以下文章来源于有意思报告 ，作者王涵艺 有意思报告 . 有意思报告，报告有意思！《中国新闻周刊》旗下生活方式新媒体 来源丨有意思报告（ youyisi_cn ） 作者丨王涵艺 编辑丨陈燕妮 图源丨 Teenie Weenie微博 这个长假前， Teenie Weenie 靠着代言人赵露思，火了一把。 这场品牌在西安某购物中心举办的旗舰店开业快闪， 吸引了超4万人聚集。 尽管赵露思仅是匆匆现身，但 Teenie Weenie 当日销量噌噌上涨。品牌 发布 战报 称， 该旗舰店当 日门店销售额达30万元， "赵露思同款"千金牛角扣大衣 全平台销售额破800万元，首日 电商GMV 也 突破历史峰值。 Teenie Weenie 西安快闪现场 | 图源：小红书@小马快跑_（已获授权） 与 快闪活动的 火热不同，深入财报背后，Teenie Weenie母公司锦泓集团的财报却呈现另一番景象 。 2025年上半年营收同比下滑4.04%，净利润下滑23.03%。 其中， 占集团总营收78% 的 Teenie Weenie ，营收15.6亿元，同样下滑3.78%。 一边是万人空巷的追捧，一边是持续下滑的业绩，这只曾经风靡一时的 ...

汇添富消费行业混合（000083）基金经理为胡昕炜。 截至发稿，胡昕炜累计任职时间9年193天，现任基金资产总规模290.11亿元，任职期间最佳基金回报 139.97%， 任职期间最差基金回报-31.61%。 10月15日，锦泓集团涨5.03%，截至发稿，报10.44元/股，成交1.88亿元，换手率5.31%，总市值36.14亿 元。 资料显示，锦泓时装集团股份有限公司位于江苏省南京市建邺区茶亭东街240号，成立日期2003年3月14 日，上市日期2014年12月3日，公司主营业务涉及中高档服装的设计研发、生产制造、品牌营销及终端 销售。主营业务收入构成为：TeenieWeenie-女装52.07%，TeenieWeenie-童装16.23%，TeenieWeenie-男 装10.04%，VGRASS-裙子6.00%，VGRASS-上衣6.00%，VGRASS-外套3.23%，VGRASS-其他2.50%， 云锦-织锦1.85%，其他(补充)1.30%，IP授权0.76%。 从锦泓集团十大流通股东角度 数据显示，汇添富基金旗下1只基金位居锦泓集团十大流通股东。汇添富消费行业混合（000083）二季 度新进十大 ...

Core Points - The Shanghai Composite Index is at 3873.15 points, above the six-month moving average, with a decline of 0.42% [1] - The total trading volume of A-shares today is 20,878.49 billion yuan [1] - A total of 128 A-shares have surpassed the six-month moving average, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - Stocks with the highest deviation rates include: - Aienju (6.89% deviation, 9.39% increase, trading volume 22.19%) - Kaiteng Gas (4.10% deviation, 5.45% increase, trading volume 6.84%) - Huifeng Diamond (3.82% deviation, 10.50% increase, trading volume 19.75%) [1] - Other stocks that just crossed the six-month line include: - Two-sided Needle, China Merchants Securities, and Guangji Pharmaceutical with minimal deviation rates [1] Trading Data - The trading data for stocks that broke the six-month line includes: - Nanjing Public (4.20% increase, 4.78% trading volume, 6.46 yuan six-month line, 6.70 yuan latest price, 3.79% deviation) - Ji'an Medical (4.19% increase, 3.45% trading volume, 38.37 yuan six-month line, 39.79 yuan latest price, 3.70% deviation) [1] - The overall trading activity reflects a diverse range of stocks with varying performance metrics [1]

这个长假前，Teenie Weenie靠着代言人赵露思，火了一把。 这场品牌在西安某购物中心举办的旗舰店开业快闪，吸引了超4万人聚集。 值得关注的是，Teenie Weenie签约赵露思作为代言人并不是一天两天了，甚至都不是一年两年，而是长达五年之久。 尽管赵露思仅是匆匆现身，但Teenie Weenie当日销量噌噌上涨。品牌发布战报称，该旗舰店当日门店销售额达30万元，"赵露思同款"千金牛角扣大衣全平 台销售额破800万元，首日电商GMV也突破历史峰值。 Teenie Weenie西安快闪现场 | 图源：小红书@小马快跑_（已获授权） 与快闪活动的火热不同，深入财报背后，Teenie Weenie母公司锦泓集团的财报却呈现另一番景象。2025年上半年营收同比下滑4.04%，净利润下滑 23.03%。其中，占集团总营收78%的Teenie Weenie，营收15.6亿元，同样下滑3.78%。 一边是万人空巷的追捧，一边是持续下滑的业绩，这只曾经风靡一时的"小熊"，到底怎么了？ Teenie Weenie线下门店 | 王涵艺 摄 日子并不好过？ 那么这几年来，Teenie Weenie又卖得如何？ 除去2025 ...

