Corporate News
27 February 2024, Hong Kong – Xtep International Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) (Stock code: 1368.HK), a leading PRC-based professional sportswear enterprise, announced today that its "160X" championship running shoes have played a pivotal role in supporting Chinese marathon runners, including He Jie, Yang Shaohui, Feng Peiyu, and Wu Xiangdong, in qualifying for the Paris Olympics. "160X" also supported Wu Xiangdong and Dong Guojian in achieving best performance records at the Osaka Marathon, setting new records among the top 10 in the history of Chinese men's marathon. In addition, the Xtep's “Athletes and Running” incentive scheme has awarded runners more than RMB10 million to encourage them to transcend their limits.

"160X" championship running shoes empower Wu Xiangdong to qualify for the Paris Olympics

Xtep’s "160X" Championship Running Shoes Empowered Chinese Marathon Runners to Strive to Qualify for The Paris Olympics and Helped Create the Top 10 Historical Best Records

According to the Paris Olympics qualification system announced by World Athletics, the marathon qualification period is between November 6, 2022 and May 5, 2024, and the entry standard is 2:08:10. Wu Xiangdong, wearing the Xtep championship running shoes "160X 3.0 PRO," placed 10th at the Osaka Marathon held in February this year with a time of 2:08:04. He became the first Chinese athlete to cross the finish line, showcasing a remarkable improvement in his personal best performance and earning the qualification to compete in the Paris Olympics. In 2023, He Jie, wearing the Xtep "160X" championship running shoes, broke the Chinese national marathon record at the Wuxi Marathon, completing in an impressive time of 2:07:30 and became the first Chinese male athlete to qualify for the Paris Olympics. In 2023, Yang Shaohui, wearing the Xtep "160X 3.0 PRO", set a new record at the Fukuoka Marathon finishing in 2:07:09 qualifying for the Paris Olympics, and Feng Peiyu, wearing the Xtep "160X" champion running shoes, finished in 2:08:07 also at the Fukuoka Marathon, making him the third Chinese male athlete to qualify for the Olympics. In the Osaka Marathon, Dong Guojian, wearing the Xtep "160X" champion running shoes, finished in 2:08:12, achieving a personal best time that demonstrated remarkable progress towards meeting the qualifying standard.

Furthermore, Wu Xiangdong and Dong Guojian both set new records at the Osaka Marathon, solidifying their positions among the top 10 best performances in the history of Chinese men's marathon. Notably, six out of the top 10 record-making runners were wearing Xtep running shoes during the race, further validating the exceptional performance and capabilities of Xtep's running shoes.

The "160X" championship running shoes helped Dong Guojian achieve his personal best performance

Xtep’s “Athletes and Running” Incentive Scheme Awarded Total More Than RMB10 Million Thus Far

In 2019, the Chinese Athletics Association and Xtep jointly launched the “Athletes and Running” incentive scheme, with the aim of encouraging Chinese marathon athletes to raise their competitive abilities. Wu Xiangdong received the "Breakthrough Award" of RMB100,000 for finishing within 2:10:00 (excluding 2:10:00). Since the scheme was launched, Dong Guojian, Peng Jianhua, Yang Shaohui, He Jie, Feng Peiyu, Chen Tianyu, Gao Peng, Renjia JIA'E, Wu Xiangdong have all successfully crossed the 2:10:00 barrier. Xtep has awarded runners a total of more than RMB10 million in cash and equipment rewards thus far.

Mr. Ding Shui Po, Chairman and Chief Executive Officer of Xtep International Holdings Limited, said, “Since 2019, Xtep has actively collaborated with Chinese marathon athletes in research and develop efforts to create professional marathon running shoes. With innovative technologies and exceptional wearing experience, the Xtep championship running shoe series has helped Chinese marathon athletes achieve remarkable performances and breakthrough results. We eagerly anticipate witnessing their outstanding performances in major marathon events and the Paris Olympics, as they proudly represent our country wearing Xtep running shoes and bringing glory to our nation. Furthermore, there has been a significant improvement in the competitive level of Chinese marathon athletes in recent years. This progress can be attributed not only to the ‘Athletes and Running’ strategy’s support and encouragement but also to the continuous advancements in the quality of China-made running shoe products. These high-quality shoes have provided athletes with a solid foundation to excel in the sport. Xtep will continue to inspire Chinese marathon runners to strive for excellence through our ‘Athletes and Running’ athlete incentive scheme, motivating them to pursue their dreams and contribute to the nation's glory. Together, we will create a bright chapter in the world of marathon sport.”

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