北京商报讯（记者 张君花）10月16日，北京商报记者获悉，滔搏正式将其独家运营的北欧高端户外品 牌Norr na推向中国市场——Norr na品牌线上官方旗舰店正式开业。同一时间，该品牌线下限时体验空 间落地上海浦东嘉里城，为消费者提供从线上下单到线下深度体验的闭环式优质购物体验。 ...

智通财经记者 | 张蕊 智通财经编辑 | 任雪松 这样的业绩走势，与运动零售行业的整体低迷密切相关，尤其受到其两大核心合作品牌——耐克与阿迪 达斯在华表现的直接牵动。报告期内，这两大品牌的销售额占到总收入的86.3%，但较上年减少了约15 亿元。 其中，耐克在中国市场的疲软被认为是主要压力来源。数据显示，在相近的财季内，耐克大中华区收入 同比下滑15%，品牌方面将原因归结为客流量显著下降以及市场竞争加剧带来的库存清理压力。相比之 下，阿迪达斯则展现出了一定程度的回暖迹象，其大中华区同期收入实现14.72%的同比增长。 不仅主力品牌承压，滔搏所运营的其他品牌矩阵同样面临挑战，包括彪马、匡威、斯凯奇等在内的十余 个品牌销售额缩水约4亿元。可以看出，滔搏所面临的并非个别品牌的短期波动，而是整个行业所经历 的结构性调整。 面对主力品牌增长放缓与行业整体环境的双重压力，滔搏正将更多目光投向细分垂直赛道，以期开辟新 的增长路径。 滔搏持续拓展品牌合作边界，目前已与超过20个运动品牌建立合作关系，并将跑步与户外品类作为重点 发力方向，这与当前中国运动消费市场日趋专业化、场景化的趋势相吻合。今年以来，滔搏先后获得北 这个月， ...

格隆汇10月9日丨滔搏(06110.HK)宣布，董事会会议将于2025年10月22日(星期三)在香港新界葵涌葵荣路 30-34号The Edge 6楼M1举行，藉以(其中包括)审议及批准本公司及其附属公司截至2025年8月31日止六 个月未经审核的中期业绩及宣派中期股息(如有)。 ...

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。 TOPSPORTS INTERNATIONAL HOLDINGS LIMITED 滔搏國際控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6110） 滔搏國際控股有限公司 主席兼首席執行官 于武 香港，2025年10月9日 於本通告日期，本公司董事會包括執行董事于武先生及梁錦坤先生、非執行董事盛放先生、翁婉菁女士 及胡曉玲女士，以及獨立非執行董事林耀堅先生、華彬先生及黃偉德先生。 董事會會議通告 滔搏國際控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將於 2025年10月22日（星期三）在香港新界葵涌葵榮路30-34號The Edge 6樓M1舉行，藉以 （其中包括）審議及批准本公司及其附屬公司截至2025年8月31日止六個月未經審核之 中期業績及宣派中期股息（如有）。 承董事會命 ...

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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 滔搏國際控股有限公司 呈交日期: 2025年10月2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) | 06110 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | HKD | | 0.000001 | HKD | | 20,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 20,000,000,000 | HKD | | 0.000001 | HKD | | 20,000 | 本月底法定/註 ...

雨中，成都万象城门口排起蜿蜒长队，只为一睹詹姆斯的风采；深圳上城内，哈登的亮相引发了无数闪 光灯的追逐。今年休赛季的"NBA球星中国行"现场，再次展现了耐克与阿迪达斯在中国市场的品牌力。 而这些高光时刻的背后，站着一个大多数消费者并不熟悉的名字——滔搏（HK06110）。 如今，这家零售巨头不再甘于隐身幕后。"以NBA球星中国行为例，相比以往仅提供场地，今年我们已 深度参与到部分NBA球星中国行门店活动的策划与执行全流程。"近日，滔搏方面向《每日经济新闻》 记者透露。 滔搏国际高级副总裁张强在近期的媒体访谈中亦向《每日经济新闻》记者（以下简称NBD）明确表 示，公司不仅要做品牌和消费者的"超级连接器"，更要通过独特的零售体验与价值输出，在用户端建立 清晰的认知身份——"要让消费者认识并记住滔搏"。 耐克DTC战略在华生变，滔搏地位提升 NBD：自耐克新任CEO（首席执行官）艾略特·希尔（Elliott Hill）上台后，耐克的全球渠道策略出现重 大调整，从强调DTC（直接面向消费者渠道）转向重建经销商关系。这对滔搏意味着什么？双方的合作 模式发生了哪些实质性变化？ 张强：耐克的"DTC战略"在中国语境下的含义 ...

