The new crown pneumonia epidemic has slowed down, and countries have successively unblocked them. With the rematch of NBA games, consumer market confidence has also recovered.

At present, the three shoemakers Baocheng, Fengtai and Yuqi still have conservative views on the third quarter, but the legal person believes that the prosperity can be seen as soon as the fourth quarter.

It is worth noting that Baocheng has reduced the six-day off per month for Taiwanese employees to four days from September, and overseas Taiwanese cadres have also fully resumed normal work and no longer take unpaid leave. Baocheng executives revealed that the footwear industry has gradually stabilized in the fourth quarter. "As long as the epidemic does not worsen, the outlook for next year is cautiously optimistic."

In addition, in order to save money, the Baocheng Group has laid off more than 4,000 employees at the Hubei factory in mainland China, and the Pingzhen factory in Vietnam has also laid off more than 2,700 employees. The number of employees in the Vietnam factory has been reduced from 61,000 to more than 58,000. Baocheng said that this wave of manpower adjustment has come to an end, and there is no subsequent layoff plan.

The legal person pointed out that people’s sports and fitness needs will not disappear due to the epidemic, but will only temporarily wait and see, which can be seen from the recent global bicycle sales; and sports brand stores such as Nike and Adidas have successively reopened, plus the NBA rematch. The retaliatory consumption of shoes is expected to be seen soon.

Shoemaker Sanxiong was affected by the new crown epidemic this year, and its operating conditions were generally unsatisfactory. Baocheng's consolidated revenue for the first seven months was 142.272 billion yuan, a year-on-year decrease of 22.1%, which was a record low for the same period in the past six years; Fengtai's consolidated revenue for the first seven months was 39.204 billion yuan, a year-on-year decrease of 4.9%; Yuqi's consolidated revenue for the first seven months was 62.93 100 million yuan, an annual decrease of about 14%.

The three shoemakers believe that the second season should be the bottom of this year. Since June, the major shoe material manufacturer Taiwan Baihe, orders from Nike and Adidas are also showing signs of heating up.

With the slowdown of the epidemic in mainland China, Baocheng's retail stores in mainland China have fully resumed operations. Since May, the sales performance has rebounded, and in July it increased by 0.8% over the same period last year. Driven by the resumption of work at the Indian factory, Winterthur also pushed up the production of finished shoes in July by 5.1%.

Yu Qi’s July revenue increased by 20% compared to June, the second highest in the same period in history and a single-month high this year; Yu Qi said that the current negative impact of the new crown epidemic has gradually receded, and the operating rhythm is expected to return to normal in the second half of the year.




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