Core Viewpoint - The company aims to implement a "10,000-store plan" as part of its 5.0 new retail strategy, targeting the establishment of 1,000 community lifestyle stores within the year and 10,000 stores in the next 1,000 days, with a strong belief in the feasibility of this goal [4][5]. Group 1: Store Expansion Strategy - The company has already signed contracts for 100 stores since the beginning of the year, with over half currently under renovation [4]. - The expected sales structure for the new stores includes 50% generating around 3 million yuan, 20% around 5 million yuan, and 20% between 7 to 8 million yuan, with approximately 100 stores expected to exceed 10 million yuan in sales [4]. - The company emphasizes a gradual approach to achieving the 10,000-store target, acknowledging that the final number may vary based on practical outcomes [5]. Group 2: Market Focus and Franchisee Support - The company is prioritizing the return on investment for franchisees and aims to tap into underdeveloped markets with significant fan bases [6]. - A recent example highlighted a franchisee in a lower-tier city achieving 300,000 yuan in sales within five months, showcasing the potential for quicker returns compared to first and second-tier cities [5][6]. Group 3: Retail Challenges and Solutions - The company recognizes the challenges in the apparel industry, such as customer acquisition, inventory management, and return rates, and believes its 5.0 new retail model addresses these issues effectively [7]. - By integrating online platforms like Douyin and Meituan, the company facilitates customer engagement and reduces return rates by allowing customers to redeem vouchers instead of returning products [7][8]. - The company aims to streamline inventory management by reducing circulation steps and directly delivering products from factories to stores, thereby minimizing costs and risks [8]. Group 4: Inventory Management and Product Strategy - The company targets a total product turnover of 50 days, with individual store turnover around 20 days, to maintain freshness and minimize risks for franchisees [8]. - The company plans to keep seasonal inventory below 10% and has established a management framework to ensure the availability of popular items while clearing out slow-moving stock [8]. - The company is also looking to expand its product categories beyond core offerings like jeans and down jackets, responding to franchisee requests for more variety [10]. Group 5: Company Transformation and Leadership - The company has undergone significant restructuring, moving from a scale of over 10 billion yuan to a few billion, shedding historical burdens to build a new operational model [10]. - The leadership emphasizes a commitment to progress and adaptability, focusing on practical execution rather than maintaining past prestige [10].

股票代码：002269 股票简称：美邦服饰 编号：2025-007 上海美特斯邦威服饰股份有限公司 关于回购股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承 担法律责任。 上海美特斯邦威服饰股份有限公司（以下简称"公司"）于 2024 年 6 月 30 日 召开第六届董事会第十二次会议，于 2024 年 07 月 18 日召开 2024 年第三次临时 股东大会，审议通过了《关于回购公司股份方案的议案》，同意公司使用控股股 东借款、自有资金不低于人民币 3,000.00 万元、不超过人民币 5,000.00 万元回购 股份，通过集中竞价交易方式以不超过 1.75 元/股的价格回购公司发行的人民币 普通股（A 股）股票，具体回购资金总额以及回购股份数量以回购期限届满或回 购实施完成时的实际情况为准，回购的股份用于实施股权激励或员工持股计划。 本次回购股份的实施期限为自股东大会审议通过本次回购股份方案之日起 6 个 月内。具体内容详见公司于 2024 年 7 月 1 日、2024 年 7 月 18 日、2024 年 8 月 7 ...

