证券代码：002486 证券简称：嘉麟杰 公告编号：2025-046 上海嘉麟杰纺织品股份有限公司 第六届董事会第十七次会议决议公告 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、董事会会议召开情况 上海嘉麟杰纺织品股份有限公司（以下简称"公司"）第六届董事会第十七 次会议通知于 2025 年 12 月 22 日以书面及通讯方式送达至全体董事，于 2025 年 12 月 24 日在公司会议室以现场和通讯相结合的方式召开。本次会议由董事长 杨希女士召集并主持，会议应出席董事 9 人，实际出席董事 9 人，公司高级管理 人员列席了本次会议。本次会议的召集、召开程序符合法律法规及《上海嘉麟杰 纺织品股份有限公司章程》的规定，会议合法、有效。 二、董事会会议审议情况 1.审议通过了《关于拟变更会计师事务所的议案》（同意票 9 票，反对票 0 票，弃权票 0 票）。 鉴于公司 2024 年度审计机构聘期已满，结合公司业务发展需要和审计需求， 根据财政部、国务院国资委、证监会印发的《国有企业、上市公司选聘会计师事 务所管理办法》等相关规定，公司拟聘任中审亚太会计师事 ...

12月19日，嘉麟杰盘中上涨2.02%，截至10:09，报3.03元/股，成交2625.09万元，换手率1.07%，总市值 24.98亿元。 机构持仓方面，截止2025年9月30日，嘉麟杰十大流通股东中，中信保诚多策略混合(LOF)A（165531） 位居第八大流通股东，持股333.33万股，为新进股东。 责任编辑：小浪快报 资料显示，上海嘉麟杰纺织品股份有限公司位于上海市金山区亭林镇亭枫公路1918号，成立日期2001年 1月20日，上市日期2010年10月15日，公司主营业务涉及主要从事高端针织面料的生产和销售,兼营针织 面料成衣的生产和销售。主营业务收入构成为：成衣69.29%，面料30.57%，其他0.14%。 嘉麟杰所属申万行业为：纺织服饰-服装家纺-运动服装。所属概念板块包括：微盘股、体育产业、小 盘、抗菌面料、低价等。 截至9月30日，嘉麟杰股东户数4.95万，较上期减少0.64%；人均流通股16561股，较上期增加0.64%。 2025年1月-9月，嘉麟杰实现营业收入9.18亿元，同比增长3.49%；归母净利润5199.58万元，同比增长 205.46%。 分红方面，嘉麟杰A股上市后累计派现1 ...

Group 1 - The core viewpoint of the article is that Jialinjie (SZ 002486) will hold an investor meeting on December 5, 2025, where the company's general manager will address investor inquiries [1] - For the first half of 2025, Jialinjie's revenue composition is reported to be 100% from the industrial sector [1] - As of the report date, Jialinjie's market capitalization stands at 2.6 billion yuan [1]

Group 1: Company Structure and Production - The company employs a vertically integrated production system, allowing for internal collaboration in dyeing and printing, which shortens production cycles and aligns with the fast-response trend in the industry [2] - The production capacity is currently at full load, with ongoing local expansions and efficiency improvements in existing equipment [3] Group 2: Financial Performance and Profitability - The company's self-use to external sales ratio for fabric products is approximately 1:1 in terms of value, with a higher volume of external sales [3] - The lower profit margins compared to peers like Shenzhou International are attributed to a smaller production scale, high R&D expenses, and increased demands for complex R&D from key clients [3] - The gross margin fluctuations are influenced by raw material costs (approximately 70% of costs), strong bargaining power of major clients, labor costs in Shanghai, and temporary increases in production costs due to smart equipment layout [4] Group 3: Market Strategy and Customer Base - The current customer base consists of approximately 60% international clients and 40% domestic clients, with plans to enhance market presence through technological innovation and sales channel expansion [3] - The company is open to collaborations with domestic brands for joint promotional activities to increase brand influence [3] Group 4: Raw Material and Cost Management - The company primarily uses wool as a raw material, with specific proportions not disclosed [4] - Wool price increases are expected to have a limited impact on gross margins due to long-term pricing agreements with suppliers, which provide time to adapt to market changes [4] Group 5: Investment and Future Plans - The company has added production capacity in Vietnam in 2025 and plans to maintain a focus on core business while considering future expansions based on cash flow and market conditions [3] - Investment returns from the Masood joint venture have been volatile due to a significant procurement incident in 2024, but improvements in management are expected to stabilize performance [4]

