The apparel manufacturer’s net income gained 10% to RMB4,958,536,000 ($698.9 mm) from RMB4,492,543,000 for the FY ended Dec. 31 as sales rose 8% to RMB22,665,272,000 ($23,194.6 mm) from RMB20,950,205,000. Comprehensive net also rose 10% to RMB5,139,799,000 from RMB4,687,117,000. Revenue from China increased 13% to RMB7,142,756,000 while sales to the EU rose 2% to RMB3,890,278,000; to Japan up 9% to RMB3,542,572,000; to the U.S. up 7% to RMB3,475,427,000; and Other up 6% to RMB4,614,239,000.
The corona outbreak heavily affected the apparel/textile business, Shenzou noted, with worker shortages after Chinese New Year and interruptions in management movement and materials to keep factories going. ... Log in to view full article.