2025年4月27日，世界马拉松大满贯赛事——伦敦马拉松赛场，上演了一场经典对决，埃塞俄比 亚选手蒂格斯特·阿塞法（Tigist Assefa）穿着阿迪达斯ADIZERO ADIOS PRO EVO 1跑鞋，以2 小时15分50秒的佳绩，打破了纯女子马拉松世界纪录。 当镜头聚焦于她足下的这双b u ff叠满的运动"黑科技"时，全球运动产业的目光正见证着一个 新 时 代 的 诞 生 —— 单 鞋 （ 中 国 码 2 6 5 ） 重 量 仅 1 3 8 克 ， 大 约 等 同 于 两 颗 鸡 蛋 的 重 量 ， ADIZERO ADIOS PRO EVO 1刷新了全球竞速跑鞋轻量级纪录。 这款集阿迪达斯尖端科技之大成的竞速利器，正在重塑竞技体育的物理边界与商业逻辑。同 时 也 揭 示 出 一 个 残 酷 现 实 ： 当 EVO 1 的 克 重 突 破 生 理 学 感 知 阈 值 （ 1 5 0 克 ） ， 运 动 品 牌 已 进 入"纳米级创新"时代。 在运动科技军备竞赛白热化的当下，阿迪达斯展现出的不仅是技术突破，更是对竞技体育本 质的深刻理解——顶尖装备应是人体运动潜能的放大器而非替代者。在全球运动产业正经历 ...

Core Insights - Adidas reported strong performance in the Greater China region with Q1 revenue of €1.029 billion, a 13% year-over-year increase, continuing a double-digit growth trend for eight consecutive quarters [1] - Global revenue reached €6.153 billion, also up 13% year-over-year, with operating profit soaring to €610 million, an 82% increase, marking a historical high [1] - The gross margin for the quarter was 52.1%, up 0.9 percentage points year-over-year, while operating margin increased by 3.7 percentage points to 9.9% [1] Revenue and Product Performance - The revenue growth did not include sales from the previously popular Yeezy products, indicating that the actual growth rate could be even higher without this factor [1] - All markets and channels achieved double-digit growth, showcasing the company's significant potential [1] - New product launches in Q1 included the ADIZERO ADIOS PRO 4 and various other running and training shoes, which received market attention [2] Strategic Outlook - Adidas did not mention annual targets in the financial report, reflecting a cautious approach due to geopolitical uncertainties and changing consumer sentiments [2] - The company plans to continue its localized strategy in the Greater China region to enhance the sports consumption experience [2]

连续八个季度实现"有质量的增长"。 本文为IPO早知道原创 作者｜ Stone Jin 微信公众号｜ipozaozhidao 据 IPO早知道消息， 阿迪达斯 于 4月29日 发布了 2025年第一季度财报。 财报显示， 今年第一季度，阿迪达斯全球营收 61.53亿欧元，在货币中性下（下同）较上年同期增 长13%。同期，阿迪达斯营业利润较上年同期的3.36亿欧元同比增长82%至6.1亿欧元；毛利率也 较上年同期提升0.9个百分点至52.1% 。 在全球业绩增长超预期的同时， 作为阿迪达斯重要的战略市场之一，大中华区业绩再次实现双位数 增长 —— 今年第一季度，大中华区实现营收 10.29亿欧元，同比增长13%，已连续八个季度实 现"有质量的增长" 。 阿迪达斯全球 CEO古尔登表示，"对我们团队在第一季度取得的成就感到非常自豪。所有市场和渠 道均实现了双位数的增长，这不仅彰显了我们品牌的实力，也证明了团队卓有成效的工作。6.1亿欧 元的营业利润和9.9%的营业利润率，充分展示了公司的巨大潜力。 目前，由于美国对多个国家和地 区增加关税，且最终的关税处于不断变化的情况，这也将对我们今年的业绩带来不确定性。我们将 ...

Core Insights - Adidas reported a strong performance in Q1 2025, with global revenue reaching €6.153 billion, representing a 13% year-over-year growth in currency-neutral terms [1] - The company's operating profit surged to €610 million, up 82% from €336 million in the same period last year, with a gross margin increase of 0.9 percentage points to 52.1% [1] - The Greater China region achieved a revenue of €1.029 billion, also reflecting a 13% year-over-year growth, marking eight consecutive quarters of "quality growth" [1] Financial Performance - Global revenue for Q1 2025 was €6.153 billion, a 13% increase year-over-year in currency-neutral terms [1] - Operating profit rose to €610 million, an 82% increase from €336 million in the previous year [1] - Gross margin improved by 0.9 percentage points to 52.1% [1] Market Performance - The Greater China region's revenue reached €1.029 billion, with a year-over-year growth of 13% [1] - The region has experienced eight consecutive quarters of double-digit growth [1] Strategic Initiatives - Adidas is focusing on enhancing its core competitiveness in the sports sector, launching new products like the ADIZERO ADIOS PRO 4 running shoes [6] - The company is committed to integrating sports performance with fashion, launching various collections that appeal to younger consumers [7] - Adidas emphasizes a localized strategy in China, leveraging local design capabilities to cater to consumer preferences [8] Brand Development - The brand's global campaign "You Got This" aims to inspire confidence among athletes and consumers [2] - Adidas has engaged with elite athletes and ordinary sports enthusiasts to promote its brand message [2] - The company has introduced various collaborations and limited-edition products to strengthen its market presence [7][8]