Core Viewpoint - Hason Co., Ltd. has experienced revenue growth but continues to face losses, primarily due to challenges in its traditional footwear business while expanding into new sectors like precision metal components and industrial automation [1][3][5]. Group 1: Financial Performance - In the first three quarters, Hason's operating revenue increased, and losses narrowed, attributed to the growth in precision metal components and industrial automation businesses [1]. - The company reported a net profit loss of 96.41 million yuan for 2024, marking five consecutive years of losses [3]. - As of September 30, the company had an undistributed profit loss of 78.67 million yuan, which is one-third of its paid-in capital of 219 million yuan [1][3]. Group 2: Footwear Business Challenges - The footwear segment has seen a decline in revenue and an increase in losses due to market conditions and intensified competition, leading to a reduction in store numbers and sales [3]. - In the first three quarters of 2025, the footwear business generated 490 million yuan in revenue, a year-on-year decrease of 13.13%, accounting for 46.29% of total revenue [3]. - The company has not considered downsizing or divesting the footwear business despite ongoing losses [3]. Group 3: Strategic Initiatives - Hason is optimizing its footwear business by enhancing store operations and improving online sales capabilities, including acquiring minority stakes in e-commerce subsidiaries [4]. - The company is exploring AI applications in retail to enhance customer experience and operational management [4]. - Hason has implemented measures to address inventory issues, including increased promotional efforts and stricter inventory management [4]. Group 4: Diversification Efforts - Hason has expanded into new sectors such as precision metal manufacturing and 3D printing, although these new ventures have yet to become profitable [5][7]. - The company has made strategic acquisitions to enhance its capabilities in precision metal components, targeting applications in consumer electronics and renewable energy [6]. - As of the third quarter of 2025, the new subsidiaries in the renewable energy and 3D printing sectors have not yet achieved profitability [7].

Core Viewpoint - Hason Co., Ltd. has experienced revenue growth but continues to face losses, primarily due to challenges in its traditional footwear business while expanding into new sectors like precision metal components and industrial automation [1][3]. Financial Performance - In the first three quarters, Hason reported a revenue increase, with losses narrowing, attributed to the growth in precision metal components and industrial automation [1]. - The company has recorded a net profit loss for five consecutive years, with a projected loss of 96.41 million yuan for 2024 [3]. - As of September 30, the company had an undistributed profit loss of 78.67 million yuan, which is one-third of its paid-in capital of 219 million yuan [1]. Business Segments - The footwear segment has seen a decline in revenue and an increase in losses, with a 10.82% decrease in offline revenue year-on-year for the first half of 2025 [3]. - In the first three quarters of 2025, the footwear business generated 490 million yuan in revenue, a 13.13% decrease, accounting for 46.29% of total revenue [3]. - The company has not considered downsizing or divesting its footwear business despite ongoing losses [3]. Strategic Initiatives - Hason is optimizing its footwear business by enhancing store operations and improving online sales capabilities, including acquiring minority stakes in e-commerce subsidiaries [4]. - The company is exploring AI applications in retail to enhance customer experience and operational management [4]. - To address inventory issues, Hason plans to increase promotional efforts and strictly manage stock levels [4]. New Business Ventures - Hason has expanded into precision metal manufacturing and 3D printing, although these new ventures have yet to become profitable [5][8]. - The company has made acquisitions to enhance its capabilities in precision metal components, targeting sectors like consumer electronics and renewable energy [6][7]. - As of the third quarter of 2025, the new subsidiaries in renewable energy and 3D printing have not yet achieved profitability [8]. Cash Flow and Financial Health - The net cash flow from operating activities for the first three quarters was 32.46 million yuan, primarily due to improved cash flow from the footwear segment and new precision metal business [6].

