Investment Rating - The investment rating for the company is "Buy" [27][29]. Core Views - The company experienced a revenue decline of 13.0% year-on-year in 2023, with total revenue reaching 820 million yuan, and a net profit decrease of 38.6% to 130 million yuan [1][14]. - The decline in performance is attributed to multiple negative factors, including poor overseas macroeconomic conditions, high inventory levels among downstream customers, and a downturn in domestic camping demand [1][14]. - Despite the challenges, the company is expected to see a gradual improvement in demand and profitability, with a projected net profit of 172 million yuan in 2024, reflecting a year-on-year increase of 31.3% [1][14]. Summary by Sections Financial Performance - In 2023, the company's gross margin decreased by 2.8 percentage points to 33.8%, while the net profit margin fell by 6.6 percentage points to 15.9% [1][14]. - The fourth quarter of 2023 showed a revenue growth of 6.7% year-on-year, reaching 150 million yuan, although the gross margin is expected to decline to 30.8% due to product mix changes and capacity ramp-up [1][14]. Product and Regional Performance - Revenue from inflatable mattresses, outdoor bags, and pillows decreased by 25.2%, increased by 22.5%, and decreased by 19.3% respectively in 2023 [1][14]. - The outdoor bag segment performed well, primarily due to increased sales of insulated boxes from Cambodia, although this segment's gross margin declined by 6.2 percentage points [1][14]. - Revenue from exports and domestic sales fell by 7.6% and 29.1% respectively, with gross margins decreasing to 35.6% and 27.0% [1][14]. Future Outlook - The company anticipates that the negative factors impacting performance will gradually diminish, with a recovery in revenue expected as inventory issues among downstream brands are resolved [1][14]. - The company maintains a positive outlook for new product launches and capacity ramp-up, which are expected to improve profitability in the coming years [1][14]. - The reasonable valuation range has been adjusted to 21.8-24.2 yuan, down from the previous range of 28.3-29.8 yuan, corresponding to a 2024 price-to-earnings ratio of 18-20x [1][14].

关于浙江大自然户外用品股份有限公司 东方证券承销保荐有限公司 首次公开发行股票并在主板上市之保荐总结报告书 东方证券承销保荐有限公司（以下简称"东方投行"或"保荐机构"）作 为浙江大自然户外用品股份有限公司（以下简称"浙江自然"或"公司"）2021 年首次公开发行股票并在主板上市的保荐机构，持续督导期限截至2023年12月 31日。目前，持续督导期限已届满，保荐机构根据《证券发行上市保荐业务管 理办法》《上海证券交易所上市公司自律监管指引第11号——持续督导》等相 关法规和规范性文件的要求，出具本保荐总结报告书。 一、保荐机构及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐机构及保荐代表人对其真实性、准确性、完整性承担 法律责任。 2、本机构及本人自愿接受中国证券监督管理委员会对保荐总结报告书相关 事项进行的任何质询和调查。 3、本机构及本人自愿接受依据中国证监会《证券发行上市保荐业务管理办 法》等有关规定采取的监管措施。 三、发行人基本情况 1 | 公司名称 | 浙江大自然户外用品股份有限公司 | | --- | --- | | 股票简称 | 浙江 ...

