Fashionable Sports Shoes Pick Up Flourishing Nine Xing Holdings 2018 Sales Increased By 6.4%

In the evening of January 16th, nine Hing Holdings, known as "the biggest shoe maker", announced its fourth quarter earnings forecast for December 31, 2018.

Data show that the unaudited consolidated income of the group during the period was about $386 million 500 thousand, an increase of about 8.2% compared to the unaudited consolidated income in the same period last year.

As a result, the total unaudited consolidated income of nine Hing Holdings was 1 billion 595 million 900 thousand US dollars as of December 31, 2018, representing an increase of 1.6% compared with the unaudited consolidated income last year.

On a comparable basis (adjusted by the group's previously sold retail business in China), the group increased its total revenue by 3.3% in 2018.

The total sales volume was 60 million 200 thousand pairs, an increase of 6.4% over the same period, and the average selling price was 25.8 US dollars per pair, down 3.4% from the same period last year.

The report analyzes the future trend of the industry, pointing out that the group revenue and shipments have improved in recent years, mainly due to the popularity of fashionable sports shoes during the year.

And in the fourth quarter, the group also raised the average selling price of casual shoes, which also had a certain impact on the performance level during the period.

To sum up, the Group believes that the demand for fashionable footwear will become the main driving force of the group in 2019.

Nine Hing Holdings, founded in 1982, is one of the most famous shoe factory in the world. It has developed and manufactured footwear products for luxury brands including Prada, LVMH, Celine, Givenchy and Kenzo.

However, in recent years, influenced by the "demographic dividend", the group has begun to sacrifice the development and production of footwear products, establish its own retail distribution network, and even enter the handbag Market.