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Article Date: August 2024
Word Count: 308

Shenzhou Int’l. Sees Apparel Demand Coming Back


Net income was up 38% at the Chinese apparel maker for the first half ended June 30, hitting an H1 record RMB 2,931,028,000 ($410.3 mm) compared to RMB 2,126,829,000 in the prior year, as revenue gained 12% to RMB 12,975,971,000 ($1,816.6 mm) over RMB 11,561,962,000. Rebounding demand in the period was met with the company’s new garment factory in Cambodia reaching its intended scale of 18,000 employees. Production efficiency improvements helped gross margin expand 660 b.p. to 29.0%. SG&A was up 3% in yuan, leveraging 70 b.p. to 7.9% of sales.

 

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