Financial Performance - The company's operating revenue for 2024 was CNY 1,959,074,407.04, a decrease of 15.93% compared to CNY 2,330,333,411.55 in 2023[22]. - The net profit attributable to shareholders for 2024 was a loss of CNY 238,176,848.12, compared to a profit of CNY 30,005,580.15 in 2023[22]. - The company's total assets decreased by 16.89% to CNY 4,377,907,789.50 in 2024 from CNY 5,267,393,828.74 in 2023[22]. - The basic earnings per share for 2024 was -CNY 0.10, down from CNY 0.01 in 2023[23]. - The weighted average return on equity for 2024 was -8.49%, a decrease of 9.48 percentage points from 0.99% in 2023[23]. - The decline in revenue was attributed to a cautious consumer sentiment and a slowdown in the apparel retail industry, resulting in a decrease of CNY 37,125.90 million in revenue[22]. - The gross profit margin decreased by 2.76 percentage points, leading to a reduction in gross profit of CNY 5,407.05 million[22]. - The company reported an increase in credit impairment losses by CNY 1,063.61 million compared to the previous year[22]. - The company faced intensified competition in the men's clothing market, contributing to the overall decline in performance[22]. - The company reported a cash flow from operating activities of RMB 102.08 million in Q4, recovering from previous negative cash flows in earlier quarters[29]. - The company’s cash flow from operating activities showed a net outflow of CNY 185,419,162.21, a significant decline from the previous year[59]. - The net cash flow from investing activities increased to 550,528,966.06 RMB in 2024, compared to -131,831,819.92 RMB in 2023[81]. - The net cash flow from financing activities was -567,914,034.87 RMB, reflecting an increase in cash used for debt repayment[82]. Business Strategy and Operations - The company plans not to distribute cash dividends or issue new shares for 2024 due to a negative net profit[6]. - The company plans to enhance its product management system and central distribution center to improve SKU efficiency and core category operations, aiming for better regional product adaptation[31]. - The company is leveraging AI technology for deeper data mining and precision marketing, enhancing its online sales strategy across major e-commerce platforms[43]. - The company is focusing on a comfort-centric product strategy, aiming to revolutionize its shirt category through technological advancements and design collaborations[31]. - The company is committed to accelerating digital transformation through smart manufacturing and flexible supply chains to improve operational efficiency[103]. - The company is optimizing its channel structure by accelerating market penetration in key provinces and closing underperforming stores, while piloting a franchise model in non-key provinces[106]. - The company is implementing a new marketing strategy to enhance store performance, focusing on weekend promotions and various marketing activities to boost sales during off-peak seasons[107]. - The company is expanding its product matrix by focusing on core items and seasonal bestsellers, while also exploring AI-driven retail solutions to improve operational efficiency and customer experience[107]. - The company is enhancing its e-commerce strategy by focusing on self-operated channels and leveraging marketing activities to increase daily sales, while also developing a brand co-operation model with high-quality platforms[108]. - The company is targeting the professional clothing market by establishing strategic offices and enhancing its service capabilities to meet the needs of key clients in finance and government sectors[108]. Market and Industry Insights - The company achieved a revenue of CNY 12,699.15 billion in the apparel industry, representing a year-on-year growth of 2.76%[48]. - The retail sales of apparel products in China reached CNY 10,716.2 billion in 2024, with a year-on-year growth of only 0.1%, a decrease of 15.3 percentage points compared to 2023[46]. - The company’s loss ratio among large-scale enterprises in the apparel industry reached 20.07%, an increase of 1.03 percentage points from 2023[48]. - The company focuses on the new consumer groups represented by Generation Z and the new middle class, driving market vitality through innovative consumption scenarios[48]. - The outlook for the domestic apparel market is expected to improve, with a potential recovery in sales growth due to low base effects from 2024[102]. Product Development and Innovation - The company achieved cumulative sales of over 2 million units for its "Red Bean Zero Feel Comfortable Shirt," which has been recognized as the market leader in its category by Euromonitor[31]. - The company has launched innovative products such as "0 Sensation Comfortable Shirt" and "Comfortable Pants," which have received multiple international design awards[54]. - The company has upgraded to a 5G smart factory, enhancing its production capabilities and achieving a fully integrated digital management platform[51]. - The production efficiency improved by over 32% due to the implementation of a 5G fully connected factory[55]. - The inventory of finished products was reduced by 30% as a result of digital applications in production[55]. Corporate Governance and Compliance - The company adheres to strict corporate governance practices, ensuring compliance with relevant laws and regulations, and maintaining transparency in its operations[112]. - The company has implemented measures to protect insider information and prevent insider trading, ensuring compliance with regulatory requirements[114]. - The company has established an environmental management system certified under ISO 14001:2015, covering various products including suits and protective clothing[153]. - The company has committed to reducing and standardizing related party transactions, ensuring that necessary transactions are conducted at fair market prices to protect the interests of the company and its shareholders[157]. - The company guarantees the independence of its financial accounting department and will not share bank accounts with its controlling entities[158]. Shareholder and Management Information - The company reported a total of 4,033,786 shares held by director Zhou Hongjiang at the beginning and end of the year, with no change[118]. - Director Dai Minjun's shareholding decreased by 690,000 shares due to the cancellation of equity incentives[118]. - Director Wang Changhui increased his shareholding by 3,182,900 shares through secondary market purchases and equity incentive cancellations[118]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 4.6955 million yuan (pre-tax)[125]. - The independent director's allowance is set at 65,000 yuan per year (pre-tax)[125]. Employee and Workforce Management - The company has a total of 3,681 employees, with 1,092 in the parent company and 2,589 in major subsidiaries[138]. - The employee composition includes 1,062 production staff, 2,179 sales personnel, 117 technical staff, 76 financial staff, and 247 administrative staff[138]. - The company has established a salary performance management system that includes responsibility wage system, position performance wage system, and commission wage system[139]. - The training program focuses on enhancing skills related to sales, management capabilities, and sharing best practices, with 259 cases and methods extracted in 2024[141]. Future Outlook and Strategic Initiatives - Future outlook indicates a focus on market expansion and new product development, aiming for a revenue growth target of 10% for the next fiscal year[119]. - The company is investing in new technologies, particularly in smart manufacturing, to enhance operational efficiency and product quality[120]. - A strategic acquisition is planned to enhance the company's market position and expand its product offerings in the textile industry[120]. - The management team has emphasized the importance of sustainability in operations, aiming for a 20% reduction in carbon footprint by 2025[120]. - The company has successfully implemented a new ERP system to streamline operations, which is expected to reduce costs by 10% annually[120].