Core Insights - The article highlights the rising prominence of Tmall (滔搏) in the Chinese retail market, particularly in the context of its collaboration with Nike and Adidas during the "NBA Stars China Tour" [1][2][3] Group 1: Tmall's Role and Strategy - Tmall is transitioning from a behind-the-scenes player to a more visible role, actively participating in the planning and execution of events like the "NBA Stars China Tour" [2] - The company aims to establish a clear identity among consumers, positioning itself as a "super connector" between brands and consumers through unique retail experiences [2][9] - Tmall's collaboration with Nike has evolved from a simple channel relationship to a deep partnership involving joint planning of products, discounts, and sales strategies [4] Group 2: Market Dynamics and Consumer Behavior - The Chinese sports retail market is undergoing significant changes, including channel diversification, specialized demand, and digital decision-making [7] - Online consumption is increasing in China, with local platforms influencing consumer purchasing decisions more than in Western markets [5] - Tmall is adapting to these changes by enhancing its online presence and developing instant retail capabilities to meet consumer demands [8] Group 3: Retail Transformation and Brand Positioning - Tmall is shifting its store roles to become multi-functional hubs that support private domain operations, live streaming sales, and instant fulfillment [8] - The company is also diversifying its brand strategy by introducing niche brands to capture the trend of consumer upgrading [8] - Tmall is focusing on proactive consumer engagement, moving from a passive approach to actively appearing in consumers' decision-making processes [9]

Investment Rating - The report maintains a "Buy" rating for key companies in the sportswear sector, including Anta Sports, Li Ning, and Xtep International, indicating a positive outlook for their long-term growth potential [4][8]. Core Insights - The sportswear industry is experiencing resilience in demand despite economic fluctuations, driven by increased health awareness and government policies promoting sports participation [1][13]. - In the U.S. and Japan, the growth of the sports industry is attributed to historical factors, including economic recovery, government support, and major sporting events like the Olympics [1][20]. - In China, the running and outdoor segments are key growth drivers, with a projected compound annual growth rate (CAGR) of 16% for high-performance outdoor apparel from 2024 to 2029 [3][30]. Summary by Sections Industry Analysis - The U.S. fitness club membership increased by 3.7% to 68.9 million in 2022, and outdoor activity participation among Americans aged 6 and above grew by 4.1% in 2023 [1][19]. - Japan's sports consumption has been steadily increasing, supported by economic recovery and the Tokyo Olympics, with a focus on low-barrier sports like running and fitness [20][25]. Competitive Factors - Product strength and brand value are critical for leading international sports brands like Nike and Adidas, which focus on product development and brand building [2][32]. - Domestic brands in China, such as Anta and Li Ning, are enhancing their product innovation and brand image through sponsorships and professional athlete endorsements [3][37]. Investment Recommendations - The report highlights Anta Sports as a key player with strong operational capabilities and a projected price-to-earnings (PE) ratio of 18 times for 2025 [4][8]. - Li Ning is recommended for its long-term earnings potential, with a PE ratio of 17 times for 2025, while Xtep International is noted for its stable performance and growth prospects in the running segment, with a PE ratio of 11 times for 2025 [4][8].

Group 1 - The article discusses the increasing competition faced by Arc'teryx as it transitions from a niche brand to a more mainstream one, with new entrants like Tmall's distributor, Tabo, entering the high-end outdoor market [1] - Tabo has secured exclusive operating rights for several international brands in Greater China, including the Canadian trail running brand norda™ and the Norwegian outdoor brand Norrøna, which is seen as a strong competitor to Arc'teryx [1] - The article highlights that Norrøna's prices in overseas markets are higher than those of Arc'teryx, indicating potential for market share competition if Tabo manages the brand effectively [1] Group 2 - Following the "fireworks show" incident, foot traffic at Arc'teryx's store in Shanghai's Qianpu District remains stable, with no significant impact observed on sales [1] - The store's sales personnel reported that customer traffic during the weekend was similar to previous weekends, with discounts on various products ranging from 70% to 90% [1] - Nearby competitors, KOLON SPORT and THE NORTH FACE, also managed by Anta, have implemented crowd control measures, requiring customers to wait outside to enter, indicating a high demand for these brands [2]

Core Viewpoint - The closure of the PUMA store in Jinan's MixC Mall indicates a shift in the retail landscape, with potential implications for PUMA's market presence in China and the operational strategies of its distributor, Tmall International Holdings Limited [1][3]. Group 1: Store Closures and Operations - PUMA has closed its store in Jinan's MixC Mall due to the expiration of the lease, with the possibility of re-entering the market in the future [1]. - Currently, there are four remaining PUMA stores in Jinan, all operated by Tmall International Holdings Limited [3]. - Tmall has been adjusting its store count, with a reported total of 5,020 stores as of February 28, 2025, reflecting an 18.3% year-on-year decrease [3][4]. Group 2: Financial Performance - Tmall's financial report indicates a significant reduction in store numbers, with 1,382 closures leading to a net decrease of 1,124 stores in the past year [3][4]. - The revenue for Tmall in the 2024/2025 fiscal year is projected to decline by 6.6%, totaling 27.01 billion, with a 41.9% drop in profit attributable to equity holders [5]. - PUMA's performance in China remains strong, with the Asia-Pacific region being the only area to show sales growth, particularly in the Greater China region, which has seen positive growth for eight consecutive quarters [5]. Group 3: Market Position and Future Prospects - PUMA ranks as the fifth most valuable global sports brand, according to a report by GYBrand, trailing only behind domestic brands like Anta [5]. - There are rumors regarding the potential sale of PUMA, with Anta and Li Ning being the most discussed potential buyers, although both companies have refrained from commenting on these speculations [5].