BROS EASTERN's net profit increases 14% year on year in 2022

On April 11, BROS EASTERN Co., Ltd. released its 2022 annual report. During the reporting period, the company achieved operating income of 6.989 billion yuan, down 10.1% from the same period last year; the net profit belonging to the parent company was 1.563 billion yuan, up 14% year on year. BROS EASTERN, the main reason for the performance change, explained that in the first quarter of the reporting period, domestic and foreign markets continued explosive growth at the end of last year, orders were full, and enterprise production and business performance continued to improve. After entering the second quarter, the downward pressure on the economy gradually appeared and consumption was weak; overseas markets were affected by the war between Russia and Ukraine, the prices of energy, food and other commodities in major economies of Europe and the United States rose, inflation intensified, and consumer demand for textiles and clothing shrank sharply, coupled with the pressure of destocking of overseas clothing brands, which had a great impact on textile enterprises.