Financial Performance - For the three months ended March 31, 2022, the company reported an unaudited consolidated profit attributable to owners of approximately $88.6 million[2]. - The company's revenue for the same period was $2,394.4 million, a decrease of 4.0% compared to $2,493.3 million in the same period last year[8]. - Gross profit for the three months was $568.3 million, with a gross margin of approximately 23.7%[3]. - The company reported a total comprehensive income of $97.1 million for the period, compared to $91.96 million in the previous year[5]. - The company reported a profit attributable to shareholders of $88.6 million, an increase of 3.7% from $85.4 million in the same period last year[13]. Revenue Breakdown - The company achieved a 14.8% increase in revenue from footwear activities, totaling $1,394.2 million, driven by strong global demand[8]. - In the first three months of 2022, the group's sports/outdoor footwear accounted for 85.0% of footwear manufacturing revenue, while casual shoes and sports sandals accounted for 15.0%[9]. - The total revenue from the group's manufacturing business was $1,531.9 million, representing a 12.2% increase compared to the same period last year[9]. - The group's total revenue for the first three months of 2022 was $2,394.4 million, a decrease of 4.0% from $2,493.3 million in the same period last year[10]. Gross Profit and Margins - Gross profit decreased by 10.5% to $568.3 million, with a gross profit margin of 17.1%, down 1.1 percentage points year-on-year[11]. - The gross profit margin for the group’s subsidiary, BaoSheng, improved by 1.2 percentage points to 35.5% due to better channel mix and cautious discounting in a volatile retail environment[12]. Operating Expenses - The company's operating expenses decreased, with selling and distribution expenses at $290.2 million, down from $319.9 million year-on-year[3]. - Selling and distribution expenses totaled $290.2 million, accounting for approximately 12.1% of revenue, down from 12.8% in the previous year[12]. Strategic Focus - The company continues to prioritize quality growth and higher-value orders, leveraging trends in "athleisure" and premiumization[7]. - The company is advancing its digital transformation strategy to enhance online engagement and operational efficiency in response to retail challenges[7]. - The company maintains a cautiously optimistic outlook for continued growth in its manufacturing business, despite short-term risks from COVID-19 in mainland China and labor supply issues in Southeast Asia[15]. - The company will continue to monitor future order conditions and adapt to uncertainties in the global market, focusing on operational efficiency and productivity[16]. - The group aims to strengthen its sustainable growth and profitability through excellence in manufacturing and digital transformation strategies[16]. Challenges - The retail subsidiary, Pou Chen Corporation, faced challenges due to COVID-19 resurgence in mainland China, impacting store operations and customer traffic[7]. - The company continues to monitor future order conditions and adapt to uncertainties in the global market, focusing on operational efficiency and productivity[16].
裕元集团(00551) - 2022 Q1 - 季度财报