Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [4]. Core Viewpoints - The company has demonstrated competitive advantages in various aspects such as technology research and development, product innovation, manufacturing, quality control, brand building, sales channels, and customer service within the smart home industry [3]. - Despite a decline in revenue and net profit in the first half of 2024, the company is focusing on enhancing brand, channel, and product competitiveness through digital marketing and a comprehensive retail strategy [1][2]. - The company has adjusted its profit forecast for 2024-2026, expecting net profits of 340 million, 370 million, and 420 million yuan respectively, reflecting a cautious outlook due to consumer confidence impacts [3]. Financial Performance Summary - In the first half of 2024, the company reported revenue of 700 million yuan, a decrease of 1% year-on-year, and a net profit of 140 million yuan, down 4% year-on-year [1]. - The gross margin for the first half of 2024 was 54.4%, an increase of 5.2 percentage points year-on-year, while the net profit margin was 20.2%, a decrease of 0.8 percentage points [1]. - The company's online sales accounted for 65% of its main business revenue, while offline sales contributed 35% [1]. Brand and Product Development - The company is advancing brand youthfulness and constructing a structured marketing communication matrix to enhance brand visibility and market recognition [2]. - Increased investment in innovation and R&D has led to breakthroughs in key technology areas, maintaining the competitiveness of its products [2]. Management and Operational Efficiency - The company is enhancing coordination between online and offline operations to achieve a leading market share across all networks [2]. - Implementation of comprehensive cost management and flexible supply chain strategies has improved production efficiency and product quality [1][2].

