上市企业：酷特智能[300840]、海澜之家[600398]、红豆股份[600400]、雅戈尔[600177]、九牧王 [601566] 相关企业：Armani、HugoBoss、罗蒙集团股份有限公司、华邦服饰公司、西安华宏名绅服饰有限公 司、蓝豹股份有限公司、福建柒牌集团有限公司、杰尼亚（中国）企业管理有限公司、乔治阿玛尼（上 海）商贸有限公司、雨果博斯（上海）商贸有限公司、拉尔夫劳伦贸易（上海）有限公司、侃纳乐商贸 （上海）有限公司、侃纳乐商贸（上海）有限公司 关键词：西服行业发展历程、西服产业链、西服产量、定制西服市场规模、西服市场竞争格局、西服行 业发展趋势 一、西服行业定义及分类 西服款式构成要素 内容概要：近年来，受服装行业景气度下降、市场广泛普及及国外市场竞争压力加大，我国西服产量和 需求量整体呈下降趋势。2015年我国西服套装产量5.94亿件，2024年我国西服套装产量约1.65亿件。随 着经济生活水平的提升，我国消费者对西服的要求越来越高，特别是对个性化形态造型及内在舒适性提 出了更高的要求。因此，个性化定制是西服行业的发展方向，市场需求不断增加。据统计，2024年我国 高端定制西服市场规模 ...

9月29日，九牧王涨0.93%，成交额2513.47万元。两融数据显示，当日九牧王获融资买入额367.89万 元，融资偿还375.62万元，融资净买入-7.72万元。截至9月29日，九牧王融资融券余额合计1.63亿元。 资料显示，九牧王股份有限公司位于福建省厦门市思明区宜兰路1号，成立日期2004年3月11日，上市日 期2011年5月30日，公司主营业务涉及男士商务休闲品牌服饰的生产和销售。主营业务收入构成为：男 裤51.28%，茄克18.81%，T恤15.36%，衬衫8.66%，西装3.79%，其他(补充)1.25%，其他0.85%。 截至6月30日，九牧王股东户数1.51万，较上期增加6.59%；人均流通股37979股，较上期减少6.18%。 2025年1月-6月，九牧王实现营业收入14.97亿元，同比减少5.02%；归母净利润1.74亿元，同比增长 248.54%。 分红方面，九牧王A股上市后累计派现50.90亿元。近三年，累计派现4.02亿元。 机构持仓方面，截止2025年6月30日，九牧王十大流通股东中，香港中央结算有限公司位居第九大流通 股东，持股715.10万股，相比上期减少196.43万股。 ...

Core Insights - Fujian has become a significant base for the garment industry, leveraging its geographical advantages and the influx of overseas orders and capital from local expatriates [2][4] - The seven major listed apparel companies from Fujian have rapidly transformed from local brands to national brands, achieving explosive growth in recognition and market presence [2][4] - The apparel industry in Fujian is characterized by a strong focus on both sportswear and traditional menswear, with distinct development trajectories for different brands [3][4] Group 1: Performance of Major Brands - Anta Group has entered the "trillion club" with record-breaking performance, achieving continuous growth for 12 years and surpassing both Nike China and Adidas China in revenue [10][12] - Xtep International has focused on the running segment, achieving significant profit growth by divesting from underperforming fashion segments and enhancing its product offerings [15][16] - 361° has seen a nearly 50% increase in stock price, driven by strong performance in both international and children's markets, with a focus on high-quality and cost-effective products [16][17] Group 2: Market Strategies and Innovations - Anta Group's strategy includes acquiring brands to fill market gaps and expanding its retail presence, with a notable focus on high-end outdoor and fashion segments [12][14] - Xtep has transformed its stores into "running social centers" and launched a new line of children's shoes aimed at supporting growth, enhancing its market position [15][16] - 361° has expanded its international footprint and optimized its store formats, launching a new type of store that aims for high sales volumes [18] Group 3: Specialized Product Lines - Jiumuwang has established itself as a leading men's pants expert, achieving a 248.54% increase in net profit by focusing on a diverse range of men's pants products [20][21] - Lilang has maintained a high gross margin above 50% while expanding its direct-to-consumer (DTC) model and enhancing its online sales channels [24][25] - Seven Wolves has positioned itself as a "jacket expert," achieving significant revenue growth through innovative product offerings and strategic brand partnerships [28][29] Group 4: Trends and Future Directions - The apparel industry in Fujian is witnessing a trend towards DTC models, multi-brand collaboration, and international expansion, with a focus on functional and scenario-based product offerings [33] - Companies are encouraged to either build a comprehensive brand portfolio like Anta or specialize in niche markets like Xtep and Jiumuwang to maximize their strengths [33]

