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

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