关于 2025 年前三季度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 根据《深圳证券交易所上市公司规范运作指引》等有关规定，上海美特斯邦 威服饰股份有限公司（以下简称"公司"）现将公司 2025 年前三季度计提资产减 值准备的情况公告如下： 一、本次计提资产减值准备情况概述 1、本次计提资产减值准备的原因 为真实反映公司截止 2025 年 9 月 30 日的财务状况、资产价值及经营成果， 公司基于谨慎性原则，对公司及下属子公司的各类资产进行全面检查和减值测试， 依据《企业会计准则》、《深圳证券交易所上市公司规范运作指引》及公司会计政 策等相关制度的规定，拟对公司截至 2025 年 9 月 30 日合并会计报表范围内有关 资产计提相应的减值准备。 股票代码：002269 股票简称：美邦服饰 编号：2025-040 上海美特斯邦威服饰股份有限公司 本次计提资产减值准备的范围主要为应收账款及存货。计提各项资产减值准 备合计 2,881 万元，考虑所得税影响后，将减少 2025 年前三季度末归属于母公 司所有者的净利润 2,881 万元，相 ...

股票代码：002269 股票简称：美邦服饰 编号：2025-042 上海美特斯邦威服饰股份有限公司 关于收到债务豁免函暨关联交易的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、债务豁免概述 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"）日前收 到公司控股股东上海华服投资有限公司（以下简称"华服投资"）《债务豁免函》。 华服投资为支持公司发展，华服投资决定豁免公司应偿还华服投资的 200,000,000 元(大写：人民币贰亿元整)借款本金。剩余未豁免部分本金及利息， 仍按照双方签署的《财务资助协议》执行。 本次债务豁免不构成《上市公司重大资产重组管理办法》规定的重大资产重 组，无需经过有关部门批准。 二、关联方基本情况 （一）上海华服投资有限公司 1、 概况 关联方名称：上海华服投资有限公司 成立时间：2007年9月6日 法定代表人：周成建 1 营业期限：2007-09-06 至 无固定期限 经营范围：实业投资,投资管理,企业管理咨询,投资信息咨询,企业策划,景 观设计。 2、 关联关系 截至本公告披露日，上海华服投资有限公司持有本公 ...

股票代码：002269 股票简称：美邦服饰 编号：2025-041 上海美特斯邦威服饰股份有限公司 第六届董事会第二十次会议决议公告 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、准确性和完整性承担个别及连带责任。 1 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二十次会议通知，会议于 2025 年 10 月 30 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 7 人， 实际出席董事 7 人，周成建、游君源、庄欢跃、陈磊、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。 二、董事会会议审议情况 1. 审议通过《关于 2025 年三季度报告的议案》 会议以 7 票同意，0 票反对，0 票弃权，审议通过了公司《关于 2025 年三季 度报告的议案》，该议案经公司董事会审计委员会审议通过，具体内容详情请见 同时披露的公司 2025 年三季度报告。 2. 审议通过《关于 2025 年前三季度计提资产减值准备的议案》 会 ...

