Shenzhou International, which manufactures apparel for Nike, Adidas and Uniqlo among others, posted a 10% increase in H1 comprehensive net income attributable to shareholders to RMB2,445,961,000 ($358.2 mm) up from RMB2,228,461,000 on sales that were 12% higher at RMB10,279,693,000 ($1,505.3 mm) vs. RMB9,159,900,000. Gross margin narrowed 140 basis points to 30.9% on higher dye costs and rising wage rates. The bottom line also benefitted from RMB502 million in other income including Chinese government subsidies. Sports apparel sales increased 19% to RMB7,369.0 million driven by strong sales in the mainland China market and the U.S. Casualwear was up 10% to RMB2,373.6 ... Log in to view full article.