Affected by the epidemic, the revenues of Taiwan's three shoemakers Baocheng, Fengtai, and Yuqi were not as good as in the same period last year. Among them, Yuqi's performance was lower than the same period last year, which was the second lowest record for listing, while Baocheng and Fengtai's annual decrease 10 ~ 20%.


Baocheng, a leading shoemaker, achieved revenue of 20.165 billion yuan in April. Although it increased by 5.53% per month, the annual decrease was 21.71%. The legal person said that countries have implemented border and domestic control measures one after another, which has hindered production and sales, coupled with the sharp decline in brand customer demand, which has hit the footwear business performance.
Yuqi, an outdoor functional shoe manufacturer, achieved revenue of 358 million yuan in April, a monthly decrease of 54.49% and an annual decrease of 54.69%, the second lowest in 2012. According to the company, due to seasonal changes, the first half of March and April shipment revenue has been recognized as a low point, and global border control measures have interfered with the original designated delivery schedule, which in turn affected April revenue performance. Looking ahead, it still depends on the performance of the end consumer market, the effects of epidemic control, and the degree of economic restart.

Fengtai's self-finished sales of finished shoes in April were 7.4 million pairs, a monthly decrease of 29.1% and an annual decrease of 27.2%, resulting in consolidated revenue of RMB 5.102 billion in April and an annual decrease of 11.64%. Fengtai said that in order to prevent the expansion of the epidemic, the Indian government continued to lock in the country and shut down policies in April, so that the Indian factory in Fengtai did not produce and ship in April, but the full salary expenses of employees in the Indian factory, plus the appreciation of the Taiwan dollar against the dollar As a result, the surplus after tax in April was 186 million yuan, an annual decrease of about 61.84%.



Fengtai's cumulative sales of finished shoes in the first four months of this year reached 37.13 million pairs, a year-on-year decrease of 3.7%, but due to product mix and other factors, the combined revenue in the first four months was 23.199 billion yuan, an annual increase of 2.26%. However, due to the above unfavorable factors, Fengtai ’s after-tax surplus for the first four months of this year was 1.469 billion yuan, a year-on-year decrease of 25.2%. Fengtai said that part of the manpower's resumption of work on the 6th of India will depend on the development of the epidemic and gradually expand the scale of resumption of work, hoping to restore the original production capacity.

分析师则认为，因终端需求尚不明朗，近期传出品牌客户拉货动能大踩煞车，制鞋厂恐首当其冲。所幸，各国政府也已开始考虑逐步放宽相关限制，若局势持续往好的方向发展，第二季应是制鞋业景气谷底，下半年可望好转。未来须留意疫情所造成的失业率攀升、经济衰退阴霾，将为下半年埋下不确定性。

Shoe materials are less affected by brand customers cutting orders. Among them, Baihe, a major manufacturer of shoe materials and hook-and-loop fasteners, achieved revenue of 1.249 billion yuan in April, an annual increase of 3.35%, mainly benefiting from its Baihe Xingye construction case. Affected by brand cuts, suppliers' performance was also weak. Shoe upper material factory Sanfang's revenue in April hit a 10-month low, a year-on-year decrease of 37%. Liqin's April revenue decreased by more than 70% in April. Caishengyue-KY's April revenue decreased by 56% year-on-year, and the shoe rubber factory Nanbao's April revenue decreased by 20% year-on-year.
Analysts believe that, because terminal demand is still unclear, it has recently been reported that brand customers are pulling the kinetic energy to step on the brakes, and shoe factories may bear the brunt. Fortunately, governments of various countries have also begun to consider gradually relaxing relevant restrictions. If the situation continues to develop in a good direction, the second quarter should be the bottom of the footwear industry, and it is expected to improve in the second half of the year. In the future, we must pay attention to the rising unemployment rate and the haze of economic recession caused by the epidemic, which will bury uncertainty in the second half of the year.


Tengyulong Machinery Technology Co., Ltd. is a technology-based enterprise supervised by German Kenyang International Group Company, which integrates professional R & D and footwear machinery manufacturing. The main products are foam cutting machine, automatic gluing hammer leveling machine, polishing / roughening machine series, hot melt adhesive series, steam bake soft steaming machine, hot stamping machine series, printing machine series, thermal transfer series, process series Etc. complete sets of equipment for shoe making.



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