裕元集團(00551.HK)一季度純利跌24.22%至7575.8萬美元 整體毛利率跌至22.9%
格隆匯5月12日丨裕元集團(00551.HK)公佈，截至2025年3月31日止三個月，公司營業收入爲20.29億美元，同比增長1.29%；歸屬於公司擁有人應佔期間溢利爲7575.8萬美元，同比減少24.22%。
回顧期間，集團毛利下跌7.7%至4.64億美元，整體毛利率則下跌2.2個百分點至22.9%。製造業務的毛利下跌7.6%至2.35億美元，而製造業務的毛利率較去年同期下跌2.6個百分點至17.7%，主要由於各個製造廠區的產能負載不均、生產效率欠佳，加上各地新增人力及薪資上漲，推高人工成本。寶勝方面，雖致力優化庫齡與銷售結構，受限於零售行業折扣競爭，期間其毛利率下跌0.5個百分點至32.7%。
於2025年第一季度，集團製造業務的鞋履產品需求延續去年良好趨勢，多個品牌產線的訂單滿載，鞋履出貨量穩步攀升，而平均售價則一反連續五個季度的下跌走勢，同比回升，支持製造業務的良好增長。
惟複雜多變的全球經濟格局導致經營環境的波動，部分製造產區的訂單滿單率及產能利用率大幅高於均值，造成產能負載不均情況；以及新造產線及新設鞋面加工廠爬坡進度不如預期，導致生產效率未達設定標準、無法如期降低加班需求及其他相關成本。此外，製造業務人數同比上升7.5%，加上各地薪資上漲高單位數百分比，推高人工成本；與此同時，生產效率未達預期，不足抵銷薪資成本壓力。整體而言，上述因素均對集團製造業務的短期盈利能力產生負面影響。
同時，中國大陸電商環境競爭激烈，集團旗下零售附屬公司寶勝國際(控股)有限公司(「寶勝」)憑藉不斷提升的全渠道實力，秉持高度靈活敏捷的決策模式，其線上銷售趨勢繼續優於線下零售。與此同時，儘管消費環境愈趨多變而折價競爭日漸嚴峻，客流量持續波動，寶勝仍持續提升其零售店舖的銷售轉換率，動態管理店舖組合、優化店效。
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