Group 1 - The A-share internet e-commerce sector has declined, with Jihong Co., Ltd. falling nearly 6% [1] - Xinghui Co., Ltd. has dropped over 4%, indicating a broader trend in the sector [1] - Other companies such as Kuaijingtong and Nanji E-commerce also experienced declines [1]

Core Viewpoint - The company is transitioning from a "brand licensing" model, known for its "label-selling" business, back to a self-operated model, aiming to revitalize the "Nanji Ren" brand and improve its market position [1][18]. Business Strategy - Starting in 2023, the company has shifted some core categories of the "Nanji Ren" brand from brand licensing to self-operated sales, launching new product lines including thermal clothing and planning to enter the down jacket market [1][18]. - The company aims to position "Nanji Ren" as a brand that combines the pricing of Decathlon, the variety of Uniqlo, and the quality of Lululemon [2]. Financial Performance - In 2024, the company expects revenue growth of 24.75% to reach 3.358 billion yuan, but it anticipates a net loss of 237 million yuan, marking a shift from profit to loss [1]. - The company's revenue has been declining, with total revenue falling from 3.888 billion yuan in 2021 to 2.692 billion yuan in 2023, and net profit dropping from 477 million yuan to a loss of 298 million yuan in the same period [16]. Historical Context - The "Nanji Ren" brand began as a thermal underwear seller but transitioned to a "label-selling" business model around 2008, focusing on brand licensing and outsourcing production [4][10]. - At its peak in 2019, the brand achieved a GMV of 27.138 billion yuan across e-commerce platforms, with significant market share in various categories [5]. Market Challenges - The company faces challenges related to quality control and brand positioning, as the "label-selling" model has led to inconsistent product quality and legal disputes [12][14]. - The decline in e-commerce platform traffic and the limitations of a single brand strategy have highlighted the need for diversification and improved quality management [16]. Marketing and Sales - The company has increased its marketing budget significantly, with sales expenses projected to reach 588 million yuan in 2024, a 430.28% increase from the previous year [19]. - The company plans to enhance its marketing efficiency and focus on product planning and overall marketing strategies moving forward [20]. Future Outlook - The company is optimistic about its self-operated business model, believing it will yield results in the next one to two years despite current losses [20]. - The company continues to invest in mobile internet marketing, which has been a significant revenue contributor, accounting for over 80% of total revenue in recent years [21].

Group 1: Online Business Development - The company's online business is maintaining steady growth, focusing on high-quality development through product pricing, quality, and variety to ensure reasonable and sustainable growth [1] - The online sales channel distribution will remain relatively balanced, with strategies tailored to different brands and categories across platforms like Alibaba, Douyin, JD.com, and Vipshop [1] Group 2: Offline Store Strategy - The company has opened a pop-up store under the Nanji brand and plans to establish a fixed store at Global Harbor, while actively negotiating with retail entities in Shanghai and surrounding areas [2] - Offline store types include single-point stores, comprehensive stores, and community stores, with a goal to explore suitable business models based on different store elements [2] Group 3: Store Operations and Sales Goals - The focus is on direct-operated stores to maintain high brand standards, with a target of achieving sales of 10 million per store in the future [3] - The SKU for offline stores includes both self-operated and franchise products, with plans to introduce IP collaboration products in large comprehensive stores [3] Group 4: Marketing Plans and Investment - In 2025, the company will adopt a more rational and cautious approach to advertising and sales expenses, aiming to enhance marketing efficiency and brand value conversion [4] - Marketing efforts will shift towards integrated marketing strategies, including terminal image enhancement, designer collaborations, and social media engagement [4] Group 5: Organizational Structure and Team Development - The company has a capable team in legal, financial, and supply chain management to support business development goals, with plans to continuously recruit professionals with channel development and integrated marketing skills [4] Group 6: Supply Chain Future Planning - The company aims to enhance product cost-effectiveness through professional teams that facilitate process upgrades, ensuring products are visually appealing, comfortable, functional, and reasonably priced [5] - Strict management strategies are in place for self-operated product series and franchise operations to ensure product quality and cost advantages in the market [6]