Financial Performance - In 2023, the company's operating revenue was CNY 823,315,739.10, a decrease of 12.95% compared to CNY 945,801,135.01 in 2022[27]. - The net profit attributable to shareholders of the listed company for 2023 was CNY 130,681,179.01, down 38.64% from CNY 212,972,056.13 in 2022[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 136,927,812.22, a decrease of 33.08% from CNY 204,616,331.46 in 2022[27]. - Basic earnings per share decreased by 38.67% to CNY 0.92 compared to CNY 1.50 in 2022, primarily due to a decline in market demand and underutilization of overseas subsidiaries[29]. - Net profit attributable to shareholders decreased by 38.64% year-on-year, mainly impacted by market demand decline and high initial costs during the ramp-up phase of overseas subsidiaries[29]. - Diluted earnings per share also fell by 38.67% to CNY 0.92, reflecting similar challenges as basic earnings[30]. - The weighted average return on equity decreased by 5.42 percentage points to 7.12% from 12.54% in 2022, indicating reduced profitability[29]. - The company's main business revenue was CNY 821.36 million, reflecting a year-on-year decline of 13.08%[52]. - The company's operating costs decreased by 9.14% to CNY 544.72 million compared to the previous year[53]. Cash Flow and Dividends - The net cash flow from operating activities for 2023 was CNY 239,706,823.64, an increase of 5.26% compared to CNY 227,722,891.40 in 2022[27]. - The total cash dividend proposed for 2023 is CNY 13,187,117.12, which represents 10.09% of the net profit attributable to shareholders[7]. - The total cash dividend, including share repurchase amounts, is CNY 41,143,021.32, accounting for 31.48% of the net profit attributable to shareholders[8]. - The company distributed a cash dividend of CNY 0.22 per share and increased its total share capital to 141,573,040 shares through a capital reserve transfer of 0.4 shares for every share held[31]. Assets and Investments - The company's total assets at the end of 2023 were CNY 1,867,493,572.71, an increase of 4.50% from CNY 1,787,015,489.90 at the end of 2022[27]. - Cash and cash equivalents decreased by 24.31% from the previous period, totaling ¥341,556,762.49, which represents 15.84% of total assets[70]. - Trading financial assets increased by 19.67% to ¥592,412,461.40, representing 27.48% of total assets[70]. - Inventory decreased by 16.41% to ¥215,482,753.98, accounting for 9.99% of total assets[70]. - The company's fixed assets increased by 29.44% to ¥467,568,104.03, which is 21.69% of total assets[71]. Research and Development - Research and development expenses increased by 3.48% to CNY 35.68 million, indicating a continued focus on innovation[53]. - The company is enhancing its core technology advantages and increasing R&D efficiency and quality[44]. - R&D investment accounted for 4.93% of the parent company's operating revenue, with R&D personnel making up 10.96% of the total workforce[68]. - The company plans to increase R&D investment to improve product competitiveness and reduce production costs through technological innovation[84]. Market and Expansion - The company plans to continue focusing on market expansion and new product development in the upcoming year[9]. - The company has initiated global expansion with products from subsidiaries in Vietnam and Cambodia starting mass shipments in 2023[43]. - The outdoor camping market is projected to grow at a compound annual growth rate of 6.68% over the next five years, with a market size of USD 15.01 billion in 2023[46]. - The company will focus on expanding its outdoor product line, including automatic inflatable mattresses and camping products, to capture new market demands[83]. Governance and Management - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements[6]. - The board of directors and senior management have maintained their shareholding status, with no changes reported during the reporting period, ensuring stability in leadership[92]. - The total remuneration for the board members and senior management for the reporting period was approximately 70.70 million yuan, reflecting the company's commitment to rewarding its leadership[92]. - The company has established a remuneration management system to ensure timely payment of salaries to its directors and senior management[98]. Environmental Responsibility - The company reduced carbon dioxide emissions by 4,308 tons through various energy-saving measures and the implementation of a green energy system[126][127]. - The company invested RMB 47.91 million in environmental protection initiatives during the reporting period[125]. - The company engaged over 700 employees in environmental protection activities, including tree planting and green commuting[126]. - The company plans to continue its focus on sustainable development and environmental responsibility in future operations[126]. Risks and Compliance - The company faces risks related to high customer concentration, primarily relying on major clients in the outdoor products industry[86]. - Fluctuations in raw material prices and exchange rates pose significant risks to the company's operational performance[87]. - The company has maintained compliance with related party transaction regulations, ensuring no violations occurred during the reporting period[130]. - The company has committed to resolving industry competition issues and has fulfilled this commitment as of the reporting period[130].

