长江商报消息 ●长江商报公益记者 杨蝶 近日，中国社会福利基金会、新疆生产建设兵团民政局及兵团慈善总会、广东都市丽人实业有限公司 （以下简称"都市丽人"，02298.HK）在兵团第三师图木舒克市共同举行"都市丽人行"公益项目捐赠仪 式，都市丽人现场向兵团困难女性职工群众捐赠了价值500万元的内衣。 责编：ZB 3月，都市丽人公益步伐还迈进了湖南省郴州市资兴市汤溪镇。据了解，汤溪镇相对偏远，部分女性面 临着基础生活物资尤其是贴身衣物短缺的问题。都市丽人了解到这一迫切需求后，迅速精心挑选并捐赠 了1万件包括文胸、内裤等在内的多品类内衣产品，为她们提供舒适、健康的贴身关怀。 此后，都市丽人又继续走进河南省永城市、江苏省徐州市、重庆等地开展公益行动，累计捐赠内衣逾6 万件。自2024年以来，都市丽人已在贵州、辽宁、广东等14个省份累计发放26万件内衣，惠及约10万名 城乡困难女性。 值得一提的是，2025年4月11日，都市丽人还奔赴新疆图木舒克，参与广东省东莞市代表团赴新疆开展 的"三项计划"交流活动暨"民营企业进边疆"行动，并向当地第一中心幼儿园捐款50万元。 据悉，自2008年支援汶川以来，都市丽人已持续投身公益 ...

6. 雍禾医疗（02279.HK） 盘中涨13%：与美团医药健康达成战略合作，共建医疗级毛发健康服务体 系，强化O2O服务生态。 7. 美图公司（01357.HK） 涨近4%：旗下AI影像创作智能体"RoboNeo"登顶App Store分类榜，通过自 然语言交互降低视觉创作门槛。 8. 宜搜科技（02550.HK） 跌超7%：以先旧后新方式配售6578.7万股（占扩大后股本14.6%），配售价 5.26港元较前日折让14.7%，募资3.46亿港元引发股权摊薄担忧。 点击蓝字，关注我们 今日上午港股 1. 造纸板块延续上行趋势 ：玖龙纸业（02689.HK）领涨板块，单日涨幅逾9%。公司近日向多个生产 基地发布第四轮「提价函」，宣布自8月1日起上调瓦楞纸及再生牛卡纸报价30元/吨，此为继7月1 日、10日及12日后的连续提价动作，反映行业供需结构优化。 2. 券商板块集体走强 ：中资券商股再度拉升，东方证券（03958.HK）涨超6%，中原证券 （01375.HK）涨5%，国联证券（01456.HK）涨逾4%。头部券商华泰证券（06886.HK）、中国银河 （06881.HK）均涨3.5%，申万宏源（0021 ...

近日，都市丽人在公益领域迎来又一次高光时刻。 都市丽人携手中国社会福利基金会展开"丽人公益行"新疆站活动，向图木舒克市捐赠5万件优质内衣，并获民政部与中国社会福利基金会的专题报道和高度 肯定。如全国人大社会建设委员会委员、中国社会福利基金会理事长詹成付在致辞中提到，此次对新疆生产建设兵团的捐赠将都市丽人履行社会责任的纪录 推向了新高度。 透过这场公益行动，我们也能更清晰看到其背后经营哲学、品牌战略与社会价值的深层共振与独到之处。 更可以看到，都市丽人所推动的公益行动并非"单向付出"，而是能够反哺企业经营，带来可持续发展动能的支点之一。这使其较好地构建起商业向善的完整 闭环。 具体可以从几个角度来理解： 其一，这场公益行动直观、深刻地诠释着都市丽人"国民品牌"的内核，也有望沉淀出更优的品牌资产。 这句话不仅揭示都市丽人公益的逻辑起点，也道出了国民品牌的本质—— 国民品牌从来不是冰冷的商业符号，而是与大众生活紧密相连、始终守护民生需 求的温暖存在。 而如今，在国家乡村振兴与共同富裕蓝图下，对边疆地区特殊群体的关怀显得尤为重要，内衣作为与女性生活朝夕相伴的贴身之物，直接影响着边疆女性的 身体感受和心理健康。为边疆女 ...

港股都市丽人(02298.HK)冲高回落，一度涨超27%，现涨超13%，成交额超465万港元。 ...

