Reported 8 months ago
Guanglung (8916), an outdoor functional apparel factory, held a financial briefing on June 25, 2024, announcing a return to growth trajectory starting from the second quarter as clothing shipments pick up. The down and home textile departments have shown outstanding performance due to factors like rising raw material prices and strong demand from key clients. With all business units showing improvement, revenue is expected to surpass the same period last year, turning positive. Guanglung's accumulated consolidated revenue for the first five months of this year was NT$3.081 billion, a 7.9% annual decrease. Benefiting from non-operating foreign exchange and disposal of investment equity, net profit for the first quarter reached NT$149 million, a 55.9% annual increase, setting a new high for that period with earnings per share (EPS) at NT$0.98. To meet customer demands and the recovering economy, Guanglung continues overseas expansion, recently expanding with a new plant in Vietnam to meet home textile customer needs, planning to add 14 new production lines that will come online gradually in the second half of this year, with potential orders from major global home and Japanese household brands. In terms of sustainable development, Guanglung has attained international certification for B-type enterprises this year and received recognition in corporate governance evaluations, ranking in the top 5% of over-the-counter companies and medium-sized market capitalization companies, highlighting its achievements in corporate governance and sustainability. Looking ahead at Guanglung's operations in 2024, the market predicts revenue contributions from new customers and operational momentum from new plant and capacity investment, estimating double-digit growth for the full year.
Source: YAHOO