Women's Shoes On Behalf Of Industry And Commerce Nine Jedi Counterattack This Year's Share Price Soared Over 50%

Nine Hing Hing Holdings Limited (1836.HK) released its earnings on Thursday and initially predicted in the two quarter and the first half of the year to add confidence to the sluggish women's shoes industry in the past five years.

In the two quarter, nine Hing Holdings declined by 1.2%, from $443 million 500 thousand to $438 million, partially offset the 6.9% increase in the first quarter. In the first half of the year, the group's revenue grew by 1.7%, from 738 million 100 thousand to 750 million 600 thousand dollars.

However, because the Sino US trade friction is changing because of the Trump administration, the order of US brands fluctuates, which only has a great impact on the overall performance of the nine Xing holdings.

During the reporting period, nine Hing Holdings said that the increase in the first half of the year was mainly due to the continued purchase of sports shoes. The group also said that fashion sports shoes will grow further in the second half of the year, and will focus on improving fashion and casual footwear performance in the future, and the average selling price is expected to remain stable for the rest of the year.

In the first half of the year, the average selling price of nine Xing holdings fell by 0.8%, from 26.1 US dollars to 25.9 US dollars, with a 4.3% increase in the first quarter, from 23.2 US dollars to 24.2 US dollars.

Benefiting from a modest increase in production efficiency, nine Hing Holdings now expects EBIT to grow at least 50% in the medium term, while the net profit after mid term tax increases at least 70%. Production efficiency is improving while Vietnam's manufacturing facilities continue to increase in capacity, and the group is further redistributing from China to Southeast Asia.

As of Thursday, shares of nine Xing holdings have surged by 51.44% this year.