Core Viewpoint - Domestic fast fashion brands such as YISHION, TANGSHI, and MEITERSBANGWEI are experiencing a resurgence in popularity among young consumers, driven by improved product design and competitive pricing in the context of a mature domestic apparel supply chain [2][4][10]. Group 1: Brand Background and Market Position - YISHION was established in 1997, initially as a small casual wear manufacturer, and peaked with over 6,000 stores nationwide [5]. Currently, it has over 3,000 stores and targets young consumers aged 22-30 [6]. - TANGSHI, founded in 1995, has nearly 2,000 stores and has transitioned from casual wear to trendy fashion, achieving annual sales exceeding 3 billion yuan [7][6]. - MEITERSBANGWEI, once a fashion icon for the youth, had a peak revenue of over 9.9 billion yuan in 2011 but faced challenges due to the rise of e-commerce and international brands [8][10]. Group 2: Strategic Adjustments and Brand Revitalization - YISHION is expanding into first- and second-tier cities and has launched a high-end black label series targeting young consumers, with plans to open around 30 flagship stores by 2025 [11][14]. - TANGSHI is focusing on shopping center locations and has introduced a new brand image to appeal to younger audiences, with plans to enhance its retail presence [14][10]. - MEITERSBANGWEI is pivoting towards the outdoor apparel market, aiming to offer "affordable luxury" products and has introduced a new series of outdoor clothing [16][17]. Group 3: Financial Performance and Future Outlook - MEITERSBANGWEI reported a net profit of approximately 7.68 million yuan in the first half of 2024, a significant increase of 648.07% year-on-year, although it anticipates an overall loss for the year [16][17]. - The brands are undergoing various transformations to shed their previous low-cost image and adapt to changing consumer preferences, but the sustainability of their resurgence remains to be seen [18].

上海美特斯邦威服饰股份有限公司 关于回购股份的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承 担法律责任。 上海美特斯邦威服饰股份有限公司（以下简称"公司"）于 2024 年 6 月 30 日 召开第六届董事会第十二次会议，于 2024 年 07 月 18 日召开 2024 年第三次临时 股东大会，审议通过了《关于回购公司股份方案的议案》，同意公司使用控股股 东借款、自有资金不低于人民币 3,000.00 万元、不超过人民币 5,000.00 万元回购 股份，通过集中竞价交易方式以不超过 1.75 元/股的价格回购公司发行的人民币 普通股（A 股）股票，具体回购资金总额以及回购股份数量以回购期限届满或回 购实施完成时的实际情况为准，回购的股份用于实施股权激励或员工持股计划。 本次回购股份的实施期限为自股东大会审议通过本次回购股份方案之日起 6 个 月内。具体内容详见公司于 2024 年 7 月 1 日、2024 年 7 月 18 日、2024 年 8 月 7 日披露的《关于股份回购方案的公告》（公告编号：2024-037）、 ...

Financial Performance - The company expects a net loss of between 220 million yuan and 150 million yuan for the year 2024, representing a decline of 793% to 572.50% compared to the same period last year [3]. - The net profit attributable to shareholders, after deducting non-recurring gains and losses, is projected to be a loss of between 350 million yuan and 240 million yuan, a reduction in loss of 21.27% to 46.02% year-on-year [3]. - The basic earnings per share is expected to be a loss of between 0.09 yuan and 0.06 yuan per share, compared to a profit of 0.01 yuan per share in the previous year [3]. Business Operations - The company's gross margin for the main business decreased by approximately 31 percentage points in Q4 2024, leading to a significant increase in inventory impairment compared to previous quarters [6]. - In Q4 2024, the company sold approximately 1.4 million traditional leisure products, generating sales revenue of about 70 million yuan [5]. - The company reported a year-on-year decline of approximately 43 million yuan in the amount of goods taken by franchisees in Q4 2024 [6]. Retail Development - The number of new stores opened under the 5.0 new retail model increased month-on-month in Q4 2024, with growth rates of 25% and 310% in November and December, respectively [6]. - As of the end of December 2024, there are 38 stores under renovation and 25 stores under design for the 5.0 new retail model [7]. - The company has invested approximately 73 million yuan in related expenses for the 5.0 new retail development in Q4 2024 [6]. - The company aims to lay a solid foundation for future development despite the significant impact on its performance in 2024 due to the transition to the 5.0 new retail model [7].