Group 1 - The core point of the article is that Hason Co., Ltd. (603958) announced on October 31 that it provided guarantees amounting to 0 million yuan to its controlling shareholder, actual controller, and related parties [1] - The company has no other external guarantees and does not have any overdue guarantees [1]

| 对外担保逾期的累计金额（万元） | 0.00 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 39,800.00 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 56.30 | | | □对外担保总额超过最近一期经审计净资产 | | 100% | □担保金额超过上市公司最近一期经审计净 | | 特别风险提示（如有请勾选） 资产 | 50% | | | □对合并报表外单位担保金额达到或超过最 | | | 近一期经审计净资产 30%的情况下 | | | 对资产负债率超过 70%的单位提供担保 | | 其他风险提示（如有） | | 一、 担保情况概述 （一）担保的基本情况 证券代码：603958 证券简称：哈森股份 公告编号：2025-060 哈森商贸（中国）股份有限公司 关于 2025 年度对外担保进展公告 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： 担保对象及基本情况 | | | 被担保人名称 本次担保金额 | 1,100.00 | ...

哈森股份成立于2006年8月21日，于2016年6月29日在上海证券交易所上市，注册地址和办公地址均位于江 苏省昆山市。该公司是中高端皮鞋领域的企业，在品牌运营、产品设计等方面具备一定优势。 哈森股份主营业务为中高端皮鞋的品牌运营、产品设计、生产和销售，所属申万行业为纺织服饰 - 服装家 纺 - 鞋帽及其他，所属概念板块有小盘、长三角一体化、电子商务核聚变、超导概念、核电。 经营业绩：营收行业第四，净利润第七 2025年三季度，哈森股份营业收入为10.58亿元，在行业11家公司中排名第4，行业第一名开润股份营收 37.19亿元，第二名红蜻蜓营收15.05亿元，行业平均数为11.29亿元，中位数为8.8亿元。当期净利润为 - 577.2万元，行业排名第7，行业第一名开润股份净利润3.26亿元，第二名康隆达净利润1.18亿元，行业平均 数为2164.1万元，中位数为 - 510.68万元。 资产负债率高于同业平均，毛利率高于同业平均 偿债能力方面，2025年三季度哈森股份资产负债率为57.37%，去年同期为14.12%，高于行业平均46.89%， 这可能反映出公司偿债压力有所上升。从盈利能力看，2025年三季度毛 ...

Market Overview - The apparel and home textile sector increased by 0.03% compared to the previous trading day, with Luolai Life leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Top Performers - Luolai Life (002293) closed at 9.40, up 5.86% with a trading volume of 356,400 shares and a turnover of 339 million yuan [1] - Shengtai Group (605138) closed at 7.91, up 4.91% with a trading volume of 165,300 shares and a turnover of 132 million yuan [1] - Xinhe Shares (003016) closed at 8.84, up 4.49% with a trading volume of 289,500 shares and a turnover of 254 million yuan [1] Underperformers - ST Erya (600107) closed at 8.77, down 4.98% with a trading volume of 160,200 shares and a turnover of 144 million yuan [2] - Ribo Fashion (603196) closed at 23.12, down 4.93% with a trading volume of 60,300 shares and a turnover of 141 million yuan [2] - Anzheng Fashion (603839) closed at 8.91, down 3.47% with a trading volume of 117,000 shares and a turnover of 106 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 147 million yuan from institutional investors, while retail investors saw a net inflow of 125 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2][3] Individual Stock Capital Flow - Wanlima (300591) had a net inflow of 29.27 million yuan from institutional investors, while it saw a net outflow of 2.39 million yuan from retail investors [3] - Shengtai Group (605138) experienced a net inflow of 15.85 million yuan from institutional investors, but a net outflow of 23.59 million yuan from retail investors [3] - Seven Wolves (002029) had a net inflow of 18.53 million yuan from institutional investors, with a net outflow of 1.03 million yuan from retail investors [3]

2025年10月28日，哈森股份(603958.SH)发布2025年三季报。 | 序号 | 股东名称 | 持股比例 | | --- | --- | --- | | J | 珍兴国际股份有限公司 | 62.13% | | 2 | 昆山珍实投资咨询有限公司 | 1.37% | | 3 | 香港欣荣投资有限公司 | 0.87% | | 4 肖文刚 | | 0.46% | | ર્ 孙月 | | 0.37% | | ર 曹健 | | 0.32% | | 陈智勇 7 | | 0.25% | | 8 郭珺 | | 0.23% | | 9 王月 | | 0.20% | | 10 | AMAZING NINGBO LIMITED | 0.19% | 公司最新毛利率为36.11%，较上季度毛利率减少2.39个百分点，较去年同期毛利率减少17.30个百分 点。最新ROE为-2.68%。 公司摊薄每股收益为-0.08元。 公司最新总资产周转率为0.57次，较去年同期总资产周转率减少0.04次，同比较去年同期下降5.86%。 最新存货周转率为1.63次。 公司股东户数为1.54万户，前十大股东持股数量为1.46亿股，占总股本比例为6 ...

