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Pou Sheng International (3813) investor relations material
Pou Sheng International Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the six months ended June 30, 2026 was RMB8,965 million, down 2.1% year-over-year, with gross profit margin improving by 0.4 percentage points to 33.9%.
Operating profit rose 23.6% year-over-year to RMB348 million, with operating margin up 0.8 percentage points to 3.9%.
Net profit attributable to owners increased 29.9% year-over-year to RMB243.7 million, with net profit margin rising to 2.7%.
Interim and special dividends declared at HK$0.016 per share each, totaling HK$0.032 per share, a 60% payout ratio.
Enhanced profitability driven by inventory optimisation, discount control, and restructuring synergies.
Financial highlights
Gross profit margin improved to 33.9% in 1H 2026 from 33.5% in 1H 2025.
Net cash from operating activities was RMB945.1 million, up from RMB399.3 million year-over-year.
Cash and cash equivalents rose 107.7% to RMB1,330.3 million as of June 30, 2026.
Free cash flow for 1H 2026 was RMB848.8 million.
Capital expenditure for 1H 2026 was RMB96.3 million, down 19.3% year-over-year.
Outlook and guidance
Focus on value-added services, quality customer experiences, and deepening strategic partnerships.
Continued digital transformation, omni-channel integration, and investment in SAP and AI to drive sales and operational efficiency.
Plans to expand in segmented and lower-tier markets, enhance channel mix, and accelerate digital initiatives.
Ongoing efforts to streamline operations and enhance cost competitiveness for improved profitability.
Sportswear market in Greater China expected to grow, supported by major sporting events and government policy.
- Profit surged as revenue grew, but lower-margin channels cut gross margin.3813
Q4 2023 - Net profit attributable to owners rose 32.5% year-over-year on improved margins and efficiency.3813
Q1 2026 - Net profit fell 57% as revenue declined, but digital and livestreaming sales grew strongly.3813
Q4 2025 - Net profit fell 50.1% as digital sales hit 33% and margins contracted amid weak demand.3813
Q3 2025 - Revenue and profit fell sharply, but omni-channel sales and net cash position stayed strong.3813
Q2 2025 - Profit rose 10.4% despite a 9.5% revenue drop, driven by margin gains and digital growth.3813
Q3 2024 - Profit rose 9.9% despite revenue drop, with higher margins and strong cash position.3813
Q2 2024 - Digital sales hit 32% as revenue and profit fell in a volatile, competitive market.3813
Q1 2025 - Profit held steady as revenue fell, with digital sales and margins improving.3813
Q4 2024
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