China-focused apparel companies TOPBI International Holdings Ltd (淘帝國際控股) and Jinli Group Holdings Ltd (金麗集團控股) yesterday gave a cautiously optimistic outlook on sales growth this year on the back of rising consumption and an expected increase in birth rate.
TOPBI yesterday reported NT$504 million (US$15.08 million) in sales for last month, little changed from the NT$507 million it recorded in the same month last year.
The company is optimistic about China’s transition into a consumption-driven economy and rising wages, which it expects to help boost sales.
Domestic consumption in China last year contributed 66.4 percent to the country’s GDP and the trend is expected to continue, TOPBI said, citing figures from the Chinese government.
To capture these growing opportunities, the company will continue expanding its product mix, focusing on the younger demographic for its two main apparel brands and its newly launched facial mask line.
Meanwhile, Jinli reported that sales last month rose 6.18 percent annually to NT$379 million, propelled by rising demand for children’s apparel.
The company said that as of the end of last year, sales contribution from clothing for children aged one to three rose to 44.4 percent of total revenues, compared with 34.87 percent in 2013, adding that the trend is likely to continue following Beijing’s easing of its one-child policy.
TOPBI shares fell 3 percent to NT$115.50, while Jinli shares closed flat at NT$52 in Taipei trading yesterday.
The Eurovision Song Contest has seen a surge in punter interest at the bookmakers, becoming a major betting event, experts said ahead of last night’s giant glamfest in Basel. “Eurovision has quietly become one of the biggest betting events of the year,” said Tomi Huttunen, senior manager of the Online Computer Finland (OCS) betting and casino platform. Betting sites have long been used to gauge which way voters might be leaning ahead of the world’s biggest televised live music event. However, bookmakers highlight a huge increase in engagement in recent years — and this year in particular. “We’ve already passed 2023’s total activity and
BIG BUCKS: Chairman Wei is expected to receive NT$34.12 million on a proposed NT$5 cash dividend plan, while the National Development Fund would get NT$8.27 billion Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday announced that its board of directors approved US$15.25 billion in capital appropriations for long-term expansion to meet growing demand. The funds are to be used for installing advanced technology and packaging capacity, expanding mature and specialty technology, and constructing fabs with facility systems, TSMC said in a statement. The board also approved a proposal to distribute a NT$5 cash dividend per share, based on first-quarter earnings per share of NT$13.94, it said. That surpasses the NT$4.50 dividend for the fourth quarter of last year. TSMC has said that while it is eager
Nvidia Corp CEO Jensen Huang (黃仁勳) today announced that his company has selected "Beitou Shilin" in Taipei for its new Taiwan office, called Nvidia Constellation, putting an end to months of speculation. Industry sources have said that the tech giant has been eyeing the Beitou Shilin Science Park as the site of its new overseas headquarters, and speculated that the new headquarters would be built on two plots of land designated as "T17" and "T18," which span 3.89 hectares in the park. "I think it's time for us to reveal one of the largest products we've ever built," Huang said near the
CUSTOMERS’ BURDEN: TSMC already has operations in the US and is a foundry, so any tariff increase would mostly affect US customers, not the company, the minister said Taiwanese manufacturers are “not afraid” of US tariffs, but are concerned about being affected more heavily than regional economic competitors Japan and South Korea, Minister of Economic Affairs J.W. Kuo (郭智輝) said. “Taiwan has many advantages that other countries do not have, the most notable of which is its semiconductor ecosystem,” Kuo said. The US “must rely on Taiwan” to boost its microchip manufacturing capacities, Kuo said in an interview ahead of his one-year anniversary in office tomorrow. Taiwan has submitted a position paper under Section 232 of the US Trade Expansion Act to explain the “complementary relationship” between Taiwan and the US
RSS