集团董事局主席兼CEO丁水波表示："特步业绩持续增长，得益于跑步主品牌的坚实基础，以及索 康尼、迈乐等多品牌协同带来的增长动力。我们将继续保持对股东长期稳定回报的承诺，同时在跑步这 一战略核心领域加大投入，巩固市场领先地位。" 8月18日，特步国际控股有限公司（股份代号︰1368.HK）公布截至2025年6月30日止六个月之未经 审核中期业绩。2025年上半年集团持续经营业务收入同比增长7.1%至68.38亿元，创历史新高。 展望未来，随着政府对体育产业的持续支持和全民健身氛围的不断提升，集团预期体育用品需求将 保持增长势头。通过进一步优化供应链、强化零售管理及电商布局，特步有信心延续稳健增长轨迹，在 保持高质量盈利的同时，为股东持续创造更大价值。 根据中报，该集团于2025年上半年取得稳健业绩，期内毛利率维持在45.0%的健康水平。集团持续 经营业务的经营溢利增长9.1%至人民币13.05亿元。 编辑：侯隽 除了净利润的稳健增长，集团现金流同样保持充裕。期内经营现金流入达7.74亿元，确保了企业在 投资研发、拓展渠道和强化品牌的同时，仍能保持健康的财务结构。董事会宣派中期股息每股18.0港 仙，同比增长15 ...

Core Insights - Xtep International reported a revenue of 6.84 billion yuan for the first half of 2025, representing a year-on-year growth of 7% [1] - The net profit for the same period was 914 million yuan, showing an increase of 21.5% [1] - The main brand revenue reached 6.053 billion yuan, with a growth of 4.5%, while the professional sports segment saw a significant increase of 32.5% to 1.85 billion yuan [1] Company Strategy - The company focuses on a running-centric strategy, reinforcing its position as a leading running brand in China [1] - Xtep's performance in major marathon events in China highlights its market leadership and the effectiveness of its "professional influences the masses" strategy [1] - The brand successfully penetrated the mass market, contributing to the strong development of its main brand and the subsidiary brand Saucony [1] Partnerships and Events - In the first half of 2025, Xtep International established partnerships with 27 marathon and road running events in China [1] - This includes collaborations with prestigious events such as the World Athletics Platinum Label Xiamen Marathon and several Gold Label events [1]

Core Viewpoint - Xtep Group reported a 7.1% year-on-year increase in revenue for the six months ending June 30, 2025, driven by growth in its main brand and professional sports division [1] Group 1: Financial Performance - Revenue from continuing operations reached 6.838 billion yuan, with the main brand revenue increasing by 4.5% to 6.053 billion yuan [1] - The professional sports division saw a significant revenue increase of 32.5%, amounting to 785 million yuan [1] - Gross profit margin for continuing operations was 45.0%, with operating profit rising by 9.1% to 1.305 billion yuan [1] - Profit attributable to ordinary shareholders was 914 million yuan, reflecting a 21.5% year-on-year growth, with basic earnings per share at 34.6 cents [1] - The company maintained healthy cash flow, with operating cash inflow of 774 million yuan [1] - The board declared an interim dividend of 0.18 HKD per share, a 15.4% increase, maintaining a payout ratio of 50.0% for 17 consecutive years [1] Group 2: Brand and Market Performance - The main brand showed strong performance in key marathon events in Xiamen, Wuxi, and Lanzhou, with the "160X" series running shoes helping athletes achieve record-breaking performances [1] - As of July 31, 2025, the brand assisted 107 elite athletes in winning 507 championships [1] - Saucony's overall wearing rate led among international brands, generating over 1 billion yuan in revenue [1] - The professional sports division's operating profit reached 78.6 million yuan, a substantial increase of 236.8% [1] Group 3: E-commerce and Future Outlook - E-commerce accounted for over 30% of the main brand's revenue, achieving double-digit year-on-year growth [2] - Xtep Youth has 1,564 stores in mainland China and launched the "Xtep Growth Shoes" series in August [2] - The company collaborated with eight authoritative organizations to release the "China Youth Sports Growth Blue Book" [2] - Xtep received "AA" ratings from MSCI ESG and Wind ESG, and joined the "Zero Emission of Hazardous Chemicals Organization" [2] - The company plans to focus on the running sector and initiate a direct-to-consumer model, expanding Saucony flagship stores and product lines [2]

Economic Overview - In the first seven months of 2023, Beijing's total market consumption increased by 0.7% year-on-year [1] - The total retail sales of consumer goods reached 767.43 billion yuan, showing a decline of 4.2% [1] Sector Performance - Service consumption grew by 4.6%, driven by information services, transportation, and cultural entertainment sectors [1] - Retail sales in the household appliances and audio-visual equipment category increased by 6.9%, boosted by the "trade-in" policy, with a growth rate improvement of 2.3 percentage points compared to the first half of the year [1] - Jewelry, food, cosmetics, and sports entertainment products saw significant retail sales growth of 32.7%, 12.1%, 8.2%, and 6.1% respectively [1] - Retail sales of automotive products declined by 19.0% due to insufficient market demand for fuel vehicles [1] - Cultural office supplies and communication equipment retail sales decreased by 3.6% and 24.4% respectively, influenced by the diversification of sales channels among some headquarters enterprises [1] Consumption Breakdown - Among the total retail sales, goods retail accounted for 688.23 billion yuan, down by 4.3% [1] - Restaurant income reached 79.2 billion yuan, reflecting a decline of 3.6% [1]

