The company has released its annual results for the period ending March 31, 2026. Revenue increased by 5.6% year-on-year to approximately 27.35 billion yuan. Operating profit rose by 6.6% to about 5.294 billion yuan. Profit attributable to equity shareholders of the company grew by 13.7% to roughly 3.994 billion yuan. Basic earnings per share were 34.57 cents. A final dividend of 25.0 HK cents per share is proposed.

The group's primary business segments are branded down apparel, OEM processing management, women's wear, and diversified apparel. During the 2025/26 fiscal year, these core segments achieved stable and high-quality growth. The branded down apparel business remained the group's largest revenue source, contributing approximately 23.56 billion yuan, which represents 86.2% of total revenue and marks an 8.7% increase year-on-year. Within this segment, revenue from the BOSIDENG brand itself rose by 6.9% to about 19.752 billion yuan.

Strategic Channel Development and Optimization

Throughout the fiscal year, the group continued to enhance channel quality and operational efficiency. The strategy involved three key initiatives. First, the company expanded its presence in high-potential flagship stores, securing locations in premium nationwide projects to create distinctive stores that embody the BOSIDENG brand identity.

Second, the group opened several large-format brand image stores while simultaneously strengthening and expanding its top-tier store network. This effort included redefining channel classification standards and establishing a clustered store operation model. By tailoring store design and strategy to the unique needs of different customer groups, the company aims to better communicate its brand story.

Third, focusing on strengthening individual store performance, the group developed a refined operational system categorized by store type, based on customer segmentation. This approach is designed to improve both profitability and operational efficiency.

Retail Network Expansion

As of March 31, 2026, the total number of regular retail outlets for the group's down apparel business, excluding seasonal pop-up stores, saw a net increase of 177 from the end of the prior fiscal year, reaching 3,647. Self-operated retail outlets increased by a net 41 to 1,277, while retail outlets operated by third-party distributors increased by a net 136 to 2,370.

Self-operated and distributor-operated outlets accounted for 35.0% and 65.0% of the total retail network, respectively. Of the total retail outlets for the branded down apparel business, approximately 32.8% are located in tier-one and tier-two cities, which include Beijing, Shanghai, Guangzhou, Shenzhen, and provincial capitals. The remaining 67.2% are situated in tier-three cities and below.