Group 1 - Four companies have received court approval for restructuring investments [2] - Aowannianqing's product, Zhongzubei Dingchuan Wan, focuses on treating respiratory issues [2] - Beida Pharmaceutical has expanded its business scope to include both chemical synthesis and biopharmaceuticals [2] - Zhongheng Group's subsidiary acquired a technology for treating chronic heart failure for 55 million yuan [2] - Huaren Health is focused on the pharmaceutical distribution industry, with Alibaba Health as a significant shareholder [2] - Haiwang Biological is one of the largest national pharmaceutical commercial enterprises in China [2] - Fuyuan Pharmaceutical's Lansoprazole enteric-coated capsules have been approved for registration [2] - People's Tongtai is the largest pharmaceutical commercial company in Heilongjiang Province [2] - Yinghe Group is a regional leader in pharmaceutical distribution in Zhejiang Province [2] - Ruikang Pharmaceutical has completed special item approval for the import of Evusheld, a COVID-19 prevention drug [2] - Jindike is one of the first companies to achieve the approval and sale of quadrivalent influenza vaccines [2] Group 2 - Dairong has completed the transfer of shares with Zhongdao Chenying [3] - Boyong Generation is a leader in the domestic ETC chip field [3] - Wantong Development plans to invest 854 million yuan to acquire a 62.98% stake in Shudu Technology [3] - Mingwei Electronics collaborates with major manufacturers for chip production [3] - Qipilong is a leading Chinese men's clothing brand [3] - Dongxin Co. is one of the few companies in mainland China providing complete solutions for NAND, NOR, and DRAM chips [3] - The National Space Administration has issued a plan to promote the high-quality development of commercial aerospace [3] - Sanwei Tiandi has clients including China Aerospace for its digital inspection and testing management services [3] - Leike Defense has developed a comprehensive satellite application business [3] - Tianqimo has sufficient orders for its aviation parts business [3] Group 3 - The implementation plan to enhance the adaptability of supply and demand for consumer goods has been issued [4] - Maoye Commercial is a retail market leader in Hohhot [4] - Jialinjie is a leader in functional fabrics for outdoor sports [4] - Xueqi Electric specializes in the production of refrigerators and commercial display cabinets [4] - Guangbai Co. is the largest department store chain in Guangzhou [4] - Mengjie Co. has launched the first children's home textile brand in the industry [4] - Juran Smart Home has signed a strategic cooperation agreement following the chairman's passing [4] - Haixin Food is a leading company in the frozen fish ball market [4] - Sanjiang Shopping is the largest local supermarket chain in Zhejiang Province [4] - Jiangxi Province's first listed company in the commercial circulation industry is Guoguang Chain [4] Group 4 - The company is a leading e-commerce platform for liquor, with various brand partnerships [5] - Shiji Group plans to acquire a 95% stake in Fujian Shuchuan Ming Shang for 184.6 million yuan [5] - Laizhi Group specializes in new materials for construction additives [5] - Dahua Intelligent has developed a complete quantum secure satellite internet communication solution [5] - Haitong Development operates dry bulk shipping services across over 200 ports [5] - Qingshan Paper is a major supplier of optical communication modules and components [5] Group 5 - Ningbo Color Masterbatch has launched a high-transparency POE film crosslinking masterbatch [6] - BOLE FREE STARS' app surpassed 10 million downloads in its first week [6] - Hainan Free Trade Port is set to launch on December 18 [6] - Hainan Ruize focuses on concrete and new wall materials production [6] - Tianpu Co. has completed the transfer of shares with Zhonghuang Chenying [6] - Longsao Technology has increased its sales contract for lithium iron phosphate materials significantly [6] Group 6 - The company has developed energy storage products covering various systems and collaborated with international wind power leaders [7] - Huanyue Century has established an AI joint laboratory for content production [7] - Luoping Zinc Electric is the only enterprise in the zinc smelting industry with a tri-production model [7] - Meiyan Jixiang operates seven hydropower stations in Guangdong [7] - Qingshang Co. has developed smart city products using streetlights as a platform [7] - Meike Home focuses on domestic retail and international wholesale of home products [7] Group 7 - Chitianhua is the largest methanol producer in Guizhou, with an annual capacity of 300,000 tons [8] - Weiyuan Co. is the largest producer of phenol and acetone in China [8] - Teli A is controlled by the Shenzhen State-owned Assets Supervision and Administration Commission [8] - Hongmian Co. is a state-owned enterprise in Guangzhou focusing on daily chemical products [8] - Zhonghuan Hailu produces various industrial metal forgings for multiple sectors [8]