Group 1 - The article discusses the absurdities and challenges faced by women in the current fashion industry, particularly regarding women's pants and clothing design [1][3][19] - It highlights the discomfort and impracticality of women's clothing, such as pants that are poorly designed and do not fit well, leading to a sense of frustration among consumers [12][28][39] - The article points out the trend of women increasingly purchasing men's clothing due to better quality, comfort, and price, indicating a shift in consumer behavior [52][50][44] Group 2 - The article critiques the sizing inconsistencies in women's clothing, where sizes can vary dramatically between brands, making shopping a gamble [28][36][39] - It mentions the prevalence of "pink tax," where women pay more for clothing that is often of lower quality compared to men's clothing [50][52] - The article calls for a change in the fashion industry to prioritize comfort and practicality over aesthetics, suggesting that consumer demand could drive this shift [52][53]

Core Insights - The apparel industry in China is experiencing a slowdown in growth, with retail sales of clothing reaching 1,071.62 billion yuan in 2024, reflecting a mere 0.1% increase year-on-year, a significant decline of 15.3% compared to 2023 [1] - Among 25 selected publicly listed companies in the apparel sector, only 7 reported increases in both revenue and net profit, while 10 companies experienced declines in both metrics [1][2] Revenue and Profit Overview - In 2024, 15 companies reported a decline in net profit, and 13 saw a decrease in revenue. Notably, 10 companies experienced declines in both revenue and net profit [2] - Companies with declining performance include: - Baoxini: Revenue of 5.153 billion yuan, down 1.91%; net profit of 495 million yuan, down 29.07% [2][3] - Hailan Home: Revenue of 20.957 billion yuan, down 2.65%; net profit of 2.159 billion yuan, down 26.88% [2][3] - Sanfu Outdoor: Revenue of 800 million yuan, down 5.45%; net profit loss of 21 million yuan, down 158.83% [2][3] - Anzheng Fashion: Revenue of 2.034 billion yuan, down 6.23%; net profit loss of 124 million yuan, down 365.03% [2][3] - Aimer: Revenue of 3.163 billion yuan, down 7.71%; net profit of 163 million yuan, down 46.56% [2][3] Losses and Underperformance - Six companies reported losses, including: - Ge Li Si: Loss of 310 million yuan [4][5] - Sanfu Outdoor: Loss of 21 million yuan [4][5] - Anzheng Fashion: Loss of 124 million yuan [4][5] - Xinhe Shares: Loss of 67 million yuan [4][5] - Meibang Clothing: Loss of 195 million yuan [4][5] - Annai: Loss of 115 million yuan [4][5] Performance Rankings - The top three companies in revenue growth are: - 361 Degrees: 19.6% growth [7] - Tanshan: 14.44% growth [7] - Anta Sports: 13.6% growth [7] - The bottom three in revenue growth are: - Meibang Clothing: -49.79% [7] - Annai: -20.7% [7] - Xinhe Shares: -20.1% [7] Net Profit Growth Rankings - The top three companies in net profit growth are: - Urban Beauty: 197% growth [9] - Anta Sports: 52.4% growth [9] - Tanshan: 48.5% growth [9] - The bottom three in net profit growth are: - Meibang Clothing: -715.45% [9] - Ge Li Si: -392.99% [9] - Anzheng Fashion: -365.03% [9]

