Core Insights - The Fujian Provincial Market Supervision Administration has released the results of the 2025 textile product quality provincial supervision inspection, indicating a compliance rate of 96.30% with only 1 out of 27 batches failing the inspection [1][2]. Group 1: Inspection Results - A total of 22 companies were inspected, with 27 batches of products tested, resulting in 26 compliant batches and 1 non-compliant batch, leading to a non-compliance rate of 3.70% [1]. - For knitted wool products, 5 companies were inspected with a 100% compliance rate [1]. - In the inspection of down products, 21 companies were tested, with 1 non-compliant batch, resulting in a non-compliance rate of 4.76% [2]. - The inspection of silk quilts involved 1 company and 1 batch, which achieved a 100% compliance rate [2]. Group 2: Actions Taken - The provincial market supervision bureau has mandated local market supervision authorities to take legal action against the non-compliant products and their manufacturers [3]. Group 3: Detailed Inspection Results - The inspection results for knitted wool products showed that companies like Fujian Qipilang Industrial Co., Ltd. and Fujian Qipai Fashion Technology Co., Ltd. had compliant products [5]. - The down products inspection included various brands such as SEPTWOLVES and LILANZ, all of which passed the quality checks [6][7]. - The only non-compliant product was from Saint Giao (China) Co., Ltd., which failed the inspection for a down jacket [7].

Core Insights - The shirt market is a significant segment of the apparel industry, with a projected market size of approximately 1.1 trillion yuan in 2024 and an expected growth to 1.15 trillion yuan in 2025 [6][8] - The industry is primarily divided into men's shirts and women's shirts, with men's shirts focusing on comfort and practicality, while women's shirts emphasize fashion and variety [8][12] - The competitive landscape of the shirt industry in China is intense, with major players including Youngor, Hongdou, HLA, Seven Wolves, and Jiumuwang [12][14] Market Overview - The shirt industry has evolved from a single-function garment to a comprehensive carrier of functionality and cultural symbolism, reflecting basic functionality, fashion expression, and sustainable consumption [4][10] - In 2024, the market share for men's shirts is expected to be 59%, while women's shirts will account for 29% [8] Industry Classification - The shirt industry can be categorized by gender and age (men's, women's, children's), material (cotton, silk, linen), wearing scenarios (business, casual, fashion, workwear, formal), and functionality (wrinkle-resistant, quick-dry, antibacterial, smart shirts) [10][12] Industry Chain - The upstream of the shirt industry includes natural fibers, chemical fibers, and emerging eco-friendly materials, along with sewing threads, buttons, and related production equipment. The midstream involves shirt production, design, manufacturing, and sales, while the downstream focuses on sales channels, including offline stores and online platforms like Tmall and JD.com [10][12] Competitive Landscape - The Chinese shirt industry is characterized by fierce competition, with both domestic and international brands entering the market, intensifying the competition [12][14] - Major companies in the industry have reported significant production volumes for 2024, with HLA producing 16.75 million shirts, Youngor 4.43 million, Hongdou 3.68 million, Jiumuwang 1.72 million, and Taiping Bird 1.36 million [14] Fabric Development Direction - The future direction of shirt fabric development includes diversification of fibers, processes, and styles, with a focus on health protection, green low-carbon characteristics, and diverse styles [16]

Core Viewpoint - The significant profit increase reported by companies like Jiumuwang is primarily driven by investment gains rather than strong sales in men's clothing, indicating a troubling trend in the men's apparel market where brands struggle to sell their products effectively [2][3][4]. Financial Performance - Jiumuwang expects a net profit of 150 to 180 million yuan for the first half of the year, representing a year-on-year increase of 200% to 260% [3]. - The profit surge is largely attributed to investment income, with fair value changes in financial assets expected to contribute 20 to 25 million yuan, a significant recovery from a loss of 111.32 million yuan in the previous year [3]. - In Q1, Jiumuwang's investment income grew by 4022.02% to approximately 12.45 million yuan, primarily due to gains from the disposal of trading financial assets [3]. Main Business Challenges - Jiumuwang's core business performance is declining, with expected non-recurring net profit of 95 to 110 million yuan for the first half, down 14% to 26% year-on-year [4]. - The overall men's apparel market is facing challenges, with Jiumuwang and other brands like Qipilang reporting significant declines in revenue and net profit from core operations [4][5]. Market Trends - The men's clothing market is experiencing a shift, with many brands relying on investment income to sustain profits amid poor sales performance [5][7]. - Inventory turnover days for Jiumuwang exceeded 300 days, indicating slow sales and excess stock, while Qipilang reported 206 days [8][9]. - The market is seeing a polarization in consumer preferences, with lower-priced products gaining market share while mid to high-end brands struggle [9][10]. Strategic Responses - Jiumuwang and Qipilang have shifted towards investment strategies to boost performance, with Jiumuwang having invested over 1 billion yuan in transformation efforts since 2020 [12][14]. - Both companies are attempting to reposition themselves, with Jiumuwang focusing on becoming a "men's pants expert" and Qipilang branding itself as a "jacket expert" [13][14]. - Industry experts suggest that brands need to embrace digital transformation and focus on high-end positioning to remain competitive in a challenging market [14].

