部分服装企业半年报现反差：主营承压，投资 “逆袭”

Core Viewpoint - The traditional apparel industry in A-shares continues to face pressure, with many companies reporting declines in revenue and net profit, indicating a deep adjustment period for the sector [1][3]. Revenue and Profit Performance - Semir Garment achieved a revenue of 6.149 billion yuan, up 3.26%, but its net profit fell by 41.17% to 325 million yuan [2]. - Taiping Bird reported a revenue of 2.898 billion yuan, down 7.86%, with a net profit decline of 54.61% to 78 million yuan [2]. - Dizhu Fashion's revenue was 1.067 billion yuan, down 5.55%, and net profit decreased by 23.54% to 170 million yuan [2]. - Nine Mu Wang's revenue was 1.497 billion yuan, down 5.02%, but net profit surged by 248.54% to 174 million yuan [2]. - Overall, the children's clothing segment showed relative stability, while men's and women's fashion segments faced significant challenges [4][5]. Market Trends and Strategic Shifts - Many companies are shifting from a franchise model to direct-to-consumer (DTC) strategies, opening flagship stores in key urban areas while reducing franchise outlets [6][7]. - Taiping Bird is implementing a "superstore" strategy, opening large flagship stores to integrate multiple brands [7]. - Semir Garment's direct sales revenue grew by 34.78%, while franchise revenue declined by 2.8% [7]. Investment Strategies - Companies are increasingly focusing on investment as a means to bolster profits amid declining core business performance [8][9]. - Longzi Co. reported a 64% increase in net profit, largely due to stock market gains from selling shares of Ruoyuchen [8]. - Nine Mu Wang's net profit growth was attributed to significant increases in the fair value of financial assets [8]. - Baoxini's financial assets surged by 2072.73%, indicating a shift towards financial investments to offset core business weaknesses [9].