Group 1: Company Overview - The company differentiates itself from commercial real estate by having a strong industrial foundation and close ties with merchants, utilizing a direct sales model and a replication business strategy [2] - The company has been operating for 20 years, establishing brand influence and providing a series of industry services to merchants, including events and competitions [2] Group 2: Market Expansion and Impact - The company plans to open new markets in Urumqi and Jinan next year [2] - Market expansion into other regions is not expected to negatively impact the main market's customer flow, as local customers tend to shop at nearby markets [2] - The company aims to capture local market share through its expansion strategy, leveraging direct sales to attract customers [2] Group 3: Economic Conditions and Opportunities - The company views economic downturns as opportunities, citing the Urumqi project as a model for quick market acquisition at low costs [2] - The company does not rely on the internet but acknowledges its impact, maintaining a focus on physical market operations while also utilizing its own website for service and marketing [3] Group 4: Location Considerations for Expansion - Site selection for market expansion typically focuses on suburban areas, with specific regions chosen based on existing industrial foundations and local consumer preferences [3]

Group 1: Investor Relations Activities - The investor relations activity included a site visit with participation from 14 representatives from various securities firms [1] - The meeting took place on December 18, 2014, in the company conference room [1] Group 2: Company Expansion Plans - The company plans to open new markets in Jinan and Urumqi next year, with a goal of expanding at a rate of three markets every two years or one market per year [2] - The company is developing a Korean Fashion Center, which is expected to open in October 2015, following two to three years of research [2] Group 3: Business Model and Innovation - The business model combines heavy and light asset strategies, focusing on core market operations while also developing innovative businesses [2] - Recent innovations include a cosmetics experience center opened in September and a food and daily necessities experience center, both of which have shown positive results [2] Group 4: E-commerce and Market Strategy - The company embraces e-commerce to enhance marketing and promotional services, with direct sales from manufacturers minimizing price competition with online retailers [3] - The company is implementing an APP for smart market solutions and aims to achieve Wi-Fi coverage in the market, enhancing electronic business operations [2]

Group 1: Market Performance - The rental income from the main market has not been significantly affected despite a decrease in private shop rents due to economic conditions [1][2] - The overall customer flow in the main market has slightly increased, with private car usage showing growth, indicating stronger purchasing power [2][3] - The company plans to enhance marketing efforts, including activities targeting private car users [2][3] Group 2: Inventory and Pricing - Merchants have accumulated inventory due to rising raw material prices, which has some value but is primarily raw materials rather than finished products [2][3] - The pricing of rental rights is determined by expected market prosperity, market size, and competition [3][4] Group 3: Expansion and Market Strategy - The company is exploring new cities for expansion, including Xi'an, Hohhot, and Xinjiang, with ongoing projects in Tianjin and Jinan [3][4] - The company’s market is currently the largest in the domestic market, with significant competition from other large markets [3][4] Group 4: Consumer Trends and E-commerce - The consumer age demographic for leather clothing shows a preference for men's clothing among those over 30, while women's fashion is diverse and increasingly popular among younger consumers [4] - The company views e-commerce as a service platform, focusing on enhancing offline experiences rather than direct online sales due to the nature of leather products [4][5] Group 5: Financial Investments - Overall expenses have not changed significantly, with new marketing investments in the Harbin market, while mature markets like Tong Er Bao see minimal impact from new phases [4][5]

Group 1: Market Conditions and Rental Strategies - The possibility of rental decline in external markets is low based on market conditions [2] - Chengdu market has improved compared to last year, with no rent increase for merchants this year; potential for rent increase next year if market conditions remain favorable [2] - The rental increase in Tong Er Bao market is relatively challenging, with overall operations in both markets remaining stable compared to last year [2] Group 2: Financial Performance and Cost Management - Marketing expenses decreased in the first half of the year due to a shift in marketing strategy towards new media advertising [2] - The company plans to invest heavily in marketing expenses in July and August, coinciding with the opening of new markets [2] - The company’s cash flow is stable, but project signing pace may slow down depending on negotiation progress [3] Group 3: Expansion Plans and Market Development - New markets expected to open include Harbin in the second half of the year, with part of the shops already sold [3] - The company is exploring international cooperation, including a Korean product exhibition by the end of the year [3] - The company aims to establish an online leather city with its own sales website, despite current low online sales volume [4] Group 4: Consumer Behavior and Market Dynamics - The purchasing power in the market remains unchanged, with small vehicles being the main source of consumer traffic [3] - External market increases are not expected to dilute local market traffic, as consumer groups primarily travel within a three-hour radius [3] - To attract small vehicle customers, various promotional activities have been launched, such as WeChat red envelopes [3] Group 5: Sales and Revenue Recovery - Generally, selling 10%-15% of shops can recover initial investments, along with one year of rent and leasing fees [3] - The Harbin market has a significant scale and cost, with local merchants accounting for approximately 50% of the market [4]

