EarningsQ2 2026 Earnings Report

Topsports International Holdings Limited (6110N) Q2 2026 Earnings Report

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Previous Report: Q4 2025

Next Report: Q3 2026

MX:6110N Q2 2026 EPS Results

Actual EPS$0.31

Consensus EPS$0.30

Beat/MissBeat by +$0.02

One Year Ago EPS$0.35

MX:6110N Q2 2026 Revenue Results

Actual Revenue$31.20B

Expected Revenue$34.36B

Beat/MissMissed by -$3.16B

YoY Revenue Growth―

Earnings Announcement Details

QuarterQ2 2026

Date10/22/2025

TimeBefore Open

Conference CallWednesday, October 22, 2025

MX:6110N Upcoming Earnings

Topsports International Holdings Limited's next earnings date is estimated for October 28, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

No earnings call audio is available for this earnings event.

Q2 2026 Earnings Slide Deck

No slide deck is available for this earnings event.

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Oct 22, 2025|

% Change Since:

Earnings Call Sentiment|Negative

The earnings call presented a mixed performance with significant challenges in revenue and profit margins due to a weak consumer demand and market fluctuations. However, the company has managed some cost efficiencies and growth in the online segment. Despite these efforts, the overall sentiment leans towards concerns about sustained declines in revenue and profit margins.

Company Guidance

The recent call transcript provided a comprehensive update on Topsports' financial performance and strategic initiatives. Despite a challenging external environment, Topsports achieved its planned performance for the first half of the fiscal year, with revenue declining by 5.8% to RMB 12.3 billion, primarily due to weak consumer demand and offline traffic fluctuations. Retail business revenue decreased by 3% year-over-year, while wholesale business saw a significant decline of 20.3%. Gross profit margin slightly declined by 0.1 percentage points to 41%, influenced by deeper discount rates and increasing online sales, which have higher discounts compared to offline channels. The company managed to control total expenses, which decreased by 5.5%, maintaining a stable expense ratio at 33.2%. Topsports continues to focus on enhancing omnichannel retail capabilities and operational efficiency, with a notable reduction in rental expenses by 12.1% year-over-year. The company reported a net operating cash flow of RMB 1.35 billion, down by 48.2%, attributed to timing differences in cash collection due to the Chinese New Year. Topsports remains optimistic about its long-term growth, focusing on omnichannel strategies, user engagement, and technology upgrades to adapt to evolving consumer habits and market conditions.

Online Business Growth

Retail online business sales, including both public and private domains, achieved a double-digit growth year-over-year.

Expense Management

Total expenses decreased by 5.5%, with a slight increase in the expense ratio by only 0.1%, reaching 33.2%. Rental expense ratio declined by 0.8 percentage points.

Inventory Management

Inventory amount decreased by 4.7%, and turnover days increased slightly, indicating effective inventory management.

MX:6110N Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 28, 2026	2027 (Q2)	0.25 / -	0.313	―
May 27, 2026	2026 (Q4)	0.17 / 0.20	0.173	14.29% (+0.02)
Dec 22, 2025	2026 (Q3)	- / -	0.387	―
Oct 22, 2025	2026 (Q2)	0.30 / 0.31	0.349	-10.24% (-0.04)
May 21, 2025	2025 (Q4)	0.20 / 0.17	0.346	-50.00% (-0.17)
Oct 23, 2024	2024 (Q2)	0.35 / 0.35	0.533	-34.54% (-0.18)
May 22, 2024	2023 (Q4)	0.35 / 0.35	0.267	29.90% (+0.08)
Oct 18, 2023	2023 (Q2)	0.52 / 0.53	0.445	19.75% (+0.09)
May 23, 2023	2022 (Q4)	0.29 / 0.27	0.387	-31.21% (-0.12)
Oct 25, 2022	2022 (Q2)	2.91 / 0.45	0.558	-20.20% (-0.11)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed