2025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、误导性陈述或者重大遗漏。 特别提示： 1.本次股东会没有否决提案的情形。 2.本次股东会没有变更以往股东会已通过的决议的情形。 证券代码：002293 证券简称：罗莱生活 公告编号：2025-044 罗莱生活科技股份有限公司 一、会议召开和出席情况 （一）会议召集人：公司董事会 （二）会议时间： （1）现场会议时间：2025年9月9日（星期二）下午15:00。 （2）网络投票时间：2025年9月9日 其中，通过深圳证券交易所交易系统进行投票的具体时间为：2025年9月9 日上午9：15-9：25，9:30—11:30，下午13:00-15:00；通过深圳证券交易所互 联网投票系统进行投票的具体时间为：2025年9月9日9:15-15:00期间的任意时 间。 （三）现场会议地点：上海市普陀区同普路339弄3号公司会议室 （四）会议主持人：董事长薛伟成先生 （五）会议召开方式：采取现场投票与网络投票相结合的方式。公司同时 通过深圳证券交易所交易系统和互联网投票系统向公司股东提供网络形式的投 票平台，股东可 ...

证券代码：002293 证券简称：罗莱生活 公告编号：2025-047 罗莱生活科技股份有限公司减资公告 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。 罗莱生活科技股份有限公司（以下简称"公司"）分别于2025年8月21日召 开第六届董事会第十五次会议、第六届监事会第十三次会议，2025年9月9日召 开公司2025年第一次临时股东会，审议通过了《关于回购注销部分限制性股票 的议案》和《关于变更注册资本暨修订<公司章程>的议案》，有关情况如下： 2024年限制性股票与股票期权激励计划激励对象中2人因个人原因离职，失 去本次限制性股票激励资格，根据相关法律法规和公司《2024年限制性股票与 股票期权激励计划（草案）》等相关规定，公司对上述人员持有的2024年限制 性股票与股票期权激励计划中尚未解除限售的全部限制性股票（共计250,000股） 进行回购注销的处理。 本次回购注销完成后，公司股份总数由原来的834,092,481股减少至 833,842,481 股 ， 注 册 资 本 由 原 来 的 人 民 币 834,092,481 元 减 少 至 人 民 币 8 ...

Investment Rating - The report maintains a "Buy" rating for several key companies in the textile and apparel industry, including Anta Sports, Li Ning, and Xtep International, with respective 2025 PE ratios of 18x, 19x, and 12x [11][40]. Core Insights - Lululemon's FY2025Q2 revenue grew by 7% year-on-year to $2.5 billion, which was below the company's expectations, primarily due to weak performance in the U.S. market [1][16]. - The report highlights a continued recovery in the consumer environment for apparel, with a focus on the long-term growth potential of the sports footwear and apparel segment [3][24]. - The report emphasizes the importance of product differentiation and brand strength in the jewelry sector, predicting that companies with clear product differentiation will outperform the industry in 2025 [4][24]. Summary by Sections Lululemon's Performance - Lululemon's Q2 revenue was $2.5 billion, with a 7% year-on-year increase, and a 6% increase on a currency-neutral basis. The Americas segment saw a 1% increase, while international revenue grew by 22% [1][16]. - The gross profit increased by 5% to $1.5 billion, but the gross margin decreased by 1.1 percentage points to 58.5% [1][16]. - The company adjusted its FY2025 revenue growth forecast to 2%-4%, with a potential 4%-6% growth on a comparable 52-week basis [1][16]. Regional Analysis - In the U.S., Q2 revenue was flat, with a 1% increase in the Americas segment. The company noted that consumer response to new product colors was below expectations, indicating a potential issue with product lifecycle [20]. - In China, Q2 revenue grew by 24%, driven by the opening of five new stores and various brand-building activities. The company expects a 20%-25% revenue growth in FY2025 for the Chinese market [20][21]. Apparel and Footwear Sector - The report indicates that the sports footwear segment is expected to outperform the overall apparel market, with a healthy inventory turnover ratio of 4-5 [3][24]. - Key recommendations include Anta Sports, Li Ning, and Xtep International, which are expected to show strong performance due to their operational capabilities and market positioning [27][40]. Jewelry Sector - The report notes that the jewelry market is facing weak demand, with gold jewelry consumption down 27% and 24% in Q1 and Q2, respectively. Companies with strong product and brand capabilities are expected to perform better [39][24]. Manufacturing Sector - The textile manufacturing sector is experiencing changes due to new tariff policies, which may impact profit expectations for 2025-2026. Companies with integrated and international supply chains are expected to gain market share [8][25]. - Recommendations include Shenzhou International and Huayi Group, which are seen as having strong performance and competitive advantages [25][40].