Financial Performance - The company reported no profit distribution or capital reserve transfer to increase share capital for the first half of 2024[3]. - The financial report for the first half of 2024 is unaudited, ensuring the accuracy and completeness of the financial statements[2]. - The report period covers January 1, 2024, to June 30, 2024, with a comparison to the same period in 2023[7]. - The company's operating revenue for the first half of 2024 was approximately ¥712.51 million, a decrease of 0.86% compared to the same period last year[16]. - Net profit attributable to shareholders was approximately ¥143.55 million, down 4.48% year-over-year[16]. - Basic earnings per share for the first half of 2024 was ¥0.36, a decline of 2.70% compared to the previous year[17]. - The weighted average return on equity decreased by 0.96 percentage points to 6.17%[17]. - The net cash flow from operating activities significantly decreased by 75.24%, amounting to approximately ¥59.78 million[16]. - Operating costs decreased by 11.02% to ¥324.73 million from ¥364.96 million year-on-year, attributed to changes in sales channels and product cost reductions[45]. - Research and development expenses increased by 18.51% to ¥24.49 million, reflecting the company's intensified efforts in new product development[45]. Company Operations - The company focuses on smart home products, particularly in fabric care and smart locks, aiming to enhance consumer experience[19]. - The company has implemented a comprehensive procurement management system to improve efficiency and reduce costs[20]. - The production model has been optimized to respond flexibly to market demands, utilizing automation and real-time data analysis[21]. - The sales strategy emphasizes a multi-channel approach, integrating online and offline channels to enhance customer engagement and brand loyalty[23]. - The company adheres to an independent research and development model, focusing on original design, quality control, brand building, and channel development[24]. - The company promotes open innovation by collaborating with universities and research institutions to accelerate technological advancements[24]. - The company aims to enhance its R&D capabilities by integrating traditional craftsmanship with advanced technologies, ensuring product quality stability[24]. - The company is actively exploring cross-industry collaboration opportunities to expand its business scope and create new growth points[54]. - The company is focusing on digital management tools to improve demand forecasting accuracy and optimize inventory and procurement plans[53]. Market Insights - The smart home market in China is projected to reach a scale of 784.8 billion yuan in 2024, with expectations to exceed 800 billion yuan in 2025[25]. - In 2023, there were 41 investment events in the smart home sector, with disclosed financing amounting to 4.375 billion yuan, indicating strong capital market interest[27]. - The smart drying rack market is expected to exceed 1 million units in sales by 2024, with a market size projected to surpass 20 billion yuan by 2026, reflecting an average growth rate of over 20%[28]. - The retail volume of smart locks in China is forecasted to reach 20.5 million units in 2024, driven by increased demand from the real estate market[29]. - The online retail volume of smart locks in Q1 2024 was 1.496 million units, showing a year-on-year growth of 24.5%[29]. Risk Management - The company has detailed potential risks in the report, urging investors to pay attention to investment risks[4]. - The company faces risks from raw material price fluctuations, which could significantly impact production costs and profitability[52]. - The company has implemented measures such as market monitoring and diversified procurement to mitigate raw material price risks[52]. - The company recognizes the risks associated with the real estate market and is developing a risk assessment mechanism to mitigate impacts on performance[55]. Corporate Governance - The board of directors and senior management have confirmed the authenticity and completeness of the report[2]. - The company has not faced any non-operating fund occupation by controlling shareholders or related parties[7]. - The company has committed to avoid occupying company funds and to reduce and regulate related party transactions, which is being strictly adhered to[64]. - The company has engaged in related party transactions, with expected amounts of RMB 15 million for sales and RMB 15 million for purchases from related parties, representing 0.13% and 0.07% of similar transactions respectively[65]. - The company has no significant litigation or arbitration matters during the reporting period[66]. Environmental Commitment - The company is committed to environmental protection and has implemented measures to reduce carbon emissions, including enhancing resource efficiency and promoting recycling[62]. - The company has achieved ISO 14001:2015 certification for its environmental management system[61]. - The company is focusing on green manufacturing and has implemented waste control procedures to minimize waste emissions[62]. - The company is utilizing renewable energy sources, such as solar power, to reduce reliance on non-renewable energy[63]. - The company has established an 8S management system to promote sustainability and resource conservation[63]. Shareholder Information - The total number of common shareholders reached 10,188 by the end of the reporting period[72]. - The largest shareholder, Shen Hanbiao, holds 217,395,000 shares, representing 53.79% of the total shares[72]. - The second-largest shareholder, Wang Miaoyu, holds 116,165,000 shares, accounting for 28.74%[72]. - The total number of shares decreased from 404,210,000 to 404,150,000 due to the repurchase and cancellation of 60,000 restricted shares[70]. Financial Position - Cash and cash equivalents at the end of the period amounted to ¥367,600,899.58, representing 11.24% of total assets, a decrease of 3.40% compared to the previous year[46]. - Accounts receivable decreased by 9.84% to ¥82,134,016.09, accounting for 2.51% of total assets[46]. - Inventory increased by 22.86% to ¥194,131,486.96, now representing 5.94% of total assets[47]. - The company's total assets increased by 3.51% year-over-year, reaching approximately ¥3.27 billion[16]. - The company reported a total of RMB 134,758,807.91 in other equity instrument investments, unchanged from the previous period[78]. Accounting Policies - The company’s financial statements comply with the requirements of the accounting standards[112]. - The company recognizes revenue when control of the relevant goods is transferred to the customer, which means the customer can dominate the use of the goods and obtain almost all economic benefits[169]. - The company applies expected credit loss model for impairment provisions on financial assets measured at amortized cost and certain debt instruments[134]. - The company recognizes financial liabilities at fair value upon initial recognition, with transaction costs directly expensed for those measured at fair value[131]. - The company evaluates credit risk of financial assets on each balance sheet date, measuring loss provisions based on expected credit losses over 12 months or the entire lifetime of the asset depending on the credit risk stage[135].

重要内容提示： 一、委托理财的情况概况 （一）投资目的 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。 证券代码：603848 证券简称：好太太 公告编号：2024-036 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。 （二）投资金额 本次购买理财产品的总金额为人民币5,000.00万元。 （三）资金来源 本次购买理财产品的资金为公司营业活动产生的闲置自有资金。 | 受托方 | 产品 | | 产品金额 | 浮动收益 | | 收益 | 是否构 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 产品名称 | | 率范围 | 产品期限 | | 成关联 | | 名称 | 类型 | | （万元） | （年化） | | 类型 ...

