Core Viewpoint - Southbound funds have reduced their holdings in Baoshan International (03813.HK) by 20,000 shares on February 27, with a total net reduction of 299,000 shares over the past five trading days and 1,580,000 shares over the past 20 trading days [1] Company Overview - Baoshan International Holdings Limited primarily engages in the distribution and retail of sports apparel and footwear products [1] - The company operates through two segments: the sales of sports apparel and footwear, which involves wholesale sales and retail through its own stores, department store counters, and online retail; and the commission from franchise counters, which provides retail space to retailers and distributors for franchise counter sales [1]

Group 1 - The company expects a significant decline in profit attributable to shareholders, projecting a decrease of approximately 57.1% for the fiscal year ending December 31, 2025, primarily due to low consumer confidence in mainland China and high inventory levels leading to severe price competition [1] - The anticipated revenue for the fiscal year is approximately RMB 17.132 billion, representing a decrease of about 7.2% compared to the fiscal year 2024 [1] - The company reported a net operating income of RMB 1.748 billion for January, reflecting a year-on-year decline of 32.5% [2] Group 2 - The decline in sales scale and discount pressure has led to operational leverage issues, significantly impacting the company's profitability [1] - The company's preliminary assessment is based on unaudited consolidated management accounts and available information from the board [1]

Core Viewpoint - The company expects a decline in revenue and profit for the fiscal year ending December 31, 2025, primarily due to operational de-leveraging and a challenging market environment in mainland China [1] Group 1: Financial Performance - The company anticipates revenue of approximately RMB 17.132 billion and a profit attributable to shareholders of about RMB 211 million for the fiscal year 2025, representing a decrease of approximately 7.2% and 57.1% compared to the fiscal year 2024, respectively [1] - The decline in profit is mainly attributed to operational de-leveraging, exacerbated by low consumer confidence and high inventory levels in the mainland market [1] Group 2: Market Conditions - The retail environment is characterized by severe price competition due to high inventory levels and weak consumer traffic, leading to a median same-store sales decline of 10% to 20% [1] - The performance of franchise channels has been significantly impacted by weak traffic in lower-tier cities [1] Group 3: Strategic Initiatives - The company is focusing on enhancing its omnichannel capabilities and has adopted a highly agile decision-making model to strengthen its online presence, which has shown steady sales momentum, partially offsetting the weak performance of retail stores [1] - Despite ongoing efforts to manage inventory prudently, optimize inventory age structure, strengthen digital capabilities, and control expenses, the pressure from discounts and declining sales volume has significantly affected profitability [1] Group 4: Future Outlook - Given the uncertain economic environment, the company is implementing a rigorous channel planning and inventory management strategy to maintain a robust financial position [2] - The company conducted several share buyback transactions in January 2026, reflecting confidence in its long-term development prospects and intrinsic value amid a volatile market [2]

Core Viewpoint - The company expects a decline in revenue and profit for the fiscal year ending December 31, 2025, primarily due to operational de-leveraging and a challenging market environment in mainland China [1] Group 1: Financial Performance - The company anticipates revenue of approximately RMB 17.132 billion and a profit attributable to shareholders of about RMB 211 million for the fiscal year 2025, representing a decrease of approximately 7.2% and 57.1% compared to the fiscal year 2024, respectively [1] - The decline in profit is mainly attributed to operational de-leveraging, exacerbated by low consumer confidence and high inventory levels in the mainland China market [1] Group 2: Market Conditions - The retail environment is characterized by severe price competition due to high inventory levels and weak consumer traffic, leading to a median same-store sales decline of 10% to 20% [1] - The performance of the franchise channel has been significantly impacted by weak traffic in lower-tier cities [1] Group 3: Strategic Initiatives - The company is focused on enhancing its omnichannel capabilities in a highly competitive e-commerce environment, employing a flexible decision-making model to strengthen its online presence [1] - Despite challenges, the company has maintained a steady online sales momentum, partially offsetting the negative impact of weak retail store traffic [1] - The company continues to manage inventory cautiously, optimize inventory age structure, strengthen digital capabilities, and implement rigorous cost control measures [1] Group 4: Future Outlook - Given the ongoing economic uncertainty, the company is advancing a rigorous channel planning and inventory management strategy to maintain a robust financial position [2] - The company has conducted share buyback transactions in January 2026, reflecting confidence in its long-term development prospects and intrinsic value amid a volatile market environment [2]

