�

2007/08 Interim Results Announcement

Bosideng International Holdings Limited

�

Disclaimer

The information contained in this presentation is intended solely for your personal reference. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning Bosideng International Holdings Limited (the “Company”). The Company makes no representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein.

In addition, the information contains projections and forward-looking statements that may reflect the Company’s current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company’s assumptions are correct. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects.

This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or to provide any investment service or investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto.

�

Presentation Team

Mr. Gao Dekang Chairman and CEO

Ms. Mei Dong Executive Director

Ms. Claudia Lo CFO

Dr. Kong Shengyuan Executive Director

�

Agenda

Milestones

Results Highlights

Business Overview

Future Plans and Strategies

Open Forum

�

Milestones

�

Milestones

Successfully listed on The Stock Exchange of Hong Kong Limited on October 11, 2007

Corporate

The only apparel brand awarded the distinction of “China’s World Famous Brand” in September 2007

Branding

Continuous expansion in sales and distribution network, number of outlets increased to 7,120 in total

Network

Strategically enhanced overall store image through consistent, modern and innovative interior décor

Retail

�

Results Highlights

�

Interim Financial Highlights

0.03

0.03

182.1

289.9

292.9

549.4

1,729.1

+50.6274.3Profit attributable to equity holders

- 1.1286.8Profit before tax

+66.70.05Basic EPS (RMB)

+14.5629.2Gross profit

+12.0328.0Operating profit

+66.70.05Diluted EPS (RMB)

+15.92,003.3Revenue

2007 2006

Half year ended 30 September Change

(%)

(RMB MM)

Sustainable Turnover and Profit Growth

1,381.5 1,508.3

347.6

495.0

0

400

800

1,200

1,600

2,000

2,400

2006 2007

Branded Down Apparel OEM Management

Revenue by Business SegmentRMB MM

1,729.1

2,003.3

182.6

274.3

0

50

100

150

200

250

300

2006 2007

Net ProfitRMB MM

Half year results ended 30 September

Half year results ended 30 September

+9.2%

+42.4%

+ 50.3%

Growth

+ 15.9%

Overview of Profit Margins

- 0.516.9%16.4%Operating margin

- 2.516.8%14.3%Profit before tax margin

- 0.431.8%31.4%Gross profit margin

10.6%

13.6%

37.7%

+3.417.0%OEM management

+3.113.7%Net margin

- 0.637.1%Branded down apparel

2007 2006

Half year ended 30 September Change(% pt)

Group’s GP margin and operating margin maintained at stable level, reflecting Group’s competiveness in the market

PBT margin decreased as a result of increase in borrowings to finance working capital needs and settle related party balances

Net profit margin widened, benefiting from tax exemptions of four subsidiaries

* Exclude “other down” gross profit and before sales rebate

��

Note: Sales rebates are not deducted from the total down apparel revenue or from revenues of each brandSales rebates in 1H 2006/07 and 1H2007/08 were RMB 15.7 MM and RMB 10.0 MM respectively

Down Apparel Revenue CompositionBy Brands

7.3%9.2%3.6%

54.7% 53.3%

25.1% 24.0%

12.9%9.9%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

2006 2007

Bosideng Snow Flying Bingjie Kangbo Others

RMB MM

Half year results ended 30 September

Sales: RMB1,340.0 MM

Sales: RMB1,488.6 MM

+5.7%

+3.8%

-16.6%+37.3%

Growth:n.a.

��

Operating Expenses

Increase in distribution expenses due to opening of new sales companies and increase in concessionaire fees

Advertising and promotion expenses controlled at 7.4% of revenue (1H2006/07: 7.7%)

Increase in administrative expenses mainly came from increase in headcounts and general office expenses as a result of the business expansion

+23.513.4232.414.3287.1Distribution expenses

26.8

133.5

259.2

37.8

148.4

324.9 +32.315.016.2Total operating expenses

1.5

7.7

+41.11.9Administrative expenses

- 0.37.4Advertising andpromotion expenses

RMB MM

2007Change

(%)% of revenue RMB MM % of revenue

2006

��

Working Capital and Financial Position

Inventory turnover days = Average inventory volume / cost of sales x 180 daysA/R turnover days = Average trade and bills receivable balance / sales x 180 daysA/P turnover days = Average trade and bills payable balance / cost of sales x 180 daysCurrent ratio = Current assets / current liabilitiesGearing ratio = Total debt / total equity

112.666.3

101.5

119.9A/P turnover days

148.3Inventory turnover days97.7A/R turnover days

Working Capital2007 2006

Half year ended 30 September

4.83.9Gearing ratio507.8814.0Cash and cash equivalents

(237.2)

1.11.1Current ratio

365.2Operating cash inflow/(outflow)

