Financial Performance - The company's operating revenue for Q1 2024 was CNY 639,711,881.28, representing a year-on-year increase of 1.21%[5] - The net profit attributable to shareholders for Q1 2024 was CNY 85,748,400.75, reflecting a growth of 7.99% compared to the same period last year[5] - The basic earnings per share for Q1 2024 was CNY 0.55, which is an increase of 7.99% year-on-year[5] - Total operating revenue for Q1 2024 was ¥639,711,881.28, a slight increase of 1.06% compared to ¥632,037,996.98 in Q1 2023[19] - Net profit for Q1 2024 was ¥85,748,400.75, up 8.3% from ¥79,406,920.92 in Q1 2023[20] - Basic and diluted earnings per share increased to ¥0.55 in Q1 2024 from ¥0.51 in Q1 2023[21] Cash Flow - The net cash flow from operating activities for Q1 2024 was negative CNY 94,242,746.79, a significant decline of 1,164.35% compared to the previous year[5] - Cash inflow from operating activities totaled ¥503,095,702.54 in Q1 2024, down 36.5% from ¥791,581,060.57 in Q1 2023[22] - The net cash flow from operating activities was -$94,242,746.79, a significant decline compared to $8,854,479.17 in the previous year, indicating a negative trend in operational cash generation[23] - The net cash flow from financing activities was -$88,084,003.45, contrasting with a positive cash flow of $113,210,448.22 in the same quarter last year, highlighting a shift in financing strategy[23] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 4,488,468,670.78, down 3.41% from the end of the previous year[6] - Total liabilities decreased to ¥1,192,207,811.90 in Q1 2024 from ¥1,429,345,877.56 in Q1 2023, reflecting a reduction of 16.6%[19] - Total current assets amounted to RMB 2,623,089,193.52, a decrease of 5.2% from RMB 2,767,989,131.47 on December 31, 2023[14] - Total non-current assets were reported at RMB 1,865,379,477.26, a slight decrease from RMB 1,878,755,217.01[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 18,746[12] - The equity attributable to shareholders increased to CNY 3,296,260,858.88, marking a 2.45% rise from the previous year-end[6] Expenses - Sales expenses rose by 80.40%, attributed to increased product promotion efforts[10] - Research and development expenses were ¥22,190,135.54 in Q1 2024, slightly down from ¥23,233,494.96 in Q1 2023[19] - Cash paid to employees increased to $69,113,645.50 from $65,427,702.95, indicating rising labor costs[23] - Cash paid for taxes rose to $28,324,142.56 from $24,425,377.97, reflecting higher tax obligations[23] Accounts Receivable and Payable - Accounts receivable increased by 215.66%, primarily due to an increase in customer receivables[9] - Accounts receivable increased significantly to RMB 219,766,579.21, up from RMB 69,620,919.83, marking a growth of 215.5%[15] - Accounts payable decreased to RMB 347,129,678.70 from RMB 368,186,039.66, a decline of 5.7%[15] Investment Activities - Total cash outflow from investing activities was $103,327,802.86, up from $81,584,867.95, reflecting increased investment expenditures[23] - Cash inflow from investment activities was $654,622.00, a sharp decline from $21,478,367.07, suggesting reduced investment returns[23] Other Financial Metrics - The company reported a net non-recurring profit of CNY 2,046,400.82 for the current period[8] - The company reported a financial expense of -¥13,891,477.27 in Q1 2024, compared to -¥13,090,841.00 in Q1 2023, indicating an increase in interest expenses[19] - Deferred income tax liabilities remained stable, with non-current liabilities totaling ¥148,124,487.67 in Q1 2024, compared to ¥146,890,246.24 in Q1 2023[19] - The impact of exchange rate changes on cash and cash equivalents was $646,820.78, contrasting with a negative impact of -$72,986.75 in the previous year[24] - The company has not adopted new accounting standards or interpretations for the current year, maintaining consistency in financial reporting[24]

本次董事会会议形成如下决议: (一)审议通过《2024 年一季度报告》 具体内容详见公司同日在上海证券交易所网站(www.sse.com.cn)披露的《杭 州豪悦护理用品股份有限公司 2024 年第一季度报告》 证券代码：605009 证券简称：豪悦护理 公告编号：2024-020 杭州豪悦护理用品股份有限公司 第三届董事会第七次会议决议公告 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。 一、董事会会议召开情况 杭州豪悦护理用品股份有限公司(以下简称"公司")第三届董事会第七次会 议于 2024 年 4 月 26 日以现场结合通讯的方式召开。会议通知已于 2024 年 4 月 20 日通过邮件的方式送达全体董事。会议应出席董事 7 人，实际出席会议 的董事 7 人，董事长李志彪先生主持本次会议。本次董事会会议的召集、召开 和表决程序符合有关法律、行政法规、部门规章、规范性文件和《公司章程》的 规定。 二、董事会会议审议情况 表决结果:7 票同意，0 票反对，0 票弃权。 特此公告。 杭州豪悦护理用品股份有限公司董事会 202 ...

