Ridge Outdoor International (2720) H2 2025 earnings summary

Executive summary

• FY2025 revenue rose 15.5% YoY to RMB662.5m; gross profit increased 22.0% to RMB186.2m and profit rose 24.4% to RMB73.9m.

• Gross margin expanded 1.5 percentage points to 28.1%, supported by higher-value products, a greater brand-business mix, favorable iron prices and production efficiencies.

Financial highlights

• Revenue was RMB662.471m versus RMB573.463m; cost of sales grew 13.2% to RMB476.270m, below revenue growth.

• Operating profit was RMB103.157m versus RMB79.827m; profit before tax was RMB98.009m versus RMB79.005m.

• Net profit was RMB73.871m versus RMB59.405m; basic and diluted EPS was RMB0.74 versus RMB0.56.

• Selling and distribution expenses rose 36.1% to RMB23.0m, R&D costs rose 50.2% to RMB5.3m, and finance costs increased to RMB5.1m from RMB0.8m.

Outlook and guidance

• 2026 priorities include developing full-category fishing products, integrating technology, expanding own-brand operations and tailoring domestic brands to local user preferences.

• Long-term goal is a multi-brand sales model by 2030, with products spanning categories, fishing techniques and price tiers.