TOPSPORTS (06110) announces annual performance, with profits attributable to equity holders decreasing by approximately 1.49% to about 12.67 billion yuan compared to the previous year.

TOPSPORTS (06110) announced its full-year performance for the year ending February 28, 2026, with revenue of approximately 25.74 billion yuan, a year-on-year decrease of 4.71%; net profit attributable to equity holders of the company was approximately 1.267 billion yuan, a year-on-year decrease of 1.49%; earnings per share were 20.43 points, with a proposed final dividend of 3 points per share and a special dividend of 12 points per share. As of February 28, 2026, the group operated a total of 4,360 directly operated stores. The number of stores decreased by 13.1% compared to the previous year, narrowing the decline from 18.3% in the previous year, mainly due to a reduction in the number of store closures compared to the previous year. Total sales area decreased by 9.7% year-on-year, which is consistent with the change in the number of stores. The sales area per store increased slightly by 3.9% year-on-year, a significant slowdown from the 7.2% increase in the previous year, further reflecting the group's focus on store efficiency and sales per square foot. In terms of operational quality, both the performance of newly opened and refurbished stores this year was better than the same period last year, and the overall loss reduction effect from store closures was better than the same period last year. Capital expenditure during the year decreased by 24.0% year-on-year, alleviating some of the operational pressures from the structural adjustment of offline stores. The group has always recognized the core value of physical stores in the sports retail industry, continuously optimizing and upgrading stores with potential for improvement, actively expanding the overall operation capabilities of physical stores through differentiation strategies, closely following changes in consumer trends, and exploring more growth opportunities for business development through comprehensive traffic flow and refined operations.