地素时尚股份有限公司2025 年半年度报告 重要提示 一、 本公司董事会及董事、高级管理人员保证半年度报告内容的真实性、准确性、完整性，不 存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 地素时尚股份有限公司2025 年半年度报告 公司代码：603587 公司简称：地素时尚 1 / 137 地素时尚股份有限公司 2025 年半年度报告 四、 公司负责人马瑞敏、主管会计工作负责人张俊及会计机构负责人（会计主管人员）黄彩芬 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 不适用 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告所涉及的未来计划、发展战略等前瞻性陈述，不构成公司对投资者的实质承诺，请投 资者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 公司已在本报告中详细描述了存在的相关风险，敬请参阅本报告"第三节管理层讨论与分析" 之"五、其他披露事项"之"（一）可能面对的风险" ...

证券代码：603587 证券简称：地素时尚 公告编号：2025-043 地素时尚股份有限公司 2025 年第二季度主要经营数据的公告 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。 备注：DA 指 DAZZLE 品牌 DM 指 DIAMOND DAZZLE 品牌 DZ 指 d'zzit 品牌 RA 指 RAZZLE 品牌 （下同） 二、2025 年 1-6 月按品牌收入、成本和毛利分析 | 品牌 | 营业收入 | | 营业成本 | | 毛利率 | | | --- | --- | --- | --- | --- | --- | --- | | | 金额 | 同比 | 金额 | 同比 | 当期 | 上年 同期 | | DA | 548,448,128.39 | -4.15% | 125,152,818.92 | -7.79% | 77.18% | 76.28% | | DM | 52,112,684.66 | -22.91% | 9,225,926.42 | -32.63% | 82.30% | 79.74% | | DZ | 4 ...

Market Performance - The primary economic sector rose by 0.76% compared to the previous trading day, with *ST Yanzhen leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Stock Highlights - *ST Yanzhen closed at 27.29, up 5.00% with a trading volume of 15,500 and a transaction value of 42.0171 million [1] - Other notable stocks include: - Tingwai Rongmi at 16.67, up 4.51% with a trading volume of 148,900 and a transaction value of 245 million [1] - Kairun Co., Ltd. at 23.43, up 4.18% with a trading volume of 48,500 and a transaction value of 113 million [1] - Wushang Group at 11.52, up 1.23% with a trading volume of 405,700 and a transaction value of 459 million [1] Capital Flow Analysis - The primary economic sector experienced a net outflow of 136 million from main funds, while retail investors saw a net inflow of 154 million [2] - The capital flow for individual stocks shows: - Wushang Group had a net inflow of 23.7578 million from main funds, but a net outflow of 17.1747 million from speculative funds [3] - Yimin Group had a net inflow of 12.2702 million from main funds, with a net outflow of 3.8982 million from speculative funds [3] - *ST Yanzhen had a net inflow of 3.6343 million from main funds, with a net outflow of 4.1877 million from retail investors [3]

证券代码：603587 证券简称：地素时尚 公告编号：2025-042 地素时尚股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 二、说明会召开的时间、地点 （一）会议召开时间：2025 年 9 月 3 日（星期三）下午 16:00-17:00 （二）会议召开地点：上海证券交易所上证路演中心（网址： ? 会议召开时间：2025 年 9 月 3 日（星期三）下午 16:00-17:00 ? 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com/） ? 会议召开方式：上证路演中心网络互动 ? 投资者可于 2025 年 8 月 27 日（星期三）至 9 月 2 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 info@dazzle-fashion.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 地素时尚股份有限公司（以下简称"公司"）将于 2025 ...

证券代码：603587 证券简称：地素时尚 公告编号：2025-042 地素时尚股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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： 会议召开时间：2025 年 9 月 3 日（星期三）下午 16:00-17:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 8 月 27 日（星期三）至 9 月 2 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 info@dazzle-fashion.com 进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 （ 二 ） 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） （三）会议召开方式：上证路演 ...

Investment Rating - The report does not explicitly provide an investment rating for the apparel industry Core Insights - The luxury brand market in China is experiencing a slowdown, with a 38% decrease in new store openings and a 30% decline in store renovations in the first half of 2025, yet brands like Louis Vuitton and Tiffany continue to invest in large store openings, indicating confidence in the market [4][6] - The outdoor sports brands are increasingly capturing market share from luxury brands by adopting high-end strategies and innovative designs, with a focus on enhancing customer experience [6][7] - The domestic sportswear market is facing challenges, with growth slowing to 5.9%, and major brands like Anta and Li Ning experiencing stagnation, prompting a need for strategic shifts [7][9] - The rise of natural materials in clothing, particularly linen, is becoming a trend, with a reported 3.1% increase in retail sales in the apparel sector [13] - The sunscreen clothing market is projected to exceed 80 billion yuan in 2024, driven by increased consumer awareness and demand for outdoor activities [14] Industry Trends - The perfume business is becoming a significant area for fashion brands, with the global perfume market expected to grow from $53 billion in 2025 to $77.53 billion by 2032, highlighting a trend towards high-end niche fragrances [4] - The luxury goods sector is facing a potential zero growth period globally, with a significant drop in consumer spending among Generation Z, leading to a shift towards more value-driven purchases [9] - The innerwear market is undergoing a transformation, with traditional brands struggling while new brands focusing on comfort and innovative designs are gaining traction [10] - The trend of debranding is emerging, with niche retro brands gaining popularity by emphasizing craftsmanship and authenticity [10] Brand Dynamics - Bosideng is expanding into the sunscreen clothing market, but faces challenges in maintaining high-end positioning while competing with more cost-effective options [16] - La Chapelle has successfully transitioned from bankruptcy to becoming a top seller on Douyin by adopting a brand authorization model, although it faces challenges in quality control [17] - District Vision is establishing itself in the outdoor fashion space with high-end sports eyewear, focusing on craftsmanship and sustainability [20] - Lao Pu Gold is experiencing significant revenue growth, with projected earnings of 12 to 12.5 billion yuan in the first half of 2025, driven by product optimization and channel expansion [20] - The brand GU is closing stores in China as part of a strategic realignment, indicating challenges in market penetration despite initial growth [24]

