Company Overview - Ge Li Si (SH 603808) announced on October 29 that its fifth board meeting was held in Shenzhen, discussing the proposal to use idle self-owned funds for entrusted wealth management [1] - As of the report, Ge Li Si's market capitalization is 3.4 billion yuan [1] Financial Performance - For the year 2024, Ge Li Si's revenue composition is as follows: 98.7% from clothing and 1.3% from other businesses [1]

证券代码：603808 证券简称：歌力思 公告编号：2025-026 本次委托理财的金额和期限：公司使用不超过人民币 8 亿元（含 8 亿元） 的闲置自有资金进行委托理财，期限自公司董事会审议通过之日起一年。 在上述额度及期限内，资金可循环滚动使用，并授权公司经营管理层决 定具体实施事宜。 履行的审议程序：已经公司第五届董事会第九次临时会议审议通过，无 需提交公司股东大会审议。 风险提示：金融市场可能受宏观经济的影响有一定的波动性，不排除本 次委托理财受到市场风险、政策风险、流动性风险、不可抗力风险等因 素影响而导致实际收益存在较大的不确定性，敬请广大投资者注意投资 风险。 （一）投资目的 深圳歌力思服饰股份有限公司 关于使用闲置自有资金进行委托理财的公告 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： 深圳歌力思服饰股份有限公司（以下简称"公司"）于2025年10月29日召开 了第五届董事会第九次临时会议，审议通过了《关于使用闲置自有资金进行委托 理财的议案》，同意公司及其全资子（孙）公司、控股子（孙）公司使 ...

详见公司同日在上海证券交易所网站披露的《2025 年第三季度报告》。 证券代码：603808 证券简称：歌力思 公告编号：2025-025 深圳歌力思服饰股份有限公司 第五届董事会第九次临时会议决议公告 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 深圳歌力思服饰股份有限公司（以下简称"公司"）第五届董事会第九次临 时会议于 2025 年 10 月 29 日上午 10:30 在广东省深圳市福田区沙头街道天安社 区泰然四路泰然立城大厦 B 座 12 楼会议室以现场结合通讯表决方式召开。经全 体董事同意，本次会议豁免通知时限要求，本次会议通知以邮件方式向全体董事 发出。本次会议应到董事 8 名，实到 8 名。本次会议由公司董事长夏国新先生主 持，公司高级管理人员列席了会议。本次会议的召集和召开程序符合国家有关法 律、法规及《公司章程》等规定，会议合法有效。 二、董事会会议审议情况 （一）会议审议通过《2025 年第三季度报告》 表决结果：同意 8 票，反对 0 票，弃权 0 票，通过。 公司董事会审计委员 ...