证券代码：002029 证券简称：七 匹 狼 公告编号：2025-059 公司在回购期间严格按照《公司法》、《证券法》、《深圳证券交易所上市 公司回购股份实施细则》等相关法律法规的规定实施回购股份并履行信息披露义 务。 福建七匹狼实业股份有限公司 关于股份回购实施完成暨股份变动的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性 陈述或重大遗漏 福建七匹狼实业股份有限公司（以下简称"公司"）于2024年7月12日召开第 八届董事会第十次会议审议通过了《关于回购公司股份方案的议案》，并于2024 年7月17日披露了《回购报告书》（公告编号：2024-038）。公司决定使用自有资 金以集中竞价交易方式回购公司发行的人民币普通股（A股），用于实施股权激励 或员工持股计划。回购股份资金总额不低于人民币1.5亿元且不超过3亿元（含）， 回购价格不超过人民币5.50元/股（含），若按回购价格上限人民币5.50元/股进 行测算，本次回购股份数量下限至上限为：27,272,727股至54,545,454股，占公 司目前总股本比例下限至上限为：3.87%至7.74%，具体回购股份的数量以回购期 ...

证券代码：002029 证券简称：七 匹 狼 公告编号：2025-059 福建七匹狼实业股份有限公司 关于股份回购实施完成暨股份变动的公告 一、回购股份的实施情况 1、公司于2024年7月17日披露了《回购报告书》（公告编号：2024-038）。 2024年7月18日，公司首次通过回购专用证券账户以集中竞价方式实施回购股 份。公司于2024年7月19日披露了《关于首次回购公司股份的公告》（公告编号： 2024-040）。 2、根据《深圳证券交易所上市公司回购股份实施细则》的相关规定，回购期 间内，公司分别于回购股份占上市公司总股本的比例每增加1%、每月的前三个交 易日对相关事项进行了披露，上述进展情况详见公司在巨潮资讯网 （http://www.cninfo.com.cn）披露的相关公告。 3、截至2025年7月11日，本次回购股份期限届满，实际回购时间区间为2024 年7月18日至2025年5月15日。公司通过回购专用证券账户以集中竞价交易方式累 计回购股份数31,044,706股，占公司的总股本的4.40%，回购股份的最高成交价格 为6.50元/股，最低成交价格为4.74元/股，成交总金额为172,898 ...

Core Viewpoint - The legal opinion letter from Shanghai Jintiancheng (Xiamen) Law Firm confirms that the 2025 First Extraordinary General Meeting of Fujian Qipilang Industrial Co., Ltd. was convened and conducted in accordance with relevant laws and regulations [1][2][4]. Group 1: Meeting Procedures - The meeting was proposed and convened by the seventh board of directors, with the notice published on June 21, 2025 [2][3]. - The meeting utilized a combination of on-site and online voting, held on July 8, 2025, at a specified location in Xiamen [3][4]. - The procedures for convening and holding the meeting were found to comply with legal and regulatory requirements [4][6]. Group 2: Attendance and Voting - A total of 4 shareholders attended the on-site meeting, representing 311,763,046 shares, which is 44.2202% of the total voting shares [4][5]. - Online voting included 96 shareholders, representing 2,594,109 shares, or 0.3679% of the total voting shares [5][6]. - The qualifications of attendees and the convenor were verified and deemed compliant with relevant laws and the company's articles of association [4][6]. Group 3: Resolutions Passed - No new proposals were made by shareholders during the meeting [6]. - Resolutions included the election of directors and amendments to the company's articles, with significant support from shareholders [7][8]. - Specific resolutions passed included the cancellation of the supervisory board and amendments to the rules of shareholder meetings, with over 99% approval from attending shareholders [7][8]. Group 4: Conclusion - The legal opinion concludes that the meeting's procedures, attendance qualifications, and voting processes were all legally valid, and the resolutions passed are effective [8][9].

