Semir Garment achieves a net profit of 450 million yuan in H1 2023

Zhejiang Semir Garment Co., Ltd (referred to as "Semir Garment" hereinafter) recently released a performance forecast, predicting a net profit attributable to shareholders of the listed company in the range of 450 million to 550 million yuan for the first half of 2023, representing a year-on-year growth of 331.05% to 426.84%.

Regarding the main reasons for the performance change, Semir Garment explained that during the reporting period, the company continued to promote organizational transformation, innovative business models, and process reengineering. It strengthened the organizational capabilities of its retail business and fully implemented the new retail model, achieving synergies between online and offline channels, as well as between direct sales and franchise operations, which contributed to an increase in gross profit margin for merchandise retail. At the same time, the company fully implemented the product manager system and guided performance through assessments, focusing on product quality and operational efficiency, resulting in a year-on-year decrease in expense ratio.