Amer Sports (AS) Q1 2025 Earnings Call May 20, 2025 08:00 AM ET Speaker0 Thank you for standing by, and welcome to the Amur Sports First Quarter Fiscal twenty twenty five Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer Thank you. I'd now like to turn the call over to Omar Saad, SVP, Capital Markets and Investor Relations. You may begin. Speaker1 Welcome, everyone. Thanks for joining Amherst Sports ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 本次权益分派股权登记日为：2025 年 5 月 27 日，除权除息日为：2025 年 5 月 28 日。 四、权益分派对象 证券代码：301287 证券简称：康力源 公告编号：2025-027 江苏康力源体育科技股份有限公司 江苏康力源体育科技股份有限公司（以下简称"公司"或"本公司"）2024 年年度权益分派方案已获2025年5月13日召开的2024年年度股东大会审议通过。 现将权益分派事宜公告如下： 一、股东大会审议通过权益分派方案情况 权益分派方案，2024年年度权益分派方案的具体内容为：以公司现有总股本 共计派发现金红利33,335,000.00元（含税），其余未分配利润结转下年；不送红 股，也不进行资本公积金转增。在利润分配预案实施前，公司总股本如发生变动， 将按照分配总额不变的原则对分配比例进行调整。 配方案一致。 二、本次实施的权益分派方案 本公司 2024 年年度权益分派方案为：以公司现有总股本 66,670,000 股为基 数，向全体股东每 10 股派 5.000000 元人民币现金（含税；扣税 ...

Group 1: Core Trends - "Chinese purchase" is becoming a global trend, with foreign visitors increasingly traveling to China for shopping, leading to a surge in "reverse purchasing" [1][5] - During the recent May Day holiday, UnionPay and Wanglian reported a year-on-year increase of 244.86% in transaction volume and 128.04% in transaction value from foreign visitors [1] - Inbound tourist spending in China reached $94.2 billion last year, marking a 77.8% increase compared to the previous year [1] Group 2: Policy and Regulatory Environment - China has implemented visa-free entry policies for 38 countries and extended transit visa-free stay from 72/144 hours to 240 hours [2] - The "immediate refund" tax policy for departing tourists has seen a 22-fold increase in pilot regions, significantly boosting the overall tax refund scale [2] - Recent announcements from the State Taxation Administration and other departments aim to further optimize tax refund policies and enhance the shopping experience for inbound consumers [2] Group 3: Payment Experience - China's advanced digital payment ecosystem has lowered payment barriers for foreign tourists, making shopping more seamless [3] - Services such as "foreign card binding" and "foreign wallet usage" allow international visitors to make payments easily, enhancing their shopping experience [3] - The development of "borderless payment" solutions is a key factor in the popularity of "Chinese purchase" among global consumers [3] Group 4: Rise of Domestic Brands - Chinese brands are transforming global consumer perceptions, moving from "Made in China" to "Chinese brands" through innovation and quality [4] - Companies like Huawei, DJI, Xiaomi, Anta, and Gree are gaining significant market shares and recognition in international markets [4] - The emergence of domestic brands reflects a "quality revolution," contributing to the success of "Chinese purchase" on the global stage [4] Group 5: Economic Implications - The shift from "overseas purchasing" to "Chinese purchase" highlights the deep interaction between China and the world, showcasing the vibrancy of the Chinese consumer market [5] - The combination of favorable policies, convenient payment experiences, and strong domestic brands creates a powerful synergy that enhances China's economic resilience [5] - The ongoing high-level opening-up and structural reforms in China are expected to further drive the "reverse purchasing" trend, fostering win-win cooperation with the world [5]

智通财经5月20日电，耐克压缩科技部门的规模，并在该部门裁员。 ...

一、ESG信息披露：全球趋势与中国实践 全球ESG信息披露正从自愿走向强制，国际准则加速整合。欧盟《公司可持续报告指令》（CSRD）、国际可持续准则理事会（ISSB）发布的IFRS S1/S2等 框架推动披露标准化，美国虽存在反ESG声音，但全球趋势仍向统一靠拢。中国政策层面，证监会、国资委等出台指引，推动上市公司ESG披露从"倡导"迈 向"规范"，2023年A股披露率达33%，国企披露率超57%，出海企业ESG得分显著高于市场平均水平。 披露实践中，企业面临数据质量、第三方鉴证不足等挑战，但技术赋能（如区块链、AI）和动态沟通（如短视频、实时数据平台）成为趋势。例如，海尔 智家通过三级治理架构推动全球ESG实践，安踏以"0碳使命店"实现场景化沟通，妃鱼利用直播电商推广循环经济，均展现了多元化的沟通策略。 二、企业ESG实践案例：从报告到行动 （一）安踏：场景化沟通破局 安踏通过"0碳使命店"将ESG从报告转化为消费者可感知的体验。门店采用废旧材料装修，推出碳中和产品并标注碳足迹，同时开展库存再造计划，将旧衣 转化为潮流单品。2024年可持续产品占比达30.3%，MSCI评级跃升三级至"A"级，展现了"商业闭 ...

