容诚专字[2025]230Z1104 号 非经营性资金占用及其他关联资金 往来情况专项说明 南极电商股份有限公司 本专项说明仅供南极电商年度报告披露之目的使用，不得用作任何其他目的。 容诚会计师事务所(特殊普通合伙) 中国·北京 容诚会计师事务所(特殊普通合伙) 总所：北京市西城区阜成门外大街 22 号 1 幢 10 层 1001-1 至 / 1001-26 (100037) TEL:010-6600 1391 FAX:010-6600 1392 E-mail:bj@rsmchina.com.cn 关于南极电商股份有限公司 非经营性资金占用及其他关联资金往来情况专项说明 容诚专字[2025]230Z1104 号 南极电商股份有限公司全体股东： 我们接受委托，依据中国注册会计师审计准则审计了南极电商股份有限公司 （以下简称"南极电商"）2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表和合并及母公司所有者权 益 变 动 表 以 及 财 务 报 表 附 注 ， 并 于 2025 年 4 月 24 日 出 具 了 容 诚 审 字 [2025]230Z ...

4月24日晚间，南极电商（股票代码：002127）正式发布2024年度业绩报告。在消费市场深度调整的背 景下，公司通过品牌战略升维、业务模式创新和产品力升级，实现营业收入33.58亿元，同比增幅达 24.75%；毛利总额突破5.05亿元，同比增长19.32%，展现出强劲的品牌韧性与成长动能。 战略升维构筑竞争壁垒，获得资本加持 报告期内，南极电商持续推进品牌升维，构建起"品牌重塑+产品升级+精准营销"三位一体的发展格 局。通过将模式升级新增自营及加盟模式，公司实现了对供应链与经销商的重塑，为品质升级奠定基 础。引入专业设计团队并联合国内外优秀供应商打造"高颜值、强功能、优体验"产品矩阵，同时斥资 4.57亿元实施品牌焕新计划，借助分众传媒等平台强化品牌认知。 新开拓的自营销售体系与线下渠道试点，更标志着南极人品牌向全渠道运营迈出关键步伐。值得关注的 是，前十大股东结构的显著优化，印证了专业投资机构对公司战略方向的认可。 经营质量持续提升 核心财务指标呈现健康增长态势：营业收入同比增加6.66亿元，其中可选消费品品牌服务、自营货品销 售及移动互联网营销服务三大板块协同发力。在战略性投入加大的背景下，公司仍保持1 ...

南极电商（002127）公告，2025年第一季度实现营业收入7.29亿元，同比增长2.03%；归属于上市公司 股东的净利润亏损1362.65万元，上年同期净利润4774.28万元；基本每股收益-0.0057元。同日发布的年 报显示，南极电商2024年实现营业收入33.58亿元，同比增长24.75%；归属于上市公司股东的净利润亏 损2.37亿元，上年同期净利润1.12亿元；基本每股收益-0.1004元。公司拟向全体股东每10股派发现金红 利0.4元(含税)。 ...

一、主要会计数据和财务指标 | 报告期指标 | 2024年年报 | 2023年年报 | 本年比上年增减(%) | 2022年年报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.1004 | 0.0474 | -311.81 | -0.1271 | | 每股净资产（元） | 1.72 | 1.87 | -8.02 | 1.79 | | 每股公积金(元) | 0.53 | 0.57 | -7.02 | 0.61 | | 每股未分配利润(元) | 1.24 | 1.41 | -12.06 | 1.37 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 33.58 | 26.92 | 24.74 | 33.1 | | 净利润(亿元) | -2.37 | 1.12 | -311.61 | -2.98 | | 净资产收益率(%) | -5.44 | 2.51 | -316.73 | -6.48 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 前十大流通股东累计持有： 52609.37万股，累计占流 ...

