Anhui Xingxing Garment Co.Ltd (AHXXFZ) released its 2022 financial report recently

Anhui Xingxing Garment Co., Ltd (AHXXFZ) released its 2022 financial report recently. During the period, the company realized operating income of 793 million yuan, an increase of 6.22% compared with 747 million yuan in the same period of the previous year, and a net profit of 122 million yuan.

Regarding performance growth, Xingxing Garment said that during the reporting period, important customers such as Decathlon, Anta, and FILA cooperated with the company and trusted each other, and their orders were relatively stable. In addition, kit packaging and protective clothing processing are the focus of operating income growth during the period.

Xingxing Garment pointed out that there are five main reasons for the increase in net profit. 1. The company's customers Anta, Decathlon, and Bosideng brought about 43.23 million yuan in profits. 2. In the first half of 2022, due to the need for epidemic prevention and control, the company undertook more orders for kit packaging and protective clothing, generating a total profit of about 50 million yuan for the company. 3. Use idle funds to purchase wealth management products with income of 15.22 million yuan, and earn 10.97 million yuan from the purchase of Jizhi Technology. 4. Obtain government subsidies of nearly 3 million yuan. 5. The preferential corporate income tax rate is 15%, which saves the company 10% of income tax.

According to the data, the main business of Xingxing Garment is clothing and apparel OEM. Its customers include Anta, FILA, Decathlon and other well-known sports brands.