证券代码：603908 证券简称：牧高笛 公告编号：2025-044 二、募集资金管理情况 为了规范募集资金的管理和使用，保护投资者的利益，本公司已按照《中华人民共和国公司法》、《中 华人民共和国证券法》、中国证监会和上海证券交易所的有关规定要求制定了《牧高笛户外用品股份有 限公司募集资金管理办法》（以下简称《管理办法》），对公司募集资金的存储、使用、管理与监管等 方面作出了明确规定。公司严格按照《管理办法》的规定管理募集资金，募集资金的存储、使用、管理 与监管不存在违反《管理办法》规定的情况。 2017年3月，公司与中信银行股份有限公司衢州分行、浙商银行股份有限公司衢州分行、上海浦东发展 银行股份有限公司衢州支行、中国建设银行股份有限公司衢州分行及国泰君安证券股份有限公司（已与 海通证券股份有限公司合并为国泰海通证券股份有限公司，以下简称"保荐机构"）分别签订了《募集资 金专户存储三方监管协议》，三方监管协议与上海证券交易所《募集资金专户存储三方监管协议（范 本）》不存在重大差异，监管协议的履行不存在问题。 2019年1月，公司与中国建设银行股份有限公司宁波江东支行、保荐机构、子公司浙江牧高笛户外用品 有限 ...

经中国证券监督管理委员会证监许可[2017] 232 号《关于核准牧高笛户外用 品股份有限公司首次公开发行股票的批复》核准，本公司向社会公开发行人民币 普通股（A 股）股票 1,669 万股，发行价格 16.37 元/股，募集资金总额为 273,215,300.00 元，扣除各项发行费用 45,070,000.00 元（不含税），实际募集资 金净额为人民币 228,145,300.00 元。上述募集资金于 2017 年 3 月 1 日全部到位， 已经立信会计师事务所（特殊普通合伙）审验，并出具信会师报字[2017]第 ZF10060 号《验资报告》。上述募集资金存放于募集资金专项账户，实行专户管 理。 二、募集资金管理情况 为了规范募集资金的管理和使用，保护投资者的利益，本公司已按照《中华 人民共和国公司法》、《中华人民共和国证券法》、中国证监会和上海证券交易 所的有关规定要求制定了《牧高笛户外用品股份有限公司募集资金管理办法》（以 下简称《管理办法》），对公司募集资金的存储、使用、管理与监管等方面作出 了明确规定。公司严格按照《管理办法》的规定管理募集资金，募集资金的存储、 使用、管理与监管不存在违反《管理 ...

Core Points - The Yunnan Provincial Department of Industry and Information Technology has announced the public listing of the second batch of Yunnan Consumer Brand Matrix, which will be open for public supervision from November 6 to November 12, 2025 [1][2]. Group 1: Announcement Details - The announcement is based on the notification regarding the application for the 2025 Yunnan Consumer Brand Matrix, which involved enterprise applications and recommendations from various cities [1]. - The public listing will accept feedback and objections during the specified period [1]. Group 2: Selected Brands - A total of 18 brands have been included in the second batch of the Yunnan Consumer Brand Matrix, categorized under different types such as "Enterprise Brand" and "Regional Brand" [2][3]. - Notable brands include Yunnan Ziyao, Xuelan, and Laisil, with categories ranging from "Historical Classics" to "Trendy New" [2][3]. Group 3: Digital Application Cases - The announcement also highlights typical cases of "Digital Three Products" applications, showcasing digital traceability systems in the food sector [4]. - Examples include a full-chain digital food safety traceability system by Kunming Xuelan Dairy and a digital monitoring management model for packaged drinking water by Kunming Zhenming Food [4].

Core Viewpoint - The report highlights a decline in the export value of China's leather, fur, feather, and footwear industries, indicating potential challenges for companies in this sector [1] Industry Summary - In September 2025, the export value of leather, fur, feather, and footwear products reached 14.82 billion yuan, representing a year-on-year decrease of 9% [1] - From January to September 2025, the cumulative export value for these industries was 135.7 billion yuan, showing a year-on-year decline of 4.7% [1] - The report provides a comprehensive analysis of the footwear industry in China from 2026 to 2032, focusing on market trends and future predictions [1] Company Summary - Listed companies mentioned include Wanlima (300591), Zhongyin Fashion (300901), Henghui Security (300952), ST Aokang (603001), Red Dragonfly (603116), ST Qibu (603557), Jiansheng Group (603558), Tianchuang Fashion (603608), Kanglongda (603665), Mugao Di (603908), Harsen Co. (603958), and Yangzhou Jinqiu (603307) [1]