Financial Performance - The company's operating revenue for 2024 reached ¥3,358,459,080.02, representing a 24.75% increase compared to ¥2,692,224,564.41 in 2023[23]. - The total revenue for the reporting period reached 3.36 billion yuan, an increase of 24.75% compared to 2.69 billion yuan in 2023[61]. - The net profit attributable to shareholders was a loss of ¥236,591,077.37, a decline of 312.04% from a profit of ¥111,579,227.75 in the previous year[23]. - The company experienced a decline in net profit after deducting non-recurring gains and losses, with a loss of ¥286,381,878.02 compared to a profit of ¥74,449,038.69 in 2023, marking a 484.67% decrease[23]. - The company reported a significant increase in gross profit margin compared to the previous year, reflecting improved operational efficiency[16]. - The mobile internet business accounted for 83.25% of total revenue, generating approximately 2.80 billion yuan, reflecting a year-on-year growth of 19.85%[64]. - The company reported a total of ¥49,790,800.65 in non-recurring gains for 2024, compared to ¥37,130,189.06 in 2023[27]. - The company reported a significant increase in online retail sales, with a 6.5% growth in physical goods online retail to ¥130,816 billion in 2024[34]. Dividend and Profit Distribution - The company plans to distribute a cash dividend of 0.40 RMB per 10 shares to all shareholders, based on a total of 2,454,870,403 shares[7]. - The total distributable profit available to shareholders is 1,626,223,581.94 CNY, with the cash dividend representing 100% of the profit distribution[159]. - There are no plans for capital reserve conversion to increase share capital or for stock bonuses during this reporting period[159]. Market Expansion and Growth Strategy - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[16]. - Market expansion efforts include entering three new provinces, aiming for a 10% increase in market share within these regions[16]. - The company aims to enhance its e-commerce platform, targeting a 30% increase in online sales by the end of 2025[16]. - The company is considering strategic acquisitions to bolster its product offerings and market presence, with a budget of $100 million allocated for potential deals[112]. - Market expansion plans include entering three new international markets by the end of 2025, targeting a 25% increase in global market share[112]. Research and Development - The company is investing in new technology development, with a budget allocation of 50 million RMB for R&D in the upcoming year[16]. - R&D investment decreased by 29.63% from ¥21,416,933.82 in 2023 to ¥15,072,076.59 in 2024, representing 0.45% of operating revenue[77]. - R&D personnel decreased by 40.43% from 47 in 2023 to 28 in 2024, with the proportion of R&D personnel dropping from 14.69% to 11.62%[77]. - The company is currently optimizing its AI product style review project, aiming for full automation and high accuracy in product audits[76]. Risk Management - The management highlighted potential risks, including market competition and regulatory changes, which could impact future performance[7]. - The company anticipates risks from slow growth of mainstream platforms, which may impact performance due to a slowdown in overall consumer spending[104]. - There is a significant risk related to fluctuations in raw material prices, which could affect the company's revenue and earnings[105]. - The company has established a quality management system to address risks associated with product quality and trademark usage by franchise stores[106]. Governance and Compliance - The company governance structure complies with the requirements set by the China Securities Regulatory Commission, with ongoing efforts to strengthen governance mechanisms[120]. - The board of directors consists of three independent directors, meeting the legal requirements for composition and qualifications[123]. - The company has established a performance evaluation system linking employee income to work performance, ensuring transparency in the hiring of senior management[126]. - The company has a dedicated information disclosure management system to ensure accurate and timely information dissemination to investors[127]. Employee Management and Compensation - The total number of employees at the end of the reporting period is 326, with 50 in the parent company and 243 in major subsidiaries[154]. - The company maintains a competitive salary policy, ensuring fairness internally while being above market levels[155]. - The compensation system is designed based on job value, employee performance, and basic guarantees, closely linking pay to employee contributions[155]. - The company has implemented 15 welfare policies across five dimensions to enhance non-cash incentives for employees[155]. Strategic Initiatives - The company aims to enhance its creative output and client service capabilities in response to evolving internet marketing trends[47]. - The company is implementing an "intelligent native" strategy to build a new paradigm in digital marketing, focusing on AI-driven dynamic decision-making and end-to-end intelligence from data collection to optimization[102]. - The company aims to improve its valuation through strategic initiatives, including cost optimization and revenue diversification[113]. Social Responsibility - The company actively participates in social responsibility initiatives, including a clothing donation campaign for children in Sichuan in November 2024[179].

