Core Insights - Keep has officially announced table tennis world champion Sun Yingsha as its brand ambassador, aiming to inspire a new chapter in national fitness through her influence and energy [1][3] - The collaboration is seen as a strategic move to promote the concept of fitness for all, aligning with Keep's mission to make sports accessible and enjoyable for everyone [2][6] Company Overview - Since its establishment in 2014, Keep has built a comprehensive sports ecosystem that includes online courses, smart hardware, offline services, and a sports community, becoming an integral part of the fitness lifestyle in China [2][4] - Keep has successfully combined the professionalism of sports with accessibility for the general public, allowing individuals who previously found exercise daunting to discover suitable ways to engage in physical activity [2][4] Brand Collaboration - The partnership with Sun Yingsha is not only a collaboration between a brand and an athlete but also a powerful message of positivity and motivation, resonating with Keep's brand spirit of "self-discipline gives me freedom" [3][6] - Keep aims to leverage Sun Yingsha's image and athletic characteristics to create a series of online challenges, courses, and interactive content, enhancing user engagement and enjoyment in sports [2][5] Technological Integration - Keep offers thousands of official courses across over 60 categories, catering to diverse user needs and making exercise accessible anytime and anywhere [4][5] - The company has introduced smart hardware products that interact with its app to provide personalized exercise recommendations, enhancing the scientific approach to fitness [5][6] National Fitness Strategy - With the government's ongoing push for national fitness and the introduction of policies to encourage public participation in sports, Keep is developing more precise personalized weight management solutions to meet user health needs [6] - Keep's "Dream Sports Field" initiative aims to improve sports environments for children in remote areas, demonstrating the company's commitment to social value and community health [6]

Summary of Keep's Financial Performance - Keep reported a revenue decline of 20.8% year-on-year to 821 million yuan in the first half of 2025, but achieved a net profit of 10.34 million yuan, a turnaround from a loss of 160 million yuan in the same period last year [1][2] - The company's self-branded sports product revenue fell by 20.9% to 400 million yuan, attributed to the scaling down of low-margin product categories [2] - Online membership and paid content revenue decreased by 22.9% to 340 million yuan, primarily due to reduced income from online sports events [2] - Advertising and other income dropped by 11.0% to 88 million yuan, influenced by the gradual shutdown of the Keepland business [2] Cost Management and Profitability - Keep's overall costs decreased by 29.9% to 390 million yuan, leading to a gross profit of 430 million yuan and a gross margin increase of 6.2 percentage points to 52.2% [3] - The gross margin for online membership and paid content rose to 71.3%, up 3.4 percentage points, due to an increase in subscription revenue and improved operational efficiency [3] - The gross margin for self-branded fitness products improved to 34.8%, up 3.3 percentage points, driven by product mix optimization and better pricing strategies [3] - Marketing and market expenses fell by 30.9% to 220 million yuan, while R&D expenses decreased by 17% to 160 million yuan [3] Financial Position - As of June 30, 2025, Keep had total available funds of 1 billion yuan, including cash, cash equivalents, and short-term investments [3] Market Context - Keep's case illustrates that even in a saturated market, there is potential for profitability through pragmatic cost-cutting measures [4][5]