Core Viewpoint - 361 Degrees International Limited reported strong mid-year results for 2025, with revenue reaching 5.705 billion yuan, an 11% year-on-year increase, and net profit attributable to equity holders of 858 million yuan, up 8.6% year-on-year, marking four consecutive years of high growth [1][2][10] Group 1: Financial Performance - The company achieved a significant increase in operating cash flow, which reached 524 million yuan, a 227% year-on-year growth [1] - The interim dividend per share was set at 0.187 yuan, with a payout ratio of 45% [1] - The company has transformed from a "new entrant" to a "steady leader" in the industry, establishing a solid foundation for sustainable and high-quality growth [1] Group 2: Business Segments and Growth Drivers - The children's clothing segment showed strong growth, with retail sales of 1.26 billion yuan, a 11.4% increase year-on-year, becoming the second growth curve for the company [2][4] - E-commerce revenue reached 1.82 billion yuan, a 45% year-on-year increase, driven by digital transformation and innovative sales strategies [6] - The company has established a diverse retail presence with 49 "super product" stores across the country, enhancing customer experience and driving sales growth [9] Group 3: Innovation and Technology - The company has invested significantly in R&D, with expenses reaching 342 million yuan in 2024, maintaining over 3% of revenue for nearly a decade, leading the industry average [11] - 361 Degrees has developed innovative technologies such as FLASH technology and adaptive arch systems, enhancing product capabilities [4][13] - The introduction of new products, including 230 new footwear items in the first half of 2025, reflects the company's commitment to product innovation and market responsiveness [11] Group 4: Market Position and Future Outlook - The global sales network has expanded, with significant growth in cross-border e-commerce, achieving a 94% year-on-year increase in sales [7] - The overall sportswear market in China is projected to grow from 492.6 billion yuan in 2023 to 598.9 billion yuan by 2025, indicating a favorable market environment for the company [14] - The company aims to continue leveraging its innovation strategy across various dimensions to solidify its industry position and create value for investors [14]

Core Insights - The company reported a revenue of 5.705 billion RMB for the fiscal year 2025, representing an 11% year-on-year growth [2] - Gross profit reached 2.366 billion RMB, with a year-on-year increase of 11.4% [2] - Shareholder profit attributable to the company was 858 million RMB, marking an 8.6% increase compared to the previous year [2] - Basic earnings per share were 0.415 RMB, and the company proposed an interim dividend of 0.204 HKD per share [2] Performance Drivers - The growth in performance was driven by strong demand in both adult and children's product markets [2] - The e-commerce segment showed remarkable performance, generating 1.817 billion RMB in revenue, which accounted for 31.8% of total revenue and increased by 45% year-on-year [2] Store Expansion - As of June 30, 2025, the total number of brand stores reached 5,669, with an average store size of 156 square meters, reflecting a net increase of 7 square meters since the end of 2024 [2] - Approximately 76% of the stores are located in third-tier and lower-tier cities in China [2]

Core Viewpoint - 361 Degrees (01361.HK) reported a revenue of approximately 5.705 billion RMB for the six months ending June 30, 2025, reflecting an 11% year-on-year increase [1] Financial Performance - Revenue increased to approximately 5.705 billion RMB, up 11% year-on-year [1] - Gross profit reached about 2.366 billion RMB, representing an increase of 11.4% year-on-year [1] - Profit attributable to equity holders was approximately 858 million RMB, marking an 8.6% year-on-year increase [1] - Basic earnings per share were 41.5 cents [1] - The company declared an interim dividend of 20.4 Hong Kong cents per share [1] Business Segments - The children's business segment generated revenue of approximately 1.261 billion RMB, accounting for about 22.1% of total revenue, with a year-on-year growth of 11.4% [1] - The e-commerce segment's online exclusive products achieved revenue of 1.817 billion RMB, representing 31.8% of total revenue, with a significant year-on-year increase of 45% [1] - Overseas revenue from cross-border e-commerce rose to 87.6 million RMB, up from 73.2 million RMB in the previous period, accounting for 1.5% of total revenue, compared to 1.4% in the prior period [1]

Core Insights - The company reported a revenue of RMB 5.705 billion for the first half of 2025, representing a year-on-year growth of 11.0% [1] - Gross profit reached RMB 2.366 billion, with a year-on-year increase of 11.4% [1] - Profit attributable to equity holders was RMB 858 million, reflecting an 8.6% year-on-year growth, with basic earnings per share at RMB 0.415 [1]

公告称，得益于市场对集团产品的强劲需求，成人及儿童类别均取得可喜的增长率。 361度(01361)发布2025年度中期业绩，收益57.05亿元(人民币，下同)，同比增加11%;毛利23.66亿元，同 比增加11.4%;权益持有人应占溢利8.58亿元，同比增加8.6%;每股基本盈利41.5分;拟派发中期股息每股 0.204港元。 于回顾期内，集团电子商务业务的线上专卖产品取得收益达到18.17亿元，占集团总收益的31.8%，同比 增长45.0%。 于2025年6月30日，集团共有5669间361品牌门店;单店平均面积达156平方米，同2024年12月31日相比， 净增加7平方米。按区域划分，约76.0%的门店位于中国三线及三线以下城市，而5.3%及18.7%的门店分 别位于中国一线及二线城市。集团鼓励分销商及授权零售商继续开设更大规模店面及升级至最新形象 店，以及增加在商场、百货及购物中心的新门店数量。2025年上半年，集团门店渠道结构持续优化，门 店平均面积及平均店效持续稳定提升，终端的零售流水表现持续强劲。 ...

