Athletic footwear manufacturing group Yue Yuen has reported revenues of just over $2 billion for the first quarter of 2024, a decline of 4.9% compared to the same quarter last year.

However, the volume of shoes the group produced in the three-month period was 58.8 million pairs, an increase of 9.1%. Yue Yuen said this increase in volume was an indication of a “gradual recovery trend”. Its average selling price decreased by 9.2% year on year to $19.55 per pair.

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