Core Points - The China Securities Index for specialized retail has shown a 4.44% increase over the past month, a 11.08% decrease over the past three months, and a 3.10% decline year-to-date [1] - The index is designed to reflect the overall performance of different industry companies within the China Securities Index sample, categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] - The index's top ten holdings include companies such as Shenzhou Digital (21.08%), Kidswant (15.32%), and Jiangsu Guotai (13.42%) [1] Industry Composition - The specialized retail index is composed entirely of specialized retail companies, with a sample adjustment occurring biannually in June and December [2] - The weight factors of the index are generally fixed until the next scheduled adjustment, with provisions for temporary adjustments in case of special events affecting sample companies [2] - The Shenzhen Stock Exchange accounts for 90.76% of the holdings in the specialized retail index, while the Shanghai Stock Exchange accounts for 9.24% [1]

江苏世纪同仁律师事务所关于 江苏国泰国际集团股份有限公司 2024 年度股东大会的法律意见书 江苏国泰国际集团股份有限公司： 根据《中华人民共和国公司法》、《中华人民共和国证券法》和中国证监会 《上市公司股东大会规则》等法律、法规和规范性文件以及公司《章程》的规定， 本所受贵公司董事会的委托，指派本所律师出席贵公司 2024 年度股东大会，并 就本次股东大会的召集、召开程序、出席会议人员资格、召集人资格、表决程序 以及表决结果的合法有效性等事项出具法律意见。 江苏国泰 股东大会法律意见书 1、本次股东大会由董事会召集。2025 年 4 月 24 日，贵公司召开第九届董 事会第十八次会议，决定于 2025 年 5 月 19 日召开 2024 年度股东大会。2025 年 4 月 26 日，贵公司在《证券时报》、巨潮资讯网站（www.cninfo.com.cn）上刊登 了《关于召开 2024 年度股东大会的通知》。 上述会议通知中除载明本次股东大会的召开时间、地点、会议召集人、会议 登记方法等事项外，还包括会议审议事项等内容。 经查，贵公司在本次股东大会召开 20 日前刊登了会议通知。 2、贵公司本次股东大会于 2 ...

| 证券代码：002091 | 证券简称：江苏国泰 公告编号：2025-34 | | --- | --- | | 转债代码：127040 | 转债简称：国泰转债 | 2、本次股东大会未涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）召开时间 （1）现场会议召开时间为：2025年5月19日（星期一）14:30 （2）网络投票时间为：通过深圳证券交易所系统进行网络投票的具体时间为： 2025年5月19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 系统开始投票的时间为2025年5月19日上午9:15，结束时间为2025年5月19日下午 3:00。 江苏国泰国际集团股份有限公司 2024 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。 特别提示： 1、本次股东大会未出现否决议案的情形； （二）现场会议召开地点：张家港市人民中路15号国泰大厦2号楼4楼会议室。 （三）会议的召开方式：本次会议采用现场投票和网络投票相结合的方式召开。 （四）本次股东大会由公司董事会召集，公司董事长张 ...

江苏国泰国际集团股份有限公司 第九届董事会第二十次（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。 证券代码：002091 证券简称：江苏国泰 公告编号：2025-33 转债代码：127040 转债简称：国泰转债 二〇二五年五月十六日 经与会董事签字并加盖董事会印章的公司第九届董事会第二十次（临时）会 议决议。 特此公告。 江苏国泰国际集团股份有限公司 董事会 一、董事会会议召开情况 江苏国泰国际集团股份有限公司（以下简称"公司"）第九届董事会第二十次 （临时）会议，于 2025 年 5 月 13 日以电子邮件和送达等方式发出通知，并于 2025 年 5 月 15 日以通讯表决方式召开。本次会议应参加表决董事九名，实际参 加表决董事九名，本次会议的召开程序符合有关法律、行政法规、部门规章、规 范性文件和公司章程的规定。 二、董事会会议审议情况 1、审议通过《关于制定<市值管理制度>的议案》，同意 9 票，反对 0 票，弃 权 0 票。 为进一步规范公司的市值管理行为，维护公司投资者特别是社会公众投资者 的合法权益，切实推动公司投资价值提升， ...

