Recently, the Chinese clothing brand Semir released its 2024 performance report. The report indicates that in 2024, Semir realized a total operating revenue of 14.626 billion yuan, an increase of 7.06% compared to the same period last year. The net profit attributable to shareholders of the listed company was 1.137 billion yuan, a year-on-year increase of 1.42%. As of December 31, 2024, Semir's total assets amounted to 19.101 billion yuan, and the net assets attributable to the parent company's owners were 11.83 billion yuan. Looking at product segments, in 2024, casual wear products generated revenue of 4.19 billion yuan, accounting for 28.65% of total operating revenue, with a gross profit margin down 2.54% year-on-year. Casual wear, as Semir's traditional strength category, is facing challenges from intensified market competition and changing consumer demands. In 2024, children's clothing products achieved a revenue of 10.268 billion yuan, accounting for 70.21% of total operating revenue, making it the primary driver of Semir's performance growth, with a year-on-year gross profit margin increase of 0.53%. Balabala, as Semir's children's clothing brand, holds the largest market share in the children's apparel sector. In recent years, through brand extension and product line expansion, such as the launch of sub-brands Mini Balabala and Balabala Premium, the company has further covered the segments for young children and the mid-to-high-end market. Currently, Semir has established 8,325 offline stores across various provinces, autonomous regions, municipalities, and overseas, including 980 directly operated stores, 7,260 franchised stores, and 85 joint venture stores. As of now, the Semir and Balabala brands have entered 15 countries and regions, with over 30 new stores opened last year in overseas markets like Singapore, Malaysia, and Vietnam.
