2020 CHINACAP ACQR INC (NASDAQ:TTY)

On May 8, 2009, 2020 ChinaCap Acquirco, Inc., Exceed Company Ltd., a wholly-owned subsidiary, Windrace International Company Limited, an operating company in the People’s Republic of China, and the holders of the issued and outstanding shares of Windrace entered into the Agreement for Sale and Purchase of Windrace whereby Exceed will purchase 100% of the issued and outstanding ordinary shares of Windrace held by the Sellers.

Windrace is one of the leading PRC sports and leisurewear brands in China in terms of market share by sales revenue. Windrace designs, develops and wholesales footwear, apparel and accessories under the Xidelong brand name and the “” logo. Windrace has three principal categories of products: (i) footwear, which mainly comprises running, leisure, basketball, skateboarding, canvas, tennis and outdoor footwear, (ii) apparel, which mainly comprises sports tops, pants, jackets, track suits and coats, and (iii) accessories, which mainly comprise bags, socks, hats and caps. Its products are sold entirely to customers within China.