Home / Knowledge / News / Apparel/Garments / Revenue surges 123.5% to RMB 1,408.2 mn at Boshiwa
Revenue surges 123.5% to RMB 1,408.2 mn at Boshiwa
Apr '11
Boshiwa International Holding Limited, a leading and fast-growing developer and retailer of children's product in China, announced its consolidated results for the year ended 31 December 2010.

During the year under review, the Group recorded revenue at approximately RMB1,408.2 million, which represents a 123.5% growth. Gross profit surged by 135.0% to approximately RMB625.7 million, with gross profit margin increased by 2.1 percentage points to 44.4%. (2009: 42.3%)

Profit before tax rose 115.4% to RMB367.8 million. Profit for the year attributable to owners of the Company increased by 106.9% to approximately RMB251 million from RMB121.3 million recorded in 2009; where there was a 75.3% increase upon basic earnings per share to RMB15.23 cents. (2009: RMB8.69 cents) The board of directors proposed a final dividend of RMB1.4 cents per share for the year ended 31 December 2010.

Mr. Zhong Zheng Yong, Chairman and Chief Executive Officer of Boshiwa International Holding Limited, said: "The tremendous growth in the children products' market has brought along to Boshiwa a huge opportunity. 2010, with huge support from investors, Boshiwa went listed on the Main Board of Hong Kong Stock Exchange on 29 September, which marked an important milestone to the Group. The proceed raised through listing not only supported the Group for further development, it also helped strengthen its leading position in children consumer products market."

During the year under review, the Group has developed its sales channel in a rapid pace, with retail outlets surged from 890 in 2009 to 1,555, representing a growth rate of 74.7%. Amongst all, department store concessions increased by 618 to 1,477; Boshiwa street shops added 17 shops to 29; Boshiwa 365 stores increased by 20 to 36; as well as flagship stores increased by 10 to 13.

Thus, the rapid expansion of sales network drove the Group's revenue to RMB1,408.2 million. The revenue was derived from sales of children's apparel, footwear and accessories which increased by 76.7% to RMB1,005.6 million, as well as sales of other children's products which surged by 558.9% to RMB402.6 million.

The Group's cost of sales increased from RMB363.8 million in 2009 to RMB782.5 million in 2010. The increase in cost of sales was less than the increase in sales revenue, mainly due to a significant increase in sales revenue of 2010 accompanied by an increase in purchases, and lower procurement costs obtained as a result of the increased bargaining power.

The Group had strong financial positions that set the stage for its future development. As at 31 December 2010, working capital amounted to RMB2,271.8 million and net cash reached RMB1,682.8 million (2009: net liabilities of RMB173 million). No gearing ratio was presented.

As at 31 December 2010, the Group has three proprietary brands, Boshiwa, Baby2 and Dr. Frog. Boshiwa targeting the middle class and relatively high income customers in China, offers a range of mid to high end children's apparel, footwear and accessories for children from newborn to 14 years of age.

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

Interviews View All

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

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

Kevin Nelson

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

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Robert Brunner

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


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

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


Browse Our Archives


Advanced Search