3、会议召开的合法、合规性：本次股东会会议召开符合有关法律、行政法 规、部门规章、规范性文件和《公司章程》的相关规定。 4、会议召开的时间： 证券代码：002154 证券简称：报喜鸟 公告编号：2025-037 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。 1、股东会届次：2025年度第二次临时股东会 报喜鸟控股股份有限公司 一、召开会议的基本情况 2、会议召集人：董事会。公司第八届董事会第十八次会议 关于召开2025年第二次临时股东会的通知公告 7、出席对象： （1）截至2025年8月26日下午收市时在中国证券登记结算有限责任公司深圳 分公司登记在册的本公司全体股东。上述本公司全体股东均有权出席股东会并参 加表决，并可以以书面形式委托代理人出席会议和参加表决。 （2）公司董事和高级管理人员。 （3）公司聘请的律师。 8、现场会议召开地点：浙江永嘉瓯北镇双塔路2299号报喜鸟研发大楼四楼 现场会议召开时间：2025年9月2日（星期二）下午14:00 网络投票时间： （1）通过深圳证券交易所交易系统进行网络投票的时间：2025年9月2日 9:15—9:25、9 ...

证券代码：002154 证券简称：报喜鸟 公告编号：2025——031 报喜鸟控股股份有限公司 第八届董事会第十八次会议决议公告 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。 一、董事会会议召开情况 报喜鸟控股股份有限公司（以下简称"公司"）于 2025 年 8 月 4 日以专人送 达或邮件形式发出了召开第八届董事会第十八次会议的通知，会议于 2025 年 8 月 14 日在上海长宁区临虹路 168 弄 6 号楼六楼会议室以现场结合通讯方式召开， 应出席董事 7 名，实际出席董事 7 名。会议的召集、召开程序及出席的董事人数 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，合法、有 效。会议由公司董事长兼总经理吴志泽先生主持。公司高级管理人员列席了会议。 二、董事会会议审议情况 该事项已经公司董事会审计委员会审议通过。 表决结果：同意票 7 票，反对票 0 票，弃权票 0 票。 具体内容详见巨潮资讯网（www.cninfo.com.cn）和 2025 年 8 月 16 日《证券 时报》、《上海证券报》、《中国证券报》。 2、审议通过了《公司 2 ...

报喜鸟控股股份有限公司 2025 年半年度报告全文 报喜鸟控股股份有限公司 2025 年半年度报告 【2025 年 8 月】 1 报喜鸟控股股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、 完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法 律责任。 公司负责人吴志泽、主管会计工作负责人吴跃现及会计机构负责人(会计 主管人员)黄珍声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告中如有涉及未来计划、业绩预测等前瞻性陈述，均不构成公司对 投资者的实质性承诺，投资者及相关人士均应当对此保持足够的风险认识， 并且应当理解计划、预测与承诺之间的差异。 公司已在本报告中详细描述未来将面临的主要风险及应对措施，详情请 查阅本报告"第三节管理层讨论与分析"之"十一、公司面临的风险和应对措施" 中予以详细阐述，敬请广大投资者注意。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | 目录 | | --- | | 第一节 | 重要提示、目录和释义 | 2 | ...

Core Viewpoint - The article discusses the challenges faced by Chinese men in purchasing suits, highlighting the industry's shortcomings and the need for a transformation towards long-term value and better fit for local body types [3][8]. Group 1: Industry Challenges - The decision-making process for men buying suits has become increasingly prolonged, likened to a painful experience, indicating a deeper issue within the suit industry [3]. - E-commerce platforms often present discrepancies between seller and buyer expectations, leading to dissatisfaction with fast fashion suits that quickly lose quality [5]. - Many international brands' classic styles do not suit Chinese men's body types, creating a demand for solutions that cater to local needs [6]. Group 2: Consumer Preferences - Chinese men are seeking suits that are not just temporary rentals for events but rather long-lasting garments that fit well and maintain value over time [8]. - There is a growing awareness among consumers about the importance of quality and fit, leading to a shift in expectations from the suit industry [8]. Group 3: Company Innovations - Baoxiniro (报喜鸟) is redefining industry standards by focusing on quality and craftsmanship, employing 396 production processes compared to the industry average of 46 [10]. - The company has curated a fabric library with over 200,000 types of materials, ensuring high-quality options that rival international brands [11]. - Baoxiniro is the first domestic company to collaborate with The Woolmark Company, achieving certifications that only 5% of global wool products meet [13]. Group 4: Comfort and Fit - The company emphasizes comfort through innovative designs, such as the bionic wing structure, which enhances mobility and comfort for the wearer [14]. - Baoxiniro has developed a comprehensive database of over 10 million data points on Chinese male body types, allowing for tailored solutions that meet diverse needs [17]. Group 5: Cultural Resonance - The brand has successfully integrated traditional cultural symbols into modern fashion, resonating with consumers' aspirations for significant life events [25][30]. - The collaboration with celebrity Wu Lei has further enhanced the brand's image, creating a cultural phenomenon around the idea of "good fortune" associated with wearing Baoxiniro suits [28]. Group 6: Industry Leadership - Baoxiniro is leading the charge in the industry by establishing over 20 national and industry standards for suits, moving from imitation to innovation [33]. - The introduction of the "Six-Dimensional Suit Standard" simplifies the purchasing process for consumers, addressing the prevalent issue of choice paralysis [34][36]. - The company's commitment to quality and consumer needs positions it as a leader in the evolution of the Chinese suit industry, aiming for global recognition [36].

