证券代码：002154 证券简称：报喜鸟 公告编号：2024——060 报喜鸟控股股份有限公司 第八届董事会第十四次会议决议公告 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 2024 年 12 月 27 日以专人 送达或邮件形式发出了召开第八届董事会第十四次会议的通知，会议于 2024 年 12 月 30 日在报喜鸟研发大楼十一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。公司部分监事会成员及高级管理人员列 席了会议。 二、董事会会议审议情况 经全体出席会议的董事审议表决，形成以下决议： 1、审议通过了《关于制定<舆情管理制度>的议案》； 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）。 三、备查文件 1、公司第八届董事会第十四次会议 ...

特此公告。 报喜鸟控股股份有限公司 关于通过高新技术企业重新认定的公告 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。 根据全国高新技术企业认定管理工作领导小组办公室于2024年12月26日发布的 《对浙江省认定机构2024年认定报备的高新技术企业进行备案的公告》，报喜鸟控 股股份有限公司（以下简称"公司"）被列入浙江省认定机构2024年认定报备的高 新技术企业备案名单，通过了高新技术企业认定，证书编号为：GR202433004780， 认定有效期为3年。 本次系公司原高新技术企业证书有效期届满所进行的重新认定，根据《中华人 民共和国企业所得税法》以及国家对高新技术企业的相关税收规定，公司自获得高 新技术企业重新认定后连续三年(2024年-2026年)将继续享受高新技术企业的相关 优惠政策，即按15%的税率缴纳企业所得税。公司已按15%的税率预缴2024年企业所 得税，本次通过国家高新技术企业的认定不会影响公司2024年度的相关财务数据。 证券代码：002154 证券简称：报喜鸟 公告编号：2024——059 报喜鸟控股股份有限公司 董事会 2024年12月2 ...

证券代码：002154 证券简称：报喜鸟 公告编号：2024-058 报喜鸟控股股份有限公司 关于为合并范围内子公司提供贷款担保的进展公告 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、担保情况概述 报喜鸟控股股份有限公司（以下简称"公司"）分别于2024年4月10日、2024 年5月7日召开公司第八届董事会第八次会议和2023年度股东大会，审议通过了 《关于为合并范围内子公司提供贷款担保的议案》，同意公司对全资子公司浙江 凤凰尚品品牌管理有限公司（以下简称凤凰尚品管理）、控股子公司上海宝鸟服 饰有限公司（以下简称上海宝鸟）及其下属全资子公司报喜鸟集团安徽宝鸟服饰 有限公司（以下简称安徽宝鸟）提供流动资金贷款、银行承兑汇票、保函等不超 过人民币8.5亿元的连带责任担保，单笔担保金额不高于人民币1亿元。担保期限 为各笔担保之日起不超过2年，具体担保办理事宜由公司经营层具体执行，有效 期为2023年度股东大会审议通过之日起至下一年度股东大会召开前一日。本年度 因续贷而产生的担保计入本次授权额度内。具体内容详见巨潮资讯网 （www.cninfo.com.cn）和 ...

证券代码：002154 证券简称：报喜鸟 公告编号：2024-057 二、 本次股东股份解除质押情况 | 股东 | 是否为控股 股东或第一 | 本次解除质 | 占其所 | 占公司 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 大股东及其 | 押数量 | 持股份 | 总股本 | 质押起始日 | 质押解除日 | 质权人 | | | 一致行动人 | （股） | 比例 | 比例 | | | | | 吴婷婷 | 是 | 6,950,000 | 3.75% | 0.48% | 2021/12/20 | 2024/12/17 | 国金证券股份有限公司 | | | 合计 | 6,950,000 | 3.75% | 0.48% | —— | | | 三、 股东股份累计质押情况 报喜鸟控股股份有限公司 关于公司大股东部分股份质押及解除质押的公告 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。 报喜鸟控股股份有限公司（以下简称"公司"）于近日收到公司大股东吴婷 婷女士部分股票办理质押及解除质押手续的通 ...

