Summary by Moomoo AI
Xtep Int'l achieved a revenue growth of 10.4% in the first half of 2024, reaching RMB 7,203 million, with the gross margin increasing to 46.0%. The ordinary shareholders' net profit attributable to equity holders of the company increased by 13.0% year-on-year to RMB 752 million. During this period, Xtep announced the strategic sale of the K-SWISS and Palladin brands, focusing on developing high-profit brands, including the Xtep main brand, Saucony, and MBT. In addition, Xtep partnered with Tsinghua University to jointly build the China Children's Healthy Growth Database. In May 2024, the company received an "A" rating from MSCI ESG, highlighting its achievements in ESG practices. The board of directors declared a mid-term dividend of HK$0.156 per share, with a stock dividend option.