今年前三季度，纺织服装行业上市公司出现了景气度逐步回升的现象。 国泰君安研报表示，随着下游品牌去库进入尾声，纺织制造订单需求逐步改善，行业景气度稳步回升， 预计2023年第四季度迎来行业订单拐点。展望2024年，考虑到需求恢复及低基数，预计制造端有望迎来 盈利与估值的双重修复。 盘和林建议，未来中国服装业要从规模化、高性价比转向品牌化，提高服装产品附加值，建议中国服装 企业要在品牌、设计、面料上进行突破，才能够为服装业带来新的增长。（记者 桂小笋） -4.99%、17.49%；分别实现归母净利润68.44亿元、113.61亿元、46.46亿元，同比变动幅度分别 为-8.20%、21.36%、13.37%。 从部分上市公司的财报数据具体来看，报喜鸟三季报显示，公司前三季度营业收入同比增长20.71%， 为36.67亿元；归属于上市公司股东的净利润同比增长44.39%，为5.55亿元。森马服饰三季报显示，公 司前三季度的营业收入同比下降0.5%，为88.98亿元；归属于上市公司股东的净利润同比增长206.51%， 为8.32亿元。海澜之家前三季度的营业收入同比增长13.85%，为155.69亿元；归属于上市公司股 ...

Group 1 - French luxury brand Guerlain announced Zhao Jinmai as its skincare ambassador, launching the new Imperial Bee series on August 4 [1] - Baoxiniro appointed Wu Lei as its global brand ambassador and introduced a special Qixi gift box, which includes five silver cards, one NFC leather luggage tag, one acrylic puzzle ornament, one planet exchange card, and one high-definition poster, along with nationwide advertising across over 1,000 locations [2] - Dior announced Deng Wei as its global beauty ambassador and released a Qixi advertisement featuring him on August 4 [3] Group 2 - OLAY appointed Dan Yichun as the brand ambassador for its whitening product line, specifically the OLAY Water Light White Bottle [4] - Aikeman announced Bi Wenjun as its brand ambassador on August 5 [5] - KENINA appointed Wu Xuanyi as its brand ambassador on August 6 [6] Group 3 - Roger Vivier announced Zhang Kangle as a brand friend, showcasing him in the August cover story of a men's fashion magazine, wearing Roger Vivier shoes, bags, and accessories [7] - OfAkiva appointed Li Meng as its global brand ambassador, with her "Naga Mother of Earth" one-shoulder printed dress now available on OfAkiva's official flagship store [8]

