Core Viewpoint - The Chinese government has issued an opinion to enhance the sports industry, aiming to cultivate influential sports enterprises and events by 2030, with a target to exceed 7 trillion yuan in total industry scale [1][3]. Group 1: Policy Initiatives - The opinion outlines six key areas with 20 specific measures to promote the upgrade of the sports industry, focusing on expanding the supply of sports products through various initiatives [3]. - It emphasizes the need to enrich sports events, develop outdoor sports, foster the ice and snow economy, and upgrade sports products [3]. - The government plans to support the development of a multi-level event system and promote brand events with independent intellectual property rights [3]. Group 2: Economic Impact - Data from the National Sports Administration indicates that 511 key events held in seven regions in the first half of 2025 generated over 16 billion yuan in related consumption, averaging over 30 million yuan per event [4]. - The sports industry is projected to reach a total output of 31,175 billion yuan in 2024, with a growth rate of 13.9% compared to 2023, significantly outpacing the overall economic growth [6]. Group 3: Consumer Demand - The opinion aims to stimulate sports consumption by expanding consumption scenarios, hosting sports consumption activities, and implementing consumer-friendly measures [5]. - It encourages the organization of events that integrate sports with tourism and cultural activities, particularly during key holidays and fitness promotion periods [5]. - Analysts believe these measures will activate the sports market's internal dynamics and enhance the integration of the sports industry with tourism and culture [5]. Group 4: Beneficiary Companies - Companies involved in outdoor sports product development and production are expected to benefit from the new policies, particularly those focusing on outdoor activities and ice sports [7]. - Zhejiang Natural (605080.SH) is highlighted for its expertise in outdoor products and established partnerships with well-known brands [7]. - Other companies like Muguo Di (603908.SH) and Pathfinder (300005.SZ) are also enhancing their R&D and innovation in outdoor sports products [8]. Group 5: Market Performance - On September 5, the sports industry concept stocks opened significantly higher, with Lisheng Sports hitting the daily limit, and other stocks like Jinling Sports and Honghe Technology also showing substantial gains [8].

Core Points - The company will hold its first extraordinary general meeting of shareholders in 2025 on September 15, 2025, at 13:30 [1] - The meeting will be conducted both in-person and via online voting, with specific time slots for each voting method [1][2] - The agenda includes the signing of attendance, introduction of attendees, reading and deliberation of proposals, and announcement of voting results [1][3] Proposal Summaries - Proposal 1: The company plans to repurchase and cancel 239,012 shares from the terminated 2023 employee stock ownership plan, which will reduce the registered capital accordingly [4][5] - Proposal 2: The company will change its registered capital from 93,366,000 yuan to 93,126,988 yuan due to the share repurchase and will cancel the supervisory board, transferring its responsibilities to the audit committee of the board [5][6] - Proposal 3: The company aims to establish and revise certain corporate governance systems in light of the cancellation of the supervisory board, ensuring compliance with updated laws and regulations [6]

牧高笛户外用品股份有限公司 2025 年第一次临时股东大会 会议资料 二〇二五年九月 牧高笛户外用品股份有限公司 2025 年第一次临时股东大会会议资料 目 录 | 2025 | 年第一次临时股东大会会议议程 | 3 | | --- | --- | --- | | 2025 | 年第一次临时股东大会会议须知 | 5 | | 议案 | 1、关于回购注销 2023 年员工持股计划剩余股份的议案 | 6 | | 议案 | 2、关于变更注册资本、取消监事会并修订《公司章程》的议案 | 7 | | 议案 | 3、关于制定、修订部分公司治理制度的议案 | 8 | 2 牧高笛户外用品股份有限公司 2025 年第一次临时股东大会会议资料 2025 年第一次临时股东大会会议议程 一、现场会议时间：2025 年 9 月 15 日（星期一） 13:30 网络投票时间：2025 年 9 月 15 日（星期一） 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东大会召开当日的 9:15 ...

Core Viewpoint - The company plans to repurchase and cancel the remaining shares of the 2023 employee stock ownership plan, totaling 239,012 shares, following the termination of the plan [1][2]. Group 1: Employee Stock Ownership Plan - The 2023 employee stock ownership plan was approved on August 28, 2023, with a duration of 60 months and stock unlocks occurring at 12, 24, and 36 months, with respective unlock ratios of 30%, 30%, and 40% based on company performance [1]. - The plan has been terminated, leading to the decision to repurchase the remaining shares to protect the interests of the company and its shareholders [2]. Group 2: Share Repurchase and Cancellation - The repurchase of the remaining shares will result in a decrease in the company's registered capital and total shares, with the number of unrestricted shares decreasing from 93,366,000 to 93,126,988 [2]. - The repurchase and cancellation process requires approval from the shareholders' meeting, and the management will be authorized to handle the subsequent procedures [2]. Group 3: Impact on the Company - The share repurchase and cancellation will not materially affect the company's financial status or operational results, nor will it harm the interests of the company and its shareholders [3]. - The company's control and listing status will remain unchanged, and the share distribution will still comply with the requirements for listed companies [3].

牧高笛户外用品股份有限公司 重大信息内部报告制度 牧高笛户外用品股份有限公司 重大信息内部报告制度 （2025 年 8 月修订） 第一章 总则 第一条 为了规范牧高笛户外用品股份有限公司（以下简称"公司"）的重大 信息内部报告工作，保证公司内部重大信息的快速传递、归集和有效管理，保证 公司及时、准确、全面、完整地披露信息，维护投资者的合法权益，根据《中华人民 共和国公司法》《中华人民共和国证券法》《上海证券交易所股票上市规则》《上市公 司信息披露管理办法》《牧高笛户外用品股份有限公司章程》及其他有关法律、法规 和规范性文件的有关规定，结合公司实际情况，制定本制度。 第二条 公司重大信息内部报告制度，是指当出现、发生或即将发生可能对公 司股票的交易价格产生较大影响的情形或事件时，按照本制度规定的负有信息报告 义务的有关人员、部门和公司（以下简称"信息报告义务人"），应在第一时间将相 关信息向公司董事会和董事会秘书报告的制度。 第三条 本制度所称"信息报告义务人"包括： 第四条 本制度适用于公司各部门、分公司、子公司及派驻董事、监事和高级 管理人员的参股子公司。 第二章 重大信息的范围和报告标准 第五条 本制度所 ...

