361 Degrees International Limited reported revenue of RMB6.16 billion for the six months ended 30 June 2026, an 8.0% increase year-on-year. Gross profit rose 8.7% to RMB2.57 billion, pushing the gross margin up 0.3 percentage point to 41.8%.

Profit attributable to equity holders grew 8.0% to RMB925.94 million, keeping the net margin steady at 15.0%. Basic earnings per share advanced 7.0% to RMB44.4 cents.

Cost discipline supported profitability: advertising and promotion expenses fell to 9.5% of revenue (-0.6 percentage point), while staff costs declined to 6.3% of revenue. Research and development spending increased 13.0% to RMB180.92 million, lifting the R&D ratio to 2.9%.

Balance-sheet metrics improved. Inventory turnover shortened to 102 days (-15 days year-on-year), trade and bills receivables remained at 149 days, and operating cash flow climbed 16.7% to RMB612 million. Cash and cash equivalents stood at RMB5.18 billion, versus bank borrowings of RMB460.81 million, resulting in a gearing ratio of 3.0%.

The Board declared an interim dividend of HK$22.2 cents per share, representing a 45% payout ratio. The register of members will be closed from 1 to 3 September 2026; dividend payment is scheduled on or about 15 September 2026.

Operationally, the Group operated 5,076 361° stores and 2,202 kids’ points-of-sale in Mainland China as of 30 June 2026. Overseas, 1,167 offline points-of-sale and fast-growing cross-border e-commerce channels drove international retail sales up more than 80%.

E-commerce revenue increased 9.5% to RMB1.99 billion, contributing 32.3% of total revenue. The omnichannel “1+6” model and partnerships with platforms such as Meituan and JD Instant Delivery expanded on-demand retail coverage.

In May 2026 the company raised HK$610.80 million (approximately RMB531.94 million) through a placement of 100 million new shares; proceeds are earmarked for overseas expansion and general working capital.

Research and innovation remained a focus, with 1,506 patents held and key launches in running, basketball and outdoor categories. 361 Degrees reaffirmed its guidance that full-year R&D spending will represent 3-4% of revenue.