Financial Performance - The company's revenue for Q3 2025 was ¥102,219,074.44, representing a decrease of 7.67% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of ¥78,914,746.33, a decline of 216.16% year-on-year[5]. - The basic and diluted earnings per share were both -¥0.03, reflecting a decrease of 200.00% compared to the previous year[5]. - Total operating revenue for the current period is ¥329,163,392.04, a decrease of 37.3% compared to ¥525,070,435.65 in the previous period[18]. - Net profit for the current period is -¥68,984,457.59, compared to a net profit of ¥51,820,575.97 in the previous period, indicating a significant decline[19]. - The total comprehensive income for the current period is -¥62,184,886.08, compared to ¥55,353,481.43 in the previous period, indicating a significant decline[20]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,860,550,113.83, down 1.99% from the end of the previous year[5]. - Total current assets of CNY 673,314,797.01, an increase from CNY 653,396,197.09 at the beginning of the period, reflecting a growth of approximately 9.4%[15]. - Total liabilities increased to CNY 1,408,989,692.76 from CNY 1,313,207,199.91, marking an increase of approximately 7.3%[16]. - The total liabilities increased to ¥1,672,577,848.83 from ¥1,618,184,973.44, reflecting a rise of 3.4%[17]. - The total equity attributable to shareholders decreased to ¥187,972,265.00 from ¥280,227,977.08, a decline of 32.8%[17]. Cash Flow - The company's cash flow from operating activities showed a net outflow of ¥153,336,479.17, an increase of 38.63% year-to-date[5]. - Cash flow from operating activities resulted in a net outflow of -¥153,336,479.17, an improvement from -¥249,863,506.55 in the previous period[20]. - The net cash inflow from investment activities was 368,257,578.07, with cash outflow totaling 13,767,872.16, resulting in a net cash flow of -13,767,872.16[21]. - The total cash inflow from financing activities was 718,328,090.11, while cash outflow amounted to 580,035,028.51, leading to a net cash flow of 138,293,061.60[21]. - The ending balance of cash and cash equivalents was 29,458,893.59, down from 58,270,183.32 at the beginning of the period[21]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 105,852[12]. - The largest shareholder, Shanghai Huafu Investment Co., Ltd., holds a 33.43% stake in the company[12]. Research and Development - Research and development expenses decreased by 46.67% to ¥11,158,560.70, primarily due to reduced labor costs[10]. - Research and development expenses for the current period were ¥11,158,560.70, down 46.8% from ¥20,924,794.26 in the previous period[18]. Other Financial Metrics - The company experienced a 37.31% decline in operating income year-to-date, primarily due to property sales in the previous year[10]. - The company reported a significant decrease in asset disposal income, down 96.97% to ¥2,055,957.02, compared to the previous year[10]. - Other comprehensive income after tax for the current period is ¥6,799,571.51, an increase from ¥3,532,905.46 in the previous period[19]. - The company did not undergo an audit for the third quarter financial report[22].

Core Insights - The article discusses the transformation of Metersbonwe under the leadership of founder Zhou Chengjian, who emphasizes a "zero-based" mindset to reconnect with consumers and revitalize the brand [1][2][25] - The company aims to regain its position in the Asian market and enhance its brand appeal among younger consumers while maintaining its historical identity [2][25] Group 1: Brand Transformation - Metersbonwe is undergoing a comprehensive transformation, focusing on product line expansion and a new retail model that integrates online and offline channels [1][2] - The brand is returning to its roots, emphasizing its "academy style" while adapting to modern trends and consumer preferences [5][25] - Zhou Chengjian has personally engaged in market research, visiting various cities to understand consumer needs and preferences [1][5] Group 2: Market Strategy - The company is adopting a multi-tiered management approach, with direct sales in first-tier cities and a franchise model in lower-tier cities [12][13] - Metersbonwe plans to establish "next main stores" in key shopping areas to enhance brand visibility and consumer engagement [12][25] - The brand aims to balance its physical store presence with online strategies, ensuring a seamless shopping experience for consumers [14][25] Group 3: Product Development - The new product strategy focuses on inclusivity, offering styles that cater to various body types, age groups, and occasions [6][10] - Metersbonwe seeks to differentiate itself by providing versatile clothing that allows for cross-style and cross-scenario combinations [9][10] - The brand is committed to evolving its product offerings while retaining its core identity, such as the classic academy style [25][26] Group 4: Brand Communication - Zhou Chengjian has taken an active role in brand communication, including live streaming to share the company's transformation journey with consumers [16][17] - The brand aims to create a narrative that resonates with consumers, focusing on storytelling rather than merely promoting products [16][17] - Metersbonwe recognizes the importance of professional marketing teams to effectively convey its brand message in the future [17][21]

