Youngor Fashion (600177) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was RMB 11.58 billion, down 18.37% year-over-year; net profit attributable to shareholders was RMB 2.45 billion, down 11.57%.

• Fashion segment revenue grew 9.33% year-over-year, but net profit dropped 77.75% due to higher costs and expenses.

• Real estate revenue and profit declined sharply; investment segment contributed most of the profit.

• Cash flow and asset quality remained stable; net assets attributable to shareholders increased 2.75% year-over-year.

• Major acquisition: completed 100% acquisition of Financière Bonpoint SAS, expanding into global luxury children's wear.

Financial highlights

• Operating income: RMB 11.58 billion, down 18.37% year-over-year.

• Net profit attributable to shareholders: RMB 2.45 billion, down 11.57% year-over-year.

• Operating cash flow: RMB 1.23 billion, down 20.17% year-over-year.

• Basic and diluted EPS: RMB 0.53, down 11.17% year-over-year.

• Gross margin for fashion segment: 67.37%, down 5.33 percentage points year-over-year.

• Dividend payout ratio: 81.54% of net profit.

Outlook and guidance

• 2026 focus: steady profit growth, brand strength, channel optimization, and digital transformation.

• Real estate: focus on inventory reduction and asset revitalization.

• Investment: accelerate exit from financial investments, seek new industry opportunities.