Financial Performance - The company achieved a net profit attributable to shareholders of RMB 106,796,937.49 in 2023, a decrease of 24.05% compared to RMB 140,622,935.57 in 2022[5]. - Total revenue for 2023 was RMB 1,455,869,412.68, reflecting a year-on-year increase of 1.40% from RMB 1,435,830,775.55 in 2022[22]. - Basic earnings per share decreased to RMB 1.61 in 2023 from RMB 2.11 in 2022, a decline of 23.7%[23]. - The weighted average return on equity fell to 19.70% in 2023, down 8.27 percentage points from 27.97% in 2022[23]. - The company's total assets decreased by 6.63% to RMB 1,252,160,215.50 at the end of 2023, compared to RMB 1,341,137,932.05 at the end of 2022[22]. - The net profit for 2023 was 107 million RMB, representing a year-on-year decrease of 24.05%[30]. - The gross profit margin for outdoor products was 28.37%, with a year-on-year increase of 0.30 percentage points[61]. Dividend and Share Capital - The company plans to distribute a cash dividend of RMB 12 per 10 shares, totaling RMB 80,028,000.00, which represents 74.93% of the net profit for the year[5]. - The company intends to increase its share capital by 4 shares for every 10 shares held, resulting in a new total of 93,366,000 shares[5]. - The total cash dividend amount for 2023 is projected to be RMB 80,028,000, which is 74.93% of the net profit attributable to ordinary shareholders[151]. - The company implemented a cash dividend policy, distributing a cash dividend of RMB 12 per 10 shares, totaling RMB 79,735,440, which represents 56.70% of the net profit attributable to shareholders in 2022[147]. Revenue Breakdown - The company's proprietary brand business generated revenue of 926 million RMB, up 31.25% year-on-year[30]. - The OEM/ODM business reported revenue of 529 million RMB, down 26.15% year-on-year[30]. - Revenue from the tent and equipment segment was ¥1,334,257,457.12, with a gross margin of 27.86%[62]. - Domestic revenue was ¥938,073,141.66, showing a 24.92% increase year-on-year, while international revenue decreased by 22.95%[62]. - Outdoor products self-branded business revenue increased by 41.63% to ¥657.03 million, representing 63.04% of total revenue, driven by growth in self-branded sales[65]. Operational Efficiency - Cash flow from operating activities increased significantly to RMB 278,639,823.35 in 2023, compared to RMB 1,186,821.20 in 2022[22]. - The net cash flow from operating activities surged to ¥278,639,823.35, a significant increase from ¥1,186,821.20 in the previous year[59]. - The company completed the implementation of the SAP-ERP system, improving operational efficiency and international management capabilities[40]. - The newly established smart assembly and warehousing center has improved storage efficiency while reducing labor and rental costs[41]. Market Expansion and Product Development - The company is actively expanding its online sales channels, including partnerships with platforms like Tmall and JD, while also exploring social e-commerce platforms[51]. - The company launched a new outdoor hiking product line, including the "Cold Mountain" tent, tailored for Chinese terrain and climate[30]. - The company aims to enhance product innovation by focusing on design and technology, ensuring products empower daily life scenarios[104]. - The strategic plan includes building brand momentum around high-altitude climbing and long-distance hiking products, leveraging authentic brand stories[104]. - Future channel development will focus on fine-tuning potential channels and exploring new retail formats to increase user engagement[105]. Risk Management and Governance - The company has established a comprehensive risk management framework to address potential internal management challenges[110]. - The company has implemented a new governance structure to ensure compliance with legal regulations and protect shareholder rights[112]. - The company is focusing on foreign exchange hedging activities to mitigate financial risks[118]. - The company has not faced any rejected proposals during the recent shareholder meetings, indicating strong governance support[118]. Environmental and Social Responsibility - The company invested 634,300 RMB in environmental protection during the reporting period[161]. - The company successfully reduced carbon emissions by 476 tons through measures such as using clean energy and upgrading equipment[164]. - The company achieved 100% green electricity usage through solar power and purchased green electricity, significantly lowering carbon emissions[163]. - Total donations for public welfare projects amounted to 21,200 RMB, benefiting 50 individuals[166]. Employee and Management Structure - The total number of employees in the parent company is 24, while the main subsidiaries employ 2,629, resulting in a total of 2,653 employees[143]. - The company emphasizes employee training and has established a mechanism for training and re-education, focusing on new employee onboarding and management enhancement[145]. - The company has a structured remuneration management system that aligns with the positions held by directors and senior management[133]. - The company has confirmed the appointment of senior management personnel in its recent meetings[141]. Financial Management and Investments - The company reported a total guarantee amount of 136,898,992.52 RMB, which accounts for 24.36% of its net assets[187]. - The company has invested 12,000,000 RMB in bank wealth management products, with an outstanding balance of 7,900,000 RMB[189]. - The cumulative investment of raised funds reached 22,814.53 million RMB, with a utilization progress of 69.04%[196]. - The company has a total of 4,400 million RMB in entrusted financial management products scheduled for termination on September 27, 2024[193].

