证券代码：600400 证券简称：红豆股份 公告编号：临 2025-046 江苏红豆实业股份有限公司 关于以集中竞价交易方式回购股份的进展公告 一、 回购股份的基本情况 江苏红豆实业股份有限公司（以下简称"公司"）于 2025 年 4 月 28 日召开 第九届董事会第二十一次会议，审议通过了《关于以集中竞价交易方式回购股份 方案的议案》，同意公司使用自有资金以集中竞价交易方式回购公司股份，回购资 金总额不低于人民币 1,000 万元（含）且不超过人民币 2,000 万元（含），回购股 份价格不超过人民币 3.45 元/股（含），回购股份期限为自公司董事会审议通过回 购方案之日起不超过 12 个月。本次回购的股份将用于公司股权激励计划。具体内 容详见公司于 2025 年 5 月 6 日在上海证券交易所网站（www.sse.com.cn）及《上 海证券报》上刊登的《江苏红豆实业股份有限公司关于以集中竞价交易方式回购 股份的回购报告书》（公告编号：临 2025-031）。 二、 回购股份的进展情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关规定，在回购期间，公司应 ...

Group 1 - The company, Hongdou Co., Ltd. (SH 600400), announced that as of August 31, 2025, it has repurchased approximately 990,000 shares, accounting for 0.04% of its total share capital, with a total expenditure of about 2.17 million yuan [1][1][1] - The highest purchase price for the repurchased shares was 2.21 yuan per share, while the lowest was 2.17 yuan per share [1][1][1] - As of the report date, the market capitalization of Hongdou Co., Ltd. is 5.5 billion yuan [1][1][1] Group 2 - For the fiscal year 2024, the revenue composition of Hongdou Co., Ltd. is as follows: the clothing industry accounts for 92.44%, grey cloth accounts for 2.91%, other businesses account for 2.77%, and other operations account for 1.88% [1][1][1]

Group 1 - The company Hongdou Co., Ltd. (stock code: 600400.SH) announced that as of August 31, 2025, it has repurchased a total of 990,500 shares, accounting for 0.04% of the total share capital [1] - The highest purchase price for the repurchased shares was 2.21 yuan per share, while the lowest was 2.17 yuan per share [1] - The total amount paid for the repurchased shares, excluding commissions and transfer fees, was 2,167,205.00 yuan [1]

Core Points - The Shanghai Composite Index closed at 3875.53 points, above the annual line, with a gain of 0.46% [1] - The total trading volume of A-shares reached 27,776.47 billion yuan [1] - A total of 48 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates include: - Energy-saving Iron Han (300197) with a deviation rate of 8.60% and a daily increase of 9.00% [1] - ST Quanwei (300716) with a deviation rate of 8.58% and a daily increase of 11.10% [1] - Qidi Environment (000826) with a deviation rate of 7.10% and a daily increase of 10.26% [1] - Other stocks with smaller deviation rates that just crossed the annual line include: - Haitong Development, Jiangyan Group, and Te Fa Service [1] Trading Data - The trading data for stocks that broke the annual line includes: - Energy-saving Iron Han: Latest price 2.30 yuan, annual line 2.12 yuan, turnover rate 7.87% [1] - ST Quanwei: Latest price 10.91 yuan, annual line 10.05 yuan, turnover rate 6.44% [1] - Qidi Environment: Latest price 2.15 yuan, annual line 2.01 yuan, turnover rate 9.23% [1]

本次财报公布的各项数据指标表现不尽如人意。其中，毛利率33.49%，同比减18.41%，净利 率-12.53%，同比减401.9%，销售费用、管理费用、财务费用总计3.71亿元，三费占营收比42.69%，同 比增11.03%，每股净资产1.06元，同比减16.19%，每股经营性现金流0.01元，同比增121.18%，每股收 益-0.05元，同比减350.0% 业务评价：去年的净利率为-12.1%，算上全部成本后，公司产品或服务的附加值不高。从历史年报数据 统计来看，公司近10年来中位数ROIC为3.9%，中位投资回报较弱，其中最惨年份2024年的ROIC 为-5.31%，投资回报极差。公司历史上的财报非常一般，公司上市来已有年报24份，亏损年份1次，需 要仔细研究下有无特殊原因。 商业模式：公司业绩主要依靠营销驱动。需要仔细研究这类驱动力背后的实际情况。 财报体检工具显示： 建议关注公司现金流状况（近3年经营性现金流均值/流动负债仅为12.99%） | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 10.81亿 | ...