您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（html//acc mof wor con l 台 (http://a c.mof.gov.cn） 报告编码 : 沪249P 关于浙江大自然户外用品股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项报告 浙江大自然户外用品股份有限公司 非经营性资金占用及其他关联资金 往来情况的专项报告 2023 年度 信会师报字[2024]第 ZF10132 号 浙江大自然户外用品股份有限公司全体股东: 我们审计了浙江大自然户外用品股份有限公司(以下简称"贵公 司")2023年度的财务报表,包括 2023年12月 31 日的合并及母公 司资产负债表、2023年度合并及母公司利润表、合并及母公司现金 流量表、合并及母公司所有者权益变动表和相关财务报表附注,并于 2024 年 3 月 23 日出具了报告号为信会师报字[2024]第 ZF10130 号的 无保留意见审计报告。 贵公司管理层根据中国证券监督管理委员会《上市公司监管指引 第 8 号 -- 上市公司资金往来、对外担保的监管要求》(证监会公告 (2022) 26 号)和《上海证券交易所上市公司自律监管指南 ...

信会师报字[2024]第 ZF10131 号 浙江大自然户外用品股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求,我们审计了浙江大自然户外用品股份有限公司(以下简称贵 公司)2023年12月31日的财务报告内部控制的有效性。 浙江大自然户外用品股份有限公司 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.gov.cn）"进 : 户 24 / 11 内部控制审计报告 内部控制审计报告 2023 年 12 月 31 日 一、企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定,建立健全和有效实施内部控制,并评 价其有效性是贵公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的 有效性发表审计意见,并对注意到的非财务报告内部控制的重大缺陷 进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性,存在不能防止和发现错报的可能性。 此外,由于情况的变化可能导致内部控制变得不恰当,或对控制政策 和程序遵循的程度降低,根据内部控制审计结 ...

证券代码：605080 证券简称：浙江自然 公告编号： 2024-009 浙江大自然户外用品股份有限公司 关于续聘会计师事务所的公告 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： 拟续聘的会计师事务所名称：立信会计师事务所（特殊普通合伙）以下 简称"立信"） 一、拟续聘会计师事务所的基本情况 截至 2023 年末，立信会计师事务所拥有合伙人 278 名、注册会计师 2,533 名、从业人员总数 10,730 名，签署过证券服务业务审计报告的注册会计师人数 693 名。立信 2022 年度业务收入（经审计）46.14 亿元，其中审计业务收入 34.08 亿元，证券业务收入 15.16 亿元。2023 年度立信为 671 家上市公司提供年报审 计服务，涉及的主要行业包括计算机、通信和其他电子设备制造业、医药制造业、 专用设备制造业、软件和信息技术服务业、土木工程建筑业等行业，审计收费 8.17 亿元，审计同行业上市公司 14 家。 （2）投资者保护能力 立信具有良好的投资者保护能力，按照相关法律法规要求总所统一计 ...

关于浙江大自然户外用品股份有限公司 2023 年度持续督导年度报告书 东方证券承销保荐有限公司 | 保荐机构名称：东方证券承销保荐有限公司 | 被保荐公司简称：浙江自然 | | --- | --- | | 保荐代表人姓名：郑 睿 | 联系电话：021-2315 3548 | | 保荐代表人姓名：刘俊清 | 联系电话：021-2315 3434 | 一、保荐及持续督导工作概述 经中国证券监督管理委员会《关于核准浙江大自然户外用品股份有限公司首 次公开发行股票的批复》（证监许可〔2021〕1200号）核准，浙江大自然户外用 品股份有限公司（以下简称"浙江自然"或"公司"）向社会公开发行人民币普 通股（A股）股票2,528.09万股，每股发行价31.16元，募集资金总额为78,775.28 万元，扣除各项发行费用（不含税）6,325.64万元后，实际募集资金净额为人民 币72,449.64万元。2021年4月27日立信会计师事务所（特殊普通合伙）对上述募 集资金到位情况进行了验资并出具"信会师报字[2021]第ZF10609号"《验资报 告》。公司开立了募集资金专用账户，对上述募集资金进行专户存储。 东方证券承销保 ...

