Core Viewpoint - Xtep International (01368.HK) announced the granting of 50 million share awards to over 100 selected participants under the 2025 Share Award Scheme, which represents approximately 1.80% of the total issued shares as of the announcement date [1] Group 1 - The share awards are subject to acceptance by the grantees before becoming effective [1]

Group 1 - The company, Xtep International (01368), announced that on September 5, 2025, it will grant awards involving 50 million shares to over 100 selected participants under the 2025 Share Award Scheme [1] - The awarded shares represent approximately 1.80% of the total issued shares as of the announcement date [1]

Group 1 - The company, Xtep International (01368), announced a share award plan set for September 5, 2025, involving the grant of 50 million shares to over 100 selected participants [1] - The awarded shares represent approximately 1.80% of the total issued shares as of the announcement date [1]

香 港 交易 及 結 算 所 有限 公 司 以 及香 港 聯 合 交 易所 有 限 公 司 對本 公 佈 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 公佈 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。 Xtep International Holdings Limited 特 步 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：1368） 根據二零二五年股份獎勵計劃授出獎勵 於 二 零 二 五 年 九 月 五 日 ， 本 公 司 根 據 二 零 二 五 年 股 份 獎 勵 計 劃 的 條 款 向 超過100名選定參與者授出的獎勵涉及50,000,000股獎勵股份（ 須待承授人 接納後方可作實 ），佔於本公佈日期已發行股份總數約1.80 %。 授出獎勵 於 二 零二 五 年 九 月 五日 ， 本 公 司根 據 二 零 二 五年 股 份 獎 勵 計劃 的 條 款 向超 過100名選定參與者授出的獎勵涉及50,000,000股 ...

Summary of Xtep International Conference Call Company Overview - **Company**: Xtep International - **Industry**: Sportswear and Footwear Key Points Sales Performance - Xtep International's recent sales performance has outpaced competitors, driven by new product launches such as the 160×7 and X7 Pro, with the champion series carbon plate running shoes expected to sell 8 million pairs, achieving a 50% market share in marathons, significantly surpassing Nike [2][6][4] Product Strategy - The company covers a wide range of consumer segments through different price tiers, with high-end products priced between 160, 260, and 360 series, and mass-market offerings like the Qingyun series priced from 299 to 799 yuan, catering to various consumer needs [2][7] - The children's apparel segment is growing faster than adult products, focusing on functional products for ages 8 to 12, developed in collaboration with universities to enhance product competitiveness and parental trust [2][8] Financial Metrics - Despite a decline in gross margin in the first half of 2025 due to an increased proportion of lower-margin apparel products, the company anticipates a gradual recovery in gross margin as scale effects and brand strength improve [2][9] Inventory and Sales Growth - Inventory turnover remains stable at approximately 4 to 4.5 months, with discounts maintained between 70% to 75% [3] - Same-store sales growth exceeded 25% in the first half of 2025, with e-commerce single-store sales surpassing 400,000 yuan [5][11] E-commerce and Marketing - E-commerce sales are projected to continue double-digit growth, with a focus on major platforms and live-streaming channels to enhance brand exposure [21] - The company plans to increase marketing investments in the Saucony brand while ensuring stable growth for the main brand [12][14] International Expansion - Xtep's overseas market share has rapidly increased to about 1%, with strategic focus on Southeast Asia, the Middle East, and the broader Russian region, utilizing a distributor model for market penetration [19][20] Future Outlook - For 2025, the main brand is expected to maintain stable growth, while Saucony is projected to achieve a 30% to 40% increase in sales, with plans to expand product categories and reach a scale of at least 2 billion yuan by 2027 [22][23] Differentiation Strategy - Xtep differentiates itself from competitors by focusing on professional running shoes and sponsoring major running events, positioning itself as a leader in marathon participation rates [15] Direct-to-Consumer (DTC) Strategy - The company plans to transition 100 to 200 stores to a DTC model in 2025, with an aim to enhance operational efficiency and control over sales channels [16][17] Children's Footwear Strategy - Xtep is implementing a comprehensive service system for children's footwear, including testing and recommending suitable products, which has led to increased gross margins in this segment [9] Additional Insights - The company is leveraging collaborations with educational institutions to develop products that meet children's developmental needs, enhancing brand trust among parents [8]