Core Viewpoint - On August 18, 2023, Xtep International (01368) saw a stock price increase of 8.55%, reaching HKD 6.22 per share with a trading volume of HKD 2.05 billion [1] Company Overview - Xtep International Holdings Limited is a multi-brand sports goods company that specializes in the design, research and development, sales, and brand management of adult and children's sports shoes, apparel, and accessories [1] - The company operates a distribution network with over 8,100 stores and owns brands such as Xtep, Saucony, and Merrell, covering both mass and professional sports markets [1] Financial Performance - As of the 2024 annual report, Xtep International reported total revenue of HKD 13.577 billion and a net profit of HKD 1.238 billion [2] - On August 18, Xtep International disclosed its mid-year report for the fiscal year 2025 [2]

消息面上，特步国际午间发布2025年度中期业绩，该集团期内取得收入68.38亿元(人民币，单位下同)， 同比增加7.14%；普通股股权持有人应占溢利9.14亿元，同比增加21.47%；派中期息18港仙，可以股代 息，上年同期派15.6港仙。公告指出，收入增长主要受益于：大众运动：大众运动分部收入上升4.5%至 人民币61亿元。该增长主要归因于线上渠道表现良好，消费者参与度及销售显著增加。 智通财经APP获悉，特步国际(01368)午后涨超9%，截至发稿，涨9.42%，报6.27港元，成交额2.02亿港 元。 ...

Core Insights - The company reported a revenue of approximately 6.838 billion RMB for the six months ending June 30, 2025, representing a year-on-year increase of 7.1% [1] - Profit attributable to ordinary shareholders was approximately 914 million RMB, reflecting a year-on-year growth of 21.5% [1] - Basic earnings per share were 34.55 cents, with an interim dividend of 0.18 HKD per share, and a payout ratio of 50% [1] Revenue Breakdown - The main brand generated revenue of approximately 6.053 billion RMB, which is a year-on-year increase of 4.5% [1] - The professional sports segment saw revenue of 785 million RMB, marking a significant year-on-year increase of 32.5% [1] Financial Health - The balance sheet remains robust, with a strong cash position [1] - Cash and cash equivalents net amount increased by 94.3% to 1.913 billion RMB [1]

Group 1: Financial Performance - The company reported a revenue of 6.838 billion RMB for the first half of 2025, representing a year-on-year increase of 7.14% [1] - Profit attributable to ordinary shareholders reached 914 million RMB, an increase of 21.47% year-on-year [1] - Basic earnings per share were 0.3455 RMB [1] Group 2: Revenue Growth Drivers - The mass sports segment saw a revenue increase of 4.5% to 6.1 billion RMB, driven by strong online channel performance and increased consumer engagement [1] - The professional sports segment experienced significant growth of 32.5%, with revenue rising to 785 million RMB, supported by strong offline retail performance and continued growth in online channels [1] Group 3: Market Position and Brand Strategy - The company defined a new benchmark for running shoes in China, achieving leading wearing rates in major marathon events [2] - The brand maintained its position as the preferred choice for elite runners, achieving the highest wearing rate among runners finishing within three hours [2] - The company collaborated with brand ambassador Jeremy Lin to promote basketball culture in China, conducting impactful events in Shenyang [2]

Group 1 - The core viewpoint of the articles highlights the strong financial performance of Xtep International, with a revenue increase of 7.14% to RMB 6.838 billion and a profit attributable to ordinary shareholders rising by 21.47% to RMB 914 million in the first half of 2025 [1] - The growth in revenue is primarily driven by the performance of the mass sports segment, which saw a 4.5% increase in revenue to RMB 6.1 billion, attributed to strong online channel performance and increased consumer engagement [1] - The professional sports segment experienced significant growth of 32.5%, with revenue reaching RMB 785 million, driven by strong offline retail performance and continued growth in online channels [1] Group 2 - Xtep has established itself as a leading brand in the Chinese marathon scene, achieving the highest wearing rate among runners in key marathon events, reinforcing its strategy of "professional influencing the masses" [2] - The brand's commitment to promoting sports excellence is evident through its collaboration with brand ambassador Jeremy Lin, who engaged in impactful activities to promote basketball culture in China [2] - Saucony also performed well, achieving the highest wearing rate among international brands in the same marathon events, indicating a competitive landscape in the sports footwear market [2]

Core Viewpoint - Xtep International (01368) announced that it will distribute an interim dividend of HKD 0.18 per share on October 30, 2025 [1] Company Summary - The company is set to pay an interim dividend of HKD 0.18 per share [1]