证券代码：002042 证券简称：华孚时尚 公告编号：2025-25 华孚时尚股份有限公司 第九届董事会2025年第一次临时会议决议公告 本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。 华孚时尚股份有限公司（以下简称"公司"）董事会于 2025 年 6 月 18 日以 传真、电子邮件及书面送达等方式发出了召开第九届董事会 2025 年第一次临时 会议的通知，于 2025 年 6 月 20 日 15:00 以现场结合通讯的方式召开。会议应出 席董事 9 名，实际出席董事 9 名，会议由公司董事长孙伟挺先生主持。公司全体 监事、高级管理人员列席了会议，会议符合《中华人民共和国公司法》、《公司 章程》的规定。本次会议审议通过以下议案: 一、以 9 票赞成、0 票反对、0 票弃权的表决结果审议通过《关于修订<公司 章程>及其附件的议案》。 详见公司与本公告同日刊登在《证券时报》、《中国证券报》及巨潮资讯网 (www.cninfo.com.cn)上的《关于修订<公司章程>及其附件的公告》、《公司章 程》、《董事会议事规则》、《股东会议事规则》。 本议案尚需提交公司股东会 ...

Core Viewpoint - The article discusses the evolution and current policies of China's textile industry, emphasizing the government's support for digital transformation, quality improvement, and sustainable development to enhance the industry's global competitiveness and achieve the goals of becoming a manufacturing and quality powerhouse [1][3]. Policy Evolution - During the "11th Five-Year Plan," the focus was on increasing the technological content and brand proportion in the textile industry, promoting high-tech and environmentally friendly fibers, and expanding the use of non-cotton natural fibers [1]. - The "12th Five-Year Plan" emphasized environmental protection, quality safety, and brand building within the light textile industry [1]. - The "13th Five-Year Plan" aimed to consolidate China's advantages in textile manufacturing and international trade, establishing the country as a textile powerhouse [1]. - The "14th Five-Year Plan" seeks to elevate the textile industry to a higher position in the global value chain, contributing to the goals of becoming a manufacturing and quality strong nation [1]. National Policy Summary and Interpretation - Recent national policies, such as the "Three-Year Action Plan for Digital Transformation of the Textile Industry (2022-2024)" and the "Implementation Plan for Quality Improvement and Upgrading of the Textile Industry (2023-2025)," provide a favorable macro environment and policy support for the industry's development [3][4]. - These policies aim to promote healthy and rapid development across various segments of the textile supply chain and enhance the industry's global competitiveness [3]. Key Policy Details - The "Implementation Plan" outlines goals for 2025, including: - R&D expenditure intensity of 1.3% for large-scale textile enterprises [8]. - 70% of large-scale textile enterprises achieving digital networking [8]. - Reduction in energy and water consumption per unit of industrial added value, along with continuous decreases in major pollutant emissions [8]. - Improvement in the quality and scale of recycled textile products, aiming to establish 20 globally recognized brands [8]. Key Tasks and Focus Areas - Accelerate innovation-driven development and enhance independent innovation capabilities by focusing on key technology breakthroughs and establishing industry innovation platforms [9]. - Promote high-end manufacturing in textiles and expand the application of functional chemical fibers across various sectors of the economy [9]. - Develop smart manufacturing and improve industry quality and efficiency through the adoption of digital technologies [9]. - Advance green and circular low-carbon development by promoting energy-saving and pollution-reducing technologies [9]. - Enhance the resilience of the supply system to meet and lead fashion consumption upgrades [9]. - Optimize regional industrial layouts and foster open cooperation within the textile industry [9]. Provincial Policy Summary - Various provinces have introduced policies to support the development of the textile industry, focusing on high-quality growth, digital transformation, and the promotion of environmentally friendly materials [12][14]. - For example, Guangdong aims to enhance the digital transformation of its textile industry by 2025, achieving over 60% integration of digital technologies [16].

Core Insights - The global textile industry is experiencing a shift towards Southeast Asia, while parts of China's textile sector are upgrading to high-end production [1][4][5] Group 1: Historical Development - The textile industry originated during the 18th century with the British Industrial Revolution, where steam engines significantly increased production efficiency [2] - By the late 19th century, the U.S. began to take over cotton textile production due to labor and resource advantages, with U.S. cotton yarn production exceeding 50% of global output by the 1920s [2] - Japan established a strong textile industry post-World War II through Western technology and government support, becoming a key manufacturing center [2] - China emerged as the world's largest textile producer and exporter in the early 21st century, with textile and apparel exports rising from 13% to 34% of global trade from 2001 to 2010 [2] - Currently, as labor costs rise in China, low-end production is shifting to Southeast Asian countries, while China focuses on high-value products [2][4] Group 2: Market Size and Growth - The global textile industry market value is projected to reach $1.07 trillion in 2024, reflecting a year-on-year growth of approximately 2% [4][5] - The number of companies in the global textile market is estimated at 2.731 million, indicating a significant market presence [5] Group 3: Fiber Production - Global fiber production reached a record high of 124 million tons in 2023, up from 116 million tons in 2022, with polyester fibers accounting for 57% of total fiber production [7] Group 4: Market Structure - The global textile industry exhibits a low concentration level, characterized by a long-tail feature and fragmented competition, with over 3 million registered companies [10] - In the home textile sector, the top three companies hold only 2.31% market share, indicating a highly competitive environment [10] Group 5: Regional Contribution - East Asia dominates the global textile industry, accounting for $717.7 billion, or 66.89% of the total market value [12]