Market Overview - The apparel and home textile sector increased by 0.03% compared to the previous trading day, with Luolai Life leading the gains [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Top Performers - Luolai Life (002293) closed at 9.40, up 5.86% with a trading volume of 356,400 shares and a turnover of 339 million yuan [1] - Shengtai Group (605138) closed at 7.91, up 4.91% with a trading volume of 165,300 shares and a turnover of 132 million yuan [1] - Xinhe Shares (003016) closed at 8.84, up 4.49% with a trading volume of 289,500 shares and a turnover of 254 million yuan [1] Underperformers - ST Erya (600107) closed at 8.77, down 4.98% with a trading volume of 160,200 shares and a turnover of 144 million yuan [2] - Ribo Fashion (603196) closed at 23.12, down 4.93% with a trading volume of 60,300 shares and a turnover of 141 million yuan [2] - Anzheng Fashion (603839) closed at 8.91, down 3.47% with a trading volume of 117,000 shares and a turnover of 106 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 147 million yuan from institutional investors, while retail investors saw a net inflow of 125 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2][3] Individual Stock Capital Flow - Wanlima (300591) had a net inflow of 29.27 million yuan from institutional investors, while it saw a net outflow of 2.39 million yuan from retail investors [3] - Shengtai Group (605138) experienced a net inflow of 15.85 million yuan from institutional investors, but a net outflow of 23.59 million yuan from retail investors [3] - Seven Wolves (002029) had a net inflow of 18.53 million yuan from institutional investors, with a net outflow of 1.03 million yuan from retail investors [3]

Market Overview - The apparel and home textile sector increased by 0.08% compared to the previous trading day, with Zhongyin Fashion leading the gains [1] - The Shanghai Composite Index closed at 3913.76, down 0.07%, while the Shenzhen Component Index closed at 12996.61, down 0.62% [1] Stock Performance - Zhongyin Fashion (300901) closed at 18.42, up 5.38% with a trading volume of 109,100 shares and a turnover of 200 million yuan [1] - Langsha Co., Ltd. (600137) closed at 20.45, up 3.39% with a trading volume of 61,800 shares and a turnover of 125 million yuan [1] - Other notable performers include: - Bingshi Co., Ltd. (001209) up 3.14% - Jihua Group (601718) up 2.93% - Tianchuang Fashion (603608) up 2.52% [1] Capital Flow - The apparel and home textile sector experienced a net outflow of 299 million yuan from institutional investors, while retail investors saw a net inflow of 306 million yuan [2] - The detailed capital flow for selected stocks shows: - Meibang Apparel (002269) had a net inflow of 20.42 million yuan from institutional investors [3] - Langsha Co., Ltd. (600137) had a net inflow of 9.46 million yuan from institutional investors [3] - Other stocks like Tanshijia (300005) and Jinhao Group (603518) also showed varying net inflows and outflows [3]

Retail Industry Overview - The total retail sales of consumer goods in China reached 24.55 trillion yuan in the first half of the year, with a year-on-year growth of 5.0%, slightly up from 3.7% in the same period last year [2] - Online retail sales amounted to 7.43 trillion yuan, growing by 8.5%, while offline retail sales were 17.12 trillion yuan, with a growth of 3.75%, indicating a shift in consumer shopping habits towards online platforms [2][5] Store Closures - In the first half of 2025, at least 1.71 million stores closed across various sectors, including major brands like Walmart, Starbucks, and Haidilao [2] - The supermarket sector saw at least 720 store closures, including national and regional brands such as Yonghui Supermarket and Hema [3][4] - The restaurant industry faced nearly 10,000 closures, while the apparel sector saw around 4,500 stores shut down [2][6] Supermarket Sector Challenges - Traditional supermarkets are experiencing accelerated closures due to increased competition from e-commerce and the rise of instant retail, which has grown from 36.6 billion yuan in 2017 to 650 billion yuan in 2023 [6] - Many supermarkets are closing underperforming stores and focusing on online business to adapt to changing consumer preferences [6][7] Department Store and Shopping Center Decline - The department store sector reported a year-on-year growth of only 1.2%, with at least 23 department stores and shopping centers closing in the first half of 2025 [8][9] - The decline is attributed to outdated business models and a lack of unique product offerings, leading to decreased foot traffic [11][12] Tea and Coffee Shop Closures - The tea and coffee sectors saw significant closures, with at least 6,673 tea and coffee shops shutting down in the first half of 2025 [13] - Brands like Heytea and Nayuki faced substantial store reductions, reflecting a market consolidation where only strong brands survive [15][20] Apparel Industry Adjustments - The apparel sector experienced a 3.1% year-on-year growth, with at least 4,563 clothing stores closing, including major brands like Semir and GU [21][24] - The closures are driven by high inventory levels, brand aging, and a shift towards larger store formats, which require higher operational efficiency [24][25][27] Cinema Industry Struggles - The cinema industry is facing a crisis, with a high vacancy rate of 30-40% and at least 38 cinemas closing in the first half of 2025 [28][30] - Factors contributing to this decline include high fixed costs, reliance on blockbuster films, and competition from streaming services [30][31][32] Other Industries - Various other sectors, including pet care, home improvement, and education, also experienced closures, indicating a broader trend of market contraction [34]

