证券代码：603587 证券简称：地素时尚 公告编号：2025-029 地素时尚股份有限公司 2024年年度股东会决议公告 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： | 1、出席会议的股东和代理人人数 | 158 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 369,744,500 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份 | 78.7837 | | 总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 本次会议采用现场投票和网络投票相结合的方式召开，会议召集、召开程序 符合《公司法》等有关法律法规、部门规章、规范性文件及《公司章程》的有关 规定。会议由副董事长马丽敏女士主持。 (五)公司董事、监事和董事会秘书的出席情况 1、公司在任董事8人，出席8人； 2、公司在任监事 3 人，出席 3 人； 3、 公司董事会秘书沈志春先生出席了本次股东大会；公司总经理马瑞敏女士、 副总经理马丽敏女士、副总经理 ...

上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于地素时尚股份有限公司 上海市锦天城律师事务所 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：+86-21-2051-1000 传真：+86-21-2051-1999 邮编：200120 上海市锦天城律师事务所 法律意见书 2024 年年度股东大会的 法律意见书 上海市锦天城律师事务所 关于地素时尚股份有限公司 2024 年年度股东大会的 法律意见书 致：地素时尚股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受地素时尚股份有限公司 （以下简称"地素时尚"或"公司"）的委托，就公司召开 2024 年年度股东大 会（以下简称"本次股东大会"）的有关事宜，根据《中华人民共和国公司法》 （以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券 法》"）、《上市公司股东会规则》等法律、法规、规章和其他规范性文件以及 《地素时尚股份有限公司章程》（以下简称"《公司章程》"）、《地素时尚股 份有限公司股东大会议事规则》（以下简称"《股东大会议事规则》"）的有关 规定，出具本法律意见书。 为出具本法律意见 ...

证券代码：603587 证券简称：地素时尚 公告编号：2025-031 地素时尚股份有限公司 第五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 地素时尚股份有限公司（以下简称"公司"）于 2025 年 5 月 28 日 16 时 30 分以现场结合通讯方式在上海市普陀区丹巴路 28 弄 1-2 号旭辉世纪广场 8 号楼 7 楼会议室召开了第五届董事会第一次会议。公司于 2025 年 5 月 16 日以专人送出、 电子邮件、快递、电话、传真或公告的方式向全体董事和高级管理人员发出会议 通知。会议应到董事 9 名，实到董事 9 名；公司高级管理人员列席会议。会议的 召集、召开及表决程序符合《中华人民共和国公司法》（以下简称"《公司法》"） 和《公司章程》的有关规定，会议决议合法有效。 二、董事会会议审议情况 本次会议推举马丽敏女士主持，与会董事经过审议，以记名投票的表决方式 审议通过了如下议案： 1、审议通过了《关于选举公司第五届董事会审计委员会委员的议案》。 结合各位董事专业 ...

Core Viewpoint - The company is preparing for its 2024 annual shareholder meeting, focusing on various proposals including the approval of the 2024 annual report, the election of board members, and the discussion of future business strategies amidst a challenging market environment [1][2][5]. Company Proposals - Proposal 1: Approval of the 2024 annual report and its summary, which has been reviewed and approved by the board [5][6]. - Proposal 2: Approval of the 2024 board work report, summarizing the board's main activities and the company's operational status [6][7]. - Proposal 3: Election of the fifth board of directors, including both independent and non-independent candidates [1][2]. Financial Performance - In 2024, the company reported a revenue of 2.218 billion yuan, a decrease of 16.23% compared to the previous year [13]. - The net profit attributable to shareholders was 303.51 million yuan, down 38.52% year-on-year [13]. Strategic Focus - The company is emphasizing a dual strategy of deepening core product offerings while scaling basic products to enhance market competitiveness and profitability [16][17]. - Digital transformation initiatives are being prioritized, including the establishment of a comprehensive product lifecycle system and enhanced data analytics capabilities [18][19]. Brand Development - The company is launching new product lines that reflect its brand philosophy of "Love Creates," aiming to connect emotionally with consumers through innovative marketing campaigns [14][15]. - A new "Clock Flower" series is being introduced, symbolizing the brand's commitment to embracing beauty and time [22][23]. Sustainability Initiatives - The company is collaborating with environmental organizations to promote biodiversity and sustainable practices, including the launch of a capsule collection supporting panda conservation [21]. - A new sustainable series, "loveREcreates," is being introduced, focusing on the creative reuse of materials and classic products [21]. Future Plans - The company plans to enhance its organizational structure and talent development strategies to better align with market demands and improve operational efficiency [26][27]. - A focus on integrating online and offline channels is set to improve customer experience and brand consistency [24][25].

