Nine Hing's Three Quarter Revenue Plunged 16.5% Over The Same Period Last Year

As of the three quarter of September 30th, the world's largest

Manufacturer Stella International Holdings Ltd.

Holdings Limited recorded a revenue of 4.753 billion US dollars, down 16.5% from 557 million US dollars in the same period last year, while the group income in the first nine months of this year was 1 billion 192 million 800 thousand US dollars, a 12.7% decrease compared to the same period last year, compared with 13.662 US $100 million in the same period last year.

For the double-digit decline in revenue, nine Hing has always said that due to the weak retail environment in North America and Europe, the demand for the footwear products of the nine Hing Group, especially those for casual shoes, has slowed down.

However, the group said the company continued to suffer.

Driven by the demand of products, these products are the key drivers of the group at this stage.

As of the three quarter of September 30th, nine Hing Group's manufacturing revenue was 454 million 900 thousand US dollars, down 18.3% from 557 million US dollars in the same period last year, and sales fell 13.1%, down from 1680 to 10000 pairs in the same period last year. The average selling price also dropped by 6% to 31.2 dollars, compared with 33.2 dollars in the same period last year.

The weakness of the nine core manufacturing business also confirms the current downturn in China's real economy, especially in the traditional manufacturing sector.

In addition to the demand for sports shoes business, the nine Xing retail business is rarely seen in the three quarter.

In 7-9 months, nine Xing's retail business revenue recorded an increase of 4.6% to 1610 $10 million; in 1-9 months, group retail business remained negative, sales fell 9.5% to 4880 million dollars, and same store sales fell 9.3%.