Virgin'S Third Consecutive Yingxi'S Medium-Term Net Profit Increased Significantly

　　 Virginia International (Holdings) Co., Ltd (2199.HK) Yingxi was released on Tuesday. It is expected that the medium-term net profit will record a substantial increase due to the increase of new customer orders and the improvement of efficiency of Vietnamese factories.

Since its listing in 2015, Victoria's Secret, a brand of L Brands Inc Victoria's secret performance is poor, constantly struggling between Ying Jing and Ying Xi.

In 2017, due to the reduction of Victoria Mi's orders, Virginia sent out two profit warnings in a row, but with the pursuit of more sales and continued strong Sports industry The company has released Yingxi for three consecutive times since the end of last year due to customer orders and the productivity improvement of Vietnamese plants.

According to the data, as of March 31, 2018, the revenue of Shenzhen Company increased from HK $4676.9 million in 2017 to HK $5.868 billion in 2018, and the gross margin increased by 170 basis points to 21.3%. In FY2018, the Group realized a net profit of HK $240.2 million, compared with HK $97.635 million in the previous year.

Virginia's Vietnam plant is located in Vietnam Singapore Industrial Park (VSIP) in Haiphong City. Mainly produce bust and Body hugging underwear The first factory with an annual output of 46 million pieces is close to full production, and the production efficiency has reached more than 85% of the skilled workers in Shenzhen factory. The output of chest cups mainly produced in the second plant is enough to support the local production and domestic demand. The third plant was put into use in April this year. It is expected to recruit 8000 employees before the third quarter, and finally reach the chest size Body hugging underwear And functionality Athletic Wear The planned annual production capacity of 30 million pieces in total.

The fourth plant is expected to start operation in the first quarter of 2019, and its function is the same as that of the third plant. During the year, the Group Another piece of land was purchased to build the fifth factory building. After completion shoes The Group pointed out that the latter has advantages in cost, labor supply, construction of advanced environmental protection production facilities, tax rate and politics.

As of March 31, there were about 15000 employees in Virginia's Shenzhen plant, while the total number of employees in three plants in Vietnam reached 21500. The Group has non current assets of HK $1008.1 million in the mainland of China, which has increased by 7.6%, but the proportion has decreased from 31.6% in the 2017 fiscal year to 26.7%. On the contrary, the proportion of Vietnam has increased from 66.6% to 71.9%, and the non current assets have increased by 37.5% to HK $2715 million.