Women's shoe giant Jiuxing Holdings (01836) released the latest information on its business in the third quarter:
Jiuxing Holdings said that during the reporting period, the global trade war did not have a significant impact on the group's operation. On the contrary, the revenue and shipment volume rebounded under the growth of orders for fashion sports shoes and casual shoes, while the price of goods continued to decline.
As fashion and leisure Women's shoes have gone through a five-year downturn, there is no sign of recovery up to now. Since 2013, Jiuxing holding's profit has been declining continuously. The profit changes in the past five years and the first half of this year are - 20.0%, - 1.6%, 0.3%, - 32.6%, - 24.1% and - 19.5%, respectively.
Sales up 6% year on year

In the three months ended September this year, the group's consolidated income was about 471.3 million US dollars. The same below), up about 4.2% year on year. During the period, the group's manufacturing revenue was 455 million yuan, up 2.64% year-on-year; the sales volume was about 16.1 million yuan, up 5.92% year-on-year; the average sales price was 28.3 yuan, down 3.08% year-on-year.
In the nine months ended September, the group's comprehensive income was about 1.209 billion yuan, a decrease of about 0.4% on an annual basis. However, on a comparable basis (after adjusting the group's previous retail business in China), the group's comprehensive income in the first nine months of this year rose 1.7% year-on-year. During the period, manufacturing revenue was 1.176 billion yuan, up 1.3% year-on-year, sales volume was 45.1 million yuan, up 6.9% year-on-year, and average sales price was 26.1 yuan, down 5.1% year-on-year.
Will continue to selectively reduce production capacity in China

According to the group, the increase in revenue and shipments in the third quarter and the first nine months of this year was mainly due to the group's strong orders for fashion sports shoes and the increase in orders for casual shoes.
The Group expects that the demand for fashion sports products will maintain a stable growth, and fashion sports shoes will continue to be the main driving force of the group's growth, while it is expected that the demand for group leisure and fashion shoes products will further stabilize. The group will also continue to selectively reduce production capacity in China in order to improve utilization rate and realize the recovery of profit margin in the medium term.
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