Nine Hing Holdings In The Four Quarter, The Core Business Revenue To Achieve The Highest Growth In Recent Years.

Wednesday, nine Hing Holdings Limited (1836.HK) disclosed that the core business revenue was the highest in recent years, driven by the resumption of the average selling price of manufacturing business in the fourth quarter.

In the four quarter of December 31, 2018, the average selling price of manufacturing business increased to 24.8 US dollars from 24.3 US dollars in the same period last year, an increase of 2.1%.

The average price of the product is increased, and the group product mix and customer mix change.

Sales increased by 4.9% to 15 million 100 thousand pairs annually, the lowest since the three quarter of 2017.

Manufacturing revenue rose 7.2% to $374 million 300 thousand compared with the same period last year. Group Chairman Jiang Zhigang stressed that the four quarter and the year-round fashion sports shoes products were flourishing, leisure and

Orders for footwear products also increased.

According to the world clothing and shoe net, 2018 of the total manufacturing revenues totaled 1 billion 550 million 700 thousand US dollars, an increase of 2.7% compared with 1 billion 510 million 300 thousand US dollars in 2017. Sales increased from 56 million 600 thousand pairs to 60 million 200 thousand pairs in the previous year, reaching 60 million double targets, an increase of 6.4%, and the average selling price fell by 3.4% to 24.8 dollars, down from the median figure expected by management.

"The global trade war has not had a significant impact on the operation of the group," Jiang Zhigang said in his earnings report. He also said that the group would continue to redeploy China's capacity to Southeast Asia and further boost production efficiency so as to achieve the goal of rising profit margins in the medium term.

Michael Kors, Tory Burch, Deckers, Timberland, Alexander Wang, etc.

It accounts for about 50% sales of nine Xing holdings. At present, only a small number of shoes are exported from China to the United States, but many customers still want to change their production areas to other places.

The group has production lines in Vietnam, Indonesia and Bangladesh. By the end of 2017, Vietnam's new factory, which mainly produces fashionable sports shoes, was put into operation, and recently closed the Guangxi factory.

The cost of Guangxi customs plant may offset the rise in profit margins of Vietnam's new plant and the lifting of the depreciation of the renminbi to profitability.

Fourth quarter, nine Hing Holdings achieved total revenue of 386 million 500 thousand US dollars, an annual increase of 8.2%, manufacturing business accounted for 96.8% of the total, and 3 million 300 thousand US dollars from Stella Luna three and other three private brand European retail businesses.

Annual revenue rose 1.6% to $1 billion 595 million 900 thousand compared to the previous year, excluding the Chinese retail business that had been sold, the increase was 3.3%.

Jiang Zhigang said that in 2019, the demand for fashionable sports shoes could maintain steady growth, and continue to be the main driving force of the group. The demand for fashion shoes business with brand customers such as Clarks and ECCO, and the demand for fashion shoes business with Prada Prada, Bally, Bari and other brand customers will further stabilize.

In the first half of the fiscal year, these three categories contributed about 1/3 to the group.

Nine Hing Holdings also announced the appointment of veteran Hongkong filmmaker Nansun Shi as an independent non-executive director.

The group had just changed its CEO in early January and replaced Chen Limin by Jiang Zhigang's nephew.

1836.HK Holdings Limited (HK) closed at HK $10.10 on Wednesday, rising 0.8% on a whole day, down 10.9% in the past 12 months. Nine.

HSBC securities, which lowered its target price from HK $9.4 to HK $8.6 after the three quarter results, raised the target price by 37.2% to HK $11.8 today, and the rating also increased from "holding" to "buying".

Nine Xing Holdings (1836.HK) rose 4.75% to 10.58 Hong Kong dollars on Thursday, with a total of 10.42 Hong Kong dollars a day, up to 3.2%.

More interesting reports, please pay attention to the world clothing shoes and hats net.