证券代码：002154 证券简称：报喜鸟 公告编号：2024-056 报喜鸟控股股份有限公司 关于公司控股股东部分股票质押展期的公告 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。 报喜鸟控股股份有限公司（以下简称"公司"）于2024年11月26日收到公司控 股股东吴志泽先生部分股票办理了质押展期手续的通知，具体事项如下： 一、股东股份质押展期的基本情况 | 股东 | 是否为控 股股东或 | 本次质押 | 占其所 | 占公司 | 是否 | 是否 为补 | | | 展期后质押 | | 质押 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 第一大股 | 展期 数量 | 持股份 | 总股本 | 为限 | 充质 | 质押起始日 | 质押到期日 | 到期日 | 质权人 | 用途 | | | 东及其一 | （股） | 比例 | 比例 | 售股 | | | | | | | | | 致行动人 | | | | | 押 | | | | | | | 吴志泽 | | 1 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [4][10]. Core Views - The company experienced a 12% decline in revenue in the third quarter, with net profit under pressure due to increased sales expenses and a challenging market environment [1][3]. - The gross margin remained stable at 62.9%, with a slight year-on-year increase of 0.1 percentage points [1]. - The company is focusing on brand promotion and expanding its direct sales market, leading to a 5.1% increase in sales expenses to 4.5 billion yuan, resulting in a sales expense ratio increase of 6.8 percentage points to 42.3% [1][3]. - The forecast for net profit for 2024-2026 has been adjusted downwards, with expected figures of 5.6 billion, 6.3 billion, and 6.9 billion yuan respectively, reflecting a year-on-year change of -19.0%, +12.0%, and +9.2% [3][10]. Summary by Sections Financial Performance - In Q3, the company's revenue decreased by 11.7% year-on-year to 1.06 billion yuan, with a further decline compared to Q2 [1]. - The net profit for Q3 fell by 51.7% year-on-year to 70 million yuan, with a net profit margin of 6.7%, down 5.6 percentage points year-on-year [1][3]. - The company’s inventory increased by 8.7% year-on-year and 21.4% quarter-on-quarter to 1.3 billion yuan, influenced by sales pressure and preparations for seasonal promotions [2]. Brand Performance - Revenue for the main brands showed varied performance, with the flagship brand experiencing a decline of 3.7% in the first half of the year, while the Haggis brand showed a slight increase of 0.2% [2]. - The company anticipates continued pressure on revenue across all brands in Q3, with expectations for improvement in Q4 [2]. Profitability and Forecasts - The company has adjusted its revenue forecasts for 2024-2026 to 5.1 billion, 5.5 billion, and 5.9 billion yuan, reflecting a year-on-year change of -3.0%, +8.0%, and +7.7% [10]. - The sales expense ratio is expected to rise to 41.7%, 41.4%, and 41.2% for the years 2024-2026 due to high marketing expenditures [10]. - The net profit margin is projected to decrease to 11.1%, 11.5%, and 11.7% for the same period, primarily due to increased sales expenses [10].

Investment Rating - The report has adjusted the investment rating to "Accumulate" from a previous rating [4][6]. Core Views - The company is expected to restart growth in the coming year, with a focus on enhancing product strength, brand influence, channel expansion, and operational efficiency [2][3]. - The company reported a revenue of 1.1 billion in Q3 2024, a decrease of 12% year-on-year, and a net profit of 71 million, down 52% year-on-year [1]. - The macroeconomic environment and consumer sentiment have led to a revision of earnings forecasts, with expected EPS for 2024-2026 adjusted to 0.36, 0.47, and 0.59 respectively [2]. Financial Performance Summary - For the first three quarters of 2024, the company reported a total revenue of 3.5 billion, a decrease of 4% year-on-year, and a net profit of 420 million, down 25% year-on-year [1]. - The gross margin for the first three quarters of 2024 was 65.8%, an increase of 1.2 percentage points, while the net margin was 12.2%, a decrease of 3.5 percentage points [1]. - The financial data for 2022 to 2026 shows a projected revenue growth rate of 0.2% in 2024, followed by 9.4% in 2025 and 12.3% in 2026 [5][11]. Brand and Product Strategy - The core brand, Hazzys, is focusing on product innovation and sustainability, launching an eco-friendly sailing series using sustainable materials [3]. - The company is enhancing brand visibility through collaborations with celebrities and leveraging social media platforms to appeal to younger consumers [2]. Operational and Channel Development - The company is implementing a large store strategy and actively expanding quality franchisees to enhance channel penetration [3]. - A digital project is underway to improve operational efficiency by optimizing the connection between people, goods, and venues [3].

