Goodbaby International Announces 2025 Interim Results

Reports Sustained Growth in Revenue

CYBEX Achieves Record Revenue and Profit
Maintains Robust Performance Amid Macro Challenges
Demonstrates Strong Brand Position and Operational Resilience

HONG KONG, Aug. 25, 2025 /PRNewswire/ --

Highlights:

• Amidst turbulence and uncertainties, the Group managed to maintain revenue growth of 2.7% to approximately HK$4,300.9 million and continued to generate solid operating cash flow;
• CYBEX recorded robust revenue growth of 13.6% to approximately HK$2,452.4 million, celebrating its 20^th anniversary with another record first-half revenue and profit;
• Evenflo continued to strategically invest in product development and digitalization, which resulted in strong growth in stroller segment and D2C channel; 
• gb made progress in its brand transformation with optimized channel, which greatly uplifted gross margin;
• The Group's strong one-dragon vertically integrated platform continued to support its development and minimize risks in any single territory, enabling the Group to navigate market fluctuations in an agile and flexible manner and continue to gain market share;
• The Group deepened its practices in ESG and was included in S&P Global  "Sustainability Yearbook (China Edition) 2025", and honored with the "2025 Forbes China ESG Benchmarks in Industry Development ".

Goodbaby International Holdings Limited ("Goodbaby International" or the "Company", HKEX stock code: 1086, together with its subsidiaries, the "Group"), a leading global parenting products company, has announced its unaudited interim results for the six months ended 30 June 2025 (the "Period").

During the Period, the Group's revenue increased by 2.7% (a 2.8% increase on a constant currency basis) to approximately HK$4,300.9 million. Reported gross profit was approximately HK$2,134.8 million, reported operating profit was approximately HK$202.0 million, and reported net profit was approximately HK$105.5 million. Meanwhile, the Group also further leveraged its full value chain advantages and integrated them with sustainability through deepened practices in environment, social and corporate governance. During the Period, the Group was included in S&P Global "Sustainability Yearbook (China Edition) 2025" as the only Chinese company in the Leisure Equipment & Products and Consumer Electronics Industry, and also honored with the "2025 Forbes China ESG Benchmarks in Industry Development ", becoming the only company in the industry to have received the honor.

CYBEX sets new record for first-half revenue and profit; brand profitability and resilience continue to improve

Despite facing challenges such as negative consumer sentiment, weak European economy, declining birthrates and worsening geopolitical conflicts, CYBEX achieved positive performance across all categories, channels, and markets thanks to its strong brand resilience and market influence, celebrating the brand's 20^th anniversary. Backed by strong market demand for its products, CYBEX recorded revenue growth of 13.6% to approximately HK$2,452.4 million (1H 2024: HK$2,158.2 million), continuing to grow its market share globally. The brand also continued to improve its profitability. In addition, CYBEX made solid progress in the strategic North American market, forging ahead with strong momentum despite tariffs and corresponding price increases. CYBEX's outstanding performance was the result of its strong and continuously enhanced brand position, innovative and improved product portfolio, supported by strong operational infrastructure and supply chain and further expansion and fortification of global omni-channel distribution network with industry leading self-owned wholesale, e-commerce and own offline flagship store infrastructure. During the Period, CYBEX's new flagship store located in central Paris continued to enhance its leadership in "Strategic Key Cities" and reinforce its global leading position as the premium "technical-lifestyle" brand.

Evenflo launches record number of new products and achieves robust growth in its stroller segment and D2C channel

In the first half of the year, Evenflo recorded revenue of approximately HK$1,075.3 million. It launched the highest number of new products in the brand's history, which resulted in robust growth in the stroller segment; in addition, it recorded strong momentum in the D2C channel due to its successful digital strategy. However, factors such as higher input cost caused by US's new tariff policies, increased cost in car seat products to comply with new regulatory standards, increase in corresponding costs for new products display in retailers' stores, heavier promotions and marketing expenses incurred for old product models challenged the brand's profitability during the period. Evenflo will focus on recovering sales growth and profitability in the second half of the year, optimize costs, adjust its pricing strategy, and continue to strategically invest in brand, products, digital strategy and talents to further consolidate its business foundation.

gb achieves solid uplift in gross margin and significantly narrows operating loss through further optimization of product portfolio and channel mix

Under the leadership of its new management team, the gb brand significantly narrowed its operating loss to approximately HK$394.8 million during the Period. The gb brand streamlined its online and offline wholesale channels in the brand's shift from B2B model to D2C model. In addition, it effectively eliminated price chaos across channels and stabilized prices by optimizing the channel mix to strengthen self-control on channels, resulting in a solid uplift in gross margin. The gb brand also recorded positive growth in self-owned offline retail channels and continued adjustments in its online retail channels. For example, there was strong growth in Douyin livestreaming channel, and some of its key durable SKUs ranked at the top in respective categories. gb will focus on product development and upgrades, refined operations in self-owned retail channels in both online and offline, and continued price control, along with continuous brand transformation.

During the Period, the Blue Chip and other business recorded a decline in revenue to approximately HK$378.4 million. The Group's relationship with its Blue Chip customers remained healthy and stable. The Group will continue to receive customer orders and has successfully developed new customers. It continues to deliver services that meet the demands of both existing and new customers.

Outlook

Looking ahead, geopolitical conflicts and tariff uncertainties will remain key challenges for the Group to address. Nevertheless, the Group will continue to focus on the vertically integrated one-dragon, brand-driven development strategy through sustained strategic investments to consolidate its global competitiveness, expand and deepen its brand building, omni-channel distribution network and infrastructure, and global footprint. It will also optimize and consolidate its global supply chain strategies to ensure faster response to market, providing consumers with high-quality products and services, and a world-class omni-channel experience.

Mr. Tongyou LIU, Executive Director and Group CEO of Goodbaby International said, "Despite the continued macroeconomic weakness, with consumer sentiment and market confidence generally declining, the Group maintained positive revenue growth thanks to our global competitiveness, which is attributable to our one-dragon vertically integrated platform of own diversified brands, globally balanced omni-channel distribution platforms, own manufacturing and operational services, which enabled us to minimize risks in any single territory and react flexibly. We are also delighted that CYBEX achieved another record first half revenue and profit as it celebrates its 20^th anniversary. In the second half of the year, the Group's focus will continue to be on the strategic brands of CYBEX, Evenflo and gb and the development of Blue Chip business. We will adhere to our brand-driven strategy supported by world-class technology, manufacturing, supply chain excellence and agility, innovation, mother market operations, digital and cost optimization. We will continue to inject momentum into the Group's business, and strive to realize our vision of becoming an outstanding enterprise with global and future-ready competitiveness and achieving sustained profitable growth."

About Goodbaby International Holdings Limited

Goodbaby International Holdings Ltd. (stock code: 1086) is a world-leading parenting products company. The Group serves millions of families around the world through design, research and development, manufacture, marketing and sales of children's car safety seats, strollers, apparel and home textile products, feeding, nursing and personal care products, cribs, bicycles and tricycles and other children's products.

For more information, please visit Goodbaby's corporate website: www.gbinternational.com.hk.

SOURCE Goodbaby International Holdings Limited