Group 1 - FIL Limited increased its stake in Xtep International by acquiring 1.1135 million shares on August 29 [1] - The purchase price per share was 6.6323 HKD, totaling approximately 7.3851 million HKD [1] - Following this transaction, FIL Limited's total shareholding in Xtep International reached approximately 167 million shares, representing a 6.01% ownership stake [1] Group 2 - The related parties involved in this transaction include Pandanus Associates Inc. and Pandanus Partners L.P. [1]

Group 1 - FIL Limited increased its stake in Xtep International (01368.HK) by acquiring 1,113,500 shares at an average price of HKD 6.6323 per share, totaling approximately HKD 7.3851 million [1] - Following the acquisition, FIL Limited's total shareholding rose to 167,120,355 shares, increasing its ownership percentage from 5.97% to 6.01% [1]

香港联交所最新资料显示，8月29日，FlL Limited增持特步国际(01368)111.35万股，每股作价6.6323港 元，总金额约为738.51万港元。增持后最新持股数目约为1.67亿股，最新持股比例为6.01%。 本次交易涉及其他关联方：Pandanus Associates inc.、Pandanus Partners L.P.。 ...

Group 1 - FII Limited increased its stake in Xtep International (01368) by 1.1135 million shares at a price of HKD 6.6323 per share, totaling approximately HKD 7.3851 million [1] - After the transaction, FII Limited's total shareholding in Xtep International is approximately 167 million shares, representing a stake of 6.01% [1] - The transaction involved other related parties: Pandanus Associates Inc. and Pandanus Partners L.P. [1]

Summary of Xtep International Conference Call Company Overview - **Company**: Xtep International - **Key Brand**: Saucony Industry Insights - **Running Shoe Market**: Anticipated growth driven by marathon events in the second half of the year, with Saucony emerging as a leading brand in this segment [2][4] - **Sales Performance**: Saucony's sales in July and August showed improvement over June, indicating a positive market recovery [4][11] Key Financial Metrics - **Sales Growth**: Xtep's main brand revenue grew by 4.5% in the first half of the year, primarily driven by volume increases rather than price adjustments [8] - **Sales Volume**: Expected total sales for the year are projected to reach 60 million pairs, with the Champion series expected to sell 8 million pairs, doubling from last year [2][6] - **Inventory Turnover**: Maintained at a healthy level of 4 to 4.5 months, with discounts stable at 30% to 32% [2][5] Product Strategy - **Product Range**: The product matrix includes high-end carbon plate shoes, mid-range options, and a mass-market series priced between 200 to 500 RMB [6][9] - **High-End Segment**: High-end running shoes are expected to account for over 10% of total sales, reflecting a growing demand for premium products [7] - **DTC Model**: All stores are now direct-to-consumer (DTC), enhancing operational efficiency and responsiveness to market changes [15][12] Marketing and Sponsorship - **Marketing Investment**: Xtep allocates 11% to 13% of revenue for marketing, with a significant portion directed towards marathon sponsorships [10] - **Brand Positioning**: Focus on high cost-performance and functional products to meet diverse consumer needs, particularly in urban areas [9][10] Future Outlook - **Revenue Projections**: Saucony's revenue is expected to grow by 30% to 40% this year, with a target of reaching 2 billion RMB in three years [4][22] - **Store Expansion**: Plans to open 30 to 50 new stores, with a focus on core urban areas, aiming for improved store efficiency [3][11] - **Product Development**: Continued emphasis on high-quality, functional products to cater to both casual and serious runners [9][20] Supply Chain and Production - **Supply Chain**: Saucony's international products are produced in Cambodia and Vietnam, while domestic products are entirely manufactured in China [16] - **SKU Expansion**: Increasing the number of SKUs in stores to enhance product variety and meet consumer demand [11] Additional Insights - **Children's Apparel**: Stable performance in children's clothing with no significant expansion plans, maintaining a good sales level [19] - **Future Acquisitions**: No current plans for acquiring additional running brands, focusing instead on maximizing the potential of existing brands [21] Conclusion Xtep International is positioned for growth in the running shoe market, leveraging its strong brand presence, effective marketing strategies, and a focus on product quality and consumer needs. The company anticipates significant revenue growth and improved profitability in the coming years.