Group 1 - The company expects a negative net profit for the fiscal year 2025, covering the period from January 1, 2025, to December 31, 2025 [1] - The financial data related to the earnings forecast has not been audited by the accounting firm, but there are no disagreements between the company and the accounting firm regarding the earnings forecast [1][2] Group 2 - The company is actively adjusting its product strategy and working to reduce historical inventory from 2024 and earlier, which has impacted revenue and gross margin during the reporting period [2] - There has been an increase in impairment losses recognized during the reporting period due to accounting standards and a cautious approach [3] - The company experienced a significant decrease in asset disposal gains compared to the same period last year, where substantial gains were realized from property disposals [3]

Core Viewpoint - Meibang Apparel is facing significant financial challenges, with projected losses for 2025 expected to be between 230 million to 300 million yuan, marking a decline of 53.55% to 17.72% compared to the previous year [1] Group 1: Financial Performance - The company reported a continuous decline in performance, with a loss of 195 million yuan in 2024 and a cumulative net profit loss of nearly 3.2 billion yuan over the past seven years under the leadership of Hu Jiajia [2][1] - The company has been actively adjusting its product strategy and increasing promotional discounts to manage historical inventory, which has negatively impacted revenue and gross margin [1] - The company’s inventory structure has improved significantly by year-end, laying a foundation for operational goals in 2026 [1] Group 2: Leadership Changes - Hu Jiajia resigned as chairman in January 2024, leading to the return of Zhou Chengjian as chairman, who has since attempted various strategies to revitalize the company [2] - Zhou Chengjian, at 60 years old, has engaged in unconventional marketing tactics, such as performing a group dance in a live stream to attract attention [2] Group 3: Shareholder Actions - On January 7, 2026, the controlling shareholder, Shanghai Huafu Investment Co., Ltd., signed a share transfer agreement to sell 197 million shares, representing 7.90% of the total share capital, at a price of 1.76 yuan per share, totaling 347 million yuan [4] - Following the share transfer, Huafu Investment's holding will decrease to 25.74%, while Hu Jiajia will hold 225 million shares, accounting for 9.01% of the total shares [4]

Core Viewpoint - Meibang Fashion (002269.SZ) forecasts a net loss of 230 million to 300 million yuan for the fiscal year 2025, compared to a loss of 195 million yuan in the same period last year [1] Financial Performance - The net profit attributable to shareholders is expected to be a loss of 230 million to 300 million yuan, with a previous year's loss of 195 million yuan [1] - The net profit after deducting non-recurring gains and losses is also projected to be a loss of 230 million to 300 million yuan, compared to a loss of 295 million yuan in the previous year [1] Strategic Adjustments - The company is actively adjusting its product strategy and working to clear historical inventory from 2024 and earlier, which has impacted revenue scale and gross margin during the reporting period [1] - Increased promotional discounts have been implemented to help manage inventory, affecting the company's revenue and gross margin [1] Inventory Management - The company has seen a significant improvement in the age structure of its inventory by the end of the year, laying a foundation for achieving operational goals and strategies for 2026 [1]

Core Viewpoint - The company expects a net profit loss attributable to shareholders of 230 million to 300 million yuan for the fiscal year 2025, indicating ongoing financial challenges [1] Group 1: Financial Performance - The company is actively adjusting its product strategy and increasing promotional discounts to address historical inventory from 2024 and earlier, which has negatively impacted revenue and gross margin during the reporting period [1] - The year-end inventory age structure has significantly improved, laying a foundation for achieving operational goals and strategies in 2026 [1]

Core Viewpoint - The company, Meibang Apparel, forecasts a significant decline in net profit for the fiscal year 2025, projecting a loss between 230 million to 300 million yuan, representing a year-on-year decrease of 17.72% to 53.55% [1] Financial Performance - The expected net profit attributable to shareholders for 2025 is projected to be between -230 million yuan and -300 million yuan, with a similar range for net profit after excluding non-recurring gains and losses [1] - The company anticipates a substantial reduction in revenue and gross margin due to ongoing product strategy adjustments and increased promotional discounts aimed at clearing historical inventory from 2024 and earlier [1] Inventory Management - The company has made significant improvements in the age structure of its inventory by the end of the reporting period, which lays a foundation for achieving operational goals and strategies in 2026 [1] Impairment Losses - There has been an increase in impairment losses recognized during the reporting period, driven by accounting standards and a cautious approach [1] Asset Disposal - The company experienced a substantial decrease in asset disposal gains compared to the previous year, where significant income was generated from property disposals [1]

Core Viewpoint - The company, Meibang Fashion, anticipates a negative net profit for the fiscal year 2025, projecting a loss between 300 million to 230 million yuan, compared to a loss of 195 million yuan in the same period last year [1] Group 1 - The company is actively adjusting its product strategy and working to clear historical inventory from 2024 and earlier, which has impacted revenue scale and gross margin during the reporting period [1] - The company has increased promotional discounts, which has also contributed to the decline in revenue and gross margin [1] - There has been a significant improvement in the age structure of the company's year-end inventory, laying a foundation for achieving operational goals and strategies for 2026 [1]