Group 1: Cost Structure Analysis - In the textile industry, direct material costs constitute the primary component of production costs, accounting for approximately 70%-85% of total costs, which significantly impacts pricing and profitability [1][4] - Fluctuations in raw material prices have a notable effect on cost control and profitability, leading companies to adopt strategies such as centralized purchasing, hedging, and advance stocking to mitigate risks [1] Group 2: Price Transmission Mechanism - The textile industry operates through a supply, manufacturing, and sales chain, where costs from the supply side, including raw materials and labor, are transmitted to the manufacturing side as production costs, which then influence consumer pricing through demand elasticity [4] Group 3: Value Distribution in the Textile Industry - Sales represent the most critical segment of the textile value chain, with downstream apparel and home textile brands holding significant bargaining power, while upstream suppliers have limited negotiation capabilities, resulting in intense price competition and low profitability for textile manufacturers [6] Group 4: Industry Operating Efficiency - From 2015 to 2023, the total profit of China's textile industry has shown a downward trend, indicating weakened profitability; however, in 2024, the total profit for textile enterprises (excluding apparel and chemical fiber) is projected to reach 86.87 billion yuan, reflecting a year-on-year increase of 3.5% after two consecutive years of decline [10] Group 5: Profitability of Textile Enterprises - The gross profit margin in the textile industry exhibits significant quarterly cyclicality, typically fluctuating between 10% and 12%, with November generally showing higher margins above 11%, while May and August tend to have lower margins due to seasonal production and sales factors [11]

北京市金杜（深圳）律师事务所（以下简称本所）接受华孚时尚股份有限公司 （以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券法》）、《中 华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员会《上市公司 股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以下简称中国境 内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳门特别行政区和 中国台湾地区）现行有效的法律、行政法规、规章和规范性文件和现行有效的公司 章程有关规定，指派律师出席了公司于 2025 年 5 月 16 日召开的 2024 年年度股东 大会（以下简称本次股东大会）并对本次股东大会相关事项进行见证，依法出具本 法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1． 经公司 2022 年年度股东大会审议通过的《华孚时尚股份有限公司章程》 （以下简称《公司章程》）； 2． 公司 2025 年 4 月 26 日刊登于《中国证券报》《证券时报》、巨潮资讯网 及深圳证券交易所网站的《华孚时尚股份有限公司第九届董事会第一次会 议决议公告》； 3． 公司 2025 年 4 月 26 日 ...

重要提示： 1、本次股东大会没有出现否决提案的情况； 2、本次股东大会不涉及变更以往股东大会已通过的决议； 3、本次股东大会以现场投票和网络投票相结合的方式召开。 一、 会议召开和出席情况 华孚时尚股份有限公司（以下简称"公司"或"本公司"）2024 年年度股东大会 以现场投票及网络投票相结合的方式召开。 证券代码：002042 证券简称：华孚时尚 公告编号：2025-24 华孚时尚股份有限公司 2024 年年度股东大会决议公告 本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）召开时间： 1、现场会议时间：2025 年 5 月 16 日（星期五）下午 14:30-16:00。 2、网络投票时间：2025 年 5 月 16 日。其中，通过深圳证券交易所交易系统进行 网络投票的具体时间为：2025 年 5 月 16 日 9：15-9：25、9:30－11:30 和 13:00－15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 5 月 16 日 9:15－ 15:00 期间的任意时间； （二）现场会议召开地点：广东省深圳市福田区市花 ...

Textile Industry Overview - The textile industry in China has a wide range of products, with import and export statistics categorized under the HS codes specified by the World Customs Organization [1] - The total import and export value of the textile industry in China has shown significant fluctuations from 2015 to 2024, with a notable decline in trade scale in 2023 [2] Import Situation - From 2015 to 2024, the import value of China's textile industry fluctuated between 21 billion to 28 billion USD, peaking at 27.73 billion USD in 2021, a 20.2% increase year-on-year [4] - The textile imports have been on a downward trend from 2022 to 2024, with a significant drop of 58.1% in the first two months of 2025 compared to the same period last year [4] Export Situation - The export scale of China's textile industry has remained substantial, consistently around 300 billion USD over the past decade, increasing from 262.87 billion USD in 2016 to 323.34 billion USD in 2022, with a compound annual growth rate of 3.51% [8] - In 2023, exports to major markets such as the US, EU, and Japan decreased by 9.2%, but are projected to rebound to 301.10 billion USD in 2024, a 2.5% increase year-on-year [11] - The export value in the first two months of 2025 was 42.88 billion USD, reflecting a 4.9% decline compared to the same period in 2024 [11] Price Trends - The price index for imported textile products has shown fluctuations, with a maximum variation of less than 10% from 2015 to 2024, and a 2.47% decrease in 2024 compared to the previous year [6] - The export price index for textile products has also experienced volatility, with a notable increase of 10.27% in December 2022, while the index for 2024 was recorded at 94.03, indicating a decline for two consecutive years [12]

