Core Viewpoint - The company reported a significant decline in revenue and incurred losses in the third quarter of 2025, but is focusing on strategic adjustments and new business lines to drive future growth [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 2.613 billion yuan, a year-on-year decrease of 34.65%, and a net loss of 415 million yuan [1]. - In the third quarter alone, revenue was 717 million yuan, down 29.8% year-on-year, with a net loss of 162 million yuan, which is a 14.61% reduction in losses compared to the previous year [1]. Cost Management - The company experienced a reduction in operating costs, management expenses, and other investments, with operating costs decreasing by 34.59% and management expenses down by 34.42% [1]. Strategic Initiatives - The company is actively pursuing strategic adjustments and deepening its business focus, particularly in the incubation of new consumer brands and the transformation towards content-driven live streaming [1]. - The new consumer brand "Domyway" has achieved over 300 million yuan in sales and over 1.5 billion online exposures since its launch [1]. - The company is also diversifying its brand matrix, with the new brand "Jianqian" achieving over 6 million yuan in GMV during its first live broadcast [2]. Future Growth Prospects - Starting in 2024, the company plans to significantly expand its innovative business, with a focus on projects that have shown consistent profitability, such as live e-commerce [2]. - The company is in discussions with several quality ODM factories, which may become an important second growth curve for the business [2].

广东遥望科技集团股份有限公司（以下简称"公司"）第五届监事会第三十 四次会议于 2025 年 10 月 29 日上午 11:30，在广东省佛山市南海区桂城街道灯湖 东路 8 号华亚金融中心 29 楼公司会议室以现场会议形式召开。会议通知于 2025 年 10 月 17 日以电子邮件的形式发出，会议由监事会主席朱五洲先生主持，应出 席监事 3 人，实际出席监事 3 人。本次会议符合《公司法》及《公司章程》的有 关规定，经与会监事认真审议，形成以下决议： 一、会议以 3 票同意，0 票反对，0 票弃权，审议通过了《公司 2025 年第 三季度报告》； 经核查，监事会认为：董事会编制和审核公司 2025 年第三季度报告的程序 符合法律、法规及中国证券监督管理委员会相关规定。报告内容真实、准确、完 整地反映了上市公司的实际经营情况，不存在任何虚假记载、误导性陈述或重大 遗漏。 证券代码：002291 证券简称：遥望科技 公告编号：2025-080 广东遥望科技集团股份有限公司 第五届监事会第三十四次会议决议公告 本公司及监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。 特此公告 ...

Financial Performance - The company's revenue for Q3 2025 was ¥716,848,405.60, representing a decrease of 29.79% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥161,822,499.69, a decline of 14.61% year-on-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥160,097,212.64, down 15.89% from the previous year[5]. - Operating revenue decreased by 34.65% to ¥2,613,081,861.45 from ¥3,998,539,766.34 due to the closure of unprofitable IPs and offline stores[9]. - Operating costs fell by 34.59% to ¥2,423,579,322.66, reflecting a decrease in revenue[9]. - Net profit for the period was ¥-419,528,469.53, compared to ¥-416,511,932.47 in the previous period, indicating a slight increase in losses[21]. - Basic and diluted earnings per share were both -¥0.1723, reflecting a 15.37% increase in loss compared to the same period last year[5]. Assets and Liabilities - The total assets at the end of the reporting period were ¥4,970,543,986.42, a decrease of 11.77% from the end of the previous year[5]. - The equity attributable to shareholders was ¥3,018,111,213.75, down 12.08% compared to the end of the previous year[5]. - The company's total liabilities decreased from 2,185.84 million yuan to 1,939.71 million yuan during the same period[17]. - The company's total assets and equity decreased from ¥5,633,701,307.67 to ¥4,970,543,986.42, reflecting a decline of approximately 11.8%[18]. Cash Flow - The cash flow from operating activities showed a net outflow of -¥53,635,844.65, a significant decline of 158.49% year-to-date[5]. - Cash flow from financing activities decreased by 70.52% to -¥68,385,822.02, mainly due to reduced debt repayments[10]. - The net cash flow from operating activities was ¥-53,635,844.65, down from ¥91,706,336.42 in the previous period[22]. - The net increase in cash and cash equivalents for the period was -$194,877,477.72, with an ending balance of $177,617,008.32[23]. Investments and Expenses - R&D expenses decreased by 34.82% to ¥45,687,065.25, attributed to a reduction in R&D projects[9]. - Investment income turned negative at -¥14,961,165.70, a decrease of 544.59% compared to the previous year[9]. - Other investments saw a drastic reduction of 83.26% to ¥6,185,000.56, primarily due to decreased government subsidies[9]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 97,455, with no preferred shareholders[11]. - The largest shareholder, LYONE GROUP PTE. LTD., holds 7.77% of shares, totaling 72,691,390[11]. Corporate Actions - The company changed its name from "Foshan Yaowang Technology Co., Ltd." to "Guangdong Yaowang Technology Group Co., Ltd." to better reflect its business development and regional expansion[13]. - The company completed the cancellation of 1,459,498 stock options from the 2021 stock option and restricted stock incentive plan due to 107 incentive objects not exercising their options within the designated period[12]. - The company plans to cancel a total of 18,910,120 stock options from the 2023 stock option incentive plan, as 177 incentive objects did not exercise their options and 43 left the company[13]. - The company established a wholly-owned subsidiary, Hangzhou Yaowang Innovation Network Technology Co., Ltd., focusing on virtual reality equipment manufacturing and digital cultural creative software development[15]. Other Financial Information - Tax expenses increased significantly, with a change of 115.73% to ¥5,538,173.72, due to profitability in some subsidiaries[9]. - The company reported a significant increase in cash received from operating activities, totaling ¥4,033,705,544.80, compared to ¥5,219,596,223.01 in the previous period[22]. - The third quarter financial report was not audited[24]. - The company will implement new accounting standards starting from 2025[24].

