Market Overview - The Shanghai Composite Index closed at 3819.32 points, with a gain of 0.32%, and the total trading volume of A-shares reached 1,641.14 billion yuan [1] - As of the current date, 29 A-shares have surpassed their annual moving average, indicating positive market sentiment [1] Notable Stocks - The stocks with the highest deviation rates from their annual moving average include: - Luopuskin (002333) with a deviation rate of 8.13% and a daily increase of 9.94% [1] - ST Huaxi (002630) with a deviation rate of 4.11% and a daily increase of 4.88% [1] - Wutong Holdings (300292) with a deviation rate of 3.67% and a daily increase of 5.35% [1] - Other stocks that have just crossed their annual moving average with lower deviation rates include: - Jiecheng Co. (300182) with a deviation rate of 0.04% and a daily increase of 1.60% [2] - Ganyue Expressway (600269) with a deviation rate of 0.05% and a daily increase of 0.40% [2] - Guangsha Huaneng (873703) with a deviation rate of 0.06% and a daily increase of 0.96% [2] Trading Activity - The trading turnover rate for notable stocks shows significant activity, with Luopuskin (002333) having a turnover rate of 3.79% and ST Huaxi (002630) at 6.77% [1] - The overall trading environment reflects a mix of high and low turnover rates among stocks that have recently crossed their annual moving averages [1][2]

Investment Rating - The investment rating for the company is "Accumulate" and maintained [9]. Core Views - The company reported total revenue of 4.773 billion yuan and a net profit attributable to shareholders of 87 million yuan for the first half of 2025, reflecting a year-on-year decline of 4% and 8% respectively. In Q2 2025, total revenue was 2.561 billion yuan, with a net profit of 39 million yuan, showing a year-on-year decrease of 9% and 15% respectively [2][6]. Summary by Sections Financial Performance - In H1 2025, the company's B2B business revenue was 4.756 billion yuan, down 4% year-on-year, accounting for 99.64% of total revenue. The gross margin was 9.04%, a decrease of 0.6 percentage points year-on-year, with a net profit of 85 million yuan, down 41% year-on-year [11]. - The company's Q2 performance was impacted by a slowdown in procurement from major clients, leading to a decline in revenue and profit margins [11]. - The SAAS business showed signs of recovery, with revenue of 17 million yuan in H1 2025, down 37% year-on-year, but achieving a gross margin of 24.58%, an increase of 15.3 percentage points year-on-year [11]. Business Segments - The B2B business is focusing on core clients, with over 60% of revenue coming from 100 central enterprises. The company is leveraging AI to enhance efficiency and reduce costs in its procurement services [11]. - The new brand stationery business is expected to contribute positively, with recent collaborations with quality IPs leading to new product launches [11]. Future Outlook - The company anticipates a gradual recovery in revenue and profitability, with projected net profits of 210 million yuan, 250 million yuan, and 310 million yuan for 2025, 2026, and 2027 respectively, corresponding to PE ratios of 24, 20, and 16 [11].

自有品牌：深耕IP合作，提升用户体验 自有品牌是公司中长期规划的重要部分。公司针对办公、文创消费需求细分市场，加强与优质IP合作， 研发功能型文具。齐心文创秉持"深耕中国IP，讲好中国故事"理念，与更多国内新IP合作，打造符合年 轻人审美的文创产品。 9月8日，齐心集团接待了来自时代伯乐的陈骅、胡琦伟两名代表，就公司业务布局、自有品牌发展、数 字化运营等多个关键领域进行了深入交流。 投资者关系活动关键信息 本次投资者关系活动类别为特定对象调研，于2025年9月8日15:50 - 16:50在公司会议室以现场交流的形 式展开。上市公司接待人员包括副总经理、董事会秘书王占君，以及证券事务代表罗江龙。 业务布局：聚焦优质大客户，拓展多元业务 齐心集团主营业务为B2B办公物资集采，目前已服务超60家央企，占当前100家央企的多数。基于客户 重叠度，公司强化MRO工业品、员工福利等业务能力，拓展营销物料等高附加值业务，打造综合物资 集采服务平台，助力政企客户降本增效。 互动问答：多维度规划，推动持续发展销售渠道：通过加强全渠道产品价值链管理和推广，提升产品触 达终端客户能力。IP战略规划：持续投入资源，推动IP文创成为 ...

