Saiwei Times Technology Co., LTD. (hereinafter referred to as “Saiwei Times”) recently disclosed the 2023 performance forecast, the company is expected to achieve operating income of about 6.5-6.6 billion yuan during the reporting period, an increase of about 32.41% to 34.45%, and the net profit attributable to shareholders of listed companies is 320 million yuan to 350 million yuan.

Explain the reasons for the change in performance

During the reporting period, the company continued to concentrate on brand development, benefited from the expansion of brand layout and the improvement of brand incubation efficiency, and achieved annual operating income of about 6.5-6.6 billion yuan, an increase of about 32.41% to 34.45%. At the same time, the proportion of high gross profit clothing accessories category increased, as well as non-clothing accessories category long storage age inventory liquidation scale decreased, led to the rapid growth of the company’s profits. 1) Clothing and accessories category: The company’s clothing brand matrix continues to improve, and the company’s long-term accumulation of underlying capabilities are highly reused in various subcategories, continuously enabling brand incubation and development, and the revenue scale of clothing and accessories category has increased significantly. 2) Non-apparel and Accessories: The adverse factors faced by the company in the early stage of non-apparel and accessories gradually eased, such as inventory liquidation coming to an end, the first freight decline, etc. At the same time, benefiting from the good market performance after category simplification and research and development strengthening, the revenue and profit of non-apparel and accessories have recovered. 2. During the reporting period, the company continued to introduce external high-end R & D talents, continuously promoted product innovation and system optimization, and R&D expenses increased by about 39 million yuan year-on-year.

Source: Textile printing dyeing and finishing, Saiwei times enterprise announcement