Market Overview - The apparel and home textile sector declined by 1.12% on September 25, with Taimushi leading the drop [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Notable gainers included: - Qipilong (002029) with a closing price of 9.35, up 10.00% and a trading volume of 352,100 shares, totaling 324 million yuan [1] - ST Jinbi (002762) closed at 9.09, up 4.97% with a trading volume of 107,900 shares, totaling 97.27 million yuan [1] - ST Qibu (603557) closed at 2.60, up 4.84% with a trading volume of 245,400 shares, totaling 6.38 million yuan [1] - Major decliners included: - Taijing (001234) with a closing price of 32.20, down 10.01% and a trading volume of 47,000 shares, totaling 152 million yuan [2] - Hongdou (600400) closed at 3.61, down 5.74% with a trading volume of 3,849,700 shares, totaling 139.8 million yuan [2] - Tanluo (300005) closed at 8.70, down 4.81% with a trading volume of 511,700 shares, totaling 45.5 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 402 million yuan from institutional investors, while retail investors saw a net inflow of 373 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors pulling back while retail investors increased their positions [2] Individual Stock Capital Flow - Notable net inflows from institutional investors included: - Wanlima (300591) with a net inflow of 19.84 million yuan, representing 3.74% of total capital [3] - Zhiyaomeijia (003041) with a net inflow of 15.00 million yuan, representing 13.59% of total capital [3] - Kute Intelligent (300840) with a net inflow of 14.64 million yuan, representing 5.30% of total capital [3] - Conversely, significant net outflows from retail investors were observed in: - Zhiyaomeijia (003041) with a net outflow of 9.21 million yuan, representing -8.34% of total capital [3] - Kute Intelligent (300840) with a net outflow of 1.07 million yuan, representing -0.39% of total capital [3]

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]

Core Insights - The domestic men's clothing market is undergoing structural adjustments due to dual influences of consumption upgrading and rational consumption, with retail sales of clothing, shoes, and textiles reaching 742.6 billion yuan, a year-on-year increase of 3.1% in the first half of 2025 [1] - There is a clear divergence in industry performance, with leading brands adjusting strategies to meet the differentiated demands of younger consumers who prefer functional and personalized products, while mature consumers focus on quality and versatility [1][4] Financial Performance - HLA achieved revenue of 11.566 billion yuan, a slight increase of 1.73% year-on-year, with a net profit of 1.58 billion yuan [1] - Jiumuwang and Qipilang experienced revenue declines of 5.02% and 5.93% respectively, but Jiumuwang's net profit surged by 248.54%, indicating improved profitability [1] - Youngor's revenue and net profit decreased by 10.50% and 8.04% respectively due to challenges in its real estate and fashion segments [1] Product Innovation - Leading brands are increasing R&D investments to meet consumer demands for functionality and fashion, focusing on "technology fabrics + scenario-based design + cultural empowerment" [1][2] - Jiumuwang's "air conditioning pants" became a bestseller, selling over 90,000 units since its launch in April 2025, appealing to younger consumers [1] - Seven Wolves integrated cultural elements into product innovation, launching a multi-colored business travel series that incorporates local heritage designs and innovative materials [2] Channel Transformation - Brands are accelerating the integration of online and offline channels, enhancing retail efficiency and customer loyalty through structural optimization and experiential innovations [5][6] - HLA's online revenue reached 2.308 billion yuan, accounting for 20.54% of total revenue, with a year-on-year growth of 4.36% [6] - Seven Wolves' online business revenue reached 489 million yuan, making up over 30% of total revenue, supported by data-driven strategies and content innovation [6] Supply Chain Management - Brands are focusing on refining supply chain management to enhance efficiency, with Seven Wolves reducing product delivery cycles to 18 days, 25% faster than the industry average [9] - HLA established an "order sharing platform" with over 200 suppliers, improving inventory turnover and reducing stockout risks [9] Industry Challenges - Analysts suggest that Chinese men's clothing brands still have room for improvement in precise positioning and long-term development paths, with a need for enhanced brand management and differentiation strategies [10]

