Tai Yuan Shoe Giant Yu Yuan Sales Rare Decline For Two Consecutive Months

November 11th: Despite the strong double-digit growth of Baosheng international, a sports shoe retailer, Yuyuan group, a Taiwanese footwear giant, fell for two consecutive months.

According to data released by Yuyuan industry on Monday, the group sold $883 million 600 thousand in October, down 0.2% compared with the same period last year, compared with $885 million 300 thousand a year earlier. The decline, though slower than the 1.9% in September, is already the second consecutive month of sales decline in the company, indicating that the export situation is still grim.

Data released by Customs on Friday showed that in October, China's exports recorded a 0.9% decline in dollar terms, which was better than the 3.9% decline expected by the market, also better than the 3.2% decline in August. Imports fell by 6.4% in the US dollar, which is also better than the expected 7.8% decline and the 8.5% decline in September.

In October, China's footwear products exported 3 billion 610 million 100 thousand US dollars, an increase of 1.1% over the same period in 2018 and a total export of 39 billion 83 million US dollars in 1-10 months, up 0.3% from the 38 billion 957 million 900 thousand US dollars in the same period in 2018.

In sharp contrast to Yuyuan group, the sporting goods retail companies Baosheng international sales increased by 17.6% to 2 billion 519 million 100 thousand yuan in October, compared with 2 billion 141 million 800 thousand yuan in the same period last year. In 1-10 months, the total sales volume of the company was 22 billion 515 million yuan, up 19.9% from the 18 billion 777 million 900 thousand yuan in 2018.

Baosheng international sales slowed to 15.1% in September. In October, it showed that the sports industry is still resilience, showing a strong performance in the overall apparel industry under deflation, and continued to benefit from leisure sports, while stimulating Yuyuan group's sales rose 4% from 8 billion 25 million 100 thousand to 8 billion 393 million 800 thousand dollars in 1-10 months.

Although Yuyuan Industrial (Group) Co., Ltd. (0551.HK) and Baosheng International Holdings (Holdings) Limited (3813.HK) failed to escape on Monday, the decline of 1.32% and 0.68% was much better than the 2.62% decline of the Hang Seng Index. Affected by trade sentiment and local social events, the Hang Seng Index plummeted 800 points on Monday, and fell through 100 main lines, such as 100 and 250, and reported 26926.55 points throughout the day, down 27000 points again.