Investment Rating - The investment rating for the company is "Accumulate" [4] Core Views - The company's main apparel business remains stable, with a gross margin increase of nearly 4 percentage points year-on-year [2] - In the first half of 2024, the company achieved operating revenue of 1.081 billion yuan, a year-on-year decrease of 1.33%, while the net profit attributable to the parent company was 44 million yuan, down 5.77% year-on-year [1][2] - The company is focusing on a classic comfortable menswear strategy and enhancing product development to meet consumer demand [4] Financial Summary - **Revenue and Profitability**: - 2022A revenue was 2,341 million yuan, with a slight decline in 2023A to 2,330 million yuan, but expected to grow to 2,394 million yuan in 2024E [1][5] - The net profit attributable to the parent company is projected to increase from 30 million yuan in 2023A to 60 million yuan in 2024E, reflecting a 100% year-on-year growth [1][7] - **Gross Margin and Expenses**: - The gross margin for the first half of 2024 was 41.05%, an increase of 3.85 percentage points year-on-year [2] - The expense ratio for the same period was 39.27%, up 2.35 percentage points, leading to a net profit margin of 4.15%, down 0.29 percentage points year-on-year [2] - **Earnings Per Share (EPS)**: - The latest diluted EPS is projected to be 0.03 yuan in 2024E, with further growth to 0.04 yuan in 2026E [1][4] Business Performance - **Main Business Segments**: - The apparel segment generated 1.019 billion yuan in revenue in the first half of 2024, a year-on-year increase of 0.64% [2] - Retail store revenue grew by 6.77% year-on-year to 556 million yuan [1][2] - **Brand and Marketing Strategy**: - The company is enhancing its multi-channel marketing strategy and leveraging social media platforms for brand promotion [2] - It is also focusing on developing core products and a flexible supply chain to improve profitability [2][4]

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 关于以集中竞价交易方式回购股份的进展公告 证券代码：600400 证券简称：红豆股份 公告编号：临 2024-065 重要内容提示： 截至 2024 年 8 月底，公司已累计回购股份 5,129,156 股，占公司总股本的比 例为 0.22%，购买的最高价为 2.53 元/股、最低价为 2.07 元/股，已支付的总金额为 12,054,600.04 元（不含佣金、过户费等交易费用）。 本次回购股份符合相关法律法规的规定及公司回购股份方案的要求。 | 回购方案首次披露日 | 2024/4/16 | | --- | --- | | 回购方案实施期限 | 待公司董事会审议通过后 12 个月 | | 预计回购金额 | 2,000 万元~4,000 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 | 512.92 万股 | | 累计已回购股数 ...

股票代码：600400 股票简称：红豆股份 编号：临 2024-064 一、本次计提减值准备的概况 为客观、公允地反映江苏红豆实业股份有限公司（以下简称"公司"）2024 年半年度的财务状况和经营成果，根据《企业会计准则》及公司会计政策等相关 规定，基于谨慎性原则，公司对截至 2024 年 6 月 30 日合并报表范围内的各类资 产进行了充分的评估和分析，根据测试结果对存在减值迹象的资产相应计提了减 值准备。2024 年半年度公司计提各类资产减值准备共计-4,505,293.97 元，具体情 况如下： | | 项目 | 计提金额（元） | | | --- | --- | --- | --- | | 信用减值损失 | 坏账损失 | | 4,258,885.54 | | 资产减值损失 | 存货跌价损失 | | -8,764,179.51 | | | 合计 | | -4,505,293.97 | 二、本次计提减值准备事项的具体说明 1、坏账损失 根据《企业会计准则第 22 号——金融工具确认和计量》的规定，公司对以 摊余成本计量的金融资产，以预期信用损失为基础确认损失准备。如果有客观证 据表明某项金融资产已经发生信 ...

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 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，江苏红豆实业股份有限公司（以下简称"本公司"）通过查验红豆集团 财务有限公司（以下简称"财务公司"）《金融许可证》《营业执照》等证件资料， 审阅财务公司定期财务报告及相关资料，对财务公司的经营资质、业务和风险状 况进行了持续评估，具体情况报告如下： 一、财务公司的基本情况 财务公司成立于 2008 年，系经中国银行业监督管理委员会批准成立的非银 行金融机构（《金融许可证》机构编码：L0095H332020001），持有无锡市锡山区 行政审批局换发的统一社会信用代码为 91320205682168731C 的《营业执照》。 财务公司注册资本为 16.32 亿元，其中红豆集团有限公司认缴出资 74,582.40 万 元，持股比例 45.70%；本公司认缴出资 55,977.60 万元，持股比例 34.30%；江 苏通用科技股份有限公司认缴出资 32,640.00 万元，持股比例 20.00%。 注册地址：无锡市锡山区东港镇锡港东路 2 号 企业类型：有限责任公司 ...