9月9日，九牧王跌0.56%，成交额2909.33万元。两融数据显示，当日九牧王获融资买入额282.71万元， 融资偿还424.73万元，融资净买入-142.02万元。截至9月9日，九牧王融资融券余额合计1.62亿元。 融资方面，九牧王当日融资买入282.71万元。当前融资余额1.62亿元，占流通市值的3.19%，融资余额 超过近一年90%分位水平，处于高位。 分红方面，九牧王A股上市后累计派现50.90亿元。近三年，累计派现4.02亿元。 机构持仓方面，截止2025年6月30日，九牧王十大流通股东中，香港中央结算有限公司位居第九大流通 股东，持股715.10万股，相比上期减少196.43万股。 责任编辑：小浪快报 融券方面，九牧王9月9日融券偿还1900.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00元； 融券余量2700.00股，融券余额2.39万元，低于近一年10%分位水平，处于低位。 资料显示，九牧王股份有限公司位于福建省厦门市思明区宜兰路1号，成立日期2004年3月11日，上市日 期2011年5月30日，公司主营业务涉及男士商务休闲品牌服饰的生产和销售。主营业务收入构成为：男 裤51 ...

（文章来源：证券日报） 证券日报网讯 9月4日晚间，九牧王发布公告称，截至本公告披露日，公司股东泉州市顺茂投资管理有 限公司（简称"顺茂投资"）持有公司股份27，650，000股，占公司总股本的4.8117%；顺茂投资及其一 致行动人合计持有公司股份35，150，095股，占公司总股本的6.1169%。内部转让股份计划的主要内 容：基于家庭资产配置及分配需要，顺茂投资拟将持有的公司股份通过大宗交易方式转让给其一致行动 人陈珍珠，转让数量为不超过1，200，000股，不超过公司总股本的0.2088%。 ...

Core Viewpoint - The internal share transfer among shareholders of Jomoo King involves Shunmao Investment transferring up to 1.2 million shares to its concerted party Chen Zhenzhu, representing 0.2088% of the total share capital [1]. Shareholding Situation - Shunmao Investment holds 27.65 million shares, accounting for 4.8117% of the total shares [2]. - The total shareholding of concerted parties amounts to 35.15 million shares, representing 6.1169% of the total shares [2]. - Chen Zhenzhu and Chen Peizhu are both daughters of Chen Jindun, the actual controller of Shunmao Investment, indicating a familial relationship among the shareholders [2]. Transfer Arrangement - The transfer period is set from September 26, 2025, to December 25, 2025 [2]. - The method of transfer will be through block trading [2]. Key Impact - The transfer is not expected to have any substantial impact as it is an internal transfer among concerted parties, which does not involve market reduction, does not trigger a mandatory bid, and will not change the total number or proportion of shares held by concerted parties, thus having no effect on the company's operations [2]. Reason for Transfer - The reason for the share transfer is attributed to family asset allocation and distribution needs [3]. - The shares being transferred were acquired prior to the IPO [3].

证券代码：601566 证券简称：九牧王 公告编号：2025-027 九牧王股份有限公司 关于股东及一致行动人内部转让股份的提示性公告 本公司董事会、全体董事及相关股东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： | 股东名称 顺茂投资 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 控股股东、实控人及一致行动人 | | | | | | | □是 | | √否 | | 直接持股 5%以上股东 | | | | | | □是 | √否 | | | | 股东身份 | | | | | | | | | | | 董事、监事和高级管理人员 | | | | | | | □是 | √否 | | | 其他：与一致行动人合计持股 | | | | | | 5%以上股东 | | | | | 持股数量 27,650,000股 | | | | | | | | | | | 持股比例 4.8117% | | | | | | | | | | | 当 ...