本文源自财华网 【财华社讯】子不语(02420.HK)公布，预计截至2025年6月30日止六个月，收入约19亿元至约20.47亿元 (人民币,下同)，同比增长约30%至40%；净利润约1亿元至1.1亿元，同比增长约10%至20%。主要由于集 团收入持续增加，致毛利相应增加；及聚焦精细化运营，效率不断提升，利润稳步上涨。 ...

【财华社讯】子不语(02420.HK)公布，预计截至2025年6月30日止六个月，收入约19亿元至约20.47亿元 (人民币,下同)，同比增长约30%至40%；净利润约1亿元至1.1亿元，同比增长约10%至20%。主要由于集 团收入持续增加，致毛利相应增加；及聚焦精细化运营，效率不断提升，利润稳步上涨。 本文源自：财华网 ...

Major Events - Shiyao Group's (01093) application for the listing of Semaglutide injection has been accepted by the National Medical Products Administration (NMPA) [1] - Gilead Sciences-B (01672) has completed the enrollment of overweight or obese subjects in the Phase IIa study of the small molecule oral GLP-1R agonist ASC30 in the United States [1] - China Biopharmaceutical (01177) has received NMPA approval for the clinical trial application of TQC3302 "ICS/LAMA/LABA soft mist inhalation preparation" [1] - Jiaogepeng Holdings (01450) plans to acquire 100% equity of Hangzhou Jiaogepeng Education Technology Co., Ltd. for 180 million yuan [1] Financial Data - China Tower (00788) reported a mid-term profit attributable to shareholders of 5.757 billion yuan, an increase of 8.0% year-on-year, with the revenue share from its two wings business exceeding 14% [1] - Techtronic Industries (00669) reported a mid-term profit attributable to shareholders of 628 million USD, an increase of 14.17% year-on-year, with a dividend of 1.25 HKD per share [1] - Yum China (09987) reported a second-quarter operating profit of 304 million USD, a year-on-year increase of 14% [1] - Zibuyu (02420) issued a profit warning, expecting mid-term revenue to increase by approximately 30%-40% to between 1.9 billion and 2.047 billion yuan [1] - Angelalign (06699) issued a profit warning, expecting net profit for the first half of the year to be approximately 13.4 million to 14.8 million USD, a year-on-year increase of approximately 538.1% to 604.8% [1] - Boya Interactive (00434) issued a profit warning, expecting mid-term profit attributable to shareholders to decrease by approximately 25% to 35% [1] - Zhenjiu Lidu (06979) issued a profit warning, expecting mid-term net profit attributable to shareholders to decline by 23% to 24% [1] - Fourth Paradigm (06682) expects a narrowed adjusted net loss for the mid-term, down 68% to 73% year-on-year [1]

这主要是以下事件的综合影响：(i)深耕品牌和渠道建设，致集团收入持续增加，致毛利也相应增加;及 (ii)聚焦精细化运营，效率不断提升，利润稳步上涨。 子不语(02420)发布公告，集团预计截至2025年6月30日止六个月的收入将约人民币19亿元至约人民币 20.47亿元，相比截至2024年6月30日止六个月的收入约人民币14.62亿元，预计同比增长约30%至40%;集 团预计报告期间将取得净利润约人民币1亿元至约人民币1.10亿元，相比截至2024年6月30日止六个月的 净利润约人民币9140万元，预计同比增长约10%至20%。 ...

本文源自：金融界AI电报 子不语(02420.HK)发布公告，集团预计截至2025年6月30日止六个月的收入将约人民币19亿元至约人民 币20.47亿元，相比截至2024年6月30日止六个月的收入约人民币14.62亿元，预计同比增长约30%至40%; 集团预计报告期间将取得净利润约人民币1亿元至约人民币1.10亿元，相比截至2024年6月30日止六个月 的净利润约人民币9140万元，预计同比增长约10%至20%。 ...

这主要是以下事件的综合影响：(i)深耕品牌和渠道建设，致集团收入持续增加，致毛利也相应增加;及 (ii)聚焦精细化运营，效率不断提升，利润稳步上涨。 子不语(02420)发布公告，集团预计截至2025年6月30日止六个月的收入将约人民币19亿元至约人民币 20.47亿元，相比截至2024年6月30日止六个月的收入约人民币14.62亿元，预计同比增长约30%至40%;集 团预计报告期间将取得净利润约人民币1亿元至约人民币1.10亿元，相比截至2024年6月30日止六个月的 净利润约人民币9140万元，预计同比增长约10%至20%。 ...

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: 2025年7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: 子不語集團有限公司 呈交日期: 2025年8月5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) | 02420 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,000,000,000 | USD | 0.00005 | USD | | 100,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 2,000,000,000 | USD | 0.00005 | USD | | 100,000 | 本月底法定/註冊股本總額： USD 100,000 ...