Group 1 - The core viewpoint highlights the resilience of Shandong's foreign trade through diversification and innovation, with a focus on expanding into new markets and reducing reliance on single markets [1][2][3] - The sports goods industry in Huimin County, Shandong, is a significant player, with over 30 companies and an expected output value of 30.2 billion yuan in 2024, showcasing strong export capabilities [1] - The medical supplies sector in Zouping is facing challenges with order reductions, prompting local government support to help companies diversify their markets and avoid over-reliance on specific regions [1][2] Group 2 - New Tai's automotive wheel hub manufacturer has achieved a foreign trade total of 233 million yuan last year, actively participating in various exhibitions to expand domestic market channels [2] - The Linyi Yihe New District organized 62 enterprises for the 137th China Import and Export Fair, emphasizing the importance of cross-border e-commerce platforms like Alibaba and Amazon for local businesses [2] - Shandong's proactive approach includes over 370 international matchmaking events aimed at emerging markets, resulting in significant export growth to regions like Africa and Eastern Europe [3]

Group 1: Agricultural Bank of China - Agricultural Bank of China has implemented high-quality financial services to stimulate market vitality, with personal loan balance reaching 9.27 trillion yuan and credit card "old-for-new" consumption amounting to 154.9 billion yuan as of March [1] - The bank focuses on enhancing customer experience and has increased personal loan issuance while aligning with consumption-boosting policies, creating a service system that integrates policy coordination, scene integration, and technological empowerment [1] - The bank's branding emphasizes its commitment to common prosperity and sustainable development, aiming to provide modern financial services to a wide range of urban and rural customers [1] Group 2: Postal Savings Bank of China - Postal Savings Bank of China has focused on enhancing service quality for the real economy, with nearly 100,000 technology-based enterprises served and a financing balance exceeding 600 billion yuan as of March [3] - The bank's green loan balance reached 910.71 billion yuan, growing by 6.01% compared to the end of the previous year, indicating a commitment to carbon neutrality goals [3] - The bank has also made significant strides in inclusive finance, with agricultural loans totaling 2.4 trillion yuan and inclusive small and micro enterprise loans reaching 1.67 trillion yuan, leading among state-owned banks [3] Group 3: Vivo - Vivo has launched a flagship smartphone featuring self-developed chips and advanced imaging capabilities, showcasing its commitment to technological innovation [8] - The company emphasizes a human-centered approach, developing features for visually and hearing-impaired users, and plans to explore frontiers in 6G, AI, and robotics [8] - Vivo aims to integrate technology into everyday life, ensuring that innovations serve practical needs and enhance user experience [9] Group 4: Anta Group - Anta Group reported record revenue in its 2024 financial report and has acquired the German outdoor brand Jack Wolfskin to enhance its brand portfolio [11] - The company has invested approximately 2 billion yuan in R&D in 2024, with a total of 20 billion yuan over the past decade, indicating a strong focus on innovation [11] - Anta is developing targeted retail formats to improve consumer experience, including "Super Anta," which offers a comprehensive shopping experience for families [12] Group 5: Qingdao Beer - Qingdao Beer has maintained a strong focus on product quality, winning multiple awards and emphasizing its commitment to quality through its "good people brew good beer" philosophy [13] - The brand is innovating by transitioning to high-end, intelligent, and green production methods, while also enhancing consumer engagement through immersive experiences [13] - Qingdao Beer is integrating traditional Chinese culture into its branding, launching products with cultural significance to appeal to global consumers [14] Group 6: Hailiang Education Technology - Hailiang Education Technology is leveraging AI to enhance educational resources in rural areas, with its AI model covering 28 provinces and serving 400,000 teachers and students [15][16] - The company aims to improve educational quality through a comprehensive solution that includes over 120 products and services, focusing on operational efficiency [16] - Hailiang's initiatives in rural education emphasize collaboration with local governments and communities to uplift educational standards [16]

