However, Geox and Paladin, which belong to the fashion and sports sector, dragged down the Xtep Group, and the fashion and sports division suffered a net loss of 104 million yuan.
This year, Xtep Group's "cost reduction and efficiency improvement" has become increasingly obvious.
Yang Lubin revealed at the exchange meeting that due to the indonesia phone number sample decline in domestic interest rates and the rise in Hong Kong interest rates, Xtep International has gradually applied to remit money to Hong Kong since last year to repay Hong Kong loans. "In the first half of this year, we have repaid more than 1 billion Hong Kong loans. It is expected that all Hong Kong loans will be repaid this year to reduce interest expenses.
In terms of channels, Xtep Group has also taken the initiative to slow down its expansion, focusing mainly on the image upgrade of existing stores and the strategy of "opening large stores and closing small stores". As of June 30, Xtep's main brand adult brand stores in mainland China and overseas totaled 6,578.
When talking about the strategy for the second half of this year, the management of Xtep Group was more cautious.
Times Finance learned from the exchange meeting that in the second half of the year, Xtep Group will implement stricter control over key indicators such as costs and inventory, and actively adjust the sales rhythm.