希尼亚时装招股说明书

ChinaXiniyaFashionLtd424B4ProspectusfiledpursuanttoRule424(b)(4)Filedon11/23/2010TableofContentsPROSPECTUSFiledPursuanttoRule424(b)(4)RegistrationNo.333-170368ChinaXiniyaFashionLimited8,000,000AmericanDepositarySharesRepresenting32,000,000OrdinarySharesThisisaninitialpublicofferingofourAmericandepositaryshares,orADSs.Weareoffering8,000,000ADSs.EachADSrepresentsfourordinaryshares,parvalue$0.00005pershare.TheADSsareevidencedbyAmericandepositaryreceipts,orADRs.Priortothisoffering,therehasbeennopublicmarketforourADSsorourordinaryshares.OurADSshavebeenapprovedforlistingontheNewYorkStockExchangeunderthesymbolXNY.OurbusinessandaninvestmentinourADSsinvolvesignificantrisks.TheserisksaredescribedunderthecaptionRiskFactorsbeginningonpage10ofthisprospectus.NeithertheSecuritiesandExchangeCommissionnoranystatesecuritiescommissionorotherregulatorybodyhasapprovedordisapprovedofthesesecuritiesorpassedupontheaccuracyoradequacyofthisprospectus.Anyrepresentationtothecontraryisacriminaloffense.PerADSTotalPublicofferingprice$11.00$88,000,000Underwritingdiscount$0.77$6,160,000Proceeds,beforeexpenses,tous$10.23$81,840,000Theunderwritersmayalsopurchaseuptoanadditional1,200,000ADSsfromthesellingshareholdersatthepublicofferingprice,lesstheunderwritingdiscount,within30daysfromthedateofthisprospectus,tocoveroverallotments.WewillnotreceiveanyproceedsfromtheADSssoldbythesellingshareholdersiftheoverallotmentoptionisexercised.TheunderwritersexpecttodelivertheADSsevidencedbytheADRsagainstpaymentinU.S.dollarsinNewYork,NewYorkonNovember29,2010.CowenandCompanySamsungSecurities(Asia)LimitedLazardCapitalMarketsJanneyMontgomeryScottNovember22,2010.TableofContentsTableofContentsTableofContentsTABLEOFCONTENTSPageProspectusSummary1RiskFactors10SpecialNoteRegardingForward-LookingStatements34UseofProceeds35Capitalization36Dilution37DividendPolicy38ExchangeRateInformation39EnforceabilityofCivilLiabilities40OurCorporateHistoryandStructure41SelectedFinancialData43Management'sDiscussionandAnalysisofFinancialConditionandResultsofOperations45OurIndustry71OurBusiness75Management95PrincipalandSellingShareholders101RelatedPartyTransactions103Regulation104DescriptionofShareCapital111DescriptionofAmericanDepositaryShares119SharesEligibleforFutureSale128Taxation131Underwriting137ExpensesRelatedtoThisOffering143LegalMatters144Experts144WhereYouCanFindAdditionalInformation145IndextoFinancialStatementsF-1Youshouldrelyonlyontheinformationcontainedinthisprospectus.Wehavenotauthorizedanyonetoprovideyouwithinformationdifferentfromthatcontainedinthisprospectus.Weareofferingtosell,andseekingofferstobuy,theADSsonlyinjurisdictionswhereoffersandsalesarepermitted.Theinformationcontainedinthisprospectusiscurrentonlyasofthedateofthisprospectus,regardlessofthetimeofdeliveryofthisprospectusorofanysaleoftheADSs.WehavenottakenanyactiontopermitapublicofferingoftheADSsoutsidetheUnitedStatesortopermitthepossessionordistributionofthisprospectusoutsidetheUnitedStates.PersonsoutsidetheUnitedStateswhocomeintopossessionofthisprospectusmustinformthemselvesaboutandobserveanyrestrictionsrelatingtotheofferingoftheADSsandthedistributionofthisprospectusoutsidetheUnitedStates.iTableofContentsCONVENTIONSTHATAPPLYTOTHISPROSPECTUSUnlessotherwiseindicated,referencesinthisprospectusto:•ADRsaretotheAmericandepositaryreceiptsthatevidenceourADSs;•ADSsaretoourAmericandepositaryshares,eachofwhichrepresentsfourordinarysharesparvalue$0.00005pershare;•ChinaorthePRCaretothePeople'sRepublicofChina,excluding,forthepurposeofthisprospectusonly,TaiwanandthespecialadministrativeregionsofHongKongandMacau;•ChinaXiniya,we,us,ourcompanyandourrefertoChinaXiniyaFashionLimited,itspredecessoranditsconsolidatedsubsidiaries;•first-tiercitiesaretoBeijing,Shanghai,GuangzhouandShenzhen;•fourth-tiercitiesaretocounty-levelandothertownship-levelcitiesinthePRC;•FujianXiniyaaretoFujianXiniyaGarmentsandWeavingCo.,Ltd.,ourwhollyownedsubsidiaryinthePRC;•HK$aretothelegalcurrencyofHongKong;•HongKongaretotheHongKongSpecialAdministrativeRegionofthePRC;•JinjiangXiniyaaretoJinjiangXiniyaGarmentsandWeavingCo.,Ltd.,oneofourrelatedpartiesinthePRC;•RMBandRenminbiaretothelegalcurrencyofChina;•second-andlower-tiercitiesaretosecond-tiercities,third-tiercitiesandfourth-tiercities;•second-tiercitiesaretoprovincialcapitalcitiesandthecapitalcitiesoftheautonomousregionsinthePRC,excludingfirst-tiercities;•sharesorordinarysharesaretoourordinaryshares,parvalue$0.00005pershare;•ShishiXiniyaaretoShishiXiniyaGarmentsandWeavingCo.,Ltd.,ourpredecessor,oneofourrelatedpartiesinthePRCfromOctober2005toJanuary2009andanindependentthirdpartyafterJanuary2009;•third-tiercitiesaretoprefecture-levelcitiesinthePRC,excludingfirst-andsecond-tiercities;•U.S.dollarsand$aretothelegalcurrencyoftheUnitedStates;and•XiniyaHongKongaretoXiniyaHoldingsLimited,ourwhollyownedsubsidiaryinHongKong,whichownsa100%equityinterestinFujianXiniya.Unlessotherwiseindicated,informationinthisprospectusassumesthattheunderwritersdonotexercisetheiroverallotmentoptiontopurchaseadditionalADSs.Unlessotherw