深圳齐心集团股份有限公司 投资者关系活动记录表 编号：2025-007 投资者关系活动类别 特定对象调研 □分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 （ ） 参与单位名称及人员姓名 时代伯乐陈骅、胡琦伟 时间 2025 年 9 月 8 日 15:50-16:50 地点 公司会议室 交流形式 现场交流 上市公司接待人员姓名 副总经理、董事会秘书王占君，证券事务代表罗江龙 交流内容及具体问答记录 一、参观公司展厅 二、公司业务介绍 证券代码：002301 证券简称：齐心集团 答：公司较早布局 IP 文创领域，通过与各类 IP 伙伴进行联名合作，将优质产品作为载 体，实现 IP 文创与数字化营销的创新融合，为消费者提供具有品牌感、时尚感且符合年轻 人喜好的产品。未来，公司将按照既定规划持续投入资源，推动 IP 文创成为自有品牌业务 的重要补充，并打造新的增长点。 3.公司数字化运营平台是否持续进行投入？ 公司主营业务为 B2B 办公物资集采业务，持续聚焦央企、央管金融机构、政府、世界 500 强等优质大客户，其中当前 100 家央企中，已服务超 60 家。基于核心业务场景的客 ...

Group 1 - The core point of the article is that Qixin Group announced the approval of the "2025 Employee Stock Ownership Plan (Draft)" and several other proposals during the third meeting of its ninth board of directors [2] Group 2 - The announcement was made on the evening of September 5, indicating the company's ongoing efforts to enhance employee engagement and investment in the company [2] - The approval of the employee stock ownership plan suggests a strategic move to align employee interests with company performance [2] - The details of the plan and its implications for the company's future performance were not disclosed in the announcement [2]

Group 1 - The core point of the article is that Qixin Group announced a board meeting to discuss the employee stock ownership plan for 2025, indicating a strategic move towards employee engagement and investment [1] - For the first half of 2025, Qixin Group's revenue composition shows that B2B accounts for 99.64%, while software products and services account for only 0.36%, highlighting the company's strong focus on B2B operations [1] - As of the report, Qixin Group has a market capitalization of 5 billion yuan, reflecting its current valuation in the market [1] Group 2 - The article also discusses the challenges faced by Haidilao, noting that the survival rate of its sub-brands is less than 50%, which raises concerns about the sustainability of its diversification strategy [1]

Core Viewpoint - The company has established a 2025 Employee Stock Ownership Plan (ESOP) aimed at enhancing long-term development, retaining talent, and aligning employee interests with shareholder value creation [1][2]. Summary by Sections General Principles - The ESOP is designed to be voluntary, ensuring no forced participation among employees [2]. - Participants bear their own risks and have equal rights with other investors [2]. Objectives of the ESOP - The plan aims to focus on the company's long-term growth and value creation for shareholders [2]. - It seeks to retain key management and technical personnel, thereby enhancing employee cohesion and competitiveness [2]. Eligibility Criteria - Eligible participants include company directors (excluding independent directors), senior management, and key technical staff [3]. - Individuals with a history of misconduct or legal violations are excluded from participation [3][4]. Funding and Scale - The ESOP will be funded through participants' own resources, with no financial assistance from the company [3][4]. - The total number of shares available under the plan is capped at 34.56 million, with individual contributions starting at 1 yuan per share [4]. Stock Source and Lock-up Period - Shares will be sourced from the company's repurchased stock, with adjustments made for any corporate actions like stock splits or dividends [4][5]. - A lock-up period is established during which participants cannot trade their shares, particularly around significant financial disclosures [5][6]. Performance Assessment - The performance evaluation for the ESOP will occur over two years, with specific revenue and profit growth targets set for 2025 and 2026 [6][8]. - The first performance target requires a revenue increase of at least 3% and a net profit of no less than 140 million yuan in 2025 [6][8]. Management Structure - The ESOP will be managed by a committee authorized by the board of directors, ensuring the protection of participants' rights and the integrity of the plan [9][10]. - A meeting of all participants will be held to discuss and vote on significant decisions regarding the ESOP [10][11]. Rights and Obligations of Participants - Participants have the right to vote on matters related to the ESOP but must adhere to confidentiality and other obligations [17][18]. - Participants are responsible for their own investment risks and must comply with relevant laws and regulations [17][18]. Asset Composition and Rights Disposal - The assets of the ESOP are separate from the company's assets, and any income generated will belong to the ESOP [18][19]. - Upon termination or completion of the lock-up period, the distribution of assets will be managed according to the established guidelines [19][20]. Amendments and Termination - Any changes to the ESOP must be approved by a majority of participants and the board of directors [20][21]. - The plan can be terminated early if agreed upon by a majority of participants [20][21]. Implementation Procedures - The implementation of the ESOP will follow a structured process, including soliciting employee feedback and ensuring compliance with legal requirements [21][22].

