Here Group Ltd (FRA:MK60)

Q1 2026 Here Group Ltd Earnings Call Transcript

Dec 2, 2025 / 12:00 PM GMT

Release Date Price: €10.1

Transcript

Key Points

Positve

Here Group Ltd (HERE) reported a significant increase in total revenue, reaching RMB 127.1 million, up from RMB 65.8 million in the previous quarter.
Gross margins improved to 41.2% from 34.7% in the previous quarter, indicating enhanced profitability.
The company successfully completed the disposal of non-core businesses, allowing a focused strategy on high-growth pop toy segments.
Here Group Ltd (HERE) launched new IPs and products, such as the Wauu series, which have received positive market feedback and contributed to sales growth.
The company has established strategic partnerships, including with Beijing Radio and Television Station, to enhance cultural influence and brand visibility.

Negative

Despite revenue growth, Here Group Ltd (HERE) reported a net loss from continuing operations of RMB 25.8 million.
The company faces challenges in scaling its overseas market presence, with current overseas revenue proportion remaining low.
High operational expenses, including sales and marketing, remain a concern, although they have decreased as a percentage of revenue.
The company is still in the early stages of its DTC store strategy, with profitability and impact yet to be validated.
Supply chain shortages in the first half of the year impacted the company's ability to meet demand, particularly in overseas markets.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HERE.OQ - Here Group Ltd
Q1 2026 Here Group Ltd Earnings Call
Dec 02, 2025 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and good evening, ladies and gentlemen.

Thank you for standing by and welcome to Here's Earnings conference call. At this time, all participants are in a listen-only mode. We will be hosting a question-and-answer session after management's prepared remarks. Please note that today's event is being recorded. I would now like to turn the conference over to Ms. Leah Guo, investor relations associate director of the company. Please go ahead, ma'am.

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Unidentified_2 [2]
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Thank you. Hello, everyone, and welcome to Here's earnings call for the first

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