Core Viewpoint - Shenzhen Ge Li Si Apparel Co., Ltd. (referred to as "the company") expects steady revenue growth of 1% to 5% year-on-year for 2025, with net profit projected to reach between 160 million to 210 million yuan [1] Group 1: Business Performance - The company's multi-brand matrix is showing robust development, with notable performance from international brands such as self-portrait, Laurèl, and IRO in the domestic market [2] - The company has achieved good revenue growth in the domestic market due to high-quality management of offline stores and rapid development of online platforms [2] - The company has improved operational efficiency and reduced expense ratios in the domestic market, leading to significant profit growth [2] Group 2: Cost Management and Efficiency - The company is implementing cost reduction and efficiency improvement measures in its overseas business, optimizing low-efficiency stores and controlling expenses [2] - There is a noticeable improvement in overseas business profits on a quarterly basis, with significant year-on-year improvement expected [2] Group 3: AI Technology Integration - The company is actively embracing AI technology across its operations, enhancing efficiency in design, supply chain, and brand marketing [2] - AI is being utilized to reshape traditional clothing design processes, automate material demand calculations, and generate promotional content, significantly reducing costs [2] Group 4: Future Planning - For 2026, the company plans to continue investing in existing brand development to adapt to the changing market environment and enhance refined management capabilities [3] - The company will further promote the integration of sales and marketing, as well as the comprehensive application of AI technology to improve operational efficiency [3]

Market Overview - The apparel and home textile sector increased by 0.69% on January 29, with Aokang International leading the gains [1] - The Shanghai Composite Index closed at 4157.98, up 0.16%, while the Shenzhen Component Index closed at 14300.08, down 0.3% [1] Top Performers - Aokang International (603001) closed at 10.44, up 10.01% with a trading volume of 168,500 shares and a turnover of 172 million yuan [1] - Hason Co., Ltd. (603958) closed at 17.38, up 10.00% with a trading volume of 320,100 shares and a turnover of 548 million yuan [1] - Ribor Fashion (603196) closed at 28.68, up 4.94% with a trading volume of 83,700 shares and a turnover of 238 million yuan [1] Underperformers - ST Erya (600107) closed at 5.72, down 4.83% with a trading volume of 106,600 shares and a turnover of 62.08 million yuan [2] - Kanglongda (603665) closed at 35.57, down 4.82% with a trading volume of 53,900 shares and a turnover of 193 million yuan [2] - Bangjie Co., Ltd. (002634) closed at 5.40, down 4.09% with a trading volume of 192,400 shares and a turnover of 105 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 34.88 million yuan from institutional investors, while retail investors saw a net inflow of 47.81 million yuan [2] - The top net inflows from retail investors included Aokang International (603001) with a net inflow of 14.61 million yuan, and Ribor Fashion (603196) with a net inflow of 1.29 million yuan [3] Summary of Capital Flow by Company - Aokang International had a net inflow of 14.61 million yuan from institutional investors, with a net outflow of 619,960 yuan from speculative funds [3] - Hason Co., Ltd. saw a net inflow of 7.06 million yuan from institutional investors, with a net outflow of 5.94 million yuan from speculative funds [3] - Semir Fashion (002563) had a net inflow of 2.69 million yuan from institutional investors, with a net outflow of 2.30 million yuan from speculative funds [3]

Company Overview: Geli Si (歌力思) Key Points Industry and Company Performance - Geli Si has released its 2025 earnings forecast, expecting a net profit attributable to shareholders of 160-210 million yuan, a significant turnaround from a loss of 310 million yuan in the same period last year, indicating a strong recovery in profitability [1] Core Highlights - **Overseas Business Turnaround**: The company has aggressively closed inefficient IRO overseas stores, leading to significant cost reduction and efficiency improvements. The overseas business loss has narrowed from nearly 200 million yuan to several tens of millions, becoming a core source of profit elasticity [1] - **Domestic Brand Matrix Strength**: The performance of international brands such as Self-Portrait, Laurèl, and IRO in the domestic market has been outstanding, driving comparable revenue growth of 1%-5%. Notably, Self-Portrait has continued its growth trend, with sales increasing by 30%-40% during the Double Eleven shopping festival. The integration of IRO's supply chain in China has shown significant results, with its contribution reaching 70% [1]

Company Overview: Geli Si (歌力思) Key Points Industry and Company - The report focuses on Geli Si, a company in the fashion retail industry, specifically addressing its performance and strategic adjustments in both domestic and international markets [1]. Core Insights and Arguments - **Earnings Forecast**: Geli Si has released its earnings forecast for 2025, expecting a net profit attributable to shareholders of 160-210 million yuan, a significant turnaround from a loss of 310 million yuan in the same period last year, indicating a strong recovery in profitability that exceeds market expectations [1]. - **Overseas Business Recovery**: The company has aggressively closed inefficient overseas stores under the IRO brand, leading to significant cost reductions and efficiency improvements. The overseas business, which previously faced nearly 200 million yuan in losses, has narrowed to a loss of only several tens of millions, becoming a core source of profit elasticity [2]. - **Domestic Brand Performance**: Geli Si's domestic brand matrix, including international brands such as self-portrait, Laurèl, and IRO, has shown exceptional performance, contributing to a comparable revenue growth of 1%-5%. Notably, self-portrait has continued its growth trend, with sales increasing by 30%-40% during the Double Eleven shopping festival. Additionally, the integration of IRO's supply chain in China has been effective, with its contribution reaching 70% [2]. Other Important Insights - The strategic decision to close underperforming stores and focus on profitable segments has been a critical factor in the company's turnaround, highlighting the importance of operational efficiency in the retail sector [2].