Group 1: Company Growth and Market Potential - The first-year rental pricing for the new Haining Phase VI wholesale center is low, indicating significant potential for rental increases [1] - The opening of the subway in Wuhan and improvements in the surrounding environment will enhance market rental potential [2] - The company plans to combat counterfeit markets and is considering self-built and acquisition strategies for new rehabilitation hospital projects, expected to open after New Year due to renovation [2] Group 2: Profit Trends and Industry Insights - The company's profits have stabilized after a decline, primarily due to the completion of real estate projects and the expiration of rental rights fees [2] - The leather industry is cyclical and heavily influenced by supply and demand dynamics, with raw material prices having adjusted over the past three years, suggesting a potential rebound [2] - The company's property assets are recorded based on construction costs, with rental income being the primary revenue source, influenced by the leather industry's development [2] Group 3: Market Dynamics and Future Projections - The performance of merchants will impact the number of merchants entering the market, as it is driven by industry demand and merchant capabilities [3] - The rental situation for the following year will depend on the market performance during peak months of November, December, and January [3]

Group 1: Company Performance and Market Overview - The company experienced a decline in profits from the peak in 2013 due to the expiration of rental rights and a lack of sales in 2014 and 2015, resulting in primarily rental income [1][2] - The company operates a total of ten markets, with one in the headquarters and nine in other locations, seven of which are self-built [2] - The headquarters market holds a larger share of the rental income distribution [2] Group 2: Future Growth and Market Strategy - Future growth will come from opening new markets and negotiating light-asset projects [2] - The company is focusing on three centers: design, raw materials, and wholesale, to better capture market demands [2][3] Group 3: Product and Pricing Insights - The average transaction price has generally decreased, influenced by shop price adjustments, although personalized clothing prices have not dropped significantly [2] - The fashion town project is one of 36 characteristic town projects in the province and is currently in development [3] Group 4: Healthcare Project Developments - The rehabilitation hospital project has faced delays due to difficulties in site renovation and is now expected to open before the Spring Festival [3] - There is a high demand for the rehabilitation hospital, which will have 150 beds, and the number of insurance-covered projects has increased from 9 to 29 [3]

Group 1: Company Development and New Initiatives - The company has added over 400 million in cash flow from the new e-commerce distribution center, solidifying its position as an industry leader [1] - The new business "P2P Finance" is exploring new channels in response to policy changes, while a rehabilitation hospital project is set to open in November, indicating growth potential in the healthcare sector [2] - The company aims to diversify its main business by enhancing product categories and expanding into high-end markets while also targeting mass-market distribution [2] Group 2: Market and Customer Engagement - There is no concern regarding individual street shops diverting customers, as the overall market offers a better experience and a wider variety of clothing options [2] - The company is developing a fashion town, with construction starting on September 23, aiming to connect with international trends and enhance design capabilities [2] - The company is adjusting rental fees in response to macroeconomic pressures, ensuring mutual growth with merchants [3] Group 3: Digital Integration and Strategy - The company is integrating merchants and customers through its platform, focusing on marketing and management rather than becoming a direct sales e-commerce platform [3]

Group 1: Company Development Strategy - The company aims to strengthen its core competitiveness in leather clothing and fur products, with plans to double the scale of raw material exhibitions this year and collaborate with countries like Italy and Turkey for diverse raw materials [2] - The company intends to expand into the fashion industry, promoting itself as a wholesale center for autumn and winter fashion [2] - There are plans to develop a second main business in the health industry at an appropriate time [2] Group 2: Growth Opportunities - The company identifies opportunities in revitalizing idle funds and expanding through partnerships with well-managed brands, allowing them to use the Haining Leather City brand [3] - The company is exploring the development of a fashion town, which includes plans for a bridge connecting to the market, building industrial parks, and enhancing public facilities [3] Group 3: Market Trends and Consumer Preferences - There is a growing consumer preference for leather clothing, indicating potential for increased demand, necessitating improvements in product design and marketing strategies [3] - The company acknowledges the need for quantitative data analysis in the supply chain, which is available through the statistics department and industry reports [3]

海宁中国皮革城股份有限公司 2022 年第三季度报告 证券代码：002344 证券简称：海宁皮城 公告编号：2022-040 海宁中国皮革城股份有限公司 2022 年第三季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第三季度报告是否经过审计 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 259,071,270.10 | -13.88% | 819,842,056.56 | -14.36% | | 归属于上市公司股东 | 32,144,678.64 | -13.33% | 216,734,408.10 ...