收入与净利润下滑符合预期，现金流充裕支撑高派息。受消费需求疲软及线下客流下滑影响，2025 财年收入同比下降6.6%至270.1 亿元。分商业模式看：零售渠道收入230.3 亿元，同比下降6.8%；批发渠道收入37.9 亿元，同比下降5.8%。分品牌看：主力品牌（耐克、阿迪达斯）收入233.1 亿元，同比下降6.1%；其他品牌收入35.0 亿元，同比下降9.9%。利润方面，因促销力度加大及负经营...
Source Link收入与净利润下滑符合预期，现金流充裕支撑高派息。受消费需求疲软及线下客流下滑影响，2025 财年收入同比下降6.6%至270.1 亿元。分商业模式看：零售渠道收入230.3 亿元，同比下降6.8%；批发渠道收入37.9 亿元，同比下降5.8%。分品牌看：主力品牌（耐克、阿迪达斯）收入233.1 亿元，同比下降6.1%；其他品牌收入35.0 亿元，同比下降9.9%。利润方面，因促销力度加大及负经营...
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