Group 1 - The company, Mugaodi (603908), announced that it will hold its first extraordinary general meeting of shareholders on September 15, 2025 [1] - The agenda for the meeting includes the proposal to repurchase and cancel the remaining shares of the 2023 employee stock ownership plan [1] - Other proposals to be discussed include changes to registered capital, the cancellation of the supervisory board, and amendments to the company's articles of association [1]

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, indicating potential challenges in its business operations and market conditions [1][2]. Financial Performance - The company's revenue for the first half of 2025 was 605 million yuan, a year-on-year decrease of 27.45% [1]. - The net profit attributable to shareholders was 47.21 million yuan, down 40.35% year-on-year [1]. - The basic earnings per share were 0.51 yuan [1]. - The gross profit margin for the first half of 2025 was 31.37%, an increase of 2.69 percentage points year-on-year [2]. - The net profit margin was 7.80%, a decrease of 1.69 percentage points compared to the same period last year [2]. Quarterly Analysis - In Q2 2025, the gross profit margin was 37.05%, up 7.61 percentage points year-on-year and 10.27 percentage points quarter-on-quarter [2]. - The net profit margin for Q2 was 6.09%, down 3.85 percentage points year-on-year and 3.08 percentage points quarter-on-quarter [2]. Expense Analysis - Total operating expenses for the first half of 2025 were 131 million yuan, an increase of 2.46 million yuan year-on-year [2]. - The expense ratio was 21.71%, up 6.25 percentage points from the previous year [2]. - Sales expenses increased by 6.30%, while management expenses decreased by 11.27% [2]. - Research and development expenses rose by 9.08%, and financial expenses surged by 152.05% [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 12,800, a decrease of 1,472 shareholders or 10.29% from the previous quarter [2]. - The average market value per shareholder increased from 171,800 yuan to 180,100 yuan, a growth of 4.86% [2]. Company Overview - The company, Muguo Di Outdoor Products Co., Ltd., is located in Ningbo, Zhejiang Province, and was established on October 31, 2006, with its listing date on March 7, 2017 [3]. - The main business includes proprietary brand operations and OEM/ODM for camping tents, with revenue composition: tents and equipment 89.46%, clothing and shoes 7.23%, accessories and others 3.20%, and other 0.11% [3]. - The company belongs to the textile and apparel industry, specifically in the clothing and home textile sector, and is involved in outdoor camping and e-commerce concepts [3].

关于召开2025年第一次临时股东大会的通知 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：603908 证券简称：牧高笛 公告编号：2025-035 牧高笛户外用品股份有限公司 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 9 月 15 日 至2025 年 9 月 15 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 (六)融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 重要内容提示： 一、 召开会议的基本情况 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 9 月 15 日 13 点 30 分 召开地点：宁波市江东北路 475 号和丰创意广场意庭楼 14 楼公司会议室 股东大会召开日期：2025年9月15日 ...

重要内容提示： 一、监事会会议召开情况 牧高笛户外用品股份有限公司（以下简称"公司"）第七届监事会第四次会议于 2025 年 8 月 28 日上午在浙江牧高笛户外用品有限公司会议室以现场和通讯表决的方 式召开，本次会议的通知已于 2025 年 8 月 18 日通过专人、通讯的方式传达全体监 事。会议应出席监事 3 名，实际出席监事 3 名，公司董事会秘书列席了会议，会议 由公司监事会主席陆燕蓉女士主持。会议的召集、召开和表决程序符合《公司法》 和《公司章程》的有关规定。经与会监事认真审议，通过了以下议案： 二、监事会会议审议情况 （一）审议通过《2025 年半年度报告全文及摘要》 具体内容详见公司 2025 年 8 月 30 日披露于上海证券交易所网站（www.sse.com. cn）及指定媒体的《2025 年半年度报告》及《2025 年半年度报告摘要》。 表决结果：3票同意、0票反对、0票弃权。 证券代码：603908 证券简称：牧高笛 公告编号：2025-030 牧高笛户外用品股份有限公司 第七届监事会第四次会议决议的公告 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， ...

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： 证券代码：603908 证券简称：牧高笛 公告编号：2025-029 牧高笛户外用品股份有限公司 第七届董事会第四次会议决议公告 具体内容详见公司 2025 年 8 月 30 日披露于上海证券交易所网站（www.sse. com.cn）及指定媒体的《关于 2025 年半年度募集资金存放与实际使用情况的专 项报告》（公告编号：2025-031）。 一、董事会会议召开情况 牧高笛户外用品股份有限公司（以下简称"公司"）第七届董事会第四次会 议于2025年8月28日在浙江牧高笛户外用品有限公司会议室以现场结合通讯表决 方式召开，本次会议的通知已于2025年8月18日通过专人、通讯的方式传达全体 董事，会议应出席董事9人，实际出席董事9人，公司高级管理人员列席了本次会 议，会议由董事长陆暾华先生主持。会议的召集、召开和表决程序符合《公司法》、 《公司章程》和《董事会议事规则》的有关规定。经与会董事认真审议，通过了 以下议案： 二、董事会会议审议情况 （一）审议通过《202 ...