Core Insights - 361 Degrees reported a revenue of 5.705 billion yuan for the first half of 2025, representing an 11% year-on-year increase, and a net profit of 858 million yuan, up 8.6% year-on-year [1] - The company plans to implement a mid-term dividend of 0.187 yuan per share, with a payout ratio of 45% [1] Financial Performance - Revenue for the first half of 2025 reached 5.705 billion yuan, an increase of 11% compared to the previous year [1] - Net profit was reported at 858 million yuan, reflecting an 8.6% year-on-year growth [1] Research and Development - R&D investment increased, with the proportion rising to 2.8% of total revenue [1] - The company holds a total of 870 patents and was recognized as one of the "Top 100 Technology Enterprises in China's Light Industry" for 2024 [1] Product Development - The product matrix expanded with over 230 new shoe models launched in the first half of the year [1] - Notable products include professional racing shoes that helped athletes reach the podium 85 times, and basketball products like the "JOKER1GT" All-Star colorway and "DVD3" signature shoes [1] Channel Expansion - The main brand operates 5,669 stores domestically, while the children's brand has nearly 3,000 sales outlets [1] - The innovative 361° super stores have reached a total of 49, including 45 large stores and 4 children's clothing stores [1] E-commerce and International Business - E-commerce revenue amounted to 1.817 billion yuan, a 45% increase year-on-year, accounting for 31.8% of total revenue [1] - Cross-border e-commerce sales grew by 94%, with the overseas offline sales network extending to the Americas, Europe, and Belt and Road regions [1] - The direct store in Kuala Lumpur, Malaysia, is performing well [1] Global Market Engagement - The company is sponsoring international events such as the 2025 Harbin Winter Asian Games and the 2026 Aichi Nagoya Asian Games to deepen global market collaboration [2]