Financial Performance - The company reported an unaudited consolidated profit attributable to owners of approximately $278.7 million for the nine months ended September 30, 2025[2]. - Revenue for the nine months was $6,017.4 million, a slight decrease of 1.0% compared to $6,075.3 million in the same period last year[8]. - Gross profit for the period was $1,371.4 million, down from $1,472.3 million year-on-year[3]. - The pre-tax profit for the period was $357.1 million, compared to $438.5 million in the previous year[3]. - Total comprehensive income for the period was $323.2 million, down from $381.9 million year-on-year[4]. - Revenue from BaoSheng decreased by 7.9% year-on-year to $1,785.7 million, with a decline of 7.7% in RMB terms to RMB 12,902.8 million[9]. - Net profit attributable to the company's owners was $278.7 million, a decrease of 16.0% from $331.7 million in the previous year[15]. Revenue and Cost Analysis - Gross profit fell by 6.9% to $1,371.4 million, with a gross margin decline of 1.4 percentage points to 22.8%[11]. - The average discount rate increased, leading to a gross margin drop of 0.5 percentage points to 33.5% for BaoSheng[12]. - Selling and distribution expenses decreased by 7.2% to $579.4 million, accounting for approximately 9.6% of total revenue[13]. Manufacturing and Workforce - The company's manufacturing business revenue, including footwear, soles, accessories, and others, was $4,231.7 million, an increase of 2.3% year-on-year[8]. - The company experienced a 4.4% year-on-year increase in manufacturing workforce, contributing to higher labor costs due to wage increases[6]. Market Conditions and Challenges - The retail subsidiary, Pou Chen, faced challenges with low consumer confidence and high industry inventory, impacting foot traffic and sales[7]. - The company maintained a strong order mix, which helped to offset the negative impact of declining shipment volumes on footwear revenue[6]. Future Outlook and Strategies - The company expects a boost in shipment volume in Q4, traditionally a peak season, despite challenges from tariffs and macroeconomic uncertainties[17]. - The company plans to diversify its manufacturing capacity in Indonesia and India to support sustainable growth[17]. - The company aims to enhance operational resilience and maintain healthy cash flow through rigorous cost control and digital transformation strategies[18]. - The long-term outlook for the sports industry remains optimistic, driven by upcoming international sports events[17].
裕元集团(00551) - 2025 Q3 - 季度业绩