Is Metersbonwe profitable in 2025?

Inconsistent. Metersbonwe posted a net loss of about -¥78.9M in Q3 2025 but small profits of +¥6.4M in Q1 2025 and +¥3.5M in Q2 2025, per WSJ data. Full-year FY2025 revenue fell to ¥450.24M, down 33.86% YoY, showing continued structural weakness despite occasional quarterly profits.

Is Metersbonwe's revenue declining?

Yes, sharply. Revenue dropped from ¥1.36B in FY2023 to ¥680.72M in FY2024 (down 49.79%) and to ¥450.24M in FY2025 (down 33.86%), per stockanalysis.com data as of 2026-07-06. That is roughly a 67% cumulative decline over two years.

Who owns Metersbonwe?

Founder Zhou Chengjian is the controlling shareholder and actual controller of Shanghai Metersbonwe Fashion & Accessories Co. Ltd. (SZSE: 002269), holding approximately 49.13% of shares as of 2020. His daughter Hu Jiajia has also served as chair/president.

Could AI replace Metersbonwe's design and forecasting functions?

Metersbonwe historically produced about 3,000 designs per year (per SCMP, 2020) using traditional processes, with no public evidence of AI-driven design, demand forecasting, or inventory tools, while rivals like Shein and UNIQLO deploy such AI at scale, leaving it structurally exposed.

Who is Metersbonwe's biggest competitor?

Domestically, Zhejiang Semir Garment (SZSE: 002563) dwarfs it with a market cap around ¥14.9B versus Metersbonwe's ¥3.3B as of 2026. Globally, UNIQLO posted double-digit China profit growth in the quarter to May 2026, while Shein and Temu pressure the fast-fashion segment.

Is Metersbonwe at risk of being delisted from the Shenzhen Stock Exchange?

No official *ST delisting-risk designation for ticker 002269 was confirmed as of mid-2026. However, SZSE widened price limits for *ST stocks from 5% to 10% on 2026-07-06 to curb shell speculation, a sector-wide reform relevant to distressed small-caps like Metersbonwe.

Consumer brands · China

Metersbonwe Fashion & Accessories Co., Ltd.

metersbonwe.com ↗

Chinese youth casualwear retailer and manufacturer, once a national brand, now shrinking fast.

Little protection left

Assessed 25 July 2026 · Evidence as of 25 July 2026

Not much stands between this business and its pressures.

On the recordSince 25 July 2026 · Checkable from H1 2026 · Every call on the record Checkpoint: H1 2026 earnings filing, watch for *ST delisting-risk designation or revenue stabilization

The call

A once-dominant youth apparel brand now losing ground on every front, with no visible plan to stop the slide.

Metersbonwe sells clothing and accessories in China, but its revenue has dropped by two-thirds in two years while its store network and workforce have collapsed. Bigger, better-funded competitors like UNIQLO, Shein, and domestic peer Semir are not blocked from taking its customers, and they use artificial intelligence to design clothes faster, predict what people want to buy, and manage inventory better, while Metersbonwe shows no sign of doing the same. The one thing that could matter is if the company stops the bleeding in the next few quarters and starts reporting how many stores it actually has, which would show whether it can stabilize its costs and survive.

Why

AI pressure: AI-driven demand forecasting and livestream commerce tools used by Shein and Temu. Rivals use AI to predict trends and sell via livestream in real time; Metersbonwe shows no sign of matching this. Could AI do the core job? Yes, likely.

Bigger players: UNIQLO (Fast Retailing), Shein, Temu, and domestic peer Semir (SZSE: 002563). Revenue fell from ¥1.36B to ¥450M in two years while these rivals expanded in the same market. Could a giant copy it? Yes, easily.

What protects it. A recognizable legacy brand name and a remaining franchise network, but neither is stopping the decline.

What would change this call

SZSE flags Metersbonwe (002269) with an *ST delisting-risk designation. Would confirm the downside case that decline has become existential.
Metersbonwe posts two consecutive quarters of non-negative YoY revenue growth. Would show the multi-year revenue collapse has stabilized.
Metersbonwe discloses current total store count in a filing. Would reveal how much fixed-cost overhang remains from its former ~4,700-store network.

