中证报中证网讯(王珞)10月30日盘后，海澜之家（600398）集团股份有限公司(以下简称：海澜之家或公 司，600398.SH)发布2025年三季度财报，报告显示，公司前三实现营业收入155.99亿元，同比增长 2.23%；归母扣非净利润18.16亿元，同比增长3.86%。值得一提的是，主品牌海澜之家连续11年蝉联中 国男装市场占有率第一(市占率5%)，公司市值稳居A股服装类目首位，营收规模连续六年领跑A股服装 企业。 海澜之家努力抓住线上线下（300959）融合的新机遇，聚焦个性化需求，将品牌的优势与互联网思维相 结合，实现了主要传统电商、社交电商及自媒体的多平台运营，为消费者提供了多触点、便捷化的多场 景购物方式，有效推进线上和线下融合、优势互补、相互加持的全渠道发展。 公司线下的门店遍布全国31个省份，覆盖80%以上的县、市，并进一步拓展到东南亚海外市场。线上业 务全域布局，通过完善产品矩阵、深耕内容生态及精准营销策略。紧密围绕"内容传播高价值"核心策 略，公司以精准营销推动品牌声量与销售转化协同增长。报告期，公司实现实现线上渠道主营业务收入 30.93亿元。 产品研发：科技与设计双轮驱动构建技术护城 ...

Core Insights - The company reported a revenue of 11.566 billion yuan for the first half of 2025, representing a year-on-year growth of 1.73% [1] - The net profit attributable to shareholders after deducting non-recurring items was 1.566 billion yuan, with a year-on-year increase of 3.83% [1] - The new strategic direction for 2025 focuses on "focusing on brands, embracing the global market, and enhancing quality of life" [1] Revenue Breakdown - The main brand, Haieranzhijia, has shown a steady increase in gross margin due to network expansion over the past three years [1] - The Haieranzhijia group purchase custom series and other brands maintain a gross margin of over 40% [1] - Overall, the improvement in gross margin is driven by channel structure optimization and product mix adjustments [1] Brand Performance - The corporate clothing segment, Haieranzhijia group purchase, achieved a revenue of 1.343 billion yuan, growing by 23.70% year-on-year [2] - The women's brand OVV contributed significant growth through high-end fabric series [2] - The children's brand YeeHoO enhanced its high-end positioning, leading to increased member repurchase rates [2] - The sportswear segment opened over 400 stores in lower-tier cities, focusing on cost-effective products [2] - The collaboration with JD.com to create the "JD Outlet" model has integrated online and offline resources, with 23 new stores opened in the first half of the year [2] - Other brands collectively generated a revenue of 1.500 billion yuan, marking a year-on-year growth of 65.57% [2]