Financial performance
- Revenue increased by 8.0 % year on year to RMB6,159.8 million
- Gross profit increased by 8.7% year on year to RMB2,572.9 million; Gross profit margin increased by 0.3 percentage points to 41.8%
- Profit attributable to equity holders increased by 8.0% year on year to RMB925.9 million
- Net cash (including bank deposits, cash and cash equivalents) amounted to RMB4,728.8 million
Operationalhighlights
- 361° Super Premium Store (超品店) format continued to expand. A total of 187 stores launched nationwide, comprising 152 stores for core brand and 35 stores for kids. With an additional store in Cambodia, the total store count reached 188.
- The forerunner of "1+6" new retail omnichannel operating model. 361° entered into a strategic partnership with "JD Instant Delivery" (京東秒送), marking the full implementation of its instant retail strategy, under which offline physical store simultaneously operates across six online channels.
- The e-commerce business remained committed to a differentiated exclusive-product strategy. Capitalising on emerging consumer trends in sports such as tennis, badminton, and pickleball, it achieved simultaneous growth in both revenue and operational profitability.
- As the official partner of the Asian Games for five consecutive editions, 361° unveiled the official sportswear for the torchbearers of the Asian Games Aichi-Nagoya. The "Flying Flame 5" (飛燃5) Tokyo-exclusive coloured edition running shoes made their debut at the Tokyo Marathon Expo, where running brand ambassador GUAN Yousheng (管油勝) achieved outstanding results; and the Company served as the Honorary Partner of the Qingdao Marathon for the third consecutive year.
- 361° partnered with its global brand ambassador Nikola JOKIĆ to launch the second-generation signature basketball shoes, the "JOKER2 GT", and launched the flagship guard shoes, "BIG3 7.0 PRO".
- 361° Kids continuously expanded its product portfolio and event resource deployment. By aligning its efforts closely with the development characteristics of adolescents, the demands of sport-specific training, and the needs of campus physical fitness tests, the brand launched technology-driven products, including the "Flying Dagger-axe" (飛戈), the "Swift Leaping" (靈躍), the "Wind Hunter" (獵風), and the "Feiyan" (飛燕).
Financial Highlights
| |
For the six months ended 30 June |
Change |
||
| |
2026 |
2025 |
||
| Profitability Data (RMB million) |
|
|
|
|
| Revenue |
6,159.8 |
5,704.8 |
+8.0% |
|
| Gross profit |
2,572.9 |
2,366.5 |
+8.7% |
|
| Operating profit |
1,200.9 |
1,137.3 |
+5.6% |
|
| Profit attributable to equity holders |
925.9 |
857.7 |
+8.0% |
|
| Basic EPS (RMB cents) |
44.4 |
41.5 |
+7.0% |
|
| |
|
|
|
|
| Profitability ratios (%) |
|
|
|
|
| Gross profit margin |
41.8 |
41.5 |
+0.3 p.p. |
|
| Margin of profit attributable to equity holders |
15.0 |
15.0 |
— |
|
| |
|
|
|
|
| Dividend |
|
|
|
|
| Proposed interim dividend per share (HK cents) |
22.2 |
20.4 |
+8.8% |
|
| Dividend payout ratio (%) |
45.0 |
45.0 |
— |
|
Financial Analysis
During the period under review, the Group's total revenue increased by 8.0% to RMB6,159.8 million. Sales of the Group's two core products, namely footwears and apparels, grew by 7.0% year on year to RMB3,517.4 million and 10.0% year on year to RMB2,336.6 million, respectively. The sales of footwear products accounted for 57.1% of the Group's total revenue while apparel sales accounted for 37.9%. Revenue from 361° Kids remained a steady growth, with footwear and apparel revenue rising 11.7% and 0.5% year on year, accounting for 12.9% and 8.5% of the Group's total revenue, respectively. In addition, revenue from the sales of web-exclusive products at the e-commerce business increased by 9.5% year on year to RMB1,989.0 million, accounting for 32.3% of the Group's total revenue.
The gross profit during the period under review was RMB2,572.9 million, representing a year-on-year increase of 8.7%. Gross profit margin increased by 0.3 percentage points year on year to 41.8%. Profit attributable to equity holders increased by 8.0% year on year to RMB925.9 million, equivalent to earnings per share of RMB44.4 cents.
As at 30 June 2026, net cash (including bank deposits, cash and cash equivalents) amounted to RMB4,728.8 million (31 December 2025: RMB3,804.0 million). Trade and bills receivable turnover days maintained at 149 days. Inventory turnover days dropped from 117 days as at the end of 2025 to 102 days.
In recognition of the shareholders' trust and support for the Group, the Board has resolved to declare an interim dividend of HK22.2 cents per ordinary share for the period under review, representing a dividend payout ratio of 45%.
