2025年2月28日公司董事会收到韩敏女士的书面辞职报告，韩敏女士因本人 职业发展规划，决定辞去公司副总经理、董事会秘书及在公司及其控股子公司担 任的所有职务。 根据有关规定，韩敏女士的辞职报告自送达董事会时生效。 证券代码：600315 证券简称：上海家化 公告编号：2025-008 上海家化联合股份有限公司 关于副总经理兼董事会秘书辞职的公告 特别提示 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个别及连带 责任。 公司董事会对韩敏女士在任职期间为公司发展所做的贡献表示衷心的感谢！ 特此公告。 上海家化联合股份有限公司董事会 2025年3月4日 在董事会秘书空缺期间，暂由公司首席财务官罗永涛先生代行董事会秘书职 责。公司董事会将按照相关规定聘任新的董事会秘书并及时公告。 ...

Core Viewpoint - Shanghai Jahwa's 2024 annual performance forecast indicates a projected net profit loss of between -880 million to -710 million yuan, marking a year-on-year decline of at least 242%, which will be the company's first annual loss since its listing in 2001 [1][4]. Group 1: Financial Performance - The company attributes the anticipated loss to strategic adjustments, including reduced inventory in department stores, store closures, a shift from an online distributor model to a self-operated model leading to returns, and restructuring of the offline sales department [1][5]. - Despite a significant year-on-year drop of 58%, the company's net profit for the first three quarters of 2024 was recorded at 162 million yuan, with the main drag on performance being an impairment of goodwill amounting to 550 million to 680 million yuan [5][6]. Group 2: Business Impact - The decline in performance is significantly influenced by the overseas business of the Tommee Tippee brand, which has faced challenges due to low birth rates, intensified competition in the baby products category, and reduced inventory by distributors, resulting in a net profit decrease of 140 million yuan in 2023 [2][5]. - The Tommee Tippee brand, which has historically been a major contributor to Shanghai Jahwa's revenue, reported a half-year net profit of only 22.36 million yuan in 2024, a staggering 62% year-on-year drop [2][5]. Group 3: Leadership and Strategic Direction - The disappointing results fall under the leadership of the new CEO Lin Xiaohai, who took over less than a year ago, following a period of frequent leadership changes since the departure of long-time CEO Ge Wenyue in 2013 [2][6]. - Under Lin Xiaohai's leadership, the overall performance of the beauty business has been poor, with the beauty division's quarterly revenue failing to exceed 100 million yuan, ranking last among four divisions [6]. Group 4: Product Development Challenges - The beauty brand Yuze, which was expected to perform well, has yet to establish a market-recognized flagship product. The anticipated launch of a new anti-aging series in the second half of 2024 received a lukewarm market response [3][6]. - Looking ahead to 2025, Yuze's core product, a barrier repair moisturizing cream, is set for its first upgrade, but current information does not indicate any groundbreaking innovations that could boost market expectations [3][6].

上海家化联合股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 | 回购方案首次披露日 | 2025/1/25 | | --- | --- | | 回购方案实施期限 | 董事会审议通过后 12 个月 | | 预计回购金额 | 万元 10,000.00 万元~20,000.00 | | 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 | 万股 232.85 | | 累计已回购股数占总股本比例 | 0.3464% | | 累计已回购金额 | 36,241,506 元 | | 实际回购价格区间 | 15.33 元/股~15.72 元/股 | 重要内容提示： 一、回购股份的基本情况 2025 年 1 月 23 日，上海家化联合股份有限公司（以下简称"公司"、"上海 家化"）召开八届二十三次董事会会议，审议通过了《关于以集中竞价交易方式 回购公司股份方案的议案 ...

