Core Viewpoint - The company, Guangdong Haotaitai Technology Group Co., Ltd., has announced the use of idle self-owned funds to purchase financial products, aiming to enhance asset value and improve fund utilization efficiency [1][3]. Group 1: Overview of the Financial Management - The purpose of the entrusted financial management is to prevent risks and ensure asset appreciation while not affecting the company's normal operations [3]. - The total amount for the financial products purchased is RMB 100 million [4]. - The funds used for this investment are derived from idle self-owned funds generated from the company's operating activities [5]. Group 2: Details of the Financial Products - The financial products include "Juying Gold - Linked to Gold Au9999 Bullish Three-Element Structured Deposit" and "Juying Exchange Rate - Linked to Euro to US Dollar Bullish Two-Element Structured Deposit" [2]. - The investment period for the gold-linked product is from July 28, 2025, to October 28, 2025, while the euro-linked product's investment period is from July 28, 2025, to October 31, 2025 [6]. Group 3: Approval Process - The financial management proposal was approved in the 20th meeting of the third board of directors and the 20th meeting of the third supervisory board, as well as at the 2024 annual shareholders' meeting [8]. Group 4: Risk Analysis and Control Measures - The financial products purchased are categorized as high safety and liquidity, with medium to low risk, but may still face market, liquidity, and credit risks [9]. - The company management adheres to prudent investment principles, selecting reputable and capable institutions for issuing the products [10]. - Independent directors and the audit committee have the authority to supervise and inspect the use of funds, and the company will fulfill its information disclosure obligations in a timely manner [11]. Group 5: Impact on the Company - The company aims to enhance the efficiency of idle self-owned funds and generate investment returns without affecting its main business operations [12]. - The company will conduct accounting treatment for cash management in accordance with relevant accounting standards [13].

证券代码：603848 证券简称：好太太 公告编号：2025-040 广东好太太科技集团股份有限公司 关于使用部分闲置自有资金购买理财产品的公告 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。 重要内容提示： 一、委托理财情况概述 （一）委托理财目的 公司坚持规范运作，防范风险，为实现资产的保值增值，确保不影响公司正 常运营的前提下，使用闲置自有资金购买理财产品，有利于盘活闲置资金，提高 资金使用效率，降低财务成本，增加投资收益，为公司及股东谋取更多的投资回 报。 （二）委托理财金额 （四）委托理财基本情况 委托理财受托方：中国民生银行股份有限公司 本次委托理财金额：10,000.00 万元 委托理财产品名称：聚赢黄金-挂钩黄金 Au9999 看涨三元结构性存款 （SDGA252243V）；聚赢汇率-挂钩欧元对美元汇率看涨二元结构性存款 （SDGA252236V） 履行的审议程序：广东好太太科技集团股份有限公司（以下简称"公司"）第三 届董事会第二十次会议、第三届监事会第二十次会议及 2024 年年度股东大会 分别审议通 ...

Investment Rating - The report maintains a positive outlook on the light industry and paper-making sector for the mid-2025 earnings forecast, indicating a favorable investment rating for these industries [1]. Core Insights - The report highlights a divergence in performance within the export sector for Q2 2025, with companies that have a global supply chain showing resilience against external tariff disruptions. Notable performers include Jiangxin Home, Jiayi Co., and Tianzhen Co. [4][5]. - The two-wheeler segment is expected to benefit from government subsidies and new standards, with companies like Yadi Holdings and Aima Technology showing strong growth potential [4]. - The light consumer goods sector is characterized by a robust domestic demand, particularly in personal care products, with companies like Baiya Co. and Dengkang Oral Care expected to perform well [4]. - The packaging industry is undergoing consolidation, with leading companies experiencing a slowdown in capital expenditure, indicating a shift towards a harvest phase [4]. - The home furnishing sector is facing short-term order impacts due to the pause in government subsidies, but long-term growth is anticipated through market integration and new product categories [4]. - The paper-making sector is expected to see stable profitability due to low raw material costs and improved supply-demand dynamics [4]. Summary by Sections Export Sector - Q2 2025 shows performance divergence due to increased external disruptions, with companies like Jiangxin Home expected to see a 40%+ growth in net profit [5][6]. - Jiayi Co. anticipates a 30%+ revenue increase, while Tianzhen Co. is expected to recover orders significantly [4][5]. Two-Wheeler Sector - Companies like Aima Technology and Ninebot are projected to grow by 20% and 50% respectively in Q2 2025, driven by new product launches and market demand [8][9]. Light Consumer Goods - The sector is expected to show resilience, with companies like Chaohongji and Baiya Co. projected to grow by 20% and 2% respectively in revenue [10][11]. Packaging Industry - The report notes a continued consolidation trend, with companies like Yutong Technology and Baosteel Packaging expected to maintain stable revenue growth [12][14]. Home Furnishing Sector - The sector is facing challenges due to subsidy pauses, but companies like Mousse and Zhizhong Home are expected to adapt and show growth in the long term [13][15]. Paper-Making Sector - The report indicates stable profitability for the paper-making sector, with companies like Sun Paper and Huawang Technology expected to benefit from improved market conditions [17].