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。 POU SHENG INTERNATIONAL (HOLDINGS) LIMITED 寶勝國際（ 控 股 ）有 限公司 （於百慕達註冊成立之有限公司） （股份代號：3813） 盈利警告 本公告乃根據上市規則第13.09條以及證券及期貨條例第XIVA部之內幕消息條 文而作出。 本集團預期本年度本公司擁有人應佔溢利將較二零二四年財政年度錄得約 57.1%的跌幅，主因中國大陸市場消費信心低迷而行業庫存水平偏高，以致折價 競爭嚴峻，進而影響本集團的營收表現。折扣壓力及銷售規模下降導致經營反 槓桿，顯著影響本集團的獲利表現。 股東及潛在投資者於買賣本公司股份時務請審慎行事。 本公告乃由寶勝國際（控股）有限公司（「本公司」及其子公司統稱「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條以及香港法例第 571章證券及期貨條例（「證券及期貨條例」）第XIVA部之內幕消息條文（定義見上 市 ...

Group 1 - The core point of the article is that Baoshan International (03813) reported a significant decline in its net operating revenue for January 2026, amounting to 1.748 billion yuan, which represents a 32.5% decrease compared to the same month in the previous year [1][1][1] - The cumulative net operating revenue for the month ending January 31, 2026, is also reported as 1.748 billion yuan, down from 2.589 billion yuan in January 2025, indicating a consistent downward trend in revenue [1][1][1]

Core Viewpoint - Baoshan International (03813) reported a significant decline in its net operating revenue for January 2026, indicating potential challenges in its business performance [1] Group 1: Financial Performance - The company's net operating revenue for January 2026 was 1.748 billion yuan, down from 2.589 billion yuan in January 2025, representing a decrease of 32.5% year-over-year [1][1][1] - The cumulative net operating revenue for the month ending January 31, 2026, was also 1.748 billion yuan, reflecting the same year-over-year decline of 32.5% compared to the previous year [1][1][1]

Group 1 - The core point of the article is that Baoshan International (03813.HK) reported a significant decline in its net operating revenue for January 2026, amounting to approximately RMB 1.748 billion, which represents a 32.5% decrease compared to the same month last year [1] Group 2 - The company's net operating revenue is calculated as total sales minus sales discounts and sales returns [1] - The reported revenue figure indicates a substantial drop, highlighting potential challenges the company may face in maintaining sales performance [1] - The year-on-year comparison emphasizes the severity of the decline, suggesting a need for strategic reassessment [1]

寶勝國際（ 控 股 ）有 限公司 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。 POU SHENG INTERNATIONAL (HOLDINGS) LIMITED （於百慕達註冊成立之有限公司） （股份代號：3813） 二零二六年一月之每月收益公告 本公司為聯交所主板上市公司裕元的子公司。按照國際財務報告準則，裕元被 視為臺灣證交所上市公司寶成工業之子公司。寶成工業根據臺灣證券交易所的 規例規定刊發每月收益公告。 由於裕元於今日公佈其若干綜合財務資料，故本公司根據上市規則第13.09(2)條 及證券及期貨條例第XIVA部刊發本公告，確保及時向投資者提供最新資料。 寶勝國際（控股）有限公司（「本公司」）為香港聯合交易所有限公司（「聯交所」）主 板上市公司裕元工業（集團）有限公司（「裕元」）的子公司。按照國際財務報告準則， 裕元被視為臺灣證券交易所股份有限公司（「臺灣證交所」）上市公司寶成工業股份 有限公司（「寶成工業」）之子公司。根據臺灣證券交易所 ...

Group 1 - Southbound funds reduced their holdings in Baoshan International (03813.HK) by 14,000 shares on February 6 [1] - Over the past 5 trading days, southbound funds have reduced their holdings for 5 days, with a total net reduction of 575,000 shares [1] - In the last 20 trading days, southbound funds have reduced their holdings for all 20 days, with a total net reduction of 1.811 million shares [1] Group 2 - As of now, southbound funds hold 15.853 million shares of Baoshan International, accounting for 0.29% of the company's issued ordinary shares [1] - Baoshan International Holdings Limited primarily engages in the distribution and retail of sports apparel and footwear products [1] - The company operates through two segments: the sales of sports apparel and footwear segment, which involves wholesale sales, and the franchise counter sales commission segment, which provides mall space to retailers and distributors for franchise counter sales [1]