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

President Donald Trump; Courtesy: White House

Textiles | On 24th Jan 2017

US sets ball rolling for withdrawal from TPP

President Donald Trump has set the ball rolling for withdrawal of the ...

Textiles | On 24th Jan 2017

Indian cotton consumption estimated at 290 lakh bales: CAI

The domestic consumption of cotton during the crop season 2016-17...

Courtesy: NEJ

Apparel/Garments | On 24th Jan 2017

NEJ fully acquires Bills Khakis from Source Capital

Provider of reverse logistic excess inventory solutions for specialty ...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mark Paterson
Technical Absorbents Ltd

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

Ashok Desai
Bombay Textile Research Association

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

Silvia Venturini Fendi
Fendi s.r.l

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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
January 2017

January 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