Xtep International Holdings Limited (XTEPY) Q4 2025 Earnings Call Prepared Remarks Transcript

Sophia Wong
Director of Investor Relations and Corporate Communications

Investors, good afternoon. Welcome to Xtep International Holdings Limited 2025 Annual Results Announcement Investor Session. I am Sophia, Director of IR of Xtep. So let me introduce to you our management in attendance. They are Group Chairman and CEO, Mr. Ding Shui Po; Group President, Mr. Tian Zhong; Group CFO, Ms. Dona Ding.

In today’s event, we will conduct this event in Mandarin with English simultaneous interpretation. The management will present the annual results for 2025, followed by a Q&A session. Before our management speaks, please enjoy the following concluding video clip for the year 2025.

[Presentation]

Sophia Wong
Director of Investor Relations and Corporate Communications

Now I would pass the floor to Group Chairman and CEO, Mr. Ding Shui Po. Please, Mr. Ding.

Shui Po Ding
Founder, Executive Chairman & CEO

Honorable investors, friends, good afternoon. Thank you for joining Xstep’s 2025 Annual Results announcement. In 2025, the global economic environment was complex and volatile with uncertainty prevailing throughout the year. Nevertheless, we still achieved steady growth. This is largely due to the strategy of focusing on running that we adopted several years ago. Running has been one of the most promising sectors in recent years. The number of runners in China has grown from fewer than 90 million to 300 million in 2025. And for marathons, the number of participants has grown by over 20% annually.

In 2025, Xtep continued to lead the way in this sector. In the 7 flagship marathon events in China, including