Page 2/56 | | | | 会议须知 | | | | | 3 | | --- | --- | --- | --- | --- | --- | | 会议议程 | | | | | 5 | | 议案 1 | 关于公司 2024 | 年年度报告及其摘要的议案 | | | 8 | | 议案 2 | 关于公司 2024 | 年度董事会工作报告的议案 | | | 9 | | 议案 3 | 关于公司 2024 | 年度监事会工作报告的议案 | | | 20 | | 议案 4 | 关于公司 2024 | 年度财务决算报告的议案 | | | 26 | | 议案 5 | 关于公司 2024 | 年度利润分配预案的议案 | | | 30 | | 议案 6 | 关于确认公司董事、监事 | 年度薪酬及 2024 | | 年度薪酬方案的议案 2025 | 32 | | 议案 7 | 关于续聘 2025 | 年度会计师事务所的议案 | | | 33 | | 议案 8 | | 关于取消监事会及修订《公司章程》的议案 | | | 34 | | 议案 9 | | 关于修订公司部分制度的议案 | | | 35 | | 议案 10 | | 关 ...

Core Viewpoint - The financial report for 2024 serves as a warning for Dazzle Fashion, showing a significant decline in revenue and net profit, indicating challenges in brand value, channel efficiency, and inventory management [1] Group 1: Financial Performance - The total revenue for Dazzle Fashion in 2024 was 2.219 billion yuan, a year-on-year decrease of 16.23% [1] - The net profit attributable to the parent company was 304 million yuan, reflecting a decline of 38.52% [1] Group 2: Sales Decline - The multi-brand strategy of Dazzle Fashion appears to be failing, with all product categories experiencing revenue declines: clothing sales down 16.29%, tops down 15.17%, outerwear down 18%, fur down 33.25%, skirts down 13.63%, and pants down 17.93% [2] - Sales in all regions also saw declines, with the most significant drop in South China at 21.92% and Central China at 23.15% [2] Group 3: Inventory and Cash Flow Issues - The company closed 147 stores, indicating a negative cycle of channel adjustments [3] - Operating cash flow net amount plummeted by 43.15%, while inventory value increased by 8.28% to 420 million yuan, suggesting a delay in addressing inventory issues at the cost of cash flow [3] - The inventory turnover days increased to 260.51 days, indicating a decline in inventory turnover efficiency [3] Group 4: Strategic Recommendations - The core issue for Dazzle Fashion is the failure of the traditional mid-to-high-end women's wear business model, necessitating a transformation beyond mere store adjustments [4] - Key strategies for overcoming challenges include reconstructing brand DNA, embracing digital flexible supply chains, and exploring new retail models like "content e-commerce + membership ecosystem" [4] - The transformation window is narrowing, and failure to adapt may result in a loss of industry influence [4]

Investment Rating - The report maintains an "Outperform" rating for the company [2] Core Views - The company has shown an improvement in gross margin, reflecting operational quality, and is expected to benefit from a sales recovery leading to performance improvement [8] - The company reported a revenue decline of 16.2% year-on-year for 2024, with a net profit decline of 38.5% [9][10] - The company is focusing on maintaining brand quality and optimizing offline channel structures despite short-term retail pressures [8] Financial Data and Earnings Forecast - Total revenue for 2024 is projected at 2,219 million, with a year-on-year decline of 16.2%, and a net profit of 304 million, down 38.5% [7] - For 2025, the company expects revenue to recover slightly to 2,269 million, with a net profit of 324 million, reflecting a growth of 6.7% [7] - The gross margin is expected to remain stable around 75% for the next few years, with a slight increase projected for 2025 [7][10] - The company’s return on equity (ROE) is forecasted to improve gradually from 8.2% in 2025 to 8.8% in 2027 [7] Brand and Channel Performance - The men's clothing brand outperformed women's clothing in terms of revenue, with the women's brands showing an increase in gross margin [8] - Offline channels have shown better gross margins, with a focus on optimizing store efficiency and user experience [8] - The company has closed several stores across its brands, indicating a strategic adjustment in response to market conditions [8]

