TheCompanyadoptstheinnovativedesignmanufacturer(IDM)modeltooffer
TheCompanyadoptstheinnovativedesignmanufacturer(IDM)modeltooffer
afullrangeofservicesfromdesigntomanufacturing,andhasaccumulated
R&Dexperienceandconstantlyexpandeditsproductlines,whichnowcovers
sixcategoriesincludingunderwear,sportsproducts,consumerelectronics,
brapadsandmolds,footwearandepidemicpreventionproducts.InFY1H22,
theCompanyrecordedrevenueofHK$3,165mn(+23%YoY)fromthebraand
underwearbusiness,andHK$1,036mn/233mn(+59%/+104%YoY)fromthe
sportsproducts/consumerelectronicssegments,bothofwhichmaybecome
themajordriversforfuturerevenuegrowth.InFY1H22,theCompany
recordedoperatingrevenue/netprofitofHK$4,081mn/254mn(+30%/+80%
YoY)withthegrossprofitmarginat24.0%(+1.5pptsYoY),showingarapid
reboundinmajorfinancialmetricsaftertheshort-livedimpactofthepandemic.
▍Underwear&sportswearindustry:TheChinesemarketisgrowing
rapidly,internationalbrandsmaintainsolidadvantagesandleading
sportsbrandshaveacceleratedproductexpansioninfemalecategories.
Theglobal/ChineseunderwearmarketexceededUS$120bn/Rmb260bn
in2021,accordingtoEuromonitor.AlthoughthegrowthoftheChinese
marketissignificantlyhigherthantheglobalaverage,themarket
concentrationratio(e.g.CR5=7.5%)isstillsignificantlylowerthanthatof
developedcountries,andtheglobalmarketisdominatedbymany
well-knowninternationalbrands.
Intermsofsportswear,theChinesemarkethasexceededRmb370bn