Chinese listed apparel companies announce 2022 results

Recently, listed apparel companies have released their performance in 2022. During the period, the difficulties experienced by the companies are roughly the same, but the operation is quite different. 12 key listed apparel companies are selected as samples, and we can understand their operating conditions through the main financial data.

HLA has the highest operating income of about 18.562 billion yuan in 2022, which is followed by Youngor and Semir ranking second and third places, with operating income of 14.821 billion yuan and 13.331 billion yuan respectively. Meters/bonwe ranks last about 1.439 billion yuan , a year-on-year decrease of 45.45%.

From the perspective of net profit after deduction of non-recurring gains and losses, Youngor is the highest about 4.712 billion yuan, an increase of about 6% year-on-year. HLA and Semir rank the second and third places with the net profit of 2.075 billion yuan and 497 million yuan respectively, a year-on-year decrease of about 13% and 63%. The net profit of Peacebird and Meters/bonwe is negative, with a loss of 26.8409 million yuan and 834 million yuan respectively.

It can be seen that the revenue of most companies is good, but the net profit is generally poor, and the losses are even expanding. Youngor is the only company witnessing positive growth, and other companies generally see a year-on-year decline of 10-100%.

Youngor has the highest sales net profit rate of about 34.18%. HLA and SAINT ANGELO rank the second and third places, with 11.11% and 11.04% respectively. JOEONE and Meters/bonwe come behind, with negative net profit rate of -4.02% and -57.17% respectively.

In terms of asset-liability ratio (total liabilities/total assets * 100%), Meters/bonwe is the highest at 93.47%, which is followed by HLA and Peacebird, respectively 55.66% and 51.43%. SAINT ANGELO has the lowest debt ratio of about 32.41%.

Generally speaking, the lower the inventory turnover days, the lower the capital occupancy rate of the inventory and the stronger the product liquidity, reflecting good sales. As can be seen from the chart, Youngor's inventory turnover days rank the top of about 893.74 days, and Meters/bonwe and ELLASSAY rank second and third places, respectively 346.19 days and 305.63 days. Hodo is the lowest of about 31.04 days. Youngor's inventory amount ranks first, about 16.776 billion yuan, a year-on-year increase of 3.7%, HLA and Semir rank second and third places, respectively 9.455 billion yuan and 3.847 billion yuan, a year-on-year increase of 16.4% and a decrease of 4.4%. The inventory amount of Hodo is the lowest, about 152 million yuan.

To sum up, from the perspective of revenue, profitability and quality, and operating conditions of the 12 listed apparel companies, HLA's operating income ranks first, Youngor ranks first in net profit, net profit after deduction of non-recurring gains and losses, sales gross profit margin, inventory and inventory turnover days. Meters/bonwe ranks at the bottom in many indicators such as operating income, net profit after deduction of non-recurring gains and losses, and sales net profit margin, while its asset-liability ratio tops the list. The amount of inventory and inventory turnover days of Hodo are the lowest, which are improving in a healthy direction.