证券代码：002291 证券简称：遥望科技 公告编号：2025-078 广东遥望科技集团股份有限公司 第六届董事会第八次会议决议公告 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。 广东遥望科技集团股份有限公司（以下简称"公司"）第六届董事会第八次 会议于 2025 年 10 月 29 日上午 11:00，在佛山市南海区桂城街道灯湖东路 8 号 华亚金融中心 29 楼公司会议室，以现场会议和通讯方式相结合召开。本次董事 会会议通知于 2025 年 10 月 17 日以电子邮件的形式发出，会议由公司董事长谢 如栋先生主持，应参加董事 7 人，实际参加董事 7 人。本次会议符合《公司法》 及《公司章程》的有关规定，经与会董事认真审议，形成以下决议： 一、会议以 7 票同意，0 票反对，0 票弃权，审议通过了《公司 2025 年第三 季度报告》； 本议案已经公司董事会审计委员会审议通过。 （《公司 2025 年第三季度报告》内容详见信息披露媒体：《证券时报》、 《上海证券报》和信息披露网站巨潮资讯网 www.cninfo.com.cn）。 特此公告。 广东遥望科技集 ...

Core Insights - The advertising and marketing sector experienced a decline of 0.6% on October 29, with Jiyun Technology leading the drop [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Tianyu Shuke (002354) rose by 2.56% to close at 6.82, with a trading volume of 956,900 shares and a turnover of 648 million yuan [1] - Jiyun Technology (300242) fell by 4.20% to close at 4.56, with a trading volume of 362,900 shares and a turnover of 167 million yuan [2] - The overall advertising and marketing sector saw a net outflow of 515 million yuan from major funds, while retail investors contributed a net inflow of 459 million yuan [2][3] Fund Flow Analysis - Major funds showed a net inflow of 72.18 million yuan into Tianyu Shuke, while retail investors had a net outflow of 62.32 million yuan [3] - For Fenjun Media (002027), major funds had a net inflow of 38.87 million yuan, but retail investors saw a net inflow of only 1.24 million yuan [3] - ST Huayang (603825) experienced a net inflow of 4.06 million yuan from major funds, while retail investors had a net inflow of 0.48 million yuan [3]

Market Overview - The primary economic sector increased by 0.25% compared to the previous trading day, with *ST Yazhen 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] Stock Performance - The top-performing stocks in the primary economic sector included: - *ST Yazhen: Closed at 48.25, up 3.70% with a trading volume of 45,900 shares and a turnover of 218 million yuan [1] - Shanghai Phoenix: Closed at 13.53, up 3.28% with a trading volume of 202,500 shares and a turnover of 275 million yuan [1] - Remote Technology: Closed at 6.94, up 3.12% with a trading volume of 805,000 shares and a turnover of 557 million yuan [1] Capital Flow - The primary economic sector experienced a net outflow of 87.83 million yuan from institutional investors, while retail investors saw a net inflow of 67.43 million yuan [2] - The capital flow for individual stocks showed: - Remote Technology had a net inflow of 38.64 million yuan from institutional investors, but a net outflow of 56.11 million yuan from retail investors [3] - Shanghai Phoenix saw a net inflow of 8.56 million yuan from institutional investors, with a net outflow of 21.73 million yuan from speculative funds [3]