Core Viewpoint - Shenzhen Geli Si Clothing Co., Ltd. forecasts a steady revenue growth of 1%-5% year-on-year for 2025, with net profit expected to reach approximately 160 million to 210 million yuan, excluding the impact of Ed Hardy no longer being consolidated [1][2]. Group 1: Domestic Business Performance - The multi-brand matrix of the company is steadily developing, with a projected revenue growth of about 1%-5% year-on-year (unaudited) for 2025, driven by strong performances from international brands such as self-portrait, Laurèl, and IRO in the domestic market [3][4]. - The company is enhancing operational efficiency, focusing on the integration of product and sales, and actively promoting the application of AI technology, leading to a decrease in expense ratios in the domestic market and improved profitability [3][4]. Group 2: Overseas Business Improvement - The company is implementing cost reduction and efficiency improvement measures in its overseas operations, optimizing low-efficiency stores, and strictly managing budgets, resulting in a noticeable improvement in overseas profits on a quarterly basis and a significant year-on-year improvement [4]. Group 3: Embracing AI Technology - The company is fully embracing AI technology across the entire operational chain, from design to supply chain, product management, and brand operation, significantly enhancing operational efficiency [2][4]. - AI is being utilized to reshape traditional clothing design processes, automate material demand calculations, and generate promotional content, leading to substantial cost savings in marketing [2][4]. - In 2026, the company plans to continue investing in existing brand development while enhancing refined management capabilities and further promoting the integration of product and sales along with comprehensive AI applications [2][4].

Core Viewpoint - The company, Shenzhen Ge Li Si Apparel Co., Ltd., forecasts a turnaround in profitability for the fiscal year 2025, expecting a net profit attributable to shareholders of between 160 million to 210 million yuan, compared to a loss in the previous year [1][2]. Performance Forecast - The performance forecast period is from January 1, 2025, to December 31, 2025 [1]. - The company anticipates a net profit attributable to shareholders of 160 million to 210 million yuan, marking a significant recovery from a loss of 309.53 million yuan in the previous year [1][2]. - The expected net profit after deducting non-recurring gains and losses is projected to be between 115 million to 172 million yuan [1]. Previous Year Performance - In the previous year, the company reported a net loss attributable to shareholders of 309.53 million yuan and a net loss of 312.70 million yuan after deducting non-recurring gains and losses [1][2]. Reasons for Expected Profitability - The company’s multi-brand matrix is expected to develop steadily, with an estimated revenue growth of 1% to 5% year-on-year, excluding the impact of Ed Hardy, which will no longer be included in the consolidated financial statements [2]. - Notable performance from international brands such as Self-Portrait, Laurèl, and IRO in the domestic market, along with effective management of offline stores and rapid growth in online platforms, is driving revenue growth [2]. - Improved operational efficiency and strict budget management have led to a decrease in domestic market expense ratios, contributing to profit growth [2]. - Cost control measures in overseas operations have resulted in significant improvements in overseas business profits [2]. - The company’s associate, Baiqiu Shangmei, has shown steady growth across its business lines, positively impacting the company's investment income [2]. Impairment Testing - The company is conducting preliminary impairment testing on goodwill and trademark assets related to the IRO brand, with an estimated impairment provision of approximately 60 million to 80 million yuan [3].

（文章来源：证券日报） 证券日报网讯 1月28日，歌力思发布公告称，公司预计2025年度实现归属于上市公司股东的净利润 16000万元至21000万元，与上年同期相比，将实现扭亏为盈。 ...

歌力思（603808）(603808.SH)发布公告，公司预计2025年度实现归属于上市公司股东的净利润1.6亿元 至2.1亿元，与上年同期相比，将实现扭亏为盈。 ...

智通财经APP讯，歌力思(603808.SH)发布公告，公司预计2025年度实现归属于上市公司股东的净利润 1.6亿元至2.1亿元，与上年同期相比，将实现扭亏为盈。 ...

证券代码：603808 证券简称：歌力思 公告编号：2026-001 深圳歌力思服饰股份有限公司 2025 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 1、经财务部门初步测算，预计 2025 年度实现归属于上市公司股东的净利润 16,000 万元至 21,000 万元，与上年同期相比，将实现扭亏为盈。预计 2025 年度 实现归属于上市公司股东的扣除非经常性损益的净利润 11,500 万元至 17,200 万 元。 2、本期业绩预告为公司根据经营情况的初步预测，未经注册会计师审计。 1、2025 年公司旗下多品牌矩阵稳健发展，国内总体保持良好增长态势，考 虑到 Ed Hardy 报告期内不再纳入合并报表范围，剔除此影响的可比口径下，公 司实现营业收入同比增长预计约 1%-5%左右（未经审计）。其中国际品牌 self-portrait、Laurèl 以及 IRO 在 ...