Company Overview - Rolaile Life Technology Co., Ltd. is located in Shanghai and was established on May 23, 2002, with its listing date on September 10, 2009 [2] - The company specializes in the production and sales of household textiles, hotel textiles, and hats [2] - The main revenue composition includes: comforters (32.16%), standard sets (30.03%), furniture (17.98%), pillows (6.91%), summer products (6.58%), and others (6.33%) [2] Stock Performance - As of September 4, Rolaile Life's stock price decreased by 2.01%, trading at 8.27 CNY per share, with a total market capitalization of 6.898 billion CNY [1] - Year-to-date, the stock price has increased by 11.76%, but it has seen declines of 2.01% over the last 5 trading days, 3.05% over the last 20 days, and 7.91% over the last 60 days [2] Financial Performance - For the first half of 2025, Rolaile Life achieved a revenue of 2.181 billion CNY, representing a year-on-year growth of 3.60% [2] - The net profit attributable to shareholders for the same period was 185 million CNY, reflecting a year-on-year increase of 16.97% [2] Shareholder Information - As of June 30, 2025, the number of shareholders was 23,200, a decrease of 3.95% from the previous period [2] - The average circulating shares per person increased by 4.12% to 35,663 shares [2] - The total cash dividends distributed by Rolaile Life since its A-share listing amount to 5.181 billion CNY, with 1.504 billion CNY distributed in the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the sixth-largest circulating shareholder, holding 23.396 million shares, an increase of 13.7603 million shares from the previous period [3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's home textile business has shown a good recovery, while the furniture business still requires improvement [1] - The company is a leading player in the domestic home textile market, with a clear upward trend in its main business operations [7] - The online channel for home textiles has experienced significant growth, benefiting from national subsidy policies and successful large product strategies [7] Financial Performance - For the first half of 2025, the company reported total revenue of 2.181 billion yuan, a year-on-year increase of 3.6%, and a net profit attributable to shareholders of 185 million yuan, up 17.0% year-on-year [7] - The home textile segment generated revenue of 1.789 billion yuan, a year-on-year increase of 6.49%, while the U.S. furniture segment saw revenue decline to 392 million yuan, down 7.81% [7] - The gross profit margin increased to 47.82%, with a notable reduction in asset impairment losses contributing to profit growth despite rising expense ratios [7] Earnings Forecast and Valuation - The forecast for net profit attributable to shareholders has been adjusted downwards for 2025 and 2026 to 495 million yuan and 554 million yuan, respectively, while the 2027 forecast has been increased to 609 million yuan [7] - The company is expected to maintain a high dividend payout ratio, with a projected P/E ratio of 14 for 2025, 13 for 2026, and 12 for 2027 [7]

Summary of Key Points from the Conference Call Company Overview - **Company**: 罗莱生活 (Rolaile Life) - **Industry**: Home Textiles Financial Performance - **2025 Mid-Year Report**: Excluding one-time management fees, performance exceeded expectations, primarily driven by the home textile core business [1][5] - **Revenue Growth**: 3.6% year-on-year; Q2 revenue increased by 6.8% [1][16] - **Net Profit Growth**: 17% year-on-year; Q2 net profit increased by 4.9%, with a 52.9% increase when excluding litigation impacts [1][16] - **Sales Performance**: E-commerce channel grew by 18.3% year-on-year; direct sales increased by 5.1%; franchise channel declined by 8.7% [1][17] Product Highlights - **Zero Pressure Deep Sleep Pillow**: Became a growth driver with sales of 240,000 units and GMV exceeding 50 million yuan; expected to contribute over 100 million yuan in revenue for the year [1][17] - **Product Pricing**: The pillow is priced at approximately 200 yuan [1][17] Market and Channel Insights - **Market Penetration**: Accelerated penetration into tier 3 and tier 4 markets; same-store monthly revenue increased by 14.9% year-on-year [1][10] - **Channel Performance**: - E-commerce: Compound growth rate of 4.2%, gross margin increased from 44.6% to 53.3% [9] - Direct Sales: Compound growth rate of 1.5%, gross margin improved [9] - Franchise: Declined by 4.9% [9] Inventory Management - **Inventory Status**: Inventory decreased by 17.9% to 1.05 billion yuan; inventory turnover days reduced by 42 days to 169 days, indicating improved inventory management [1][21] - **Historical Context**: Inventory peaked at 1.64 billion yuan in 2022, now at a healthier level [11][12] Subsidiary Performance - **Lexington Subsidiary**: Experienced a loss of 28.75 million yuan in H1 2025 due to a weak U.S. real estate market; expected to turn profitable as the market stabilizes [3][20] - **Impact of U.S. Real Estate Market**: The subsidiary's performance is closely tied to the U.S. housing market, which has shown signs of recovery [15] Dividend Policy - **Dividend Declaration**: Mid-term dividend of 0.2 yuan per share with a payout ratio of 90%; expected annual dividend yield of approximately 6.4% [4][22] Future Outlook - **Profitability Forecast**: Maintained net profit forecast of 510 million yuan for 2025, with a price-to-earnings ratio of 16 times [4][23] - **Industry Trends**: The home textile industry is expected to grow at a CAGR of 3% from 2024 to 2029, with a focus on high-end technology products [13][14] - **Investment Recommendations**: Positive outlook on Rolaile Life's future growth potential, driven by product innovation and market recovery [18][23] Additional Insights - **Technological Upgrades**: The industry is undergoing product upgrades, positively impacting gross margins [19] - **Consumer Demand**: Increased consumer demand for health, comfort, and sleep-related products is driving growth in high-end technology products [8][19]