Market Overview - The apparel and home textile sector increased by 0.12% on September 29, with Aimer leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Top Gainers - The following companies showed significant gains: - Yuancao Co., Ltd. (603511) closed at 16.43, up 3.33% with a trading volume of 52,700 shares and a turnover of 85.94 million yuan [1] - Explorer (300005) closed at 8.82, up 3.28% with a trading volume of 295,100 shares and a turnover of 256 million yuan [1] - Bingshi Co., Ltd. (001209) closed at 20.83, up 3.12% with a trading volume of 204,900 shares and a turnover of 444 million yuan [1] Top Losers - The following companies experienced notable declines: - Hongdou Co., Ltd. (600400) closed at 3.04, down 6.46% with a trading volume of 2,063,000 shares and a turnover of 629 million yuan [2] - Taimusi (001234) closed at 27.43, down 5.35% with a trading volume of 106,200 shares and a turnover of 29.4 million yuan [2] - Seven Wolves (002029) closed at 7.97, down 5.34% with a trading volume of 686,600 shares and a turnover of 552 million yuan [2] Capital Flow - The apparel and home textile sector saw a net inflow of 2.49 million yuan from institutional investors, while retail investors contributed a net inflow of 74.56 million yuan [2][3] - The sector experienced a net outflow of 77.04 million yuan from speculative funds [2][3] Individual Stock Capital Flow - Meibang Apparel (002269) had a net outflow of 51.37 million yuan from institutional investors, with a 12.65% share of the total [3] - Semir Apparel (002563) saw a net inflow of 30.10 million yuan from institutional investors, representing 10.42% of the total [3] - Hongdou Co., Ltd. (600400) had a net inflow of 13.71 million yuan from institutional investors, accounting for 2.18% of the total [3]

Core Viewpoint - The article discusses the recent efforts of Metersbonwe and its founder Zhou Chengjian to revitalize the brand through innovative marketing strategies, including live streaming and a new retail model, amidst ongoing financial struggles and industry challenges [1][12][26]. Company Overview - Zhou Chengjian, the founder of Metersbonwe, returned to the company in January 2024 after a seven-year hiatus, aiming to reverse the brand's declining fortunes [3][12]. - Metersbonwe has faced significant financial difficulties, with a cumulative loss of nearly 3.2 billion yuan since 2015, and only one year of positive net profit during that period [3][12]. Marketing and Sales Strategies - The brand's recent live streaming event on Douyin attracted over 200,000 viewers and resulted in a stock price surge, indicating a positive market response to Zhou's return [3][12]. - Metersbonwe has implemented a "5.0 new retail model," integrating online and offline sales through promotional vouchers and live streaming, which has generated over 100 million yuan in sales within 40 days of its launch [11][12]. Financial Performance - Despite the new strategies, Metersbonwe's financial performance remains concerning, with a 49.79% year-on-year decline in total revenue for 2024, amounting to 681 million yuan, and a net loss of 195 million yuan [12][16]. - In the first half of 2025, the company reported a revenue of 227 million yuan, down 45.23% from the previous year, and a net profit of 993,000 yuan, a decrease of 87.07% [12][16]. Industry Context - Metersbonwe is not alone in its struggles; other brands like Semir and Yishion are also facing challenges in adapting to changing consumer preferences and market dynamics [17][21]. - The article highlights the broader trend of traditional casual wear brands grappling with the need for transformation in response to evolving consumer behavior and competition from fast fashion and e-commerce [26].