2024 年第一季度报告 证券代码：603908 证券简称：牧高笛 牧高笛户外用品股份有限公司 2024 年第一季度报告 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 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一)主要会计数据和财务指标 单位：元 币种：人民币 | 项目 | 本报告期 | 本报告期比上年同期增减 | | --- | --- | --- | | | | 变动幅度(%) | | 营业收入 | 356,001,355.91 | 3.75 | | 归属于上市公司股东的净利润 | 31,558,117.02 | 9.28 | | 归属于上市公司股东的扣除非经常 | 29,955,818.61 | 16.87 | | 性损益的净利润 ...

证券代码：603908 证券简称：牧高笛 公告编号：2024-016 牧高笛户外用品股份有限公司 关于2024年第一季度主要经营数据的公告 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。 牧高笛户外用品股份有限公司（以下简称"公司"）根据上海证券交易所《上 市公司行业信息披露指引第十二号-服装》的相关规定，现将公司品牌运营业务 2024年第一季度主要经营数据（未经审计）公告如下： 备注：大牧：牧高笛 MOBI GARDEN，指公司户外露营装备品牌。 小牧：牧高笛鹿标 MOBI GARDEN URBAN，指公司户外鞋服品牌。 二、 报告期主营业务经营情况 报告期内，公司实现主营业务收入 35,586.69 万元，同比增长 3.86%；其中： OEM/ODM 业务实现营业收入 21,500.85 万元，同比增长 14.03%；自主品牌业务 实现营业收入 14,085.84 万元，同比下降 8.58%。品牌业务具体情况如下： （一）报告期内直营店和加盟店的盈利情况 | | | | | 主营业务 | 主营业务 | 毛利率 | | ...

Investment Rating - The report assigns a rating of "Accumulate" to the company, with a target price of 39.68 CNY, down from a previous forecast of 66.65 CNY [1][14]. Core Views - The company is experiencing rapid growth in its proprietary brand, while facing pressure on export orders due to downstream destocking. It is anticipated that as destocking concludes, export business will recover, leading to significant improvement in performance [1][14]. Summary by Sections Investment Recommendations - The EPS forecast for 2023-2025 has been adjusted to 2.01, 2.48, and 2.95 CNY respectively, reflecting a slight decrease compared to previous estimates [1][14]. - The company is expected to maintain a growth rate that is slightly below the industry average PE ratio [1][14]. Financial Performance - Revenue for 2023 is projected at 1,478 million CNY, with a growth forecast to 1,717 million CNY in 2024 [1][14]. - The net profit attributable to shareholders is expected to be 134 million CNY in 2023, increasing to 166 million CNY in 2024 [1][14]. - The company’s operating profit margin is forecasted to be 11.3% in 2023, improving to 12.5% in 2024 [1][14]. Market Position - The company is positioned as a leader in the outdoor camping equipment sector, with a diverse product line that includes tents, sleeping bags, and outdoor apparel [1][14]. - The domestic tourism market is expected to grow, with 1.19 billion domestic trips anticipated in 2024, which may benefit the company's sales [1][14]. Operational Insights - The proprietary brand business has shown a year-on-year growth of 29.3% in the first three quarters of 2023, indicating strong internal sales performance [1][14]. - The ODM/OEM business, however, has faced a decline of 23.3% year-on-year due to high inventory levels among overseas clients [1][14]. Valuation Metrics - The company’s PE ratio is projected to be 16.18 for 2023, decreasing to 13.12 by 2025, indicating a potential undervaluation compared to peers [1][14]. - The dividend yield is expected to increase from 3.7% in 2023 to 6.3% by 2025, reflecting a commitment to returning value to shareholders [1][14].

牧高笛户外用品股份有限公司 关于使用部分暂时闲置募集资金购买理财产品到期赎回的公告 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。 证券代码：603908 证券简称：牧高笛 公告编号：2024-002 牧高笛户外用品股份有限公司董事会 2024 年 4 月 23 日 近日，公司到期赎回上述理财产品，收回本金 4,400 万元，获得理财收益 59.68 万元，与预期收益不存在重大差异。 二、截至本公告日，公司前十二个月使用闲置募集资金理财的情况 单位：万元 | 序号 | 理财产品类型 实际投入金额 | | 实际收回本金 | 实际收 | 尚未收回 | | --- | --- | --- | --- | --- | --- | | | | | | 益 | 本金金额 | | 1 | 银行理财产品 | 6,000 | 6,000 | 178.03 | - | | 2 | 银行理财产品 | 6,000 | 6,000 | 9.60 | - | | 3 | 银行理财产品 | 4,000 | 4,000 | 27.12 | - | | ...

