Group 1 - The company announced a share buyback of 3,360,000 shares, which represents 0.07% of its total share capital [2]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：600177 证券简称：雅戈尔 公告编号：2025-038 雅戈尔时尚股份有限公司 关于首次回购公司股份暨增加回购专用证券账户的公告 重要内容提示： | 回购方案首次披露日 | 2025/8/30 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 8 月 8 | 28 | 日~2026 | 年 | 月 | 27 日 | | 预计回购金额 | 50,000万元~96,000万元 | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | | □用于转换公司可转债 □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 336万股 | | | | | | | 累计已回购股数占总股本比例 | 0.07% | | | | | | | 累计已回购金额 | 2,481.21万元 | | | | | | | ...

Group 1 - The company announced its first share repurchase through centralized bidding on September 17, 2025, acquiring 3.36 million shares, which represents 0.07% of the total share capital [1] - The highest purchase price was 7.45 CNY per share, while the lowest was 7.28 CNY per share [1] - The total amount paid for the repurchase, including transaction fees, was 24.81 million CNY [1]

Group 1 - The company announced a share repurchase plan with a total expected amount of 500 million to 960 million yuan, aimed at employee stock ownership plans or equity incentives [1] - The implementation period for the repurchase plan is from August 28, 2025, to August 27, 2026 [1] - On September 17, the company repurchased 3.36 million shares, accounting for 0.07% of the total share capital, at a payment amount of 24.81 million yuan, with a repurchase price range of 7.28 to 7.45 yuan per share [1] Group 2 - To enhance capital efficiency, the company received a loan commitment letter from Agricultural Bank of China Ningbo Mingzhou Branch on September 9 [1] - The company has recently completed the establishment of a dedicated securities account for the repurchase loan, while other details of the repurchase plan remain unchanged [1] - The company will implement the repurchase in accordance with regulations and disclose information in a timely manner [1]

Market Overview - The Shanghai Composite Index closed at 3876.38 points, above the six-month moving average, with an increase of 0.38% [1] - The total trading volume of A-shares reached 1,956.132 billion yuan [1] Stocks Breaking the Six-Month Moving Average - A total of 57 A-shares have surpassed the six-month moving average today [1] - Notable stocks with significant deviation rates include: - United Optoelectronics: 3.70% [1] - Longxin General: 3.64% [1] - *ST Nanzhi: 3.60% [1] - Other stocks with smaller deviation rates that just crossed the six-month line include Honghai Technology, Rhine Biology, and Qijing Machinery [1] Top Stocks by Deviation Rate - The following stocks have the highest deviation rates from the six-month moving average: - United Optoelectronics (300691): 5.42% increase, trading at 19.64 yuan [1] - Longxin General (603766): 7.15% increase, trading at 13.04 yuan [1] - *ST Nanzhi (002305): 4.91% increase, trading at 2.35 yuan [1] - Other notable stocks include: - Huangting International (000056): 6.31% increase, trading at 3.20 yuan, deviation rate of 3.29% [1] - Berteli (603596): 6.65% increase, trading at 54.39 yuan, deviation rate of 3.11% [1] Additional Stocks with Positive Performance - Other stocks with positive performance and deviation rates include: - Airong Software (920799): 4.29% increase, trading at 60.76 yuan, deviation rate of 2.91% [1] - Yingshisheng (300377): 4.65% increase, trading at 24.77 yuan, deviation rate of 2.59% [1] - Zhengfan Technology (688596): 4.28% increase, trading at 37.01 yuan, deviation rate of 2.42% [1]

Group 1 - The core viewpoint of the news highlights the performance of the Zhongzheng Dividend Low Volatility 100 Index and its constituent stocks, with significant gains observed in companies like Tebian Electric Apparatus and Pudong Construction [2] - As of September 17, 2025, the Zhongzheng Dividend Low Volatility 100 ETF has seen a price increase of 0.28%, reaching 1.07 yuan, and a cumulative increase of 3.52% over the past three months [2] - The liquidity of the Zhongzheng Dividend Low Volatility 100 ETF is noted, with a turnover of 1.04% and a trading volume of 13.73 million yuan on September 16, 2025 [2] Group 2 - The State-owned Assets Supervision and Administration Commission (SASAC) reported that central enterprises have invested 8.6 trillion yuan in strategic emerging industries since the 14th Five-Year Plan, significantly increasing from the previous period [2] - The investment focus includes sectors such as integrated circuits, biotechnology, and new energy vehicles, with notable advancements in humanoid robots and superconducting quantum computing [2] - According to Everbright Securities, the investment logic in the dividend sector is shifting from style-driven to stock-driven, with traditional high-dividend industries like construction materials and coal showing strong performance [3] Group 3 - The latest scale of the Zhongzheng Dividend Low Volatility 100 ETF reached 1.317 billion yuan, marking a one-year high, with the number of shares also reaching 1.238 billion, another one-year high [3] - The ETF has experienced continuous net inflows over the past five days, with a peak single-day net inflow of 26.6582 million yuan, totaling 59.1668 million yuan in net inflows [3] - The Zhongzheng Dividend Low Volatility 100 Index tracks 100 stocks characterized by good liquidity, continuous dividends, high dividend yields, and low volatility, reflecting the overall performance of such securities [3]