Core Viewpoint - Jiangsu Hongdou Industrial Co., Ltd. reported a significant decline in revenue and net profit for the first half of 2025, primarily due to intense competition in the apparel industry and weak consumer demand [2][3]. Financial Performance - The company's operating income for the first half of 2025 was approximately 868 million yuan, a decrease of 19.73% compared to the same period last year [2][10]. - The total profit for the period was a loss of approximately 110 million yuan, compared to a profit of about 60 million yuan in the previous year [2]. - The net profit attributable to shareholders was approximately -109 million yuan, down from 44 million yuan in the same period last year [2]. - The company's net cash flow from operating activities was approximately 22 million yuan, a significant improvement from a negative cash flow of over 106 million yuan in the previous year [2][10]. Industry Overview - The apparel industry is facing challenges with a reported 30.67% loss rate among large-scale enterprises, an increase of 1.68 percentage points from the previous year [3]. - Consumer spending on clothing has shown a modest increase of 2.1% year-on-year, but the growth rate has slowed compared to previous years [3]. - The online retail sales of clothing increased by only 1.4% in the first half of 2025, indicating a lack of robust demand [3]. Business Strategy - The company focuses on men's clothing production and sales, with a product range that includes shirts, suits, trousers, jackets, T-shirts, and sweaters [3]. - The brand has established a dual business model comprising full-domain retail and customized professional attire, targeting both online and offline sales channels [3][4]. - The company is enhancing its product offerings by introducing innovative items such as "0-sense comfortable shirts" and "cooling pants" to improve market competitiveness [4][8]. Operational Adjustments - The company is optimizing its store network by focusing on high-quality commercial properties and expanding its presence in shopping malls while closing underperforming stores [5]. - Marketing strategies have been revamped to include holiday promotions and digital marketing techniques to boost customer engagement and sales [5][6]. - The company is also leveraging digital technologies to enhance operational efficiency, achieving a 32% increase in production efficiency and a 30% reduction in inventory [9].

Core Points - Jiangsu Hongdou Industrial Co., Ltd. reported a significant decline in financial performance for the first half of 2025, with total revenue decreasing by 19.73% year-on-year to CNY 86,803.78 million [1] - The company experienced a net loss attributable to shareholders of CNY 10,901.90 million, compared to a profit of CNY 4,422.22 million in the same period last year [1] - The decline in performance is attributed to intense competition in the apparel industry and insufficient consumer demand, leading to a decrease in sales and gross profit margin [1] Financial Summary - Total assets at the end of the reporting period were CNY 390,927.63 million, down 10.70% from CNY 437,790.78 million at the end of the previous year [1] - Net assets attributable to shareholders decreased by 4.09% to CNY 243,962.86 million from CNY 254,369.01 million [1] - The net cash flow from operating activities was CNY 2,247.79 million, a significant improvement from a negative cash flow of CNY 10,637.70 million in the previous year [1] Shareholder Information - The total number of shareholders as of the reporting period was 55,620 [2] - The largest shareholder, Hongdou Group Co., Ltd., holds 59.03% of the shares, with a total of 1,352,708,418 shares [2] - Other notable shareholders include Zhou Haijiang with 2.53% and Wuxi Honghong Garment Co., Ltd. [2]

Core Points - The board of directors of Jiangsu Hongdou Industrial Co., Ltd. held its 22nd meeting on August 28, 2025, where several resolutions were unanimously passed [1][2][3][4] Group 1: Financial Reports and Risk Assessment - The board approved the 2025 semi-annual report and its summary with a unanimous vote of 9 in favor [1] - A risk assessment report regarding the ongoing business relationship with Hongdou Group Financial Co., Ltd. was presented and approved [1] Group 2: Governance and Management Policies - The board approved the "Board Member Departure Management System" [2] - The "Information Disclosure Management System" was revised and approved [2] - The "Information Disclosure Delay and Exemption Internal Management System" was also revised and approved [2] - The "Related Party Transaction Management System" was revised and approved [3] - The "Insider Information Registrant System" was revised and approved [3] - The "Independent Director Special Meeting System" was revised and approved [3] - The "Management System for Changes in Shares Held by Directors, Supervisors, and Senior Management" was revised and approved [4] - The "Fundraising Management System" was revised and approved [4] - The "Accountability System for Major Errors in Annual Report Information Disclosure" was revised and approved [4]

Group 1 - The core point of the article is that Hongdou Co., Ltd. reported a significant decline in revenue and incurred a loss in the first half of 2025 [1] Group 2 - The company achieved an operating income of 868 million yuan, representing a year-on-year decrease of 19.73% [1] - The company reported a loss of 109 million yuan, compared to a net profit of 44.22 million yuan in the same period last year [1]

股票代码：600400 股票简称：红豆股份 编号：临 2025-045 江苏红豆实业股份有限公司 第九届董事会第二十二次会议决议公告 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。 江苏红豆实业股份有限公司第九届董事会第二十二次会议于 2025 年 8 月 28 日在公司会议室召开。会议通知已提前以书面、电话等方式通知各位董事。本次 会议采取现场表决和通讯表决相结合的方式，会议应到董事 9 人，实际出席董事 9 人。会议由董事长周宏江先生主持，公司其他高级管理人员列席了会议，符合 《公司法》和《公司章程》的规定。经全体董事审议，一致通过了如下决议： 一、关于公司 2025 年半年度报告全文及其摘要的议案 表决结果：9 票同意，0 票反对，0 票弃权 该议案已经公司董事会审计委员会会议审议通过，同意提交董事会审议。 二、关于对红豆集团财务有限公司风险持续评估报告的议案 公司针对 2025 年半年度与红豆集团财务有限公司的业务开展情况，出具了 《江苏红豆实业股份有限公司关于对红豆集团财务有限公司风险持续评估的报 告》，具体内容详见 ...