Group 1 - Shengyi Electronics plans to repurchase shares with a total amount between 50 million and 100 million yuan, at a price not exceeding 43.02 yuan per share, for employee stock ownership plans [1] - Guoyao Modern's subsidiary has passed the consistency evaluation for the quality and efficacy of a generic drug, which is used for treating severe infections [1] - Tianhe Magnetic Materials' subsidiaries have obtained project filing notices for high-performance rare earth permanent magnet projects, with total investments of 100 million yuan and 50 million yuan respectively [1][2] Group 2 - Dream Lily intends to repurchase shares with an amount between 85 million and 170 million yuan, at a price not exceeding 10.90 yuan per share, supported by a loan commitment of up to 150 million yuan [3] - Weifu High-Tech has received a loan commitment of up to 135 million yuan from a financial institution for share repurchase [3] Group 3 - Lu'an Environmental Energy reported a coal sales volume of 4.51 million tons in April, a year-on-year increase of 17.75% [5] - *ST Tianshan reported a significant decline in livestock sales and revenue, with a revenue of 70,500 yuan in April, down 95.68% year-on-year [7] Group 4 - Feirongda announced a cash dividend of 0.38 yuan per 10 shares, with a total distribution of 21.9 million yuan [8] - Zhejiang Rongtai's shareholders and executives plan to reduce their holdings by up to 1.93% of the company's shares [9] Group 5 - Changhua Group's subsidiary won the land use rights for an industrial site in Ningbo for 27.05 million yuan, intended for manufacturing and related business [11] - Zejing Pharmaceutical's new drug application for a treatment for severe alopecia has been accepted by the regulatory authority [13][14] Group 6 - Hainan Mining plans to distribute a cash dividend of 0.8 yuan per 10 shares, totaling 1.59 billion yuan [15] - China Jushi plans to distribute a cash dividend of 0.24 yuan per share, totaling 9.61 billion yuan [16] Group 7 - Zhengzhong Design's subsidiary has obtained a utility model patent for an acrylic signage guide [18] - Rundu Co., Ltd. received approval for a veterinary drug product, which is intended for treating bacterial diseases in livestock [20] Group 8 - Emei Mountain A announced the resignation of its general manager due to work reasons [22] - Tonghua Dongbao's insulin injection has received a registration certificate in Nicaragua, allowing for sales in that market [23] Group 9 - Dizu Fashion's subsidiary has completed the registration of a private equity investment fund [24] - Ningbo Gaofa plans to increase capital by 60 million yuan in its subsidiary for operational needs [26] Group 10 - Haichuan Intelligent has obtained two utility model patents for material handling devices [27] - Newland's subsidiary signed a deep cooperation agreement with Alibaba Cloud for AI model applications [29] Group 11 - Rui Neng Technology's controlling shareholder plans to reduce its stake by up to 2.89% [30] - Guomai Culture intends to repurchase shares between 50 million and 100 million yuan for capital reduction [31] Group 12 - Shaanxi Construction won major construction projects totaling 7.88 billion yuan in April [32] - Hanyu Pharmaceutical signed a joint development agreement for a new peptide drug with a partner [34] Group 13 - Yunnan Copper is planning to acquire a 40% stake in Liangshan Mining, leading to a stock suspension [35] - Haizheng Pharmaceutical plans to repurchase shares between 50 million and 100 million yuan for employee stock ownership [36] Group 14 - Tianqiao Hoisting's controlling shareholder plans to increase its stake by 75 million to 150 million yuan [37] - Tiandi Online's controlling shareholder is transferring shares to introduce a strategic investor [38] Group 15 - Hongchang Technology plans to invest 15 million yuan in a joint venture with a partner [39] - Rabbit Baby's subsidiary is preparing for an IPO in Hong Kong [41] Group 16 - Wol Nuclear Materials is planning to issue H-shares for listing in Hong Kong [42] - Tangyuan Electric plans to raise up to 864 million yuan through a private placement for various projects [43] Group 17 - Tongrun Equipment's major shareholders plan to reduce their holdings by up to 2% [44] - Linzhou Heavy Machinery plans to raise up to 600 million yuan through a private placement [46] Group 18 - China Merchants Securities announced the resignation of its vice president [47] - Shangsheng Electronics plans to issue convertible bonds to raise up to 330 million yuan for various projects [48] Group 19 - Longda Co., Ltd.'s major shareholder plans to reduce its stake by up to 1% [49] - China Medical plans to acquire 100% of Jinsui Technology for 302 million yuan [50] Group 20 - Silek has signed a strategic cooperation agreement with a battery manufacturer [51] - Boyun New Materials' major shareholder plans to reduce its stake by up to 3% [53]