证券简称：上海家化 证券代码：600315 公告编号：临 2025-006 上海家化联合股份有限公司 关于回购股份事项前十名股东和前十名无限售条件股东 持股情况的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 上海家化联合股份有限公司（以下简称"公司"、"上海家化"）于 2025 年 1 月 23 日召开八届二十三次董事会会议，审议通过了《关于以集中竞价交易方式 回购公司股份方案的议案》，决定使用不低于人民币 10,000.00 万元（含）且不超 过人民币 20,000.00 万元（含）的自有资金通过集中竞价交易方式回购公司股份， 用于实施员工持股计划或股权激励。具体内容详见公司于 2024 年 1 月 25 日在上 海证券交易所网站（www.sse.com.cn）披露的《上海家化联合股份有限公司关于 以集中竞价交易方式回购公司股份方案的公告》（公告编号：临 2025-001）、《上 海家化联合股份有限公司关于以集中竞价交易方式回购公司股份的回购报告书》 （公告编号：2025-002）。 上海家化联合股份有限公司董事会 ...

证券简称：上海家化 证券代码：600315 公告编号：临 2025-004 上海家化联合股份有限公司 关于以集中竞价交易方式首次回购公司股份的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 | 回购方案首次披露日 | 2025/1/25 | | --- | --- | | 回购方案实施期限 | 董事会审议通过后 个月 12 | | 预计回购金额 | 万元~20,000.00 万元 10,000.00 | | 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 | 万股 160.47 | | 累计已回购股数占总股本比例 | 0.2387% | | 累计已回购金额 | 24,996,367 元 | | 实际回购价格区间 | 15.33 元/股~15.72 元/股 | 本次回购公司股份符合法律法规的规定和公司回购股份方案的要求。 三、其他事项 公司将严格按照《上市公司股份回购规则》、《上海证券交易所上市公司自 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company is expected to report a significant loss in 2024, with a projected net profit attributable to shareholders ranging from -7.1 billion to -8.8 billion RMB, primarily due to goodwill impairment related to the overseas brand Tommee Tippee and strategic restructuring efforts [9] - A share repurchase plan has been announced, aiming to enhance employee motivation and confidence in future growth, with a total amount of 100 to 200 million RMB allocated for repurchasing 3.74 to 7.47 million shares [9] - The company is undergoing a strategic transformation, focusing on core brands, brand building, online sales, and operational efficiency, with organizational changes expected to improve long-term performance despite short-term revenue and profit impacts [9] Financial Forecasts - The company's total revenue is projected to decline from 6,598 million RMB in 2023 to 5,601 million RMB in 2024, before recovering to 6,267 million RMB in 2025 and 7,135 million RMB in 2026 [1] - The net profit attributable to shareholders is forecasted to be -858.08 million RMB in 2024, followed by a recovery to 262.53 million RMB in 2025 and 340.16 million RMB in 2026 [1] - The earnings per share (EPS) is expected to drop to -1.28 RMB in 2024, with a rebound to 0.39 RMB in 2025 and 0.51 RMB in 2026 [1]

证券简称：上海家化 证券代码：600315 公告编号：临 2025-001 上海家化联合股份有限公司 关于以集中竞价交易方式回购公司股份方案的公告 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 回购股份金额：不低于人民币 10,000.00 万元（含 10,000.00 万元， 下同），不高于人民币 20,000.00 万元（含 20,000.00 万元，下同）； 相关股东是否存在减持计划：经公司问询，截至本次回购方案董事 会决议日，公司控股股东、实际控制人、持股 5%以上的股东及董监高在未 来 3 个月、6 个月暂不存在减持计划。若未来拟实施减持计划，公司将按照 相关规定及时履行信息披露义务。 一、回购方案的审议及实施程序 2、若公司生产经营、财务状况、外部客观情况发生重大变化，或其他导致 公司董事会决定终止本次回购的事项发生，可能存在本次回购方案无法顺利实施 的风险； 3、本次回购股份将用于员工持股计划或股权激励，若公司未能在规定的期 限内实施上述用途，则存在已回购未转让股份被注销的风险； 4、如遇监管 ...

