Core Viewpoint - Citic Securities reports that 361 Degrees (01361) has shown a positive performance in Q3 2025, with main brand offline sales, children's clothing offline sales, and e-commerce channel revenue increasing by 10%, 10%, and 20% year-on-year respectively, aligning with market expectations, indicating the company's strong product cost-performance benefiting from the current consumption environment [1] Group 1 - The company is expected to maintain double-digit revenue growth momentum in 2025, which will gradually improve operating cash flow [1] - Long-term prospects include potential growth from the outdoor brand One Way and exploration of overseas offline wholesale and cross-border e-commerce businesses, which may provide new incremental revenue [1] - The company is likely to drive valuation re-rating through continuous performance delivery and increased dividends [1]