Core Insights - The event held by the Aimer Public Welfare Foundation during Breast Cancer Awareness Month aims to provide support for women post-breast cancer surgery and raise awareness about women's health throughout their life cycle [1][3] - The Pink Ribbon symbolizes a commitment to fighting breast cancer, emphasizing the importance of not only extending life but also enhancing the quality of life for women [3] - Aimer Public Welfare Foundation has donated over 50,000 breast prostheses over the past twelve years, demonstrating its commitment to women's health and equality [3][5] Group 1 - The event took place at the Beijing Century Jinyuan Shopping Center and was part of the annual "Pink Love • Breast Prosthesis Donation" project [1] - The event coincided with the global Pink Ribbon Care Day, highlighting the foundation's ongoing focus on women's health issues [1][3] - Key guests included Zhang Xiaoyuan, Vice President of the China Volunteer Association, and Bai Xun, Director of Operations at Century Jinyuan Shopping Center, who supported the initiative [1] Group 2 - The Aimer Public Welfare Foundation, established in 2013, is a 3A-level public welfare organization directly managed by the Ministry of Civil Affairs [5] - Aimer Co., Ltd. has been dedicated to the intimate apparel sector for 32 years, with a mission to "create beauty and convey love" [5] - The foundation conducts breast cancer prevention campaigns and interactive activities to raise public awareness about breast health [5][6] Group 3 - The foundation has organized donation activities and health lectures in 93 cities across 28 provinces, donating over 50,000 breast prostheses and more than 10,000 bras, valued at nearly 50 million yuan [6] - In addition to the recent event, the foundation is actively conducting breast prosthesis donations in nearly 40 cities nationwide [6]

Core Viewpoint - Aimer Co., Ltd. has decided to terminate the investment in the Aimer Central Intelligent Logistics Park project due to weak terminal sales growth and high operating costs, shifting its strategic focus towards international markets [2][5]. Group 1: Project Termination - The company announced on September 17 that it will halt the investment in the logistics park project, which was initially planned to cost 550 million yuan [2][5]. - The logistics park was intended to enhance the company's warehousing and logistics capabilities, with a projected storage capacity of 30 million items [3]. - Despite nearly a year and a half of planning and supplier selection, no actual investment was made in the project [5][4]. Group 2: Financial Performance - For the first half of 2025, Aimer reported a revenue of 1.598 billion yuan, a year-on-year decrease of 2.91%, and a net profit of 106 million yuan, down 31.37% [6][7]. - The company has experienced a continuous decline in net profit for one and a half years, with a significant drop attributed to high operating costs and a challenging market environment [6][7]. - As of June 30, 2025, Aimer had 1,696 offline sales terminals, a net decrease of 50 from the end of 2024 [8]. Group 3: Market Conditions - The company faces a challenging domestic market characterized by stagnant demand and increased competition, prompting a strategic shift towards global expansion [5][6]. - Aimer's management has acknowledged the impact of consumer downgrade and weak mid-to-high-end demand on its revenue, leading to a cautious approach towards new investments [7][8]. - The company aims to optimize product design and management practices to improve profitability amidst these challenges [9].

Core Viewpoint - Company Aimer Co., Ltd. has announced the termination of its investment in the Suzhou Logistics Park project, which was initially planned to require an investment of 550 million yuan, citing a shift in strategic focus towards global expansion and the current domestic market's competitive landscape [1][3]. Group 1: Project Termination - The company has not made any actual investments in the Suzhou Logistics Park project to date [1][3]. - The decision to terminate the project does not negatively impact the company's operations or future development [1]. - The project was initially approved in April 2024, with plans to enhance the company's logistics capabilities [1][2]. Group 2: Strategic Shift - Aimer's strategic focus has shifted towards global expansion, with an emphasis on enhancing asset efficiency and maintaining cash reserves in response to a complex market environment [3]. - The company has initiated the construction of a supply chain base in Vietnam to meet international market logistics demands over the next 3 to 5 years [3]. Group 3: Financial Performance - In the first half of the year, Aimer reported a revenue of 1.598 billion yuan, a year-on-year decrease of 2.91%, and a net profit of 106 million yuan, down 31.37% year-on-year [3]. - The company faces challenges in the mid-to-high-end market due to sluggish demand and rising operational costs, which have significantly impacted net profit [3]. Group 4: Market Trends - Despite intense price competition in the lingerie market, consumer demand for high-quality, comfortable, and sustainable products remains strong [4]. - There is a growing trend towards emotional value consumption and service experience, with health and sustainability becoming new standards in consumer decision-making [4].

