证券代码：603238 证券简称：诺邦股份 公告编号：2025-032 杭州诺邦无纺股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日召开 2025 年第二次临时股东大会，选举产生了第七届董事会非职工代表董事，与同 日职工代表大会选举产生的第七届董事会职工代表董事，共同组成公司第七届董 事会。同日，公司召开第七届董事会第一次会议，选举产生了董事长、各专门委 员会成员，并完成高级管理人员和证券事务代表的聘任。现将有关情况公告如下： 一、第七届董事会、董事长及各专门委员会组成情况 （一）第七届董事会成员 1、非独立董事：任建华先生、任富佳先生、龚金瑞先生、任建永先生、王 刚先生。 2、独立董事：董静女士、汪泓女士和颜亮先生。 杭州诺邦无纺股份有限公司 关于完成董事会换届选举及选举董事长、专门委员会 成员及召集人、聘任高级管理人员、证券事务代表的 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。 3、职工代表董事：林德胜先生。 上述 9 名董事共同组成公司第七届董事会。公司第七届董事会成员自 2025 年第二次 ...

证券代码：603238 证券简称：诺邦股份 公告编号：2025-029 杭州诺邦无纺股份有限公司 2025年第二次临时股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 本次股东大会由公司董事会召集，公司董事长任建华先生主持会议，会议采 取现场投票和网络投票相结合的表决方式，本次会议的召集、召开符合《公司法》 及《公司章程》的规定。 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：《关于取消监事会并修订<公司章程>的议案》 一、 会议召开和出席情况 (一)股东大会召开的时间：2025 年 11 月 26 日 (二)股东大会召开的地点：杭州市临平区昌达路 8 号公司 1 号会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 67 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 127,630,092 | | 3、出 ...

证券代码：603238 证券简称：诺邦股份 公告编号：2025-031 杭州诺邦无纺股份有限公司 第七届董事会第一次会议决议公告 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 杭州诺邦无纺股份有限公司（以下简称"公司"）于 2025 年 11 月 26 日在杭 州市临平区昌达路 8 号公司 1 号会议室以现场方式召开第七届董事会第一次会 议。会议通知及相关议案资料已于 2025 年 11 月 11 日以电话、电子邮件等方式 发出。本次会议应到董事 9 人，实到董事 9 人，会议由董事长任建华先生主持。 会议的通知、召集、召开和表决程序符合《中华人民共和国公司法》、《中华人民 共和国证券法》、《公司章程》、《董事会议事规则》等有关法律、法规、规范性文 件的规定。 二、董事会会议审议情况 1、审议通过《关于选举公司第七届董事会董事长暨代表公司执行公司事务 的董事的议案》 同意选举任建华先生为公司第七届董事会董事长，根据《公司章程》规定， 董事长任建华先生同时为执行公司事务的董事并担任公司法定代表人，任期自 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于杭州诺邦无纺股份有限公司 对本法律意见书的出具，本所律师特作如下声明： 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员资格、 会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案内容及该等议 案所表述的事实或数据的真实性、准确性和完整性发表意见； 2．本所律师无法对网络投票过程进行见证，参与本次会议网络投票的股东资格、 网络投票结果均由相应的证券交易所交易系统和互联网投票系统予以认证； 1 3．本所律师已经按照《股东会规则》的要求，对贵公司本次会议所涉及的相关事 项进行了必要的核查和验证，所发表的结论性意见合法、准确，不存在虚假记载、误导 性陈述或者重大遗漏； 4．本法律意见书仅供贵公司本次会议之目的使用，不得用作任何其他用途。本所 律师同意将本法律意见书随贵公司本次会议决议一起予以公告。 2025 年第二次临时股东大会的法律意见书 国枫律股字[2025]A0574 号 致：杭州诺邦无纺股份有限 ...

