中金发布研究报告称，公司1HFY25收入同增18%至88亿元，归母净利润同增23%至11亿元，业绩好于该行预期，主要得益于品牌羽绒服业务的良好增长。报告中称，公司羽绒服业务继续达成健康增长。品牌羽绒服业务1HFY25收入同增23%至61亿元，其中自营收入同增37%至23亿元，批发收入同增13%至34亿元。公司聚焦渠道质量优化，持续扩大打造Top店体系，做实单店运营，期内净关店29家至3,188家。线上业务发力核心品类、精细化运营，收入同增24%至14亿元。Bosideng (03998) rose over 3% in the morning session. As of the time of this report, it has increased by 3.33%, trading at 4.35 Hong Kong dollars, with a transaction volume of 17.5542 million Hong Kong dollars.
According to Zhitong Finance APP, Bosideng (03998) rose over 3% in the morning session. As of the time of this report, it has increased by 3.33%, trading at 4.35 Hong Kong dollars, with a transaction volume of 17.5542 million Hong Kong dollars.
On the news front, on the evening of November 28, Bosideng (03998) disclosed its interim performance for the fiscal year 2024/25. As of September 30, 2024, the company achieved revenue of 8.804 billion yuan, a year-on-year increase of 17.8%; net income reached 1.13 billion yuan, a year-on-year increase of 23%, setting a new historical high for the same period. In terms of core business, Bosideng's main operations grew steadily, with the brand's down jacket revenue at 6.063 billion yuan, a year-on-year increase of 22.7%; revenue from OEM processing management was 2.319 billion yuan, a year-on-year increase of 13.4%; and diversified outfits revenue was 0.117 billion yuan, a year-on-year increase of 21.3%.
CICC released a research report stating that the company's revenue for the first half of FY25 increased by 18% to 8.8 billion yuan, and the net income attributable to the parent company increased by 23% to 1.1 billion yuan, outperforming the bank's expectations, mainly due to the good growth of the brand's down jacket business. The report stated that the company's down jacket business continues to achieve healthy growth. The brand's down jacket revenue for the first half of FY25 increased by 23% to 6.1 billion yuan, with self-operated revenue rising by 37% to 2.3 billion yuan, and wholesale revenue increasing by 13% to 3.4 billion yuan. The company focuses on optimizing channel quality, continuously expands the Top store system, and solidifies single-store operations, closing 29 stores during the period, resulting in a total of 3,188 stores. Online operations intensified in core categories, and refined operations led to a revenue increase of 24% to 1.4 billion yuan.
