11???????28???????????,??????24/25???????,???????????????????????????20???????????????????,?????????

??????????????(3998.HK)???2024/25?????

??????,?,?????????,??,????????????,???????????????,?????,????

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???????,24/25??????????????,??17.8%??????88?;??????????????23%??????????11.3?????????????,?????24/25??????,??19.6%,??(?????????????)??28.3%?

?(3998.HK)2024/25??

???????????????,??????,2018 ??????????,??“?????????????,????????????????”????,??????????????,??????,???????????

?,???????,?????????????“????”??,??????????????????????,???????????????????????,????????????????????

??,24/25??,??19.4%???????52.8??????24/25?,???????3.9??????????????,?47.1%,??6.0?????

??????????,???“????????????????????????????????”???????,???????

???,???2023??1960?????,??????????????????,????????????????????????????,????2028??????????,???,????????11%??????

24/25???????????,??????,???13.4%??23.2??????????????,???????????OEM????????????????ODM?????,?????

???????,????

???????????,???????????????????????????,???????????????????????????????????????,??Top???????????Top?????????????????,????,???????

???????????,???????????????????,??????????????????,?????????

??Brand Finance“2024??????50?????????????(Brand Finance Apparel 50 2024)”,?????????46?;???????(World Brand Lab)“2024??????????500?????????????”,??????268???????;????????????????“2024???”??????????????????????,?????8??????????????,???????

????“????”??

??????,???????24/25????????,??????????????????,????????????«?»???????????????????????????????“???????????”?????,???????????????????

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?????????

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??????????,????,??,????????????????????,??????????,???????????,????????30%?

??????,????9??????IP??????????????11??????????????????????????????????????24/25??,???????????????24.1%?

ESG???

???(S&P Global)??????2024?????7????????????16????????????????????????«????(??????)2024»,????????????????ESG????????????????60????????????????????????1735?????????,???«????(????)2024»,????,?????

???????“1+3+X” ESG ??????

???,???????????“1+3+X”ESG?,????“???????????,??”????????????????????ESG??????,??????“?????????????2038??”??????????????????

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24/25??????????????,?????????????????????????????????

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2??????????

3??????????

4???????

5??????????

11???????28???????????,??????24/25???????,???????????????????????????20???????????????????,?????????

??????????????(3998.HK)???2024/25?????

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?(3998.HK)2024/25??

???????????????,??????,2018 ??????????,??“?????????????,????????????????”????,??????????????,??????,???????????

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????“????”??

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?????,????????????????????????«2024?????????????????»,?????,??????????

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