今天上午，泉州市委、市政府召开2026年泉州市民营经济发展大会。政企齐聚"新春第一会"，聚焦"传 承弘扬、创新发展'晋江经验'，深化要素市场化配置综合改革，激发民营经济发展活力"主题，共话发 展大计，共绘奋进蓝图，为"十五五"开好局、起好步凝聚强大合力。 会上，2025年度泉州市民营企业纳税百强正式公布。九牧集团纳税超9亿元，与安踏、达利等知名企业 位列前三！ 2025年度泉州市 民营企业纳税排名 (部分) 、纳税超30亿元企业(1家) 安踏体育用品集团有限公司 二、纳税超10亿元企业(1家) 达利食品集团有限公司 九牧集团有限公司 四、纳税超7亿元企业(2家) 福建恒安集团有限公司 特步集团有限公司 五、纳税超6亿元企业(1家) 三六一度(中国)有限公司 数据来源:2026年泉州市民营经济发展大会 责任编辑：何俊熹 三、纳税超9亿元企业(1家) 九牧集团有限公司 四、纳税超7亿元企业(2家) 福建恒安集团有限公司 特步集团有限公司 今天上午，泉州市委、市政府召开2026年泉州市民营经济发展大会。政企齐聚"新春第一会"，聚焦"传 承弘扬、创新发展'晋江经验'，深化要素市场化配置综合改革，激发民营经济发展活力" ...

Market Overview - The textile and apparel sector in A-shares has outperformed the broader market since February, with the textile manufacturing segment rising by 3.6% compared to a 2.0% increase in brand apparel [11] - The Hong Kong textile and apparel index has increased by 4.4% since February, also outperforming the market [11] - Notable companies with significant stock price increases include Under Armour (14.9%), Amer Sports (9.7%), and Jiangnan Buyi (9.6%) [11] Brand Apparel Insights - In December, the year-on-year growth of clothing retail sales was 0.6%, with a slowdown in growth compared to previous months [5] - January saw a 32.5% decline in operating income for sports retailer BaoSheng International, indicating pressure on overall clothing retail [5] - E-commerce sales rebounded in January, driven by promotional activities and pre-Spring Festival purchasing [5] - Outdoor apparel categories showed strong growth, with year-on-year increases of 17% for outdoor clothing and 5% for sports apparel [5] - Leading brands in growth include Lululemon (47%), Descente (29%), and Adidas (16%) in the sports apparel segment [5] Textile Manufacturing Insights - Vietnam's textile exports increased by 8.3% year-on-year in January, while footwear exports rose by 7.8% [5] - The macroeconomic environment shows mixed signals, with PMI in Indonesia and India rising, while Vietnam's PMI decreased slightly but remains above 50 [5] - Wool prices have increased by 15.3% since the beginning of the year, with a year-on-year increase of 54.9% as of February 5 [5] - Taiwanese companies are experiencing short-term revenue pressure but show optimistic growth prospects, particularly with the upcoming 2026 World Cup driving demand for football-related products [5] Company Performance Forecasts - Several companies in the textile and apparel sector, including Bailong Dongfang and Tianhong International, are expected to see net profit growth of over 40% [2] - Key drivers for profit growth include increased order volumes, improved capacity utilization, and lower raw material costs [2] - Le Xin Outdoor, a leading global fishing gear manufacturer, is projected to maintain a 23.1% market share in 2024 [2] Investment Recommendations - The report suggests focusing on brands that are likely to benefit from the Spring Festival sales surge and the performance elasticity of upstream suppliers [5] - High-end consumer recovery is anticipated, particularly in the light luxury sports and outdoor segments [5] - Companies such as Anta Sports, Li Ning, and Xtep International are recommended for their strong positioning in the market [5] - The report highlights the importance of the upcoming 2026 World Cup in driving orders for sports apparel and footwear [5]

Market Overview - The textile and apparel sector in A-shares has outperformed the broader market since February, with the textile manufacturing index rising by 3.6% and the brand apparel index by 2.0% [11] - The Hong Kong textile and apparel index has increased by 4.4% since February, also outperforming the market [11] - Notable companies with significant stock price increases include Under Armour (14.9%), Amer Sports (9.7%), and Jiangnan Buyi (9.6%) [11] Brand Apparel Insights - In December, the year-on-year growth of clothing retail sales was 0.6%, with a slowdown in growth compared to previous months [5] - January saw a 32.5% decline in operating income for sports retailer BaoSheng International, attributed to the timing of the Spring Festival [5] - E-commerce sales in January rebounded, driven by promotional activities and pre-holiday purchases, with outdoor apparel leading growth at 17% year-on-year [5] - Key brands showing strong growth in the sports apparel category include Lululemon (47%), Descente (29%), and Adidas (16%) [5] Textile Manufacturing Insights - Vietnam's textile exports increased by 8.3% year-on-year in January, while footwear exports rose by 7.8% [5] - The macroeconomic environment shows mixed signals, with PMI in Indonesia and India rising, while Vietnam's PMI slightly decreased but remains above 50 [5] - Wool prices have increased by 15.3% year-to-date, with a year-on-year increase of 54.9% as of February 5 [5] - Companies like RuHong and GuangYue are experiencing revenue growth due to order continuity and optimized production structures [5] Annual Performance Forecasts - Several companies in the textile and apparel sector, including Bailong Dongfang and Tianhong International, have issued profit forecasts indicating over 40% growth in net profit [2] - Factors contributing to this growth include full order books, improved capacity utilization, and declining raw material costs [2] Investment Recommendations - The report suggests focusing on brands that are likely to benefit from the Spring Festival sales surge and the performance elasticity of upstream suppliers [5] - High-end consumer recovery is anticipated, particularly in the light luxury sports and outdoor segments [5] - Key recommendations include Anta Sports, Li Ning, and Xtep International, which are well-positioned to capture market growth [5] Key Company Earnings Forecasts - Anta Sports is rated "Outperform" with an expected EPS of 4.72 for 2025 and 4.98 for 2026 [6] - Li Ning is also rated "Outperform" with an expected EPS of 1.01 for 2025 and 1.08 for 2026 [6] - Other companies such as Xtep International and 361 Degrees are similarly rated "Outperform" with positive earnings forecasts [6]

Core Insights - 361° has officially entered JD's instant delivery service, expanding its reach to over 1,000 stores across more than 160 cities in China, offering a fast shopping experience for consumers [1][3] - The brand focuses on sports technology research and enhancing consumer experience, aiming to provide high-quality sports gear for enthusiasts [3] - The partnership with JD allows 361° to break traditional retail limitations, offering immediate access to sports products and services, catering to the growing demand for convenience and efficiency in shopping [3][4] Company Strategy - The entry into JD's instant retail marks a strategic move for 361°, aligning with the concept of "anytime sports, anytime gear" [3] - The collaboration leverages JD's extensive user base and efficient delivery capabilities, enhancing the consumer experience by providing immediate access to products [3] - The brand aims to support sports enthusiasts comprehensively, from equipment to experience, through an integrated approach of "product + instant service" [3] Market Trends - Instant retail is becoming a crucial direction for sports brands to expand channels and improve service, driven by increasing consumer demand for shopping efficiency [3] - JD's instant delivery service has seen significant growth, with over 230% year-on-year increase in transaction volume for sports apparel since February [3] - By 2025, JD plans to onboard over 1,000 fashion merchants, indicating a robust growth trajectory in the instant retail sector [3]

Core Insights - 361° has officially announced a deep collaboration with JD's instant delivery service, marking its entry into the instant retail sector [1] - The partnership aims to provide consumers with a fast shopping experience, allowing for online orders and store delivery across over 160 cities and more than 1,000 stores [1] Group 1 - The collaboration enables consumers to order a wide range of products, including running shoes, basketball apparel, and training gear, catering to various sports enthusiasts [3] - Customers can benefit from promotional offers such as a discount of 30 yuan on purchases over 300 yuan and free shipping on orders [4][5] - The service promises delivery in as fast as 9 minutes, enhancing the convenience of shopping for sports equipment [4][5] Group 2 - 361° focuses on sports technology research and enhancing consumer experience, with this partnership representing a strategic move into instant retail [7] - The collaboration with JD's instant delivery service breaks traditional retail time and space limitations, creating a new consumption scenario where products can be bought and received immediately [7] - Future plans include building an integrated sports ecosystem that combines products with instant services, optimizing inventory management, and expanding service scenarios [7]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 361度國際有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01361 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1, ...

Core Insights - The sports brand industry is experiencing a duality, with a strong growth in overall market demand but intense price competition, leading to a critical point in the product lifecycle [1][2] Industry Overview - The sports and outdoor market continues to grow, with apparel showing a clear "volume and price increase" trend driven by high-priced brands, while footwear is experiencing a "volume increase and price drop" trend [2][3] - In Q4 2025, the overall sports category saw a slight price increase of 0.9% but a sales volume decline of 1.7%, with outdoor products achieving a sales growth of 13.5% [3] International Brands - Nike is undergoing significant adjustments, with a 15.5% year-on-year sales decline and a market share drop to 9.7%, while Adidas also saw a 6.2% sales decline but maintained a market share of 8.5% [4] - Adidas' basketball shoes and casual shoes are experiencing growth despite overall declines in other categories [4] Domestic Brands - Domestic brands are facing substantial price competition, with a slight decline in market share across four major brands, while professional products are receiving positive market feedback [5] - The pricing strategy of domestic brands has led to only marginal sales increases, particularly in footwear [5] Key Takeaways - The industry shows strong growth potential, with a stable penetration rate in the sports and outdoor sector, while price competition intensifies [6] - Nike is under pressure with ongoing product adjustments, while Adidas stabilizes its market share with specific product growth [6] - Domestic brands are leveraging professional product lines to maintain market presence amidst increasing price competition [6]

（ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） （股份代號：1361） 董事會會議通知 361度 國 際 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）謹 此 公 佈，董 事 會 謹 訂 於 二 零 二 六 年 三 月 二 十 四 日（星 期 二）舉 行 董 事 會 會 議，以（其 中 包 括）考 慮 及 批准本公司及其附屬公司截至二零二五年十二月三十一日止年度的經審核業 績 及 建 議 末 期 股 息（如 有）。 承董事會命 361度國際有限公司 公司秘書 鄺兆強 香港交易及結算所有限公司及香港聯合交易所有限公司對本通告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 通 告 全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 香 港，二 零 二 六 年 一 月 二 十 七 日 於 本 公 佈 日 期，董 事 如 下： 執 行 董 事： 丁伍號先生 獨 立 非 執 行 董 事： 胡明偉先生 韓炳祖先生 陳闖先生 Ferheen Mahomed女 士 丁輝煌先生 （主 席） 丁 ...

Core Insights - The article emphasizes the importance of integrating cultural symbols, sports spirit, core technology, and key market segments for brands to maintain a competitive edge in the market during the Year of the Horse [1][34] - The marketing strategies of various sports brands during the Year of the Horse are highlighted, showcasing their efforts to avoid homogenization and find a balance between cultural deconstruction and brand expression [5][34] Group 1: Cultural Significance of the Horse - The preference for the "Horse" symbol among sports brands is rooted in its rich cultural connotations and strong spiritual symbolism, representing speed, endurance, and success [2][4] - The Horse's image resonates deeply with consumers, making it an effective marketing symbol that connects emotionally and culturally [2][4] Group 2: Marketing Strategies - Brands are employing three main marketing strategies: cultural empowerment, emotional resonance, and product performance linkage [5][13] - Cultural empowerment involves leveraging traditional symbols and values associated with the Horse to create meaningful marketing narratives [5][7] - Emotional resonance focuses on connecting the Horse's spirit with consumers' experiences and attitudes towards life and sports [13][15] Group 3: Product Integration - Brands are integrating the Horse's imagery and spirit into their product designs, enhancing the emotional and cultural value of their offerings [4][9] - Examples include PUMA's "Puma Power" series and Anta's collaboration with Xu Beihong's "Galloping Horses" painting, showcasing a blend of traditional art and modern sports aesthetics [7][9] Group 4: Future Marketing Opportunities - The Year of the Horse in 2026 is anticipated to be a significant marketing opportunity, particularly with the integration of the Horse theme into marathon events [28][30] - The alignment of the Horse's symbolism with the endurance and spirit of marathon running presents a unique marketing angle for brands [30][32] - The potential for "Horse Year × Marathon" marketing strategies could lead to innovative product offerings and deeper consumer engagement [32][34]

Group 1 - The top three companies with net inflow of southbound funds are SMIC (10.84 billion), Xiaomi Group (8.70 billion), and Hua Hong Semiconductor (5.82 billion) [1] - The top three companies with net outflow of southbound funds are China Mobile (-11.60 billion), Alibaba Health (-4.83 billion), and Kuaishou-W (-4.55 billion) [1] - In terms of net inflow ratio, Qinhuangdao Port (82.38%), 361 Degrees (76.04%), and Southern Hong Kong Stock Connect (62.50%) lead the market [1] Group 2 - The top ten companies with the highest net inflow include SMIC (10.84 billion, 15.56%), Xiaomi Group (8.70 billion, 11.77%), and Hua Hong Semiconductor (5.82 billion, 15.18%) [2] - The top ten companies with the highest net outflow include China Mobile (-11.60 billion, -39.71%), Alibaba Health (-4.83 billion, -20.48%), and Kuaishou-W (-4.55 billion, -15.50%) [2] - The top three companies with the highest net inflow ratio are Qinhuangdao Port (82.38%), 361 Degrees (76.04%), and Southern Hong Kong Stock Connect (62.50%) [2][3] Group 3 - The top three companies with the highest net outflow ratio are Jiangnan Buyi (-60.89%), Yancoal Australia (-60.02%), and Standard Chartered Group (-56.28%) [3] - Other notable companies with significant net outflow include Tianli International Holdings (-55.78%) and China Shenhua Energy (-48.70%) [3]