Core Viewpoint - Guosheng Securities reports that 361 Degrees (01361) is one of the leading companies in the sports footwear and apparel sector, showing excellent performance growth, with projected net profits of 1.261 billion, 1.420 billion, and 1.588 billion yuan for 2025-2027, respectively, maintaining a "Buy" rating with a 2025 PE of 10 times [1] Group 1 - The company disclosed its Q3 2025 operational performance, indicating strong growth across all channels, with adult apparel offline channel revenue increasing by approximately 10%, children's apparel offline revenue also up by around 10%, and e-commerce revenue growing by 20% year-on-year [1] - The operational status remains stable, with the offline channel inventory-to-sales ratio expected to be between 4.5 and 5, consistent with the end of Q2 2025 [1] - For 2025, the company is projected to achieve an 11.4% revenue growth and a 9.8% increase in net profit attributable to shareholders, driven by improved product strength and channel operational efficiency [1]
国盛证券：361度(01361)25Q3流水增速优异 维持“买入”评级