证券代码：002003 证券简称：伟星股份 编号：2024-050 浙江伟星实业发展股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-------------------------|------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | □特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□新闻发布会 | □路演活动 | | | | □现场参观 √其他：电话会议 | | | | 新华资产：刘磊、舒良、朱婕、胡朝凤、李东正 | | 参与单位名称及 人员姓名 | 国金证券：杨雨钦 中投香港：梁志鹏 广发证券： ...

证券代码：002003 证券简称：伟星股份 编号：2024-049 浙江伟星实业发展股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-----------------------------------------------------------------------------------------------|-------------------------------------------------------------------------| | 投资者关系活动 \n类别 | √特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□新闻发布会 \n√现场参观 □其他：电话会议 | □路演活动 | | | 中信资管：李有为 | | | 参与单位名称及 人员姓名 | 财通资管：张若谷 君和资本：张玉洁 中信证券：冯重光、张政、许慧敏 | | | 时间 2024 | 年 12 月 3 日 | | | 地点 临海 | | | | 上市公司接待人 员姓名 | 谢瑾琨等 | | | | 互动环节 ...

证券代码：002003 证券简称：伟星股份 公告编号：2024-039 浙江伟星实业发展股份有限公司 部分股东减持股份预披露公告 浙江伟星实业发展股份有限公司（以下简称"公司"）副总经理张祖兴先生及洪波先生 保证向公司提供的信息内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 持有公司股份 7,939,214 股（占公司总股本的 0.68%）的副总经理张祖兴先生和持有公 司股份 4,680,806 股（占公司总股本的 0.40%）的副总经理洪波先生计划在本减持公告披露 之日起 15 个交易日之后的 3 个月内以集中竞价或大宗交易等方式减持其所持有的部分公司 股份。本次拟减持的股份合计为 3,100,000 股，占公司当前总股本的 0.27%。 近日，公司收到副总经理张祖兴先生及洪波先生分别出具的《减持计划告知函》，有关 情况具体如下： | 序号 | 股东名称 | 职务 | 持有公司股份数量（股） | 占公司总股本的比例 | | --- | --- | --- | --- | --- | | 1 | 张祖兴 | 副总经理 | ...

财联社12月3日电，伟星股份公告，副总经理张祖兴和洪波计划在本减持公告披露之日起15个交易日之 后的3个月内，以集中竞价或大宗交易等方式减持其所持有的部分公司股份，拟减持的股份合计为 3,100,000股，占公司当前总股本的0.27%。 ...

Group 1: Order and Revenue Performance - Recent order growth has slowed compared to the first half of the year, influenced by cautious ordering from downstream brand clients, but overall growth is still maintained [2] - There is a time lag between order intake and revenue recognition, leading to discrepancies between the two metrics [2] Group 2: Market Share and Competitive Advantage - The company has a high market share among domestic brand clients but a relatively low share among international brands, both of which have growth potential [2] - The shift towards small-batch, multi-batch ordering by downstream brand clients enhances the company's competitive advantages, aligning with industry trends [2] Group 3: Product Growth and Profitability - The company anticipates higher growth rates for zippers compared to buttons due to broader application ranges, although product structure changes may affect this [2] - Gross margin sustainability is influenced by raw material costs, product structure, and economies of scale, with a reasonable margin level being sustainable [3] Group 4: Strategic Developments - The establishment of the Vietnam industrial park aims to strengthen comprehensive support for apparel brands and increase market share locally [4] - Future dividend policies will be based on annual profit, development needs, and shareholder preferences, adhering to sustainable development principles [5] - Capital expenditure will focus on global strategy and smart manufacturing, with attention on the implementation of fundraising projects [6]

证券代码：002003 证券简称：伟星股份 编号：2024-047 浙江伟星实业发展股份有限公司 投资者关系活动记录表 | --- | --- | --- | |-----------------------------|-----------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | √特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□新闻发布会 \n√现场参观 □其他：电话会议 | □路演活动 | | 参与单位名称及 人员姓名 | 和聚投资：陈剑 暖逸欣基金：郭艳红 | | | 时间 2024 | 本炎投资：赵耿华 年 11 月 27 日 | | | ...

