● 董事、高级管理人员持股的基本情况 本次减持计划公告披露前，广东好太太科技集团股份有限公司（以下简称"公司"）董事兼高管肖娟女士 直接持有公司股份700,000股，占公司总股本的比例为0.1733%；高管周亮先生直接持有公司股份 400,000股，占公司总股本的比例为0.0990%。 ● 减持计划的实施结果情况 近日，公司收到肖娟女士、周亮先生出具的《关于减持公司股份实施结果的告知函》。在减持股份计划 实施期间，肖娟女士通过集中竞价交易方式累计减持公司股份40,000股，占公司目前总股本的 0.0099%；周亮先生未减持。 一、减持主体减持前基本情况 本公司董事会、全体董事及相关股东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： (四)实际减持是否未达到减持计划最低减持数量（比例） □未达到 √已达到 ■ 注：上述肖娟和周亮的"其他方式取得"系通过公司限制性股票激励计划取得。周亮因公司回购注销限制 性股票激励计划部分限制性股票，持股数量减少了11,570股。 上述减持主体无一致行动人。 二、减持计划的实施结果 (一)大股东及董监高 ...

Group 1 - Vanke A received a loan of 1.552 billion yuan from its largest shareholder, Shenzhen Metro Group, to repay the principal and interest of publicly issued bonds, with a loan term of 36 months and an annual interest rate of 2.34%, lower than the 1-year LPR [2] - Chengfei Integration announced that its stock has been on a six-day trading limit, confirming that there are no undisclosed significant matters affecting the company [3] - Dongpeng Beverage's shareholder, Kunpeng Investment, reduced its shareholding from 6.44% to 5.43%, a decrease of 1.01 percentage points, through trading activities [4] Group 2 - Baofeng Energy plans to repurchase shares worth between 1 billion and 2 billion yuan, with a maximum repurchase price of 22.80 yuan per share [7] - Huakayi Yibai announced that shareholders plan to reduce their holdings by up to 3% of the company's total shares [6] - China Pacific Insurance reported a 10.4% year-on-year increase in original insurance premium income for its life insurance subsidiary, totaling 115.359 billion yuan [22]

证券代码：603848 证券简称：好太太 公告编号：2025-023 广东好太太科技集团股份有限公司 部分董事、高级管理人员减持股份结果公告 本公司董事会、全体董事及相关股东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： 董事、高级管理人员持股的基本情况 本次减持计划公告披露前，广东好太太科技集团股份有限公司（以下简称 "公司"）董事兼高管肖娟女士直接持有公司股份 700,000 股，占公司总股本的 比例为 0.1733%；高管周亮先生直接持有公司股份 400,000 股，占公司总股本的 比例为 0.0990%。 减持计划的实施结果情况 近日，公司收到肖娟女士、周亮先生出具的《关于减持公司股份实施结果的 告知函》。在减持股份计划实施期间，肖娟女士通过集中竞价交易方式累计减持 公司股份 40,000 股，占公司目前总股本的 0.0099%；周亮先生未减持。 股东名称 周亮 股东身份 控股股东、实控人及一致行动人 □是 □否 直接持股 5%以上股东 □是 □否 上述减持主体无一致行动人。 二、减持计划的实施结果 (一)大股东及董监高因以 ...

