Investment Rating - The report maintains a cautious outlook on Yue Yuen Industrial Holdings, reflecting the challenges faced in the retail segment while acknowledging steady growth in manufacturing [2][10]. Core Insights - Yue Yuen's manufacturing business showed resilience with a revenue increase of 6.2% year-on-year, reaching USD 2.798 billion, while retail revenue fell by 8.6% to USD 1.262 billion [2][10]. - The company is focusing on prudent inventory and discount management to balance profitability and channel health, with inventory turnover days at 146 days [4][12]. - The management has emphasized a refined retail strategy and diversification of channels, particularly enhancing online sales which grew by 16% year-on-year [3][11]. Summary by Sections Financial Performance - In 1H2025, total revenue was USD 4.06 billion, a 1.1% increase year-on-year, with manufacturing revenue at USD 2.798 billion and retail revenue at USD 1.262 billion [2][10]. - The average selling price for footwear increased by 3.2% to USD 20.61 per pair, benefiting from a premium order mix [2][10]. Retail Strategy - Pou Sheng International's omni-channel revenue grew significantly, driven by online sales, which doubled due to live-streaming initiatives [3][11]. - The company plans to maintain its offline store count between 3,300 and 3,500 while focusing on enhancing single-store efficiency [3][11]. Inventory and Cost Management - The management is implementing measures such as production cuts and clearance sales to control inventory levels, with nearly 9% of inventory being aged [4][12]. - The gross profit margin for manufacturing decreased to 17.7%, impacted by rising labor costs and uneven capacity utilization [2][10]. Capacity Expansion and Tariff Strategy - The company is optimizing its capacity layout and expanding production in Indonesia and India to mitigate tariff impacts, with a projected capital expenditure of around USD 300 million for factory construction [5][13].

Core Viewpoint - A new individual business named Dongguan Houjie Puxi Footwear Store has been established with a registered capital of 10,000 RMB, focusing on a wide range of retail and wholesale activities in various consumer goods sectors [1] Business Scope - The business operates in general projects including retail and wholesale of footwear and hats [1] - It also engages in the sale of daily necessities, clothing, cosmetics, gifts, flowers, bags, toys, stationery, maternal and infant products, leather, hardware, kitchenware, furniture, jewelry, textiles, home appliances, electronic products, automotive accessories, office supplies, outdoor products, and miscellaneous daily goods [1] - The business is authorized to conduct operations independently based on its business license, except for projects that require approval [1]

Group 1 - The article highlights the rising popularity of ancient-style high heels on social media, with consumers expressing admiration for their aesthetic appeal [1] - JD Fashion collaborates with various shoe brands to offer a diverse range of high heel styles that incorporate ancient design elements, catering to women's fashion needs across different occasions [1] - The article emphasizes the importance of appropriate footwear in professional settings, showcasing specific products like the Lubotting patent leather Mary Jane heels and the Sgatu 2025 spring collection high heels, which balance elegance and comfort [1] Group 2 - For significant events such as weddings and festivals, JD offers high heels that enhance one's appearance, featuring brands like Valentino and 73HoursX R.S.G, which incorporate traditional Chinese aesthetics [5] - The article discusses the need for stylish yet comfortable shoes for daily outings, highlighting popular products like Belle's thick-soled shoes and Daphne's new spring collection, which provide both comfort and a vintage look [9] - JD Fashion positions itself as a one-stop solution for various high heel needs, encouraging consumers to explore different styles through the JD app [13]

Core Insights - Analysts project Boot Barn (BOOT) will report quarterly earnings of $1.24 per share, reflecting a year-over-year increase of 22.8% [1] - Revenue is expected to reach $458.18 million, marking an 18% increase from the same quarter last year [1] Earnings Estimates - The consensus EPS estimate has been revised 1.6% lower over the last 30 days, indicating a reevaluation by analysts [2] - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock [3] Key Metrics Projections - Analysts estimate that Boot Barn will open or acquire 21 stores, up from 18 in the same quarter last year [5] - The average store square footage at the end of the period is projected to be 11,134, compared to 10,929 in the same quarter of the previous year [5] - The number of stores operating at the end of the period is expected to be 459, an increase from 400 in the same quarter last year [5] - Total retail store square footage is estimated to reach 5.11 million, compared to 4.37 million a year ago [6] Stock Performance - Boot Barn shares have increased by 20.1% in the past month, outperforming the Zacks S&P 500 composite, which rose by 13.7% [6] - Despite the recent performance, Boot Barn holds a Zacks Rank 4 (Sell), indicating expectations of underperformance relative to the overall market in the near term [6]

Group 1: Military Parade - The U.S. will hold a military parade on June 14 to celebrate the 250th anniversary of the U.S. Army, honoring veterans and active military personnel [3][4] - The parade is part of a larger celebration that has been in preparation for about two years, including various activities and military equipment displays [3][4] Group 2: Fiscal Year 2026 Budget Proposal - The Trump administration's FY 2026 budget proposal includes a $163 billion cut in non-defense spending while increasing defense and homeland security spending [6][7] - The proposed budget of $1.7 trillion represents a 7.6% decrease from the previous year, with defense spending set to increase by 13% and homeland security by nearly 65% [6][7] - Significant cuts include $5.7 billion in electric vehicle charging infrastructure and over $15 billion in funding for the Department of Energy [6][7] Group 3: Shoe Industry Concerns - The American Footwear Distributors and Retailers Association has requested the White House to exempt the shoe industry from "reciprocal tariffs," citing survival threats to the industry [9][10] - The tariffs have led to significant price increases, with a $150 shoe now costing $230, reflecting a 53% increase due to tariffs [10] - The association warns that many companies cannot absorb these costs, risking business closures and inventory shortages [9][10]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 POU SHENG INTERNATIONAL (HOLDINGS) LIMITED 寶勝國際（ 控 股 ）有 限公司 （於百慕達註冊成立之有限公司） （股份代號：3813） 二零二四年十二月之每月收益公告 本公司為聯交所主板上市公司裕元的子公司。按照國際財務報告準則，裕元被 視為臺灣證交所上市公司寶成工業之子公司。寶成工業根據臺灣證券交易所的 規例規定刊發每月收益公告。 由於裕元於今日公佈其若干綜合財務資料，故本公司根據上市規則第13.09(2)條 及證券及期貨條例第XIVA部刊發本公告，確保及時向投資者提供最新資料。 寶勝國際（控股）有限公司（「本公司」）為香港聯合交易所有限公司（「聯交所」）主 板上市公司裕元工業（集團）有限公司（「裕元」）的子公司。按照國際財務報告準則， 裕元被視為臺灣證券交易所股份有限公司（「臺灣證交所」）上市公司寶成工業股份 有限公司（「寶成工業」）之子公司。根據臺灣證券交易 ...