Company Overview - Huafu Fashion is the first listed company in the color-spinning industry in China's A-shares and a global leader in the color-spinning industry, focusing on becoming a fashion operator in the global textile and apparel industry [1] Recent Performance - Huafu Fashion has experienced a decline for four consecutive trading days, with a cumulative drop of -14.58% [1] - The fund "Caitong Value Momentum Mixed A" has entered the top ten shareholders of Huafu Fashion, marking its new entry in the first quarter of this year [1] - The fund has reported a year-to-date return of -23.06%, ranking 2315 out of 2320 in its category [1][2] Fund Manager Profile - The fund manager of Caitong Value Momentum Mixed A is Jin Zicai, who has a master's degree in Microelectronics and Solid Electronics from Shanghai Jiao Tong University [3][4] - Jin Zicai has over 10 years of experience in the investment industry and has held various positions in Caitong Fund Management Company since August 2014 [3][4] Fund Management Details - Caitong Fund Management Company was established in June 2011 and has three shareholders, with Caitong Securities holding 40% [4]

Group 1: Company Performance and Financials - The company reported a total government subsidy of 272 million, with 113 million recognized in current profits and 159 million reducing costs [5] - The company holds 95.4784 million shares in treasury stock, accounting for 5.6% of the total share capital [3] - The company experienced a net loss after deductions due to sanctions affecting its supply chain, leading to a decline in profitability [5] Group 2: Project Updates and Future Plans - The Akesu public computing platform project is currently in the construction preparation phase, affected by seasonal weather conditions [2] - The Huashang Smart Center in Shaoxing has been activated, aimed at promoting digital upgrades and supply chain strategies [2] - The company plans to expand its product lines based on market demand, including potential entry into the ready-to-wear sector [3] Group 3: Market Strategy and Operations - The company is implementing a dual circulation strategy to balance overseas and domestic market development [4] - The company aims to enhance its brand competitiveness by leveraging Xinjiang resources and focusing on both cotton and non-cotton products [5] - The company has established 1 million acres of cotton fields in Xinjiang for its agricultural operations [6] Group 4: Industry Challenges and Responses - The company is addressing the impact of rising costs in the textile industry by integrating its supply chain and enhancing operational efficiency [5] - The company is adapting to international trade uncertainties and has prepared strategies to mitigate risks associated with external pressures [4] - The company is focusing on artificial intelligence and digital transformation to improve operational effectiveness and market responsiveness [4]

Industry Overview - The toy and baby products industry is a significant part of the light industry, playing a crucial role in nurturing children and meeting family expectations [1][3] - The industry is experiencing growth, with the domestic toy retail sales expected to reach CNY 97.85 billion in 2024, a year-on-year increase of 7.9% [1][13] - The retail sales of children's strollers are projected to be CNY 16.98 billion, growing by 17.5%, while children's safety seats and bottles are expected to see increases of 13.2% and 8.1% respectively [1][13] Policy Support - The Chinese government has implemented various policies to support high-quality development and regulation in the toy and baby products sector [5][6] - Key policies include the "Guiding Opinions on Accelerating the Transformation and Upgrading of Traditional Manufacturing" and the approval of national standards for baby products [5][6] Market Dynamics - The industry is characterized by a diverse supply chain, including raw material suppliers, manufacturers, wholesalers, and retailers [7] - The macroeconomic environment, consumer disposable income, and preferences significantly influence demand for baby products [7] Export Performance - China is the largest toy producer and exporter globally, with toy exports (excluding games) projected to reach USD 39.87 billion in 2024 [9][10] - The United States remains the primary export destination, accounting for 26.39% of toy exports in early 2025 [10] Quality Control - The number of recalls for Chinese-made toys in the U.S. decreased by 6.4% in 2024, while the EU saw a 34.1% increase in recalls [15][17] - The Chinese government reported 1,121 batches of non-compliant products in 2024, reflecting increased regulatory scrutiny [17] Key Players - Major global players include Mattel, Hasbro, Bandai, and LEGO, while domestic companies like Aofei Entertainment and Pop Mart are significant in the Chinese market [19][21] - Aofei Entertainment reported a 4.85% increase in baby product revenue, while Pop Mart's revenue surged by 106.92% in 2024 [21][23] Future Trends - The integration of technology in toys is expected to accelerate, with a growing demand for smart toys and educational products [25] - Environmental concerns are driving the use of sustainable materials, with a focus on safety and compliance with international standards [26] - Personalization and IP collaborations are becoming key drivers for consumer engagement and product differentiation [27][28]