14 textile and apparel listed companies release annual performance forecasts. Who will win a larger market share in 2024?

Recently, A-share textile and apparel listed companies have successively released their 2023 performance data. According to data from Oriental Wealth Choice, as of 5:00 p.m. on January 29th, 14 companies have released their 2023 performance forecasts. Among them, 8 companies are expected to increase their profits, 2 companies will turn around from losses, 2 companies are expected to reduce their profits, and 2 companies are expected to continue to report losses.

The 8 companies expected to increase their profits in the textile and apparel industry include Saint Angelo, PEACEBIRD, Hodo, Jinhong Group, ZhongWangFabric, SEPTWOLVES, Semir and GIUSEPPE, the other 7 companies are expected to achieve a year-on-year growth rate of net profit attributable to their parent companies exceeding 50%. Among them, Jinhongg Group's performance growth rate is the most remarkable. The company is expected to achieve a net profit attributable to its parent company of about 285 to 308 million yuan in 2023, a year-on-year increase of about 299% to 330%.

In addition, the gradual recovery of the textile and apparel market has also driven two companies, Red Dragonfly and JOEONE, to accelerate their performance recovery and achieve a turnaround from losses. Red Dragonfly and JOEONE are expected to respectively achieve a net profit attributable to its parent company of 45-58.5 million yuan and 190-245 million yuan in 2023.

The implementation of measures such as closing inefficient stores, adjusting channels, and reducing advertising and marketing expenses has improved PEACEBIRD's performance in 2023. The company is expected to achieve a net profit attributable to its parent company of around 415 million yuan in 2023, a year-on-year increase of about 125%. Operating income is expected to decrease by around 9% year-on-year, but the sales gross margin is expected to increase by 6 percentage points year-on-year, and the company's operating expenses are expected to decrease by around 9% year-on-year.

Against the backdrop of the overall recovery in the textile and apparel industry, several companies are still expected to experience a decrease in their 2023 performance or continue to report losses. Among them, RUMERE is expected to achieve a net profit attributable to its parent company of 81.21-90.45 million yuan in 2023, a year-on-year decrease of 46-51%. Shengtai Group is expected to achieve a net profit attributable to its parent company of 80-120 million yuan in 2023, a year-on-year decrease of 78.73-68.09%. Hassen Co., Ltd. is expected to reduce losses, with a net profit attributable to its parent company of -2.5 to -5 million yuan in 2023.