Xia Guoxin, Chairman Of The Company, Increased Net Profit By 11% In The First Quarter To Build A High Fashion Brand Group.

(603808) disclosed the first quarter performance report of 2019. The company achieved a business income of 623 million yuan in the first quarter, an increase of 8.32% over the same period last year. The net profit of shareholders belonging to the listed company was 89 million 163 thousand and 200 yuan, up 11% over the same period last year.

It is worth noting that the company's net profit has maintained double-digit growth for ten consecutive quarters.

Xia Guoxin, chairman of the company, said that the company will continue to look for new brands, enrich its brand portfolio and build the company into an internationally competitive high fashion brand group.

The growth of profits is due to continued increase in R & D investment and collaboration at the group level.

The report shows that in 2019, the cost of research and development in the first quarter of the year increased by 23.42%.

The company's 2018 annual report revealed that the company's R & D fees continued to rise to nearly 80 million yuan in 2018.

In terms of business data, in the first quarter operating data bulletin, he disclosed the IRO brand China's performance for the first time.

The announcement shows that as of the end of the first quarter, IRO opened 15 direct outlets in China, and its performance grew rapidly. The operating income in mainland China was 16 million 808 thousand and 100 yuan, up 270.74% over the same period last year.

The new brand represented by IRO is becoming a new performance highlight of the song.

In addition to IRO, during the reporting period, Ed Hardy and Ed Hardy X achieved operating income of 124 million yuan, an increase of 6.19% over the previous year, and VIVIENNE TAM operating income increased by 454.11% over the same period last year, and 1 new stores.

The company's new brand continues to open, and more terminal stores will emerge in the year, he said.

After introducing Laur, l, Ed Hardy, IRO, VIVIENNE TAM, Jean Paul Knott and other international brands, grace is gradually changing the inherent image of its single women's clothing brand, forming a high fashion brand group covering fashion, tide brand, light luxury, high-end customization and so on.

On the other hand, in the environment of continued slowdown in retail sales, the growth of the song is particularly valuable.

According to the National Bureau of statistics, in the first quarter of 2019, the total retail sales of consumer goods totaled 97790 billion yuan, up 8.3% from the nominal growth rate, and the growth rate dropped by 1.8 percentage points.

Specifically in the clothing industry, the sales volume of clothing shoes and hats and needle textiles increased by 3.3% over the same period, and the growth rate dropped by 6.5 percentage points.

Excluding price factors, retail sales decreased by 2 billion 800 million yuan.

In this regard, Xia Guoxin, chairman of the company, said that the development of enterprises is fundamentally dependent on themselves. When the market is not good, it is a good opportunity for the prepared enterprises to expand at low cost.

The company will focus on fashion, focus on high-end consumption, and continue to enhance professionalism and competitiveness in this field.

At the same time, the company will continue to identify new brands, enrich the company's brand portfolio, and build the company into an internationally competitive high fashion brand group.