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Peacebird posts profit surge

Chinese apparel company Peacebird has reported its 2023 performance: revenue reached $1.21 billion (7.79 billion RMB), down 9.4% YoY, while net profit surged 127.1% to $65.94 million (422 million RMB). The company’s shift to a functional department system contributed to this growth. Tighter control on discounts and reduced expenses led to improved gross profit margin, reaching 54.1%.

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