证券代码：603908 证券简称：牧高笛 公告编号：2024-001 牧高笛户外用品股份有限公司 关于使用部分暂时闲置募集资金购买理财产品到期赎回的公告 单位：万元 | 序号 | 理财产品类型 实际投入金额 | | 实际收回本金 | 实际收 | 尚未收回 | | --- | --- | --- | --- | --- | --- | | | | | | 益 | 本金金额 | | 1 | 银行理财产品 | 6,000 | 6,000 | 178.03 | - | | 2 | 银行理财产品 | 3,600 | 3,600 | 55.92 | - | | 3 | 银行理财产品 | 1,800 | 1,800 | 12.21 | - | | 4 | 银行理财产品 | 6,000 | 6,000 | 9.60 | - | | 5 | 银行理财产品 | 4,000 | 4,000 | 27.12 | - | | 6 | 银行理财产品 | 3,500 | 3,500 | 45.31 | - | | 7 | 银行理财产品 | 4,400 | - | - | 4,400 | | / | 合计 | 29,300 | 24,900 ...

证券代码：603908 证券简称：牧高笛 公告编号：2023-056 牧高笛户外用品股份有限公司 关于为子公司提供担保的进展公告 （二）本担保事项履行的内部决策程序 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： 被担保人名称及是否为上市公司关联人：被担保人衢州天野户外用品有限 公司（以下简称"衢州天野"）为牧高笛户外用品股份有限公司（以下简称 "公司"）全资子公司，本次担保不构成关联担保。 本次担保金额及已实际为其提供的担保余额：公司为衢州天野提供人民币 10,000 万元的最高额保证担保。公司已实际为衢州天野向各银行提供的担保 余额为人民币 8,639.51 万元。 本次担保是否有提供反担保：无 对外担保预期的累计数量为：0 特别风险提示：衢州天野资产负债率超过 70%，为公司全资子公司，敬请 投资者注意相关风险。 一、本次担保情况概述 （一）本次担保的基本情况 2023 年 12 月 27 日，公司与中信银行股份有限公司衢州分行（以下简称"中 信银行衢州分行）签署了《最高额保证合同》，就衢州天野与中 ...

证券代码：603908 证券简称：牧高笛 公告编号：2023-055 牧高笛户外用品股份有限公司 股东减持股份结果公告 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： 大股东持股的基本情况 本次减持计划实施前，浙江嘉拓投资管理有限公司（以下简称"浙江嘉拓"） 持有牧高笛户外用品股份有限公司（以下简称"公司"）首次公开发行前发行的股 份 6,669,100 股，占公司总股本的 10.00%，为公司控股股东浙江象山大牧企业管 理咨询有限公司的一致行动人，股份来源为公司首次公开发行前取得的股份。 集中竞价减持计划的实施结果情况 因浙江嘉拓经营投资需要，计划通过集中竞价、大宗交易方式在 6 个月内减 持公司股份共计不超过 2,000,700 股（即不超过公司总股本 3.00%）。具体内容 详见公司在上海证券交易所网站披露的《牧高笛户外用品股份有限公司股东减持 股份计划公告》（公告编号：2023-023）。截止目前，减持期间已届满，浙江嘉 拓未实施减持。 上述减持主体存在一致行动人： 1 3 （二）本次实际减持 ...

