China Dongxiang (03818) has released its annual performance for the year ending March 31, 2024, with a revenue of 1...
Zhong Guo Dong Xiang (03818) has released annual performance data for the year ending March 31, 2024, generating a revenue of RMB 1.744 billion, a YoY growth of 3.87%. The owner of the company had a loss of RMB 639 million, compared to a profit of RMB 115 million in the same period last year. The basic loss per share was 10.9 cents. A special stock dividend of 0.51 cents per share is proposed.
According to the announcement, China's consumption recovery has been slow throughout the fiscal year 2023/24, but economic activities are gradually picking up. Under the challenges of supply chain, industry inventory, and weak consumer market, the Chinese government's beneficial policies have provided significant support to China's sporting goods industry. Outdoor sports have rapidly emerged as a new blue ocean for industry development, while ice and snow sports and events have gained more attention from consumers, promoting the development of the sports and leisure outfits industry. The group seized market opportunities by improving its offline channel layout and strengthening the synergy of business systems to improve efficiency and business performance. The group has continued to invest in product research and development, constantly creating new products for its brand series, innovating from product design, materials, functions, and enhancing market competitiveness further.
As of March 31st, 2024, the Kappa brand stores of the group numbered 1012 (excluding the KAPPA children's wear business), a net decrease of 11 compared to the same period in 2023.