| 证券代码：002091 | 证券简称：江苏国泰 | 公告编号：2025-32 | | --- | --- | --- | | 转债代码：127040 | 转债简称：国泰转债 | | 江苏国泰国际集团股份有限公司 关于使用暂时闲置的公开发行可转换公司债券募集资金 进行现金管理的进展公告 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。 江苏国泰国际集团股份有限公司（以下简称"公司"）于2024年9月11日召开 2024年第二次临时股东大会，审议通过《关于使用暂时闲置的公开发行可转换公 司债券募集资金进行现金管理的议案》，同意公司使用不超过人民币37亿元（含本 数）的暂时闲置的公开发行可转换公司债券募集资金（含收益）进行现金管理， 在上述额度内，资金可以在股东大会审议通过之日起12个月内滚动使用，期限内 任一时点的现金管理金额（含前述投资的收益进行再投资的相关金额）不超过审 议额度，单个产品使用期限不超过12个月。详细内容见2024年8月24日公司指定信 息 披 露 报 纸 《 证 券 时 报 》 和 指 定 信 息 披 露 网 站 巨 潮 资 讯 网 http ...

Group 1: Financial Performance - In 2024, the company achieved total revenue of 38.956 billion yuan, a year-on-year increase of 4.8%, while net profit attributable to shareholders was 1.106 billion yuan, a decrease of 31.0% [1] - For Q1 2025, the company reported total revenue of 8.875 billion yuan, a quarter-on-quarter decrease of 10.4% but a year-on-year increase of 9.6%, with net profit attributable to shareholders at 242 million yuan, a quarter-on-quarter increase of 11.3% and a year-on-year increase of 13.8% [1] - The subsidiary, Ruitai New Materials, faced significant declines in revenue and profit in 2024, with revenue of 2.102 billion yuan, down 43.5% year-on-year, and net profit of 84.6 million yuan, down 81.9% year-on-year [1] Group 2: Market Trends - The textile and apparel industry in China demonstrated resilience in 2024, with exports reaching 301.13 billion USD, a year-on-year increase of 2.8% [2] - The company plans to expand into emerging markets such as Southeast Asia and Africa to reduce reliance on traditional markets, with overseas revenue accounting for 82.52% of main business income in 2024 [2] - The battery materials market is experiencing increased demand due to the growth in the power and energy storage sectors, but competition is intensifying, leading to price declines [2] Group 3: Profit Forecast and Valuation - The company has adjusted its 2025 net profit forecast down by 22% to 1.378 billion yuan and introduced a new forecast for 2026 at 1.488 billion yuan [3] - The current stock price corresponds to a price-to-earnings ratio of 8.5x for 2025 and 7.8x for 2026, with a target price of 9.2 yuan indicating a potential upside of 28.5% from the current price [3]