关于广东好太太科技集团股份有限公司 2023年限制性股票激励计划 回购价格调整及回购注销部分限制性股票相关事项之法律意见书 北京市邦盛(广州)律师事务所 关于 广东好太太科技集团股份有限公司 2023 年限制性股票激励计划 回购价格调整及回购注销部分限制性股票相关事项 之 法律意见书 中国·广州·天河区科韵路中路 9-11 号海景集团(总部大厦) 1903、1905 电话(Tel):+862038331600 传真(Fax):+862038331690 二〇二四年七月 广州市天河区科韵路中路 9-11 号 海景集团(总部大厦) 1903、1905 T: +86 20 3833 1600 www. baclaw. cn 关于广东好太太科技集团股份有限公司 2023年限制性股票激励计划 回购价格调整及回购注销部分限制性股票相关事项之法律意见书 北京市邦盛(广州)律师事务所 关于广东好太太科技集团股份有限公司 2023 年限制性股票激励 计划回购价格调整及回购注销部分限制性股票相关事项之 法律意见书 致:广东好太太科技集团股份有限公司 北京市邦盛(广州)律师事务所(以下简称"本所")接受广东好太太科技 集团股份有限 ...

证券代码：603848 证券简称：好太太 公告编号：2024-035 广东好太太科技集团股份有限公司 关于回购注销部分限制性股票通知债权人的公告 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。 未向公司申报债权，不会影响其债权的有效性，相关债务（义务）将由公司根据 原债权文件的约定继续履行。公司债权人如要求公司清偿债务或提供相应担保的， 应根据《中华人民共和国公司法》等相关法律法规的有关规定向公司提出书面要 求，并随附有关证明文件。 （一）债权申报所需材料：公司债权人可持证明债权债务关系存在的合同、 协议及其他凭证的原件及复印件到公司申报债权。 1、债权人为法人的，需同时携带法人营业执照副本原件及复印件、法定代 表人身份证明文件；委托他人申报的，除上述文件外，还需携带法定代表人授权 委托书和代理人有效身份证的原件及复印件。 2、债权人为自然人的，需同时携带有效身份证的原件及复印件；委托他人 申报的，除上述文件外，还需携带授权委托书和代理人有效身份证件的原件及复 印件。 一、通知债权人原由 广东好太太科技集团股份有限公司（以下简 ...

广东好太太科技集团股份有限公司 章 程 二零二四年七月 目 录 第一章 总则 第二章 经营宗旨和范围 第三章 股份 第一节 股份发行 第二节 股份增减和回购 第三节 股份转让 第四章 股东和股东大会 第一节 股东 第二节 股东大会的一般规定 第三节 股东大会的召集 第四节 股东大会的提案与通知 第五节 股东大会的召开 第六节 股东大会的表决和决议 第五章 董事会 第一节 董事 第二节 董事会 第六章 总经理及其他高级管理人员 第七章 监事会 第一节 监事 第二节 监事会 第八章 财务会计制度、利润分配和审计 第一节 财务会计制度 第二节 内部审计 第三节 会计师事务所的聘任 第九章 通知和通告 第一节 通知 第二节 公告 第十章 合并、分立、增资、减资、解散和清算 第一节 合并、分立、增资和减资 第二节 解散和清算 第十一章 修改章程 第十二章 附则 第一章 总 则 第一条 为维护广东好太太科技集团股份有限公司（以下简称公司）、股东 和债权人的合法权益，规范公司的组织和行为，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》） 和其他有关法律、行政法规的规定，制 ...