Core Insights - The report emphasizes the potential for investment opportunities in the textile and apparel sector, particularly focusing on new consumption trends and global manufacturing recovery [3][16][18]. Industry Performance - The textile and apparel sector outperformed the market during the week of November 17 to November 21, with the SW textile and apparel index declining by 4.8%, which was 0.3 percentage points better than the SW All A index [4][10]. - Recent industry data shows that from January to October, the total retail sales of clothing, shoes, and textiles reached 1,205.3 billion yuan, reflecting a year-on-year growth of 3.5% [3][34]. Textile Sector Insights - The Australian wool price index stabilized at 983 cents per kilogram as of November 20, 2025, with a year-on-year increase of 32.3% and a monthly increase of 5.4%, indicating a bullish trend in wool prices [10][50]. - The report suggests that the current price increase in Australian wool is in its early stages, driven by supply constraints and new demand from sports wool yarns, presenting investment opportunities [10][18]. Apparel Sector Insights - Amer Sports reported a 30% increase in revenue to $1.76 billion for Q3 2025, with a net profit increase of 161% to $190 million, exceeding previous guidance and indicating strong growth in the outdoor segment [13][15]. - The report recommends focusing on outdoor sports brands such as Bosideng, which is expected to benefit from seasonal sales and a favorable market environment [15][18]. Investment Strategy for 2026 - The investment strategy for the textile and apparel industry in 2026 focuses on consolidating positions and exploring new consumption trends, particularly targeting younger consumer demographics [16][17]. - The report highlights the importance of the global tariff landscape stabilizing, which is expected to enhance the competitiveness of core manufacturing [18]. Key Recommendations - Recommended companies in the outdoor sports segment include Anta, Bosideng, and 361 Degrees, with a focus on brands that are well-positioned to capitalize on the upcoming winter season and the Milan Winter Olympics [17][18]. - The report also identifies potential in discount retail and personal care sectors, suggesting companies like Hailan Home and Nobon Co., which are expected to benefit from changing consumer behaviors [17][18].

Investment Strategy Overview - The report emphasizes the stabilization of global tariff negotiations, which does not alter the core competitiveness of global manufacturing, and highlights optimism towards two major industrial chains and a price increase cycle [3][4]. Industry Performance Review - As of November 14, 2025, the SW textile and apparel index has increased by 16.9%, ranking 17th in relative performance across the market. The manufacturing sector shows higher certainty compared to brands still in recovery [4][8]. - Domestic demand is at a low point in 2025 but is expected to recover in 2026-2027, focusing on the characteristics of young consumer groups to explore high-growth areas in new consumption [4][21]. New Consumption Trends - High-performance outdoor apparel is identified as a growth area with low penetration and high potential, with the market size projected to reach 102.7 billion yuan in 2024, growing by 17% year-on-year [4][33]. - Discount retail is highlighted as a scarce high-growth area within the consumption sector, with rapid expansion in urban outlets and hard discount specialty stores [4][46]. - The personal care and cleaning market, particularly wet wipes, is noted for its rapid growth and increasing necessity among young consumers, with a market size in China expected to reach 100 billion yuan [4][62]. - The sleep economy is emerging as a significant market, with explosive growth in household textile products, driven by young consumers' acceptance [4][20]. - The report discusses Nike's innovation cycle, which is expected to benefit from inventory replenishment and product innovation, similar to Adidas's recovery cycle [4][20]. - The Australian wool price increase cycle is anticipated due to supply contraction and demand highlights, with potential market space comparable to previous high points in 2011 and 2018 [4][20]. - The healthcare material upgrade cycle presents broad replacement opportunities for overseas non-woven fabrics [4][20]. Global Manufacturing Insights - The report notes that the resolution of tariff variables is expected to lead to a new growth phase for leading companies [4][27]. - The textile industry has undergone a pressure test for external demand, with recent tariff negotiations expected to boost export chain expectations for 2026 [4][26]. Investment Recommendations - The report suggests focusing on high-growth new consumption areas and the competitive strength of global manufacturing as key investment strategies [4][27].

