11 Ningbo garment businesses make nation's top 100 list

Eleven enterprises from Ningbo, Zhejiang Province, have been listed among the top 100 companies in the clothing industry for 2023, as determined by the China National Garment Association. The announcement was made by the Ningbo Municipal Bureau of Economy and Information Technology on July 23.

Three local companies secured positions within the top five. Youngor topped the list, while two other Ningbo-based firms, Shanshan and Peacebird, claimed the fourth and fifth spots, respectively.

In addition to these frontrunners, eight other companies from the city, including Romon, Seduno, and Beyond, were also included in the top 100.

Among these top 100 companies, 12 reported annual revenues exceeding 10 billion yuan ($1.37 billion), with 73 companies surpassing the 1-billion-yuan mark.

Simultaneously, the association unveiled two additional top 100 lists, focusing on profits and operating profit margins from the previous year.

Youngor came in third in the top 100 list for total profits, while Romon, Seduno, Peacebird, and Shanshan ranked 11th, 14th, 16th, and 20th, respectively.

The collective total profit of the top 100 companies amounted to 50.21 billion yuan, representing a 3.1 percent increase compared to the previous year. Notably, 12 of these enterprises saw profits surpass 1 billion yuan, with 48 companies exceeding 100 million yuan.

The average profit margin of the top 100 companies, based on operating profit margin, stood at 10.8 percent, surpassing the previous year by 1 percentage point.