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

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

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

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

??????,??

??,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?????,?????????????,??????«????»????????????????????????????????“??????”???????????????,?????????

???????????????????????????,??????????????????,????????????????????2024????????????????“?????????????????”??,?,??,??

????????????????

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

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

??????????????TOP????????????????????,????????????

??????,??????,???????????,????????????,????????????????????????????,????,????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????”????????????

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

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

?

?????????????????,????,?????????????????,???(??????????????????????????????????????????)????????????????,??????????????????????????????

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

????????:??????? “ktv????”????

?? ?????????????? ???????

????:1?ktv????:??????????

2????????

3?????????????

4????????

5?????????

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

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

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

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

??????,??

??,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?????,?????????????,??????«????»????????????????????????????????“??????”???????????????,?????????

???????????????????????????,??????????????????,????????????????????2024????????????????“?????????????????”??,?,??,??

????????????????

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??????????????TOP????????????????????,????????????

??????,??????,???????????,????????????,????????????????????????????,????,????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????”????????????

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

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

?

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

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