Core Insights - The company reported a revenue of 1.727 billion yuan for the first half of 2025, representing a year-on-year increase of 7.9% [1] - The profit attributable to equity shareholders was 243 million yuan, showing a year-on-year decrease of 13.4% [1] - Main series revenue amounted to 1.1906 billion yuan, reflecting a slight decline of 0.2% year-on-year, primarily due to channel transformation leading to a drop in distribution sales and inventory buyback costs [1] - Revenue from light business and other series reached 536.6 million yuan, marking a significant year-on-year growth of 31.8%, driven by store sales and new retail initiatives [1]

主系列收入为11.906亿元，同比减少0.2%，主要原因是渠道转型导致分销业务销售收入下跌以及库存回 购费用扣减。轻商务及其他系列收入为5.366亿元，同比增长31.8%，主要受门店销售和新零售的带动。 公司继续推进向DTC（直面消费者）模式转型，并在山东和重庆收回了一级分销商的经营权。通过开设 购物中心店和奥特莱斯店，并关闭低效门店，优化销售渠道。截至6月底，共有2774家门店，净增1家。 新零售业务保持良好发展势头，线上销售额同比增长24.6%，表现优于整体业绩。 （文章来源：证券时报网） 中国利郎公布，上半年收益为17.272亿元，同比增长7.9%；纯利为2.425亿元，同比下降13.4%。 ...

Core Viewpoint - China Lilang (01234) reported a mid-term performance for the six months ending June 30, 2025, showing a revenue of 1.727 billion RMB, a year-on-year increase of 7.9%, but a decrease in profit attributable to equity shareholders of 243 million RMB, down 13.4% [1] Revenue Breakdown - The main series generated revenue of 1.191 billion RMB, a slight decrease of 0.2% year-on-year, attributed to the company's channel transformation and the recovery of distributor operating rights in Shandong and Chongqing, leading to a decline in distribution sales revenue [1] - The light business and other series continued to show growth, achieving revenue of 537 million RMB, a significant year-on-year increase of 31.8%, driven by sales in stores and new retail initiatives [1] Dividend Announcement - The company proposed an interim dividend of 0.11 HKD per share and a special interim dividend of 0.05 HKD per share [1]