9月17日，雅戈尔盘中上涨2.06%，截至11:19，报7.44元/股，成交1.34亿元，换手率0.39%，总市值 343.98亿元。 资金流向方面，主力资金净流入1432.57万元，特大单买入1908.40万元，占比14.29%，卖出935.67万 元，占比7.01%；大单买入3427.65万元，占比25.66%，卖出2967.81万元，占比22.22%。 雅戈尔今年以来股价跌12.68%，近5个交易日涨2.06%，近20日涨0.68%，近60日涨1.36%。 资料显示，雅戈尔时尚股份有限公司位于浙江省宁波市海曙区鄞县大道西段2号，成立日期1993年6月25 日，上市日期1998年11月19日，公司主营业务涉及以品牌服装为主体的时尚产业,其他业务包括地产开 发和投资。主营业务收入构成为：房地产/旅游板块52.66%，服装板块41.47%，纺织板块7.67%，投资 板块0.26%。 雅戈尔所属申万行业为：纺织服饰-服装家纺-非运动服装。所属概念板块包括：低市盈率、破净股、金 融科技、互联金融、新零售等。 截至6月30日，雅戈尔股东户数9.04万，较上期增加6.92%；人均流通股51130股，较上期减少6.47 ...

Group 1 - The core viewpoint highlights that both YOUNGOR Group and Hailan Group have diversified their operations beyond clothing, achieving significant revenue milestones [1][2] - YOUNGOR Group reported a total revenue of 1645.72 billion yuan, ranking 162nd in the 2025 China Enterprises 500 list and 45th in the 2025 China Private Enterprises 500 list [1] - Hailan Group achieved a total revenue of 1458.21 billion yuan, ranking 188th in the same list, and is recognized for its substantial revenue scale despite a decline in net profit [2] Group 2 - YOUNGOR's revenue for 2024 was 141.88 billion yuan, showing a year-on-year growth of 3.19%, while its net profit decreased by 19.41% to 27.67 billion yuan due to industry adjustments and weak consumer demand [1] - Hailan Group maintains a revenue scale exceeding 200 billion yuan, positioning itself among the leading casual wear companies despite a decline in both revenue and net profit [2] - Both companies have diversified into various sectors, including fashion, retail, international trade, investment, sports tourism, and financial investment [1][2]

Group 1: Key Insights on Companies - In the 2025 China Top 500 Enterprises list, several companies that started in the apparel industry have diversified into conglomerates, with Youngor Group ranking 162nd and reporting a revenue of 164.57 billion yuan [1] - Youngor Group's fashion business, while well-known, constitutes only a small part of its overall operations, which include fashion, commercial retail, international trade, and investment [1] - Haier Group, ranked 188th with a revenue of 145.82 billion yuan, also has a diversified business model beyond its well-known apparel segment [2][4] - Taiping Bird Group, which debuted on the list at 476th, reported a revenue of 51.28 billion yuan, marking a decline for the third consecutive year [4] Group 2: Financial Performance - Youngor Group's revenue for 2024 was 14.19 billion yuan, showing a year-on-year growth of 3.19%, but its net profit decreased by 19.41% to 2.77 billion yuan due to industry adjustments and weak consumer demand [1] - Haier Group maintained over 20 billion yuan in revenue despite a decline in both revenue and net profit [2] - Taiping Bird Group's total revenue was 6.80 billion yuan, down 12.7%, with a net profit of 260 million yuan, reflecting a 38.7% decrease [4]

Core Insights - The traditional apparel industry in A-shares continues to face pressure, with many companies reporting declines in revenue and net profit, indicating a deep adjustment period [1][2][3] Industry Overview - The overall performance of the traditional apparel sector remains under pressure, with many companies experiencing a continuation of the revenue and net profit declines seen in 2024 [1] - The children's clothing segment shows relative stability, with leading company Semir achieving revenue growth, while the women's and men's clothing markets are relatively flat, with significant declines in fashion women's wear [1][4] - The industry is transitioning from "channel scale competition" to "user value competition," as companies increase direct-to-consumer (DTC) store openings while reducing franchise stores [1][6] Company Performance - Semir's revenue reached 6.149 billion yuan, a 3.26% increase, but net profit fell by 41.17% [2] - Taiping Bird's revenue decreased by 7.86% to 2.898 billion yuan, with net profit down 54.61% [2] - Other companies like YOUNGOR, Baoxini, and Qipilang also reported revenue declines, while Haizhu's revenue increased by 1.73% but net profit decreased by 3.42% [2][4] - The children's clothing market is performing better, with 45.9% of consumers indicating increased spending on children's clothing [4] Strategic Shifts - Many companies are focusing on opening flagship stores in key urban areas, moving away from the franchise model to enhance brand experience [5][6] - Taiping Bird is implementing a "super store" strategy, opening large flagship stores to integrate multiple brands [5] - YOUNGOR has strengthened its direct sales channels, with over 95% of sales coming from direct stores [6] Investment Trends - Several apparel companies are showing a preference for investment to boost profits, with Langzi Co. reporting a 64% increase in net profit due to stock sales [7] - Jiuzhou Wang's net profit surged by 248.54%, attributed to gains from financial asset valuations [7] - Baoxini's financial assets increased dramatically by 2072.73%, indicating a shift towards financial investments to offset core business pressures [8]