Zitong Financial App News, Nan Xuan Holdings (01982) disclosed the unaudited consolidated interim results announcement for the six months ended September 30, 2021, the company's profit was HK $2.453 billion, up 6.9% from the same period last year; gross profit was HK $423 million, down 2.8% from the same period last year; profit attributable to the owners of the company was HK $193 million, down 19.3% from the same period last year; adjusted net profit was HK $192 million, down 18.4% from the same period last year Basic earnings per share of HK8.4 cents; proposed interim dividend of HK4.2 cents per share.
According to the announcement, the increase in the Group's earnings was mainly attributable to an increase in sales of cashmere yarns, while the total sales of men's and women's knitted products decreased slightly. The slight decrease in total sales receipts of men's and women's knitted products was due to decreases in sales volume and average selling prices. The decrease in net profit for the six months ended September 30, 2021 was mainly due to higher direct labour costs and subcontracting costs, resulting in lower profit margins for men's and women's knitted sweaters, this is mainly due to the impact of the epidemic in Vietnam and the increase in wages in the company's production base in China, which is partly offset by the increase in sales profit margin of cashmere yarn as a result of the increase in cashmere market prices.