Financial Performance - The company's revenue for Q3 2025 was ¥647,098,693.55, representing a decrease of 8.14% compared to the same period last year[7]. - The total profit for the period was ¥55,891,269.31, with a year-to-date profit of ¥224,086,111.85, showing a significant increase of 123.69% year-on-year[7]. - The net profit attributable to shareholders was ¥28,454,467.81 for Q3, and ¥113,511,341.68 year-to-date, reflecting a substantial increase of 427.34% compared to the previous year[7]. - The basic earnings per share for Q3 was ¥0.08, with a year-to-date figure of ¥0.31, indicating a 416.67% increase year-on-year[8]. - The total operating revenue for the first three quarters of 2025 was CNY 2,018,535,180.34, a decrease of 6.2% compared to CNY 2,152,313,306.81 in the same period of 2024[24]. - Net profit for the first three quarters of 2025 reached CNY 160,648,307.14, an increase of 161.5% compared to CNY 61,391,749.54 in 2024[25]. - Earnings per share for the first three quarters of 2025 were CNY 0.31, compared to CNY 0.06 in the same period of 2024[26]. - The company reported a total comprehensive income of CNY 169,596,376.33 for the first three quarters of 2025, up from CNY 52,999,016.04 in 2024[26]. Asset and Liability Management - Total assets at the end of the reporting period were ¥4,082,177,787.02, a decrease of 1.64% from the end of the previous year[8]. - The equity attributable to shareholders increased by 4.44% to ¥2,603,642,384.42 compared to the end of the previous year[8]. - The company's total current assets as of September 30, 2025, amount to ¥2,131,622,807.92, an increase from ¥2,029,639,505.16 as of December 31, 2024[21]. - Total liabilities decreased to CNY 1,193,721,489.48 in 2025 from CNY 1,419,699,999.25 in 2024, reflecting a reduction of 15.9%[23]. - Total current liabilities decreased to ¥862,620,326.93 from ¥964,365,315.89 year-over-year[22]. - The company has no short-term borrowings as of September 30, 2025, compared to ¥30,000,000.00 as of December 31, 2024[22]. Cash Flow Analysis - The company reported a year-to-date cash flow from operating activities of ¥414,435,481.61, reflecting a 72.75% increase year-on-year[7]. - Cash flow from operating activities for the first three quarters of 2025 was CNY 2,226,230,219.56, slightly down from CNY 2,302,378,169.50 in 2024[28]. - The net cash inflow from operating activities was CNY 414,435,481.61, an increase from CNY 239,911,372.76 in the previous period, reflecting a growth of approximately 73%[29]. - The total cash and cash equivalents at the end of the period amounted to CNY 762,054,087.59, up from CNY 324,590,707.40 at the end of the previous period, representing a significant increase of approximately 134%[30]. Operational Efficiency - The gross profit margin for the overall business was 66.04%, with a slight decrease of 2.59 percentage points compared to the previous year[14]. - The company achieved a 55.73% reduction in financial expenses due to increased exchange gains and decreased interest expenses[12]. - The company plans to continue optimizing low-efficiency stores overseas and enhance operational efficiency through cost reduction initiatives[12]. - The number of retail stores decreased from 613 to 554, with 35 new openings and 59 closures during the reporting period[13]. Market Performance - The company noted that excluding the impact of Ed Hardy, revenue for the first three quarters showed a growth of 2.4%, with domestic market revenue increasing by approximately 8.6%[11]. - The company's major brands in the domestic market achieved growth rates of 4.6%, 16.8%, 12.4%, and 3.1% compared to the same period last year[12]. - Online comparable revenue grew by 15.4%, with online sales accounting for 18.6% of total revenue, an increase of 1.94 percentage points year-on-year[12]. Investment and Income - The company reported a 254.88% increase in investment income due to stable performance from a subsidiary and increased government subsidies[12]. - Investment income for the first three quarters of 2025 was CNY 34,983,557.34, significantly up from CNY 9,857,872.78 in 2024[25]. - Other comprehensive income after tax for the first three quarters of 2025 was CNY 8,948,069.19, compared to a loss of CNY 8,392,733.50 in 2024[26]. - Non-recurring gains and losses for the period included ¥7,894,714.18 from the disposal of non-current assets and ¥2,002,734.50 from government subsidies[9].

Market Overview - The apparel and home textile sector increased by 0.03% compared to the previous trading day, with Luolai Life leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Top Performers - Luolai Life (002293) closed at 9.40, up 5.86% with a trading volume of 356,400 shares and a turnover of 339 million yuan [1] - Shengtai Group (605138) closed at 7.91, up 4.91% with a trading volume of 165,300 shares and a turnover of 132 million yuan [1] - Xinhe Shares (003016) closed at 8.84, up 4.49% with a trading volume of 289,500 shares and a turnover of 254 million yuan [1] Underperformers - ST Erya (600107) closed at 8.77, down 4.98% with a trading volume of 160,200 shares and a turnover of 144 million yuan [2] - Ribo Fashion (603196) closed at 23.12, down 4.93% with a trading volume of 60,300 shares and a turnover of 141 million yuan [2] - Anzheng Fashion (603839) closed at 8.91, down 3.47% with a trading volume of 117,000 shares and a turnover of 106 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 147 million yuan from institutional investors, while retail investors saw a net inflow of 125 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2][3] Individual Stock Capital Flow - Wanlima (300591) had a net inflow of 29.27 million yuan from institutional investors, while it saw a net outflow of 2.39 million yuan from retail investors [3] - Shengtai Group (605138) experienced a net inflow of 15.85 million yuan from institutional investors, but a net outflow of 23.59 million yuan from retail investors [3] - Seven Wolves (002029) had a net inflow of 18.53 million yuan from institutional investors, with a net outflow of 1.03 million yuan from retail investors [3]

Core Insights - The apparel and home textile sector experienced a rise of 1.38% on October 21, with Zhongyin Fashion leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Sector Performance - Zhongyin Fashion (300901) closed at 17.48, with a significant increase of 11.20% and a trading volume of 122,000 shares, resulting in a transaction value of 209 million yuan [1] - Tianchuang Fashion (603608) saw a rise of 9.96%, closing at 8.72 with a trading volume of 292,300 shares [1] - Hason Co., Ltd. (603958) increased by 6.98%, closing at 16.85 with a trading volume of 101,600 shares [1] - Other notable performers include Gelisi (603808) up 5.35%, Langsha Co. (600137) up 5.21%, and Longtou Co. (600630) up 5.00% [1] Capital Flow - The apparel and home textile sector saw a net outflow of 177 million yuan from main funds, while retail investors contributed a net inflow of 260 million yuan [2] - The overall capital flow indicates a mixed sentiment, with institutional investors withdrawing while retail investors increased their positions [2]

