证券代码：603365 股票简称：水星家纺 公告编号： 2025-031 上海水星家用纺织品股份有限公司 关于部分限制性股票回购注销实施的公告 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： 一、本次限制性股票回购注销的决策与信息披露 （一）2025 年 04 月 28 日，公司召开第五届董事会第二十次会议和第五届 监事会第十八次会议，审议通过了《关于回购注销部分限制性股票的议案》。具 体内容详见公司于 2025 年 04 月 29 日披露的《上海水星家用纺织品股份有限公 司关于回购注销部分限制性股票的公告》（公告编号：2025-011）。 （二）2025 年 05 月 22 日，公司披露了《上海水星家用纺织品股份有限公 司关于回购注销部分限制性股票暨通知债权人的公告》（公告编号：2025-019）， 就本次回购注销事宜通知债权人，公司债权人自接到公司通知起 30 日内、未接 到通知者自本公告披露之日起 45 日内，均有权凭有效债权文件及相关凭证要求 公司清偿债务或者提供相应担保。 截止至公示期限届满之日，公司 ...

上海市锦天城律师事务所 关于上海水星家用纺织品股份有限公司 2024 年限制性股票激励计划部分限制性股票回购注销实施 的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 电话：021-20511000 传真：021-20511999 邮编：200120 上海市锦天城律师事务所 法律意见书 法律意见书 案号：01F20241075 致：上海水星家用纺织品股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海水星家用纺织品股 份有限公司（以下简称"公司"或"水星家纺"）的委托，并根据水星家纺与本 所签订的《聘请律师合同》，作为水星家纺 2024 年限制性股票激励计划（以下简 称"本次激励计划"或"本计划"）的专项法律顾问。 本所律师根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人 民共和国公司法》（以下简称"《公司法》"）、《上市公司股权激励管理办法》（以 下简称"《管理办法》"）、《上海证券交易所股票上市规则》（以下简称"《上市规 则》"）及《上海证券交易所上市公司自律监管指南第 2 号——业务办理》（以下 简称"《自律监管指南》"）等有关法律、法 ...

Core Insights - Mercury Home Textile has been recognized as the global leader in professional bedding sales, according to Frost & Sullivan [1][2][3] Group 1: Market Position - Mercury Home Textile has achieved the number one position in global bedding sales, reflecting its strong market performance [2] - The company has maintained leadership in several key segments, including global and national sales of comforters, wedding bedding, health sleep bedding, children's bedding, and silk quilts for multiple consecutive years [2][3][4][5][6][7] Group 2: Research and Innovation - The release of the "2025 China Comforter White Paper" marks the sixth year of research into national sleep issues, commissioned by the China Household Textile Industry Association and the China Sleep Research Society [5] - The company emphasizes technological innovation and quality research to address sleep anxiety affecting nearly 400 million people in China, showcasing its commitment to improving sleep experiences through R&D and patented technologies [7] Group 3: Strategic Vision - The chairman of Mercury Home Textile outlined a strategic blueprint focused on technological innovation and professional depth to provide consumers with scientifically-backed health sleep solutions [9] - The company aims to lead the Chinese home textile brand onto a broader international stage, leveraging its strong technological foundation and clear strategic direction [9][13]

Investment Rating - The report gives an "Overweight" rating for the textile and apparel industry, indicating a positive outlook compared to the overall market performance [2][10]. Core Insights - Domestic demand is showing a mild recovery, which is expected to accelerate, while external demand is impacted by tariff shocks, leading to a divergence in industry performance [2]. - The sportswear segment is experiencing strong demand, particularly in high-performance outdoor products, with significant market growth potential [2]. - The report highlights the resilience of certain brands in the men's and women's apparel sectors, while children's clothing brands are still under pressure [2]. - The home textile sector is benefiting from government subsidies, leading to better performance for key players [2]. - The personal care and household cleaning segment is in a growth phase, driven by diversification and quality upgrades [2]. - The textile manufacturing sector faces challenges from tariff impacts but maintains global competitiveness among leading manufacturers [2]. Summary by Sections Domestic Demand - Retail sales of clothing, shoes, and textiles reached 613.8 billion yuan from January to May, with a year-on-year growth of 3.3% [2]. - The report anticipates an acceleration in retail growth due to low base effects from the previous year [2]. External Demand - Textile and apparel exports totaled 116.7 billion USD from January to May, with a year-on-year increase of 1% [2]. - Vietnam's textile exports grew by 12%, indicating a shift in supply chains due to tariff policies [2]. Sportswear Segment - The sportswear sector is leading in market performance, with brands like Anta and FILA expected to see significant revenue growth [2]. - The report predicts a 40% increase in revenue for outdoor brands in Q2 2025 [3]. Apparel Sector - Men's apparel brands like HLA are expected to show modest growth, while high-end brands may face profit declines [2]. - Women's apparel brand Geli Si is projected to outperform peers, with a significant rebound in profits [2]. Home Textiles - Key players like Luolai and Mercury are expected to see revenue growth of 3% and 15%, respectively, in Q2 2025 [3]. - The report notes that Fuanna is still undergoing operational adjustments, with expected declines in revenue and profit [2]. Personal Care and Household Cleaning - Companies like Nobon and Weijian are projected to achieve revenue growth of 28% and 20%, respectively, in Q2 2025 [2]. Textile Manufacturing - Major manufacturers like Shenzhou International are expected to see revenue growth of 15% in H1 2025, despite short-term profit pressures [2]. - The report highlights that upstream textile companies are facing order declines due to tariff impacts [2]. Investment Recommendations - The report recommends focusing on sectors with recovery potential, such as sportswear, discount retail, personal care, and home textiles [2]. - Specific stock recommendations include Anta Sports, HLA, and Luolai [2][5].