Core Viewpoint - The report indicates a significant institutional ownership in Mukaodi (603908.SH), with a total of 57.96 million shares held by six institutional investors, representing 62.08% of the total share capital, although this marks a decrease of 1.66 percentage points from the previous quarter [1] Institutional Investors - Six institutional investors disclosed their holdings in Mukaodi, collectively owning 57.96 million shares, which is 62.08% of the total share capital [1] - The institutional investors include notable entities such as Ningbo Damu Investment Co., Ltd., Zhejiang Jiatuo Investment Management Co., Ltd., and China Construction Bank Co., Ltd. [1] - The total institutional holding percentage decreased by 1.66 percentage points compared to the previous quarter [1] Public Funds - One public fund, Nuoan Multi-Strategy Mixed A, increased its holdings during this period, with an increase percentage of 0.16% [1] - A total of 36 public funds did not disclose their holdings in this quarter, including funds like Huaxia Xingyang One-Year Holding Mixed and Jianxin Flexible Allocation Mixed A [1]

Group 1 - The company Mugaodi (SH 603908) announced on October 31 that its seventh fifth board meeting was held on October 29, 2025, in Zhejiang, where it reviewed the proposal to conclude fundraising projects and permanently supplement working capital with surplus funds [1] - For the year 2024, Mugaodi's revenue composition is as follows: outdoor products account for 99.89%, while other businesses account for 0.11% [1]

Core Viewpoint - The company reported a significant decline in revenue and net profit for the third quarter of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company's operating revenue for the third quarter was 213 million yuan, representing a year-on-year decrease of 13.20% [1] - The net profit attributable to shareholders of the listed company was -10.56 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -11.83 million yuan [1]

Core Insights - Mugaodi, established in October 2006 and listed on the Shanghai Stock Exchange in March 2017, is a leading domestic outdoor camping equipment company with strong brand influence and product R&D capabilities [1] Business Performance - In Q3 2025, Mugaodi reported revenue of 819 million yuan, ranking 7th among 11 companies in the industry, with the industry leader, Kairun, generating 3.719 billion yuan [2] - The main business composition includes tents and equipment at 1.167 billion yuan (89.46%), clothing and shoes at 94.27 million yuan (7.23%), and accessories at 4.179 million yuan (3.20%) [2] - The net profit for the same period was 36.646 million yuan, placing it 5th in the industry, with Kairun leading at 326 million yuan [2] Financial Ratios - As of Q3 2025, Mugaodi's debt-to-asset ratio was 52.09%, higher than the previous year's 48.87% and above the industry average of 46.89% [3] - The gross profit margin was 30.24%, an increase from 28.59% year-on-year, but still below the industry average of 32.77% [3] Executive Compensation - Chairman and General Manager Lu Tuanhua's compensation increased from 2.5517 million yuan in 2023 to 5.6193 million yuan in 2024, a rise of 3.0676 million yuan [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.30% to 12,300, while the average number of circulating A-shares held per shareholder increased by 4.49% to 7,602.48 [5] - The top ten circulating shareholders include Noan Multi-Strategy Mixed A, which increased its holdings by 149,700 shares [5] Future Outlook - Guotai Junan Securities projects Mugaodi's EPS for 2025-2027 to be 1.20, 1.37, and 1.55 yuan, respectively, with a target price of 28.8 yuan based on a 24x PE ratio [5] - Huachuang Securities anticipates net profits of 93 million, 106 million, and 124 million yuan for the same period, with a target price of 27.1 yuan per share [5]

Group 1 - The core point of the article is that Mugaodi (603908.SH) reported a decline in revenue and a net loss for the third quarter of 2025 [1] Group 2 - The company's operating revenue for the third quarter was 213 million yuan, representing a year-on-year decrease of 13.20% [1] - The net profit attributable to shareholders of the listed company was -10.56 million yuan [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -11.83 million yuan [1]

现将有关情况公告如下： 一、募集资金基本情况 （一）实际募集资金金额、资金到账时间 证券代码：603908 证券简称：牧高笛 公告编号：2025-041 牧高笛户外用品股份有限公司 关于募投项目结项并将节余募集资金永久补充流动资金的公告 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： 经中国证券监督管理委员会证监许可[2017] 232 号《关于核准牧高笛户外用 品股份有限公司首次公开发行股票的批复》核准，本公司向社会公开发行人民币 普通股（A 股）股票 1,669 万股，发行价格 16.37 元/股，募集资金总额为 273,215,300.00 元，扣除各项发行费用 45,070,000.00 元（不含税），实际募集资 金净额为人民币 228,145,300.00 元。上述募集资金于 2017 年 3 月 1 日全部到位， 已经立信会计师事务所（特殊普通合伙）审验，并出具信会师报字[2017]第 ZF10060 号《验资报告》。公司对募集资金采取了专户存储制度。 本次结项的募集资金投资项目名称：牧高笛户外用品 ...