| | 特定对象调研 ☐分析师会议 | | --- | --- | | 投资者关系活动 | ☐媒体采访 ☐业绩说明会 | | 类别 | ☐新闻发布会 ☐路演活动 | | | ☐现场参观 | | | ☐其他（请文字说明其他活动内容） | | | 中金公司、中信证券、广发证券、天风证券、华西证券、平安养老、上海人寿、 | | 参与单位名称及 | 富国基金、华宝基金、永赢基金、昀启投资、朱雀基金、交银基金、轩汉投资、 | | | 上海守正投资、中银基金、睿郡资产、财通自营、原点资产、华泰资管、东证 | | 人员姓名 | 融汇资管等28位分析师与投资者。 | | 时间 | 2025年01月09日 14:00-16:00 | | 地点 | 上海市浦东新区环桥路208号公司会议室 | | 上市公司接待人 | 董事长、总裁 周成建先生 | | 员姓名 | 董事会秘书 刘宽先生 | | | 管理层致辞： | | 投资者关系活动 | 过去两年以来，公司坚定所选道路，无论碰到多大挑战都坚持到底并在 | | | 2024年四季度取得了市场与消费者认可，市场关注度与门店生意都得到提高。 | | 主要内容介绍 | 2023年，公司尝 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、 股票交易异常波动情况 上海美特斯邦威服饰股份有限公司（以下简称"公司"或"本公司"）（证 券简称：美邦服饰，股票代码：002269）股票于 2025 年 1 月 2 日、1 月 3 日连 续两个交易日收盘价涨幅偏离值累计达到 20%以上，根据深圳证券交易所的有关 规定，属于股票交易异常波动的情形。 二、 公司关注并核实相关情况 针对股票异常波动，公司对有关事项进行了核查，就有关情况说明如下： 1、 经核查，公司前期披露的信息不存在需要更正、补充之处。 2、 近期公共传媒并未报道可能或已经对本公司股票交易价格产生较大影响 的未公开重大信息。 股票代码：002269 股票简称：美邦服饰 编号：2025-004 上海美特斯邦威服饰股份有限公司 股票交易异常波动公告 5、 经核实，公司控股股东在本公司股票交易异常波动期间未买卖公司股票。 6、 董事会未获悉本公司有根据深交所《股票上市规则》等有关规定应予以 披露而未披露的、对本公司股票及其衍生品种交易价格产生较大影响的信息。 三、 是否存在应披露而未披露信息的说明 ...

股票代码：002269 股票简称：美邦服饰 编号：2025-003 上海美特斯邦威服饰股份有限公司 关于回购股份进展暨首次回购公司股份的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误 导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承 担法律责任。 上海美特斯邦威服饰股份有限公司（以下简称"公司"）于 2024 年 6 月 30 日 召开第六届董事会第十二次会议，于 2024 年 7 月 18 日召开 2024 年第三次临时 股东大会，审议通过了《关于回购公司股份方案的议案》，同意公司使用控股股 东借款、自有资金不低于人民币 3,000.00 万元、不超过人民币 5,000.00 万元回购 股份，通过集中竞价交易方式以不超过 1.75 元/股的价格回购公司发行的人民币 普通股（A 股）股票，具体回购资金总额以及回购股份数量以回购期限届满或回 购实施完成时的实际情况为准，回购的股份用于实施股权激励或员工持股计划。 本次回购股份的实施期限为自股东大会审议通过本次回购股份方案之日起 6 个 月内。具体内容详见公司于 2024 年 7 月 1 日、2024 年 7 月 18 日、2024 ...

股票代码：002269 股票简称：美邦服饰 编号：2025-002 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 一、董事会会议召开情况 上海美特斯邦威服饰股份有限公司（以下简称"公司"） 日前以书面和电子 邮件方式向董事发出第六届董事会第十六次会议通知，会议于 2025 年 1 月 2 日 在上海市浦东新区环桥路 208 号公司会议室召开。本次会议应出席董事 6 人，实 际出席董事 6 人，周成建、林晓东、游君源、张纯、袁敏、陆敬波参加了本次会 议。会议由董事周成建先生主持，会议召开符合《公司法》及《公司章程》的有 关规定。 本议案在提交董事会前已经独立董事专门会议审议通过。 上海美特斯邦威服饰股份有限公司 三、备查文件 第六届董事会第十六次会议决议公告 1、公司第六届董事会第十六次会议决议 二、董事会会议审议情况 1、审议通过《关于调整股份回购价格上限及延长实施期限的议案》 会议以 6 票同意，0 票反对，0 票弃权，审议通过了公司《关于调整股份回 购价格上限及延长实施期限的议案》，具体内容详情见公司同时披露的《关 ...