China Apparel H1 2026: Growth Concentrates as Winners and Laggards Diverge

EarningsIndustry
โดย WWD·CN·Read original
Summary · why it matters

China's first-half 2026 apparel earnings season shows growth concentrating among stronger brands while legacy casualwear players lose ground. Biemlofe posted revenue growth of 23.7 percent with online sales rising more than 100 percent, and Balabala generated 4.83 billion yuan ($677 million) in first-half revenues, accounting for 71.8 percent of parent company Semir's total revenue. Dazzle Fashion, Ellassay, JNBY and Biemlofe all reported gross margins above 65 percent, while Erdos reported a 43.2 percent increase in first-half net profit. On the losing side, Heilan Home grew revenue 7.4 percent but net profits declined 5.9 percent, Semir's casualwear business grew just 3.4 percent, and Peacebird and Septwolves continue to work through inventory and channel restructuring. China's broader apparel market still grew in the first half, with retail sales of apparel, footwear and knitwear increasing 6.7 percent year-over-year, yet sales at above-quota specialty stores fell 8.7 percent.

Impact on stocks 8

Consumer Discretionary▲ · 1 stocks
JNBY Design Ltd
3306
▲ PositiveCapitalrelevance

JNBY reported gross margins above 65% in H1 2026, placing it among the stronger profitable brands.

Others± Mixed · 7 stocks
Ningbo Peace Bird Fashion
603877
▼ NegativeCapitalrelevance

Peacebird continues to work through inventory and channel restructuring amid diverging apparel results.

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