TOPSPORTS(HK:06110) 智通财经网·2025-10-24 03:58Core Viewpoint - Tmall's stock price dropped over 5% following the announcement of its interim results, indicating ongoing challenges in sales and profitability [1] Financial Performance - For the six months ending August 31, 2025, the company reported revenue of approximately 12.2986 billion, a year-on-year decrease of 5.79% [1] - The profit attributable to equity holders was about 789 million, down 9.69% year-on-year [1] - Earnings per share were reported at 12.72 cents, with an interim dividend of 13 cents compared to 14 cents in the same period last year [1] Sales and Market Trends - In the second quarter of the fiscal year 2025/26, the total sales amount for the group's retail and wholesale business experienced a high single-digit decline year-on-year [1] - The company is expected to face continued sales pressure in the first half of fiscal year 2026, although cost control measures have shown positive effects [1] Profitability and Cost Management - The gross profit margin slightly decreased by 0.1 percentage points to 41.0%, impacted by changes in discounts and an increase in online revenue share [1] - The contribution from retail business and support from brand partners partially offset negative impacts on profitability [1] Future Outlook - The company is anticipated to show clearer signs of recovery in the second half of the fiscal year [1] - The interim payout ratio was 102%, with an expected dividend yield close to 7%, which may provide downside protection for the stock price [1]