Group 1: On's Q1 Performance - On reported a net sales of 727 million Swiss francs in Q1 2025, a 43% year-on-year increase, exceeding market expectations [1] - Net profit decreased by 38% to 56.7 million Swiss francs, with a net profit margin dropping to 7.8% due to rising costs and market expansion investments [1] - The EMEA market saw a sales increase of 33.6% to 169 million Swiss francs, while the Americas grew by 32.7% to 437 million Swiss francs, and the Asia-Pacific market surged by 130% to 121 million Swiss francs, now accounting for 16.6% of total revenue [1] Group 2: On's Strategic Adjustments - On plans to raise prices in the U.S. market starting July, with potential price increases in other markets next year [1] - The company has adjusted its full-year guidance for 2025, expecting at least a 28% increase in net sales and a gross margin target of 60%-60.5% [2] - The brand aims to expand its global store network by adding 15 new stores in 2025 and deepen collaborations in technology and fashion [2] Group 3: Under Armour's Financial Struggles - Under Armour reported a revenue decline of 9% to 5.2 billion USD for the fiscal year 2025, with a net loss of 200 million USD [3] - The fourth quarter saw an 11% revenue drop to 1.2 billion USD, with a net loss of 67 million USD [3] - The company is focusing on a turnaround plan led by returning CEO Kevin Plank, emphasizing premium products for members and targeting the Asia-Pacific market, particularly China [3][4] Group 4: ASICS Q1 Performance - ASICS reported a Q1 revenue exceeding 200 billion JPY for the first time, reaching 208.3 billion JPY, a 20% increase year-on-year [5] - The net profit for Q1 was 31.6 billion JPY, an 18% increase, marking a historical high for the period [5] - Performance running shoes and sports leisure products showed significant growth, with performance running shoes sales reaching 98 billion JPY, an 11.5% increase [5] Group 5: Starbucks' Strategic Moves in China - Starbucks is exploring various options for its China business, including potential equity sales, and has reached out to private equity firms for feedback [6] - The company reported a 5% year-on-year revenue growth in its latest quarterly results, reaching 739.7 million USD, with a 9% increase in store count to 7,758 [6] - Starbucks is committed to the Chinese market, seeing significant growth potential in the coming years [6] Group 6: Market Trends in Low-Sugar Tea - The low-sugar tea beverage market in China is experiencing rapid growth, with a sales growth rate of 41% in 2024, significantly outpacing the overall soft drink market [18] - Low-sugar tea now accounts for 20% of the bottled tea market, with expectations to reach 30% by 2029 [18] - Consumer health consciousness is driving the demand for low-sugar products, with 30% of Chinese consumers consuming health products daily [18]