Financial Performance - The company reported a revenue of CNY 1,081,394,430.53 for the first half of 2024, a decrease of 1.33% compared to CNY 1,095,983,710.60 in the same period last year[14]. - Net profit attributable to shareholders was CNY 44,222,207.25, down 5.77% from CNY 46,929,428.38 year-on-year[14]. - The net profit after deducting non-recurring gains and losses decreased by 39.91%, amounting to CNY 22,283,125.26 compared to CNY 37,080,686.44 in the previous year[14]. - The company experienced a significant decline in cash flow from operating activities, reporting a net cash outflow of CNY 106,377,004.95, compared to a net outflow of CNY 9,044,496.92 in the same period last year, representing a decrease of 1,076.15%[14]. - Total assets decreased by 7.23% to CNY 4,886,548,975.97 from CNY 5,267,393,828.74 at the end of the previous year[14]. - The company's net assets attributable to shareholders decreased by 1.24% to CNY 2,917,413,442.99 from CNY 2,954,089,390.51 at the end of the previous year[14]. - The basic earnings per share remained unchanged at CNY 0.02, while the diluted earnings per share also stayed at CNY 0.02[15]. - The weighted average return on net assets decreased by 0.05 percentage points to 1.50% from 1.55% year-on-year[15]. - The company reported a net cash flow from operating activities of -CNY 106.38 million, a significant decline of 1,076.15% compared to the previous year[26]. - Total revenue for the reporting period was CNY 1.081 billion, down 1.33% from CNY 1.096 billion in the same period last year[26]. - The company reported a net loss of 44,359,300.87 RMB for the first half of 2024[99]. - The total comprehensive income for the first half of 2024 was CNY -35.80 million, compared to CNY 56.75 million in the same period of 2023, reflecting a significant decline[88]. Business Operations - The clothing business achieved a revenue of CNY 101,865.25 million, a year-on-year increase of 0.64%, while the retail store business saw a revenue increase of 6.77% to CNY 55,646.13 million[16]. - The company's main business focuses on men's clothing production and sales, including shirts, suits, trousers, jackets, T-shirts, and sweaters, with a strong brand presence recognized as a "Chinese famous trademark"[19]. - The company has established a comprehensive retail strategy, leveraging both offline and online channels, with a focus on second and third-tier cities and major e-commerce platforms like Tmall and JD[19]. - The company has developed a strong research and development advantage, collaborating with renowned designers and achieving multiple international product quality certifications[20]. - The company's manufacturing efficiency has improved by over 32% through the implementation of a 5G fully connected factory, which has also reduced inventory by 30%[20]. - The company aims to enhance its market position by focusing on high-quality, comfortable men's apparel, aligning with consumer demand for comfort and style[20]. - The retail strategy includes a robust online presence and membership management to drive consumer engagement and sales growth[20]. - The company is navigating a complex market environment, facing challenges such as weak global economic growth and geopolitical tensions, while still focusing on leveraging domestic demand for sustainable growth[19]. Financial Management - The company reduced its R&D expenses by 32.30% to CNY 8.87 million, primarily due to a decrease in salaries for R&D personnel[26]. - The company achieved a 7.38% reduction in operating costs, totaling CNY 637.46 million, compared to CNY 688.27 million in the previous year[26]. - The company reported a 29.64% increase in financial expenses, amounting to CNY 18.27 million, compared to CNY 14.09 million in the previous year[26]. - The company has secured a total credit limit of CNY 1.35 billion from various banks, with guarantees provided by the controlling shareholder, Hongdou Group, amounting to CNY 824 million[54]. - The company has a maximum deposit balance of CNY 750 million with its financial services company, with a total credit limit of CNY 900 million[55]. - The company reported a total investment cost of 300 million RMB in stock investments, with a current book value of 3,575,233.49 RMB[37]. - The company has established an independent financial accounting department and management system to ensure financial decision-making autonomy[51]. Shareholder Information - The company plans to distribute a cash dividend of CNY 0.10 per 10 shares to all shareholders based on the total share capital as of the dividend record date[3]. - As of July 31, 2024, the total share capital of the company is 2,296,571,852 shares, after deducting 4,186,056 shares held in the repurchase account[45]. - The total number of shares decreased by 3,680,000, resulting in a new total of 2,296,571,852 shares[66]. - The total number of shareholders reached 40,212 by the end of the reporting period[68]. - The largest shareholder, Hongdou Group Co., Ltd., holds 1,352,708,418 shares, representing 58.90% of total shares[69]. - The company completed the repurchase and cancellation of 312,000 shares of restricted stock on June 20, 2024[66]. - The total number of unrestricted circulating shares is 2,291,371,852, accounting for 99.77% of total shares[65]. Related Party Transactions - The company has committed to minimizing related party transactions and ensuring fair pricing in any necessary transactions with its controlling shareholders[49]. - The company guarantees the independence of its management and assets, ensuring no improper occupation of funds or assets by related parties[49]. - The company reported a total balance of related party transactions amounting to 136,415,052.13 RMB at the end of the period, with a net increase of 12,335,109.76 RMB during the reporting period[58]. - The company’s total related party loans at the end of the period amounted to 0.00 RMB, indicating no outstanding loans[61]. - The company’s financial transactions with related parties are primarily for daily operational needs, with no significant adverse effects reported[58]. Market Environment - The textile and apparel industry experienced a steady growth trend in the first half of 2024, with a retail sales growth of 3.7% year-on-year, although clothing retail sales showed a weaker performance with a 1.3% increase[19]. - The company is facing market risks due to economic fluctuations and competition in the men's clothing industry, necessitating strategic adjustments[41]. Compliance and Governance - The company has committed to maintaining an independent organizational structure and ensuring that its governance bodies operate independently[49]. - The company has not disclosed any new employee stock ownership plans or other incentive measures during the reporting period[47]. - The company has not reported any measures taken to reduce carbon emissions during the reporting period[48]. - The company’s financial statements are prepared based on the assumption of going concern, indicating no significant doubts about its ability to continue operations[105]. - The company’s accounting policies comply with the relevant enterprise accounting standards, ensuring accurate financial reporting[107].