Financial Performance - The company's operating revenue for Q1 2025 was ¥554,212,568.43, a decrease of 14.78% compared to ¥650,334,848.99 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥30,194,490.56, compared to a profit of ¥41,233,806.83 in the previous year, indicating a significant decline[3] - For the period from the beginning of the year to the end of the reporting period, the total revenue was RMB 534.05 million, a decrease of 11.66% compared to the previous year[11] - Total operating revenue for Q1 2025 was ¥554.21 million, a decrease of 14.76% compared to ¥650.33 million in Q1 2024[23] - Net profit for Q1 2025 was a loss of ¥30.02 million, compared to a profit of ¥41.93 million in Q1 2024, representing a significant decline[24] - Operating profit for Q1 2025 was a loss of ¥35.22 million, contrasting with a profit of ¥48.05 million in Q1 2024[24] - Total comprehensive income for Q1 2025 was a loss of ¥22.68 million, compared to a gain of ¥41.41 million in Q1 2024[25] - Basic and diluted earnings per share for Q1 2025 were both -¥0.01, compared to ¥0.02 in Q1 2024[25] Cash Flow and Assets - The net cash flow from operating activities improved by 66.78%, reaching -¥35,683,593.36, compared to -¥107,426,018.29 in the previous year[3] - Cash flow from operating activities for Q1 2025 was a net outflow of ¥35.68 million, an improvement from a net outflow of ¥107.43 million in Q1 2024[28] - Cash and cash equivalents at the end of Q1 2025 stood at ¥907.08 million, down from ¥1,046.03 million at the end of Q1 2024[28] - The total current assets as of March 31, 2025, were RMB 1,913.36 million, down from RMB 2,121.39 million at the end of 2024[18] - The total liabilities decreased from RMB 1,775.37 million to RMB 1,579.79 million[20] Profitability and Margins - The gross profit margin decreased by 5.86%, leading to a reduction in gross profit of ¥32,472,000[5] - The gross profit margin for the overall business was 34.57%, down 8.21% year-on-year[11] - The revenue from direct stores was RMB 191.41 million, down 11.30% year-on-year, with a gross margin of 45.18%[13] Store Operations - The number of direct-operated stores for the HOdo men's clothing brand was 485 at the end of March 2025, down from 496 at the end of 2024[9] - The number of franchise stores decreased from 504 to 471, indicating a net closure of 12 stores in the same period[9] - The company reported a total of 956 stores at the end of March 2025, with a net decrease of 48 stores during the first quarter[9] Investments - The company invested RMB 1 million in Jiangsu Aiyuwen Robot Co., Ltd., acquiring a 5% stake, which will not significantly impact operations or performance[12] - The company also plans to invest RMB 600,000 in Wuxi Fuxin Robot Co., Ltd., representing 30% of the registered capital, with no significant impact expected on operations[14] Inventory and Expenses - The company reported a decrease in inventory from RMB 307.28 million to RMB 215.08 million year-on-year[18] - Research and development expenses for Q1 2025 were ¥4.93 million, a slight decrease from ¥5.21 million in Q1 2024[24] Taxation - The company reported a significant increase in tax expenses, with a tax benefit of -¥3.66 million in Q1 2025 compared to a tax expense of ¥5.12 million in Q1 2024[24] Market Strategy - The company is focusing on improving consumer confidence and demand to counteract the challenging external environment[5]

