特步集团2025年上半年收入同比增长7.1%，净利润同比增长20%

Core Viewpoint - Xtep Group reported a 7.1% year-on-year increase in revenue for the six months ending June 30, 2025, driven by growth in its main brand and professional sports division [1] Group 1: Financial Performance - Revenue from continuing operations reached 6.838 billion yuan, with the main brand revenue increasing by 4.5% to 6.053 billion yuan [1] - The professional sports division saw a significant revenue increase of 32.5%, amounting to 785 million yuan [1] - Gross profit margin for continuing operations was 45.0%, with operating profit rising by 9.1% to 1.305 billion yuan [1] - Profit attributable to ordinary shareholders was 914 million yuan, reflecting a 21.5% year-on-year growth, with basic earnings per share at 34.6 cents [1] - The company maintained healthy cash flow, with operating cash inflow of 774 million yuan [1] - The board declared an interim dividend of 0.18 HKD per share, a 15.4% increase, maintaining a payout ratio of 50.0% for 17 consecutive years [1] Group 2: Brand and Market Performance - The main brand showed strong performance in key marathon events in Xiamen, Wuxi, and Lanzhou, with the "160X" series running shoes helping athletes achieve record-breaking performances [1] - As of July 31, 2025, the brand assisted 107 elite athletes in winning 507 championships [1] - Saucony's overall wearing rate led among international brands, generating over 1 billion yuan in revenue [1] - The professional sports division's operating profit reached 78.6 million yuan, a substantial increase of 236.8% [1] Group 3: E-commerce and Future Outlook - E-commerce accounted for over 30% of the main brand's revenue, achieving double-digit year-on-year growth [2] - Xtep Youth has 1,564 stores in mainland China and launched the "Xtep Growth Shoes" series in August [2] - The company collaborated with eight authoritative organizations to release the "China Youth Sports Growth Blue Book" [2] - Xtep received "AA" ratings from MSCI ESG and Wind ESG, and joined the "Zero Emission of Hazardous Chemicals Organization" [2] - The company plans to focus on the running sector and initiate a direct-to-consumer model, expanding Saucony flagship stores and product lines [2]