Financial Performance - Revenue increased from RMB 4,311.5 million to RMB 5,141.3 million, representing a growth of 19.2%[4] - Profit attributable to equity holders rose from RMB 703.6 million to RMB 789.7 million, an increase of 12.2%[5] - Gross profit margin decreased slightly to 41.3% from 41.7%, while operating profit margin fell to 20.6% from 23.0%[4] - Gross profit for the first half of 2024 was RMB 2,125.0 million, an 18.3% increase from RMB 1,796.5 million in the same period of 2023, with a slight decline in gross margin to 41.3%[105] - Operating profit increased to RMB 1,060,445 thousand, compared to RMB 992,781 thousand in the previous year, reflecting a growth of 6.8%[121] - Net profit for the period was RMB 821,709 thousand, a rise of 7.3% from RMB 766,245 thousand in the prior year[123] - Total revenue for the first half of 2024 reached RMB 5,141.3 million, a 19.2% increase compared to RMB 4,311.5 million in the same period of 2023[100] Asset and Liability Management - Non-current assets decreased by 17.3% to RMB 1,198.1 million, while current assets increased by 5.1% to RMB 12,206.8 million[6] - The debt ratio increased to 2.5% from 2.2%[6] - The company's total liabilities decreased to RMB 3,399,366 as of June 30, 2024, from RMB 3,088,042 as of December 31, 2023, reflecting a decrease of approximately 10.1%[124] - The company's total assets as of June 30, 2024, reached RMB 12,206,791, compared to RMB 11,617,332 as of December 31, 2023, indicating an increase of approximately 5.1%[124] Research and Development - The company plans to increase R&D activities in the second half of 2024, expecting a profit margin increase of 3% to 4%[5] - R&D expenses accounted for 2.8% of the group's total revenue, focusing on professional sports areas such as running and basketball[86] - The group has obtained 562 patents and has 857 technical personnel involved in product development, including 428 for footwear and 318 for apparel[89] Marketing and Brand Development - The company aims to enhance consumer recognition of its children's brand by increasing the proportion of professional sports products[17] - The company aims to deepen its brand positioning of "professionalization, youthfulness, and internationalization" in the second half of 2024[21] - The company aims to enhance its brand value through strategic sponsorships and a focus on consumer trends in marketing[41] - The company aims to strengthen its global influence by actively participating in international sports events and enhancing international cooperation[30] Sales and Distribution - The company declared an interim dividend of HKD 0.165 per share, equivalent to RMB 0.154, with a payout ratio of 40.3%[13] - During the 618 shopping festival, the company's e-commerce platform sales increased by 94% year-on-year, ranking third among domestic brands[20] - The company's online sales channel experienced a growth rate of 99%, leading the industry in year-on-year growth[20] - E-commerce business generated revenue of RMB 1,252.7 million, representing about 24.4% of total revenue, with a year-on-year growth of 16.1%[77] Operational Efficiency - Inventory turnover days improved to 82 days from 93 days, while trade receivables turnover days decreased slightly to 148 days[6] - The average inventory turnover period decreased to 85 days from 93 days in the previous year, indicating improved inventory management[120] - The average trade payables turnover period decreased by 21 days to 89 days, reflecting improved cash flow management[120] Market Trends and Consumer Behavior - The demand for sports apparel is evolving, with consumers increasingly valuing both functionality and fashion, leading to a blurred line between daily wear and sportswear[26] - There is a growing demand for high-end and professional sports equipment as consumer awareness of sports-related purchases matures[30] - The children's outdoor sports market is experiencing explosive growth due to increased parental demand for quality sports gear and diverse product needs[30] Corporate Governance and Compliance - The company maintained compliance with the corporate governance code during the six months ended June 30, 2024[191] - The audit committee has reviewed the unaudited interim financial statements for the six months ending June 30, 2024, and believes they comply with relevant accounting standards and regulations[200] Strategic Partnerships and Sponsorships - The company is a global gold partner for the Zhengkai Marathon in China from 2022 to 2024[52] - The company is the main sponsor for the Liverpool Half Marathon in the UK for 2023 to 2024[52] - The company has collaborated with the Asian Olympic Council and the World Swimming Federation as official partners[53] - The company has engaged several sports ambassadors with notable achievements in marathons, enhancing brand visibility[54][55][57]
361度(01361) - 2024 - 中期财报