证券简称：上海家化 证券代码：600315 公告编号：临 2025-002 上海家化联合股份有限公司 关于以集中竞价交易方式回购公司股份的回购报告书 本公司董事会及全体董事保证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、准确性和完整性依法承担法律责任。 重要内容提示： 回购股份金额：不低于人民币 10,000.00 万元（含 10,000.00 万元， 下同），不高于人民币 20,000.00 万元（含 20,000.00 万元，下同）； 相关股东是否存在减持计划：经公司问询，截至本次回购方案董事 会决议日，公司控股股东、实际控制人、持股 5%以上的股东及董监高在未 来 3 个月、6 个月暂不存在减持计划。若未来拟实施减持计划，公司将按照 相关规定及时履行信息披露义务。 相关风险提示： 1、若本次回购期限内，公司股票价格持续超出回购方案披露的价格区间， 则存在本次回购方案无法实施的风险； 2、若公司生产经营、财务状况、外部客观情况发生重大变化，或其他导致 公司董事会决定终止本次回购的事项发生，可能存在本次回购方案无法顺利实施 的风险； 3、本次回购股份将用于员工持股计划或股权激励 ...

Core Viewpoint - The cosmetics market is facing unprecedented growth pressure, with a 1.1% year-on-year decline in retail sales for 2024, prompting Shanghai Jahwa United Co., Ltd. to issue a profit warning for the year, expecting a net loss of between 710 million to 880 million RMB [1][2]. Group 1: Financial Performance - Shanghai Jahwa anticipates a significant net loss for 2024 due to goodwill impairment and adjustments in its main business, with a projected net profit loss of 710 million to 880 million RMB compared to the previous year [1]. - The company plans to recognize a goodwill impairment of approximately 550 million to 680 million RMB, reflecting the impact of market conditions and strategic adjustments [2]. Group 2: Strategic Adjustments - The company is undergoing a series of strategic adjustments, including reducing inventory in department stores and transitioning from an agency model to a self-operated model, which has affected current revenue and profit but aims to enhance online development and brand building [2][5]. - Shanghai Jahwa's management is focusing on four key areas: core brands, brand building, online presence, and operational efficiency, to improve decision-making and organizational structure [5]. Group 3: Share Buyback and Future Outlook - The company announced a share buyback plan of 100 million to 200 million RMB to boost employee morale and align interests between employees and the company, reflecting confidence in future growth [4]. - Despite facing short-term challenges due to reforms, the company is gradually emerging from a low point and aims to regain market confidence while striving to become "the Procter & Gamble of China" [6].

Financial Performance Expectations - The company expects a net profit attributable to shareholders of the parent company for 2024 to be between -7.1 billion and -8.8 billion CNY, indicating a significant loss compared to a profit of 5.00 billion CNY in the previous year[4]. - The anticipated net profit after deducting non-recurring gains and losses is projected to be between -7.2 billion and -8.9 billion CNY for 2024[4]. Goodwill Impairment and Strategic Changes - The company plans to recognize goodwill impairment of 5.5 billion to 6.8 billion CNY due to the decline in revenue and gross profit from overseas operations[6]. - The main reasons for the expected loss include goodwill impairment, a strategic shift in business operations, and a decrease in investment income due to external economic conditions[6]. - The company has undergone strategic restructuring focusing on core brands, brand building, online presence, and operational efficiency, which has negatively impacted current revenue and profits[7]. Organizational Adjustments - The company has adjusted its organizational structure to enhance decision-making efficiency and attract new talent[7]. Financial Asset Valuation - The company’s financial assets have seen a significant decrease in fair value, contributing to reduced investment income[7]. - The performance forecast has not been audited by a registered accountant, and the final impairment amount will be determined by a qualified evaluation agency[9]. Operational Management - The company emphasizes that its production and operational management remain normal and are not affected by the goodwill impairment[10].