证券代码：603587 证券简称：地素时尚 公告编号：2025-028 2025 年 5 月 12 日，公司收到基金管理人的通知，基金已在中国证券投资基 金业协会完成备案手续，取得了《私募投资基金备案证明》，备案信息如下： 公司将严格按照相关法律法规的要求，对基金的后续进展情况及时履行披露 义务，敬请广大投资者注意投资风险。 1. 基金名称：长沙泉仲创业投资合伙企业（有限合伙） 2. 管理人名称：苏州维特力新创业投资管理有限公司 3. 托管人名称：中国光大银行股份有限公司 4. 备案时间：2025 年 5 月 12 日 5. 备案编码：SANQ22 特此公告。 地素时尚股份有限公司 关于全资子公司参与投资的私募股权投资基金 完成备案登记的公告 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。 一、基本情况 地素时尚股份有限公司（以下简称"公司"）的全资子公司上海亿炘股权投 资有限公司认购长沙泉仲创业投资合伙企业（有限合伙）（以下简称"合伙企业" 或"基金"）基金份额并成为合伙企业的有限合伙人之一。具体内容详见公司于 2025 年 ...

Core Insights - The apparel industry continues to exhibit high gross margins and low net margins, with over half of the selected 25 listed companies achieving gross margins above 50% and many exceeding 65%, while net margins are generally below 15% [1][6] Group 1: Gross Margin Analysis - Among the selected companies, the top three in terms of gross margin for 2024 are: - Bi Yi Le Fen at 77.01% - Di Su Shi Shang at 74.84% - Jin Hong Group at 68.63% [1] - Only two companies, Mu Gao Di and Mei Bang Fu Shi, reported gross margins below 40%, with figures of 28.48% and 27.44% respectively [1] Group 2: Net Margin Analysis - A significant number of companies have net margins below 7%, with 14 out of 25 companies falling into this category [2] - The net margins for specific companies are as follows: - Jin Hong Group at 6.97% - Mu Gao Di at 6.42% - Jiu Mu Wang at 5.48% - Ai Mu Shares at 5.27% - Lang Zi Shares at 5.19% - Tu Lu Zhe at 4.70% - Du Shi Li Ren at 3.83% - Tai Ping Niao at 3.77% - Xin He Shares at -4.79% - An Zheng Shi Shang at -6.50% - Ge Li Si at -8.42% - San Fu Outdoor at -10.65% - An Nai Er at -18.13% - Mei Bang Fu Shi at -28.70% [4][6] Group 3: Trends and Observations - In 2024, nine companies experienced simultaneous declines in both gross and net margins, including Mei Bang Fu Shi, An Zheng Shi Shang, Xin He Shares, An Nai Er, Bi Yi Le Fen, Ai Mu Shares, Zhong Guo Li Lang, Ge Li Si, and Sen Ma Fu Shi [2][6] - The disparity between gross and net margins is attributed to high selling expense ratios in the textile and apparel industry, which significantly erodes profits [6]