证券代码：002003 证券简称：伟星股份 编号：2024-046 浙江伟星实业发展股份有限公司 投资者关系活动记录表 | --- | --- | --- | |--------------------------------|----------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------| | 投资者关系活动 \n类别 | □新闻发布会 | √特定对象调研 □分析师会议 \n□媒体采访 □业绩说明会 \n□路演活动 \n√现场参观 □其他：电话会议 | | | 东方证券：施红梅、朱炎 | | | 参与单位名称及 人员姓名 | 广发证券：李咏红 光大资管：徐亦钦 华能信托：刘匀召 杭银理财：钱子莹 巨杉资产：李晓真 朱雀基金：李晴 上银基金：许卓岩 | | ...

Investment Rating - The report maintains an "Outperform" rating for the company, with a target price of RMB 14.85 for 2024, based on a 25X PE valuation [3][12]. Core Insights - The company reported a revenue growth of 19% in Q3, with a recurring net profit after tax (NPAtS) increase of 2.6%. For the first three quarters, revenue reached RMB 3.58 billion, up 23.3% YoY, and net profit attributable to shareholders was RMB 624 million, up 17.2% YoY [8][12]. - The gross profit margin (GPM) improved for six consecutive quarters, reaching 42.70% for the first three quarters and 44.32% in Q3, the highest since 2017. This improvement is attributed to the company's digital intelligence upgrades and cost reduction strategies [9][11]. - The company is focusing on globalization, with fixed assets increasing by 31% year-to-date, supporting its international strategy, particularly in Vietnam and Bangladesh [11]. Financial Performance Summary - For Q3, the company achieved revenue of RMB 1.28 billion, a 19.3% increase YoY, while NPAtS was RMB 208 million, down 9.9% YoY. The recurring NPAtS for Q3 was RMB 208 million, reflecting a 2.6% increase YoY [8][12]. - The first three quarters showed a gross margin of 42.70%, with total expenses increasing by 1.37 percentage points. The NPAtS margin was 17.4%, down 0.91 percentage points YoY [8][12]. - The company expects revenue for 2024-2026 to be RMB 4.69 billion, RMB 5.52 billion, and RMB 6.53 billion, respectively, with net profit projections of RMB 694 million, RMB 825 million, and RMB 993 million [4][12].

Investment Rating - The investment rating for the company is "Outperform the Market" and is maintained [1] Core Views - The report highlights that the company's revenue for the third quarter increased by 19%, while the net profit attributable to the parent company decreased by 9.9% [4] - The company has achieved a gross margin of 44.32% in the third quarter, which is an increase of 2.11 percentage points year-on-year, marking the highest gross margin for the third quarter since 2017 [5] - The company is focusing on global expansion, with significant investments in Vietnam and other international markets to enhance management efficiency and support international market development [6] - The earnings forecast for the company anticipates revenues of 46.9 billion, 55.2 billion, and 65.3 billion yuan for 2024, 2025, and 2026 respectively, with net profits projected at 6.94 billion, 8.25 billion, and 9.93 billion yuan for the same years [6] Financial Performance Summary - For the first three quarters, the company reported total revenue of 35.8 billion yuan, a year-on-year increase of 23.3%, and a net profit of 6.24 billion yuan, up 17.2% year-on-year [4] - The company's gross margin for the first three quarters was 42.70%, an increase of 1.12 percentage points year-on-year, while the net profit margin was 17.4%, a decrease of 0.91 percentage points year-on-year [4] - The company has changed its expense accrual method, which is expected to provide a clearer reflection of operational performance in future financial statements [5] Valuation and Forecast - The report provides a valuation range for the company based on a price-to-earnings ratio (PE) of 20-25x for 2024, resulting in a reasonable value range of 11.88 to 14.85 yuan per share [6] - The projected earnings per share (EPS) for the company is expected to grow from 0.48 yuan in 2023 to 0.85 yuan in 2026 [9]

Group 1 - The core viewpoint is that the demand for mid-to-high-end clothing and apparel is continuously growing due to the improvement of living standards and consumers' pursuit of quality life and low-carbon environmental protection [1] - The textile and apparel industry is gradually moving towards sustainable development and personalized customization [1] - The company is confident in maintaining a steady growth trend, supported by the large consumer base in the domestic market [1]