HLA Net Profit Down 55.42% In H1 2020

Chinese men's clothing brand HLA recently published its semi-annual report for the first half of 2020.

According to the report, HLA realized operating revenue of about CNY8.102 billion during the first half of 2020, a year-on-year decrease of 24.43%; and its net profit was about CNY947 million, a year-on-year decrease of 55.42%.

HLA said that the market environment in China and abroad was complex and changeable in the first half of 2020, which brought severe impact to the clothing industry and the company's performance was affected consequently. However, as the COVID-19 outbreak was controlled effectively and the market demand recovered gradually, the company achieved a fast recovery in the second quarter, which laid a good foundation for its development in the second half of 2020.

HLA is a large consumer brand operating platform company which is engaged in brand management, supply chain management, and marketing network management. The company's main businesses are manufacturing, sales and processing of men's clothing. Its major products include pants, T-shirts, shirts, down jackets, and suits.