Core Points - The company, 罗莱生活科技股份有限公司, held its 15th board meeting and 13th supervisory board meeting on August 21, 2025, where it approved the proposal to cancel part of the stock options [1][2] - The cancellation involves 1.255 million stock options granted to 9 departing incentive recipients, which have not yet been exercised [1][2] - The company has submitted the cancellation application to the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, and the cancellation has been completed as of the announcement date [1] Compliance and Impact - The cancellation of stock options complies with the relevant regulations of the "Management Measures for Equity Incentives of Listed Companies" and the company's "2024 Restricted Stock and Stock Option Incentive Plan (Draft)" [2] - The reasons and quantity for the cancellation are legal, valid, and the procedures are compliant [2] - The canceled stock options do not affect the company's capital structure and will not have a significant impact on the company's financial status and operating results [2]

Company Overview - 罗莱生活科技股份有限公司 is located in Shanghai and was established on May 23, 2002, with its listing date on September 10, 2009 [2] - The company specializes in the production and sales of household textiles, hotel textiles, and hats [2] - Main business revenue composition includes: comforters 32.16%, standard sets 30.03%, furniture 17.98%, pillows 6.91%, summer products 6.58%, and others 6.33% [2] Stock Performance - As of August 29, 罗莱生活's stock price increased by 2.01% to 8.61 CNY per share, with a market capitalization of 7.182 billion CNY [1] - Year-to-date stock price growth is 16.35%, with a recent 5-day decline of 0.23%, a 20-day increase of 1.77%, and a 60-day decline of 2.93% [2] - The stock saw a net inflow of 1.3613 million CNY from main funds, with large orders accounting for 12.24% of purchases [1] Financial Performance - For the first half of 2025, 罗莱生活 achieved a revenue of 2.181 billion CNY, representing a year-on-year growth of 3.60% [2] - The net profit attributable to shareholders for the same period was 185 million CNY, showing a year-on-year increase of 16.97% [2] Shareholder Information - As of June 30, 2025, the number of shareholders was 23,200, a decrease of 3.95% from the previous period [2] - The average circulating shares per person increased by 4.12% to 35,663 shares [2] - Cumulative cash dividends since the A-share listing amount to 5.181 billion CNY, with 1.504 billion CNY distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited is the sixth-largest circulating shareholder, holding 23.3957 million shares, an increase of 13.7603 million shares from the previous period [3]

证券代码：002293 证券简称：罗莱生活 公告编号：2025-043 罗莱生活科技股份有限公司（以下简称"公司"或"罗莱生活"）于2025 年8月21日召开了第六届董事会第十五次会议与第六届监事会第十三次会议，审 议通过了《关于注销部分股票期权的议案》，根据2024年限制性股票与股票期权 激励计划（草案）的规定及2024年第二次临时股东大会的授权，董事会及监事会 同意对9名离职的激励对象已获授但尚未行权的125.5万份股票期权予以注销，具 体内容详见公司于2025年8月23日在巨潮资讯网（www.cninfo.com.cn）、《证券 时报》登载的《关于注销部分股票期权的公告》（公告编号：2025-034）。 公司已向中国证券登记结算有限责任公司深圳分公司（以下简称"中登公司"） 提交注销上述股票期权的申请，截至本公告披露日，经中登公司审核确认，公司 已完成上述125.5万份股票期权的注销业务。 公司本次注销部分股票期权符合《上市公司股权激励管理办法》及公司《2024 年限制性股票与股票期权激励计划（草案）》的相关规定，注销原因及数量合法、 有效，且程序合规。本次注销的股票期权尚未行权，不影响公司股本结构，不 ...

Company Overview - 罗莱生活科技股份有限公司 is located in Shanghai and was established on May 23, 2002, with its listing date on September 10, 2009 [1] - The company specializes in the production and sales of household textiles, hotel textiles, and hats, with 100% of its revenue coming from wholesale and retail [1] Financial Performance - For the first half of 2025, 罗莱生活 achieved a revenue of 2.181 billion yuan, representing a year-on-year growth of 3.60% [2] - The net profit attributable to shareholders for the same period was 185 million yuan, showing a year-on-year increase of 16.97% [2] - Cumulatively, the company has distributed 5.181 billion yuan in dividends since its A-share listing, with 1.504 billion yuan distributed over the past three years [3] Stock Performance - As of August 28, 罗莱生活's stock price was 8.40 yuan per share, with a market capitalization of 7.006 billion yuan [1] - The stock has seen a year-to-date increase of 13.51%, but has declined by 3.67% over the past five trading days and 8.10% over the past 60 days [1] - The number of shareholders as of June 30 was 23,200, a decrease of 3.95% from the previous period, while the average circulating shares per person increased by 4.12% to 35,663 shares [2] Shareholding Structure - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited, which held 23.396 million shares, an increase of 13.7603 million shares from the previous period [3] Market Position - 罗莱生活 is categorized under the textile and apparel industry, specifically in the home textile segment, and is associated with concepts such as new retail, smart home, live streaming, e-commerce, and influencer economy [1]