Core Insights - The company Xtep has achieved significant success at the recently concluded 15th National Games, with athletes wearing Xtep apparel winning a total of 18 medals, including 9 gold medals [2] - Xtep has established a strong presence in the running sector through systematic research and innovation, developing four major technology platforms: XTEP FIT, XTEP DURA, XTEP ACE+, and XTEP POWER, which cater to various technical needs of athletes [2] - The XTEP FIT technology is based on data from 300,000 foot shapes of Chinese individuals, ensuring a stable fit during long-duration high-intensity competitions [2] - Xtep has built a technical barrier in the professional endurance sector, having assisted 107 domestic athletes in winning a total of 507 marathon championships as of August this year [3] - In the marathon sector, Xtep achieved the highest overall wearing rate in six core events by 2025, with the Beijing Marathon leading at a 32.8% wearing rate for three consecutive years [3]