证券代码：603848 证券简称：好太太 公告编号：2025-039 广东好太太科技集团股份有限公司 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个别及连带责任。 一、基本情况 广东好太太科技集团股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召 开了公司第三届董事会第二十次会议，于 2025 年 5 月 16 日召开了公司 2024 年年 度股东大会，审议通过了《关于变更公司注册资本并修订<公司章程>的议案》。具 体内容详见公司于 2025 年 4 月 26 日披露在上海证券交易所网站（www.sse.com.cn） 上的《广东好太太科技集团股份有限公司关于变更公司注册资本并修订<公司章 程>的公告》（公告编号：2025-020）。 除上述信息变更登记外，《营业执照》其他登记项目未发生变更，《营业执照》 其他信息如下： 1、名称：广东好太太科技集团股份有限公司 2、统一社会信用代码：91440101770197284B 3、类型：股份有限公司（上市、自然人投资或控股） 4、 ...

Group 1: Stablecoin Regulation in Hong Kong - Hong Kong plans to issue limited stablecoin licenses by the end of 2025, with the initial number expected to be in the "single digits" [1] - The regulatory sandbox initially focused on stablecoins pegged to the Hong Kong dollar, but there is growing interest in offshore stablecoins pegged to the Chinese yuan, driven by major tech companies like JD.com and Ant Group [1] - The Hong Kong Monetary Authority (HKMA) has established new regulations requiring stablecoin issuers to maintain sufficient asset reserves and segregate customer assets [1] - The new stablecoin policy in Hong Kong sets a global benchmark through full reserve backing, strict redemption guarantees, and oversight by the HKMA, reinforcing its status as a regulated digital finance hub [1] Group 2: Tariff Impact on Supply Chains - The U.S. has reduced tariffs on Vietnam from 46% to 20%, although this remains significantly higher than historical levels [2] - Tariff options are still not fully eliminated for key industries such as pharmaceuticals, automotive, and semiconductors, affecting various Asian economies reliant on exports [2] - China is shifting its policy focus towards stimulating domestic demand through reforms and regulatory adjustments, rather than large-scale interventions [2] Group 3: Home Furnishing Sector Valuation - The home furnishing sector's price-to-earnings (PE) ratio is at 22.39, which is at the 34.82% percentile of the past five years, indicating significant room for valuation recovery [3] - Major home furnishing companies like Sophia and Oppein are at historical low valuations, with potential for upward valuation adjustments and high safety margins [3] - The market share of leading custom home furnishing companies is expected to increase due to the inability of white-label brands to participate in subsidies, with companies like Oppein and Sophia showing substantial growth potential [3] - The rise in smart home penetration, driven by technology and policy incentives, is expected to promote industry growth, with companies like Mousse, Haotaitai, and Qushui Technology showing potential [3] Group 4: Electric Vehicle Industry Insights - Despite claims of "zero emissions," the production and recycling of batteries for electric vehicles pose significant environmental challenges, highlighting battery pollution as a future concern [4] - The competition between traditional automotive companies and emerging electric vehicle firms is not on the same track, as their goals and rules differ, making the notion of "overtaking" misleading [4] Group 5: Power Outage in Europe - A large-scale power outage occurred in the Czech Republic on July 4, 2025, lasting approximately nine hours, revealing structural vulnerabilities in modern power systems [5] - The outage led to severe consequences, including the paralysis of railway systems, subway operations, public transport, and communication networks [5] - Increasing extreme weather events add pressure to power systems, particularly affecting transmission lines and increasing grid vulnerability [5] - Historical power outages have demonstrated the risks of single faults leading to widespread system failures, emphasizing the need for upgrades and better monitoring systems in core transmission channels [5]