[Table_Website] 公司网址 www.hz-haoyue.com [公司简介 Table_Company] 公司是国内个人卫生护理用品 领域领 先的制造商，专注于妇、幼、成人卫生 护理用品的研发、制造与销售业务，产 品涵盖婴儿纸尿裤、成人纸尿裤、经期 裤、卫生巾、湿巾等一次性卫生用品。 公司自成立以来，凭借较强的 研发能 力、严格的质量管控体系和可靠的生产 供应能力，成为众多领先品牌商的合作 伙伴，在业内积累了较多优质的客户， 包括宝洁、金佰利、尤妮佳、SCA(维 达)、花王等全球著名跨国公司，以及 凯儿得乐、蜜芽、BEABA、子初、Eleser、 景兴健护、重庆百亚等国内知名护理用 品企业和母婴品牌商等。 [Table_PicTrend] 绝对价格回报（%） 3m 请务必阅读正文之后的免责条款部分 3 of 4 免责声明 本公司利用信息隔离墙控制内部一个或多个领域、部门或关联机构之间的信息流动。因此，投资者应注意，在法律许可的情 况下，本公司及其所属关联机构可能会持有报告中提到的公司所发行的证券或期权并进行证券或期权交易，也可能为这些公 司提供或者争取提供投资银行、财务顾问或者金融产品等相关服务 ...

本报告仅供 Choice 东方财富 使用，请勿传阅。 2024 年 04 月 25 日 豪悦护理(605009.SH) 自主品牌持续推广， 海外市场成长可期 事件：豪悦护理发布 2023 年报。2023 年公司实现营业收入 27.57 亿元，同比下降 1.62%；归母净利润 4.39 亿元，同比增长 3.72%； 扣非后归母净利润 4.23 亿元，同比增长 7.37%。其中 2023Q4 当 季公司实现营业收入 6.82 亿元，同比下降 16.51%；归母净利润 1.28 亿元，同比下降 19.97%；扣非后归母净利润 1.33 亿元，同 比下降 11.84%。 婴儿卫生用品销量稳增，产品价格随原材料降价短期影响营收 分品类看，2023 年公司婴儿卫生用品、成人卫生用品、其他产品分别 实现收入 19.76/5.55/1.48 亿元，同比增长-2.79%/-10.61%/69.66%。 从量价拆分来看，23 年婴儿卫生用品、成人卫生用品的销量分别为 27.10、6.78 亿片，分别同比增长 3.48%、-7.58%；单片均价分别为 0.73、0.82 元/片，同比增长-6.00%、-3.23%，其中婴儿卫生用品 ...

杭州豪悦护理用品股份有限公司 2023 年年度股东大会 会议资料 2024 年 5 月 6 日 杭州豪悦护理用品股份有限公司 2023 年年度股东大会 2023 年年度股东大会会议须知 为维护广大投资者的合法权益，保障股东在本次股东大会期间依法行使权利， 根据《公司法》、中国证监会《上市公司股东大会规则》和公司《股东大会议事 规则》等有关规定，特制定本会议须知： 一、公司负责本次股东大会的议程安排和会务工作，出席会议人员应当听从 公司工作人员安排，共同维护好会议秩序。 二、为保证股东大会的正常秩序，除出席会议的股东或者股东代理人、董事、 监事、高级管理人员、见证律师及董事会邀请的人员外，公司有权依法拒绝其他 人员进入会场。 三、出席会议的股东须在会议召开前 15 分钟到达会议现场向公司会务人员 办理签到手续，并请按规定出示股票账户卡、持股凭证、身份证或法人单位证明、 授权委托书及出席人身份证等，经验证后领取会议资料，方可出席会议。 四、股东需要在股东大会发言的，应于会议开始前 15 分钟向公司会务人员 进行登记，出示有效的持股证明，填写《发言登记表》；登记发言的人数原则上 以十人为限，超过十人时安排持股数最多 ...