Investment Rating - The report maintains an "Outperform" rating for the industry [3] Core Insights - Suzano announced a price increase of $20 per ton for commodity pulp in the Asian market for August, indicating a potential recovery in pulp and paper prices from current cyclical lows [2][4] - The report highlights the ongoing price adjustments in the paper industry, with various paper types experiencing different price movements, suggesting a recovery trend driven by supply-demand dynamics [4][50] - The report emphasizes the importance of policy catalysts in the home furnishing sector, particularly in light of recent housing policy optimizations in Beijing [4][31] Summary by Sections Home Furnishing - Recent policy changes in Beijing allow families to purchase multiple properties outside the city center, which is expected to stimulate the housing market [4][31] - Major home furnishing companies are currently valued at historical lows, presenting potential investment opportunities as market sentiment improves [4][31] Paper Industry - As of August 8, 2025, various paper prices are reported: double glue paper at 4993.75 CNY/ton (unchanged), copper plate paper at 5320 CNY/ton (unchanged), white card paper at 3955 CNY/ton (down 35 CNY/ton), box board paper at 3463.4 CNY/ton (up 12.8 CNY/ton), and corrugated paper at 2582.5 CNY/ton (up 46.25 CNY/ton) [4][50] - The report notes that the current pulp and paper prices are at cyclical lows, with expectations for a rebound due to supply-demand imbalances [4][50] Consumer Goods - The report discusses the launch of new health-focused products in the personal care sector, indicating a shift towards higher quality and compliance with health standards [4][6] - The collaboration between Morning Glory stationery and popular anime IPs is expected to enhance brand visibility and sales [4][6] Export Chain - In July, China's total exports increased by 7.2% year-on-year, with significant growth in exports to ASEAN countries [4][6] - The report suggests that the ongoing shift of production capacity to Southeast Asia may enhance the long-term competitiveness of companies with overseas supply chain layouts [4][6] Packaging - New regulations in Shanghai aimed at reducing single-use plastics are expected to drive demand for recyclable and biodegradable packaging solutions [4][6] - The report recommends companies involved in eco-friendly packaging solutions as potential investment opportunities [4][6] New Tobacco Products - The introduction of new electronic cigarette products in the UK is anticipated to boost market share for refillable devices [4][6] - The report highlights the potential for growth in the new tobacco sector, particularly for companies with strong partnerships and product offerings [4][6] Textile and Apparel - The textile and apparel sector has shown resilience, with notable increases in revenue for key players despite some challenges [4][6] - The report identifies leading companies in the apparel sector as potential investment opportunities based on their performance [4][6]

Core Viewpoint - The Chinese suit industry is transitioning from scale expansion to category reconstruction, driven by technological innovation and changing consumer demands, leading to a future of global development [1][6]. Group 1: Industry Evolution - The Chinese suit industry has evolved from imitation to innovation, with leading brands breaking through development bottlenecks through continuous innovation over the past 40 years [3][4]. - The industry has shifted from a supply-driven seller's market to a demand-driven buyer's market, influenced by consumption upgrades and technological advancements [1][6]. Group 2: Market Dynamics - The post-pandemic era has seen a gradual recovery in the suit market, but it is now characterized by stock competition and structural recovery, focusing on value cultivation and breakthroughs in niche markets [6][8]. - High-end markets, personalized customization, and segmented scenarios are experiencing significant growth, indicating a structural recovery in the domestic suit market [6][9]. Group 3: Consumer Demand - Consumer focus has shifted from basic wear to quality experiences, with over half of consumers desiring suits that reflect personal style and attitude [9][11]. - The suit market is transitioning from a single business scenario to diversified applications, with a notable rise in casual suits, projected to increase from 25% market share in 2025 to 40% by 2030 [11][14]. Group 4: Technological Innovation - Smart manufacturing technologies are driving a transformation in the supply side of the suit industry, with the annual growth rate of customized suits exceeding 20% [14][16]. - Innovations such as AI, 3D virtual samples, and digital twins are reshaping the research and production processes, significantly reducing customization cycles [14][16]. Group 5: Professionalization and Differentiation - The suit industry is shifting from scale competition to professional competition, with 82% of consumers indicating that brand professionalism significantly influences their purchasing decisions [16][31]. - Brands like Baoxiniang are establishing leadership positions in professional competition through deep expertise and innovation [16][33]. Group 6: Sustainability and Cultural Integration - The suit industry faces environmental challenges and opportunities for green transformation, with leading brands like Baoxiniang implementing sustainable practices and innovations [69][71]. - Cultural empowerment is becoming a key factor in the suit industry, with brands integrating traditional elements into modern designs to enhance market competitiveness [72][76]. Group 7: Consumer Preferences and Standards - Consumers prioritize fit and scene adaptability when purchasing suits, with fabric quality and craftsmanship being core evaluation criteria [35][40]. - The establishment of industry standards, such as Baoxiniang's six-dimensional industry standard, aims to enhance market transparency and assist consumers in making informed choices [43][64].

