Core Viewpoint - China Dongxiang Group integrates sustainable development concepts into every aspect of its supply chain management, actively responding to the national "dual carbon" goals and global sustainable development initiatives [1][4] Group 1: Supply Chain Management - The company operates two well-known sportswear brands, KAPPA and PHENIX, and has been a pioneer in the domestic sportswear industry [1] - In the 2024/2025 fiscal year, the supplier elimination rate reached 8%, while the proportion of high-quality A-level suppliers increased from 65% to 78%, further optimizing supply chain resilience [1] Group 2: Environmental Responsibility - The company conducts detailed reviews of suppliers' operations for high-pollution processes like printing and dyeing, ensuring compliance with environmental regulations [2] - In the 2024/2025 fiscal year, total greenhouse gas emissions decreased by 51.4% compared to the previous fiscal year, and 100% of the purchased shoe boxes and paper packaging materials were FSC certified [2] Group 3: Innovation and Collaboration - The company actively builds an open and cooperative ecological platform, enhancing overall resource recycling rates in the industry through initiatives like promoting eco-friendly materials and optimizing production processes [3] - The company emphasizes collaborative innovation with industry partners, recognizing that technological innovation and resource integration are core drivers of industry progress [3] Group 4: Future Outlook - The company aims to deepen the transparency, greenness, and collaboration of its supply chain management, contributing to the transformation of the sports fashion industry towards greater efficiency, lower carbon emissions, and higher responsibility [4]

Group 1: Industry Overview - The State Council issued an opinion to enhance the sports industry, aiming for a total scale exceeding 7 trillion yuan by 2030, with significant improvements in development levels [1] - The sports industry in China reached a total scale of 3.67 trillion yuan in 2023, with an average annual growth rate of 10.3% since the 14th Five-Year Plan [1] - The sports service industry, led by competition performance and fitness leisure sectors, accounted for 72.7% of the added value in the sports industry [1] Group 2: Outdoor and Ice Sports Development - The opinion emphasizes the development of outdoor sports, proposing differentiated development based on local natural resources and promoting high-quality outdoor sports destinations [2] - The ice and snow economy is being cultivated, with measures to support ice sports equipment and expand participation in ice sports [2] - The outdoor sports online consumption is projected to reach approximately 300 billion yuan by 2024, with participation expected to be around 200 million people [3] Group 3: Financial Support and Investment - The opinion encourages financial institutions to optimize financing services for sports enterprises, including support for listings, refinancing, and asset securitization [3] - The sports industry has seen significant investment activity, with 16 disclosed financing events totaling about 559 million yuan as of September 4, 2025 [4] - The domestic consumption stimulus policies are expected to improve macro consumption conditions, benefiting the sports apparel market [4] Group 4: Company Performance - Li Ning has established a clear product matrix and is focusing on product development, aiming to strengthen its market share against international brands [6] - Anta Sports reported a 15% year-on-year increase in net profit, driven by a 14% revenue growth, with an improved operating profit margin [6] - Xtep International achieved a revenue of 6.838 billion yuan for the first half of 2025, a 7.14% increase year-on-year, with significant growth attributed to online sales channels [6]