Core Points - The announcement details the first unlock period of the 2024 restricted stock incentive plan for Shanghai Mercury Home Textile Co., Ltd, with 1,738,800 shares to be listed for trading on July 4, 2025 [1][4][11] Group 1: Incentive Plan Approval and Implementation - The incentive plan was approved in the 12th board meeting, with relevant proposals and verification by the supervisory board [1][2] - The supervisory board confirmed the list of incentive objects and the management measures for the implementation of the incentive plan [2][3] Group 2: Unlock Conditions and Achievements - The first unlock period for the restricted stock is set at 12 months, with 40% of the shares eligible for release [4][6] - The conditions for unlocking have been met, including no adverse audit reports and achievement of profit distribution criteria [4][6] Group 3: Specifics of the Unlocking - A total of 65 incentive objects are eligible for unlocking, with 1,738,800 shares representing 0.6620% of the total share capital [4][10] - The unlocking will result in a change in the company's share structure, with restricted shares decreasing and unrestricted shares increasing accordingly [11][12] Group 4: Legal Opinions and Compliance - A legal opinion from Shanghai Jintiancheng Law Firm confirms that all necessary approvals and conditions for the unlocking have been met [11]

证券代码：603365 证券简称：水星家纺 公告编号：2025-030 上海水星家用纺织品股份有限公司 关于 2024 年限制性股票激励计划第一个解除限售期限制性股票解 除限售暨上市的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为股权激励股份；股票认购方式为网下，上市股数为 1,738,800股。 本次股票上市流通总数为1,738,800股。 本次股票上市流通日期为2025 年 7 月 4 日。 一、本激励计划的批准及实施情况 （一）已履行的审议程序 1、2024 年 03 月 26 日，公司召开第五届董事会第十三次会议和第五届监事 会第十二次会议，审议通过了《关于<公司 2024 年限制性股票激励计划（草案）> 及其摘要的议案》《关于<公司 2024 年限制性股票激励计划实施考核管理办法>的 议案》等议案，监事会对本次激励计划相关事项进行核实并出具了相关核查意见。 内容详见公司于指定媒体披露的相关公告。 2、2024 年 03 月 27 日至 2024 年 04 月 05 日，公 ...

Group 1: Gold and Jewelry - In H1 2025, gold prices surged, leading to a decline in gold jewelry consumption while investment gold consumption increased, continuing the trend from 2024 [13][17] - The report anticipates that in H2 2025, gold prices may fluctuate at high levels due to geopolitical conflicts and economic downturns, with central banks continuing to purchase gold [23] - Recommended companies include Laopuhuang, Chow Tai Fook, Chao Hong Ji, and Cai Bai Co., which are expected to benefit from the ongoing trends in gold consumption [23][24][26][30] Group 2: Cosmetics - The cosmetics market showed weak performance in H1 2025, with a cumulative year-on-year growth of 4.1% from January to May, lagging behind overall retail growth [32][35] - Long-term trends in the cosmetics industry remain focused on increasing penetration rates and domestic brand substitution, with a recommendation to focus on brands like Mao Ge Ping and Shangmei Co. for their strong performance and growth potential [35][36][42] - Mao Ge Ping is highlighted for its high-end positioning and significant growth in both online and offline channels, while Shangmei Co. has shown impressive performance during promotional events [36][42] Group 3: Personal Care - The personal care sector, particularly in sanitary napkins and oral care, is expected to maintain stable demand, with domestic brands leading the market [49][51] - The oral care segment is experiencing a shift towards higher-value products driven by consumer demand for efficacy, with domestic brands like Deng Kang Oral Care gaining market share [53][54] - Key companies to watch include Baiya Co. and Deng Kang Oral Care, which are well-positioned to capitalize on these trends [49][53] Group 4: Apparel and Footwear - The apparel retail sector showed moderate growth in H1 2025, with a year-on-year increase of 3.3% in retail sales from January to May [8][14] - Outdoor brands are performing exceptionally well, with high-end outdoor brands like Amer Sports and Anta showing significant revenue growth [8][15] - Recommended companies include Anta Sports for its strong outdoor brand growth and Mercury Home Textiles for its effective marketing strategies [15][16] Group 5: Textile Manufacturing - The textile manufacturing sector is witnessing a shift in export share towards Southeast Asia, with a notable decline in imports from China to the U.S. [8][18] - The report indicates that U.S. apparel imports from Southeast Asia are increasing, while imports from China are decreasing, suggesting a strategic shift in manufacturing locations [18][19] - Companies with diversified production capabilities across regions are recommended for investment consideration [18][19] Group 6: Home Furnishings - The home furnishings market is experiencing growth driven by government policies encouraging upgrades, with furniture retail sales in May 2025 showing a year-on-year increase of 25.6% [8][20] - Key players in the home furnishings sector include Gujia Home and Oppein Home, which are expected to benefit from the ongoing market trends [20][21]

Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng Law Firm confirms that the procedures for convening and holding the 2025 first extraordinary general meeting of shareholders of Shanghai Mercury Home Textile Co., Ltd. comply with relevant laws and regulations, ensuring the legality and validity of the resolutions passed at the meeting [1][7]. Group 1: Meeting Procedures - The board of directors announced the meeting notice for the extraordinary general meeting on June 4, 2025, in accordance with the company's articles of association [2][3]. - The meeting utilized a combination of on-site voting and online voting, with the on-site meeting held on June 19, 2025, at 14:00 in Shanghai [3][4]. Group 2: Attendance and Qualifications - A total of 16 shareholders attended the on-site meeting, representing 182,595,300 shares, which accounts for 70.4992% of the total voting shares [4]. - Additionally, 86 shareholders participated in the online voting, representing 20,408,878 shares, or 7.8798% of the total voting shares [4]. Group 3: Voting Procedures and Results - The meeting's voting procedures were conducted in accordance with the announced agenda, with no modifications or new proposals introduced [5]. - The voting was overseen by shareholder representatives, supervisor representatives, and the law firm, ensuring compliance with the relevant regulations [5]. - The resolutions passed during the meeting were confirmed to be legal and valid based on the combined results of on-site and online voting [5][7].

Meeting Overview - The first meeting of the sixth board of directors of Shanghai Mercury Home Textile Co., Ltd. was held on June 19, 2025, with all nine directors present, including one participating via communication [1] - The meeting was conducted in accordance with the Company Law of the People's Republic of China and the company's articles of association, making the resolutions legally valid [1] Election of Board Members - The board elected Mr. Li Yulu as the chairman of the sixth board of directors, with a term consistent with the board's duration [1] - Mr. Li Laibin was elected as the vice chairman of the sixth board of directors, also with a term aligned with the board's duration [2] Committee Appointments - The board established various specialized committees, including: - Strategic Committee: Mr. Li Yulu (Chair), Mr. Li Laibin, Mr. Li Yugao, Ms. Yang Hongqin, Mr. Wang Dihai [2] - Audit Committee: Mr. Wu Zhongsheng (Chair), Ms. Yang Hongqin, Ms. Li Lijun [2] - Compensation and Assessment Committee: Ms. Yang Hongqin (Chair), Mr. Wang Dihai, Mr. Li Yulu [2] - Nomination Committee: Mr. Wang Dihai (Chair), Mr. Wu Zhongsheng, Mr. Li Yulu [2] Executive Appointments - Mr. Li Yulu was reappointed as the president of the company, with a term consistent with the board's duration [3] - Mr. Li Laibin was reappointed as the executive vice president, Mr. Li Yugao and Ms. Li Jie were reappointed as vice presidents, all with terms aligned with the board's duration [3] Other Appointments - Ms. Tian Yi was reappointed as the board secretary, and Mr. Sun Zigang was reappointed as the financial director, both with terms consistent with the board's duration [4] Stock Incentive Plan - The board approved the achievement of conditions for the first unlock period of the 2024 restricted stock incentive plan, allowing for the unlocking of shares for eligible participants [4]

Core Viewpoint - The Shanghai Mercury Home Textile Co., Ltd. has successfully met the conditions for the first unlock period of its 2024 restricted stock incentive plan, allowing for the release of shares to eligible participants [2] Summary by Relevant Sections Incentive Plan Overview - The company has conducted a review of the first unlock conditions of its 2024 restricted stock incentive plan and confirmed that the conditions have been met [2] - The number of eligible participants for the unlock is 65, with a total of 1.7388 million shares to be released, representing 0.6620% of the company's total share capital [2] Compliance and Authorization - The release of shares complies with relevant laws and regulations, and does not harm the interests of the company or its shareholders [2] - The board's compensation and assessment committee has agreed to proceed with the share release according to the relevant regulations [2]