Core Viewpoint - Jiangsu Guotai announced a performance briefing on April 29, 2025, highlighting the company's ongoing growth in revenue and addressing challenges in its business segments [1]. Group 1: Financial Performance - In Q1 2025, Jiangsu Guotai reported a main revenue of 8.875 billion, an increase of 9.63% year-on-year [3]. - The net profit attributable to shareholders was 242 million, reflecting a year-on-year increase of 13.81% [3]. - The company's non-recurring net profit was 237 million, up 8.13% year-on-year [3]. - The debt ratio stood at 49.31%, with investment income of 54.465 million and financial expenses of 43.8403 million [3]. - The gross profit margin was recorded at 15.63% [3]. Group 2: Business Strategy and Operations - The company has seen its clothing exports surpass domestic sales, with sufficient orders in overseas factories [2]. - The management plans to focus on high-quality sustainable development, enhancing supply chain services and chemical new energy as core business areas [2]. - Strategies include deepening the integration of trade, manufacturing, and technology, expanding market reach, and innovating business models [2]. - The company aims to optimize product types and improve technical services while expanding both domestic and international operations [2]. - Jiangsu Guotai is also investing in a design center in Shanghai, which will support innovation and research for its subsidiaries [2]. Group 3: Competitive Landscape - Jiangsu Guotai identifies its direct competitor as Shenzhou International, noting differences in product positioning and customer categories [2]. - The company plans to mitigate tariff impacts by diversifying its market presence and enhancing its global supply chain [2]. - Emphasis is placed on product innovation, green production standards, and establishing a robust risk management system [2]. Group 4: Market Sentiment and Analyst Ratings - Over the past 90 days, two institutions have rated the stock as a buy, with an average target price of 10.21 [4]. - Recent financing data indicates a net outflow of 52.821 million in financing over the last three months, with a decrease in financing balance [5].

Group 1: Financial Performance - The company achieved continuous revenue growth in 2024, with a notable decline in net profit attributed to the trade and new energy sectors, each accounting for approximately 50% of the decline [1] - The new energy sector experienced a significant performance drop in 2024, prompting management to implement measures for improvement [1] Group 2: Strategic Initiatives - The company aims to enhance its supply chain services and chemical new energy sectors by integrating trade, manufacturing, and technology, while actively exploring new markets [2] - Plans include expanding product varieties, optimizing technical services, and strengthening collaborations with domestic and international clients [2] Group 3: Competitive Positioning - The company identifies its competitive advantages and disadvantages compared to its direct competitor, Shenzhou International, particularly in product positioning and customer categories [2] - Strategies to mitigate tariff impacts include expanding into emerging markets, optimizing domestic market structures, and enhancing overseas production capabilities [2] Group 4: Innovation and Development - The company is investing in the Guotai Innovation Design Center in Shanghai, which will focus on innovation design, research, and development [3] - The center will consist of four office buildings and will support the company's subsidiaries in design and project management [3]

江苏国泰国际集团股份有限公司（以下简称"公司"）于2024年9月11日召开 2024年第二次临时股东大会，审议通过《关于使用暂时闲置的公开发行可转换公 司债券募集资金进行现金管理的议案》，同意公司使用不超过人民币37亿元（含本 数）的暂时闲置的公开发行可转换公司债券募集资金（含收益）进行现金管理， 在上述额度内，资金可以在股东大会审议通过之日起12个月内滚动使用，期限内 任一时点的现金管理金额（含前述投资的收益进行再投资的相关金额）不超过审 议额度，单个产品使用期限不超过12个月。详细内容见2024年8月24日公司指定信 息 披 露 报 纸 《 证 券 时 报 》 和 指 定 信 息 披 露 网 站 巨 潮 资 讯 网 http://www.cninfo.com.cn《江苏国泰：关于使用暂时闲置的公开发行可转换公 司债券募集资金进行现金管理的公告》。 | 证券代码：002091 | 证券简称：江苏国泰 | 公告编号：2025-31 | | --- | --- | --- | | 转债代码：127040 | 转债简称：国泰转债 | | 江苏国泰国际集团股份有限公司 关于使用暂时闲置的公开发行可转换公司债券募集资 ...