Financial Performance - The company's profit attributable to shareholders for the year ended December 31, 2024, was approximately RMB 126,157,000, representing a growth of about 197% compared to RMB 42,483,000 for the year ended December 31, 2023[9]. - The profit attributable to the owners of the company for the year ended December 31, 2024, was approximately RMB 126,157,000, an increase of about 197% compared to RMB 42,483,000 in 2023[19]. - Revenue from intimate apparel products was RMB 2,554,880,000, accounting for 84.9% of total revenue, while revenue from logistics and industrial projects was RMB 455,250,000, accounting for 15.1%[20]. - The company's revenue for the year ending December 31, 2024, is projected to be RMB 3,010.13 million, an increase from RMB 2,757.08 million for the year ending December 31, 2023[170]. - The gross profit margin for the group remained stable at approximately 45.7%, with the gross profit margin for intimate apparel products at about 47.3%[22]. E-commerce and Market Expansion - The e-commerce gross merchandise value (GMV) exceeded RMB 1.5 billion for the year ended December 31, 2024, marking a growth of over 100% compared to the previous year[14]. - The company successfully expanded its e-commerce business, achieving a total gross merchandise value (GMV) of approximately RMB 1.1 billion from related e-commerce platforms[26]. - The company successfully expanded its offline store network, achieving net growth in store numbers despite a challenging market environment[12]. - The "Pure Cotton Home" brand achieved a revenue growth of approximately 50% year-on-year in 2024, with expectations to double store numbers and revenue by 2025[13]. Cost Management and Financial Stability - Sales and marketing expenses decreased by approximately 7.5% to about RMB 1,019,925,000, primarily due to changes in e-commerce business strategy and optimized marketing investments[23]. - General and administrative expenses decreased by approximately 5.4% to about RMB 184,383,000, attributed to effective cost control measures[24]. - The net financial expenses decreased to approximately RMB 19,840,000, mainly due to a reduction in bank loan interest expenses[27]. - The group maintained a solid financial position with cash and cash equivalents of approximately RMB 621,871,000 and a current ratio of about 1.6 times[29]. - The total debt ratio was approximately 19.6%, indicating a slight decrease from 20.4% in the previous year[29]. Corporate Governance and Management - The company has a strong management team with extensive experience in operations and strategic planning, including independent directors with over 21 years of financial and accounting experience[50]. - The company has adopted the principles outlined in the Corporate Governance Code as per the Hong Kong Stock Exchange, except for the separation of roles between the Chairman and CEO[58]. - The board consists of 11 members, including 5 executive directors, 2 non-executive directors, and 4 independent non-executive directors[59]. - The company has implemented a mechanism to ensure the independence of the board, which is crucial for effective corporate governance[69]. - The company is committed to high standards of corporate governance, emphasizing quality management, transparency, and accountability to all shareholders[57]. Environmental, Social, and Governance (ESG) Initiatives - The company is committed to achieving carbon neutrality by 2060 and has integrated this concept into its business operations, complying with environmental regulations[110]. - The company has established an Environmental, Social, and Governance (ESG) working group to collect data and prepare the ESG report, ensuring regular reviews of its ESG performance[111]. - The company has achieved ISO 14001:2015 certification for its environmental management system, demonstrating its commitment to environmental protection and sustainability[160]. - The company aims to balance economic success with stakeholder expectations and environmental needs, reflecting its core values in daily operations[115]. - The company has implemented strict environmental management systems to minimize negative impacts on the environment and natural resources[172]. Employee Management and Workplace Culture - The company employed approximately 2,200 full-time employees as of December 31, 2024, down from 2,600 the previous year[39]. - The company emphasizes a diverse and inclusive work environment, with recruitment based on merit regardless of age, gender, or ethnicity[124]. - The company has implemented a comprehensive employee benefits system, including compliance with social insurance laws and additional commercial accident insurance for specific roles[126]. - The employee turnover rate increased to 20.86% in 2024 from 15.19% in 2023, with significant increases among females (22.55% vs. 16.14%) and employees under 30 (31.34% vs. 23.29%)[128]. - The company has achieved ISO45001:2018 certification for its occupational health and safety management system, reflecting its commitment to providing a safe working environment[133]. Community Engagement and Corporate Social Responsibility - The company has actively engaged in corporate social responsibility since 2009, contributing to community welfare through donations and support[112]. - The company participated in community charity activities, including tree planting and educational contributions, in 2024[183]. - The company donated 488 sets of thermal underwear and homewear to various community groups in 2024, supporting vulnerable populations[178]. - The company organized various employee engagement activities in 2024 to enhance team cohesion and promote a healthy work-life balance[129]. - The company is committed to corporate social responsibility and plans to continue giving back to society in the future[183].

