Toread Holdings Group Co., Ltd. (300005.SZ) Bundle
Explore the evolution of Toread Holdings Group Co., Ltd., founded in 1999 as Beijing Toread Outdoor Products Co., Ltd. and rebranded in July 2015 to reflect broader ambitions, with a workforce of about 595 employees by 2025 and a market capitalization of 7.38 billion CNY as of October 2025; the company now operates two core segments-outdoor products and a growing chip business-and in December 2025 announced plans to invest approximately 678 million RMB to acquire controlling stakes in two chip firms, while its ownership structure as of July 2025 shows 883,702,186 shares outstanding with insiders holding 32.77% and institutions 0.93%, the stock trading on Shenzhen (300005) at 8.74 CNY on October 10, 2025 (trailing P/E 82.80) and an enterprise value of 6.53 billion CNY; financial highlights include 2023 outdoor product revenue of 1.39 billion CNY (up 22.10% year-over-year), the chip segment contributing revenue in 2024, and a first-quarter 2025 net profit of 0.107 billion CNY (down 30.7% year-on-year), all shaping Toread's strategy, mission of innovation and sustainability, and its multi-brand, multi-channel business model that spans TOREAD, TOREADKIDS and TOREAD.X across retail and e-commerce channels.
Toread Holdings Group Co., Ltd. (300005.SZ): Intro
History Toread Holdings Group Co., Ltd. (300005.SZ) traces its origins to 1999 when it was founded as Beijing Toread Outdoor Products Co., Ltd., concentrating on outdoor apparel and equipment. In July 2015 the company rebranded to Toread Holdings Group Co., Ltd. to reflect an expanded corporate scope beyond traditional outdoor goods. Over the next decade the firm diversified operations, notably adding a chip business segment and pursuing M&A to accelerate that strategy.- 1999 - Founded as Beijing Toread Outdoor Products Co., Ltd.
- July 2015 - Rebranded to Toread Holdings Group Co., Ltd.
- 2020s - Strategic diversification into semiconductor/chip businesses
- Dec 2025 - Announced planned ~678 million RMB acquisition to gain control of two chip firms
- Listing: Shenzhen Stock Exchange (300005.SZ)
- Major shareholder types: institutional investors, retail shareholders, strategic investors
- Governance: board-led M&A and diversification strategy
- Outdoor products: direct retail, wholesale, e-commerce, licensing
- Manufacturing/OEM: production contracts, private-label manufacturing
- Chip segment: investments, ownership stakes in chip firms, potential downstream sales and IP licensing
- M&A-driven growth: acquiring capabilities and market share (e.g., Dec 2025 announced ~678M RMB investment)
| Metric | Value |
|---|---|
| Founded | 1999 |
| Rebrand | July 2015 |
| Employees (by 2025) | ~595 |
| Market capitalization (Oct 2025) | 7.38 billion CNY |
| Dec 2025 announced chip acquisition investment | ~678 million RMB |
| Primary listing | Shenzhen Stock Exchange - 300005.SZ |
Toread Holdings Group Co., Ltd. (300005.SZ): History
Toread, founded in 1996 in Fujian, began as an outdoor apparel and equipment retailer and expanded into a national multi-channel outdoor lifestyle brand through franchising, company-owned stores, e-commerce and licensing. Key milestones include rapid retail roll-out in the 2000s, IPO on the Shenzhen Stock Exchange, and subsequent expansion into outdoor gear, apparel R&D and international sourcing.- IPO: Listed on Shenzhen Stock Exchange, ticker 300005.
- Business model evolution: Retail stores → omnichannel sales (brick‑and‑mortar + e‑commerce).
- Product lines: Outdoor apparel, footwear, backpacks, camping gear, and licensed collaborations.
| Metric | Value |
|---|---|
| Shares outstanding (Jul 2025) | 883,702,186 |
| Insider ownership | 32.77% |
| Institutional ownership | 0.93% |
| Enterprise Value (Oct 2025) | 6.53 billion CNY |
| Stock price (Oct 10, 2025) | 8.74 CNY |
| Trailing P/E (Oct 10, 2025) | 82.80 |
| Exchange / Ticker | Shenzhen Stock Exchange / 300005.SZ |
- High insider stake (32.77%) aligns management with shareholders but concentrates control.
- Limited institutional participation (0.93%) suggests low foreign/institutional footprint or retail-dominated float.
- Share count and insider holdings influence liquidity and takeover dynamics.
- Mission: Deliver accessible, durable outdoor lifestyle products across China and adjacent markets.
- Strategy: Scale retail footprint, strengthen brand recognition, expand e‑commerce and product R&D.
- Retail sales: Company‑owned and franchise store revenues (primary channel historically).
- E‑commerce: Direct online sales and marketplace presence to capture urban and younger consumers.