[Table_Contacts] [Table_Page] 年报点评|个护用品 识别风险，发现价值 请务必阅读末页的免责声明 1 / 4 [Table_CompanyInvestDescription] 广发证券—公司投资评级说明 广发证券股份有限公司及其关联机构可能与本报告中提及的公司寻求或正在建立业务关系，因此，投资者应当考虑广发证券股份有限公司 及其关联机构因可能存在的潜在利益冲突而对本报告的独立性产生影响。投资者不应仅依据本报告内容作出任何投资决策。投资者应自主 作出投资决策并自行承担投资风险，任何形式的分享证券投资收益或者分担证券投资损失的书面或者口头承诺均为无效。 本报告署名研究人员、联系人（以下均简称"研究人员"）针对本报告中相关公司或证券的研究分析内容，在此声明：（1）本报告的全部 分析结论、研究观点均精确反映研究人员于本报告发出当日的关于相关公司或证券的所有个人观点，并不代表广发证券的立场；（2）研究 人员的部分或全部的报酬无论在过去、现在还是将来均不会与本报告所述特定分析结论、研究观点具有直接或间接的联系。 研究人员制作本报告的报酬标准依据研究质量、客户评价、工作量等多种因素确定，其影响因 ...

证券代码：605009 证券简称：豪悦护理 公告编号： 2024-019 杭州豪悦护理用品股份有限公司 关于全资子公司购买资产的进展公告 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： 购买资产情况：花王（合肥）有限公司（以下简称"合肥花王"）持有在安徽 省合肥市经济技术开发区内的123,924.69平方米土地、116,742.03平方米建筑物、 建筑物设施、10 条婴儿尿裤/拉拉裤设备及其附属设施/配件等， 购买金额：合同标的物的买卖含税价款共计人民币：232,190,000 元（大写： 贰亿叁仟贰佰壹拾玖万元整）。 本次购买资产事项不构成关联交易，亦不构成《上市公司重大资产重组管理办 法》规定的重大资产重组。 本次《关于设立全资子公司及签署购买资产意向书的议案》已经第三届董事会 第五次会议审议通过，该议案无需经股东大会审议通过。 一、购买资产的基本情况 杭州豪悦护理用品股份有限公司（以下简称"公司"）于 2024 年 1 月 30 日 召开第三届董事会第五次会议，审议通过了《关于设立全资子公司及签署购买资 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price set at 35.76 CNY [7][8]. Core Insights - The company's revenue for Q4 2023 was 680 million CNY, a year-on-year decrease of 16.5%, while the net profit attributable to shareholders was 130 million CNY, down 20.0% year-on-year but up 16.3% quarter-on-quarter [1]. - The company plans to distribute a cash dividend of 132 million CNY for 2023, representing a 30% payout ratio [2]. - The company has successfully expanded its OEM client base, including notable brands like Babycare and Unicharm, and is preparing to launch new products in the market [3]. - The company intends to purchase the Kao factory in Hefei in 2024, leveraging its existing facilities and advantageous location for future business expansion [4]. - The revenue from other products reached 150 million CNY, showing a significant year-on-year increase of 69.7%, with key products becoming KA-level brands on major e-commerce platforms [5]. - The company's Sunny Baby brand has entered major supermarkets in Thailand and is collaborating with local distributors, enhancing its brand influence in the region [6]. - The company has adjusted its profit forecast, expecting net profits of 520 million CNY, 620 million CNY, and 730 million CNY for 2024, 2025, and 2026 respectively [27]. Financial Performance - In 2023, the company's total revenue was 2.76 billion CNY, a slight decrease of 1.6% year-on-year, while the net profit attributable to shareholders was 440 million CNY, an increase of 3.7% year-on-year [10]. - The gross margin for Q4 2023 was 29.0%, up 4.3 percentage points year-on-year, while the net margin was 18.8%, down 0.8 percentage points year-on-year [13]. - The company reported a total market capitalization of approximately 5.55 billion CNY and a debt-to-asset ratio of 30.76% [8]. Market Expansion - The company is focusing on expanding its self-owned brands and enhancing marketing channels to increase product sales and market share [25]. - The company plans to establish a production base in Mexico with a total investment of 30 million USD, aimed at strengthening partnerships with multinational companies in North and South America [22].