Core Viewpoint - The company has adjusted its cash dividend distribution for the fiscal year 2024 due to a reduction in total share capital following the completion of a stock repurchase and cancellation related to an employee stock incentive plan [1][2]. Summary by Sections Adjustment of Cash Dividend Total - The total cash dividend amount has been adjusted due to a decrease in the company's total share capital by 1,505,000 shares, resulting from the completion of the stock repurchase on June 24, 2025 [1][2]. Previous Profit Distribution Plan - The initial profit distribution plan proposed a cash dividend of 2.0 yuan (including tax) per 10 shares, based on a total share capital of 403,911,511 shares, leading to a total cash dividend of 80,782,302.20 yuan (including tax) [1][2]. Revised Profit Distribution Plan - Following the reduction in total share capital to 402,406,511 shares, the company will maintain the per-share distribution ratio, adjusting the total cash dividend to 80,481,302.20 yuan (including tax), which represents 32.39% of the net profit attributable to shareholders in the consolidated financial statements [2].

Core Points - The company announced a cash dividend of 0.2 yuan per share for A shares, totaling approximately 80.48 million yuan to be distributed to shareholders [1] - The dividend distribution plan was approved at the annual shareholders' meeting held on May 16, 2025 [1] - Key dates for the dividend distribution include the record date on July 7, 2025, and the ex-dividend date on July 8, 2025 [1] Dividend Distribution Details - The total number of shares for the dividend calculation is 402,406,511 shares [1] - Cash dividends will be distributed through China Securities Depository and Clearing Corporation Limited, Shanghai Branch [1] - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [1] Taxation Information - Individual shareholders holding shares for over one year are exempt from personal income tax on dividends, while those holding for one month or less face a 20% tax [2][3] - Qualified Foreign Institutional Investors (QFIIs) will have a 10% withholding tax applied, resulting in a net dividend of 0.18 yuan per share [3][5] - Other institutional investors and corporate shareholders are responsible for their own tax obligations, with a gross dividend of 0.20 yuan per share [5]

广东好太太科技集团股份有限公司 关于调整 2024 年度利润分配现金分红总额的公告 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。 证券代码：603848 证券简称：好太太 公告编号：2025-037 鉴于上述回购股份注销导致公司总股本发生变化，公司将按照每股分配比例 不变的原则，以本公告披露日公司总股本 402,406,511 股为基数，向全体股东每 股派发现金红利 0.2 元（含税），合计派发现金红利总额调整为 80,481,302.20 元（含税），占当期合并报表中归属于上市公司股东净利润的 32.39%。具体以 权益分派实施结果为准。 特此公告。 广东好太太科技集团股份有限公司董事会 重要内容提示： 如在利润分配方案披露之日起至实施权益分配股权登记日期间，因股权激励 授予股份回购注销等致使公司总股本发生变动的，公司拟维持每股分配比例不变， 相应调整分配总额。具体情况详见公司于 2025 年 4 月 26 日披露的《广东好太太 科技集团股份有限公司关于 2024 年度利润分配方案的公告》（公告编号： 2025-012）。 ...

证券代码：603848 证券简称：好太太 公告编号：2025-038 广东好太太科技集团股份有限公司 2024年年度权益分派实施公告 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： 每股分配比例 A 股每股现金红利0.2元 2.分派对象： 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/7 | － | 2025/7/8 | 2025/7/8 | 差异化分红送转：否 一、通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 16 日的2024年年度股东会审议通过。 二、分配方案 1.发放年度：2024年年度 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： 本次利润分配以方案实施前的公司总股本402,406,511股为基数，每股派发现 金红利0 ...

Summary of Key Points Core Viewpoint - The announcement details the completion of the repurchase and cancellation of 1,505,000 restricted shares under the company's 2023 incentive plan, resulting in a decrease in total share capital and an increase in the controlling shareholder's ownership percentage. Group 1: Share Capital Changes - The total share capital of the company decreased from 403,911,511 shares to 402,406,511 shares following the cancellation of 1,505,000 restricted shares [1] - The breakdown of share types before and after the change is as follows: - Restricted shares before: 1,505,000; after: 0 - Unrestricted shares before: 402,406,511; after: 402,406,511 [1] Group 2: Changes in Controlling Shareholder's Ownership - The controlling shareholder, Mr. Shen Hanbiao, maintained the number of shares held at 217,395,000, but due to the reduction in total share capital, his ownership percentage increased from 53.8224% to 54.0237% [1] - This change in ownership percentage is significant as it touches the 1% threshold, indicating a potential shift in control dynamics [1] Group 3: Additional Notes - The announcement emphasizes that the changes in share capital and ownership structure may have significant implications for the company's governance and ongoing operations [1]