Group 1: Financial Performance - The improvement in Q2 2025 profit margin is primarily due to the narrowing losses in non-apparel business and an increase in apparel business profit margin [2] - Non-apparel business has been undergoing inventory clearance since last year, leading to a gradual reduction in losses [2] - Apparel profit margin increased due to price hikes on certain products and reduced promotional expenses [2] Group 2: Pricing Strategy - Product price adjustments will be flexibly determined based on the competitive environment of each category [3] - The core logic of the pricing strategy remains to balance market competition, considering competitor pricing, market position, and inventory levels [3] Group 3: Brand Performance - Men's apparel brand growth has slowed due to last year's significant segmentation and marketing efforts, requiring time for deep cultivation [4] - Other brands have met the company's growth expectations, maintaining a stable operational rhythm [4] Group 4: Inventory Management - The company plans to adopt a cautious inventory strategy this year, controlling stock within reasonable limits due to uncertainties in tariff policies [7] - Last year's high inventory levels were a result of aggressive new product launches and marketing campaigns [7] Group 5: Non-Apparel Business - The company is reducing investment in non-apparel categories that do not show significant growth potential, focusing on core objectives [8][9] - Some non-apparel categories have maintained good profit margins but lack the scale for competitive advantage [9] Group 6: Ebike Category - The ebike category is currently experiencing significant losses, and the company plans to limit new resource investments while optimizing internal operations [10] Group 7: Supply Chain Strategy - The company has established a robust supply chain in Southeast Asia, allowing for quick order transfers to ensure stability [11] - Current focus is on optimizing local production processes and maintaining communication with external suppliers for potential extreme situations [11]
赛维时代(301381) - 301381赛维时代投资者关系管理信息20250829