日播时尚集团股份有限公司 拟转让上海日播至胜实业有限公司股权估值项目 估值报告 卓信大华估报字(2025)第 8702 号 北京卓信 型公司 二〇 目 录 | 估值报告概要 | | --- | | 估值报告正文 | | 一、目标公司概况 | | 二、估值目的 ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 4 | | 三、估值对象和估值范围… | | 四、价值类型 … | | 五、估值基准日 | | 六、估值假设 ……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………… 5 | | 七、估值方法 | | 八、估值结论 ………………………………………………………………………………………………………………………………………………………………………………… ...

证券代码：603196 证券简称：日播时尚 公告编号：2025-007 日播时尚集团股份有限公司 第四届监事会第十七次会议决议公告 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。 一、 监事会会议召开情况 日播时尚集团股份有限公司（以下简称"公司"或"日播时尚"）第四届监 事会第十七次会议于 2025 年 2 月 24 日在公司会议室以现场结合通讯会议的形式 召开，本次会议已于 2025 年 2 月 14 日通过邮件的形式通知了全体监事。本次会 议由监事会主席孟益先生主持，应出席监事 3 人，实际出席监事 3 人，其中，监 事吕伟民通讯出席会议，部分高管列席会议。本次会议的召集和召开符合《公司 法》和《公司章程》的规定，合法有效。 二、 监事会会议审议情况 1、审议通过《关于公司 2024 年度监事会工作报告的议案》 表决结果：3 票通过，0 票反对，0 票弃权，0 票回避，表决通过该议案。 该议案尚需提交公司股东大会审议。 2、审议通过《关于公司 2024 年年度报告及其摘要的议案》 表决结果：3 票通过，0 票反对，0 票 ...

证券代码：603196 证券简称：日播时尚 公告编号：2025-006 日播时尚集团股份有限公司 第四届董事会第十九次会议决议公告 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。 一、 董事会会议召开情况 日播时尚集团股份有限公司（以下简称"公司"或"日播时尚"）第四届董 事会第十九次会议于 2025 年 2 月 24 日在公司会议室以现场结合通讯会议的形式 召开，本次会议已于 2024 年 2 月 14 日通过邮件形式通知全体董事。本次会议由 董事长梁丰先生主持，应出席董事 5 人，实际出席董事 5 人，监事和高管列席会 议。本次会议的召集和召开符合《公司法》和《公司章程》的规定，合法有效。 二、 董事会会议审议情况 1、审议通过《关于公司 2024 年度总经理工作报告的议案》 表决结果：5 票通过，0 票反对，0 票弃权，0 票回避，表决通过该议案。 2、审议通过《关于公司 2024 年度董事会工作报告的议案》 表决结果：5 票通过，0 票反对，0 票弃权，0 票回避，表决通过该议案。 董事会审议通过了《2024 年度董事 ...

证券代码：603196 证券简称：日播时尚 公告编号：2025-013 日播时尚集团股份有限公司 关于 2024 年度利润分配预案的公告 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： 日播时尚集团股份有限公司（以下简称"公司"）2024年度利润分配预 案为：拟不分配现金股利、不进行资本公积金转增股本、不送红股。 公司2024年度利润分配预案已经公司第四届董事会第十九次会议和第四 届监事会第十七次会议审议通过，尚需提交公司2024年年度股东大会审 议批准。 （一）董事会审议情况 2025 年 2 月 24 日，公司召开第四届董事会第十九次会议，审议通过《关于 公司 2024 年度利润分配的议案》。 （二）公司监事会意见 一、2024 年度利润分配预案 根据众华会计师事务所（特殊普通合伙）审计，公司2024年度实现归属于 上市公司股东的净利润-158,620,807.20 元，截至2024年12月31日，母公司报表 中可供分配利润为212,397,966.89 元。公司拟定利润分配预案如下： 鉴于公司2024年度 ...

