Profits were up at the Chinese apparel maker for 2022, coming in 35% higher at RMB 4,563,165,000 ($677.3 mm) compared to RMB 3,371,679,000 on revenue that was up 17% to RMB 27,781,412,000 ($4,123.7 mm) from 23,845,006,000. The top line got a boost from rising demand from major customers in the U.S. and Europe, overseas production returning to normal capacity and new factory expansion, as well as a rise in ASPs to offset input costs and the strong dollar. But production utilization will fall below capacity in 2023, Shenzhou said, as destocking ... Log in to view full article.