Core Viewpoint - Aimer Co., Ltd. reported a decline in revenue and net profit for the first half of 2025, attributed to weak demand in the mid-to-high-end market and increased operational costs [1][2]. Financial Performance - Revenue for the first half of 2025 reached 1.598 billion yuan, a year-on-year decrease of 2.91% [1]. - Net profit attributable to shareholders was 106 million yuan, down 31.37% year-on-year [1]. - Net profit excluding non-recurring gains and losses was 89.2611 million yuan, a decline of 28.62% year-on-year [1]. - Net cash flow from operating activities was 342 million yuan, an increase of 14.85% year-on-year [1]. Business Model and Strategy - The company focuses on high-quality intimate apparel and has developed a multi-brand, omnichannel business model, including brands like AIMER, AIMER MEN, and AIMER KIDS [1]. - Offline channels remain the core sales avenue, while online presence includes platforms like Tmall, JD.com, and Douyin, along with new retail models [2]. - The company plans to enhance profitability through operational innovation, brand enhancement, and overseas market expansion, including terminating the Huxi brand and integrating resources [2]. Product and Market Development - Aimer's brands continued to innovate, with the "Seaweed Sleepwear" winning two awards at the 2025 China Sleep Conference [3]. - Revenue by brand showed AIMER at 696 million yuan (down 3.25%), AIMER MEN at 308 million yuan (down 2.28%), AIMER KIDS at 216 million yuan (down 1.04%), Aimeili at 70.2077 million yuan (down 22.14%), and Lankaven at 64.5149 million yuan (up 2.62%) [3]. - The company is expanding its overseas strategy, including entering the TIK TOK US platform and establishing stores in Vietnam and Australia [3].

Core Viewpoint - In 2024, Aimer Co., Ltd. faced significant challenges in the intimate apparel industry, with a 7.71% year-on-year decline in revenue to 3.163 billion yuan and a 46.56% drop in net profit to 163 million yuan, marking the worst performance since its listing [1] Group 1: Revenue and Profit Decline - The revenue from the core bra category plummeted by 15.83%, with sales volume decreasing by 18.12%, reflecting a disconnect between product iteration and consumer demand [2] - Overall sales across all channels declined, with offline direct sales down 7.96% and online sales down 8.14%, indicating the fragility of traditional retail models [2] - The company reported a high inventory level of 982 million yuan and an inventory turnover period of 327 days, posing a significant risk of inventory depreciation [2] Group 2: Strategic Challenges - The company implemented a high dividend payout of 4 yuan per 10 shares, distributing 99.55% of its net profit, which, while temporarily boosting stock prices, severely weakened future funding reserves [3] - The sales expense ratio surged to 47.17%, while revenue contribution from the online platform Xiaohongshu was minimal, highlighting a mismatch between marketing investment and channel expansion [3] - Operating cash flow net amount dropped by 53.31% year-on-year, indicating a decline in the company's ability to generate cash from its core business [3] Group 3: Long-term Solutions - The core issue for Aimer Co., Ltd. is its adaptability crisis in the consumer sovereignty era, necessitating inventory turnover optimization and channel value reconstruction as immediate solutions [4] - Long-term strategies should involve redefining brand core through material innovation to enhance product competitiveness or leveraging private domain operations to rebuild user connections [4] - The industry is shifting from "scale expansion" to "value cultivation," requiring a break from reliance on channel inventory pressure and a supply chain transformation driven by user demand [4]