Group 1: Sweden-China Trade Relations - Over 10,000 Swedish companies are engaged in trade with China, with notable firms like IKEA, Ericsson, and Volvo having a long-standing presence in the Chinese market [1] - This year marks the 75th anniversary of diplomatic relations between China and Sweden, with both countries being each other's largest trading partners in their respective regions [1] - Chinese investment in Sweden is expected to grow by 70% in 2024, with high-tech Chinese companies contributing to Sweden's economic growth and green transition [1] Group 2: Swedish Companies Investing in China - Atlas Copco has established a key technology center in Wuxi, which will serve as a hub for manufacturing, R&D, talent development, and customer interaction, supporting both local and global markets [2] - Scania, a subsidiary of Volkswagen Group, is also increasing its investment in China, including plans for a new heavy truck manufacturing plant [4] - Volvo has emphasized the rapid development of the electric vehicle market in China, highlighting the competitive and innovative nature of the Chinese automotive industry [5][7] Group 3: R&D and Talent Acquisition - Volvo's R&D vice president noted that China has a significant talent pool, with 10 million university graduates annually, compared to Sweden's limited population [7] - Swedish companies are increasingly shifting R&D efforts to China to develop products that better meet local market demands [9] - The trend of Chinese automotive manufacturers expanding globally is noted, with local suppliers entering European markets as Chinese carmakers establish production facilities abroad [7][8] Group 4: Market Dynamics and Challenges - Swedish companies face challenges in profitability, which is a common issue for foreign and domestic firms in the current economic climate [9] - The main export sectors from Sweden to China include industrial equipment, ships, and robots, with a growing number of consumer goods companies increasing their investments in the Chinese market [9] - STIGA, a well-known table tennis brand, holds a 40% market share in China's first-tier market, reflecting the strong demand for Swedish products [11]

Core Viewpoint - Anta has established itself as a leading international sportswear group through innovation, high-tech product development, and a commitment to sustainability and brand expansion [1][5][7]. Group 1: Innovation and Technology - Anta has developed high-tech sports products, including the C10 Pro running shoes, which utilize advanced materials and design for superior performance [3][4]. - The company invests over 5% of its sales revenue in research and development, leading to breakthroughs in technologies like nitrogen technology for shoe midsoles, significantly reducing production costs while enhancing performance [4][6]. - Anta has created an open innovation ecosystem involving six global design and R&D centers, over 70 universities and research institutions, and more than 250 experts [4][8]. Group 2: Transformation and Development Strategies - Anta is focusing on high-end, intelligent, and green development, with initiatives like zero-carbon stores and the use of sustainable materials in products [5][6]. - The company has improved its production efficiency through digitalization and automation, reducing garment production time from over three days to just three hours [6]. - Anta aims for over 50% of its materials to be sustainable by 2030, incorporating recycled materials into its product lines [6]. Group 3: Brand Expansion and Internationalization - Anta recognizes the importance of brand development to avoid low-level competition and enhance quality and efficiency [7][8]. - The company has successfully acquired and developed international brands like FILA, creating a second growth curve through enhanced brand positioning and consumer appeal [7]. - Anta is actively expanding its international presence, with over 15 domestic and international brands and a significant number of stores in Southeast Asia and design centers in the US, Japan, and Korea [7][8].

Core Insights - The article highlights how the Rongchang District in Chongqing has successfully transformed the popularity of "Rongchang Braised Goose" into a significant investment opportunity, resulting in over 5 billion yuan in total investments from various projects [1][9]. Group 1: Investment and Projects - On May 17, a promotional event led to the signing of 16 projects with a total investment of 2.25 billion yuan, including 8 projects in the goose industry chain worth 900 million yuan and 8 key projects worth 1.35 billion yuan [3]. - The goose industry chain projects accounted for 50% of the total investment during the signing event, showcasing the district's targeted investment strategy [6][8]. - A notable case is Jiangsu Feiyu Sports Goods Co., which plans to invest 500 million yuan in a badminton production project, demonstrating the rapid response and efficiency of the Rongchang investment team [5][9]. Group 2: Investment Environment and Policies - Rongchang has established a favorable business environment, with a GDP growth of 6% in Q1 and industrial investment growth of 23% [9][11]. - The district introduced three policy packages: "Opportunity Package," "Policy Package," and "Service Package," which include 44 supportive policies for manufacturing and various financial products to meet enterprise needs [11]. - The district's approach emphasizes a systematic method to convert online popularity into sustainable economic growth, focusing on capturing trends and providing solid services to businesses [11][12].