BOCI International released a research report stating that topsports issued a profit warning indicating weaker than expected retail sales of sportswear, with an expected year-on-year decrease of about 35% in the first half of the 2025 fiscal year (from March to August this year). The report mentioned that since the company recorded a profit of 1.337 billion RMB in the mid-2024 fiscal year, it implies that the profit in the first half of the 2025 fiscal year will be around 0.869 billion RMB, a decrease of 33% from the bank's original forecast, and 38% lower than the market's expectation of about 2.3 billion RMB. Therefore, the performance in the current first half of the fiscal year may disappoint the market significantly. BOCI International pointed out that due to the uncertainty of this year's November 11 shopping festival-related, industry profits are expected to be further downgraded. They will evaluate the target price and rating for topsports later.