Home / Knowledge / News / Apparel/Garments / Exceed revenue skids 31.6% to RMB 1,629.6mn in 2013
Exceed revenue skids 31.6% to RMB 1,629.6mn in 2013
01
May '14
Exceed Company Ltd., the owner and operator of the "Xidelong" brand, one of the leading domestic sportswear brands in China, released its financial results for the fourth quarter and the year ended December 31, 2013.
 
Financial Highlights – Fourth Quarter ended December 31, 2013 (unaudited)
-Revenue was RMB495.9 million (US$81.9 million), representing a 32.7% year-over-year increase.
-Gross profit was RMB135.3 million (US$22.3 million), representing a 32.8% year-over-year increase.
-Gross margin was 27.3%, which remained the same as the fourth quarter ended December 31, 2012.
-Operating profit was RMB31.6 million (US$5.2 million), representing a 137.6% year-over-year increase.
-Net profit was RMB21.7 million (US$3.6 million), representing a 104.7% year-over-year increase.
 
Financial Highlights – Full Year ended December 31, 2013 (audited)
-Revenue was RMB1,629.6 million (US$269.2 million), representing a 31.6% year-over-year decrease.
-Gross profit was RMB441.0 million (US$72.8 million), representing a 34.7% year-over-year decrease.
-Gross margin was 27.1%, representing a decrease of 1.2 percentage points year-over-year.
-Operating profit was RMB94.5 million (US$15.6 million), representing a 59.2% year-over-year decrease.
-Net profit was RMB65.5 million (US$10.8 million), representing a 67.1% year-over-year decrease.
 
Shuipan Lin, Exceed's founder, Chairman and CEO, commented, "2013 proved to be a challenging year for Exceed and the Chinese sportswear industry in general. Our financial results for the fourth quarter and the year ended December 31, 2013 continued to be impacted by the weakening consumer demand in China for our products, which was primarily due to the ongoing global macroeconomic uncertainties and the slowdown of economic growth in China. 
 
“However, we have seen signs of a slow market recovery in the domestic sportswear industry, and we believe that the excessive inventory or stocking, which bothered the domestic sportswear industry for quite some time, is gradually reducing. In response to the prevailing market conditions, we took a prudent approach to control the amount of orders placed by our distributors.
 
“In addition, we continue to enhance the efficiency of our distribution network by closing or relocating inefficient retail selling locations. We believe that these initiatives will help to reduce the overall inventory of finished products in the retail selling locations."
 
Click here to view full results.
 

Exceed Company


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Giorgio Mantovani
Corman S.p.A

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

September 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search