Zhejiang Sunrise Garment Group Co Ltd (605138.SH) issued a profit warning, expecting a net profit of 45-67.5 million yuan in 2024, a decrease of 35.33% to 56.89% year-on-year.

Zhejiang Sunrise Garment Group Co Ltd (605138.SH) announced that the company expects to achieve a net profit attributable to shareholders of the listed company in 2024 of 45 million to 67.5 million yuan, a decrease of 35.33% to 56.89% compared to the same period last year. In 2024, with the overall recovery of the economy and society returning to normal operation, China's textile industry's domestic sales show signs of recovery. However, factors such as weak external demand, complex trade environment, and high production costs have constrained the growth of the textile industry in terms of production, efficiency, and investment. The company's production capacity utilization rate gradually improved in 2024, and profitability has also recovered somewhat, but overall, it is still in the process of recovery. In addition, the company integrated its domestic and overseas production bases in the same period last year, generating significant non-recurring income, which did not occur in the reporting period, leading to a decrease in net profit attributable to shareholders of the listed company compared to the same period last year. However, the net profit attributable to shareholders of the listed company excluding non-recurring gains and losses has increased compared to the same period last year.