Youngor Fashion (600177) Q3 2026 earnings summary

Executive summary

• 9M revenue was ¥7.158bn, up 5.62% YoY; attributable net income reached ¥3.081bn, up 31.17%, with investment business a major earnings driver.

• Q3 revenue was ¥2.010bn, up 20.63% YoY; attributable net income was ¥958.2m, up 51.12%, and adjusted net income was ¥956.8m, up 70.80%.

Financial highlights

• 9M profit before tax was ¥3.154bn, up 27.38% YoY; net income was ¥3.078bn versus ¥2.334bn a year earlier.

• 9M adjusted attributable net income was ¥3.018bn, up 34.77%; non-recurring gains net of tax and minority interests totaled ¥63.7m.

• Basic and diluted EPS were both ¥0.67 for 9M, up 32.46% YoY; Q3 EPS was ¥0.21, up 54.88%.

• 9M operating cash flow was ¥605.9m, down 9.30% YoY; cash and cash equivalents ended at ¥6.372bn.

Segment performance

• Fashion 9M revenue was ¥5.223bn, up 3.68%; attributable net income was ¥145.6m, down 29.91%. Brand apparel revenue was ¥4.424bn, down 0.06%, with a 70.69% gross margin, up 0.25 pp.

• Within apparel, tops revenue rose 14.62% YoY; shirts and suits fell 13.71% and 14.45%, respectively. Direct-operated stores totaled 1,903, spanning 571,400 sqm.

• Real estate recognized revenue of ¥1.916bn, up 10.62%, while attributable net income fell 80.98% to ¥22.3m; presale value declined 48.50%.

• Investment business income was ¥3.035bn, up 22.12%; equity-method income from long-term investments was ¥2.497bn, and dividends from CITIC and Gree Electric were ¥520.3m.

• Investment business attributable net income was ¥2.913bn, up 43.93%; Q3 investment-business profit before tax and attributable net income rose 73.11% and 73.20%, respectively.