CABBEEN, The Designer Of Men's Clothing, Announced Net Profit Of 235 Million 500 Thousand Yuan Last Year.

In mid February 2015, Men's wear designer brand CABBEEN apparel Co., Ltd. announced its annual performance in Hongkong in 2014. In the performance report, the Group recorded a total turnover of about 1 billion 98 million 200 thousand yuan in 2014, an increase of 16.4% over the same period last year. The increase in turnover is mainly driven by the increase in wholesale orders of distributors. Annual net profit of about 235 million 500 thousand yuan, an increase of 20.6% over the same period. The increase in net profit is mainly due to the increase in turnover, gross margin and other income, as well as the decrease in financing costs. Earnings per share were RMB 0.33 yuan.

In 2014, group The total sales volume increased by about 20%, to 6 million 600 thousand, while the total retail sales, including all distributors and self run shops distributed by distributors, increased by 10.1% compared to 2013. In order to continue to improve the operational efficiency of sales channels, since August 2014, the group has begun to sell its products in a consignment market in specific markets. As of December 31, 2014, there were 190 retail outlets operating on consignment.

On the retail network, the group had 1052 retail outlets in December 31, 2014 (including 9 self retailing shops), a net increase of 25 compared with 1027 in December 31, 2013, and retail outlets distributed in over 300 cities in the mainland of China. As of December 31, 2014, department stores, street shops and shopping malls accounted for about 42%, 38% and 20% of all retail outlets, respectively. The group's retail network has strategically penetrated into China's two or three tier cities.

By the group's product quality and design skills, as of December 31, 2014, CABBEEN has established brand loyalty and accumulated over 240 thousand active VIP members. According to the operating data obtained from the ERP system, the retail sales to the VIP members of the group accounted for the brand of distributors and two tier distributors during the year. Retail shop The total retail revenue of self retailing stores exceeds 39.5%.