第九届董事会第四次（临时）会议决议公告 浙江伟星实业发展股份有限公司（以下简称"公司"）及董事会全体成员保证信息披 露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 证券代码：002003 证券简称：伟星股份 公告编号：2025-043 浙江伟星实业发展股份有限公司 2、会议以5票同意、0票反对、0票弃权的表决结果审议通过了《公司第六期股权激励 计划实施考核管理办法》。董事蔡礼永先生、郑阳先生、谢瑾琨先生和沈利勇先生作为公 司本激励计划的激励对象，为关联董事，回避表决。 该事项已经公司董事会薪酬与考核委员会全票审议通过。《公司第六期股权激励计划 实施考核管理办法》登载于巨潮资讯网(http://www.cninfo.com.cn)。 本议案需提交公司2025年第二次临时股东会审议。 经全体董事逐项认真审议，会议以记名投票表决的方式通过了如下议案： 该事项已经公司董事会薪酬与考核委员会全票审议通过；浙江天册律师事务所就本激 励计划的合规性出具了法律意见书；上海荣正企业咨询服务（集团）股份有限公司就公司 1 公司第九届董事会第四次（临时）会议于 2025 年 9 月 23 日 ...

浙江伟星实业发展股份有限公司董事会薪酬与考核委员会 3、公司第六期股权激励计划的内容符合《管理办法》等有关法律、法规及 规范性文件的规定，不存在损害公司及全体股东利益的情形。 4、公司不存在向激励对象提供贷款、贷款担保或任何其他财务资助的计划 或安排。 5、为确保第六期股权激励计划的有效实施，公司制定了相应的实施考核管 理办法，对激励对象具有约束效力，有助于激励目标的实现。 6、公司实施第六期股权激励计划有利于进一步优化公司治理结构，将股东、 公司和骨干员工的利益协调一致，充分调动公司董事、高级管理人员、主要中层 管理骨干和核心技术及业务骨干的创造性和积极性，有利于公司的持续健康发展， 不存在损害公司及全体股东利益的情形。 7、董事会审议该项议案时，关联董事须根据《管理办法》等法律法规、规 范性文件以及《公司章程》的有关规定回避表决。 综上，我们同意公司实施第六期股权激励计划。 关于第六期股权激励计划的核查意见 作为浙江伟星实业发展股份有限公司（以下简称"公司"）董事会薪酬与考 核委员会的成员，我们根据《上市公司股权激励管理办法》（以下简称"管理办 法"）、《深圳证券交易所上市公司自律监管指南第1号——业务办 ...

Group 1 - The core point of the article is that Weixing Co., Ltd. announced a temporary board meeting to discuss the authorization for the sixth equity incentive plan [1] - The meeting was held on September 26, 2025, via communication voting [1] - For the first half of 2025, Weixing's revenue composition was entirely from the other manufacturing industry, accounting for 100% [1] Group 2 - As of the report, Weixing's market capitalization is 11.7 billion yuan [1] - There is a notable trend in the insurance industry, with a new type of insurance product experiencing a 33-fold growth over five years, attracting over 30 insurance companies [1]

Investment Rating - The report maintains an investment rating of "Synchronize with the market - A" for the textile and apparel industry [1]. Core Insights - The report highlights that Chaohongji plans to go public in Hong Kong, and Xuezhongfei has proposed a strategic initiative of "brand enhancement and innovative breakthroughs" [1][6]. - The jewelry business of Chaohongji achieved a revenue of 392.4 million yuan in the first half of 2025, with a year-on-year growth of 21.2%, while the handbag business saw a decline of 17.4% [17][18]. - The report notes a significant increase in same-store sales for Chaohongji's jewelry business, with self-operated stores growing by 26.5% and franchise stores by 32.0% in the first half of 2025 [18]. Summary by Sections Industry Performance - The textile and apparel sector saw a decline of 0.26% this week, while the light industry manufacturing sector fell by 0.58%. The SW textile and apparel sector outperformed the market by 0.19 percentage points [19]. - The SW textile manufacturing sub-sector increased by 0.76%, and the SW apparel and home textile sub-sector rose by 0.66% [19]. Company Performance - The report lists the top five companies in the textile and apparel sector by weekly performance: Taimushi (+61.05%), Hongdou (+26.14%), Baoxini (+22.51%), Xingye Technology (+19.90%), and Xinhua Jin (+10.39%) [28]. - Conversely, the bottom five performers included Mankalon (-10.80%), Laishen Tongling (-8.78%), Meibang Apparel (-7.48%), Mingpai Jewelry (-7.35%), and Dia Shares (-7.05%) [28]. Industry Data Tracking - The report provides insights into raw material prices, noting that the cotton price index was 15,283 yuan/ton, with a month-on-month increase of 0.2% [33]. - For the first eight months of 2025, China's textile and apparel exports amounted to 94.513 billion and 102.761 billion USD, reflecting a year-on-year growth of 1.6% and a decline of 1.7%, respectively [48]. - In August 2025, the domestic retail sales totaled 3.97 trillion yuan, with a year-on-year growth of 3.4% [55]. Industry News - Skechers has completed its privatization and delisting from the New York Stock Exchange, with a transaction price exceeding 9 billion USD [6][67]. - Xuezhongfei debuted its new ice and snow series at the China International Fashion Week, emphasizing its strategic goal to become the leading brand in China's ice and snow down jackets [68][70]. - VF Corporation announced the sale of its Dickies brand for 600 million USD to Bluestar Alliance, aligning with its strategy to focus on core outdoor brands [71][73].