Financial Performance - The company reported a net profit attributable to shareholders of -158,620,807.20 yuan for the fiscal year 2024, indicating a negative profit distribution condition [6]. - The company's total operating revenue, after deducting non-operating income, was 861,038,172.72 yuan for the fiscal year 2024 [10]. - The company's operating revenue for 2024 was CNY 865,915,956.84, a decrease of 15.68% compared to CNY 1,026,954,658.74 in 2023 [26]. - The net profit attributable to shareholders for 2024 was a loss of CNY 158,620,807.20, a significant decline from a profit of CNY 17,076,667.90 in 2023, representing a decrease of 1,028.87% [26]. - The cash flow from operating activities for 2024 was CNY 98,739,249.34, down 29.56% from CNY 140,181,070.77 in 2023 [26]. - The total assets at the end of 2024 were CNY 1,037,480,709.88, a decrease of 10.64% from CNY 1,160,958,361.40 at the end of 2023 [26]. - The company's basic earnings per share for 2024 was -CNY 0.6693, compared to CNY 0.0715 in 2023, reflecting a decrease of 1,036.08% [27]. - The weighted average return on equity for 2024 was -22.22%, a decrease of 24.36 percentage points from 2.14% in 2023 [27]. - The company reported a significant impairment loss of CNY 72,258,700 due to the re-evaluation of construction projects [28]. - The net profit attributable to shareholders for the fourth quarter of 2024 was a loss of CNY 118,084,764.78, with a total revenue of CNY 241,089,447.33 [30]. Revenue and Sales - The company reported a revenue of 866 million RMB in 2024, a decrease of 15.68% year-on-year [34]. - Membership consumption increased by 11% year-on-year, indicating improved member engagement [36]. - The total revenue for the apparel segment was CNY 85,033.47 million, a decrease of 15.92% compared to the previous year, with a gross margin of 56.87%, down by 0.50 percentage points [61]. - The revenue from the outerwear category was CNY 24,981.57 million, down 25.12% year-on-year, with a gross margin of 47.09%, a decrease of 7.40 percentage points [61]. - The online sales channel generated CNY 21,195.35 million in revenue, reflecting a decline of 15.21% year-on-year, with a gross margin of 56.31%, an increase of 2.06 percentage points [62]. - The revenue from the direct sales model was CNY 27,739.23 million, down 8.69% year-on-year, with a gross margin of 65.37%, a decrease of 0.16 percentage points [62]. Operational Adjustments - The company plans to acquire 71% equity of Sichuan Yindile Material Technology Group Co., Ltd. through a combination of issuing shares and cash payment, which is expected to constitute a major asset restructuring [10]. - The company plans to adjust its product structure and close inefficient stores in response to changes in the external consumption environment [28]. - The company closed inefficient stores and adjusted the online product structure, contributing to the revenue decline [58]. - The company is focusing on a multi-channel, light-asset, and intelligent operational model to enhance user experience and service quality [47]. - The company is enhancing its supply chain through data intelligence, integrating over 20 core systems for comprehensive digital information management [56]. Marketing and Brand Strategy - The company emphasized product upgrades through design innovation, focusing on core categories and enhancing product functionality [34]. - The company aims to strengthen its marketing strategies through data analysis and personalized member services [36]. - The company launched 18 nationwide promotional events, successfully attracting new customer groups and enhancing brand presence [37]. - The company is actively pursuing digital transformation and talent development to enhance operational efficiency [34]. - The company is committed to sustainable development and ecological aesthetics, integrating these principles throughout its supply chain [93]. Governance and Compliance - The company held its annual shareholder meeting on May 21, 2024, in compliance with legal requirements [104]. - The board of directors conducted five meetings during the reporting period, adhering to governance regulations [101]. - The company emphasizes transparency and compliance in information disclosure, ensuring accurate and timely reporting [103]. - The company has established a governance structure that promotes effective checks and balances among shareholders, the board, and management [100]. - The company is committed to protecting the rights of stakeholders, including creditors, employees, and suppliers, while promoting sustainable development [102]. Employee and Talent Management - The total number of employees in the parent company and major subsidiaries is 1,375, with 614 in production, 540 in sales, 83 in technical roles, 28 in finance, and 110 in administration [126]. - The company has established a comprehensive training and development system to enhance employee skills and ensure competitiveness [128]. - The company employs a multi-faceted compensation incentive system to attract and retain talent, ensuring competitive salary levels [127]. - The company has implemented an annual performance assessment system for senior management, combining base salary and performance-based salary [136]. Financial Management and Investments - The company is planning to acquire assets and raise matching funds through a share issuance and cash payment, which is subject to board approval [124]. - The company has engaged in entrusted financial management with a total amount of CNY 541,000,000.00 during the reporting period [169]. - The company has a maximum daily balance limit of CNY 300,000,000.00 for entrusted financial management activities [169]. - The annualized return rate for entrusted financial products ranges from 1.97% to 2.83% [171]. Risks and Challenges - The company faces risks related to the instability of the new retail model, with increasing competition and rising channel maintenance costs, and will focus on enhancing product and brand strength [97]. - The company is addressing the risk of rising raw material and operating costs by collaborating with strategic suppliers and adopting bulk purchasing strategies [98]. - Seasonal fluctuations significantly impact the company's performance, particularly in the high-end women's apparel sector, with higher sales typically seen in Q4 [98]. Shareholder Information - The actual controller of the company, Liang Feng, holds 29.96% of the shares as of the end of 2024 [192]. - The top ten unrestricted shareholders include Liang Feng with 59 million shares (24.90%) and Wang Weidong with 20.9 million shares (8.82%) [188]. - The company has no significant changes in the control of shareholders during the reporting period [191]. - The total number of shares held by the board members remained unchanged at 73,827,840 shares throughout the reporting period [106].