Core Viewpoint - Shenzhen is actively promoting the optimization and upgrading of traditional industries, leveraging innovation, digital transformation, and international market expansion to build a modern industrial system [1][2][3][4][5][6][7] Group 1: Achievements in Traditional Industries - Shenzhen's traditional industries have shown significant achievements, with leading brands in high-end women's clothing, jewelry, furniture, and eyewear, contributing to a robust industrial foundation [2] - The jewelry industry maintains the highest industrial output value in China, with annual gold delivery volume accounting for approximately 70% of the Shanghai Gold Exchange [2] - The furniture sector is recognized as a key research, design, production, and export base, while the eyewear industry accounts for about half of global production [2] Group 2: Innovation and Digital Transformation - The upgrade of traditional industries in Shenzhen is closely tied to innovation, particularly through the integration of AI and digital technologies [3] - Shenzhen plans to implement AI across various sectors, including home appliances and toys, establishing a comprehensive technological foundation [3] - Aiming to support over 100 traditional enterprises in digital transformation within three years, Shenzhen is focusing on building industrial internet platforms and solution providers [3] Group 3: Brand and Quality Enhancement - Shenzhen is committed to enhancing product value through brand development and quality improvement, with initiatives to create over 100 cross-industry fashionable and trendy products by 2027 [4] - The city will promote the establishment of advanced group standards in key areas like smart home and eyewear, aiming to elevate industry standards [4] Group 4: International Market Expansion - Shenzhen is focused on enhancing the global presence of "Shenzhen design" and "Shenzhen manufacturing" through various support measures for internationalization [5][6] - The city provides one-stop services for enterprises to expand internationally, including participation in nearly 300 overseas trade fairs annually [6] Group 5: Ecosystem and Support Mechanisms - To ensure the implementation of initiatives, Shenzhen is establishing a traditional industry working group to coordinate development and provide unified services [7] - Local districts are fostering collaboration between industries and educational institutions, enhancing talent retention and cultural product richness [7]

Core Viewpoint - The company has demonstrated significant recovery in profitability, with a 45.27% year-on-year increase in net profit to 85.05 million yuan in the first half of 2025, driven by a multi-brand strategy and enhanced operational management [1] Group 1: Financial Performance - The company's net profit attributable to shareholders increased by 45.27% to 85.05 million yuan in the first half of 2025 [1] - The combined sales and management expense ratio decreased by 2.1 percentage points, reflecting effective cost control and process optimization [1] Group 2: Operational Strategy - The company is focusing on cost reduction in 2025, emphasizing process optimization and strict budget control across brands [1] - Marketing strategies have been refined to enhance efficiency and quality, with a focus on aligning product effectiveness with marketing efforts [1] Group 3: AI Integration - The company is actively integrating AI technology across its operations, from design to supply chain management, significantly improving design efficiency and precision [1] - AI tools are being utilized for sales diagnostics and analysis, leveraging big data to support store performance [1] Group 4: Brand and Market Strategy - The company is enhancing brand strength and store upgrades while focusing on member experience and brand value [2] - The multi-brand and multi-platform strategy aims to uncover growth potential across different brands, leading to rapid online growth [2] Group 5: International Business Adjustments - The company is strategically closing underperforming stores in its French IRO brand while maintaining strict budget controls, leading to gradual profit improvement [2] - Future adjustments will focus on retaining profitable stores and increasing investment in brand and product design to support the IRO brand's recovery [2] Group 6: Future Outlook - The company anticipates significant growth potential, focusing on high-end markets to meet diverse consumer demands amid a K-shaped consumption trend [2] - The company's refined operational management and understanding of the high-end market position it well for sustained high-quality growth in future market competition [2]

Core Points - The company has elected Ms. Wang Wei as the employee representative director of the fifth board of directors [1] - Ms. Wang was previously a non-employee representative director and meets the qualifications required by relevant laws and regulations [1] - The election of the employee representative director does not exceed the limit of employee representatives on the board, complying with legal and regulatory requirements [1] Summary of Ms. Wang Wei's Background - Ms. Wang Wei, born in 1980, holds a master's degree in finance from Lancaster University and dual bachelor's degrees in international finance and accounting from Jinan University [2] - She has held significant positions including managing director at Xiamen Qishang Equity Investment Co., Ltd. and general manager at China Merchants ZhiYuan Capital Investment Co., Ltd. [2] - Ms. Wang has been recognized as one of the top analysts in the textile and apparel industry, receiving multiple awards including the New Fortune Best Analyst and the Crystal Ball Award [2]

Core Viewpoint - The company announced the election of Ms. Wang Wei as the employee representative director of the fifth board of directors during a recent employee representative meeting [1] Group 1 - The company held an employee representative meeting [1] - Ms. Wang Wei was elected as the employee representative director [1]