Financial Position2007 2006

As at 30 September

��

Business Overview

��

Key Initiatives in 1H2007/08

Design focus shifted increasingly from function to fashion

Utilised fabrics that are odourless, anti-bacterial and water-repellent

Vertically Integrated, Light Asset Business model

Product research, design and development

Outsourced manufacturing

Branding,marketing and distribution

Retail Network Management

Procurement plans based on sales contracts

Great purchasing and bargaining power to obtain favorable prices due to economies of scale

Diverse product portfolio appealedto customers of different age groups and varying tastes

Worked with internationally renowned advertising agency to create focused marketing strategies

Nationwide sales network increased to 7,120 outlets

Actively enhanced store image

Enhanced supply chain management by upgrading ERP system, Phase

�

system upgrade completed and is now in operation

Raw material procurement

��

Product R&D – From Function to Fashion

Colourful design, innovative fabrics and trendy styles to produce versatile light-weighted and fashionable down apparel

Utilise fabrics that are odourless, anti-bacterial and water-repellent for a selected range of Bosideng products

Collaborate with international design institutions to further strengthen the award-winning in-house design team

��

Bosideng – China’s World Famous Brand

The only apparel brand awarded the distinction of “China’s World Famous Brand”

Focused integrated marketing campaign

Fashionable Fashionable ImageImage

CorporateCorporatePublic RelationPublic Relation

Sales Sales HighlightsHighlights

ChannelChannelInnovationInnovation

Exposure via the Internet, magazine, terminal, product, public rExposure via the Internet, magazine, terminal, product, public relationelation……..

��

Retail Network Composition By Store Types

- 3834,9564,573Supervised / operated bythird party distributors

–33Operated by the Group

Specialty stores

6,844

867

1,018

+1501,017Supervised / operated bythird party distributors

+2767,120Total

Concessionary retail outlets

+5091,527Operated by the Group

30 Sep 2007 31 Mar 2007

As at

Change

�

Down Apparel Revenue Composition By Sales Channel

Change in the mix of the outright sales and consignment sales reflects Group’s strategic shift to increase consignment sales as part of the branding and marketing strategy

RMB MM

1,381.0

Half year results ended 30 September

+9.2%

1,219.5 1,276.1

134.7202.427.329.7

0

200

400

600

800

1,000

1,200

1,400

1,600

2006 2007

Outright sales Consignment sales

1,508.2

+4.6%

+50.3%

Growth

�

Eastern China:Eastern China:1,156 (1,156 (--38)38)

Shandong Province:Shandong Province:748(748(--1)1)

South Eastern China:South Eastern China:576 (576 (--90)90)

Central China:Central China:1,474 (+93)1,474 (+93)

Northern China:Northern China:799 (+31)799 (+31)

North Eastern China:North Eastern China:892 (+60)892 (+60)

North Western China:North Western China:1,475 (+221)1,475 (+221)

Nationwide Retail Network Coverage

As at Change

31 Mar 200730 Sep 2007

+ 2766,8447,120No. of Retail stores

�

Note: At 30 September 2007Figures in bracket denote change as compared to 30 March 2007

��

Future Plans and Strategies

��

Fall/Winter Promotional Strategies

Organise a photography

competition with the theme “Beautiful Winter”

Introduce new sales and

promotional channels

A comprehensive, innovative and multi-pronged promotion strategy

Advertising slogan “Bosideng products making a more beautiful winter”

Collaborate with popular

magazines to promote brands

& products

��

Winter 2007/28 New Products

��

Development StrategyDomestic Market

Our principal goal: further strengthen our leading market positOur principal goal: further strengthen our leading market position in down apparel industryion in down apparel industry

Enhance market penetration with a multi-brand strategy

Strengthen the positioning of main brands from cold-resistant classical downapparel to the fashionable down apparel which satisfies varying needs of medium and high-end consumers

Strengthen Brand Differentiation, Loyalty

and Recognition

Develop self-managed specialty stores in medium and large cities to increasemarket penetration and to enhance brand image

Consolidate and optimize retail distribution network with effective cost control

Different product designs for different consumer segments

Enhance product research, design and development abilities throughcollaborations with international fashion design houses

Collaborate with domestic and international research institutes for development of new fabric

Upgrade management information system, strengthen quality control system and implement Phase 2 of ERP platform

Strengthen, Expand and Consolidate Retail

Distribution Network

Enhance Product R&D and Design Capability

Enhance Supply Chain Management

��

Expansion Roadmap

Principal goal: selectively diversifying into new products and mPrincipal goal: selectively diversifying into new products and marketsarkets

Explore opportunities to establish a greater overseas market presence in Russiaand North America, through selective acquisitions, alliances, joint ventures orpartnerships

Explore Overseas Expansion Opportunities

Selectively diversify into non-down apparel products that are less sensitive toseasonality patterns, through targeted expansion and selective acquisitions

Expand brand portfolio associated with new products to meet the varying needsof different consumer segments

Selectively Diversify into New Product Lines

��

Open Forum