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 5.04 CNY based on a 14x PE valuation for 2024 [2][3][7]. Core Insights - The company reported Q3 2024 results that fell short of market expectations, with a revenue decline of 3.59% year-on-year to 3.536 billion CNY and a net profit drop of 25.2% to 415 million CNY. Q3 alone saw revenue and net profit decrease by 11.7% and 51.7% respectively, attributed to weak consumer spending [1][6]. - The report highlights that the sales expense ratio significantly increased, negatively impacting overall profitability. The gross margin improved slightly by 0.1 percentage points to 62.9%, while the net profit margin decreased by 5.6 percentage points to 6.7% [1][6]. - The company is expected to continue optimizing and expanding its Haji's brand stores, with potential improvements anticipated in October and beyond, alongside positive expectations for its online business during the Double Eleven shopping festival [1][6]. Financial Performance Summary - For the first three quarters of 2024, the company achieved operating income of 3.536 billion CNY, a year-on-year decrease of 3.59%, and a net profit attributable to shareholders of 415 million CNY, down 25.2% [1][5]. - The report projects adjusted earnings per share for 2024-2026 to be 0.36 CNY, 0.43 CNY, and 0.5 CNY respectively, down from previous estimates of 0.46 CNY, 0.54 CNY, and 0.61 CNY [2][7]. - The company’s inventory turnover days increased to 288 days, up by 29 days year-on-year, and cash flow from operating activities for the first three quarters was 140 million CNY, significantly down from 432 million CNY in the same period last year [1][5].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company reported a revenue of 3.536 billion yuan for the first three quarters of 2024, a year-on-year decrease of 3.59%, with a net profit attributable to shareholders of 415 million yuan, down 25.19% year-on-year [2] - In Q3 2024, the revenue decreased by 11.7% year-on-year, and the net profit dropped by 51.68% year-on-year, primarily due to weakened domestic consumption [2][3] - The gross margin in Q3 2024 slightly increased by 0.15 percentage points to 62.86%, while the expense ratio rose significantly, leading to a decline in net profit margin [3] - Inventory pressure increased with inventory at 1.305 billion yuan, up 8.67% year-on-year, and cash flow from operating activities decreased by 98% year-on-year [4] - The company plans to issue up to 286 million new shares to raise no more than 800 million yuan, with the controlling shareholder expressing confidence by fully subscribing to the offering [4] Financial Forecasts and Valuation - The revenue forecast for 2024 is adjusted to 5.066 billion yuan, with net profit forecasts revised down to 551 million yuan for 2024, 643 million yuan for 2025, and 729 million yuan for 2026 [4] - Corresponding P/E ratios are projected at 10, 9, and 8 times for the years 2024, 2025, and 2026 respectively [4]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price adjusted to 4.94 CNY, down from the previous 7.48 CNY [5][4]. Core Views - The company's Q3 performance was below expectations due to poor terminal sales influenced by weather factors and insufficient consumer confidence. However, there is an expectation for gradual improvement in sales as winter approaches [3][4]. - The company is positioned as a leading men's apparel brand, and despite the challenges, it is expected to maintain a solid market position [4]. Financial Summary - For the first three quarters of 2024, the company reported revenues of 3.54 billion CNY, a year-on-year decrease of 3.6%, and a net profit attributable to shareholders of 420 million CNY, down 25.2% year-on-year. Q3 alone saw revenues of 1.06 billion CNY, a decline of 11.7%, and a net profit of 70 million CNY, down 51.7% year-on-year [4][5]. - The report forecasts EPS for 2024-2026 to be adjusted to 0.38, 0.43, and 0.48 CNY respectively, down from previous estimates of 0.55, 0.63, and 0.70 CNY [4]. - The company’s gross margin in Q3 improved slightly by 0.2 percentage points year-on-year, despite a decline in revenue for several brands [4]. Market and Operational Insights - The company plans to focus on stabilizing channel profitability amidst weak consumer demand, with a steady pace of store openings expected in Q3 and Q4 [4]. - Recent temperature drops are anticipated to catalyze improved sales for the company's brands, particularly for the flagship brands [4].