证券代码：002269 证券简称：美邦服饰 公告编号：2026-003 上海美特斯邦威服饰股份有限公司 2025 年度业绩预告 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、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 本期业绩预告相关的财务数据未经会计师事务所审计。公司已就本次业绩预告有关事 项与会计师事务所进行预沟通，公司与会计师事务所在业绩预告方面不存在分歧。 三、业绩变动原因说明 1、报告期内公司持续推进产品策略调整，积极消化 2024 年及之前的历史库存商品， 加大促销折扣力度，一定程度上影响了报告期内公司营收规模及毛利率。但公司年末存货 的库龄结构有了显著改善，为公司 2026 年度经营目标与策略的落地奠定了基础。 2、基于会计准则要求及谨慎性考虑，报告期内公司计提的减值损失有所增加。 3、上年同期公司处置物业产生较大资产处置收益，报告期内公司同类处置收益大幅 减少。 四、风险提示 2、业绩预告情况：预计净利润为负值 （1）以区间数进行业绩预告的 单位：万元 | 项 | 目 | 本报告 ...

Group 1 - The average stock price of A-shares is 14.84 yuan, with 29 stocks priced below 2 yuan, the lowest being *ST Aowei at 0.73 yuan [1] - Among the low-priced stocks, 8 are ST stocks, accounting for 27.59% of the total [1] - In terms of market performance, 26 of the low-priced stocks increased in price, with *ST Changyao, *ST Lifang, and Yabo shares leading the gains at 19.48%, 13.91%, and 10.06% respectively [1] Group 2 - The stock price rankings of low-priced stocks show *ST Aowei at 0.73 yuan with a daily decline of 5.19%, while *ST Changyao and *ST Lifang have daily increases of 19.48% and 13.91% respectively [1] - The trading volume for *ST Changyao is notable with a turnover rate of 19.92%, while *ST Lifang has a turnover rate of 26.78% [1] - Other low-priced stocks include *ST Jinke at 1.49 yuan and Chongqing Steel at 1.54 yuan, with respective daily changes of 0.68% and 2.67% [1]

Core Viewpoint - The decline of Metersbonwe is not just a corporate tragedy but reflects the broader challenges faced by the first generation of private entrepreneurs in China during power transitions [6][11]. Group 1: Company Performance and Financials - In 2011, Metersbonwe reached its peak with revenue of 9.945 billion and a net profit of 1.206 billion, operating 5,220 stores [16][22]. - By 2023, the company's revenue plummeted to 1.356 billion, a 79% decrease from 2016 when it was 6.519 billion, and a staggering 93% drop from its peak in 2011 [24][22]. - Over the past seven years, Metersbonwe incurred cumulative losses of nearly 3.2 billion, depleting the wealth built by founder Zhou Chengjian [14][24]. Group 2: Leadership Transition and Challenges - Zhou Chengjian stepped back in 2016 due to regulatory pressures, leading to his daughter Hu Jiajia taking over as chairman at the age of 30 [18][19]. - Hu Jiajia's tenure saw a series of operational missteps, including a focus on aesthetics over inventory management, resulting in inventory turnover days increasing from 182 to approximately 290 [34][33]. - The company failed to adapt its business model, continuing to rely on traditional ordering methods while competitors like SHEIN embraced rapid response strategies [35][50]. Group 3: Governance Issues - The dual leadership structure created confusion, with Zhou Chengjian's influence lingering despite Hu Jiajia's official role, leading to strategic dissonance within the company [42][44]. - The lack of clear authority and conflicting visions between the two generations resulted in operational inefficiencies and a failure to capitalize on market opportunities [45][49]. Group 4: Market Position and Competitive Landscape - Metersbonwe's market position deteriorated significantly compared to competitors like Semir, which successfully transitioned to a non-family-centric model and diversified its brand portfolio [52][58]. - While Semir maintained stable revenues between 13 billion and 15 billion, Metersbonwe's revenue fell to under 700 million by 2024, highlighting a stark contrast in business resilience [58][64]. Group 5: Asset Liquidation and Future Outlook - In 2023 and 2024, Metersbonwe began selling assets, including stakes in banks and prime real estate, totaling nearly 1.3 billion, to cover debts and operational costs [62][63]. - The company's stock price has plummeted from around 14 yuan to just over 1 yuan, reflecting a nearly 90% loss in market value [64][65]. - The leadership change in early 2024, with Hu Jiajia resigning, marks a significant shift, but the company faces an uphill battle to regain market trust and operational stability [65][66].

股票代码：002269 股票简称：美邦服饰 编号：2026-002 上海美特斯邦威服饰股份有限公司 一、 会议召开和出席情况： 1、召开时间： 现场会议：2026 年 01 月 21 日（星期三）下午 2:30 2026 年第一次临时股东会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 重要提示： 1、本次股东会没有否决或修改提案的情况； 2、本次股东会不涉及变更以往股东会已通过的决议。 2、网络投票： （1） 通过深圳证券交易所交易系统进行投票的时间为：2026 年 01 月 21 日上午 9：15-9：25,9：30-11：30，下午 13：00-15：00； （2） 通过深圳证券交易所互联网投票系统进行投票的时间为：2026 年 01 月 21 日 9：15 至下午 15：00 期间的任意时间。 3、现场会议召开地点：上海市浦东新区环桥路 208 号公司会议室 4、会议召开方式：现场记名投票与网络投票相结合 5、召集人：公司董事会 6、主持人：周成建先生 7、本次股东会的召集、召开程序符合《中华人民共和国公司法》等有关法 律法规的规定以及《上海 ...