证券代码：601566 证券简称：九牧王 公告编号：临 2025-024 九牧王股份有限公司 关于新增日常关联交易的公告 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个别及连带责任。 重要内容提示： 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 1、董事会表决情况和关联董事回避情况：2025 年 8 月 21 日，公司第六届 董事会第三次会议审议通过了《关于新增日常关联交易的议案》。因本议案涉及 关联交易，根据《上海证券交易所股票上市规则》的相关规定，关联董事陈加芽 回避表决，董事陈加贫因不同意《关于安徽经营权变更暨关联交易的议案》，认 为过渡期设置较长，公司应尽快完成交接并经营，而投了反对票，董事会以 7 票赞成，1 票反对，0 票弃权通过了该议案。 1 / 4 交易内容：九牧王股份有限公司（以下简称"公司"）拟委托经销商安 徽省九特龙投资有限公司（以下简称"安徽九特龙"）销售"九牧王" 品牌服饰产品，委托销售预计不超过人民币 3,000 万元，委托期限自合 同签订之日起至 2026 年 3 月 31 日止。 本议案经 ...

证券代码：601566 证券简称：九牧王 公告编号：临 2025-023 九牧王股份有限公司 关于安徽市场经营权变更暨关联交易的公告 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个别及连带责任。 重要内容提示： 一、关联交易概述 1 / 5 交易内容：九牧王股份有限公司（以下简称"公司"）拟收回安徽市场 经营权，同时对经销商安徽省九特龙投资有限公司（以下简称"安徽九 特龙"）的部分货品进行回购，并对相关门店的装修剩余价值予以折价 购买。预计回购货品及购买装修剩余价值的总金额不超过 3,000 万元。 本次交易的交割日为 2026 年 3 月 31 日。 本次交易构成关联交易，但未构成《上市公司重大资产重组管理办法》 规定的重大资产重组。本议案已经公司第六届董事会第三次会议审议通 过，不需提交股东大会审议。 过去12个月内公司及其子公司与同一关联人的关联交易达到3,000万元 以上，但未占公司最近一期经审计净资产绝对值 5%以上，无需提交股 东大会审议批准。除本次交易外，过去 12 个月内公司及其子公司未发 生与不同关联人的同类别的关联 ...

九牧王股份有限公司 第六届独立董事专门会议第一次会议决议 九牧王股份有限公司(以下简称"公司")第六届独立董事专门会议第一次 会议于 2025年8月20日以现场与通讯相结合的方式在厦门市思明区宜兰路1号 九牧王国际商务中心会议室召开。本次会议应到独立董事3人,实到独立董事3 人,全体独立董事共同推举本次会议由薛祖云先生主持,应独立董事要求公司董 事会秘书张景淳先生列席了会议。本次会议的召开符合《公司法》《公司章程》 及《独立董事工作细则》的规定。 薛祖云: 童锦治: 表决结果:3 票同意、0 票弃权、0 票反对 (以下无正文) 1/2 (本页无正文,为九牧王股份有限公司第六届独立董事专门会议第一次会议之签 署页) 九牧王股份有限公司独立董事: 与会独立董事就收回安徽市场经营权、新增日常关联交易的事项进行审议, 并发表了审核意见: 我们认真审阅了公司提供的《市场经营权变更协议》、新增日常关联交易等 相关资料,经核查后,认为:1、公司收回安徽市场的经营权,是公司推进直面 消费者业务的一个举措,有利于公司直接了解消费者和市场需求,有利于加强对 终端及存货的管理,符合公司长期经营发展的需求:2、本次回购原经销商的部 ...

