Investment Rating - The investment rating for the company is "Buy" [4] Core Insights - The main brand of the company shows steady growth, with a low single-digit increase in revenue for Q2 2025, while Saucony's revenue grew by over 20% year-on-year, with a strategic adjustment in e-commerce channels leading to a reduction in low-priced products and tighter discounts [1][2] - The company expects Saucony's revenue to grow by 30-40% for the full year, maintaining its guidance despite a slowdown in Q2 due to strategic adjustments [2] - The Direct-to-Consumer (DTC) strategy will officially start in Q4 2025, aiming to optimize retail structure and improve operational efficiency [2] Financial Summary - The projected revenue for 2025 is approximately 14.39 billion, with a year-on-year growth of 6% [4] - The expected net profit for 2025 is around 1.37 billion, reflecting a year-on-year increase of 10.92% [4] - The earnings per share (EPS) is projected to be 0.50 yuan for 2025, with a price-to-earnings (P/E) ratio of 9.86 [4]

1983年的纽约马拉松终点前200米，纽西兰名将Rod Dixon终于追上领先已久的Geoff Smith——在之 前的32公里中，他始终落后两分钟，却凭"负分段"策略把力量留到后程，以2:08:59的成绩完成史诗 级逆转。 Rod Dixon夺冠后，百年跑鞋世家Saucony索康尼以他的名字首字母推出DXN Trainer，在当时率先 采用轻量中底和缓震结构，被视作当时"头等舱脚感"。用冠军故事做产品背书：Rod Dixon靠半程爆 发赢得大满贯，DXN用高缓震+轻质帮助大众跑者"后劲更足"。 一个是坚持"永不放弃"的冠军，一个是横跨三个世纪专注跑鞋科技的品牌——两者的联手，恰好 把"半路蓄力、终点致胜"的价值观，从赛道故事变成可穿在脚下的现实。 Rod Dixon常说："All Miles Are Good Miles."（所有里程，皆有价值）这句跑圈金句被很多跑者奉 为圭臬。他相信每一步都在为后程蓄力——这正是Saucony索康尼要讲的故事： 当焦虑和竞速裹挟时 代，真正的胜利也许不是更快，而是抵达中途的智慧。 重新定义"从容"的胜利观 Rod Dixon的故事与今年Saucony索康尼和TEDx外滩在 ...