Home / Knowledge / News / Apparel/Garments / China Xiniya Fashion Q2 sales marginally up 0.9%
China Xiniya Fashion Q2 sales marginally up 0.9%
19
Aug '13
China Xiniya Fashion Limited, a leading provider of men's business casual apparel in China, reported financial results for the second quarter of 2013. The financial statements and other financial information included in this press release have been prepared in conformity with International Financial Reporting Standards.

Second Quarter 2013 Highlights:

-Revenue during the second quarter of 2013 increased by 0.9% to RMB222.9 million, as compared to RMB220.9 million in the second quarter of 2012, which is within the prior guidance range of (4)% to 1%.
-Gross margin was 28.5% in the second quarter of 2013 as compared to 33.0% in the second quarter of 2012.
-Profit before taxation during the second quarter of 2013 declined by 46.3% to RMB15.2 million as compared to RMB28.3 million in the second quarter of 2012.
-Net profit in the second quarter of 2013 declined by 55.5% to RMB9.0 million as compared to RMB20.2 million in the second quarter of 2012.
-Earnings per ADS were $0.03 in the second quarter of 2013 as compared to $0.06 per ADS in the second quarter of 2012, which exceeded the prior guidance range of $(0.03) to $0.01 per ADS.
-Xiniya's network of authorized retailers had a net reduction of 18 retail outlets in the second quarter of 2013; consisting of 55 new retail outlets opened, 72 retail outlets and one flagship store closed. As of June 30, 2013 the total number of authorized retail outlets was 1,658.

Recent developments

The Company plans on holding its 2014 Spring/Summer Collection Sales Fair in Xiamen, Fujian Province in September 2013. During the sales fair, the Company's distributors and authorized retailers will view the newest collection and place their orders. The Company will deliver the orders to its distributors primarily during the first half of 2014, upon which the distributors will then either deliver these products to their authorized retailers or sell them in their own retail outlets.

The Company placed new billboard advertisements across 22 provinces during the second quarter of 2013, with plans to gradually add more until the end of the year. These billboards are intended to enhance brand awareness of the Company's products and are specifically targeted at travelers and prospective authorized retailers.

Click here to view the full report  

China Xiniya Fashion Limited

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search