请阅读最后一页免责声明及信息披露 http://www.cindasc.com 1 | --- | --- | |-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - In 2023, the company's operating revenue was CNY 2,756,907,840.21, a decrease of 1.62% compared to CNY 2,802,281,104.78 in 2022[22]. - The net profit attributable to shareholders of the listed company reached CNY 438,598,919.71, an increase of 3.72% from CNY 422,879,072.24 in the previous year[22]. - The net profit after deducting non-recurring gains and losses was CNY 423,275,966.04, reflecting a growth of 7.37% compared to CNY 394,217,172.83 in 2022[22]. - The net cash flow generated from operating activities was CNY 784,437,117.48, representing a significant increase of 32.41% from CNY 592,445,898.42 in the previous year[22]. - As of the end of 2023, the total assets amounted to CNY 4,646,744,348.48, an increase of 11.57% from CNY 4,164,710,201.81 at the end of 2022[23]. - The net assets attributable to shareholders of the listed company were CNY 3,217,398,470.92, which is a 6.76% increase from CNY 3,013,748,041.31 in 2022[22]. - Basic earnings per share for 2023 increased to CNY 2.84, a 5.58% rise compared to CNY 2.69 in 2022[24]. - Diluted earnings per share for 2023 were CNY 2.84, reflecting a 5.18% increase from CNY 2.70 in 2022[24]. - The company reported a decrease in the average return on equity after deducting non-recurring gains and losses to 13.44% in 2023, up from 13.16% in 2022[24]. Dividend Distribution - The company distributed a total cash dividend of CNY 263,031,780.90, accounting for 59.97% of the net profit attributable to shareholders[7]. - The company plans to distribute a cash dividend of CNY 8.5 per 10 shares for the 2023 fiscal year, totaling CNY 131,515,890.45[6]. Market and Product Development - In 2023, the company focused on increasing online channel promotion and optimizing product structure, leading to the development of innovative products such as easy-to-wear menstrual pants and breathable materials[33]. - The company obtained a total of 184 patents during the reporting period, including 14 invention patents, 147 utility model patents, and 23 design patents, reinforcing its R&D advantages and risk resistance capabilities[34]. - The company expanded its presence in the Thai market, partnering with local distributors and major e-commerce platforms, resulting in rapid sales growth in neighboring countries like Laos and Myanmar[36]. - The company is focusing on product innovation, including the development of easy-to-wear menstrual pants and baby pull-up pants, utilizing new materials for enhanced comfort and environmental sustainability[66]. Operational Efficiency - The company implemented a digital management platform to enhance operational efficiency, integrating various systems for real-time data governance and quality management[37]. - Lean production management practices were adopted, leading to improved product quality, reduced production costs, and enhanced operational efficiency[37]. - The company has established 16 key management systems under a strict quality management framework, enhancing product quality and customer satisfaction[67]. - The company has introduced advanced production equipment and mastered core material production technologies, ensuring stable product quality[69]. R&D and Innovation - The total R&D investment for 2023 amounted to 10.48 million yuan, representing 3.80% of the operating revenue, with a year-on-year increase of 3.37%[92]. - The company has 150 R&D personnel, accounting for 9.35% of the total workforce, with the majority (93) aged between 30-40 years[91]. - The company completed the acceptance of multiple R&D projects, including the design and development of various innovative personal care products[93]. - The company has ongoing R&D projects focused on biodegradable materials and advanced hygiene products, with several projects currently in the product validation stage[93]. Market Trends and Consumer Behavior - The company anticipates growth in the domestic baby hygiene products market due to increased consumer awareness and the implementation of supportive government policies for childbirth[40]. - The company aims to leverage the rising demand for high-quality baby products driven by changing parenting concepts and increased consumer spending power[39]. - The trend of population aging is expected to further boost the demand for adult incontinence products, creating a competitive market similar to that of baby diapers and sanitary products[48]. Risk Management - The company faces risks related to macroeconomic factors, including declining birth rates, which could impact the market size for disposable hygiene products[122]. - The company is exposed to market competition risks as domestic brands gain market share and competition shifts from price to brand and quality[123]. - The company is at risk from fluctuations in raw material prices, particularly those derived from petroleum, which could affect profit margins[125]. Corporate Governance - The company has a clear and complete decision-making process for profit distribution, ensuring the protection of minority shareholders' rights[166]. - The company has established a robust internal control management system in compliance with regulations, enhancing decision-making efficiency and ensuring asset safety[172]. - The internal control evaluation report received a standard unqualified opinion, indicating effective internal control mechanisms[175]. - The overall governance structure remains stable with no major changes in the executive team[139]. Future Outlook - Future outlook includes a projected revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion strategies[141]. - The company is considering strategic acquisitions to enhance its product portfolio and market presence, with potential targets identified[141]. - New product lines are expected to launch in Q2 2024, anticipated to contribute an additional 5% to overall revenue[141]. - The company is investing heavily in R&D for new technologies, with a budget allocation of 11,100 for innovation initiatives[141].