Chinese leather shoemaker Red Dragonfly, headquartered in Wenzhou, the country's 'shoes capital', has reported a 78% rise in parent company net profits for the first half.

The business attributed this growth to a 33.6%, 35.3% and 38.9% increase to its gross profit margins between 2021 and 2023.  

In terms of operating income, Red Dragonfly registered year-on-year growth of 11%, to the tune of $170 million or ¥1.24 billion.  

Local media said the company had boosted its shoe design efficiency "by a hundredfold” after introducing artificial intelligence capable of processing “hundreds of millions of images”.

Image: Red Dragonfly.

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