Xtep International Holdings Limited - Investor Relations

For the six months ended 30 June

Profitability data (RMB million)
Revenue (Note 11)
Gross profit (Note 11)
Operating profit (Note 11)
Profit attributable to ordinary equity holders
Basic earnings per Share (RMB cents) (Note 1)
Profitability ratios (%)
Gross profit margin (Note 11)
Operating profit margin (Note 11)
Net profit margin (Note 11)
Effective tax rate (Note 11)
Return on average total equity holders’ equity (annualized) (Note 2)
Operating ratios (as a percentage of revenue) (%)
Advertising and promotional costs
Staff costs
R&D costs

2025
6,837.6
3,073.7
1,304.8
913.6
34.55
2025
45.0
19.1
13.4
28.7
19.7
2025
12.6
10.2
2.8

2024
6,381.7
2,875.5
1,195.8
752.1
29.66
2024
45.1
18.7
11.8
25.4
16.4
2024
12.6
10.3
2.5

2023
5,773.8
2,483.0
1,074.7
665.4
26.36
2023
43.0
18.6
11.5
24.1
15.7
2023
13.4
9.4
3.0

2022
5,054.1
2,136.1
954.7
590.4
23.47
2022
42.3
18.9
11.7
32.5
14.6
2022
10.1
11.2
2.1

2021
3,673.0
1,528.7
724.1
426.5
17.09
2021
41.6
19.7
11.6
32.2
11.5
2021
10.1
11.5
2.6

2020
3,679.1
1,489.1
500.7
247.9
10.10
2020
40.5
13.6
6.7
39.6
7.1
2020
10.8
12.4
2.8

2019
3,356.9
1,497.3
717.3
463.0
20.19
2019
44.6
21.4
13.8
32.0
15.2
2019
13.4
10.8
2.4

2018
2,729.0
1,193.1
592.0
375.2
17.26
2018
43.7
21.7
13.7
31.8
14.1
2018
12.3
10.7
2.6

2017
2,310.8
1,015.6
479.1
310.3
13.98
2017
43.9
20.7
13.4
28.1
12.2
2017
12.2
10.6
2.8

2016
2,534.6
1,098.5
583.4
380.1
17.25
2016
43.3
23.0
15.0
29.9
15.3
2016
9.3
9.4
2.3

2015
2,390.6
999.4
500.6
343.5
15.86
2015
41.8
20.9
14.4
29.6
14.4
2015
13.4
8.7
2.0

2014
2,135.0
862.1
425.8
284.2
13.05
2014
40.4
19.9
13.3
31.1
12.3
2014
12.5
9.8
2.4

2013
2,098.0
843.1
475.5
340.9
15.66
2013
40.2
22.7
16.2
28.6
15.6
2013
9.0
8.5
2.3

2012
2,607.3
1,067.6
593.8
467.8
21.50
2012
40.9
22.8
17.9
22.7
23.2
2012
11.4
6.7
1.6

2011
2,570.3
1,051.5
564.3
466.2
21.43
2011
40.9
22.0
18.1
18.1
26.7
2011
11.8
5.3
1.4

2010
2,040.2
830.8
451.9
373.5
17.18
2010
40.7
22.2
18.3
17.9
24.6
2010
11.7
4.7
1.3

2009
1,677.4
647.8
331.3
306.5
14.10
2009
38.6
19.8
18.3
7.4
22.8
2009
11.6
4.8
1.7

2008
1,408.2
517.8
300.8
254.7
16.01
2008
36.8
21.4
18.1
14.2
35.4
2008
8.0
5.3
1.6

As at 30 June

‹ ›

Assets and liabilities data (RMB million)
Non-current assets
Current assets
Current liabilities (Note 12)
Non-current liabilities (Note 12)
Non-controlling interests
Total equity holders’ equity
Asset and working capital data
Current asset ratio
Gearing ratio (%) (Note 3)
Net asset value per Share (RMB) (Note 4)
Average inventory turnover days (days) (Note 5)
Average trade receivables turnover days (days) (Note 6)
Average trade payables turnover days (days) (Note 7)
Overall working capital days (days)
Rolling average inventory turnover days (days) (Note 8)
Rolling average trade receivables turnover days (days) (Note 9)
Rolling average trade payables turnover days (days) (Note 10)
Rolling overall working capital days (days)

2025
4,463.9
12,709.9
5,774.2
1,523.6
-
9,876.0
2025
2.2
13.4
3.55
94
126
115
105
91
118
119
90

2024
5,335.0
12,197.0
5,764.3
2,326.5
-
9,441.2
2024
2.1
16.8
3.57
94
114
123
85
100
100
110
90

2023
4,648.8
11,974.4
6,288.7
1,537.0
69.1
8,728.4
2023
1.9
19.7
3.34
115
106
123
98
107
92
111
88

2022
3,907.6
11,891.5
5,328.2
2,140.8
52.9
8,277.2
2022
2.2
18.9
3.16
106
102
138
70
93
87
112
68