Group 1: Export Chain - The export chain is expected to see improved sentiment and performance, with clarity on tariff arrangements boosting order placement by brands [1][9] - Major brands like Nike and Adidas are cautiously optimistic about demand recovery, with Nike reporting a slight revenue and gross margin beat in its recent quarterly results [2][12] - Leading manufacturers have begun to see performance improvements in Q3, with companies like Xin'ao and Bailong Dongfang anticipating revenue growth driven by increased orders [3][19] Group 2: Investment Themes - Key investment themes include leading sports and leisure brands such as Nike, Adidas, and Uniqlo, along with their core suppliers like Shenzhou International and Huayi Group, which have attractive PE ratios for 2025 [4][21] - Upstream manufacturers showing short-term order improvements and medium-term market share gains include Xin'ao and Weixing, which are expected to benefit from rising raw material prices [4][21] Group 3: Brand Apparel - The brand apparel sector continues to show signs of divergence, with retail performance impacted by fluctuating offline traffic and intense online competition [5][22] - Despite challenges, companies like Hailan Home and Luolai Life are expected to maintain positive revenue growth due to strong online and offline sales strategies [6][26] Group 4: Market Outlook - The overall market outlook for the textile and apparel industry remains cautiously optimistic, with expectations of gradual recovery in demand and performance improvements across various segments [1][9][22] - The consumer confidence index shows slight recovery, but consumers remain focused on product functionality and value for money [5][22]

根据中国证监会《关于上市公司实施员工持股计划试点的指导意见》及《上 海证券交易所上市公司自律监管指引第 1 号——规范运作》等要求，现将公司第 一期锦泓领航员工持股计划实施进展情况公告如下： 1.公司第一期锦泓领航员工持股计划已在中国证券登记结算有限责任公司 开立证券交易账户； 2.公司第一期锦泓领航员工持股计划第一次持有人会议已召开并选举产生 管理委员会委员； 证券代码：603518 证券简称：锦泓集团 公告编号：2025-064 锦泓时装集团股份有限公司 关于第一期锦泓领航员工持股计划实施进展的公告 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。 锦泓时装集团股份有限公司（以下简称"公司"）于 2025 年 7 月 30 日、2025 年 9 月 8 日召开第五届董事会第三十九次会议和 2025 年第二次临时股东大会， 审议通过《关于<锦泓集团第一期锦泓领航员工持股计划（草案）>及其摘要的议 案》、《关于<锦泓集团第一期锦泓领航员工持股计划管理办法>的议案》、《关 于提请股东大会授权董事会全权办理公司第一期锦泓领航员 ...

证券代码：603518 证券简称：锦泓集团 公告编号：2025-063 锦泓时装集团股份有限公司 第一期锦泓领航员工持股计划 第一次持有人会议决议的公告 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。 锦泓时装集团股份有限公司（以下简称"公司"）于 2025 年 9 月 23 日以现 场和通讯相结合的方式召开了第一期锦泓领航员工持股计划（以下简称"员工持 股计划"）第一次持有人会议（以下简称"持有人会议"或"会议"）。出席会 议的持有人及其代理人共 12 人，代表公司员工持股计划份额 237.844230 万份， 占公司员工持股计划总份额 240.683366 万份的 98.82%。会议由董事陶为民先生 召集主持，本次会议的召集、召开及表决程序符合公司第一期锦泓领航员工持股 计划的有关规定，本次会议审议通过了以下议案： 一、审议通过了《关于设立第一期锦泓领航员工持股计划管理委员会的议案》 为了促进公司第一期锦泓领航员工持股计划日常管理的效率，根据《锦泓时 装集团股份有限公司第一期锦泓领航员工持股计划（草案）》和《锦泓时装 ...