Core Viewpoint - The company is preparing for its 2024 annual shareholders' meeting, focusing on maintaining shareholder rights and ensuring efficient proceedings through a combination of on-site and online voting methods [2][3]. Group 1: Meeting Procedures - The shareholders' meeting will be held on May 16, 2025, at 14:00 in Guangzhou, with both on-site and online voting options available [1][2]. - The agenda includes the announcement of the meeting rules, the election of representatives for vote counting, and the reading and voting on various proposals [1][3]. Group 2: Proposals for Voting - Key proposals for the meeting include the 2024 annual work reports from the board and supervisory committee, the annual financial report, and the profit distribution plan for 2024 [3][4]. - Additional proposals involve the application for comprehensive credit limits for 2025, guarantees for subsidiaries, and adjustments to the company's registered capital and articles of association [3][4][5]. Group 3: Company Performance Overview - In 2024, the company experienced a 7.78% decline in overall operating performance, with a net profit attributable to shareholders of approximately 248.49 million yuan, a decrease of 24.07% compared to the previous year [5][6]. - The company has focused on brand refinement, channel expansion, and product innovation to stabilize its performance amid industry challenges [5][6][7]. Group 4: Strategic Focus for 2025 - The company aims to enhance project management, solidify its brand leadership, and improve channel management efficiency while exploring new channels [18][19]. - Emphasis will be placed on product innovation and operational efficiency improvements to adapt to external challenges and achieve growth targets [18][19].

股票简称：好太太 股票代码：603848 广东好太太科技集团股份有限公司 2024 年年度股东大会会议资料 二〇二五年五月十六日 地点：广州 广东好太太科技集团股份有限公司 2024 年年度股东大会会议资料 | | | | 广东好太太科技集团股份有限公司 | 2024 年年度股东大会会议议程 2 | | --- | --- | | 广东好太太科技集团股份有限公司 | 2024 年年度股东大会会议须知 3 | | 广东好太太科技集团股份有限公司 | 2024 年年度股东大会表决办法 4 | | 广东好太太科技集团股份有限公司 | 2024 年年度股东大会审议议案 6 | | 议案一 公司董事会 2024 | 年度工作报告 6 | | 公司独立董事 2024 | 年度述职报告（黄建水） 16 | | 公司独立董事 2024 | 年度述职报告（孙振萍） 23 | | 议案二 公司监事会 2024 | 年度工作报告 30 | | 议案三 公司 2024 | 年年度报告全文及其摘要 35 | | 议案四 公司 2024 年度财务决算报告 | 36 | | 议案五 关于公司 2024 | 年度利润分配方案的议案 42 | ...

公司报告 | 年报点评报告 好太太（603848） 证券研究报告 以旧换新带动更新需求增长 公司发布年报以及一季报 以旧换新政策有望进一步刺激需求 线下渠道继续深耕传统经销商渠道，持续推进"开疆焕新"行动，分城分区 精准招商，通过高管帮扶、多轮培训等方式赋能终端零售，充分把握以旧 换新政策机会抢占市场，提升助力头部市场破局。 25Q1 公司营收 2.6 亿，同减 11%，归母净利 0.3 亿，同减 40%，扣非后归 母净利 0.3 亿，同减 43%； 24A 营收 16 亿，同减 8%，归母净利 2.5 亿，同减 24%，扣非后归母净利 2.4 亿，同减 24%。 24 年线上模式收入 10 亿，同减 2%，毛利率 51%同减 3pct。线下模式收入 5.3 亿，同减 21%，毛利率 45%，同减 2pct。 24 年公司销售同减 9.51%，受全球经济增长放缓、国内消费需求疲软影响， 家居行业承压，消费者购买力及装修需求延迟释放。智能家居赛道竞争白 热化，部分企业通过价格战抢占市场，导致公司产品毛利率承压。 智能家居产品营收同减 7.39%，传统晾衣架产品营收同减 18.87%。公司通 过全域整合思路，加速 ...

