Wu Huating, CEO of Chinese designer fashion brand JNBY, stated in response to investor concerns about a potential downgrade of the company’s targets due to overall market weakness that the group’s goal of achieving a 10 billion RMB ($1.4 billion) retail target by fiscal year 2026 remains unchanged. The company will continue to enhance its brand portfolio through self-incubation or acquisitions to propel revenue growth. For the fiscal year 2024, Jiangnan Buyi reported a 17% increase in revenue to 5.24 billion RMB ($722 million), a 19% rise in gross profit to 3.47 billion RMB ($479 million), and a 36.5% surge in net profit to 848 million RMB ($117 million), with a gross margin improvement of 1 percentage point to 66.3%.