首席财务官范永奎重申"百亿零售"目标不变，强调不依赖并购冲规模，更注重增长质量与可持续性，并 预计全年将超额完成净利润目标，维持高水平派息政策。 用户运营与渠道升级同步推进。公司已打造22家"江南布衣+"多品牌集合店，依托数智渠道打通线上线 下（300959）消费场景；精细化会员运营成效显著，2025年会员贡献零售额占比超80%，活跃会员达59 万个，其中高价值会员34万人，贡献线下零售额超六成。此外，公司推出"jnby+童装想象力集合店"， 探索亲子生活方式体验场景，践行"不止于衣"的品牌理念。 ESG领域，江南布衣首次披露"3050碳中和目标"，计划2050年实现自身运营碳中和，以2025年为基准， 2030年、2035年分别实现碳排放降低20%、40%。目前公司已完成范围一和范围二碳盘查，将碳排放管 理纳入ESG管治架构。 据江南布衣2026财年中期业绩(统计区间为2025年7月1日至12月31日)显示，本财年上半年，江南布衣总 收入同比增长7.0%至33.759亿元，核心得益于线上渠道发力与线下门店扩张。其中，线上渠道收入同比 大增25.1%至7.533亿元，成为营收增长的核心引擎；截至2025年12 ...

Investment Rating - The investment rating for the company is "Buy" [1] Core Insights - The company reported a revenue of 3.376 billion yuan, a net profit of 676 million yuan, and operating cash flow of 996 million yuan for FY2026H1, representing year-on-year growth of 7.0%, 11.9%, and 21.1% respectively. After excluding government subsidies, the net profit was 626 million yuan, reflecting a 15.5% increase year-on-year [2] - The company declared an interim dividend of 0.52 HKD per share, resulting in a dividend yield of 5.18% [2] - The company's brands showed varied performance, with JNBY, LESS, and emerging brands experiencing revenue growth of 5.7%, 16.3%, and 22.4% respectively, while the men's brand Su Xie continued to struggle [3] - The gross margin for FY2026H1 was 66.5%, an increase of 1.4 percentage points year-on-year, while the net profit margin rose to 20.0%, up 0.9 percentage points [4] - Inventory at the end of FY2026H1 was 1.02 billion yuan, a 9.4% increase year-on-year, with accounts receivable remaining stable at 220 million yuan [5] Financial Projections - Revenue forecasts for FY26-28 are 6.004 billion, 6.396 billion, and 6.806 billion yuan, with year-on-year growth rates of 8.21%, 6.53%, and 6.41% respectively. Net profit projections are 971 million, 1.040 billion, and 1.115 billion yuan, with growth rates of 8.72%, 7.08%, and 7.24% [6][8] - The estimated earnings per share (EPS) for FY26-28 are 1.86, 1.92, and 2.09 yuan, with corresponding price-to-earnings (PE) ratios of 9.4, 9.1, and 8.3 [6][8]

Investment Rating - The investment rating for Jiangnan Buyi (3306.HK) is "Buy" [1] Core Insights - The company reported a revenue of 3.376 billion yuan and a net profit of 676 million yuan for FY2026H1, representing a year-on-year growth of 7.0% and 11.9% respectively. After excluding government subsidies, the net profit increased by 15.5% to 626 million yuan [2] - The company declared an interim dividend of 0.52 HKD per share, resulting in a dividend yield of 5.18% [2] - The company's brands showed varied performance, with JNBY, LESS, and emerging brands experiencing growth, while the men's brand "Suxie" continued to face challenges [3] - The gross profit margin improved to 66.5%, up 1.4 percentage points year-on-year, while the net profit margin increased to 20.0%, up 0.9 percentage points [4] - Inventory at the end of FY2026H1 was 1.02 billion yuan, a 9.4% increase year-on-year, indicating growth in finished goods and raw materials [5] Financial Projections - Revenue forecasts for FY2026-2028 are 6.004 billion, 6.396 billion, and 6.806 billion yuan, with year-on-year growth rates of 8.21%, 6.53%, and 6.41% respectively. Net profit forecasts for the same period are 971 million, 1.040 billion, and 1.115 billion yuan, with growth rates of 8.72%, 7.08%, and 7.24% [6][8] - The estimated earnings per share (EPS) for FY2026-2028 are 1.86, 1.92, and 2.09 yuan, with corresponding price-to-earnings (PE) ratios of 9.4, 9.1, and 8.3 [6][8]

消息面上，江南布衣公布截至12月底中期业绩，总收入为约33.76亿元，同比上升7%；纯利为6.76亿 元，同比上升11.9%；每股基本收益1.32元，中期股息每股0.52港元。公告称，收入的增长主要由于线 上渠道销售的增长及线下门店规模的扩张所致。 江南布衣(03306)绩后涨超6%，截至发稿，涨2.89%，报20.66港元，成交额528.27万港元。 ...

智通财经APP获悉，江南布衣(03306)绩后涨超6%，截至发稿，涨2.89%，报20.66港元，成交额528.27万 港元。 消息面上，江南布衣公布截至12月底中期业绩，总收入为约33.76亿元，同比上升7%；纯利为6.76亿 元，同比上升11.9%；每股基本收益1.32元，中期股息每股0.52港元。公告称，收入的增长主要由于线 上渠道销售的增长及线下门店规模的扩张所致。 ...

智通财经APP讯，江南布衣(03306)发布公告，将于2026年4月15日派发截至2025年12月31日止六个月的 中期股息每股0.52港元。 ...

EF001 | 其他信息 | | | --- | --- | | 其他信息 | 不適用 | | 發行人董事 | | | | 於本公告日期，本公司執行董事為吳健先生、李琳女士及吳華婷女士；本公司非執行董事為衛哲先生；以及本公司獨立非執行董事 | | | 為林曉波先生、韓敏女士、胡煥新先生及王舜德先生。 | 第 2 頁 共 2 頁 v 1.1.1 EF001 免責聲明 | 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。 | 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 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 江南布衣有限公司 | | 股份代號 | 03306 | | 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 | 截至二零二五年十二月三十一日止六個月的中期股息 | | 公告日期 | 2026年2月26日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 ...

智通财经APP讯，江南布衣(03306)公布截至2025年12月31日止6个月的中期业绩，总收入为约33.76亿 元，同比上升7%;纯利为6.76亿元，同比上升11.9%;每股基本收益1.32元，中期股息每股0.52港元。 公告称，收入的增长主要由于线上渠道销售的增长及线下门店规模的扩张所致。 ...

江南布衣(03306)公布截至2025年12月31日止6个月的中期业绩，总收入为约33.76亿元，同比上升7%;纯 利为6.76亿元，同比上升11.9%;每股基本收益1.32元，中期股息每股0.52港元。 公告称，收入的增长主要由于线上渠道销售的增长及线下门店规模的扩张所致。 ...

格隆汇2月26日丨江南布衣(03306.HK)公布2025年12月31日止六个月之中期业绩。截至2025年12月31日 止六个月(「2026上半财年」)，集团的总收入为人民币3,375.9百万元，较截至2024年12月31日止六个月 (「2025上半财年」)的人民币3,156.4百万元上升7.0%或人民币219.5百万元。2026上半财年的纯利为人民 币6.76亿元，较2025上半财年的人民币6.04亿元上升11.9%或人民币7200万元。 ...