Financial Performance - The company's total revenue for the first quarter reached CNY 729.12 million, representing a year-on-year increase of 2.03%[6] - The net profit attributable to shareholders was CNY -13.63 million, a decline of 128.54% compared to the same period last year[5] - The net profit for the current period was a loss of ¥11,721,428.73, compared to a profit of ¥47,095,710.91 in the previous period, indicating a significant decline[25] - The company's weighted average return on equity was -0.32%, a decrease of 1.36 percentage points compared to the previous year[5] - The company reported a basic and diluted earnings per share of -0.0057, compared to 0.0199 in the previous period[26] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -452.71 million, showing a year-on-year increase in outflow of CNY 30.77 million[15] - The net cash flow from operating activities was negative at ¥452,710,485.43, worsening from a negative cash flow of ¥421,936,233.58 in the previous period[27] - Cash and cash equivalents at the end of the period totaled ¥411,205,290.94, down from ¥1,640,529,112.48 at the end of the previous period[27] - The company's cash and cash equivalents decreased to RMB 958,524,741.65 from RMB 2,085,580,475.89[21] Expenses and Costs - Sales expenses increased by 154.87% year-on-year, totaling CNY 90.82 million, primarily due to higher promotional service fees[14] - Sales expenses surged to ¥90,817,292.54 from ¥35,632,788.19, reflecting an increase of approximately 154.5%[24] - Total operating costs increased to ¥742,181,032.66 from ¥663,257,694.68, marking a rise of about 11.9%[24] - Research and development expenses decreased by 42.62% year-on-year to CNY 2.49 million, attributed to a reduction in R&D personnel[15] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4.97 billion, down 2.28% from the end of the previous year[5] - The total assets of the company as of March 31, 2025, amounted to RMB 4,972,389,510.30, a decrease from RMB 5,088,393,218.30 at the beginning of the period[21] - The company's current assets totaled RMB 3,564,641,184.50, down from RMB 3,676,576,488.98[21] - The total liabilities of the company were RMB 758,609,180.31, reduced from RMB 880,451,487.38[22] - The company's equity attributable to shareholders increased slightly to RMB 4,218,525,124.24 from RMB 4,214,591,632.71[23] Accounts Receivable and Inventory - The company reported a significant increase in accounts receivable, which rose by 89.08% to CNY 724.47 million, mainly due to new factoring business loans[12] - The company reported accounts receivable of RMB 724,467,050.68, an increase from RMB 383,149,009.62[21] - The company’s inventory stood at RMB 123,901,804.15, up from RMB 114,568,238.08[22] Future Plans and Investments - The company plans to improve profitability through business scale development and cost control optimization in the future[7] - The company plans to reduce shareholding through a block trade of 43,851,900 shares, which has not yet been executed[19] - The company provided a guarantee of up to RMB 200 million for its wholly-owned subsidiary, Beijing Time Network Technology Co., Ltd.[20] - The company recorded an investment income of ¥3,504,604.69, slightly up from ¥3,284,387.25 in the previous period[24] - The company experienced a significant decrease in credit impairment losses, which improved to -¥1,569,339.55 from -¥7,367,916.58[25] - The company's long-term equity investments increased to RMB 2,569,387.31 from RMB 2,333,647.94[21]

资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当中证全指指数调整样本时，中证全指行业指数样 本随之进行相应调整。在样本公司有特殊事件发生，导致其行业归属发生变更时，将对中证全指行业指 数样本进行相应调整。当样本退市时，将其从指数样本中剔除。样本公司发生收购、合并、分拆等情形 的处理，参照计算与维护细则处理。责任编辑：磐石 金融界4月18日消息，A股三大指数收盘涨跌不一，中证全指零售业指数 (零售指数，H30175)报2490.64 点。 数据统计显示，中证全指零售业指数近一个月下跌2.57%，近三个月上涨3.21%，年至今下跌3.44%。 据了解，为反映中证全指指数样本中不同行业公司证券的整体表现，为投资者提供分析工具，将中证全 指指数样本按中证行业分类分为11个一级行业、35个二级行业、90余个三级行业及200余个四级行业， 再以进入各一、二、三、四级行业的全部证券作为样本编制指数，形成中证全指行业指数。该指数以 2004年 ...