Core Viewpoint - The development of recycled polyester staple fiber is rapidly advancing due to increasing global resource shortages and environmental issues, with a projected production increase in China from 2020 to 2024, reaching 4.21 million tons in 2024, a year-on-year growth of 5.8% [1][14]. Industry Overview - Recycled polyester staple fiber is produced from waste polyester bottle flakes and spinning waste through physical or chemical regeneration processes, with lengths typically ranging from 32 to 102 mm and various specifications [3]. - The fiber is widely used in furniture, toys, bedding, and clothing industries due to its low cost and good performance [3]. Industry Policies - The Chinese government has implemented several policies to promote the development of recycled polyester staple fiber, including encouraging textile companies to prioritize the use of green fiber materials and enhancing the standards and certification systems for green products [5][7]. - Specific policies include the 2022 implementation opinions on accelerating the recycling of waste textiles and the 2024 notice on promoting high-quality recycling of waste textiles and bottle flakes [5][7]. Industry Chain - The upstream of the recycled polyester staple fiber industry includes raw materials such as polyester fabrics, waste polyester bottle flakes, and spinning waste, which directly affect production costs and profitability [8]. - The downstream applications primarily include clothing, home textiles, and industrial textiles, with clothing being the largest demand market [8]. Market Demand - China's waste textile recycling volume is projected to grow from 4 million tons in 2019 to 5.15 million tons in 2024, indicating a significant potential for recycled polyester staple fiber as a key application area [10]. - The textile industry in China is expected to achieve a revenue of 48,353.66 billion yuan in 2024, a year-on-year increase of 3.87%, further driving the demand for recycled fibers [12]. Competitive Landscape - Key players in the recycled polyester staple fiber industry include Yangzhou Tianfu Long Group, Youcai Environmental Resources Technology, and Fujian Minrui New Fiber, which possess large production scales and advanced technologies [16][17][19]. - Smaller enterprises are also emerging, offering high-quality and innovative products that appeal to consumers [16]. Development Trends - The demand for recycled polyester staple fiber is expected to continue growing due to stricter global environmental policies and increasing consumer awareness of sustainability [23]. - Differentiated products, such as recycled colored polyester staple fiber, are anticipated to see significant growth due to their low carbon emissions and cost advantages [24]. - Quality improvements and technological innovations will enhance the competitiveness of recycled polyester staple fiber, with a focus on resource efficiency and reduced environmental impact [26].

Core Viewpoint - The development of recycled polyester staple fiber is accelerating in response to global resource shortages and environmental issues, with production expected to reach 4.21 million tons in 2024, a year-on-year increase of 5.8% [1][14]. Industry Overview - Recycled polyester staple fiber is produced from waste polyester bottle flakes and spinning waste through physical or chemical regeneration processes, with lengths typically ranging from 32 to 102 mm and various specifications [3]. - The industry is driven by strong market demand and a stable supply of raw materials, particularly from the recycling of waste textiles and bottle flakes [1][14]. Industry Policies - The Chinese government has implemented several policies to promote the development of recycled polyester staple fiber, including encouraging textile companies to prioritize the use of green fiber materials and enhancing standards for green products [5][7]. - Key policies include the 2022 implementation opinions on accelerating the recycling of waste textiles and the 2024 notice on promoting high-quality recycling of waste textiles and bottle flakes [5][7]. Industry Chain - The upstream of the recycled polyester staple fiber industry includes the collection of raw materials such as waste polyester bottle flakes and spinning waste, which directly impacts production costs and profitability [8]. - The downstream applications primarily include clothing, home textiles, and industrial textiles, with clothing being the largest market segment [8]. Market Demand - The demand for recycled polyester staple fiber is expected to continue growing due to increasing consumer awareness of environmental issues and government support for sustainable practices [23]. - The recycling volume of waste textiles in China is projected to rise from 4 million tons in 2019 to 5.15 million tons in 2024, providing ample raw material for production [10]. Competitive Landscape - The industry features several leading companies such as Yangzhou Tianfu Long Group, Youcai Environmental Resources Technology, and Fujian Minrui New Fiber, which possess significant market influence and advanced production capabilities [16][17][19]. - Smaller enterprises are also emerging, offering high-quality and innovative products that appeal to consumers [16]. Future Trends - The market for differentiated products, such as recycled colored polyester staple fiber, is expected to expand due to their low carbon emissions and cost advantages [24]. - Continuous improvements in quality and technological innovation will enhance the competitiveness of recycled polyester staple fiber, with a focus on resource efficiency and reduced environmental impact [26].