股票代码：600400 股票简称：红豆股份 编号：临 2024-062 江苏红豆实业股份有限公司 2024 年半年度利润分配方案公告 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。 重要内容提示： 每股分配比例：每 10 股派发现金红利 0.10 元（含税）。 本次利润分配以实施权益分派股权登记日登记的总股本（扣除回购专用 账户中的回购股份）为基数，具体日期和数量将在权益分派实施公告中明确。 激励授予股份回购注销等致使公司总股本或有权参与权益分派的股数发生变动 的，公司拟维持每股分配比例不变，相应调整分配总额。如后续总股本发生变化， 将另行公告调整情况。 根据公司 2023 年年度股东大会决议，授权董事会全权办理中期利润分配相 关事宜，本次利润分配方案无需提交股东大会审议。 二、公司履行的决策程序 1、董事会会议的召开、审议和表决情况 2024 年 8 月 27 日，公司第九届董事会第十七次会议审议通过了《关于公司 2024 年半年度利润分配方案的议案》，本次利润分配方案符合《公司章程》规定 的利润分配政策以及股东大会的授权范 ...

第九届监事会第九次会议决议公告 股票代码：600400 股票简称：红豆股份 编号：临 2024-063 江苏红豆实业股份有限公司 本公司监事会及全体监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监事会第九次会议于 2024 年 8 月 27 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监事。本次会议 采取现场表决方式，会议应到监事 3 人，实到监事 3 人。会议由监事会主席龚新 度先生主持，符合《公司法》和《公司章程》的有关规定。会议审议通过了如下 议案： 一、关于公司 2024 年半年度报告全文及其摘要的议案 公司监事会对董事会编制的 2024 年半年度报告进行了认真审核，与会全体 监事一致认为： 1、公司 2024 年半年度报告的编制和审议程序符合法律、法规和《公司章程》 的规定； 2、公司 2024 年半年度报告内容和格式符合中国证监会和上海证券交易所的 各项规定，所包含的信息能从各个方面真实地反映出公司的经营管理和财务状况 等事项； 3、在公司监事会提出本意见前，未发现参与 2024 年 ...

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。 股票代码：600400 股票简称：红豆股份 编号：临 2024-061 江苏红豆实业股份有限公司 第九届董事会第十七次会议决议公告 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十七次会议于 2024 年 8 月 27 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，公司监事和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 2024 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 二、关于公司 2024 年半年度利润分配方案的议案 根据公司2024年半年度报告（未经审计），截至2024年6月30日母公司报表 中可供全体股东分配的利润为847,912,667.15元。经董事会研究，公司决定以实 ...

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。 股票代码：600400 股票简称：红豆股份 编号：临 2024-058 江苏红豆实业股份有限公司 第九届董事会第十六次临时会议决议公告 表决结果：9 票同意，0 票反对，0 票弃权 2024 年 8 月 24 日 江苏红豆实业股份有限公司第九届董事会第十六次临时会议于 2024 年 8 月 23 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，公司监事和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： 二、关于公司为资产出售提供资产抵押的议案 具体内容详见上海证券交易所网站（www.sse.com.cn）《江苏红豆实业股份 有限公司关于公司为资产出售提供资产抵押的公告》。 表决结果：9 票同意，0 票反对，0 票弃权 特此公告。 江苏红豆实业股份有限公司 董 事 会 一、关于出售物流配送中 ...

一、交易概述 股票代码：600400 股票简称：红豆股份 编号：临 2024-059 江苏红豆实业股份有限公司 关于出售资产的公告 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。 重要内容提示： 江苏红豆实业股份有限公司（以下简称"公司"）拟向无锡金港启笛 物流发展有限公司（以下简称"金港启笛"）出售公司物流配送中心相关资产， 交易价格为 555,911,872.80 元（含税）。 本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办 法》规定的重大资产重组。 本次交易已经公司第九届董事会第十六次临时会议审议通过，无须提 交公司股东大会审议；本次交易已经金港启笛上级国有资产监督管理部门审议同 意。 本次出售资产事项尚需交易双方根据协议完成款项支付、产权交割等 手续后方能正式完成，敬请投资者注意投资风险。 根据公司战略发展规划，为进一步优化资产结构、盘活存量资产，公司拟向 金港启笛出售公司物流配送中心相关资产（以下简称"标的资产"）。经双方友 好协商，参考评估报告并结合标的资产的总投入金额，本次交易价格确定为 555,9 ...