Ge Long Hui·2026-03-18 07:22Group 1 - The company is expected to achieve steady revenue growth for FY2026, continuing its high-quality operational trend despite unfavorable external conditions [1] - The brand down jacket business is projected to show resilient growth, with revenue expected to increase in the mid-single digits, driven by the main brand Bosideng and faster growth from the Snow Flying brand [1] - The internationalization and premiumization efforts are highlighted by the launch of the AREAL series, designed by British designer Kim Jones, at the Galeries Lafayette in Paris, marking a significant milestone for Bosideng [1] Group 2 - The OEM processing business is under pressure due to tariffs and client operational challenges, with revenue for FY2026H1 declining by 11.7% to 2.044 billion yuan, and a high single-digit decline expected for the full fiscal year [1] - The women's wear and school uniform segments are anticipated to experience double-digit declines, with revenues for FY2026H1 down 18.6% and 45.3% respectively, reflecting a similar trend to the industry [1] - The company is optimizing its channel structure and improving store operations, expecting positive same-store growth for self-operated stores in FY2026 [1]