Xin Lang Zheng Quan·2025-05-09 08:39Core Viewpoint - The analysis focuses on the inventory changes and turnover efficiency of 19 representative A-share listed companies in the apparel industry for the fiscal year 2024, highlighting significant inventory pressures faced by companies like Sanfu Outdoor and Mukao Di [1][2]. Inventory Scale & Proportion - In 2024, the highest inventory scale was reported by Hailan Home at 11.987 billion, followed by Semir Fashion at 3.481 billion and Taiping Bird at 1.736 billion [2]. - Notable year-on-year inventory growth was observed in companies such as Biyin Lefen (34.33%), Hailan Home (28.38%), and Semir Fashion (26.75%) [3]. - Mukao Di's inventory accounted for 54.21% of total assets, while Sanfu Outdoor's inventory proportion was 43.12%, and Hailan Home's was 35.86% [4][5]. Inventory Turnover Efficiency - Companies like Xinhe Shares and Sanfu Outdoor reported inventory turnover days exceeding 400 days, indicating low turnover efficiency [7][11]. - The inventory turnover days for Xinhe Shares increased from 519.26 days in 2023 to 553.59 days in 2024, reflecting a decline in efficiency [11]. - Overall, many companies in the apparel sector experienced a decrease in inventory turnover efficiency, leading to longer turnover days [10].