XINGYE TECH.(SZ:002674)2025-08-29 03:54Group 1: Financial Performance - The company achieved a revenue of 1.339 billion yuan, representing a year-on-year growth of 6.16% [3] - The net profit attributable to shareholders was 31.2508 million yuan, a decline of 45.32% compared to the same period last year [3] Group 2: Domestic Market Conditions - Domestic consumer demand remains weak, leading to a decrease in the procurement needs of existing downstream customers for shoe and bag leather [4] - The company is actively adjusting sales channels and expanding into internet brand customers, resulting in growth for certain clients [4] Group 3: Overseas Market Expansion - The company entered the adidas supply chain in the first half of 2024, with revenue contributions remaining stable [4] - New partnerships with brands like ZARA have been established, and the company is expanding its overseas factories in Indonesia and Vietnam to meet local supply demands [4][5] - The gross margin for overseas products is higher than that of domestic sales, which is expected to enhance profitability as overseas sales increase [4] Group 4: Automotive Interior Leather Performance - The subsidiary, Hongxing Automotive Leather, achieved a revenue of 375 million yuan, a year-on-year increase of 26.95% [6] - The net profit for this segment was 7.65654 million yuan, reflecting a growth of 30.91% [6] - The company is collaborating with various automotive brands, including NIO and Jianghuai Automobile, to supply high-end interior leather products [6]