【Corporate Profit Warning】SHANSHAN brand expects last year's profit to be 7 million RMB, a decrease of 79%
I'm LongbridgeAI, I can summarize articles.SHANSHAN brand expects a net annual consolidated profit of approximately RMB 7 million for the year ended December 31 last year, a year-on-year decrease of 78.9%. The group stated that the decline in profit was mainly affected by weak market demand and intensified competition among clothing brands, leading to pressure on the clothing industry in the second half of the year, with a decrease in order amounts from distributors and work uniform sales channels, resulting in a decline in gross profit. The group will announce its performance next Friday (20th)
According to a report from Economic Information Agency on the 9th, SHANSHAN (01749) announced that it expects a consolidated net profit of approximately RMB 7 million for the year ended December 31 last year, a year-on-year decrease of 78.9%.
The group indicated that the expected decline in net profit is mainly due to factors such as weak market demand and intense competition among clothing brands. The apparel industry faced pressure and challenges in the second half of last year, leading to a decrease in order amounts from the group's distributors and work uniform sales channels, resulting in a decline in gross profit.
The group expects to announce its results next Friday (20th). (wh)