0705 ET（北京时间）——On Holding（ONON）未能达到收入预期，主要受到远超预期的外汇冲击以及批发业务疲软的影响。威廉·布莱尔（William Blair）分析师在研究报告中指出，整体毛利率虽然表现亮眼，成为财报中的一抹亮色，但销售额的下滑，叠加费用增长，最终传导至利润端，拖累了整体盈利表现。
分析师们进一步表示：“管理层实际上已经下调了销售指引——从此前的按固定汇率计算增长23%降至低20%区间——同时将毛利率预期上调了50个基点，但维持调整后的EBITDA利润率预期不变。” 他们补充道，鉴于公司的可见度有限，On的季度业绩往往难以提前预测。
“On Holding依然证明，它是一只围绕财报期难以把握的股票。” 分析师写道。受此消息影响，On Holding盘前交易大跌16%。
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