（股份代號：2420） 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 ，並明確表示概不會就本公告全部或任何部 分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 。 Zibuyu Group Limited 子不語集團有限公司 （於開曼群島註冊成立的有限公司） 主席 華丙如先生 正面盈利預告 本公告由子不語集團有限公司（「本公司」，連同其附屬公司統稱為「本集團」）根據香 港聯合交易所有限公司證券上市規則（「上市規則」）第13.09(2)(a)條及香港法例第 571章證券及期貨條例第XIVA部項下的內幕消息條文（定義見上市規則）而作出。 本公司董事（「董事」）會（「董事會」）謹此知會本公司股東（「股東」）及潛在投資者，基 於本集團截至2025年6月30日止六個月（「報告期間」）未經審核綜合管理賬目及董事 會目前所得資料的初步評估，本集團預計報告期間的收入將介乎約人民幣1,900百 萬元至約人民幣2,047百萬元，相比截至2024年6月30日止六個月的收入約人民幣 1,462.1百萬元，預計同比增長約30%至40%；本集團預計報告期間將錄得淨 ...

Summary of Key Points Core Viewpoint - As of July 3, a total of 120 stocks reached their 52-week highs, indicating a strong market performance with notable leaders in the list [1]. Group 1: Top Performers - The top three stocks with the highest increase rates are: - 富誉控股 (Fuyou Holdings) at 90.76%, closing at 0.435 with a peak of 0.475 [1] - 信义能源 (Xinyi Energy) at 65.00%, closing at 1.200 with a peak of 1.980 [1] - 中国三三传媒 (China San San Media) at 42.86%, closing at 1.710 with a peak of 1.900 [1] Group 2: Additional Notable Stocks - Other notable stocks include: - ITE HOLDINGS at 34.21% increase, closing at 0.047 with a peak of 0.051 [1] - 星凯控股 (Xingkai Holdings) at 30.00%, closing at 0.480 with a peak of 0.650 [1] - 北京北辰实业股份 (Beijing Beichen Industrial) at 26.47%, closing at 0.940 with a peak of 1.290 [1] Group 3: Overall Market Trends - The overall trend shows a significant number of stocks achieving new highs, reflecting positive investor sentiment and market conditions [1].

Summary of Conference Call Records Company Overview - The company, referred to as "子不语," is one of the largest cross-border e-commerce companies in the footwear and apparel category in China, headquartered in Hangzhou. It operates through multiple subsidiaries in cities like Guangzhou, Shenzhen, Dongguan, Fuzhou, Ningbo, and Vietnam, utilizing a global, multi-channel, and multi-platform business model [2][3]. Financial Performance - In 2024, the company achieved a revenue of 3.3 billion yuan, representing a year-on-year growth of 10.8%. The gross margin improved to 24.7%, and the net profit attributable to shareholders was 150 million yuan, marking a turnaround from previous losses. Operating cash flow reached 260 million yuan, with cash reserves of 450 million yuan, an increase of 61% year-on-year [1][2][3]. Strategic Focus - The company is shifting its strategic focus towards the Amazon platform, concentrating on ten core brands to penetrate the high-end market. These brands contributed approximately 35% of total revenue in 2024, with expectations to increase to over 45% in 2025 [1][6]. - The core brands include R 高端 (high-end independent site), CCBell, Solid Muscle, Very, Tencel, Yankati, Hello Morning, Control, and UCB [1][6]. Market Dependency and Diversification - The U.S. market accounts for over 95% of the company's cross-border e-commerce business. To mitigate reliance on the U.S. market and Amazon, the company aims to reduce this dependency to below 90% by 2025 through a diversification strategy and global supply chain layout [2][10]. - The company plans to increase overseas production capacity to over 20% of total capacity by 2025, currently relying on approximately 200 OEM manufacturers [2][18][19]. Cost Structure and Tariff Impact - The cost structure includes product costs (20%), freight (2%-4%), marketing (15%), platform fees (15%), and internal salaries (7%-8%). Tariff costs are approximately 3% of total costs, expected to rise to 5%-6% due to increased tariffs [2][11][12]. - The company employs a shipping strategy primarily using sea freight, supplemented by air freight, to manage costs associated with tariffs. The impact of tariffs is more pronounced on air freight and small package direct mail [1][8][12]. Inventory and Pricing Strategy - The company has a significant inventory buffer, with 80% of total inventory in overseas warehouses or in transit. Price increases may lead to a decline in sales, but the exact impact will depend on various sensitivity assumptions [9][13]. - Currently, the company has not implemented price increases but is considering an average increase of around 1 USD per item in response to rising costs [13][24]. Future Market Expansion - The company plans to accelerate development in emerging markets, including Europe, the Middle East, and Australia, while maintaining a focus on high-value products through independent sites [22][23]. - There are no plans to shift towards domestic sales due to intense competition in the domestic apparel market [23]. Seasonal Trends - The company experiences significant seasonal sales, particularly in the first and fourth quarters, with promotional activities contributing to higher revenue during these periods [28]. Conclusion - The company is navigating a complex landscape of tariffs and market dependency while strategically positioning itself for growth through brand focus, market diversification, and supply chain optimization. The emphasis on high-end products and overseas production capacity is expected to enhance competitiveness in the global market.