Earnings release
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Hong Kong Exchanges and Clearing Limited and The Stock Excha nge of Hong Kong Limited take no responsibility for the contents of this announcemen t, make no representation as to its accuracy or completeness, and expressly disclaim any li ability whatsoever for any loss howsoever arising from or in reliance upon the whole or any pa rt of the contents of this announcement. (Incorporated in the Cayman Islands with limited liability ) (Stock Code: 1361) OPERATIONS UPDATE FOR THE FIRST QUARTER OF 2025 This announcement is published on a voluntary basis by the bo ard (the ‘‘Board ’’) of directors (the ‘‘Directors ’’) of 361 Degrees International Limited ( ‘‘361° ’’ or the ‘‘Company ’’, which together with its subsidiaries, is referred to as the ‘‘Group ’’). The Board would like to provide the following operational up date in respect of the Group ’s business for the first quarter of 2025. Retail Sales Performance of the 361° Core Brand (offline channels) The retail sales (in terms of the retail value) of 361° core branded products for the first quarter of 2025 recorded approximately 10% –15% growth compared to the same period of 2024. Retail Sales Performance of the 361° Kids Brand (offline channels) The retail sales (in terms of the retail value) of 361° kids branded products for the first quarter of 2025 recorded 10% –15% growth compared to the same period of 2024. Retail Sales Performance of the 361° E-commerce Platform The overall retail sales of 361° E-commerce products for the first quarter of 2025 recorded 35%–40% growth compared to the same period of 2024. – 1 –
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Business Update for the First Quarter In the first quarter of 2025, 361° leveraged its extensive market insights to maintain a stron g focus on the mass professional sports sector, advancing its strategy of ‘‘empowering product innovation and upgrades through technology ’’by integrating technological advancements with fashion trends. In the running segment, the upgraded ‘‘SPIRE FLOAT 2 ’’(速湃FLOAT 2) and ‘‘SPIRE CQT2 ’’ (速湃CQT2) provided enhanced performance and superior cushioning for running enthusiasts. The newly launched ‘‘Cyclone ET ’’(疾風ET) speed training shoes provided an extra performance boost for runn ers. Meanwhile, several upgraded models of the ‘‘Biospeed CQT ’’ (飈速) series were introduced, including the ‘‘Biospeed CQT 4 PRO ’’ (飈速4PRO), ‘‘Biospeed CQT 3.5 PRO ’’ (飈速3.5 PRO), and ‘‘Biospeed CQT TEAM 2.0 ’’(飈速TEAM2.0). The ‘‘Flying Flame 4x4 ’’(飛燃4x4) outdoor running shoes, featuring butterfly-wing carbon plates and RPU outsoles, were designed to support runners in tackling outdoor challenges. Meanwhile , the ‘‘Flying Flame 4 ’’(飛燃4) running shoes were awarded the ‘‘Silver Award — 2025 MUSE Design Awards ’’by the International Awards Associates, demonstrating its ingen ious design and exceptional performance in the field of racing shoes. In the basketball c ategory, the highly anticipated ‘‘DVD 3 ’’, the third-generation signature basketball shoes of Spenc er DINWIDDIE, made its official debut. Inspired by sports car aesthetics and equip ped with CQT Carbon Critical Technology, the model represents a major breakthrough in pe rformance. Additionally, the newly launched ‘‘BIG3 6.0 ’’quickly gained industry attention for its stability and inn ovative design. During the period, the 361° ’s ‘‘BIO BB ’’basketball shoes were awarded the ‘‘Gold Award — 2025 MUSE Design Awards ’’by the International Awards Associates, reflecting the brand ’s deep-rooted heritage and exceptional product quality. In the training and lifestyle sector, 361° introduced the Spring ‘‘Ultra Series ’’ apparel collection, featuring high- performance windbreakers, pullovers, and track pants enha nced by Zero Constraint ( 零束) technology and windproof insulation for an elevated sporti ng experience. In addition, 361° launched the ‘‘New Skin 5.0 ’’(新肌5.0) and ‘‘New Movement ’’(新動5.0) series, which were designed to help users enhance their wearing experiences du ring the peak of summer. These product innovations cater to both professional athletes an d everyday training needs, further reinforcing 361° ’s leadership in sports technology. In terms of events, during the period, 361° made an appearance at the Tokyo Marathon Expo, attracting the attention of numerous marathon enthus iasts with their cutting-edge technology. Concurrently, the ‘‘3# Track — 10 Kilometres Race ’’ organised by 361° , commenced its inaugural race in Shenzhen. In addition, 361° , in its capacity as a sponsor, provided full support to the successful hosting of the ‘‘Paris Star 10km Race ’’in France. Leveraging the superior performance of 361° running shoes, our brand ambassador Ben CLARIDGE delivered an outstanding performance in the race a nd secured a commendable second-place finish. With upgrades in cushioning, lightwe ight design and propulsion technology, 361° running shoes provided strong support for professional run ners. – 2 –
