Quang Viet Enterprise, a key player in the functional apparel and down jacket market, reported a loss of NT$1.12 per share for the first quarter of 2024, a slight improvement over the previous quarter’s NT$1.21 loss but still wider than last year’s NT$0.45 per share. Chairman Wu Chao Bi expressed optimism for the coming months, citing the seasonal peak and an expected surge in orders that should revitalize the company’s performance.
April’s consolidated revenue amounted to NT$972 million, a 27% increase from the previous month but a 22.8% decline year-over-year. The company’s cumulative revenue for the first four months totaled NT$3.337 billion, down 14.79% from the same period last year. This downturn was primarily attributed to customer inventory adjustments and a temporary delay in product shipments due to scheduling changes.
Wu remains hopeful, suggesting that the worst may be over for Quang Viet as inventory adjustments near completion and production ramps up. The company has secured visibility of orders stretching into September, bolstered by new agreements including a significant contract to produce knitted apparel for Lululemon. Additionally, Quang Viet is expanding its portfolio with another major brand and is in talks with more potential partners. Notably, the company has begun developing styles for Adidas for the 2026 Winter Olympics, signaling potentially lucrative ventures ahead.
As Quang Viet navigates these developments, the firm adopts a cautiously optimistic stance towards its operational outlook for the remainder of the year.
