证券日报网讯12月17日，浙江自然（605080）在互动平台回答投资者提问时表示，根据信息披露公平原 则，为保证所有投资者平等获悉公司信息，公司将在定期报告中披露相应时点的股东数量，请留意相关 公告。 ...

证券代码：605080 证券简称：浙江自然 公告编号：2025-050 浙江大自然户外用品股份有限公司 关于变更财务总监的公告 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： | 姓名 | 离任职务 | 离任时间 | | | 原定任期 | | | 是否继续在上 | 具体职 | 是否存在未 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 到期日 | | 离任原因 | 市公司及其控 | 务（如 | 履行完毕的 | | | | | | | | | | 股子公司任职 | 适用） | 公开承诺 | | 夏秀华 | 财务总监 | 2025 | 年 | 11 | 2027 年 | 6 月 | 个人原因 | 是 | 职工代 | 是 | | | | 月 29 | | 日 | 26 | 日 | | | 表董事 | | (二) 离任对公司的影响 根据《公司法》《上海证券交易所股票上市规则》等法律法规、部门规章及 《公司 ...

每经AI快讯，浙江自然12月1日晚间发布公告称，因个人原因，夏秀华女士申请辞去公司财务总监的职 务。辞职后夏秀华女士继续在公司担任职工代表董事职务。经公司董事长夏永辉先生提名，董事会提名 委员会及审计委员会审议通过，董事会同意聘任郭金鑫先生为公司财务总监，与本届董事会任期一致。 每经头条（nbdtoutiao）——5年期大面积下线，3年期利率低至1.5%仍一单难求：要么"售罄"要么"额度 紧张"！中长期大额存单为何在消失？ （记者 曾健辉） ...

Core Points - The company announced the resignation of its Chief Financial Officer, Xia Xiuhua, due to personal reasons, effective immediately upon delivery of the resignation to the board [1] - Following the resignation, Xia Xiuhua will continue to serve as an employee representative director [1] - The company held its third board meeting on December 1, 2025, where it approved the appointment of Guo Jinxin as the new Chief Financial Officer, effective from the date of the board's approval and aligned with the current board's term [1]

Group 1 - The implementation plan aims to enhance the adaptability of supply and demand in consumer goods, with a goal to optimize the supply structure by 2027, creating three trillion-level consumption sectors and ten hundred-billion-level consumption hotspots [1][3] - By 2030, a high-quality development pattern characterized by positive interaction between supply and consumption is expected to be established, with a steady increase in the contribution of consumption to economic growth [1][3] Group 2 - The plan outlines 19 key tasks across five areas: accelerating the application of new technologies and models, expanding the supply of distinctive and new products, precisely matching the needs of different demographics, cultivating new consumption scenarios and business formats, and creating a favorable development environment [3][4] - Emphasis is placed on accelerating innovation in key industries such as smart connected vehicles, smart home products, consumer electronics, modern textiles, food, and green building materials, with initiatives to develop flagship products and innovative enterprises [3][4] - The plan encourages the development of leisure and sports products, focusing on new demands from event economies, outdoor activities, and winter sports, while promoting high-quality sports equipment [3][4] - Support for health product innovation includes enhancing the research and development of health foods and special dietary foods, as well as recognizing traditional food production areas and local specialty food industries [3][4] Group 3 - The plan aims to expand the influence of historical classic products, supporting industries such as arts and crafts, traditional stationery, silk, tea, and traditional Chinese medicine, while promoting creative design competitions and the development of traditional craft innovation bases [4] - Companies like Zhejiang specialize in outdoor sports products and have developed a unique vertical integration supply chain, selling products to developed regions such as Europe and North America [4][5] - Nobon Co., a leader in differentiated water-jet non-woven fabrics, focuses on a full-chain growth strategy, enhancing its global supply position through technological upgrades and brand development [4][5] - Chuangyuan Co. operates in the cultural education and sports sectors, aiming to resonate with domestic markets through a diversified product matrix and an "IP + technology + cultural creativity" approach [5] - Pianlong Pharmaceutical has extensive experience in the traditional Chinese medicine sector, focusing on brand integration and collaborative innovation in the production of traditional Chinese medicine [5] - Joyful Intelligence leads in the recyclable packaging sector, offering comprehensive packaging solutions and promoting a leasing model to lower barriers for clients [5]

Group 1 - The core event on November 24 marks a significant "super meeting day" for multiple listed companies in Zhejiang, indicating a collective strategic decision-making process [1][3][4][5] - Companies like Huawai Technology, Anglikang, and Hechuan Technology are holding shareholder meetings to discuss future strategies and governance [1][6] Group 2 - There is a noticeable performance divergence among Zhejiang-listed companies, with Zhejiang Rongtai reporting a revenue of 960 million yuan for Q1-Q3 2025, a year-on-year increase of 18.65%, and a net profit of 203 million yuan, up 22.04% [7][8] - In contrast, Zhejiang Natural reported a revenue decline of 30.38% and a net profit drop of 40.63% for the same period [7][8] Group 3 - Emerging sectors are seeing accelerated investments, with Zhejiang Rongtai focusing on humanoid robot components, which are expected to experience significant growth [9][10] - The company is also involved in the new energy sector, with its mica products being crucial for electric vehicle battery safety, anticipating increased demand due to upcoming regulations [10] Group 4 - Institutional investors are showing strong interest in Zhejiang companies, with Zhejiang Rongtai projected to achieve revenues of 1.423 billion, 2.481 billion, and 4.178 billion yuan from 2025 to 2027, alongside net profits of 277 million, 485 million, and 839 million yuan respectively [11][12] - Zhejiang Pharmaceutical has also attracted attention, with forecasts estimating a net profit of 1.113 billion yuan for 2025 [13] Group 5 - Strategic upgrades are underway among Zhejiang-listed companies, focusing on optimizing corporate governance structures, as seen with Anglikang's adjustments to its supervisory framework [15] - International expansion is being pursued, with Zhejiang Rongtai establishing a production base in Thailand and Zhejiang Natural having subsidiaries in Vietnam and Cambodia [15][16] - Continuous investment in technological innovation is emphasized, with companies like Zhejiang Rongtai and Zhejiang Zhenyuan enhancing their R&D capabilities [16]