Financial Performance - The company's revenue for Q1 2025 reached ¥8,861,496,288.45, representing a 9.68% increase compared to ¥8,079,679,601.44 in the same period last year[4] - Net profit attributable to shareholders was ¥242,440,247.99, up 13.81% from ¥213,021,086.20 year-on-year[4] - Basic earnings per share increased to ¥0.15, reflecting a 15.38% rise from ¥0.13 in the prior year[4] - Total operating revenue for the current period reached ¥8,875,164,960.28, an increase of 9.6% compared to ¥8,095,532,343.82 in the previous period[20] - Net profit for the current period was ¥408,346,009.41, representing a 10.9% increase from ¥367,884,329.05 in the previous period[21] - Total comprehensive income for the period reached ¥411,856,105.37, an increase from ¥346,793,498.89 in the previous period, representing a growth of approximately 18.8%[22] - Basic earnings per share increased to ¥0.15 from ¥0.13, while diluted earnings per share rose to ¥0.13 from ¥0.12[22] Cash Flow - The net cash flow from operating activities improved significantly, with a net outflow of ¥604,431,159.18, a 66.25% reduction from the previous year's outflow of ¥1,790,794,507.38[11] - Cash inflow from operating activities totaled ¥10,138,180,923.86, up from ¥8,797,549,303.99, indicating a growth of about 15.2%[23] - Cash inflow from investment activities was ¥7,434,339,665.98, compared to ¥3,364,993,002.74 in the previous period, marking an increase of approximately 121.8%[24] - Net cash outflow from investment activities was -¥2,097,986,991.01, worsening from -¥431,452,989.48, indicating increased investment expenditures[24] - Cash inflow from financing activities amounted to ¥3,381,105,946.91, up from ¥1,092,601,156.24, showing a growth of about 209.5%[24] - Net cash outflow from financing activities was -¥298,237,845.63, a decrease from a net inflow of ¥479,716,700.82 in the previous period[24] - The ending cash and cash equivalents balance decreased to ¥9,944,814,706.63 from ¥15,211,937,631.01, a decline of approximately 34.1%[24] Assets and Liabilities - Total assets decreased by 2.35% to ¥44,275,528,134.92 from ¥45,341,097,870.26 at the end of the previous year[4] - Current liabilities totaled ¥16,671,122,651.07, an increase from ¥16,166,187,521.46 at the beginning of the period[18] - Non-current liabilities decreased to ¥5,162,876,998.74 from ¥7,143,766,019.74 at the beginning of the period[18] - The company's equity attributable to shareholders increased to ¥15,926,912,294.49 from ¥15,682,980,207.87[18] Investment and Expenses - The company reported a 154.77% increase in investment income, amounting to ¥54,464,957.87 compared to ¥21,378,354.96 in the same quarter last year[10] - Financial expenses surged by 172.64%, totaling ¥43,840,287.49, primarily due to reduced interest income and decreased foreign exchange gains[10] - Research and development expenses for the current period were ¥18,557,528.73, slightly down from ¥18,761,891.11 in the previous period[21] - The company reported a decrease in interest expenses to ¥69,020,293.42 from ¥75,587,393.51 in the previous period[21] Shareholder Information - Total number of common shareholders at the end of the reporting period is 56,426[13] - The largest shareholder, Jiangsu Guotai International Trade Co., Ltd., holds 31.99% of shares, amounting to 520,634,425 shares, with 88,030,000 shares pledged[13] - The top ten shareholders do not participate in margin trading or securities lending[14] - The company has not disclosed any significant changes in the top ten shareholders due to securities lending activities[14] - Jiangsu Guotai International Trade Co., Ltd. is identified as the actual controller of the company[13] Other Information - The company's cash and cash equivalents decreased to ¥13,096,689,470.38 from ¥14,729,827,889.92[16] - Trading financial assets increased to ¥9,714,559,149.97 from ¥8,468,422,325.48, reflecting a growth of approximately 14.7%[16] - Accounts receivable decreased to ¥6,421,765,421.68 from ¥6,648,951,331.99, indicating a decline of about 3.4%[16] - The company issued 45,574,186 convertible bonds with a total amount of ¥455,741.86 million, netting ¥454,228.80 million after expenses[14] - As of March 31, 2025, the remaining balance of convertible bonds is ¥3,987,042,500.00, with 39,870,425 bonds outstanding[14] - The company did not undergo an audit for the first quarter report[25]