证券代码：603848 证券简称：好太太 公告编号：2024-032 广东好太太科技集团股份有限公司 关于调整 2023 年限制性股票激励计划 限制性股票回购价格的公告 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： 限制性股票回购价格：由 7.92 元/股调整为 7.62 元/股 广东好太太科技集团股份有限公司（以下简称"公司"）于 2024 年 7 月 15 日召开的第三届董事会第十四次会议、第三届监事会第十四次会议，审议通过了 《关于调整 2023 年限制性股票激励计划限制性股票回购价格的议案》，同意将 公司 2023 年限制性股票激励计划（以下简称"本次激励计划"）限制性股票回 购价格由 7.92 元/股调整为 7.62 元/股。现将有关事项说明如下： 一、2023 年限制性股票激励计划已履行的决策程序和信息披露情况 （一）2023 年 9 月 26 日，公司召开第三届董事会第七次会议，审议通过了 《关于公司<2023 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司 <2023 年限制性股票激 ...

证券代码：603848 证券简称：好太太 公告编号：2024-031 广东好太太科技集团股份有限公司 第三届监事会第十四次会议决议公告 本公司监事会及全体监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、监事会会议召开情况 广东好太太科技集团股份有限公司（以下简称"公司"）第三届监事会第十 四次会议于 2024 年 7 月 15 日在广州市番禺区化龙镇金阳二路 12 号公司会议室 以现场表决方式召开，会议通知已按相关规定于 2024 年 7 月 11 日以书面及电子 邮件方式送达。本次会议由监事会主席林贤惜女士召集和主持，会议应出席监事 3 人，实际出席监事 3 人。本次会议的召集、召开及表决程序符合《中华人民共 和国公司法》和《公司章程》的有关规定，会议形成的决议合法、有效。 二、监事会会议审议情况 （一）以 3 票同意、0 票反对、0 票弃权，审议通过《关于调整 2023 年限制 性股票激励计划限制性股票回购价格的议案》 监事会认为：鉴于公司 2023 年年度权益分派方案已实施完毕，公司董事会 根据《2023 年限制性股票激励计划（草案） ...

证券代码：603848 证券简称：好太太 公告编号：2024-030 广东好太太科技集团股份有限公司 第三届董事会第十四次会议决议公告 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 广东好太太科技集团股份有限公司（以下简称"公司"）第三届董事会第十 四次会议于 2024 年 7 月 15 日在广州市番禺区化龙镇金阳二路 12 号公司会议室 以现场结合通讯表决方式召开，会议通知已按相关规定于 2024 年 7 月 11 日以书 面及电子邮件方式送达。本次会议由董事长沈汉标先生召集和主持，会议应出席 董事 5 人，实际出席董事 5 人，公司监事、部分高级管理人员列席了本次会议。 本次会议的召集、召开及表决程序符合《中华人民共和国公司法》和《公司章程》 的有关规定，会议形成的决议合法、有效。 具体内容详见公司在上海证券交易所网站（www.sse.com.cn）同日披露的《广 东好太太科技集团股份有限公司关于调整 2023 年限制性股票激励计划限制性股 票回购价格的公告》（公告编号：2024-032）。 （二 ...

证券代码：603848 证券简称：好太太 公告编号：2024-034 广东好太太科技集团股份有限公司 一、公司注册资本变更情况 2024 年 7 月 15 日，公司召开第三届董事会第十四次会议，审议通过了《关 于回购注销 2023 年限制性股票激励计划部分限制性股票的议案》，鉴于公司 2023 年限制性股票激励计划 2 名激励对象离职，不再具备激励对象资格，公司拟对其 已获授但尚未解除限售的共计 11.00 万股限制性股票进行回购注销。本次回购注 销 2023 年限制性股票激励计划部分限制性股票后，公司股份总数将由 40,415 万 股变更为 40,404 万股，注册资本由 40,415 万元变更为 40,404 万元。 二、本次《公司章程》的修订情况 基于上述股份总数和注册资本的拟变更情况，公司拟对《广东好太太科技集 团股份有限公司章程》的部分条款进行修订，具体修订情况如下： | | 修订前 | | 修订后 | | --- | --- | --- | --- | | 第 | 公司注册资本为人民币 40,415 | 第 | 公司注册资本为人民币 40,404 万 | | 六 | 万元。 | 六 | 元。 | ...