- Wholesale & licensing: Supply to third‑party retailers and licensed product collaborations.
- Value chain: In-house design/R&D, outsourced manufacturing, centralized procurement to preserve margins.
Toread Holdings Group Co., Ltd. (300005.SZ): Ownership Structure
Toread Holdings Group Co., Ltd. (300005.SZ) positions itself as a leading Chinese outdoor-gear brand that pairs product quality with growing technology and sustainability ambitions. The company has publicly stated strategic priorities around product innovation, diversification (including investments into chip-related capabilities), and customer-focused service while working to strengthen environmental and governance practices. For a fuller company overview, see: Toread Holdings Group Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money- Mission: Provide high-quality outdoor products and services to a broad range of outdoor enthusiasts, from casual consumers to professional users.
- Innovation: Expanding product mix and R&D - including moves into chip/technology components - to diversify revenue streams and improve product competitiveness.
- Sustainability: Emphasis on environmentally responsible sourcing, production and packaging aligned with global ESG trends.
- Customer satisfaction: Prioritizes after-sales service, retail experience (online + offline), and product performance to meet diverse needs.
- Culture: Fosters teamwork, collaboration, integrity and transparency to build stakeholder trust and drive long-term value.
| Metric | Latest reported (approx.) | Notes / Source context |
|---|---|---|
| Stock code | 300005.SZ | Shenzhen Stock Exchange (ChiNext) |
| Annual revenue (most recent fiscal) | ≈ RMB 2.1 billion | Management disclosures and annual reporting trend; rounded estimate |
| Net profit (most recent fiscal) | ≈ RMB 120-180 million | Range reflects recent year-on-year margin variability |
| Gross margin | Approx. 30-40% | Typical for branded apparel/outdoor equipment segment |
| R&D spend | ≈ 2-4% of revenue | Includes product development and emerging tech initiatives |
- Founders / controlling entities - majority or significant block holdings (chairman-related holding companies often among top holders).
- Institutional investors - domestic mutual funds, QFII/RQFII and industry-specific funds holding strategic minority stakes.
- Management & employees - stock incentives and management holdings align interests with performance.
- Public float - retail and smaller institutional investors trading on Shenzhen ChiNext.
| Shareholder type | Representative stake (approx.) | Role |
|---|---|---|
| Founders / major shareholders | ~30-45% | Strategic control, sets long-term strategy |
| Institutional investors | ~10-25% | Liquidity, governance oversight, potential strategic partners |
| Management & employee incentive pools | ~3-8% | Aligns management with shareholder value |
| Public/retail float | ~20-40% | Market liquidity and price discovery |
- Major shareholders and management continuity support long-term product and market investments (retail network, brand-building, R&D).
- Institutional presence enhances governance and may pressure performance/ESG improvements.
- Employee incentives encourage innovation and operational execution, important as Toread scales new tech and sustainability programs.
Toread Holdings Group Co., Ltd. (300005.SZ): Mission and Values
Toread Holdings Group Co., Ltd. (300005.SZ) combines outdoor apparel and equipment operations with a semiconductor (chip) business. The company's stated mission centers on encouraging outdoor lifestyles while leveraging electronics and materials technology to expand product offerings and margins. Core values emphasize durability, innovation, customer experience, and multi-brand market coverage. How It Works Toread operates through two main segments: Outdoor Products Business and Chip Business. These segments are managed to capture both consumer retail demand for outdoor gear and industrial demand for touch and LED-driving semiconductors.- Outdoor Products Business: design, manufacturing and sale of jackets, tents, sleeping bags, mountaineering equipment, footwear and related accessories under TOREAD, TOREADKIDS and TOREAD.X brands.
- Chip Business: development, production and sale of touch-control chips and LED display driver integrated circuits used in consumer electronics, industrial displays and IoT devices.
- Multi-brand strategy: TOREAD (core outdoor), TOREADKIDS (children's wear), TOREAD.X (premium/tech-integrated products).
- Sales channels: direct-operated and franchised physical retail stores, wholesale to retail chains, brand mono-stores, and national and cross-border e-commerce platforms (including company flagship stores and third-party marketplaces).
- R&D-led product development: joint technology workstreams across textile/materials engineering for outdoor gear and IC design for chips to maintain product differentiation and margin expansion.
| Metric | Value / Notes |
|---|---|
| Fiscal year (latest reported) | 2023 (latest annual report period) |
| Group revenue (approx.) | RMB 2.1-2.4 billion (outdoor + chip combined) |
| Outdoor segment revenue (approx.) | ~70-80% of group revenue (RMB ~1.5-1.9 billion) |
| Chip segment revenue (approx.) | ~20-30% of group revenue (RMB ~0.4-0.7 billion) |
| Net profit (approx.) | RMB 100-220 million (varies with one-off items & inventory cycles) |
| R&D expenditure | RMB 50-120 million annually (investment across materials, textile tech, IC design) |
| Retail footprint | Several hundred POS (company + franchise); growing e-commerce share (>30% of retail sales) |
| Manufacturing | Company-owned and outsourced production for garments; in-house and partner fabs/packaging for chips |
- Outdoor products: revenue driven by seasonal collections, channel mix (higher margins in direct retail and online flagship stores), and expansion into premium sub-brands (TOREAD.X).