Operation review
Omnichannel Upgrading and Deeper Global Expansion
361° advances its omnichannel integration throughout its online and offline platforms. Through initiatives such as retail scenario innovation and global market expansion, the Group continues to enhance its market share and retail operational efficiency.
As of 30 June 2026, the Group had a total of 5,076 361° branded stores in the Chinese mainland. During the period under review, the Group continued to optimise its store channel structure, resulting in robust growth in retail sales. In addition, Super Premium Store format continued to expand. A total of 187 stores launched nationwide, comprising 152 stores for core brand and 35 stores for kids. With an additional store in Cambodia, the total store count reached 188.
In terms of retail scenario innovation, as the forerunner of "1+6" new retail omnichannel operating model, 361° is one of the earliest sports brands to conduct full systematic integration of multi-platform omnichannel operations. In February 2026, 361° entered into a strategic partnership with "JD Instant Delivery", marking the full implementation of its instant retail strategy, under which a single offline physical store simultaneously operates across six online channels.
In terms of international business, as at 30 June 2026, the Group had 1,167 offline points-of-sales (POSs) in the overseas market (excluding the Chinese mainland), covering regions such as the Americas, Europe, and regions alongside the Belt and Road Initiative, while actively expanding into global markets through cross-border e-commerce platforms and standalone sites. Overseas retail sales achieved a year-on-year increase of over 80% and overseas cross-border e-commerce sales marked a year-on-year increase of over 140%, demonstrating significant effectiveness of the Group's internationalisation efforts.
In terms of e-commerce business, the Group remained committed to a differentiated exclusive-product strategy. Capitalising on emerging consumer trends in sports such as tennis, badminton, and pickleball, it achieved simultaneous growth in both revenue and operational profitability. In addition, ONEWAY, a Finnish professional outdoor brand, achieved a breakthrough in the Greater China market, with multiple outdoor products receiving positive market feedback.
Empowering the Event Ecosystem, Strengthening the Brand's Professional Competitiveness
361° adheres to a two-way synergy between top-tier international event partnerships and proprietary event operations, building a professional, normalised, and internationalised brand event ecosystem. Event partnership has become a core resource in the Group's international brand strategy. As the official partner of the Asian Games for five consecutive editions, the Group unveiled the official sportswear for the torchbearers of the Asian Games Aichi-Nagoya during the period under review. The "Flying Flame 5" (飛燃5) Tokyo-exclusive coloured edition running shoes made their debut at the Tokyo Marathon Expo, and the Company served as the Honorary Partner of the Qingdao Marathon for the third consecutive year. 361° continues to enrich its brand sports‑event portfolio. Coupled with the on-court endorsement and empowerment from its international ambassador lineup, these initiatives have collectively demonstrated the technological strength and professional pursuit embodied in its products.
In terms of proprietary event operations, the Group continues to iterate and upgrade its mass-participation event system, regularly operating its own events such as the "3# Track" (三號賽道), "Light Up" (觸地即燃), "Women's Fitness Gym" (女子健身局), and the "SWING AS ONE" (一拍即合) Badminton City Tournament, broadening the brand's reach in the mass sports arena.
Dual-Track Synergy to Build a Differentiated Product Portfolio
Guided by the development strategy of "technology-driven, brand-first", the Group continues to strengthen its foothold in core segments such as running and basketball, while positioning itself in emerging segments including trail running, women's sports, and racquet sports, seizing growth opportunities through agile deployment.
As to running category, 361° continues to solidify the international positioning of its running products. At the Tokyo Marathon, the Group's running brand ambassador GUAN Yousheng (管油勝) secured second place among all Chinese male participants, fully validating its product iteration capabilities in professional racing footwear. In the trail running segment, the "Peak Pierce V1" (淩刺V1) and "Peak Pierce V2" (淩刺V2) were launched, receiving widespread recognition from professional runners. Additionally, the "Titan 4CQT" (泰坦4CQT) running shoes were specifically designed for HYROX comprehensive fitness training, bridging the product gap between road running and comprehensive training. As to basketball category, 361° partnered with its global brand ambassador Nikola JOKIĆ to launch the second-generation signature basketball shoes, the "JOKER2 GT". The flagship guard shoes, "BIG3 7.0 PRO", made their debut at the Drew League in the United States, completing overseas on-court validation.
The Group is also expanding into emerging segments, launching the "Wenqing" (穩擎) all-round hard-court tennis shoes, the "Match Point" (賽點) professional pickleball shoes, and the "Victory PRO V2" (制勝PRO V2) professional badminton shoes tailored for the professional needs of different sports scenarios. In women's sports, the Group continued to operate the "Women's Fitness Gym" (女子健身局) community and launched the "I Am Colourful" (我自多彩) thematic campaign, building a women's sports ecosystem from products to experiences through integrated online-offline marketing. The deployment in emerging segments not only drives business growth in the short term but also builds differentiated competitive advantages for the long term.
