Net Profit at Chinese Clothing Firm Grows 95% on Expanding Supply Chain Segment
Zhang Xia
DATE:  Aug 28 2017
/ SOURCE:  Yicai
Net Profit at Chinese Clothing Firm Grows 95% on Expanding Supply Chain Segment Net Profit at Chinese Clothing Firm Grows 95% on Expanding Supply Chain Segment

(Yicai Global) Aug. 28 -- Major Chinese clothing store operator Souyute Group Co. [SHE:002503] reported first half revenues of CNY6.57 billion (USD981 million), up 187 percent annually, while net profit soared 96 percent to CNY361 million, driven by the firm's rapidly growing supply chain business.

The supply chain sector accounted for 73 percent of total revenue in the first six months as well as 59 percent of net profit.

The company's supply chain function provides efficient and low-cost centralized purchasing, design, research and development, warehousing and distribution services to an increasing number of businesses and customers.

The segment achieved total operating income of CNY4.82 billion (USD720 million), and net profit of CNY210 million (USD31 million), the firm said.

Souyute focuses on the design and development, brand promotion, channel building and high-end clothing industry sectors. The enterprise currently operates nearly 2,000 stores for well-known domestic apparel brand Trend Line across the country.

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Keywords:   Souyute,Financial Performance,Costume