本资产评估报告依据中国资产评估准则编制 上海日播至胜实业有限公司以财务报告为目的 进行资产减值测试所涉及的 在建工程可收回金额 平估报告 阜信大华评报字（2025）第 8701 号 (共一册 第一册) 北京卓 育限公司 | | | | 声 明 | | | --- | --- | | 资产评估报告摘要 | | | 资产评估报告正文 | | | 委托人、产权持有人及其他资产评估报告使用人 | 一、 | | 评估目的 | | | 评估对象和评估范围 . | III | | 价值类型及其定义 | 四、 | | 评估基准日 . | 开、 | | 评估依据… | 六、 | | 评估方法. | 七、 | | 评估程序实施过程和情况 . | 11. | | 评估假设. | 九、 | | 评估结论 . | 十、 | | 特别事项说明 | 十一、 | | 评估报告使用限制说明…………………………………………………………………………………… 15 | 十二、 | | 评估报告日 . | 十三、 | | 资产评估报告附件 … | | 上海日播至胜实业有限公司以财务报告为目的 进行资产减值测试所涉及的在建工程可收回金额 资产评估报告 ...

证券代码：603196 证券简称：日播时尚 公告编号：2025-004 二、本次交易进展情况 根据上海证券交易所相关规定，经公司申请，公司股票自 2024 年 10 月 18 日开市起停牌，停牌时间不超过 10 个交易日。停牌期间， 公司积极组织各方推进本次交易的相关工作，并按时发布了停牌进展 公告。具体内容详见公司刊登在上海证券交易所网站 （www.sse.com.cn）的《日播时尚集团股份有限公司重大资产重组停 牌公告》（公告编号：2024-051）、《日播时尚集团股份有限公司关于筹 划重大资产重组事项的停牌进展公告》（公告编号：2024-052）。 日播时尚集团股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套 资金暨关联交易事项的进展公告 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相应的法律责任。 一、本次交易基本情况 日播时尚集团股份有限公司（以下简称"公司"或"日播时尚"） 拟通过发行股份及支付现金的方式购买四川茵地乐材料科技集团有 限公司（以下简称"茵地乐"）71%股权，并募集配套资金（以下简称 "本次交易"） ...

