Core Viewpoint - The company has demonstrated significant recovery in profitability, with a 45.27% year-on-year increase in net profit attributable to shareholders, reaching 85.05 million yuan in the first half of 2025, driven by a multi-brand strategy and enhanced operational efficiency [1] Group 1: Financial Performance - In the first half of 2025, the company's combined sales and management expense ratios decreased by 2.1 percentage points, reflecting effective cost control measures [1] - The company achieved a significant improvement in inventory turnover, with the inventory turnover rate increasing from 0.8 times to 1.1 times [2] Group 2: AI Integration - The company is deeply integrating AI technology across its entire value chain, enhancing design efficiency and precision, and improving supply chain and product management through partnerships with AI service providers [2] - AI tools have been utilized to enhance marketing and operational efficiency, leading to cost savings in production and improved sales diagnostics [2] Group 3: Brand Performance - The company has seen robust growth in international brands, with notable revenue increases: 21% for the UK brand self-portrait, 16% for the French brand IRO in China, and 10% for the German brand Laurèl [3] - The company is strategically closing underperforming stores in its overseas operations while maintaining investment in brand and product design to support recovery [3] Group 4: E-commerce Growth - The company has successfully implemented a multi-brand, multi-platform strategy, resulting in a 21% year-on-year increase in online sales to 268 million yuan, with online sales accounting for 20% of total sales [5] - The French brand IRO has achieved exceptional growth in online sales, particularly on platforms like Douyin, contributing to the overall online sales surge [5] Group 5: Future Outlook - The company plans to continue its multi-brand, multi-platform strategy to enhance e-commerce capabilities and drive overall revenue growth [6] - The chairman emphasized a focus on high-end markets to meet diverse consumer demands, positioning the company for sustained competitive advantage and high-quality growth [7]

Core Insights - The company reported a revenue of 1.371 billion yuan for the first half of 2025, with a comparable revenue growth of 4% after excluding the Ed Hardy brand from the consolidated financial statements [1] - The multi-brand matrix strategy has led to a robust development in the domestic market, with comparable income growth of approximately 5% year-on-year, and a notable 8.4% growth in the second quarter [1] - The company's net profit attributable to shareholders increased significantly by 45.3% year-on-year to 85.06 million yuan, reflecting a recovery in profitability due to stable domestic market performance and cost reduction measures in overseas operations [1] Online Sales Performance - The company continued to advance its multi-brand and multi-platform online strategy, achieving rapid growth in online sales [2] - The IRO brand experienced exceptional online growth in China, with online channels achieving over 60% growth, and ranking among the top ten luxury brands on Douyin during the 618 shopping festival [2] - The self-portrait brand saw an online revenue increase of over 40%, maintaining its position among the top international brands on Tmall and ranking high on Douyin [2] - The Laurèl brand's online revenue grew by 14%, remaining in the top tier of women's suit categories on Tmall, with a noticeable upward trend on Douyin [2] - The ELLASSAY brand's online revenue increased by 13%, with significant growth in live streaming on video platforms [2] - Overall, the company's online sales reached 268 million yuan, reflecting a rapid growth of 21% year-on-year, with online revenue accounting for 20% of the main business, an increase of 2.83 percentage points on a comparable basis [2]