Market Overview - The apparel and home textile sector experienced a decline of 1.0% on September 18, with Jin Hong Group leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Stock Performance - Notable gainers included: - Hongdou Co., Ltd. (600400) with a closing price of 3.03, up 10.18% and a trading volume of 1.36 million shares [1] - Taicaoshi (001234) at 36.50, up 10.01% with a trading volume of 17,400 shares [1] - Zhongwang Fabric (605003) at 25.05, up 5.16% with a trading volume of 42,000 shares [1] - Major decliners included: - Jin Hong Group (603518) at 10.10, down 4.90% with a trading volume of 331,600 shares [2] - Bangjie Co., Ltd. (002634) at 4.50, down 3.85% with a trading volume of 135,700 shares [2] - Jiama Clothing (301276) at 21.81, down 3.75% with a trading volume of 25,000 shares [2] Capital Flow - The apparel and home textile sector saw a net outflow of 99.065 million yuan from institutional investors, while retail investors contributed a net inflow of 175 million yuan [2] - The detailed capital flow for selected stocks showed: - Hongdou Co., Ltd. had a net inflow of 1.60 million yuan from institutional investors, but a net outflow of 74.004 million yuan from retail investors [3] - Meibang Clothing (002269) had a net inflow of 48.389 million yuan from institutional investors, with a net outflow of 156.7 million yuan from retail investors [3] - Other stocks like Taicaoshi and Zhongwang Fabric also showed varied capital flows, indicating mixed investor sentiment [3]

Market Overview - The apparel and home textile sector experienced a slight decline of 0.14% on September 17, with Aokang International leading the drop [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Top Performers - Taizunshi (001234) saw a significant increase of 10.01%, closing at 33.18 with a trading volume of 10,200 hands and a transaction value of 33.77 million [1] - Jin Hong Group (603518) rose by 4.53%, closing at 10.62 with a trading volume of 467,100 hands and a transaction value of 508 million [1] - Baoxiniang (002154) increased by 3.30%, closing at 4.38 with a trading volume of 3,347,900 hands and a transaction value of 1.519 billion [1] Underperformers - Aokang International (603001) fell by 4.29%, closing at 8.93 with a trading volume of 68,000 hands and a transaction value of 61.40 million [2] - Jiama Clothing (301276) decreased by 2.71%, closing at 22.66 with a trading volume of 26,600 hands and a transaction value of 60.54 million [2] - Wanlima (300591) dropped by 2.68%, closing at 9.80 with a trading volume of 284,100 hands and a transaction value of 281 million [2] Capital Flow - The apparel and home textile sector saw a net outflow of 329 million from institutional investors, while retail investors contributed a net inflow of 484 million [2][3] - Jin Hong Group had a net inflow of 66.78 million from institutional investors, while retail investors had a net outflow of 24.02 million [3] - Dayi Fashion (603196) experienced a net inflow of 27.37 million from institutional investors, with retail investors also seeing a net outflow of 18.17 million [3]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, attributed to a weak retail environment and increased costs, but maintains a positive long-term outlook due to strong flagship store performance and growth in IP licensing and cloud brocade businesses [1][3]. Financial Performance - For 25H1, the company achieved revenue of 1.99 billion yuan, down 4% year-on-year, and a net profit of 110 million yuan, down 23% year-on-year [1]. - In Q2 2025, revenue was 880 million yuan, a decrease of 5% year-on-year, with a net profit of 24.72 million yuan, down 22% year-on-year [1]. Segment Performance - Teenie Weenie brand reported revenue of 1.56 billion yuan in 25H1, a decline of 3.8%, with menswear and childrenswear showing resilience with growth rates of 4.4% and 1.7% respectively [2]. - VGRASS brand experienced a revenue drop of 11.6% to 350 million yuan in 25H1, with a significant decline in franchise income due to store closures [3]. Store Performance - Teenie Weenie opened new flagship stores, achieving significant sales increases, with new stores averaging monthly sales of 399,000 yuan, up 217.2% year-on-year [2]. - VGRASS's new flagship stores also showed improved performance, with new stores averaging monthly sales of 264,000 yuan, up 270% year-on-year [3]. Growth Drivers - The IP licensing business and cloud brocade revenue for Teenie Weenie grew by 62% and 21% respectively, indicating a strong potential for future growth [3]. - The company is focusing on flagship store strategies to enhance brand presence and profitability, despite short-term profit fluctuations [4]. Profitability Metrics - In Q2 2025, gross margin decreased by 1.1 percentage points to 67.3%, while sales expense ratio increased by 1.4 percentage points to 55.4% [4]. - Operating profit margin and net profit margin for Q2 2025 were 3.5% and 2.8% respectively, reflecting the impact of retail challenges [4]. Future Outlook - Revenue projections for 2025-2027 are 4.4 billion, 4.64 billion, and 4.89 billion yuan, with net profits expected to be 290 million, 330 million, and 360 million yuan respectively [5]. - The company maintains a "buy" rating based on the expected improvement in store efficiency and growth in IP licensing and cloud brocade businesses [5].