Investment Rating - The report maintains a "Buy-B" rating for the company [1][6] Core Insights - The company experienced a revenue growth of 3.48% year-on-year for the first three quarters of 2025, reaching 818 million yuan, while the net profit attributable to the parent company increased by 12.06% to 182 million yuan [2][4] - The third quarter of 2025 saw a significant decline in revenue, dropping by 30.38% year-on-year to 133 million yuan, and a net profit decrease of 40.63% to 37 million yuan [4][6] - The company is expected to see rapid growth in its water sports products, with profitability improving steadily, despite facing challenges in the insulated hard box market due to increased competition and tariffs [6][4] Financial Performance Summary - For the first three quarters of 2025, the gross profit margin decreased by 1.30 percentage points to 34.00%, with a third-quarter margin of 28.23%, down 1.07 percentage points year-on-year [5][4] - The operating cash flow for the first three quarters improved significantly, with a net cash flow of 251 million yuan, up 39.23% year-on-year [5][4] - The company’s inventory as of the end of Q3 2025 was 231 million yuan, an increase of 11.31% year-on-year, with inventory turnover days rising by 19 days to 130 days [5][4] Future Projections - The company’s revenue is projected to reach 1.074 billion yuan in 2025, with net profit expected to be 210 million yuan, reflecting a growth trajectory for the following years [6][9] - The estimated P/E ratios for 2025-2027 are 16.1, 13.9, and 12.9 times, respectively, indicating a favorable valuation outlook [6][9]

Core Viewpoint - Zhejiang Natural announced the approval of several key resolutions regarding changes to the company's registered capital and amendments to the Articles of Association during its board and supervisory meetings, as well as the second extraordinary general meeting of shareholders in 2025 [1] Group 1 - The company has completed the business registration change procedures and obtained a new business license from the Zhejiang Provincial Market Supervision Administration [1]

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。 浙江大自然户外用品股份有限公司（以下简称"公司 "） 第三届董事会第七 次会议、第三届监事会第七次会议及 2025 年第二次临时股东大会审议通过了《关于 变更公司注册资本、修订<公司章程>的议案》等议案，具体内容详见公司 2025 年 8 月 26 日、2025 年 10 月 10 日于上海证券交易所网站（http://www.sse.com.cn）上 披露的相关公告。 公司于近日完成了工商变更登记手续，并取得了浙江省市场监督管理局换发的《营 业执照》，基本登记信息如下： 统一社会信用代码：91331023724526593X 名称：浙江大自然户外用品股份有限公司 证券代码：605080 证券简称：浙江自然 公告编号：2025-049 浙江大自然户外用品股份有限公司 关于完成工商变更登记并换发营业执照的公告 成立日期：2000 年 09 月 04 日 住所：浙江省台州市天台县平桥镇下曹村 经营范围：一般项目：体育用品及器材制造；海绵制品制造；箱包制造；塑料制 品制造；家具制造；橡 ...

Core Insights - The company reported Q3 2025 earnings with revenue of 133 million, a year-on-year decrease of 30.4%, and a net profit attributable to shareholders of 37 million, down 40.6% year-on-year, primarily due to seasonal factors and tariff impacts on customer shipments and order rhythms [1] Group 1: Short-term and Mid-term Performance - Q3 performance was significantly affected by tariffs, leading to a slowdown in orders and shipments, but there is potential for recovery as tariffs stabilize and customer inventory is digested [2] - The company is aligning with consumer trends, expanding from traditional outdoor mattresses to include water sports products and insulated bags, thus diversifying its business and leading the camping economy [2] - Water sports products are produced in Vietnam, effectively avoiding trade barriers and benefiting from tariff advantages, with a high certainty of order expansion based on existing customer relationships [2] - The insulated bag segment targets the rigid demand for food preservation in outdoor activities, leveraging partnerships with leading industry clients to quickly penetrate the market [2] Group 2: Global Supply Chain and Profitability - The company has established a robust supply chain network through bases in Vietnam, Cambodia, and Morocco, enhancing supply chain resilience [3] - The Vietnam base focuses on water sports products and is expected to show strong profitability as global outdoor sports market demand increases [3] - The Cambodian base is dedicated to insulated bags, with high scarcity in production capacity and potential for customer expansion [3] - Q3 gross margin was 28.23%, a decrease of 1.1 percentage points year-on-year, with a significant increase in expense ratios, indicating reduced scale effects on profitability [3] - The company anticipates improvement in profitability in Q4 as orders stabilize and new products gain traction, despite a stable overall expense ratio [3] Group 3: Earnings Forecast and Investment Recommendations - Due to tariff pressures on Q3 performance, the company has adjusted its earnings forecast, expecting revenues of 1.07 billion, 1.33 billion, and 1.57 billion for 2025-2027, representing growth rates of 7%, 24%, and 18% respectively [4] - Projected net profits for the same period are 210 million, 270 million, and 310 million, with growth rates of 14%, 25%, and 18% respectively, corresponding to PE ratios of 17, 13, and 11 times [4] - The investment recommendation remains a "buy" rating despite the anticipated challenges [4]