Core Points - The Shenzhen Qixin Group Co., Ltd. has proposed a 2025 Employee Stock Ownership Plan (ESOP) aimed at enhancing corporate governance and aligning employee interests with company performance [1][2][3] - The plan will involve a maximum of 34.56 million shares, representing 1.33% of the company's total share capital, with a total investment not exceeding 180 employees [2][3][8] - The stock will be acquired from the company's repurchased shares at a price of 3.60 yuan per share, with the plan subject to shareholder approval [10][11] Summary by Sections General Principles - The ESOP is designed to improve corporate governance and create a profit-sharing mechanism between employees and shareholders, enhancing employee cohesion and competitiveness [1][3] - The plan adheres to legal regulations and emphasizes voluntary participation without coercion [1][3] Participants - Eligible participants include directors, senior management, middle management, and key technical staff, excluding major shareholders and their immediate family [2][8] - The final list of participants will be confirmed by the board based on actual contributions [2][8] Funding and Shares - The ESOP will be funded through employees' own capital, with no financial assistance from the company [2][3] - The total number of shares available for the plan is capped at 34.56 million, with individual contributions starting at 1 yuan per share [2][3] Performance Assessment - The performance assessment for the ESOP will be based on company revenue and net profit growth, with specific targets set for 2025 and 2026 [12][14] - The first tranche of shares will vest if the company achieves a revenue growth rate of at least 3% or a net profit of 140 million yuan in 2025 [12][14] Governance and Management - A management committee will oversee the ESOP, ensuring the interests of participants are protected and managing the plan's assets [17][19] - Participants will have voting rights in the management committee but will waive their voting rights in shareholder meetings regarding the ESOP [4][19] Lock-up Period - The ESOP will have a lock-up period of 12 months, during which participants cannot sell their shares [13][14] - The plan's total duration is set for 30 months, with provisions for extension under certain conditions [13][14] Rights and Obligations - Participants will bear the investment risks and are required to comply with relevant laws and the ESOP's regulations [21][22] - The company will not allow the transfer of shares acquired through the ESOP without consent [22]

Core Viewpoint - The company has proposed a 2025 Employee Stock Ownership Plan (ESOP) aimed at enhancing corporate governance, aligning employee interests with those of shareholders, and improving overall competitiveness and cohesion within the organization [1][6][9]. Summary by Sections General Principles - The ESOP is established in accordance with relevant laws and regulations, including the Company Law and Securities Law, and aims to create a fair and transparent mechanism for profit sharing between employees and owners [6][8]. Participants in the ESOP - The plan will include up to 180 employees, specifically targeting middle management, key technical personnel, and core employees, excluding major shareholders and their immediate family [2][8][9]. - The final list of participants and their respective shares will depend on actual contributions made by the employees [2][10]. Funding and Stock Source - The ESOP will be funded through employees' own contributions, with no financial assistance from the company [2][10]. - The total number of shares available for the ESOP is capped at 34.56 million, with each share priced at 1 yuan [10][12]. Stock Transfer and Lock-up Period - The plan will involve the transfer of up to 9.6 million shares from the company's repurchase account, representing approximately 1.33% of the total share capital [3][11]. - A lock-up period of 12 months will apply from the date of stock transfer to the ESOP [14][15]. Performance Assessment - The performance assessment for the ESOP will be conducted over two years, with specific revenue and profit growth targets set for 2025 and 2026 [14][16]. - The first performance target requires a minimum revenue growth of 3% or a net profit of at least 140 million yuan (a 123% increase) in 2025 [4][16]. - The second target requires a minimum revenue growth of 8% or a net profit of at least 180 million yuan (a 187% increase) in 2026 [4][16]. Rights and Governance - Participants will retain rights to dividends and investment benefits but will forfeit voting rights related to the shares acquired through the ESOP [5][9]. - The management committee will oversee the ESOP, ensuring independence from the company's other shareholders and management [19][25]. Financial Implications - The total estimated cost of the ESOP is projected to be 31.68 million yuan, which will be amortized over the vesting periods [24]. - The ESOP is expected to positively influence employee motivation and operational efficiency, contributing to the company's long-term growth [24].

Group 1 - The company held its third meeting of the ninth board of directors, with all nine directors present, and the meeting was conducted in accordance with legal regulations [1] - The board approved the implementation of the 2025 Employee Stock Ownership Plan (ESOP) to enhance the incentive mechanism for employees and attract talent, with a proposed stock scale of up to 9.6 million shares, representing 1.33% of the total share capital [1][2] - The board's decision on the ESOP will be submitted for approval at the upcoming shareholders' meeting, and the management plan for the ESOP will also be published [2][3] Group 2 - The board proposed to authorize itself to handle specific matters related to the ESOP, including the cancellation of qualifications for holders and adjustments based on new policies [2][3] - The voting results for the proposals showed unanimous support from non-related directors, with no votes against or abstentions [2][3] - All three proposals will be presented together at the upcoming temporary shareholders' meeting for consideration [3]