Core Viewpoint - The company achieved significant growth in revenue and net profit in the first half of 2025, driven by a multi-brand strategy, all-channel layout, and supply chain optimization, amidst a recovering consumer market and favorable outdoor sports policies [2][3]. Financial Performance - In the first half of 2025, the company reported revenue of 378 million yuan, a year-on-year increase of 15.10% from 328 million yuan [3]. - The net profit attributable to shareholders reached 16.82 million yuan, marking a substantial year-on-year increase of 105.75% [3]. - The net profit after deducting non-recurring gains and losses surged by 323.29% to 15.36 million yuan, indicating a significant improvement in core business profitability [3]. - The net cash flow from operating activities improved dramatically, turning from -24.95 million yuan in the previous year to 9.79 million yuan, a year-on-year growth of 139.23% [3]. Multi-Brand and All-Channel Strategy - The company has accelerated its multi-brand strategy, with X-BIONIC generating revenue of 140 million yuan, a growth of 28.07% [4]. - The X-BIONIC brand launched innovative products, including the HERMITLT lightweight jacket and TERRASKIN running shoes, which received international awards [4]. - The company established a robust offline presence with 57 stores across 15 provinces and 22 cities by the end of June [4]. - The Swedish brand HOUDINI saw revenue increase by 187.87% to 40.73 million yuan, with a total of 10 new stores opened [5]. Online and Offline Synergy - The company organized 76 community events, engaging over 1,500 participants, and expanded its membership program, adding 18,382 new members, totaling 441,000 members by June [7]. - Online sales through platforms like Tmall, JD.com, and Douyin reached 385 million yuan, contributing 46.98% to total revenue, with a year-on-year growth of 20.32% [7]. Supply Chain Management - The company made significant strides in supply chain management, becoming one of the first to enter the Suqian Bonded Logistics Center, which helps reduce international procurement costs [8]. - This strategic move is expected to enhance the company's competitiveness in high-value outdoor products, supporting future growth in a competitive market [8].