江苏红豆实业股份有限公司 专项说明 2024年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 江苏红豆实业股份有限公司 红豆股份公司管理层的责任是提供真实、合法、完整的相关资料，按照《上海 证券交易所股票上市规则》、《上海证券交易所上市公司自律监管指南第2号——业 务办理》的规定编制扣除情况表，并保证其内容真实、准确、完整，不存在虚假 记载、误导性陈述或重大遗漏。 三、注册会计师的责任 2024 年度营业收入扣除情况的专项核查意见 苏公W[2025]E1316号 江苏红豆实业股份有限公司全体股东： 为了更好地理解红豆股份公司2024年度营业收入扣除情况，扣除情况表应当与 已审的财务报表一并阅读。 二、管理层的责任 我们接 ...

江苏红豆实业股份有限公司 专项说明 2024年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国．江苏．无锡 Wuxi．Jiangsu．China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 根据《上海证券交易所上市公司自律监管指引第 5 号-交易与关联交易》的要求， 红豆股份公司縖制了本专项说明所附的 2024 年度涉及财务公司关联交易的存款、贷款 等金融业务汇总表（以下简称汇总表）。 如实縖制和对外披露汇总表，并确保其真实、准确、合法及完整是红豆股份公司管 理层的责任。我们对汇总表所载资料与我们审计红豆股份公司 2024 年度财务报表时所 复核的会计资料和经审计的财务报表的相关内容进行了核对，在所有重大方面没有发现 不一致。除了对红豆股份公司实施 2024 年度财务报表审计中所执行的关联交易有关的 审计程序外，我 ...

关于江苏红豆实业股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 关于江苏红豆实业股份有限公司 2024 年度非经营性资金占用及其他关联资金往来情况表 单位：万元 | 饰销售有限公司 | 人 | | | | | | | | 往来 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 无锡宏福服饰销售 | 子公司及其控制的法 | 其他应收款 | 517.94 | 113.83 | 0.00 | 191.68 | 440.09 | 资金往来款 | 非经营性 | | 有限公司 | 人 | | | | | | | | 往来 | | 镇江市洪福服饰销 | 子公司及其控制的法 | 其他应收款 | 1,360.83 | 347.83 | 0.00 | 182.55 | 1,526.11 | 资金往来款 | 非经营性 | | 售有限公司 | 人 | | | | | | | | 往来 | | 济南和谦服饰销售 | 子公司及其控制的法 | 其他应收款 | 665.28 | 264.10 | 0.00 | 189.99 | 73 ...