浙江大自然户外用品股份有限公司 关于开展金融衍生品交易业务的公告 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： ● 交易目的：为防范并降低外汇汇率及利率波动带来的经营风险，浙江大自 然户外用品股份有限公司（以下简称"公司"）及下属子公司拟将选择适合的市 场时机与有关政府部门批准、具有相关业务经营资质的银行等金融机构开展金融 衍生品交易业务，以套期保值为目的，不做投机性、套利性的交易操作。 ● 投资种类：人民币和其他货币的远期结售汇业务、外汇期权、外汇掉期、 货币互换、利率互换、利率掉期、利率期权等产品及其衍生品，或上述产品的组 合。 ● 投资金额：公司及下属子公司拟使用自有资金进行金融衍生品交易，预计 持仓保证金额度上限为 8 亿元（含），决议有效期内资金在上述额度内可循环滚 动使用，但任一时点持仓保证金余额不超过上述额度上限。预计任一交易日持有 的最高合约价值上限为 8 亿元。有效期自公司第二届董事会第十五次会议审议通 过之日起 12 个月内，展期交易不重复计算。 证券代码：605080 证券简称：浙江自然 ...

浙江大自然户外用品股份有限公司 2023年度会计师事务所的履职情况评估报告及审计委员会履行监 督职责情况报告 根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司治理准则》 《国有企业、上市公司选聘会计师事务所管理办法》《上海证券交易所上市公司自律监 管指引第1号——规范运作》和《公司章程》等规定和要求，董事会审计委员会本着勤 勉尽责的原则，恪尽职守，认真履职。现将董事会审计委员会对会计师事务所履行监督 职责的情况汇报如下： 一、2023年年审会计师事务所基本情况 （一）会计师事务所基本情况 1、基本信息 立信会计师事务所（特殊普通合伙）（以下简称"立信会计师事务所"或"立信"） 由我国会计泰斗潘序伦博士于1927年在上海创建，1986年复办，2010年成为全国首家完 成改制的特殊普通合伙制会计师事务所，注册地址为上海市，首席合伙人为朱建弟先生。 立信会计师事务所是国际会计网络BDO的成员所，长期从事证券服务业务，新证券法实 施前具有证券、期货业务许可证，具有H股审计资格，并已向美国公众公司会计监督委 员会（PCAOB）注册登记。 截至2023年末，立信会计师事务所拥有合伙人278名、注册会计师2, ...

浙江大自然户外用品股份有限公司 开展金融衍生品交易业务的可行性分析报告 一、开展金融衍生品交易业务的背景 浙江大自然户外用品股份有限公司（以下简称"公司"）及下属子公司随着出 口业务的增长，公司使用美元等外币交易的金额日益增加，而现阶段美元等币种对 人民币的市场汇率波动较大。为有效规避外汇市场的风险，降低汇率波动对公司成 本控制和业绩造成的不利影响。公司及下属子公司拟与经政府部门批准、具有相关 业务经营资质的银行等金融机构开展以套期保值为目的的金融衍生品交易业务。 二、开展金融衍生品交易业务概述 （一）交易目的 三、开展金融衍生品交易业务的可行性分析 公司拟开展的金融衍生品交易业务与生产经营紧密相关。鉴于公司出口业务的 增长，公司使用美元等外币交易的金额日益增加，而现阶段美元等币种对人民币的 市场汇率波动较大。为防范并降低外汇汇率及利率波动带来的经营风险，公司及下 属子公司拟与经政府部门批准、具有相关业务经营资质的银行等金融机构开展金融 衍生品交易业务，以套期保值为目的，不做投机性、套利性的交易操作。 （二）交易额度、有效期限及投入资金来源 公司及下属子公司拟使用自有资金进行金融衍生品交易，预计持仓保证金额度 ...