Core Insights - Hason Co., Ltd. (603958.SH) released its Q3 2025 report on October 28, 2025, indicating that institutional investors hold a total of 142 million shares, accounting for 64.56% of the total share capital [1] Institutional Holdings - A total of four institutional investors disclosed their holdings in Hason Co., Ltd., with a combined holding of 142 million shares, representing 64.56% of the total share capital [1] - The institutional holding percentage decreased by 0.98 percentage points compared to the previous quarter [1] Public Fund Activity - Eight public funds were disclosed in this period, including Xinao New Energy Industry Stock A, Xinao Zhiyuan Three-Year Holding Period Mixed A, Xinao Leading Smart Selection Mixed, Xinao Research Preferred Mixed A, and Xinao Core Technology Mixed [1] Foreign Investment Trends - One foreign fund, Hong Kong Xinrong Investment Co., Ltd., reduced its holdings compared to the previous quarter, showing a slight decline [1] - A new foreign institution, AMAZING NINGBO LIMITED, was disclosed in this period [1]

Group 1 - The company intends to appoint Zhongshen Zhonghuan Certified Public Accountants as its auditor for the fiscal year 2025, replacing the previous auditor, Zhongxinghua Certified Public Accountants [2][3] - The change in auditors is aimed at ensuring the independence and objectivity of the audit work, as Zhongxinghua has provided audit services for several consecutive years [2][17] - The proposal to change the auditor will be submitted for approval at the company's upcoming shareholders' meeting [3][20] Group 2 - Zhongshen Zhonghuan was established in 1987 and is one of the first large accounting firms approved to engage in securities and financial business audits in China [3][4] - The firm has a total revenue of approximately 2.17 billion yuan for 2024, with audit service revenue accounting for about 1.83 billion yuan [7] - Zhongshen Zhonghuan has 216 partners and 1,304 registered accountants, with 723 having signed audit reports for securities services [5][7] Group 3 - The audit fee for the fiscal year 2024 was 1.35 million yuan, with 1.15 million yuan for financial report audits and 200,000 yuan for internal control audits [15] - The audit fee for 2025 will be determined based on various factors, including the company's business scale and the complexity of accounting treatments [15][16] - The previous auditor, Zhongxinghua, issued a standard unqualified opinion on the company's 2024 financial statements and internal controls [17]

Core Viewpoint - The company has announced significant governance changes, including the cancellation of the supervisory board and amendments to its articles of association, aimed at improving its corporate governance structure [10][13]. Financial Data - The third-quarter financial statements have not been audited, and the company has provided key financial data for the reporting period [3][8]. - The report indicates that there were no significant changes in the financial indicators during the reporting period [5]. Non-Recurring Gains and Losses - The company has acknowledged the applicability of non-recurring gains and losses, although specific amounts and details are not provided in the announcement [4]. Shareholder Information - The company plans to hold a board meeting to discuss the acquisition of 100% equity in Suzhou Chenling Optical Co., Ltd. and 45% equity in Suzhou Langkes Precision Hardware Co., Ltd. through a share issuance [6][7]. Governance Changes - The company has decided to abolish the supervisory board and corresponding rules, transferring the supervisory responsibilities to the audit committee of the board [10][11]. - Amendments to the articles of association include the removal of references to the supervisory board and the addition of sections regarding controlling shareholders and independent directors [13][14]. Management System Revisions - The company has initiated the formulation and revision of several management systems, including the management of shares held by directors and senior management, and the decision-making process for significant business and investment [14][15].