- Chip business: revenue driven by IC design wins, small-to-mid volume supply contracts, and higher gross margins when higher-value driver ICs and touch chips are produced internally or through preferred foundry partners.
- R&D and vertical integration: investments in materials and IC design aim to reduce component costs, accelerate new product time-to-market and improve gross margins over mid-term.
| Metric | Why it matters |
|---|---|
| Same-store sales (outdoor) | Indicates brand strength and product competitiveness in offline channels |
| E-commerce gross merchandise volume (GMV) | Shows digital channel traction and margin mix improvements |
| Chip design wins / new product shipments | Predicts future chip revenue and scaling of higher-margin products |
| R&D spend as % of revenue | Measures reinvestment into tech and future differentiation |
| Inventory turnover | Crucial for seasonal apparel working-capital management |
- Prioritize R&D and selective M&A to enhance IC capabilities and proprietary materials/finishes for outdoor gear.
- Optimise channel mix toward higher-margin direct and e-commerce sales while controlling franchise expansion to limit capital intensity.
- Scale chip volumes to leverage fixed-cost dilution in IC design and packaging, improving overall corporate gross margin.
Toread Holdings Group Co., Ltd. (300005.SZ): How It Works
Toread Holdings Group Co., Ltd. (300005.SZ) is a publicly traded Chinese outdoor apparel and equipment company that has expanded into related businesses to diversify revenue and leverage brand, distribution and R&D capabilities. Its core mechanics combine product design, manufacturing, brand retailing, and newer technology investments to generate multiple income streams.- Primary revenue comes from the sale of outdoor products-apparel, footwear, gear and accessories-through owned stores, e-commerce channels and wholesale partners.
- Since 2024 the company has added a chip business, producing specialized chips for targeted applications, creating a technology-driven revenue stream alongside its consumer goods operations.
- Other income sources include merchandising and licensing, investment management returns, and consulting services tied to retail, supply chain and product development expertise.
| Segment | 2023 Figure | Notes |
|---|---|---|
| Outdoor Products Business Revenue | 1.39 billion CNY | 22.10% growth year-over-year (2023 vs 2022) |
| Chip Business | Contributed to revenue in 2024 | New income stream; first material revenue recognized in 2024 |
| Merchandising, Investment Management & Consulting | Supplementary revenue streams | Variable contribution depending on investment performance and consulting contracts |
- Product sales: gross margins driven by brand positioning, sourcing and channel mix (retail vs wholesale vs e‑commerce).
- Chip business: capital- and R&D-intensive; revenue recognition depends on product cycles, customer adoption and manufacturing capacity.
- Investments & consulting: generate non-operating income and services revenue, smoothing volatility from retail seasonality.
- Market demand for outdoor lifestyle products-consumer trends, seasonality and marketing effectiveness.
- Execution and commercialization of the chip business-time to market, product competitiveness and margin profile.
- Retail footprint and digital channel performance impacting same-store sales and online growth.
Toread Holdings Group Co., Ltd. (300005.SZ): How It Makes Money
Toread generates revenue primarily through the design, manufacture and retail of outdoor apparel, footwear and equipment, and increasingly through strategic investments and subsidiaries in semiconductor/chip-related businesses. The business model blends branded retail margins with product manufacturing and growing technological income streams from its chip initiatives.- Core retail and wholesale of outdoor products (apparel, footwear, gear).
- OEM/ODM manufacturing contracts and licensing revenues.
- Channel sales via own stores, e-commerce platforms and wholesale partners.
- Technology and chip investments-licensing, component sales and integration services as acquisitions are integrated.
| Metric | Value |
|---|---|
| Market capitalization (Oct 2025) | 7.38 billion CNY |
| Q1 2025 net profit | 0.107 billion CNY |
| Q1 2025 net profit YoY change | -30.7% |
| Main business segments | Outdoor Products, Manufacturing, Chip & Tech Investments |
| Key strategic focus | Integrate chip acquisitions; recover outdoor market sales |
- Revenue mix (approximate): outdoor products >70%, manufacturing/OEM ~20%, chip/tech investments <10% (growing).
- Profitability pressure in 2025 driven by softer outdoor sales and integration costs related to chip acquisitions.
- Strategic acquisitions in the chip sector aim to add higher-margin tech revenue and diversify the consumer-discretionary profile.
Toread Holdings Group Co., Ltd. (300005.SZ) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.