Core Points - The company 361 Degrees (01361.HK) reported a mid-year performance for 2025 with revenue of 5.705 billion RMB, reflecting an 11% year-on-year increase [1] - Gross profit reached 2.366 billion RMB, marking an increase of 11.4% compared to the previous year [1] - Profit attributable to equity holders was 858 million RMB, which is an 8.6% increase year-on-year [1] - Basic earnings per share were reported at 41.5 cents [1] - The company proposed an interim dividend of 0.204 HKD per share [1]

Core Viewpoint - 361 Degrees reported a strong performance for the interim results of 2025, with significant growth in revenue and profit driven by robust market demand for its products [1] Financial Performance - Revenue reached 5.705 billion RMB, an increase of 11% year-on-year [1] - Gross profit was 2.366 billion RMB, reflecting an increase of 11.4% year-on-year [1] - Profit attributable to equity holders was 858 million RMB, up by 8.6% year-on-year [1] - Basic earnings per share were 41.5 cents [1] - The company proposed an interim dividend of 0.204 HKD per share [1] Business Segments - Both adult and children's product categories experienced notable growth rates due to strong market demand [1] - E-commerce business generated revenue of 1.817 billion RMB, accounting for 31.8% of total revenue, with a year-on-year growth of 45% [1] Store Network - As of June 30, 2025, the company operated 5,669 361º brand stores, with an average store size of 156 square meters, a net increase of 7 square meters compared to December 31, 2024 [1] - Approximately 76% of stores are located in China's third-tier and lower cities, while 5.3% and 18.7% are in first-tier and second-tier cities, respectively [1] - The company encourages distributors and authorized retailers to open larger stores and upgrade to the latest store formats, as well as to increase the number of new stores in malls, department stores, and shopping centers [1] - The store channel structure continued to optimize in the first half of 2025, with stable improvements in average store size and performance [1]

第 1 頁 共 2 頁 v 1.1.1 EF001 EF001 | 發行人所發行上市權證/可轉換債券的相關信息 | | | --- | --- | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公佈日期，本公司董事會包括四名執行董事，即丁伍號先生、丁輝煌先生（主席）、丁輝榮先生及王加碧先生，及四名獨立非 | | | 執行董事，即胡明偉先生、韓炳祖先生、陳闖先生及Ferheen Mahomed女士。 | | 免責聲明 第 2 頁 共 2 頁 v 1.1.1 | 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公告的內容概不負責，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 | | | --- | --- | | 公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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 361度國際有限公司 | | 股份代號 | 01361 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | ...

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 公 佈 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 公 佈 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。 （於開曼群島註冊成立的有限公司） （股份代號：1361） 二 零 二 五 年 度 中 期 業 績 公 佈 361度 國 際 有 限 公 司（「本 公 司」）董 事 會（「董 事 會」）謹 此 宣 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 的 未 經 審 核 業 績。本 公 佈 列 載 本 公 司 截 至 二 零 二 五 年 六 月 三 十 日 止 六 個 月 的 中 期 報 告（「二 零 二 五 年 中 期 報 告」）全 文，並 符 合 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）證 券 上 市 規 則（「上 市 規 則」） ...

Investment Rating - The report maintains an "Outperform" rating for the industry [3] Core Insights - Suzano announced a price increase of $20 per ton for commodity pulp in the Asian market for August, indicating a potential recovery in pulp and paper prices from current cyclical lows [2][4] - The report highlights the ongoing price adjustments in the paper industry, with various paper types experiencing different price movements, suggesting a recovery trend driven by supply-demand dynamics [4][50] - The report emphasizes the importance of policy catalysts in the home furnishing sector, particularly in light of recent housing policy optimizations in Beijing [4][31] Summary by Sections Home Furnishing - Recent policy changes in Beijing allow families to purchase multiple properties outside the city center, which is expected to stimulate the housing market [4][31] - Major home furnishing companies are currently valued at historical lows, presenting potential investment opportunities as market sentiment improves [4][31] Paper Industry - As of August 8, 2025, various paper prices are reported: double glue paper at 4993.75 CNY/ton (unchanged), copper plate paper at 5320 CNY/ton (unchanged), white card paper at 3955 CNY/ton (down 35 CNY/ton), box board paper at 3463.4 CNY/ton (up 12.8 CNY/ton), and corrugated paper at 2582.5 CNY/ton (up 46.25 CNY/ton) [4][50] - The report notes that the current pulp and paper prices are at cyclical lows, with expectations for a rebound due to supply-demand imbalances [4][50] Consumer Goods - The report discusses the launch of new health-focused products in the personal care sector, indicating a shift towards higher quality and compliance with health standards [4][6] - The collaboration between Morning Glory stationery and popular anime IPs is expected to enhance brand visibility and sales [4][6] Export Chain - In July, China's total exports increased by 7.2% year-on-year, with significant growth in exports to ASEAN countries [4][6] - The report suggests that the ongoing shift of production capacity to Southeast Asia may enhance the long-term competitiveness of companies with overseas supply chain layouts [4][6] Packaging - New regulations in Shanghai aimed at reducing single-use plastics are expected to drive demand for recyclable and biodegradable packaging solutions [4][6] - The report recommends companies involved in eco-friendly packaging solutions as potential investment opportunities [4][6] New Tobacco Products - The introduction of new electronic cigarette products in the UK is anticipated to boost market share for refillable devices [4][6] - The report highlights the potential for growth in the new tobacco sector, particularly for companies with strong partnerships and product offerings [4][6] Textile and Apparel - The textile and apparel sector has shown resilience, with notable increases in revenue for key players despite some challenges [4][6] - The report identifies leading companies in the apparel sector as potential investment opportunities based on their performance [4][6]