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Jinhong Fashion Group (603518) company information update report: The redemption costs of Convertible Bonds affect Net income, and the channel transformation optimization continues to advance.
The redemption of convertible bonds affects net income, bullish on channel efficiency improvements + IP Licensing to enhance profitability, maintaining a Buy rating. In Q1 2025, the company achieved revenue of 1.11 billion yuan (year-on-year -3.6%), with net income attributable to the parent company of 0.09 billion yuan, year-on-year.
Jinhong Fashion Group (603518): Q1 short-term fluctuations, remain bullish on channel efficiency improvements and the potential of innovative Business.
In 2024, resilience was demonstrated in a fluctuating retail environment, with Q1 2025 profit fluctuations mainly arising from the impact of one-time interest expenses. In 2024, the company's revenue was 4.4 billion, a year-on-year decrease of 3.3%, and the net profit attributable to shareholders was 0.306 billion, a year-on-year increase of 2.9.
Jinhong Fashion Group (603518): Profit in Q1 2025 is affected by convertible bonds, the annual Business targets remain unchanged.
1Q25 results are below our expectations. The company announced its 1Q25 performance: revenue of 1.111 billion yuan, down 3.6% year-on-year; net income attributable to the parent company is 0.089 billion yuan, down 23.3% year-on-year; net income excluding non-recurring items attributable to the parent company is 0.089 billion yuan.
Jinhong Group: Jinhong Fashion Group Co., Ltd. Report for the first quarter of 2025
Jinhong Fashion Group Co., Ltd. Report for the First Quarter of 2025
Jinhong Fashion Group (603518.SH): does not involve Business exports to the United States.
On April 15, Gelonghui reported that Jinhong Fashion Group (603518.SH) stated on the interactive platform that its self-owned brands (Teenie Weenie, VGRASS, Yuanchan) currently target the domestic market and do not involve export to the United States. The sales channels include over 1,200 physical stores in the country and various major e-commerce platforms online. The company's share buyback plan implemented in 2024 has been approved by the Shareholders' Meeting to change the purpose of repurchase to cancellation. Recently, it will also cancel related shares of other previously announced Stock-based Incentives and Employee Stock Ownership Plans, totaling 1,869,700 shares. In addition,