Market Performance - The primary economic sector increased by 0.97% compared to the previous trading day, with Yaowang Technology leading the gains [1] - The Shanghai Composite Index closed at 3728.03, up 0.85%, while the Shenzhen Component Index closed at 11835.57, up 1.73% [1] Individual Stock Performance - Yaowang Technology (002291) closed at 6.70, rising by 3.40% with a trading volume of 597,700 shares and a transaction value of approximately 67.6 million [1] - Shanghai Phoenix (600679) closed at 13.23, up 2.64%, with a trading volume of 148,500 shares and a transaction value of approximately 197 million [1] - Dafeng Industrial (603081) closed at 13.78, increasing by 1.92%, with a trading volume of 364,800 shares and a transaction value of approximately 509 million [1] - Other notable performers include Liansheng Co. (600826) with a 1.55% increase and a transaction value of approximately 274 million [1] Capital Flow Analysis - The primary economic sector experienced a net outflow of 55.36 million from institutional investors, while retail investors saw a net inflow of 30.52 million [2] - The net inflow from speculative funds was 24.84 million, indicating a mixed sentiment among different investor types [2] Detailed Capital Flow for Selected Stocks - Liansheng Co. (600826) had a net inflow of 15 million from institutional investors but a net outflow of 9.83 million from speculative funds [3] - Yaowang Technology (002291) saw a net inflow of 11.03 million from institutional investors, while speculative funds experienced a net outflow of 21.64 million [3] - Liyade (300296) had a net inflow of 7.75 million from institutional investors, with a significant net inflow of 31.19 million from speculative funds [3]

Market Performance - The apparel and home textile sector increased by 0.67% on August 15, with Dizhu Fashion leading the gains [1] - The Shanghai Composite Index closed at 3696.77, up 0.83%, while the Shenzhen Component Index closed at 11634.67, up 1.6% [1] Top Gainers - Dizhu Fashion (603587) closed at 13.60, up 5.59% with a trading volume of 100,100 shares and a turnover of 133 million yuan [1] - Tianchuang Fashion (603608) closed at 7.21, up 5.56% with a trading volume of 237,600 shares and a turnover of 168 million yuan [1] - ST Qibu (603557) closed at 2.71, up 4.63% with a trading volume of 152,800 shares and a turnover of 40.87 million yuan [1] Top Losers - Langsha Co., Ltd. (600137) closed at 20.04, down 1.86% with a trading volume of 40,400 shares and a turnover of 80.92 million yuan [2] - Russia's Location (002494) closed at 5.07, down 1.74% with a trading volume of 112,100 shares and a turnover of 57.51 million yuan [2] - Ru Yi Zhi Tuan (002193) closed at 6.02, down 1.63% with a trading volume of 102,300 shares and a turnover of 62.31 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 92.42 million yuan from institutional investors, while retail investors saw a net inflow of 171 million yuan [2][3] - Major stocks like ST Er Ya (600107) had a net inflow of 21.70 million yuan from institutional investors, but a net outflow from retail investors [3]

（文章来源：证券日报） 证券日报网讯 8月12日晚间，地素时尚发布公告称，近日，公司完成工商变更登记，并换发了新的营业 执照。变更后的公司注册资本为人民币474，092，787万元。 ...

证券代码：603587 证券简称：地素时尚 公告编号：2025-041 地素时尚股份有限公司 关于完成工商变更登记并换发营业执照的公告 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。 地素时尚股份有限公司（以下简称"公司"或"地素时尚"）于 2025 年 4 月 28 日召开第四届董事会第十五次会议，审议通过了《关于注销部分股票期权 与回购注销部分限制性股票的议案》《关于取消监事会及修订<公司章程>的议 案》，拟于取消监事会、变更公司注册资本的同时对现行《公司章程》相关条款 进行修订。公司回购注销的限制性股票数量合计为 2,670,495 股，上述注销事项 完成后，公司股本总数将由 476,763,282 股变更为 474,092,787 股，公司注册资本 也相应的将由 476,763,282 元减至 474,092,787 元。 2025 年 7 月 24 日，公司完成上述已获授但尚未解除限售的限制性股票的回 购注销工作，具体内容详见公司于 2025 年 7 月 22 日披露在上海证券交易所网站 （www.sse.com.c ...