三夫户外(002780) - 2025-002：2025年2月18日投资者关系活动记录表

Company Overview - The company focuses on developing its own brands and exclusive agency brands, with a current emphasis on the X-BIONIC brand [2] - The sales channels are primarily direct sales, with some distributors for X-BIONIC and HOUDINI brands [2] Financial Performance - The 2024 revenue forecast is between CNY 760 million and CNY 840 million, with a net profit loss estimated between CNY -20 million and CNY -30 million [2] - The company expects stable year-on-year performance despite the impact of the termination of cooperation with certain brands and the establishment of a joint venture [2] Store Expansion Plans - In 2025, X-BIONIC plans to open 15-20 new stores, with one-third being direct stores and two-thirds being distributor stores [4] - HOUDINI aims to open nearly 20 new stores, primarily single-brand stores [4] - CRISPI will test small single-brand stores in Shanghai and Beijing, with potential for increased investment based on feasibility [4] Dealer Engagement - Dealer enthusiasm for opening stores is high, driven by the popularity of outdoor products and the experience of dealers in the outdoor sector [5] - Recent openings of X-BIONIC stores have received positive feedback from dealers [5] Competitive Strategy - The company will enhance brand exposure by focusing on the technological functions, professional quality, and brand characteristics of X-BIONIC products [6] - Strategies include improving retail store image, sponsoring outdoor sports events, and increasing media presence [7]