Summary of Conference Call Company and Industry - The conference call pertains to a company in the apparel industry, specifically focusing on intimate wear and related products. Key Points and Arguments 1. **Revenue Growth**: The company reported a revenue of RMB 30.1 billion for 2024, representing a 9% increase from RMB 27.57 billion in 2023 [1][5][6]. 2. **Gross Margin Decline**: The gross margin decreased from 47.5% in the previous year to 45.7% in 2024, attributed to lower margins from industrial projects compared to core business [6][7]. 3. **Profit Increase**: The company's profit increased significantly, from approximately RMB 42 million in the previous year to RMB 126.1 million in 2024, marking a twofold increase [6][10]. 4. **Dividend Distribution**: The company initiated dividend payments for the first time post-pandemic, with a distribution of HKD 1.6 per share [6][10]. 5. **Sales Strategy Shift**: A strategic shift from self-operated to a combination of self-operated and joint-operated models was implemented, leading to a GMV of RMB 15.7 billion in 2023 [4][9][22]. 6. **Market Positioning**: The company aims to strengthen its market position in key provinces, focusing on both online and offline sales channels [19][21]. 7. **Brand Marketing Initiatives**: Significant investments in brand marketing were made, including partnerships with national sports teams and extensive advertising campaigns across various platforms [20][21]. 8. **Product Diversification**: The company introduced new product lines and maintained a focus on high-quality offerings, with a notable increase in sales for certain brands [11][25]. 9. **E-commerce Growth**: The e-commerce segment showed substantial growth, with a GMV increase of 100% year-over-year, indicating a strong online presence [22][42]. 10. **Inventory Management**: Effective inventory management strategies were highlighted, with a reduction of RMB 200 million in old inventory, contributing to improved gross margins [39][40]. Other Important but Possibly Overlooked Content 1. **Operational Efficiency**: The company emphasized improvements in operational efficiency and cost control, which contributed to better profit margins despite revenue challenges [9][15]. 2. **Future Outlook**: The management expressed optimism about future growth, particularly in e-commerce and market expansion in lower-tier cities [28][32]. 3. **Asset Utilization**: The company is actively working on asset optimization, including the sale of underperforming properties to enhance cash flow [43][44]. 4. **Shareholder Returns**: Discussions on shareholder returns included a focus on dividends rather than share buybacks, with a projected return rate of approximately 6% based on current share prices [44]. This summary encapsulates the essential insights from the conference call, highlighting the company's performance, strategic initiatives, and future outlook within the apparel industry.

尽管都市丽人实现了盈利，但是老牌内衣品牌的生存境况仍然艰难。 据都市丽人2024年财报，去年全年，都市丽人实现营业收入30.10亿元，同比增长9.18%；归母净利润 1.26亿元，同比增长196.96%。至此，都市丽人已经连续盈利三年，基本走出阵痛期。 都市丽人业绩上涨，主要归功于"卖厂房"带来的收益。去年，都市丽人的营收中有4.55亿元来自于产业 项目及物流分部收入。这部分收入为都市丽人贡献利润6000万元到7000万元，产业项目贡献利润比例大 概占比一半。 21世纪经济报道记者 吴抒颖 广州报道 这是传统制造业企业在面临增长瓶颈后，多数企业选择"激活"业绩的路径。得益于前期的布局，这类企 业坐拥区位价值较好的旧厂房以及旧仓库，通过更新改造出让能够释放一定的价值，在企业低潮之时也 可有力支撑业绩。 未来几年，都市丽人也不排除继续通过这种方式释放业绩。都市丽人董事长郑耀南表示，目前，都市丽 人在东莞市凤岗镇还有土地储备面积约11万平方米可供未来盘活。"我们还有几个类似的仓库，但是需 要有意向方明确需求并交付定金后才会正式启动旧改。目前还在市场摸底阶段。" 都市丽人并不排除未来继续倚重"卖厂房"来撑起业绩。尽管 ...

Core Viewpoint - After a painful transformation period, the company Urban Beauty has returned to a net profit level of over 100 million RMB for the first time in six years, driven not only by its lingerie business but also by significant income from property sales [1][2]. Financial Performance - In 2024, Urban Beauty achieved a revenue of 3.01 billion RMB, representing a year-on-year growth of 9.18%. The profit attributable to the owners was 126 million RMB, a substantial increase of 197% [1][2]. - The revenue breakdown shows that the core business of intimate apparel contributed 2.555 billion RMB, while non-core logistics and property sales contributed 132 million RMB and 323 million RMB, respectively [2][3]. Property Sales Contribution - The property sales generated over 300 million RMB in revenue, contributing approximately 60-70 million RMB to the company's profit after tax, which accounts for about half of the total profit for 2024 [4][6]. - The company has plans to continue selling properties based on existing industrial project resources, with a significant project in Dongguan contributing to this income [5][6]. E-commerce and Market Strategy - The main business of intimate apparel saw a revenue decline of 3.33%, primarily due to a 21.63% drop in e-commerce revenue, as the company shifted some e-commerce channels from direct sales to joint ventures [6][7]. - Despite the revenue decline, the e-commerce gross merchandise volume (GMV) exceeded 1.5 billion RMB, showing over 100% year-on-year growth, indicating a strategic focus on market share rather than immediate revenue [6][7]. Store Expansion and Future Plans - Urban Beauty opened 850 new stores in the past year, bringing the total to over 4,500, with a target of reaching 5,000 stores by 2025, focusing on store efficiency rather than just quantity [7]. - The company is also exploring international expansion through cross-border e-commerce, particularly in Southeast Asia, with ongoing research and planning [7].