Group 1 - The textile manufacturing sector saw a slight increase of 0.07% on September 17, with Lianfa Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] - Key stocks in the textile manufacturing sector included Lianfa Co., Ltd. with a closing price of 11.14, up 5.09%, and Huayi Group with a closing price of 54.66, up 3.72% [1] Group 2 - The textile manufacturing sector experienced a net outflow of 108 million yuan from main funds, while retail investors saw a net inflow of approximately 90.79 million yuan [2] - Notable stocks with significant fund flows included Lianfa Co., Ltd. with a main fund net inflow of 29.73 million yuan, and Wanshili with a net outflow of 29.57 million yuan from speculative funds [3] - The overall market sentiment showed a mixed trend, with some stocks like Lianfa Co., Ltd. attracting main fund interest while others faced outflows [3]

Investment Rating - The investment rating for the textile and apparel industry is "Outperform the Market" [2] Core Insights - The textile manufacturing sector shows growth while the apparel and home textile sectors face performance pressure. In the first half of 2025, textile manufacturing and apparel/home textile revenues grew by 7.8% and declined by 6.4% year-on-year, respectively. The gross margin for textile manufacturing remained stable at 19.4%, with a net margin increase of 2.2% to 8.5%. In contrast, the apparel/home textile sector saw a slight gross margin increase of 0.1% to 46.1%, but a net margin decline of 1.1% to 8.5% [3][12][15] Summary by Sections 1. Sector Summary: Textile Manufacturing Growth, Apparel/Home Textile Performance Pressure - In the first half of 2025, textile manufacturing revenue increased by 7.8% while apparel/home textile revenue decreased by 6.4%. The gross margin for textile manufacturing was 19.4%, and the net margin improved to 8.5%. The apparel/home textile sector's gross margin was 46.1%, with a net margin of 8.5% [3][12][15] 2. Sports Apparel: Industry Maintains Growth, Brand Differentiation - Sports brands continued to see revenue growth around 10%, while non-sports apparel brands mostly experienced revenue declines. The online channel outperformed offline, with some brands maintaining growth in direct sales [3][5] 3. Casual Home Textiles: Demand Under Pressure, Online Channels and New Business Models Leading Growth - The casual home textile sector continues to face demand pressure, but online channels and new business models are driving some growth [3][5] 4. Contract Manufacturing: Revenue Steady Amid Tariff Policy Impact, Profitability Stable - The textile manufacturing sector maintained steady revenue growth despite tariff policy disruptions. Major contract manufacturers like Huayi and Shenzhou reported full orders, with revenue growth exceeding 10% [3][5][20] 5. Textile Materials: Tariff Policy Affects Client Order Caution, Profitability Varies - The textile materials sector is experiencing varied profitability due to cautious ordering from clients influenced by tariff policies [3][5] 6. Q3 Report Outlook: Brand Trends Stabilizing, Manufacturing Order and Shipment Improvement - The apparel/home textile sector is expected to see improved revenue growth in Q3 compared to Q2, while the textile manufacturing sector anticipates better order and shipment performance following tariff policy stabilization [3][5] 7. Investment Recommendations - Focus on fundamentally sound, undervalued leaders in the market. For sports apparel, brands like Anta Sports, Xtep International, Li Ning, and 361 Degrees are recommended. In textile manufacturing, companies like Shenzhou International and Huayi Group are highlighted for their resilience and potential for profit improvement [5][6]

Market Overview - The Shanghai Composite Index is at 3852.31 points with a decline of -0.21% as of 10:32 AM, and the total trading volume of A-shares is 1,075.764 billion yuan [1] Stocks with Death Cross - A total of 152 A-shares have seen their 5-day moving average cross below the 10-day moving average, indicating potential bearish trends [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Songjing Co., Ltd. (688157) with a distance of -1.61% - Chunguang Technology (603657) with a distance of -1.02% - Pilin Bio (000403) with a distance of -0.93% [1] Detailed Stock Performance - Key stock performances include: - Songjing Co., Ltd. (688157): Today's change is -0.67% with a latest price of 40.09 yuan, which is -3.28% from the 10-day moving average [1] - Chunguang Technology (603657): Today's change is -3.47% with a latest price of 38.70 yuan, which is -6.79% from the 10-day moving average [1] - Pilin Bio (000403): Today's change is -0.52% with a latest price of 17.32 yuan, which is -2.64% from the 10-day moving average [1] Additional Stocks with Notable Changes - Other stocks showing significant changes include: - Jiangsu New Energy (603693): Today's change is -1.38% with a latest price of 12.87 yuan, which is -2.29% from the 10-day moving average [2] - Yongan Pharmaceutical (002365): Today's change is -1.04% with a latest price of 18.11 yuan, which is -1.45% from the 10-day moving average [2] - Mosi Co., Ltd. (001323): Today's change is -1.95% with a latest price of 28.16 yuan, which is -2.96% from the 10-day moving average [2]