Financial Performance - The company's revenue for Q3 2023 was CNY 295,262,445.79, representing a year-over-year increase of 1.61%[5] - The net profit attributable to shareholders for Q3 2023 was CNY 13,012,933.19, a decrease of 23.96% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 12,542,212.12, down 42.26% year-over-year[5] - The basic and diluted earnings per share for Q3 2023 were both CNY 0.20, reflecting a decrease of 23.08% from the previous year[6] - The weighted average return on equity was 2.33%, a decrease of 0.90 percentage points compared to the previous year[6] - Net profit for the first three quarters of 2023 was CNY 110,021,354.27, down 15.6% from CNY 130,279,242.25 in the previous year[22] - Basic and diluted earnings per share for the third quarter were CNY 1.65, compared to CNY 1.95 in the same quarter of 2022[22] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,187,291,465.76, down 11.47% from the end of the previous year[6] - As of September 30, 2023, the total assets amounted to CNY 1,187,291,465.76, a decrease from CNY 1,341,137,932.05 at the end of 2022, reflecting a decline of approximately 11.5%[16] - The equity attributable to shareholders was CNY 564,333,698.46, an increase of 5.67% compared to the end of the previous year[6] - Total current liabilities decreased to CNY 592,148,836.28 from CNY 771,912,371.46, a decline of approximately 23.3%[18] - The company's total liabilities decreased to CNY 622,957,767.30 from CNY 807,090,147.86, reflecting a reduction of about 22.8%[18] - The total liabilities and equity amounted to CNY 1,187,291,465.76, a decrease from CNY 1,341,137,932.05 in the previous year[19] Cash Flow - The cash flow from operating activities for the year-to-date was CNY 244,833,757.88, an increase of 511.84% compared to the same period last year[6] - Cash flow from operating activities generated a net amount of CNY 244,833,757.88, significantly up from CNY 40,016,052.47 in the previous year[26] - Cash inflow from investment activities totaled CNY 314,288,286.00, compared to CNY 171,353,710.86 in the same period of 2022[26] - In Q3 2023, the net cash flow from financing activities was -273,374,218.40 CNY, compared to -57,593,927.11 CNY in Q3 2022, indicating a significant decline[27] - The total cash inflow from financing activities in Q3 2023 was 723,370,122.05 CNY, while cash outflow was 996,744,340.45 CNY, resulting in a net outflow[27] - The company paid 87,184,397.85 CNY in dividends and interest in Q3 2023, compared to 67,056,024.45 CNY in Q3 2022, reflecting an increase of approximately 30%[27] Operational Metrics - Total operating revenue for the first three quarters of 2023 was CNY 1,155,256,067.16, a slight decrease of 0.5% compared to CNY 1,157,879,189.55 in the same period of 2022[20] - Total operating costs increased to CNY 1,010,904,149.94, up 2.6% from CNY 985,514,495.65 year-over-year[20] - The company reported a decrease in research and development expenses to CNY 17,984,702.44, down from CNY 25,802,658.59 year-over-year[20] - Sales expenses increased to CNY 90,371,470.04, up from CNY 60,755,590.87 in the previous year, reflecting a rise of 48.9%[20] Cash and Equivalents - The company's cash and cash equivalents increased to CNY 171,583,533.97 from CNY 132,150,210.29, representing a growth of about 29.8% year-over-year[16] - Cash and cash equivalents at the end of Q3 2023 totaled 150,454,722.73 CNY, down from 221,121,082.47 CNY in Q3 2022[27] - The beginning cash and cash equivalents balance for Q3 2023 was 105,187,138.34 CNY, down from 159,892,209.43 CNY in Q3 2022[27] - The impact of exchange rate changes on cash and cash equivalents was a positive 2,553,923.13 CNY in Q3 2023, compared to 1,340,559.40 CNY in Q3 2022[27] Other Information - The company reported a loss of CNY 1,687,187.72 from fair value changes of financial assets in Q3 2023[10] - The decline in net profit was primarily attributed to a decrease in revenue from OEM/ODM business and foreign exchange impacts[10] - The non-current assets increased to CNY 202,909,276.81 from CNY 169,317,400.50, marking an increase of approximately 19.9%[17] - The total equity remained stable at CNY 564,333,698.46, consistent with the previous period[18] - The company reported a significant reduction in short-term borrowings, decreasing to CNY 227,610,497.73 from CNY 386,919,501.12, a decline of about 41.2%[18] - The company has not disclosed any new product developments or market expansion strategies in the current report[15] - The company received tax refunds of CNY 23,824,839.31, down from CNY 50,993,938.66 in the previous year[26]

牧高笛户外用品股份有限公司 董事会审计委员会工作细则 牧高笛户外用品股份有限公司 董事会审计委员会工作细则 （2023年10月修订） 第一章 总 则 第一条 牧高笛户外用品股份有限公司（以下简称"公司"）为强化董事会 决策功能，实现对公司各项财务收支和各项经营活动的有效监管，做到事前审计， 专业审计，确保董事会对经理层的有效监督，进一步完善公司治理结构，根据《中 华人民共和国公司法》《上市公司治理准则》《上市公司章程指引》《上海证券 交易所上市公司自律监管指引第1号——规范运作》《牧高笛户外用品股份有限 公司章程》（以下简称"《公司章程》"）及其它有关规定，公司特设立董事会 审计委员会，并制定本工作细则。 第二条 董事会审计委员会是董事会设立的专门工作机构，根据公司章程及 董事会议事规则等规定，对公司审计、内控体系等方面监督并提供专业咨询意见。 第二章 机构及人员组成 第三条 审计委员会委员由三名不在公司担任高级管理人员的董事组成，其 中独立董事两名，独立董事中至少有一名为专业会计人士。 第四条 审计委员会委员由董事长、二分之一以上独立董事或者三分之一以 上全体董事提名，并由董事会选举产生。 选举委员的提案获 ...