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裕元集团(00551.HK)一季度纯利跌24.22%至7575.8万美元 整体毛利率跌至22.9%
Ge Long Hui· 2025-05-12 09:40
Core Viewpoint - The company reported a decline in net profit and overall gross margin, attributed to various operational challenges and increased labor costs, despite a slight increase in revenue [1][2]. Financial Performance - For the three months ending March 31, 2025, the company's revenue was $2.029 billion, a year-on-year increase of 1.29% [1]. - The net profit attributable to shareholders was $75.758 million, representing a year-on-year decrease of 24.22% [1]. - The overall gross profit fell by 7.7% to $464 million, with the gross margin decreasing by 2.2 percentage points to 22.9% [1]. Manufacturing Business Insights - The gross profit from the manufacturing segment decreased by 7.6% to $235 million, with the gross margin dropping by 2.6 percentage points to 17.7% [1]. - The demand for footwear products continued to show positive trends, with order volumes increasing and average selling prices rebounding after five consecutive quarters of decline [1]. Operational Challenges - The company faced uneven capacity utilization across manufacturing sites, leading to inefficiencies and increased labor costs due to a 7.5% year-on-year rise in workforce numbers and significant wage increases [2]. - New production lines and shoe upper processing plants did not ramp up as expected, impacting production efficiency and cost management [2]. Retail Performance - The retail subsidiary, Bao Sheng International, continued to enhance its omnichannel capabilities, with online sales trends outperforming offline retail despite a challenging competitive environment [2]. - The company managed to improve the sales conversion rate of its retail stores, dynamically managing store portfolios to optimize performance [2].