Xtep International Holdings Limited · HKEX:1368
Xtep International — H1 2026 Earnings Presentation
29 slides from Xtep International's earnings presentation, Aug 25, 2026
Slide 1: Xtep International Holdings Limited 2026 Interim Results Presentation
Xtep International Holdings Limited (Incorporated in the Cayman Islands with Limited Liability) Stock Code: 1368.HK 2026 Interim Results Presentation 25 August 2026
Slide 2: 2026 Interim Results Highlights
2026 Interim Results Group’s revenue RMB 6,795 m 0.6% Highlights Mass market Professional sports 1 RMB 5,920 m RMB 875 m Steady business with robust performance 2.2% 11.4% in the professional sports segment 46.4% 2 Group’s gross profit margin 1.4% pts Strong brand momentum with solid Net profit marg
Slide 3: Financial Review
Financial Review
Slide 4: Revenue - Steady Business with Robust Performance in the Professional Sports Segment
Revenue - Steady Business with Robust Performance in the Professional Sports Segment Mass market 12.9% 11.5% RMB 5,920 m Group’s revenue 2.2% RMB 6,795 m % of revenue 0.6% Professional sports RMB 875 m 88.5% 11.4% 87.1% 1H2025 1H2026 Mass market: E-commerce and kids business lead growth alongside ac
Slide 5: Gross Profit and Gross Profit Margin
Gross Profit and Gross Profit Margin Group’s gross profit Gross profit margin (%) RMB 3,155 m 56.8% 55.2% Professional 2.6% 55.5% sports Mass market: Enhanced gross profit 45.0% 46.4% Group 45.1% margin in the e-commerce and kids 45.1% Mass market 43.9% business with an increasing mix of 43.6% funct
Slide 6: Selling & Distribution and General & Administrative Expenses
Selling & Distribution and General & Administrative Expenses Expense ratio (%) 12.0% 0.6% pt A&P expenses as a % to revenue 12.6% Advertising and 12.6% Enhance operational efficiency 12.0% promotions (A&P) Prioritize sponsorships in premier marathons and running events Premiumization strategy of Sau
Slide 7: Operating Profit and Operating Profit Margin
Operating Profit and Operating Profit Margin Group’s adjusted operating profit1 Segment operating profit RMB 1,204 m Mass market Professional sports 6.2% RMB 1,120 m RMB 91 m 7.3% 15.5% Group’s adjusted operating profit margin1 Segment operating profit margin 18.8% 20.0% 18.6% 17.7% 20.6% 18.9% Mass
Slide 8: Net Profit and Shareholder Returns
Net Profit and Shareholder Returns Group’s net profit Group’s net profit margin RMB 818 m 11.8% 13.4% 12.0% 10.5% 1H2024 1H2025 1H2026 Interim dividend per Share Interim dividend payout ratio HK 18.0 cents 50.3% 50.0% 50.0% 50.0% 53.8% 1H2022 1H2023 1H2024 1H2025 1H2026 8
Slide 9: Working Capital Analysis
Working Capital Analysis1 Working capital turnover (day) 120 119 120 123 116 118 110 112 101 105 91 87 87 90 77 68 FY2024 1H2025 FY2025 1H2026 (31 Dec) (30 Jun) (31 Dec) (30 Jun) Overall working capital turnover Inventory turnover Trade receivables turnover Trade payables turnover 1 Remark: Turnover
Slide 10: Financial Position and Cash Flow
Financial Position and Cash Flow RMB m 30 Jun 2026 31 Dec 2025 Change Cash and cash equivalents (A) 3,449 3,457 0.2% Pledged bank deposits and term deposits (B) 786 681 15.4% Bank borrowings (C) 637 1,097 41.9% Convertible bonds (D) 1,272 1,334 4.7% Net cash and cash equivalents = (A)+(B)-(C)-(D) 2,
Slide 11: Business Review
Business Review
Slide 12: Group's Strategic Framework
Group’s Strategic Framework No. 1 running brand in China Mass market Premium market Continuous focus on running 12
Slide 13: Leverage Professional Expertise to Expand into the Mass Market
Leverage Professional Expertise to Expand into the Mass Market 160X 8.0 PRO No. 1 running brand in China LING YUN MAX No.1 overall wear rate in marathons Xiamen 45% 9% 54% Wuhan 34% 12% 46% Wuxi 30% 9% 39% 360X 3.0 FLY Chongqing 44% 7% 51% 160X 8.0 ULTRA Renshou 42% 7% 49% Feng Peiyou Broke national
Slide 14: Core Xtep Brand - E-commerce and Overseas Business Steer Growth Amid Continuous Channel Optimization
Core Xtep Brand - E-commerce and Overseas Business Steer Growth Amid Continuous Channel Optimization Channel optimization with smooth Image store in Johor Bahru, Malaysia DTC progress Number of stores in Chinese Mainland and overseas 6,308 E-commerce drives growth Overseas revenue doubled with rapid
Slide 15: X Young - Sports Science to Support Height Development