南极电商 20250414 南极电商的前身是南极人，由张玉祥创立于 1998 年。公司在 2008 年金融危机 背景下转型为品牌授权商模式，并于 2015 年成功上市。上市后，公司通过融资 收购了多个品牌，包括卡帝乐鳄鱼、百家云和经典泰迪等，扩展了品类从内衣 到床上用品、男女装、童装和母婴产品。2017 年，公司收购了互联网流量媒体 供应方时间互联，进行广告推送和服务。2024 年 9 月，南极电商推出自营品牌， • 南极电商通过品牌授权模式转型，砍掉工厂和店铺，保留南极人品牌，借 助互联网崛起实现高速发展，2016-2021 年 GMV 从 72 亿增至 435 亿，主要 依赖淘宝平台堆量降价策略。 • 2021 年后，互联网红利见顶，现代服务业收入下滑，淘宝流量模式转变是 主因。公司拓展拼多多渠道，但先发优势不足，业绩受影响。收购时间互 联进入互联网营销领域以应对挑战。 • 公司进行品牌重塑，推出轻奢平价自营品牌，主打大牌平替，注重产品设 计和品质。百家好女装事业部 GMV 达 47 亿，凯迪乐鳄鱼男装计划加入自营 产品。 • 2022 年公司归母净利润首次亏损，因时间互联业绩不佳导致商誉减值及品 牌综合 ...

证券研究报告 2025年04月11日 互联网电商 南极电商(002127.SZ)深度报告：国民品牌重塑，大牌平替 未来可期 评级：买入(首次覆盖) 芦冠宇(证券分析师) S0350521110002 lugy@ghzq.com.cn | 最近一年走势 | | | | | 市场数据 | 2025/04/10 | | --- | --- | --- | --- | --- | --- | --- | | 92% | | 南极电商 | 沪深300 | | 当前价格（元） | 3.88 | | 69% | | | | | 52周价格区间（元） | 2.48-5.61 | | | | | | | 总市值（百万） | 9,524.90 | | 46% | | | | | 流通市值（百万） | 7,739.45 | | 23% | | | | | 总股本（万股） | 245,487.04 | | | | | | | 流通股本（万股） | 199,470.42 | | 0% | | | | | 日均成交额（百万） | 189.88 | | -23% | | | | | 近一月换手（%） | 2.18 | | 2024/04/ ...

南极电商股份有限公司 2025-011 关于变更签字注册会计师及项目质量控制复核人的公告 证券代码：002127 证券简称：南极电商 公告编号：2025-011 南极电商股份有限公司 关于变更签字注册会计师及项目质量控制复核人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 近日，公司收到容诚出具的《签字注册会计师及项目质量控制复核人变更告知函》，现将 具体情况公告如下： 一、签字注册会计师及项目质量控制复核人变更的基本情况 容诚作为公司聘任的 2024 年度审计机构，原指派孔令莉女士、董建华先生、王莲女士作 为签字注册会计师，张果林先生作为项目质量控制复核人，为公司提供 2024 年度审计服务， 因容诚内部工作调整，现将签字注册会计师孔令莉女士变更为俞国徽先生，项目质量控制复核 人张果林先生变更为张良文先生。本次变更后，签字注册会计师为俞国徽先生、董建华先生、 王莲女士，项目质量控制复核人为张良文先生。 二、变更人员基本信息 签字注册会计师：俞国徽，2012年成为中国注册会计师，2010年开始从事上市公司审计业 务，2010年开始在容诚执业，2024年 ...