证券代码：601566 证券简称：九牧王 公告编号：临 2025-022 九牧王股份有限公司 第六届董事会第三次会议决议公告 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个别及连带责任。 九牧王股份有限公司（以下简称"公司"）第六届董事会第三次会议于 2025 年 8 月 21 日以现场与通讯相结合的方式，在厦门市思明区宜兰路 1 号九牧王国 际商务中心五楼会议室召开，会议由董事长林聪颖先生主持。本次会议通知及相 关资料于 2025 年 8 月 18 日以专人送达或电子邮件方式送达全体董事、高级管理 人员。 本次会议应到董事 9 人，实到董事 9 人，其中独立董事木志荣、董事陈加贫、 董事陈加芽以视频方式参加会议。公司非董事高级管理人员列席了会议。本次会 议符合《公司法》及《公司章程》的规定。 经与会董事以记名方式投票表决，本次会议审议并形成了以下决议： 一、审议并通过了《关于安徽市场经营权变更暨关联交易的议案》 本议案经公司第六届独立董事专门会议第一次会议审议通过，并发表如下意 见：1、公司收回安徽市场的经营权，是公司推进直面消费者 ...

Group 1 - The core point of the announcement is that the internal share transfer plan by the shareholder and its concerted parties has expired without execution [2][3][4] - Before the internal transfer plan, the shareholder Shunmao Investment held 27,650,000 shares, accounting for 4.8117% of the total share capital [2] - Shunmao Investment and its concerted parties collectively held 35,150,095 shares, representing 6.1169% of the total share capital [2] Group 2 - The internal transfer plan was disclosed on April 23, 2025, with a plan to transfer up to 1,200,000 shares, not exceeding 0.2088% of the total share capital [2] - As of August 18, 2025, Shunmao Investment has not implemented the share transfer plan [2][3] - The actual reduction did not meet any minimum reduction quantity or ratio, as no minimum was set in the plan [3]

证券代码：601566 证券简称：九牧王 公告编号：2025-021 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计划时间届满 暨未转让股份的公告 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 | | | | --- | --- | --- | --- | | 股东身份 | 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 | | | 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 | | 一、内部转让主体转让前基本情况 1 / 3 股东及一致行动人持股的基本情况：本次内部转让股份计划实施前， 九牧王股份有限公司（以下简称"公司"）股东泉州市顺茂投资管理有 限公司（以下简称"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% ...

• 一致行动人构成： 顺茂投资：2,765万股（4.8117%） 陈珍珠：432.1万股（0.7520%） 陈培珠：317.9万股（0.5532%） 九牧王股东转让计划届满未实施公告要点 核心要点： • 转让计划未执行：股东顺茂投资原计划转让不超过120万股（占总股本0.2088%）给一致行动人，转让 期间为2025年5月19日至8月18日，最终未实施任何转让。 • 股东持股情况： 顺茂投资持股2,765万股，占比4.8117% 顺茂投资及一致行动人合计持股3,515万股，占比6.1169% • 未转让原因：顺茂投资及受让方根据自身资金实际情况以及转让计划期间的股价，未实施转让计划。 • 影响：此次内部转让计划届满未执行，公司股权结构保持不变。 ...

Core Insights - The Fujian Provincial Market Supervision Administration has released the results of the 2025 textile product quality provincial supervision inspection, indicating a compliance rate of 96.30% with only 1 out of 27 batches failing the inspection [1][2]. Group 1: Inspection Results - A total of 22 companies were inspected, with 27 batches of products tested, resulting in 26 compliant batches and 1 non-compliant batch, leading to a non-compliance rate of 3.70% [1]. - For knitted wool products, 5 companies were inspected with a 100% compliance rate [1]. - In the inspection of down products, 21 companies were tested, with 1 non-compliant batch, resulting in a non-compliance rate of 4.76% [2]. - The inspection of silk quilts involved 1 company and 1 batch, which achieved a 100% compliance rate [2]. Group 2: Actions Taken - The provincial market supervision bureau has mandated local market supervision authorities to take legal action against the non-compliant products and their manufacturers [3]. Group 3: Detailed Inspection Results - The inspection results for knitted wool products showed that companies like Fujian Qipilang Industrial Co., Ltd. and Fujian Qipai Fashion Technology Co., Ltd. had compliant products [5]. - The down products inspection included various brands such as SEPTWOLVES and LILANZ, all of which passed the quality checks [6][7]. - The only non-compliant product was from Saint Giao (China) Co., Ltd., which failed the inspection for a down jacket [7].

