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China Lilang's sales soar 7.3% in H1 FY24

14 Aug '24

2 min read

China Lilang's sales soar 7.3% in H1 FY24

Pic: China Lilang

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China Lilang reported a 7.3 per cent year-on-year increase in sales revenue for H1 FY24, reaching RMB 1,600 million ($220 million), driven by strong performance in smart casual collection sales.
Net profit rose by 3.6 per cent to RMB 280.1 million, with a net profit margin of 17.5 per cent.
Earnings per share also increased by 3.6 per cent to RMB 23.4 cents.

China Lilang, a prominent Chinese menswear brand, has reported a 7.3 per cent year-on-year increase in sales revenue for the first half of fiscal 2024 (H1 FY24), reaching RMB 1,600 million (approximately $220 million). This growth was primarily driven by strong performance in the in-store operations and e-commerce activities of the smart casual collection, which saw a 17.3 per cent increase, continuing the momentum from the fourth quarter of the previous year.

The group's net profit for the period amounted to RMB 280.1 million, reflecting a 3.6 per cent increase year-on-year. The net profit margin stood at 17.5 per cent. China Lilang also reported a gross profit margin of 50.0 per cent, with earnings per share rising to RMB 23.4 cents, a 3.6 per cent increase compared to the same period last year, the company said in a press release.

“In response to the challenging market environment, China Lilang has enlisted famous artists to serve as brand ambassadors, together with its diversified publicity strategies, and together with its diversified publicity strategies, China Lilang has increased the promotion of its e-commerce business, responding to the personalisation needs of the new generation of consumers and their strong on cost-effectiveness. This enabled the Group to outperform its competitors and increase its market shares,” said Wang Dong Xing, chairman and non-executive director of China Lilang.

Fibre2Fashion News Desk (DP)

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