Shenzhou International Has Become The Biggest Supplier Of Nike Knitted Upper.

The continued popularity of sportswear and footwear, the pformation of footwear production and the depreciation of the RMB against the US dollar, the euro and the yen have brought new growth opportunities for China's textile industry. Shenzhou International Holdings Limited is one of the biggest winners - it is invisible.

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And Puma and other international brands behind the super suppliers.

Shenzhou International has been listed in Hongkong in 2005, and has grown into the largest vertically integrated knitted garment manufacturer in the world over the years.

Forbes said in October 26 daily.

The Hong Kong listed companies also appeared in the list of the top 50 Forbes Asia Pacific listed companies this year.

The official website shows that Shenzhou International Holdings Limited and its Affiliated Companies are China's largest vertically integrated knitting manufacturers. They are also one of the largest exporters of textile and clothing in China. The main production base is located in the Ningbo economic and Technological Development Zone. The products cover all kinds of knitted garments, including sportswear, casual wear, underwear, pajamas and so on.

In the first half of this year, many Chinese suppliers were badly affected by poor sales of clothing brands in the United States, as compared to Virginia, a Hongkong listed company.

However, thanks to the market's increasing demand for sports fabric products and casual wear, Shenzhou International has achieved growth. The purchase from international sports brand and UNIQLO contributed a considerable part of the revenue to the company. The bank estimates that in the first half of the year, the orders of Nike, UNIQLO, Adidas and Puma contributed about 80% of the company's revenue.

The company's 2016 mid term earnings report showed that the group's revenue in the first half of this year increased 24.6% to 6 billion 950 million yuan, and its profit grew 29.4% to 1 billion 450 million yuan (earnings per share of 1.04 yuan) over the same period last year, which is better than analysts' expectations.

According to the announcement, the reasons for the increase in sales include the expansion of overseas production bases, the increase of production capacity, and the increase of production efficiency by automatic production. The rise in gross profit margin benefits from the optimization of product structure and the depreciation of the renminbi.

The company, which is not familiar with the mass consumer, has a large proportion in the apparel sourcing of many international brands: Nike 12%, Adidas 12%, UNIQLO 14%, Puma 30%.

Forbes quotes a September report that Citibank predicts that these figures will increase by 3-5 percentage points by 2020.

In the past year, Shenzhou's stable international business has helped its stock rise by more than 40%.

Shenzhou International is currently the largest supplier of Nike knitted upper.

As a textile company, its footwear business extends from knitwear instead of some artificial leather to shoes.

Citibank said that the future growth rate of this kind of knitted upper business is expected to exceed that of clothing.

Ma Jianrong, chairman of the group, made the position of the general manager from the knitting and weaving department of the company.

According to Forbes's 2016 list of Chinese riches, Ma Jianrong, 52, is ranked thirty-ninth for about $4 billion 300 million (about 29 billion 110 million yuan).