Core Points - The company announced a cash dividend distribution plan, proposing to distribute a cash dividend of 0.40 RMB per 10 shares to all shareholders, totaling 98,194,816.12 RMB [1][2] - The total share capital of the company remains unchanged at 2,454,870,403 shares, and no capital reserve will be converted into additional shares or bonus shares [2][3] - The dividend distribution will be executed on May 30, 2025, with the record date set for May 29, 2025 [3][4] Dividend Distribution Details - The cash dividend distribution is based on the company's total share capital of 2,454,870,403 shares, resulting in a per-share cash dividend of 0.0400000 RMB [1][2] - The company will not withhold individual income tax for shareholders, and tax will be calculated based on the holding period when shares are sold [2][3] - The distribution will be directly credited to shareholders' accounts through their custodial securities companies on the payment date [3][4] Shareholder Information - The dividend distribution is applicable to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch as of the record date [3][4] - The company assumes all legal responsibilities for any shortfall in cash dividends due to a decrease in shares held by shareholders during the distribution application period [4]

南极电商股份有限公司 2025-031 2024 年年度权益分派实施公告 证券代码：002127 证券简称：南极电商 公告编号：2025-031 南极电商股份有限公司 2024 年年度权益分派实施公告 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、南极电商股份有限公司（以下简称"公司"或"本公司"）本次利润分配以公 司现有总股本 2,454,870,403 股为基数，向全体股东每 10 股派发现金红利 0.40 元 （含税），共派发现金红利 98,194,816.12 元。另外，公司本期不进行资本公积转 增股本，不送红股。 2、本次利润分配实施后，按公司总股本折算每股现金分红比例计算如下： 按总股本折算每股现金分红比例=本次实际现金分红总额/公司总股本 =98,194,816.12 元/2,454,870,403 股=0.0400000 元/股；在保证本次权益分派方案 不变的前提下，2024 年年度权益分派实施后的除权除息价格按照上述原则及计 算方式执行，即本次权益分派实施后的除权除息价格=股权登记日收盘价- 0.0400000 元/股。 3 ...

南都记者了解到，南极电商首家旗舰店将于今年6月底落地上海核心商圈环球港。张玉祥表示，单店年 销售额目标不低于1000万元，坪效与周转率对标国际头部品牌，以"商品价值+情绪价值"重构消费者体 验。南极电商透露，该旗舰店店铺设计将引入VMD（视觉商品营销）体系，优化门店陈列与动线设 计，提升消费者决策效率。 加码年轻消费市场、材质创新 2025年5月21日，南极电商（002127.SZ）召开2024年股东大会，会议表决通过了《2024 年度董事会工 作报告》、《2024 年年度报告及摘要》等议案。 与此同时，南极电商董事长张玉祥在会上就公司线下战略转型、产品创新、供应链升级及品牌年轻化等 议题与投资者及券商分析师等第三方机构人士进行了充分交流。 以大店为突破口，重点布局城市旗舰店 近年来，我国消费者的需求多元化程度不断提升，在满足基本的物质需求基础上，开始追求更高层次的 精神和情感满足。 一方面，消费者对于线下商业回归的意愿较强，更渴望从线下体验中获得超越价格的情绪价值；另一方 面，品牌需通过不断创新和提升产品与服务，打造差异化的价值体验，扩展消费者对品牌的联想维度并 提升其对于品牌的忠诚度。 中国连锁经营协会数 ...

Core Viewpoint - The company is undergoing a strategic transformation focusing on offline expansion, product innovation, supply chain upgrades, and brand rejuvenation to meet evolving consumer demands and establish itself as a new benchmark in the retail industry [1][2][4] Group 1: Strategic Transformation - The company has initiated a strategic upgrade over the past two years, emphasizing a "big product, milestone, sustainability" development strategy while optimizing its business structure and introducing self-operated sales formats [2] - The company has shifted from an open authorization model to an invitation-based franchise model, enhancing control over distributors and the supply chain [2] Group 2: Offline Expansion - The company has accelerated its offline channel development, opening its first brand pop-up store in Shanghai in December 2024, focusing on its light luxury product line [3] - The company plans to establish flagship stores, themed experience stores, and community center stores as part of its core direction for strategic transformation in 2025 [3] Group 3: Financial Performance - In 2024, the company achieved a revenue of 3.358 billion yuan, representing a year-on-year growth of 24.75%, and continued this positive trend with a revenue of 729 million yuan in the first quarter of 2025 [3] Group 4: Brand Value Creation - The chairman emphasized that the essence of retail is to continuously create value, aiming for each store and product to become a "trust pivot" for brand value, encouraging repeat purchases from consumers [4]

