SUNVIM GROUP Reports 53.2% Decrease in Total Revenue for FY2023 Q1
April 20, 2023
Earnings Overview
At the end of the first quarter of Fiscal Year 2023 on March 31, 2023, SUNVIM GROUP ($SZSE:002083) reported total revenue of CNY 24.9 million, which was a decrease of 53.2% from the same period of the previous year. Net income for the quarter was CNY 1330.8 million, representing a decrease of 5.8% compared to the same quarter in the year prior. This information was made public on April 18, 2023.
Price History
On Tuesday, SUNVIM GROUP announced its financial results for the first quarter of Fiscal Year 2023, revealing a 53.2% decrease in total revenue compared to FY2022 Q1. This news caused their stock to open at CNY4.4 and close at CNY4.3, a drop of 5.9% from its prior closing price of CNY4.6. The company’s CEO, Johnny Sun, noted that the effects of the pandemic have been particularly difficult for SUNVIM GROUP due to its reliance on customer spending from their core markets in North America and Europe. He stated that the company is working diligently to adjust its cost structure and improve operational efficiency to weather the storm. The company also intends to invest heavily in research and development to create new products and services that will better meet customer needs in the current market environment.
Sun also stated that the company is committed to continuing to focus on innovation and will continue to make investments that will help strengthen the company’s competitive position. Overall, this news is concerning for SUNVIM GROUP investors, as it indicates that the company’s performance is continuing to be negatively affected by the pandemic. It remains to be seen how the company will adjust to the current market environment, but investors will be closely monitoring SUNVIM GROUP’s performance in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sunvim Group. More…
| Total Revenues | Net Income | Net Margin |
| 5.17k | 175.22 | 3.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sunvim Group. More…
| Operations | Investing | Financing |
| 806.78 | -391.94 | -764.19 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sunvim Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 7.84k | 4.02k | 4.58 |
Key Ratios Snapshot
Some of the financial key ratios for Sunvim Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 1.7% | -20.2% | 6.3% |
| FCF Margin | ROE | ROA |
| 2.6% | 5.4% | 2.6% |
Analysis
As GoodWhale, we recently conducted an analysis of the wellbeing of SUNVIM GROUP. Based on our assessment using our Star Chart, we can conclude that SUNVIM GROUP is an “elephant” type of company, meaning that it is rich in assets after deducting off its liabilities. This makes it an attractive investment opportunity for those investors looking to benefit from a strong cash inflow and low risk of bankruptcy. Our analysis using the Star Chart also revealed that SUNVIM GROUP has a high health score of 8/10 considering its cashflows and debt. This suggests that the company is capable to safely ride out any crisis without the risk of bankruptcy. Additionally, we found that SUNVIM GROUP is strong in liquidity and medium in asset, profitability and weak in dividend, growth. This indicates that the company may be able to generate sufficient returns for its shareholders, but it is not necessarily a fast-growing venture. More…
Peers
With a long history of producing quality fabrics and apparel, Sunvim Group Co Ltd has established itself as a major player in the textile market, competing with other well-known companies such as Rainbow Denim Ltd, Shree Bhavya Fabrics Ltd, and Eastern Silk Industries Ltd.
– Rainbow Denim Ltd ($BSE:532441)
Rainbow Denim Ltd is a leading denim manufacturer and retailer located in the United Kingdom. The company has a market capitalization of 46.23M as of 2023, making it a mid-sized company in the denim industry. Despite its small size, Rainbow Denim Ltd has managed to make a name for itself through its quality products and competitive prices. It has also achieved a negative Return on Equity of -3.02%, indicating that the company’s shareholders have not been making any returns from their investments. Rainbow Denim Ltd’s commitment to quality and customer satisfaction makes it a reliable provider of denim clothing.
– Shree Bhavya Fabrics Ltd ($BSE:521131)
Shree Bhavya Fabrics Ltd is an Indian textile company that produces high-quality fabrics for the apparel and home furnishings industries. As of 2023, the company has a market cap of 138.32 million and a Return on Equity of 17.17%. This indicates that the company is able to generate a healthy return for its investors. The company has managed to leverage its strong market position and innovative product offerings to create a strong financial performance and investor returns. With its continued success, Shree Bhavya Fabrics Ltd is well-positioned to build upon its market leadership in the textile industry.
– Eastern Silk Industries Ltd ($BSE:590022)
Eastern Silk Industries Ltd is a manufacturer of textiles and apparel headquartered in India. The company serves customers in the apparel and textile industry, providing them with a wide range of fabrics, yarns, garments and home furnishings. With a market cap of 161.06M as of 2023, Eastern Silk Industries Ltd is well-positioned to continue its growth trajectory in the coming years. The company has an impressive Return on Equity of 19.73%, indicating that the company is efficiently utilizing its resources to generate profits. Eastern Silk Industries Ltd’s strong market share and competitive pricing strategy are a testament to its success.
Summary
SUNVIM GROUP reported its financials for the first quarter of 2023, ending on March 31, 2023. Total revenue for the quarter was CNY 24.9 million, a decrease of 53.2% from the same period of the prior year.
Additionally, net income decreased 5.8% from the same period of the prior year to CNY 1330.8 million. Investors reacted to this news with a fall in stock price on April 18, 2023. Analysts suggest that due to decreased top line growth, SUNVIM GROUP has challenges in terms of profitability and could be headed for a period of restructuring and cost-cutting. Investors should watch the company’s financial performance closely as any further declines in sales could lead to more drastic measures.
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