On August 18, XTEP INT'L disclosed its interim results for 2025. During the reporting period, the group's revenue from continuing operations reached 6.838 billion yuan, representing a 7.1% year-over-year increase. Net profit attributable to ordinary shareholders reached 914 million yuan, up 21.5% year-over-year.

"With continued policy support for the sports industry and rising participation rates in sports activities, we will consolidate our position in the running sector and focus on leveraging synergies between our main XTEP brand, Saucony, and Merrell to enhance the group's market share," stated Ding Shuibo, Chairman and CEO of XTEP.

According to the financial report, revenue from the XTEP main brand increased 4.5% year-over-year to 6.053 billion yuan during the reporting period. E-commerce operations served as the primary growth driver for the group, accounting for over 30% of the main brand's revenue. XTEP developed personalized strategies for each online channel based on data-driven analysis to precisely target customer segments, maximize conversion rates, and enhance customer engagement. Through these platform-specific initiatives, e-commerce revenue achieved double-digit year-over-year growth.

During the reporting period, XTEP's research and development costs totaled 190 million yuan, up 20.25% year-over-year, accounting for 2.8% of total group revenue, an increase from the previous year's 2.5%.

Zhou Ting, Dean of VIP Research Institute and luxury goods research expert, noted that XTEP's focus on professional running through specialized product technology development, active participation in professional competitions, and deep collaboration with professional athletes has established strong influence within professional circles. The company then leverages diversified communication channels and marketing strategies to transmit the positive reputation and brand advantages accumulated in professional fields to mass consumers. From practical results, this approach has proven to be correct and effective.

In the first half, the professional sports division comprising Saucony and Merrell generated revenue of 785 million yuan, up 32.5% year-over-year, accounting for 11.5% of total group revenue. This division's profitability improved significantly, with operating profit reaching 79 million yuan, up 236.8% year-over-year.

Saucony, positioned as a comprehensive running shoe specialist covering professional running shoes, retro lifestyle running shoes, and commuter lifestyle categories, continues to serve as XTEP's second growth curve. In China's key marathon events, Saucony running shoes maintain the highest wearing rate among international brands, holding a dominant position. Merrell focuses on e-commerce and three core product lines: trail running, hiking, and canyoning, continuously improving product performance, comfort, and durability through innovative technology.

China Galaxy Securities research shows that XTEP focuses on a diversified brand matrix of "mass sports + professional sports," with its brands covering different sports sectors and consumer groups. The main XTEP brand targets the mass sports market, while Saucony and Merrell focus on professional sports sectors. With this diversified and highly competitive brand portfolio, the company occupies an important position in the market.