CITIC SEC maintains a "buy" rating on 361 DEGREES (01361) with continued double-digit growth potential.

CITIC SEC released a research report stating that 361 DEGREES (01361) had seen a year-on-year increase of +10% in offline sales for its main brand, children's clothing offline sales, and e-commerce channels in Q3 of 2025, meeting market expectations. This reflects the company's outstanding product value and continued benefits from the current consumer environment. The bank predicts that the company's revenue in 2025 is expected to continue with double-digit growth momentum, gradually improving operating cash flow. In the long term, the company's outdoor brand One Way business and exploration of overseas offline wholesale and cross-border e-commerce operations are expected to provide new sources of growth for the company. The company is likely to reshape its valuation through continued performance realization and dividend increases. The rating is maintained as "Buy".