二零二五年十一月 目 录 公司代码：603238 公司简称：诺邦股份 杭州诺邦无纺股份有限公司 2025 年第二次临时股东大会 会议资料 | 2025 年第二次临时股东大会议程 1 | | | --- | --- | | 2025 年第二次临时股东大会须知 2 | | | 2025 年第二次临时股东大会会议议案 4 | | | 议案一：关于取消监事会并修订<公司章程>的议案 | 4 | | 议案二：关于制定、修订公司部分治理制度的议案 | 6 | | 议案三：关于董事会换届选举暨提名第七届董事会非独立董事候选人的议案 . | 8 | | 议案四：关于董事会换届选举暨提名第七届董事会独立董事候选人的议案 .. | 10 | 杭州诺邦无纺股份有限公司 2025 年第二次临时股东大会议程 会议召开和表决方式: 本次会议采用现场投票与网络投票相结合的表决方式。公 司通过上海证券交易所股东大会网络投票系统向股东提供网络投票平台，公司股 东可以在网络投票时间内通过上述系统行使表决权。 现场会议时间：2025 年 11 月 26 日（星期三）14:00。 网络投票时间：采用上海证券交易所网络投票系统，通过交易系统投票平台的 ...

Group 1 - The core viewpoint of the report indicates a moderate recovery in the domestic apparel industry in 2025, with retail sales of clothing, shoes, and knitted products increasing by 3.1% year-on-year to 1.1 trillion yuan, although still lagging behind the overall retail performance of consumer goods, which grew by 4.5% [1][12] - The report highlights that the gap in retail sales growth between clothing and overall consumer goods has narrowed significantly compared to 2024, where clothing sales only grew by 0.3% [1][12] - The report notes that the textile and apparel index has shown a fluctuating upward trend, with the A-share textile and apparel sector rising by 11.3% in 2025, underperforming the CSI 300 index, which increased by 20.6% [2][28] Group 2 - The textile manufacturing sector is expected to see performance and valuation recovery in 2026, driven by the diminishing impact of reciprocal tariffs and improvements in Nike's operational status [3][28] - The report anticipates that clothing consumption will continue to experience a volatile recovery in 2026, with functional and mass-market clothing expected to outperform the broader market [3][28] - The home textile sector is entering a new replacement cycle, supported by subsidy policies, with recommendations to focus on companies like Luolai Life and Mercury Home Textile [3][28] Group 3 - The report provides investment recommendations, suggesting a focus on companies such as Huayi Group, Shenzhou International, and Crystal International in the textile manufacturing sector, and Anta Sports and 361 Degrees in the apparel sector [3][28] - The report emphasizes that the performance of the brand apparel sector has shown gradual improvement, with key companies maintaining healthy inventory levels and experiencing a slight increase in gross margins [46][50] - The textile manufacturing sector has faced revenue pressure due to reciprocal tariffs, with a noted decline in net profit for key companies in the first three quarters of 2025 [61][62]

Group 1 - Nobon Co., Ltd. experienced a stock price increase of 5.01%, reaching 19.30 CNY per share, with a trading volume of 87.87 million CNY and a turnover rate of 2.67%, resulting in a total market capitalization of 3.426 billion CNY [1] - The company, established on November 27, 2002, and listed on February 22, 2017, specializes in the research, production, and sales of differentiated and personalized water-jet non-woven materials and disposable hygiene products, with its main business revenue composition being 69.51% from water-jet non-woven materials and 29.11% from other products [1] Group 2 - Among the top ten circulating shareholders of Nobon Co., Ltd., a fund under Southern Fund holds a significant position. The Southern Performance Growth Mixed A Fund (202003) reduced its holdings by 614,500 shares in the third quarter, now holding 5.5821 million shares, which accounts for 3.14% of the circulating shares [2] - The Southern Performance Growth Mixed A Fund (202003) was established on November 16, 2006, with a current scale of 4.4 billion CNY. Year-to-date returns are 17.5%, ranking 4875 out of 8147 in its category, while the one-year return is 17.92%, ranking 4041 out of 8056 [2]

Core Viewpoint - Nobon Co., Ltd. announced the convening of its sixth board of directors' thirteenth meeting on November 10, 2025, to review and approve the proposals for the election of the seventh board of directors, including both non-independent and independent director candidates [1] Group 1 - The company has nominated Ren Jianhua, Ren Fujia, Gong Jinrui, Ren Jianyong, and Wang Gang as candidates for the seventh board of directors as non-independent directors [1] - The company has nominated Dong Jing, Wang Hong, and Yan Liang as candidates for the seventh board of directors as independent directors [1] - The nominations were made following a qualification review by the board's nomination committee [1]