您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进行 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进行了 风险评估审核报告 天衡专字(2025) 00102 号 红豆集团财务有限公司: 我们接受委托,审核了红豆集团财务有限公司(以下简称"红豆财务")管理层 编制的截至 2024年12月31日与财务报表相关风险控制体系的风险评估说明。建立 健全并合理设计风险管理并保持其有效性,风险管理政策与程序的真实性和完整性 是红豆财务管理层的责任。我们的责任是对红豆财务与财务报表有关的风险评估说 明发表意见。 我们按照《中国注册会计师其他鉴证业务准则第 3101 号-历史财务信息审计或 审阅以外的鉴证业务》的规定执行了审核业务。该准则要求我们计划和实施审核工 作,以对红豆财务关于风险管理的评价是否不存在重大错报获取合理保证。我们在 审核过程中,实施了包括了解、测试和评价红豆财务与财务报表编制有关的风险管 理设计的合理性和执行的有效性,以及我们认为必要的其他程序。我们相信,我们 的审核为发表意见提供了合理的基础 ...

江苏红豆实业股份有限公司 内部控制审计报告 2024年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国. 江苏. 无锡 Wuxi . Jiangsu . China 总机：86 (510)68798988 Tel： 86 (510)68798988 传真：86 (510)68567788 Fax： 86 (510)68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 内部控制审计报告 苏公W[2025]E1317号 江苏红豆实业股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了江苏红豆实业股份有限公司（以下简称红豆股份公司）2024年12月31日 的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规舃》、《企业内部控制应用指引》、《企业内部控制 评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是红豆股份 公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作 ...

江苏红豆实业股份有限公司 专项说明 2024年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国. 江苏. 无锡 Wuxi . Jiangsu . China 总机：86 (510)68798988 Tel： 86 (510)68798988 传真：86 (510)68567788 Fax： 86 (510)68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 公证天业会计师事务所 附件:关于江苏红豆实业股份有限公司 2024 年度非经营性资金占用及其他关联资 金往来情况表 关于江苏红豆实业股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况的专项说明 苏公W[2025]E1318号 江苏红豆实业股份有限公司全体股东： 我们接受委托，按照中国注册会计师审计准则审计了江苏红豆实业股份有限公司 （以下简称红豆股份公司）财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负 债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表 ...

江苏红豆实业股份有限公司 审计报告 2024年度 公证天业会计师事务所（特殊普通合伙） Gongzheng Tianye Certified Public Accountants, SGP 中国 . 江苏 . 无锡 Wuxi . Jiangsu . China 总机：86（510）68798988 Tel：86（510）68798988 传真：86（510）68567788 Fax：86（510）68567788 电子信箱：mail@gztycpa.cn E-mail：mail@gztycpa.cn 审计报告 苏公 W[2025]A736 号 江苏红豆实业股份有限公司全体股东： 一、审计意见 我们审计了江苏红豆实业股份有限公司（以下简称红豆股份公司）财务报表，包括 2024年12月31日的合并及母公司资产负债表，2024年度的合并及母公司利润表、合并及 母公司现金流量表、合并及母公司所有者权益变动表以及相关财务报表附注。 我们认为，后附的财务报表在所有重大方面按照企业会计准则的规定縖制，公允反 映了红豆股份公司2024年12月31日的合并及母公司财务状况以及2024年度的合并及母 公司经营成果和现金流量。 二 ...

股票代码：600400 股票简称：红豆股份 编号：临 2025-021 江苏红豆实业股份有限公司 关于全资子公司利润分配的公告 江苏红豆实业股份有限公司 董 事 会 2025 年 4 月 23 日 江苏红豆实业股份有限公司（以下简称"公司"）全资子公司无锡红豆织造 有限公司（以下简称"红豆织造"）、无锡红豆运动科技有限公司（以下简称"红 豆运动"）、无锡红豆国际贸易有限公司（以下简称"红豆国贸"）于近日召开了 股东会，审议通过利润分配方案。 截至 2024 年 12 月 31 日，红豆织造可供全体股东分配的利润为 57,845,828.69 元，红豆织造决定以现金方式向股东分配利润 50,000,000.00 元，剩余未分配利 润转存以后年度分配。公司持有红豆织造股权的比例为 100%，可取得分红款 50,000,000.00 元。 截至 2024 年 12 月 31 日，红豆运动可供全体股东分配的利润为 22,161,197.86 元，红豆运动决定以现金方式向股东分配利润 15,000,000.00 元，剩余未分配利 润转存以后年度分配。公司持有红豆运动股权的比例为 100%，可取得分红款 15,000,0 ...