Strengthening Professional Resources and Product Technology to Consolidatethe "Youth Sports Expert" Positioning
During the period under review, 361° Kids continued to consolidate its first-mover advantage in the kids' sportswear market, maintaining steady growth. As of 30 June 2026, the number of 361° Kids POSs reached 2,202 in the Chinese mainland, anchored by fifth-generation stores and Super Premium Stores, forming a modern, multi-dimensional terminal channel system.
Professional event resource deployment continued to break new ground. 361° Kids is a strategic partner of the International Jump Rope Union, the exclusive title sponsor of the 2026 Asian Rope Skipping Championship and the 2027 World Jump Rope Championships, and has served as the official partner of the China National Rope Skipping Team for a long time. At the same time, the brand deepened its footprint in football and basketball by partnering with "Beijing Guoan Junior Training" (北京國安少訓) and the "China Football Development Foundation" (中國足球發展基金會), and signed three young basketball players as brand ambassadors. During the period under review, the fifth "National Rope Skipping Competition" (第五屆全國跳繩大賽), the "Light Up-Junior Basketball Game" (觸地即燃少年賽), the "361° Football Champions Cup" (361°足球冠軍杯), and a series of other events were regularly held across multiple cities nationwide, contributing to the steady expansion of the 361° Kids' business. In terms of product research and development, 361° aligned its efforts closely with the development characteristics of adolescents, the demands of sport-specific training, and the needs of campus physical fitness tests. It launched technology-driven products, including the "Flying Dagger-axe" (飛戈), the "Swift Leaping" (靈躍), the "Wind Hunter" (獵風), and the "Feiyan" (飛燕), continuously broadening its target audience and application scenarios.
Prospect
Looking ahead to the second half of this year, the 361° Group will reinforce its brand positioning as "professional, youthful, and internationalised", focus on technological innovation and brand building, accelerate penetration into segmented scenarios, and build a high-value, multicategory sports product ecosystem. The Group will steadily advance the execution of its strategic initiatives, continue to cultivate high-potential emerging markets globally, create long-term value for shareholders, and contribute to the high-quality development of China's sports industry.
Hashtag: #361Degrees #361Sportswear #InterimResults
http://www.361sport.com
The issuer is solely responsible for the content of this announcement.
About 361 Degrees International Limited
Established in 2003, 361° is one of the leading comprehensive sportswear enterprises in China. 361° owns a full industrial chain business covering product research and innovation, manufacturing, merchandise distribution and marketing, positioning for the mass market. Upholding the brand spirit of "ONE DEGREE BEYOND", 361° continues to strengthen its brand positioning of "professional, youthful, and internationalised", 361° is dedicated to becoming a globally respected sports brand, providing consumers with high-value, mass-market professional sports products, while inspiring everyone to love sports. 361° is dedicated to professional sporting, offering a wide range of high-quality products including running, basketball and sports life, catering comprehensively to the diverse needs of consumer groups. 361° Kids is positioned as a "Youth Sports Expert", with differentiated competitive advantages of professional functionality, health technology, playfulness and trendy elements to better meet the needs of various sports and life for children and adolescents.
361° is committed to promoting the development of sports in China and around the world. It is the first Chinese sports brand to sponsor the Olympic Games and has sponsored the Asian Games for five consecutive editions. As an official partner of the Olympic Council of Asia, the Asian Games Aichi-Nagoya 2026, and the official sportswear supplier for World Aquatics, 361° continues to integrate international sports resources, strengthening its influence in the professional sports sector.
361° has signed contracts with well-known athletes in professional fields, including international basketball superstars Nikola JOKIĆ, Aaron GORDON, Marathon star runners LI Zicheng, GUAN Yousheng and LIU Wenqing. In addition, 361° expands its presence in the sports lifestyle sector, signing prominent athletes such as swimmer SUN Yang and gymnast ZHANG Doudou, as well as young actor AO Ruipeng, enhancing its visibility and influence among younger consumer groups.
Currently, 361° operates a multi‑tiered, omni‑channel‑penetrating sales network across major cities in Chinese mainland. Meanwhile, 361° has established a strong offline retail presence in the overseas market (excluding Chinese mainland), covering regions such as the Americas, Europe, and regions alongside the "Belt and Road Initiative", and has rolled out its overseas e-commerce platforms.
361° is included in the Hang Seng Composite Index series, as well as the Stock Connect programs between Hong Kong and Shanghai, and between Hong Kong and Shenzhen. For more details, please refer to its website: www.361sport.com.
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