On March 21, Gelonghui | Jingyuan International (02232.HK) announced that for the year ended December 31, 2023, revenue was US$2.177 billion, down 12.6% year on year. Net profit is US$164 million (2022: US$173 million), and it is recommended to declare a final dividend of HK13.0 cents (approximately 1.7 US cents) per common share.
The announcement stated that after experiencing a decline in the first half of the year, the Group's performance basically stabilized in the second half of the year. The Group is seizing the opportunity of a steady increase in demand in the Chinese market, driving sales in the Asia-Pacific region to surpass all other regions. Unlike the plight of the apparel industry, the sweater division achieved steady growth during the year. The sweaters segment's record performance was due to an improved product portfolio and growing customer demand from sports brands. Expanding from tops to underwear products such as skirts and pants, from traditional sweaters to performance sweaters suitable for sports, the sweater division has entered a diversified expansion path. Thanks to the synergy brought about by the development of the Group's sportswear division, the sweater division has also expanded its customer base, driving further sales growth.