Investment Rating - The report maintains an investment rating of "Synchronize with the market" for the textile and apparel industry [2][27]. Core Insights - In August 2025, domestic retail sales (社零) grew by 3.4% year-on-year, slightly below market expectations, with a total retail sales amounting to 3.97 trillion yuan [5][6]. - The retail sales growth for the textile and apparel sector in the first eight months of 2025 was 2.9%, with a notable increase in sports and entertainment products, which saw a growth of 20.6% [8][10]. - The online retail channel continues to outperform the overall retail market, with a year-on-year growth of 6.4% in physical goods online sales [6][10]. Summary by Sections Retail Performance - In August 2025, the year-on-year growth rates for dining and goods retail were 2.1% and 3.6%, respectively [5]. - The consumer confidence index in July 2025 was 89.0, reflecting a 1.1 point increase [5]. Channel Analysis - Online channels showed a year-on-year growth of 6.4% in physical goods, while offline channels like convenience stores and supermarkets demonstrated stable performance [6]. - For the first eight months of 2025, retail sales in convenience stores, supermarkets, department stores, specialty stores, and brand stores grew by 6.6%, 4.9%, 1.2%, 5.2%, and 1.7%, respectively [6]. Sector-Specific Insights - The jewelry sector saw a significant year-on-year growth of 16.8% in August 2025, with gold prices reaching an average of 775.92 yuan per gram, up 36.7% year-on-year [7][11]. - The textile and apparel sector's year-on-year growth was 3.1% in August 2025, with a marginal improvement compared to previous months [7][10]. Investment Recommendations - The report recommends focusing on brands like 361 Degrees, with a noted increase in revenue growth among major sports brands [8][10]. - For the textile manufacturing sector, it suggests tracking the recovery of Nike, which could positively impact overall sector valuations [10].

Group 1 - The company, Weixing Co., Ltd. (002003.SZ), primarily engages in the production of clothing and bag accessories, including buttons, zippers, metal products, plastic products, webbing, ropes, and labels [1] - The company has clarified that it does not involve itself in military or satellite-related businesses [1]

Core Viewpoint - Zhejiang Weixing Industrial Development Co., Ltd. held an investor reception day on September 5, 2025, with participation from 25 institutions and individual investors, indicating strong interest in the company's performance and future strategies [1] Financial Performance - In the first half of 2025, the company achieved operating revenue of 2.338 billion yuan, a year-on-year increase of 1.80% [2] - The net profit attributable to shareholders was 369 million yuan, a year-on-year decrease of 11.19% [2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 362 million yuan, down 9.71% year-on-year [2] Business Segmentation - The growth rate of the zipper business slightly outpaced that of the button business [2] - International business saw a year-on-year growth of 13.72%, outperforming domestic business [2] Market Conditions - The company faced significant order pressure in the second quarter due to uncertainties in tariff policies and weak end-consumer demand, although recent order trends have improved [2] - The company aims for higher growth rates in the second half of the year to meet annual targets, while remaining cautious due to tariff and consumer issues [2] Strategic Initiatives - The company is focusing on globalization and smart manufacturing strategies to enhance its manufacturing capabilities [2] - Short-term growth is expected to come from increasing market share with existing customers, while long-term growth will involve both existing and new customer development [2] Production and Cost Structure - The overseas production capacity currently accounts for 18.48% of total capacity, with plans to enhance manufacturing capabilities through technological upgrades and global expansion [2] - The gross profit margin has improved due to non-standard products, cost-plus pricing, and the impact of lean production and ramp-up of Vietnamese production capacity [2] Sales and Marketing - Sales expenses increased by 12.09% year-on-year in the first half of 2025, attributed to the expansion of the international marketing network and increased employee compensation and travel expenses [2] - The company emphasizes a "product + service" approach, focusing on comprehensive support capabilities rather than just product pricing [2] Competitive Landscape - The global apparel supply chain is maturing, with tariff conflicts accelerating order migration and intensifying competition, benefiting international enterprises [2] - The company differentiates itself from competitors like YKK by focusing on "product + service" and leveraging advantages in internationalization and product diversity [2] Technological Advancements - The company is advancing automation and digital upgrades, achieving improvements in production efficiency, product quality, information transmission, and cost control [2] Talent Development - The company is strengthening its talent development framework and conducting training activities to cultivate young talent [2] - A total of five phases of equity incentive plans have been launched, with future measures to be taken as needed [2]