Key numbers

Revenue down 67% over two years, ¥1.36B to ¥450M (2025)
Employee count fell from 5,000+ to 1,061 (2025-08)
Q3 2025 net loss of about ¥78.9M after two profitable quarters (2025-Q3)

Named risks

Revenue collapsed roughly 67% cumulatively from FY2023 to FY2025. Severity: high
Volatile quarterly results including a -¥78.9M net loss in Q3 2025 raise delisting-risk concerns. Severity: high
No documented AI adoption in design, forecasting, or inventory while rivals scale AI use. Severity: medium
Historical governance issues including chairwoman blacklisted for store rent arrears in 2020. Severity: medium
Current store count unreported, obscuring fixed-cost overhang assessment. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
UNIQLO (Fast Retailing)	losing to	UNIQLO posted double-digit China profit growth in quarter to 2026-05 amid soft retail sales
Shein	losing to	Ultra-fast-fashion pressure cited in Forever 21 closure case, 2025
Temu	losing to	Ultra-low-price disruption pattern noted across fast-fashion sector, 2025
Zhejiang Semir Garment (SZSE:002563)	losing to	Semir market cap approximately ¥14.9B vs Metersbonwe's ¥3.3B, 2026

Questions people ask

Is Metersbonwe profitable in 2025?: Inconsistent. Metersbonwe posted a net loss of about -¥78.9M in Q3 2025 but small profits of +¥6.4M in Q1 2025 and +¥3.5M in Q2 2025, per WSJ data. Full-year FY2025 revenue fell to ¥450.24M, down 33.86% YoY, showing continued structural weakness despite occasional quarterly profits.
Is Metersbonwe's revenue declining?: Yes, sharply. Revenue dropped from ¥1.36B in FY2023 to ¥680.72M in FY2024 (down 49.79%) and to ¥450.24M in FY2025 (down 33.86%), per stockanalysis.com data as of 2026-07-06. That is roughly a 67% cumulative decline over two years.
Who owns Metersbonwe?: Founder Zhou Chengjian is the controlling shareholder and actual controller of Shanghai Metersbonwe Fashion & Accessories Co. Ltd. (SZSE: 002269), holding approximately 49.13% of shares as of 2020. His daughter Hu Jiajia has also served as chair/president.
Could AI replace Metersbonwe's design and forecasting functions?: Metersbonwe historically produced about 3,000 designs per year (per SCMP, 2020) using traditional processes, with no public evidence of AI-driven design, demand forecasting, or inventory tools, while rivals like Shein and UNIQLO deploy such AI at scale, leaving it structurally exposed.
Who is Metersbonwe's biggest competitor?: Domestically, Zhejiang Semir Garment (SZSE: 002563) dwarfs it with a market cap around ¥14.9B versus Metersbonwe's ¥3.3B as of 2026. Globally, UNIQLO posted double-digit China profit growth in the quarter to May 2026, while Shein and Temu pressure the fast-fashion segment.
Is Metersbonwe at risk of being delisted from the Shenzhen Stock Exchange?: No official *ST delisting-risk designation for ticker 002269 was confirmed as of mid-2026. However, SZSE widened price limits for *ST stocks from 5% to 10% on 2026-07-06 to curb shell speculation, a sector-wide reform relevant to distressed small-caps like Metersbonwe.

Timeline

2026-Q1TTM revenue to Q1 2026 hits ¥443.5M, down 18.58% YoY; quarterly revenue ¥136.31M
2026-07-06SZSE widens daily price limits for *ST distressed stocks from 5% to 10%
2025-Q3Net loss of approximately -¥78.9M reported
2025-08-07Employee count recorded at 1,061, down from over 5,000 circa 2007
2025FY2025 revenue falls to ¥450.24M, down 33.86% YoY
2024FY2024 revenue falls to ¥680.72M, down 49.79% YoY
2022-04Largest flagship store in Shanghai closed, symbolizing retrenchment
2020-06-29Chairwoman Hu Jiajia blacklisted for unpaid store rent arrears
2020Store network estimated at approximately 4,700 locations
2000-12Corporate entity Shanghai Metersbonwe Fashion & Accessories Co., Ltd. incorporated

Revision history

25 July 2026

First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.

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