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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Bosideng International
Bosideng International (3998) investor relations material
Bosideng International H2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H2 25/26 earnings summary25 Jun, 2026
Executive summary
Revenue grew 5.6% year-over-year to RMB 27,350.0 million, with profit attributable to equity holders up 13.7% to RMB 3,994.4 million and operating profit up 6.6%.
Branded down apparels led growth, offsetting declines in OEM management, ladieswear, and diversified apparels.
Strategic focus on brand building, digital empowerment, and product innovation drove high-quality growth.
Gross margin slightly decreased to 57.2%, and the Board proposed a final dividend of HKD25.0 cents per share.
Financial highlights
Gross profit increased 5.5% to RMB 15,650.8 million; gross margin stable at 57.2%.
Operating profit rose 6.6% to RMB 5,294.4 million; operating margin improved by 0.2 ppt to 19.4%.
Net profit margin increased by 1.0 ppt to 14.6%.
Basic EPS up 9.5% to 34.57 RMB cents; full-year dividend per share up 11.8% to 31.3 HKD cents; diluted EPS at 34.23 RMB cents.
Maintained dividend payout ratio above 80% for five consecutive years.
Outlook and guidance
Plans to strengthen brand-led development, expand multi-brand matrix, and drive product innovation.
Focus on precise retail operations, channel management, and customer relationship consolidation.
OEM business to emphasize high quality, stable growth, and low risk, with enhanced ODM capabilities and digitalized operations.
Ladieswear to clarify brand positioning and optimize operational strategies for stable growth.
Focus remains on down apparel and technological, functional apparel, aiming for global leadership.
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Latest events from Bosideng International
- Profit and revenue rose on strong down apparel, with stable margins and digital, ESG advances.3998
H1 25/26 - Revenue and profit rose, led by down apparel and OEM, but gross margin declined.3998H2 24/25
- Revenue and profit surged on robust down apparel and OEM growth, offsetting ladieswear weakness.3998H1 24/25
- Revenue and profit surged, led by down apparel and online sales, with record margins and strong cash flow.3998H2 23/24
Next Bosideng International earnings date
H1 26/2726 Nov, 2026
Bosideng International
Next Bosideng International earnings date
H1 26/2726 Nov, 2026
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Frequently asked questions
Bosideng International Holdings Limited, established in 1975 and headquartered in Shanghai, China, is one of the largest down clothing companies in China. The company is primarily engaged in the research, design, development, procurement of raw materials, outsourced manufacturing, marketing, and distribution of branded down apparel, original equipment manufacturing (OEM) products, and non-down apparel products. Bosideng operates through three main segments: Down Apparel, OEM Management, and Non-down Apparel, offering a wide array of clothing targeting various consumer demographics. The company' apparel brands include Bosideng, Snow Flying, and Bengen, which have significantly contributed to its leadership position in the China market. Bosideng also owns ladieswear brands such as JESSIE, BUOU BUOU, KOREANO, and KLOVA, along with the school uniform brand Sameite. The company is headquartered in Shanghai, China, and its shares are listed on the Hong Kong Stock Exchange.