Core Viewpoint - The company anticipates a decline in revenue and profit for the upcoming six months, attributing this to a challenging consumer environment and increased competition [1] Financial Performance - Expected revenue for the six months ending June 30, 2025, is approximately RMB 9.159 billion, representing a year-on-year decrease of about 8.3% [1] - Profit attributable to the company's owners is projected to be around RMB 188 million, reflecting a year-on-year decline of approximately 44.1% [1] Market Conditions - The company is facing a rapidly changing consumer landscape, with weak consumer confidence in mainland China and high inventory levels leading to reduced foot traffic [1] - Intense price competition is further exacerbating the situation, contributing to a slowdown in sales momentum across the retail network [1] Sales Performance - Same-store sales are expected to decline by 10% to 20% in the mid-range [1] - Lower-tier cities are also experiencing weak foot traffic, significantly impacting the performance of the company's franchise channels [1] Cost Management - Despite ongoing stringent cost control measures, the decline in sales scale is leading to operational leverage issues [1] - Increased discounting in a promotional environment is adversely affecting the company's profitability [1]
宝胜国际：预计上半年净利润同比下降44.1%