BRIEF: Winterwear leader Bosideng’s annual profit rises 14%
Winterwear brand Bosideng International Holdings Ltd. (3998.HK) reported Thursday that its revenue climbed 11.6% to 25.9 billion yuan ($3.61 billion) for its fiscal year through March, while its net profit rose 14.3% to 3.51 billion yuan.
Revenue from down jackets totaled 21.67 billion yuan, up 11% year-on-year and making up 83.7% of its total. The company said the strong performance reflects a strategic pivot initiated in 2018 which included refocusing on its core down-jacket products along with brand-building and product innovation initiatives.
The company said that in the future it will focus on “fashionable and functional apparel enhanced with technology.”
Bosideng’s shares opened lower on Friday and were down 3.2% at HK$4.47 by the midday break. The stock is up 15% this year.
By Lau Chi Hang
To subscribe to Bamboo Works weekly free newsletter, clickhere
Related Articles
RELATED ARTICLES
-
Nameson’s profit dives on diversification spending, overreliance on single customer
1982.HK -
Cambricon to raise $700 million in race to build a Chinese AI chip leader
688256.SHG
-
BRIEF: Coconut water leader IF launches $148 million Hong Kong IPO
6603.HK
-
BRIEF: Ping An Healthcare records first annual profit
1833.HK
-
NEWS WRAP: VNET records first annual profit in three years
VNET.US
-
BRIEF: Precision Tsugami (China) annual profit jumps
1651.HK
-
BRIEF: Strong growth, greater efficiency charge up CALB’s annual profit
3931.HK