每经记者｜舒冬妮 每经编辑｜张海妮 张玉祥不缺信徒，哪怕是南极电商（002127.SZ，股价4.9元，市值120.29亿元）净利润下跌312%之后。 南极电商2024年年报显示，公司去年全年营收为33.58亿元，同比增长24.75%，归属于上市公司股东的 净利润为-2.37亿元，同比盈转亏。其中，销售费用激增430%，对业绩造成明显拖累。 5月21日，南极电商在其上海总部举行2024年年度股东大会，离会议开始还有半小时，现场四十多个座 位就陆续坐满了人，一块显示屏上还有连线的投资者，他们关心公司业绩为何下滑，也关心公司自营业 务和线下门店的发展。 2024年注定是南极电商转型阵痛的一年，只不过，阵痛期延续到了2025年一季度。今年一季度公司营收 为7.29亿元，同比略有增长；归母净利润亏损1363万元，同比下降128.54%，销售费用激增仍是重要原 因。自营业务转型成效也尚未凸显，品牌授权和自营业务收入仅为1.01亿元。 销售费用何时能降下来，自营业务何时能带来利润增长，线下门店布局进展如何？这些问题成为此次股 东大会上的焦点。 在回答销售费用激增时，董事长张玉祥坦言，去年的营销有些激进，但今年营销费用就会大 ...

Core Viewpoint - The legal opinion letter confirms that the 2024 annual general meeting of shareholders for Nanji E-commerce Co., Ltd. was convened and conducted in accordance with relevant laws, regulations, and the company's articles of association [1][4][22]. Group 1: Meeting Procedures - The annual general meeting was scheduled for May 21, 2025, as decided by the board of directors [3]. - The meeting took place at the Shangpu Center, 10th Floor, Building 3, No. 99 Chengzhong Road, and was presided over by Chairman Zhang Yuxiang [3][4]. - Voting was conducted both in-person and via an internet voting platform during specified time slots on the day of the meeting [3][4]. Group 2: Attendance and Voting Results - A total of 543 participants attended the meeting, representing 613,535,541 shares, which accounted for 24.9926% of the total voting shares [4][5]. - Online voting included 536 shareholders representing 131,520,736 shares, or 5.3575% of the total voting shares [4][5]. - The voting results showed that 742,387,270 shares (99.6418%) were in favor of the proposals, with 2,435,200 shares (0.3268%) against, and 233,807 shares (0.0314%) abstaining [6][10]. Group 3: Legal Compliance - The legal opinion confirms that the meeting's convening and conducting procedures complied with the Company Law, Securities Law, and the company's articles of association [4][22]. - The qualifications of attendees and the convenor were verified and found to be in accordance with legal requirements [5][22]. - The voting procedures and results were deemed legal and valid, with no discrepancies noted [21][22].

南极电商股份有限公司 2025-030 2024 年年度股东大会决议公告 股票代码：002127 证券简称：南极电商 公告编号：2025-030 南极电商股份有限公司 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。 特别提示： 1.本次股东大会无否决议案的情形。 2.本次股东大会未涉及变更前次股东大会决议。 一、会议召开和出席情况： 1、会议召开情况 （1）会议召开时间： 现场会议时间：2025 年 5 月 21 日（星期三）下午 2：30 网络投票时间：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 21 日上午 9:15～9:25，9:30～11:30，下午 13:00～15:00；通过深圳证券交易所互联网投 票的具体时间为：2025 年 5 月 21 日上午 9:15 至下午 15:00 的任意时间。 （2）会议召开地点：上海市杨浦区江湾城路 99 号尚浦中心 3 号楼 10 楼会议室 （3）会议召开方式：本次股东大会采取现场投票与网络投票相结合的方式 （4）会议召集人：公司董事会 （5）会议主 ...