2014 China

Industry sales are still weak, men's clothing industry's extensive expansion in the past, focusing on "brand wholesale" rather than "brand retail", during the slowdown in retail consumption problems, resulting in the industry's inventory backlog and closing shop tide.

However, the apparel industry's overall inventory clearance is coming to an end. The overall business environment of China's men's wear industry has improved.

Domestic

The announcement of results released by the group revealed that the profit in the 2014 fiscal year was 555 million yuan, an increase of 7.5%.

The analysis shows that the world economic situation in 2014 is still complex, China's economy has entered a "new normal" and the Chinese government's policy of thrift, to a certain extent, affects the consumption atmosphere.

However, during the year, the performance of the group increased and the turnover increased by 5.8% to 2 billion 433 million yuan, reflecting the appropriate measures to enhance the brand image and product design, and enhancing the competitiveness of the products with the increase of cost performance, so that consumers could maintain stable demand for group products.

In addition, the gross profit margin of the group remained at 42.6% during the year, and the operating profit margin increased by 2.7 percentage points to 28%.

It increased by 0.3 percentage points to 22.8%.

The group maintained its fiscal adequacy, with a net cash balance of 1 billion 937 million yuan and a net cash of 1.61 yuan per share as at December 31, 2014.