Group 1 - The first meeting of the ninth board of directors of Fujian Septwolves Industry Co., Ltd. was held on July 8, 2025, in Xiamen, with all nine directors present [1] - Zhou Shaoxiong was elected as the chairman of the ninth board of directors, with a term starting from the approval date until the end of the board's term [2] - Zhou Shaoming was elected as the vice chairman of the ninth board of directors, with a similar term as the chairman [2] Group 2 - A new strategic committee was formed, consisting of Zhou Shaoxiong, Zhou Shaoming, Zhou Yongwei, Zhou Liyuan, and Jiao Pei, with Zhou Shaoxiong as the convener [2] - An audit committee was established with members Ye Shaoqin, Zhou Yongwei, and Sun Chuanwang, led by Ye Shaoqin as the convener [2] - A nomination committee was formed with Wu Wenhua, Zhou Shaoxiong, and Sun Chuanwang, with Wu Wenhua as the convener [2] Group 3 - The board decided to reappoint Zhou Shaoxiong as the general manager, with a term aligned with the board's term [3] - Zhou Liyuan, Wu Xingqun, and Chen Ping were appointed as new deputy general managers, also with terms aligned with the board's term [3] - Fan Qiyun was reappointed as the new financial director, with the same term conditions [3] Group 4 - Yuan Weiyan was appointed as the new board secretary, having obtained the necessary qualifications from the Shenzhen Stock Exchange [4] - Liu Jinying was appointed as the new securities affairs representative, also meeting the qualification requirements [4] - The detailed content of the resolutions and related personnel resumes are available in the company's announcement [4]

Core Viewpoint - Fujian Septwolves Industrial Co., Ltd. has completed the election of its ninth board of directors and appointed new senior management and securities representatives, marking a significant governance transition for the company [1][2]. Group 1: Board Composition - The ninth board of directors consists of 8 directors elected at the shareholders' meeting, including 4 non-independent directors, 4 independent directors, and 1 employee representative director [1][2]. - The independent directors' qualifications and independence have been approved by the Shenzhen Stock Exchange, ensuring compliance with relevant regulations [2]. - The board has established several specialized committees, including the Audit Committee, Nomination Committee, Compensation and Assessment Committee, and Strategic Committee, with independent directors holding a majority in key committees [2]. Group 2: Senior Management Appointments - The new senior management team includes General Manager Zhou Shaoxiong, Deputy General Managers Zhou Liyuan, Wu Xingqun, and Chen Ping, along with Financial Director Fan Qiyun and Secretary of the Board Yuan Weiyan [3][4]. - All appointed senior management members meet the qualifications required by relevant laws and regulations, with no disqualifications reported [3][4]. Group 3: Changes in Governance Structure - The company has abolished the supervisory board, transferring its functions to the Audit Committee of the board, which is now responsible for oversight [1][5]. - The previous independent director Liu Xiaohai has completed his term and will no longer hold any position within the company [4][5]. Group 4: Acknowledgment of Departing Members - The company expressed gratitude to departing board and supervisory members for their contributions during their tenure [5].

证券代码：002029 证券简称：七匹狼 公告编号：2025-057 福建七匹狼实业股份有限公司 第九届董事会第一次会议决议公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、误 导性陈述或者重大遗漏负连带责任。 一、董事会会议召开情况 福建七匹狼实业股份有限公司（以下简称"公司"）于2025年7月8日召开 2025年第一次临时股东大会，选举产生第九届董事会。为保证新一届董事会工 作的正常运行，经全体董事同意豁免会议通知时间要求，会议通知于2025年第 一次临时股东大会选举产生第九届董事会后现场送达全体董事。公司于同日下 午在厦门市思明区观音山台南路77号汇金国际中心17楼会议室召开第九届董事 会第一次会议。会议应出席董事9名，亲自出席董事9名，公司高级管理人员列 席了本次会议，经全体董事推选，会议由董事周少雄先生主持。本次会议符合 《中华人民共和国公司法》等有关法律、行政法规、部门规章、规范性文件 （以下合称"法律法规"）及《公司章程》、《董事会议事规则》的规定，表决有 效。 二、董事会会议审议情况 本次会议通过认真审议，采取记名投票方式，逐项审议通过了以下议案： 1、以9票同意， ...

证券代码：002029 证券简称：七匹狼 公告编号：2025-058 福建七匹狼实业股份有限公司 关于董事会完成换届选举及聘任高级管理人员、证券事务 代表的公告 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、误 导性陈述或者重大遗漏负连带责任。 福建七匹狼实业股份有限公司（以下简称"公司"）于2025年7月8日召开 了2025年第一次临时股东大会，选举了8名董事，与职工代表大会选举的1名职 工代表董事组成公司第九届董事会。 2025年7月8日，公司召开第九届董事会第一次会议，选举出公司董事长、 副董事长、董事会专门委员会委员，并聘任了公司新一届高级管理人员及证券 事务代表。 按照《福建七匹狼实业股份有限公司章程》（以下简称"公司章程"）规 定，公司不再设置监事会，由董事会审计委员会行使原监事会职能。 现将具体情况公告如下： 一、第九届董事会组成情况 （一）董事会选举情况 独立董事：叶少琴女士、吴文华女士、孙传旺先生、焦培先生； 职工代表董事：吴兴群先生。 非独立董事、独立董事和职工代表董事共同组成公司第九届董事会，任期 自股东大会审议通过之日起三年。上述独立董事的任职资格和独立性已经 ...