Crystal International (F.Y. 2024-2025)
Executive Summary
Crystal International Limited is a world’s leading apparel manufacturing company. The company operates lifestyle wear, sportswear and outdoor apparel, denim, etc. The company operates its business network in Vietnam, China, Cambodia, Bangladesh, and Sri Lanka. During 2025, the company has strong financial performance. The company has faced challenges such as change in the economic market, change in trade policy, and tariff. Crystal International focuses on innovation, digital transformation, and AI. Crystal International's main focus is on sustainability.
Company Overview
Crystal International was established in 1970 in Hong Kong. The company operates lifestyle wear, sportswear and outdoor apparel, denim, etc. The company operates its business network in Vietnam, China, Cambodia, Bangladesh, and Sri Lanka. During 2025, the company has strong financial performance. Crystal International focuses on innovation, digital transformation, AI and sustainability. The company is expanding its business in Egypt. Crystal International is the world’s largest apparel manufacturing company.
Industry Overview
The apparel manufacturing industry is producing clothing products to international brands and retailers. This industry has operated in fashion trends, customer demand, e-commerce, etc. During 2025, the company has strong financial performance. The company also faced challenges such as change in the economic market, tariffs, rising labour costs, etc. Crystal International focuses on innovation, digital transformation, AI and sustainability. Rising labour costs, labour shortage, and change in trade policy are the main challenges faced by the company.
Financial Performance ( for the year ended 31, December 2025)
Particulars | 2025 (US$’000) | 2024 (US$’000) |
Revenue | 2,641,179 | 2,469,629 |
Cost of sales | (2,115,482) | (1,983,406) |
Gross profit | 525,697 | 486,223 |
Other income, gains or losses | 21,585 | 30,360 |
Impairment losses reversed | ||
-Under expected credit loss model, net | 4,742 | (3,255) |
Selling and distribution expenses | (43,807) | (39,209) |
Administrative expenses | (183,515) | (181,390) |
Research and development expenses | (34,560) | (34,441) |
Finance costs | (12,477) | (11,238) |
Share of results of associates | 854 | (940) |
Profit before tax | 278,519 | 248,110 |
Income tax expense | (53,684) | (47,282) |
Profit for the year | 224,835 | 200,828 |
Source: Annual report of Crystal International 2025
Key Financial Ratio
Particulars | 2025 | 2024 |
Current ratio | 2.34 | 2.05 |
Quick ratio | 1.72 | 1.62 |
Gross profit margin | 19.90% | 19.69% |
Net profit margin | 8.5% | 8.1% |
Return on Asset (ROA) | 10.29% | 8.91% |
Return on equity (ROE) | 13.95% | 13.08% |
Cash ratio | 0.74 | 0.64 |
Debt ratio | 26.24% | 31.89% |
Source: Annual report of Crystal International 2025
SWOT Analysis
Strengths 1.Crystal International is a leading apparel manufacturing company. 2.This company has strong financial performance. 3.The company has a strong focus on sustainability, innovation, etc. 4. The company operates lifestyle wear, sportswear and outdoor apparel, denim, etc. | Weaknesses 1.The company highly depends on the apparel and fashion industry. 2. The company business can be affected by change in exchange rate. 3.Raw material price changes like cotton, fabrics, etc. |
Opportunities 1.The company’s demand is growing for sustainable products. 2.The company is adopting advanced technology. 3.The company’s demand is growing for sportswear, outdoor apparel, etc. | Threats 1.The company has strong competition from global apparel manufacturers. 2.There can be economic slowdown and uncertainty in the market. 3.There can be a rise in raw material price. |
Conclusion
Crystal International Limited is a world’s leading apparel manufacturing company. During 2025, the company has a strong financial position. Crystal International focuses on innovation, sustainability, digital transformation, AI. The company faced challenges such as change in the economic market, change in trade policy, and tariff. The company is expanding its business in Egypt. The company also faced challenges such as rising raw material price, rising costs, and heavy competition. The company has low debt levels. Crystal International is well-established for future growth.