Company Overview - Crystal International Group Limited was founded in 1970 and initially operated small workshops in Hong Kong with a few sewing and knitting machines. It has since expanded to approximately 20 automated manufacturing facilities across five countries, employing around 80,000 people and delivering over 470 million garments annually for leading global apparel brands [4]. Financial Performance - As of December 31, 2024, Crystal International reported total revenue of 17.753 billion yuan, representing a year-on-year growth of 13.42%. The net profit attributable to shareholders was 1.441 billion yuan, with a year-on-year increase of 22.64%. The gross profit margin stood at 19.69%, and the debt-to-asset ratio was 31.89% [2]. Stock Performance - Recently, Crystal International's stock price closed at 4.46 HKD per share, marking an increase of 11.78% with a trading volume of 35.585 million shares and a turnover of 164 million HKD. However, the stock has experienced a cumulative decline of 20.2% over the past month and an 8.7% decline year-to-date, underperforming the Hang Seng Index's increase of 1.02% [1][2]. Industry Valuation - In terms of valuation, the textile and apparel industry has an average price-to-earnings (P/E) ratio of -2.25 times, with a median of -0.45 times. Crystal International's P/E ratio is 7.31 times, ranking 26th in the industry. Comparatively, other companies in the sector have varying P/E ratios, such as FAST RETAIL-DRS at 0.34 times and Zhejiang Yong'an at 1.34 times [3]. Business Model and Sustainability - The company's co-creation business model is crucial for maintaining and enhancing its industry-leading position. This model leverages nearly 50 years of industry experience, long-term partnerships with leading apparel brands, a highly diversified product portfolio across five categories, and a multi-country manufacturing platform. The company emphasizes sustainable development, focusing on environmental protection, innovation, product integrity, employee care, and community engagement [4]. Analyst Ratings - Tianfeng Securities has initiated a "Buy" rating for Crystal International with a target price of 7.6 HKD per share [5].
晶苑国际（02232.HK）4月10日收盘上涨11.78%，成交1.64亿港元