Undemanding yield play in textiles universe

China Puti FLASH NOTE 8 May 2024 Fundamentals Expects better 2HFY24 on client's fast order ; Net gearing ratio further declined ◼ The sales drop in 1HFY24 was mainly driven by ASP (-12.9% Yoy,in HKD terms) in knitwear as a result of higher sales volume of normal knitwear and whole garment with lower ASP, while mutually agreed price adjustment for whole garment products caused a drag on ASP. Nevertheless, we noticed that normal knitwear ASP managed to grow 10.6% HoH (based on our calculation) in 1HFY24, we b ...