Investment Rating - The investment rating for the company is "Buy-A" with a target price of 16.87 CNY, maintaining the rating [4][9]. Core Views - The company has experienced a decline in revenue and net profit in 2024, with a revenue of 1.557 billion CNY, down 7.78% year-on-year, and a net profit of 248 million CNY, down 24.07% year-on-year [2][9]. - Despite the overall market challenges, the company’s smart clothes drying rack sales have seen a year-on-year increase of 19.42% in 2024, driven by new product iterations and effective marketing strategies [3][9]. - The company is expected to benefit from the gradual implementation of national subsidies, which may stimulate demand in the second quarter of 2025 [3][9]. Financial Performance Summary - In 2024, the company's gross margin was 47.98%, a decrease of 3.37 percentage points year-on-year, with a significant drop in Q4 to 37.58% [4][8]. - The net profit margin for 2024 was 15.94%, down 3.42 percentage points year-on-year, with Q4 showing a net profit margin of 11.88% [8][9]. - The company’s revenue projections for 2025-2027 are 1.719 billion CNY, 1.921 billion CNY, and 2.156 billion CNY, respectively, with expected growth rates of 10.41%, 11.75%, and 12.25% [9][10]. Market Position and Strategy - The company is positioning itself as a leader in the smart home sector, focusing on enhancing its product offerings and expanding its online sales channels [3][9]. - The company is implementing a strategy to reduce reliance on traditional distribution models by transitioning to a direct sales approach [3][9]. - The ongoing development of a provincial operation platform and optimization of engineering channel structures are expected to support stable growth [9][10].

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The company reported a revenue of 15.57 billion yuan in 2024, a year-on-year decrease of 7.78%, and a net profit attributable to shareholders of 248 million yuan, down 24.07% year-on-year [2] - The company is facing operational pressure due to weak overall industry demand and intensified competition, but performance is expected to gradually improve with national subsidies and increased industry concentration favoring leading companies [2][5] - The company has maintained a leading position in product innovation with over 1,600 patents, and the recent increase in consumer subsidies is anticipated to boost downstream demand [5] Summary by Sections Financial Performance - In 2024, the company's overall revenue declined, with smart home products accounting for 85.24% of total revenue despite a 7.39% year-on-year decrease [3] - The gross margin for 2024 decreased by 3.37 percentage points to 47.98%, primarily due to intensified competition and accounting adjustments [4] - The company plans to distribute a cash dividend of 2 yuan per 10 shares (tax included) [2] Market Position and Strategy - The company is enhancing its online sales channels and optimizing offline channels to cope with market pressures, with a focus on new product iterations [3] - The company has launched several new products, including the GW-129 and GW-118 series, to strengthen its position in the smart drying sector [3] Future Outlook - Revenue forecasts for 2025-2027 are adjusted to 16.35 billion yuan, 18.22 billion yuan, and 20.65 billion yuan respectively, with corresponding EPS estimates of 0.68 yuan, 0.76 yuan, and 0.90 yuan [7] - The company is expected to benefit from the rapid development of the smart home sector and its status as a leading player [7]

2024 年智能家居产品销量增长19.4%，均价下移影响收入。分产品看，2024年智能家居业务收入13.3 亿/-7.4%，销量153.3 万套/+19.4%，毛利率49.6%/-2.9pct；传统晾衣架产品收入1.7 亿/-18.9%，销量60.8 万套/-21.4%，毛利率43.5%/+0.1pct。公司智能产品销量维持增长，收入下滑主要系受到行业价格竞争 与低价位段产品销售占比提升带来的均价下移影响；传统晾衣架市场同质化严重，量价均受到挤压。 风险提示：原材料价格波动，市场竞争加剧风险，房地产市场调控风险。 线上渠道相对稳健，线下收入下滑。2024 年公司线上渠道收入9.9 亿/-2.0%，毛利率50.7%/-2.6pct； 2024 年线下渠道收入5.3 亿/-20.8%，其中南区收入2.6 亿/-30.9%，北区收入2.6 亿/-7.2%，线下毛利率 45.2%/-1.9pct。公司坚持全渠道布局，线上传统电商渠道稳固，并挖掘新兴电商渠道增量，市占率稳居 行业第一；线下继续深耕传统经销商渠道，持续推进"开疆焕新"行动，推动经销商完成抖音流量转化； 工程渠道与头部房地产商、央国企等达成良好合作，兼顾市 ...