A few days ago, the global sports footwear foundry leader Huali Group released a performance report. In the first half of 2024, the operating income was 11.472 billion yuan, an increase of 24.54%. Net profit was 1.878 billion yuan, up 29.04% year on year.
According to the financial report, 108 million pairs of sports shoes were sold in the first half of the year, an increase of 18.25% year-on-year, which led to the growth of operating income.
It is reported that Huali Group for Nike, Converse, Vans, UGG, Hoka, Puma, Under Armour and other global well-known brands OEM, established a long-term stable cooperative relationship with the brand, become the key to business improvement.
Due to excellent performance, Huali Group generous dividend, the company since the listing in 2021, four dividends, a total of 5.252 billion yuan, dividend rate as high as 171.32%.
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In addition, Huali Group is highly concentrated and controlled by the Zhang Congyuan family, which ranks 318 on the "2024 Hurun Global Rich List" with a wealth of 58.5 billion yuan.
Public data show that despite a decline in revenue and net profit in 2023, Huali Group's orders began to recover in the fourth quarter. 190 million pairs of sports shoes were sold in the year, down 13.85% from the previous year. The Group explained that this was mainly due to some brand customers still dealing with inventory, as well as the unstable international economic situation.
In the first quarter of 2024, the performance of Huali Group, the leading brand sports foundry, rebounded significantly. This is because since the second half of 2023, the year-on-year growth rate of most overseas brand inventory has slowed down significantly or fallen, the inventory pressure of various brands has decreased, and the effect of de-stocking has shown, so the orders of OEM enterprises have significantly increased.
In the first quarter of 2024, Huali Group achieved an operating income of 4.765 billion yuan, a year-on-year increase of 30.15%, and a net profit of 787 million yuan, a year-on-year increase of 63.67%. Downstream customers smoothly destocking, restocking opened, brand sports shoes and clothing OEM leading orders gradually recovered, bringing rapid growth in the first quarter, the industry began to enter the boom cycle.
A number of research companies believe that Huali Group's semi-annual report performance in 2024 is in line with expectations, its profitability continues to perform well, and its refined operation ability is outstanding. In addition, the smooth progress of the new factory is expected to steadily release production capacity, and the company's capacity reserves are sufficient, which will further support the company's stable sales growth.
In the future, Huali Group's business growth point is mainly to enhance the research and development capabilities of new materials and processes, and maintain a leading position in the global sports shoe foundry industry.
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