X Young - Sports Science to Support Height Development “Growth Store” drives differentiated Li Yongqiu New “Xtep A+ Growth Sneaker” X Young spokesperson experience and store productivity Champion of the junior category at the “Juste Debout” Finals in Paris X Young achieved steady growth Precise posi
Slide 16: Saucony - Elevate a Century-Old Running Heritage Through Brand Premiumization
Saucony - Elevate a Century-Old Running Heritage Through Brand Premiumization Focus on premium marketing campaigns Hood to Coast Relay Empower diverse elite lifestyles Expand apparel and lifestyle offerings TRIUMPH 24 KINVARA 1 1898 series Focus on running Improve flagship product discounting 16 Exc
Slide 17: Saucony - Prioritize Premium Channels to Solidify Brand Momentum
Saucony - Prioritize Premium Channels to Solidify Brand Momentum Image store at West Bund Central in Shanghai Image store at K11 Art Mall in Hong Kong Number of Stores in China Focus on prime locations in high-tier cities with image and flagship stores 180 17
Slide 18: Merrell - Professional Outdoor Sports Brand
Merrell - Professional Outdoor Sports Brand Leverage e-commerce to achieve high-quality growth Trail running Hiking MOAB 3 “VAST SKY” trail Outdoor lifestyle running shoe Prioritize core product line for hiking lifestyle 18
Slide 19: Sustainability - Key Achievements in 1H2026
Sustainability - Key Achievements in 1H2026 Authoritative MSCI ESG S&P ESG score ratings “A” rating Outperformed over 84% of textile peers Protect the planet Sustainable value chain Put people first Upper made from Published the Female in Marathon and recycled PET plastic bottles Sustainable Chemica
Slide 20: Prospects
Prospects 20
Slide 21: Prospects
Prospects Reinforce running position to achieve A century-old running heritage achieving long-term “professional-to-mass influence” strategy high-quality growth Leverage flagship products to accelerate Drive brand premiumization through marketing, mass market penetration and enhance product, and cha
Slide 22: Appendix
Appendix
Slide 23: Consolidated Income Statement
Consolidated Income Statement RMB m 1H2026 1H2025 YoY change Revenue 6,795 6,838 0.6% Gross profit 3,155 3,074 2.6% Selling & distribution and general & administrative (2,323) (2,123) 9.5% expenses (“SG&A”) Adjusted operating profit1 1,204 1,284 6.2% Operating profit 1,161 1,305 11.0% Profit attribu
Slide 24: Group's Revenue and Gross Profit Analysis
Group’s Revenue and Gross Profit Analysis Revenue by product1 (RMB m) Gross profit margin by product (%) YoY change 6,838 6,795 -0.6% 1H2026 1H2025 YoY change 6,382 5,774 5,054 Footwear 48.7% 46.5% 2.2% pts 60.8% 62.9% +2.8% 61.3% 56.8% 55.1% Apparel 43.0% 42.9% 0.1% pt 41.0% 36.5% 37.3% 35.3% -5.9%
Slide 25: Cash Flow Analysis (RMB m)
Cash Flow Analysis (RMB m) 191 847 -22 -296 3,457 -454 3,449 -192 -82 Cash and cash Net operating Purchase Pledged Term Bank Dividends Other Cash and cash equivalents cash inflow of PPE bank deposits borrowings paid movements equivalents (31 Dec 25) deposits (30 Jun 26) 25
Slide 26: Core Xtep Brand – Mainstream Performance Products
Core Xtep Brand – Mainstream Performance Products 精英系列 Elite series Professional series Mass market series RMB RMB RMB RMB RMB RMB 1,700 900 800 500 500 200 160X 8.0 ULTRA 260X 3.0 360X 3.0 LITE RMB1,699 RMB799 RMB499 160X 7.0 MONXTER XTEP 100 3.0PRO 2000 KM RMB1,699 RMB799 RMB499 160X 8.0 PRO LING
Slide 27: Saucony – Comprehensive Collection
Saucony – Comprehensive Collection Running series Commuter series Lifestyle series Propulsion Rebound Cushion Stability Commuter Lifestyle RMB RMB RMB RMB RMB RMB 2,090 790 1,490 950 990 690 ENDORPHIN ELITE 3 ENDORPHIN SPEED 5 TRIUMPH 24 HURRICANE 25 TRIUMPH LFS PRM WHITE PRM PEREGRINE 16 SHIFT KINV
Slide 28: Group's Production Capacity Allocation
Group’s Production Capacity Allocation Footwear Apparel 9% 32% 91% 68% In-house In-house Outsourced Outsourced 28
Slide 29: Disclaimer
Disclaimer This presentation is prepared by Xtep International Holdings Limited (the “Company”) and is solely for the purpose of corporate communication and general reference only. The presentation is not intended as an offer to sell, or to solicit an offer to buy or form any basis of investment dec
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