Core Insights - The advertising and marketing sector saw a rise of 0.89% on October 28, with Tianxiexiu 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] Stock Performance - Tianxiexiu (600556) closed at 6.11, up 10.09%, with a trading volume of 1.9024 million shares and a transaction value of 1.142 billion [1] - Jiayun Technology (300242) closed at 4.76, up 4.16%, with a trading volume of 405,900 shares and a transaction value of 193 million [1] - Xinhua Du (002264) closed at 7.06, up 3.22%, with a trading volume of 331,900 shares and a transaction value of 232 million [1] - Other notable performers include Yaowang Technology (002291) up 3.12% and Qida Technology (300061) up 2.77% [1] Capital Flow - The advertising and marketing sector experienced a net inflow of 493 million from institutional investors, while retail investors saw a net outflow of 301 million [2] - The main stocks with significant capital inflow include Tianxiexiu with a net inflow of 337 million, accounting for 29.56% of its trading volume [3] - Conversely, retail investors showed a net outflow from stocks like Yidian Tianxia, which had a net outflow of 81.31 million, representing 8.98% of its trading volume [3]

Core Viewpoint - The Guangdong Free Trade Zone sector experienced a short-term surge, with several companies reaching their daily price limit, indicating strong market interest and potential investment opportunities [1] Company Summaries - Yue Media reached its daily price limit, reflecting significant investor confidence and interest in the company [1] - Lingnan Holdings, Yaowang Technology, Annai, Guangbai Shares, and Aohai Technology also saw price increases, suggesting a broader positive sentiment in the Guangdong Free Trade Zone sector [1]

Core Insights - The new beauty brand Jianqian, endorsed by artist Li Hao, achieved a remarkable GMV of 6 million yuan during its debut on Douyin, with the star product "Ice Americano Cleanser" selling over 140,000 units [1] - Jianqian's success is attributed to the collaboration between Yaowang Technology and Cosmax, which provided comprehensive support from marketing to sales conversion [1] - The brand's live streaming event set new records for both GMV and peak online viewers, reaching 71,000, and maintained a leading position in the beauty category [1] Product Details - The main product, "Ice Americano Cleanser," is competitively priced with a 100g single unit at 79 yuan for a two-pack and 129 yuan for a three-pack, supported by strong R&D capabilities [2] - Developed in partnership with Cosmax, a leading global cosmetics R&D manufacturer, the product benefits from a team of over 600 experts and patented core ingredients [2] - The product's design is inspired by the "Ice Americano," offering a refreshing cleansing experience aimed at young consumers who need a quick revitalization [2] Brand Philosophy - Jianqian emphasizes a commitment to "good products and good ingredients," focusing on the skincare needs of young Chinese women [3] - The brand advocates for efficient and simplified skincare, contrasting with traditional methods that often involve complex routines [3] - The core message of Jianqian is that effective skincare should be based on deep insights into skin needs, supported by solid technological innovation [3]

Core Viewpoint - The stock price of Yaowang Technology has shown fluctuations, with a recent decline of 2.12% and a year-to-date increase of 9.51% [1][2]. Company Overview - Yaowang Technology, established on July 25, 2002, and listed on September 3, 2009, is based in Nanhai District, Foshan, Guangdong Province. The company specializes in the production and sales of multi-brand mid-to-high-end fashion footwear and offers diversified fashion products through wholesale and retail [2]. - The main business revenue composition includes: social e-commerce 58.70%, new media advertising 32.33%, clothing and footwear 4.56%, self-owned brands and brand distribution 3.97%, and others 0.45% [2]. Financial Performance - As of June 30, 2025, Yaowang Technology reported a revenue of 1.896 billion yuan, a year-on-year decrease of 36.32%, and a net profit attributable to shareholders of -253 million yuan, a year-on-year decrease of 15.60% [3]. - The company has cumulatively distributed 80.195 million yuan since its A-share listing, with no distributions in the last three years [4]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 107,700, with an average of 8,151 circulating shares per person, a decrease of 4.33% from the previous period [3]. - The fourth largest circulating shareholder is Hong Kong Central Clearing Limited, holding 9.4199 million shares, an increase of 134,600 shares from the previous period [4].