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Kim Fei Da Increased Costs In The First Half Of The Year, Resulting In A Slight Increase In Performance.

2008/8/26 14:30:00 24

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Kim Feida products are basically sold to the US market. Due to the accelerated appreciation of RMB and the increase in fees, the company's revenue increased by 08 yuan in the first half of the year, but realized a net profit of 25 million 453 thousand yuan, up 0.33% from the same period last year.

In the mid 2008, Kim Fei Da announced the earnings per share of 0.2344 yuan, net assets of 3.65 yuan per share, and net assets yield of 5.21%. The total operating income was 356 million 359 thousand and 500 yuan, an increase of 12.01% over the same period last year, and realized net profit of 25 million 453 thousand yuan, an increase of 0.33% over the same period last year.

The company is one of the largest high-end clothing (Ladies) ODM and OBM manufacturers in the United States, and its products are basically exported to the US market.

Because of the appreciation of the renminbi and the impact of the subprime mortgage crisis on consumption in the United States, it has a negative effect on the operation of the company.

In the first half of 08 years, the company's foreign business revenue increased by 11.63% over the same period last year.

Under the influence of RMB appreciation and the US economy, the company expects that the growth of main business revenue in 2008 1-9 is less than 30%.

The company has noted that it relies mainly on the risk of the single market in the United States, will develop the European and African markets, and further expand the domestic special field business.

In the first half of 08 years, although the operating income of the company still increased year by year, the increase in fees and taxes resulted in an increase less than the increase in revenue.

As LANCO incorporated in the United States in June 20, 2007, the company's management fees increased by 27.96% compared to the same period last year, and sales expenses increased by 82.07% compared with the same period last year. The large scale of bank loans at the beginning of the year, the increase in interest expenses and the increase in exchange losses caused by RMB appreciation led to an increase of 47.30% in financial expenses.

In addition, the 12% preferential tax rate was implemented by the parent company in the same period last year, and the national income tax rate of 25% of the reporting period also increased the company's income tax expenses by 43.82% over the same period last year.

The company plans to invest 106 million 372 thousand yuan to invest 5 million 300 thousand gold (Feb.) middle and top grade garment production lines, with an average annual profit of 26 million 664 thousand yuan.

They invested 80 million 158 thousand yuan and 57 million 653 thousand and 800 yuan respectively to invest 3 million 900 thousand pieces (sets) and Jin Fei Ying 1 million 200 thousand (sets) of medium and high grade garment production lines, and the average annual profit after tax was 21 million 525 thousand yuan and 14 million 698 thousand yuan respectively.

The company has been gradually completed and put into operation with the fund-raising investment projects, and the US market has gradually expanded. Within two to three years after the listing, the company strives to achieve annual sales of over 50 million standard parts, with an annual sales revenue of 15-20 billion yuan.

At present, the company's business is still dominated by ODM, accounting for nearly 90% of the company's revenues. It is estimated that the proportion of OBM business revenue in total revenue will exceed 30% in 2010.

In June 07, the company successfully acquired Lanco Apparel LLC. and LancoTrademarkLLC. from the US apparel enterprises, Lanco owns three mid-range women's clothing brands in the United States, and has established stable sales channels with large retailers such as JCPenny, Wal-Mart, Macy and so on. At the same time, it has established long-term cooperative relationship with QVC (the famous American TV guide retailer). By acquiring Lanco companies, it is conducive to the gradual pformation of the company on the basis of the ODM business, and to create a clothing brand design production business chain.

According to the notice of the Ministry of finance of the State Administration of Taxation on adjusting the export tax rebate rate of some textiles and garments, the export rebate rate of some textiles increased from 11% to 13%, which has a positive impact on the company's annual profits. The company's finance department will make the net profit of the company increase by 4 million yuan to 5 million yuan in the second half of the year, based on the analysis of the camp's status in the first half of 08 years.