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As part of its brand development efforts, 361° played an integral role in the 9th Asian Winter Games Harbin 2025 as an official partner and was honou red to witness the grand opening of this prestigious event. To ensure the seamless ex ecution of the 9th Asian Winter Games Harbin 2025, 361° meticulously designed and provided a comprehensive range o f official sportswear for torchbearers, escorts, volunteer s, technical officials, and security personnel. This global event significantly elevated 361° ’s international brand recognition and further expanded its global influence, further emphasisin g the important mission and social responsibility of Chinese sports brands. Meanwhile, the ‘‘JOKER1 GT ’’ ALL-STAR — 361° ’s first low-top guard shoes featuring Nikola JOKI Ć’s signature, made a spectacular debut at the NBA All-Star Game, showcasing 361° ’s cutting-edge basketball technology and strengthening its position in the international basketbal l market. Through a series of brand- sponsored events, including Nikola JOKI Ć’s birthday celebration, the ‘‘March 8 Women ’s Day’’ offline yoga classes, and a fan meet-and-greet with AO Ruipe ng ( 敖瑞鵬), 361° effectively engaged with a younger consumer base, strength ening brand affinity and deepening its connection with this demographic. During the period, 361º offered products that integrate appealing aesthetics, adv anced technology, and exceptional value through its e-commerce c hannels, promptly adapting to consumer trends. Capitalising on the Chinese New Year shopp ing season, 361° ’s ‘‘Non-stop New Year Shopping ’’(年貨買不停) marketing campaign on the Taobao Spring Festival Gala featured bestsellers like ‘‘JOKER1 ’’and ‘‘Biospeed CQT 4PRO ’’(飈速4PRO) in the special Year of the Snake editions. These efforts successfully boos ted festive consumer enthusiasm. In addition, 361° launched its outdoor product line in collaboration with the Sichuan Jianmen Pass ( 四川劍門關), a national AAAAA tourist attraction. By hosting a media challenge event, with further support of the Tmall Super Mem bership Day, we have effectively driven sales conversion. In terms of channel development, 361° continued to accelerate its market expansion and innovation in its retail business. Following the successfu l launch of its first Super Premium Store ( 超品店) at the end of 2024, the distributors swiftly launched addit ional Super Premium Stores in multiple cities, including Huizhou, Chen gdu, Shijiazhuang, Nanning, Jinan, Linyi, Yangzhou, and Anyang, aiming to deliver a supe rior offline retail experience for consumers. Furthermore, 361° successfully opened its first directly operated overseas store in Kuala Lumpur, Malaysia, further reinforcing its gl obal presence. Adhering to its channel development model of ‘‘coordinating online and offline stores, with dual emphasis on domestic and international markets ’’ (線上線下協同發力，國內國際雙輪並行), 361° injected robust growth momentum into the brand ’s overall sales performance. This announcement is made based on a preliminary review of th e unaudited operational data of the Group and the information currently available to the B oard, and is not reviewed or audited by the Group ’s auditors. The data appeared in this announcement does not constitute, represent or indicate the full picture of the Group ’s total revenue or financial performance and the informatio n contained in this announcement may be subject to change and adjustment . – 3 –
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Shareholders of the Company and potential investors are adv ised to exercise caution when dealing in the Company ’s securities. By order of the Board 361 Degrees International Limited Ding Huihuang Chairman Hong Kong, 14 April 2025 As at the date of this announcement, the Directors are as foll ows: Executive Directors: Mr. Ding Wuhao Mr. Ding Huihuang (Chairman) Mr. Ding Huirong Mr. Wang Jiabi Independent non-executive Directors: Mr. Wu Ming Wai Louie Mr. Hon Ping Cho Terence Mr. Chen Chuang Ms. Ferheen Mahomed – 4 –