2021
3,682.0
8,936.0
3,295.5
1,677.9
70.3
7,574.3
2021
2.7
15.4
2.91
79
112
114
77
81
110
123
68

2020
3,628.2
9,310.9
3,810.9
2,041.7
88.1
6,998.4
2020
2.4
18.1
2.81
94
137
142
89
74
105
108
71

2019
1,438.6
9,238.7
3,458.3
320.7
64.5
6,833.8
2019
2.7
16.7
2.76
81
107
90
98
86
95
102
79

2018
1,117.7
8,320.1
3,091.9
830.1
108.3
5,407.4
2018
2.7
21.0
2.46
104
113
134
83

2017
946.4
7,493.7
2,267.4
889.2
94.7
5,188.8
2017
3.3
19.1
2.38
67
164
128
103

2016
1,090.6
7,140.2
2,979.5
156.5
48.3
5,046.5
2016
2.4
18.9
2.31
55
122
120
57

2015
941.9
7,253.8
2,854.0
548.4
6.8
4,786.5
2015
2.5
26.2
2.20
72
104
91
85

2014
1,039.8
6,729.4
2,140.2
999.4
2.3
4,627.3
2014
3.1
22.4
2.13
94
96
101
89

2013
813.5
6,137.6
1,941.1
611.2
4.9
4,393.9
2013
3.2
19.0
2.02
86
96
84
98

2012
549.9
5,382.9
1,298.1
496.4
8.0
4,130.3
2012
4.1
18.7
1.90
82
74
60
96

2011
594.3
4,130.7
1,050.8
52.3
5.0
3,616.9
2011
3.9
6.0
1.66
81
58
73
66

2010
279.6
3,644.1
814.0
35.3
-
3,074.4
2010
4.5
-
1.41
46
57
76
27

2009
224.7
3,047.0
521.7
7.2
-
2,742.8
2009
5.8
-
1.26
49
60
68
41

2008
124.8
3,206.5
733.4
-
-
2,597.9
2008
4.4
9.4
1.18
58
47
43
62

Notes:

1The calculation of basic earnings per Share is based on the profit attributable to ordinary equity holders of the Company divided by the weighted average number of ordinary shares in issue during the relevant period.
2Return on average total equity holders’ equity is equal to the profit attributable to ordinary equity holders of the Company for the period divided by the average of opening and closing total equity holders’ equity.
3The calculation of gearing ratio is based on the total borrowings divided by the total assets of the Group at the end of the period.
4The calculation of net asset value per Share is based on the total number of Shares in issue at the end of the period.
5Average inventory turnover days is equal to the average of opening and closing inventory divided by costs of sales and multiplied by 183 days.
6Average trade receivables turnover days is equal to the average of opening and closing trade receivables divided by revenue and multiplied by 183 days. Figures from 2008 to 2013 is equal to the average of opening and closing trade and bills receivables divided by revenue and multiplied by the number of days in the relevant period.
7Average trade payables turnover days is equal to the average of opening and closing trade payables divided by cost of sales and multiplied by 183 days. Figures from 2008 to 2012 is equal to the average of opening and closing trade and bills payables divided by cost of sales and multiplied by the number of days in the relevant period.
8Rolling average inventory turnover days is equal to the average of opening and closing inventory of the 12-month period up to 30 June of the relevant year (or average of opening and closing inventory of continuing operations of the period from 1 July 2024 to 30 June 2025) divided by costs of sales during the corresponding period and multiplied by 365 days (or 366 days in 2020 and 2024).
9Rolling average trade receivables turnover days is equal to the average of opening and closing trade receivables of the 12-month period up to 30 June of the relevant year (or average of opening and closing trade receivables of continuing operations of the period from 1 July 2024 to 30 June 2025) divided by revenue during the corresponding period and multiplied by 365 days (or 366 days in 2020 and 2024).
10Rolling average trade payables turnover days is equal to the average of opening and closing trade payables of the 12-month period up to 30 June of the relevant year (or average of opening and closing trade payables of continuing operations of the period from 1 July 2024 to 30 June 2025) divided by costs of sales during the corresponding period and multiplied by 365 days (or 366 days in 2020 and 2024).
11On 30 November 2024, the disposal of the KP Global Group was completed. The financial results of the KP Global Group for the period from 1 January 2024 to 30 June 2024 was re-presented as discontinued operation in the interim financial information accordingly. The revenue, gross profit and operating profit presented in the summary were re-presented for the continuing operations. The profitability ratios were also re-presented using the amount of continuing operations for calculation.
12Due to the adoption of the revised HKFRSs in 2024, the accounting treatment and presentation of certain items and balances in the financial statements have been revised to comply with the new requirements. Accordingly, certain prior year adjustments have been made, and certain comparative amounts have been reclassified and restated to conform with the presentation and accounting treatment. The balances and ratios for each year in the five-year financial summary have been adjusted for the effects of the retrospective changes arising from the adoption of revised HKFRSs in 2024.

INVESTORRELATIONS

For the six months ended 30 June

As at 30 June

INVESTOR
RELATIONS