证券代码：603196 证券简称：日播时尚 公告编号：2025-001 日播时尚集团股份有限公司 第四届董事会第十八次会议决议公告 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。 一、董事会会议召开情况 根据《中华人民共和国公司法》和《公司章程》的有关规定, 日播时尚集团 股份有限公司（以下简称"公司"）第四届董事会第十八次会议（以下简称"本 次会议"）于 2025 年 1 月 15 日在公司会议室以现场结合通讯会议的形式召开。 本次会议已于 2025 年 1 月 10 日以电话及书面形式通知全体董事。本次会议由公 司董事长梁丰先生主持, 应出席董事 5 人，实际出席董事 5 人，其中，董事梁丰、 胡爱斌、独立董事庞珏、张其秀通讯出席本次会议，监事和高管列席会议。本次 会议的召集和召开符合《公司法》和《公司章程》的规定，会议决议合法有效。 本次会议作出如下决议： 二、董事会会议审议情况 表决结果：5 票同意、0 票反对、0 票弃权、0 票回避，表决通过该议案。 本议案已经公司董事会审计委员会审议通过。 具体内容详见同日刊登于上 ...

Financial Performance Expectations - The company expects a net loss attributable to shareholders of 140 million to 160 million yuan for the year 2024, a significant decline compared to a profit of 17.07 million yuan in the same period last year [3]. - The projected net loss after deducting non-recurring gains and losses is estimated to be between 150 million and 170 million yuan [3]. - Revenue is expected to decline by approximately 15% due to changes in the external consumption environment, closure of underperforming stores, and adjustments in the online sales product mix [6]. - The previous year's net profit after deducting non-recurring gains and losses was 6.66 million yuan [4]. Asset Impairment and Project Management - The company anticipates an impairment loss of 72.26 million yuan on construction in progress due to redesign and re-planning of a commercial property project [6]. - The net value of the project assets, prior to impairment, is approximately 175.96 million yuan, which will be reduced to about 103.70 million yuan after impairment [8]. - The company plans to transfer the entire project assets to an affiliate for a price between 145 million and 165 million yuan, subject to evaluation results [8]. Strategic Focus and Risk Management - The company aims to focus on its core business and reduce fixed asset investment pressure to improve cash flow [8]. - The company has not identified any major uncertainties that could affect the accuracy of the earnings forecast [7]. - The board advises investors to be cautious and consider investment risks due to the anticipated negative impact on the 2024 consolidated financial statements [9].

证券代码：603196 证券简称：日播时尚 公告编号：2024-074 日播时尚集团股份有限公司 关于筹划发行股份及支付现金购买资产并募集配套 资金暨关联交易事项的进展公告 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相应的法律责任。 一、本次交易基本情况 日播时尚集团股份有限公司（以下简称"公司"或"日播时尚"） 拟通过发行股份及支付现金的方式购买四川茵地乐材料科技集团有 限公司（以下简称"茵地乐"）71%股权，并募集配套资金（以下简称 "本次交易"）。本次交易预计构成重大资产重组，构成关联交易，不 构成重组上市。 二、本次交易进展情况 根据上海证券交易所相关规定，经公司申请，公司股票自 2024 年 10 月 18 日开市起停牌，停牌时间不超过 10 个交易日。停牌期间， 公司积极组织各方推进本次交易的相关工作，并按时发布了停牌进展 公告。具体内容详见公司刊登在上海证券交易所网站 （www.sse.com.cn）的《日播时尚集团股份有限公司重大资产重组停 牌公告》（公告编号：2024-051）、《日播时尚集团股份有限公司关于筹 划 ...