Financial Performance - For the three months ended March 31, 2023, the company reported an unaudited consolidated profit attributable to owners of approximately $50.8 million[2]. - The total revenue for the same period was $2,107.4 million, a decrease of 12.0% compared to $2,394.4 million in the same period last year[8]. - The gross profit for the three months was $497.6 million, down from $568.3 million year-on-year[3]. - The total comprehensive income for the period was $74.4 million, down from $97.1 million in the previous year[5]. - The revenue attributable to the company was $852.4 million, a slight decline of 1.2% from $862.5 million in the same period last year, but an increase of 6.5% in RMB terms[10]. - The company reported a profit attributable to shareholders of $50.8 million, a decrease of 42.6% from $88.6 million in the same period last year[14]. Revenue Breakdown - The company experienced a 16.8% decrease in revenue from footwear activities, totaling $1,159.7 million, with a 24.0% reduction in the number of pairs shipped to 53.9 million[8]. - The total revenue for the manufacturing business, including footwear, soles, and accessories, was $1,255.0 million, a decrease of 18.1% compared to the same period last year[9]. - Gross profit decreased by 12.4% to $497.6 million, with the manufacturing segment's gross profit down 19.4% to $211.4 million[11]. - The gross margin for the manufacturing business was 16.8%, a slight decrease of 0.3 percentage points compared to the same period last year[11]. Operating Costs and Expenses - The company's financing costs increased to $22.7 million from $12.1 million year-on-year[3]. - Selling and distribution expenses totaled $241.6 million, accounting for approximately 11.5% of revenue, down from 12.1% in the previous year[12]. Strategic Initiatives - The company continues to optimize production scheduling and flexibly allocate resources to balance capacity and demand amid short-term challenges[7]. - The retail subsidiary, Pou Chen, is advancing its digital transformation and enhancing omni-channel integration to improve consumer experience[7]. - The company remains optimistic about the long-term prospects of its manufacturing business despite current macroeconomic challenges and high inventory levels affecting order visibility[15]. - The company will continue to focus on cost control and cash flow management to ensure liquidity and financial stability[15]. - The company is committed to diversifying its manufacturing capacity in regions like Indonesia and India to support sustainable growth[16]. - The company aims to leverage trends in "athleisure" and premiumization to seek higher value-added orders and improve its product mix[16]. Product Pricing - The average selling price of footwear increased by 9.6% to $21.53 per pair[8]. - The company's operating income from sports/outdoor footwear accounted for 87.6% of footwear manufacturing revenue, while casual and sports sandals made up 12.4%[8].
裕元集团(00551) - 2023 Q1 - 季度业绩