Core Insights - The shirt market is a significant segment of the apparel industry, with a projected market size of approximately 1.1 trillion yuan in 2024 and an expected growth to 1.15 trillion yuan in 2025 [6][8] - The industry is primarily divided into men's shirts and women's shirts, with men's shirts focusing on comfort and practicality, while women's shirts emphasize fashion and variety [8][12] - The competitive landscape of the shirt industry in China is intense, with major players including Youngor, Hongdou, HLA, Seven Wolves, and Jiumuwang [12][14] Market Overview - The shirt industry has evolved from a single-function garment to a comprehensive carrier of functionality and cultural symbolism, reflecting basic functionality, fashion expression, and sustainable consumption [4][10] - In 2024, the market share for men's shirts is expected to be 59%, while women's shirts will account for 29% [8] Industry Classification - The shirt industry can be categorized by gender and age (men's, women's, children's), material (cotton, silk, linen), wearing scenarios (business, casual, fashion, workwear, formal), and functionality (wrinkle-resistant, quick-dry, antibacterial, smart shirts) [10][12] Industry Chain - The upstream of the shirt industry includes natural fibers, chemical fibers, and emerging eco-friendly materials, along with sewing threads, buttons, and related production equipment. The midstream involves shirt production, design, manufacturing, and sales, while the downstream focuses on sales channels, including offline stores and online platforms like Tmall and JD.com [10][12] Competitive Landscape - The Chinese shirt industry is characterized by fierce competition, with both domestic and international brands entering the market, intensifying the competition [12][14] - Major companies in the industry have reported significant production volumes for 2024, with HLA producing 16.75 million shirts, Youngor 4.43 million, Hongdou 3.68 million, Jiumuwang 1.72 million, and Taiping Bird 1.36 million [14] Fabric Development Direction - The future direction of shirt fabric development includes diversification of fibers, processes, and styles, with a focus on health protection, green low-carbon characteristics, and diverse styles [16]

Core Viewpoint - The significant profit increase reported by companies like Jiumuwang is primarily driven by investment gains rather than strong sales in men's clothing, indicating a troubling trend in the men's apparel market where brands struggle to sell their products effectively [2][3][4]. Financial Performance - Jiumuwang expects a net profit of 150 to 180 million yuan for the first half of the year, representing a year-on-year increase of 200% to 260% [3]. - The profit surge is largely attributed to investment income, with fair value changes in financial assets expected to contribute 20 to 25 million yuan, a significant recovery from a loss of 111.32 million yuan in the previous year [3]. - In Q1, Jiumuwang's investment income grew by 4022.02% to approximately 12.45 million yuan, primarily due to gains from the disposal of trading financial assets [3]. Main Business Challenges - Jiumuwang's core business performance is declining, with expected non-recurring net profit of 95 to 110 million yuan for the first half, down 14% to 26% year-on-year [4]. - The overall men's apparel market is facing challenges, with Jiumuwang and other brands like Qipilang reporting significant declines in revenue and net profit from core operations [4][5]. Market Trends - The men's clothing market is experiencing a shift, with many brands relying on investment income to sustain profits amid poor sales performance [5][7]. - Inventory turnover days for Jiumuwang exceeded 300 days, indicating slow sales and excess stock, while Qipilang reported 206 days [8][9]. - The market is seeing a polarization in consumer preferences, with lower-priced products gaining market share while mid to high-end brands struggle [9][10]. Strategic Responses - Jiumuwang and Qipilang have shifted towards investment strategies to boost performance, with Jiumuwang having invested over 1 billion yuan in transformation efforts since 2020 [12][14]. - Both companies are attempting to reposition themselves, with Jiumuwang focusing on becoming a "men's pants expert" and Qipilang branding itself as a "jacket expert" [13][14]. - Industry experts suggest that brands need to embrace digital transformation and focus on high-end positioning to remain competitive in a challenging market [14].