Core Viewpoint - The textile and apparel sector showed significant upward movement on the 26th, with several companies reaching their daily price limits, indicating strong market interest and potential recovery in the sector [1] Group 1: Textile Manufacturing - By 2025, the textile manufacturing and branding sectors faced external pressures, including tariff impacts and macroeconomic challenges, yet leading companies demonstrated strong operational resilience [1] - The gradual easing of tariff disruptions is expected to support long-term growth trends in the manufacturing sector, with positive order outlooks for leading OEMs in 2026, suggesting a potential recovery in profitability [1] - Some leading companies still possess considerable valuation recovery potential, indicating investment opportunities in the manufacturing segment [1] Group 2: Brand Apparel - The brand apparel sector can learn from the experiences of overseas leading brands that successfully navigated the 2008 financial crisis, suggesting that local brands may capitalize on operational improvements during the retail recovery phase [1] - The focus on enhancing internal capabilities during downturns may position local brands favorably to benefit from the anticipated retail recovery [1] Group 3: Outdoor Sports Segment - The outdoor footwear and apparel segment is identified as one of the most promising areas within the industry, showing a trend of accelerated growth [1] - In addition to outdoor footwear and apparel, certain outdoor equipment segments are also experiencing high growth cycles, indicating a robust market environment [1]

Core Viewpoint - The recent annual investment strategy conference held by Shenwan Hongyuan featured an outdoor clothing sale, which attracted attention but was stated to have no significant impact on the conference itself [4][5]. Company Overview - Shenwan Hongyuan hosted its annual investment strategy conference at the Grand Hyatt Hotel in Shanghai, with over 1,900 investors and representatives from 518 listed companies in attendance [8]. - The conference included a main forum and 12 sub-forums covering various core areas such as asset allocation, high-end manufacturing, artificial intelligence, consumption, and cyclical sectors [8]. Market Outlook - The macroeconomic outlook for 2026 suggests that the "15th Five-Year Plan" will accelerate reform dividends, with nominal GDP expected to improve and the economy transitioning from atypical recovery to a virtuous cycle [10]. - The strategy indicates a two-phase bull market for A-shares, with an initial high-level adjustment followed by a comprehensive bull market in the second half of 2026 [10]. - The bond market is anticipated to experience fluctuations, focusing on "asset allocation rebalancing" and "price recovery" as key themes for 2026 [10].

Core Viewpoint - The company is focused on high-end outdoor functional fabrics and apparel, with a commitment to expanding its market presence in Europe [1] Group 1 - The company serves over 50 countries and regions, including the European Union, through direct and indirect clients [1] - The company offers functional fabric products that meet European customer demands, such as lightweight warmth, pilling resistance, anti-static properties, and breathability [1] - The company plans to continue its efforts to explore the European market further [1]

Core Insights - Shanghai Jialinjie Textile Co., Ltd. reported strong financial performance for the first three quarters of 2025, with revenue of 918 million yuan, a year-on-year increase of 3.49%, and a net profit of 56.83 million yuan, representing a significant growth of 213.66% [1] - The company is well-positioned to benefit from national policies aimed at upgrading traditional industries, particularly in the textile and apparel sector, which is being encouraged to evolve towards high-end, intelligent, and green development [2] - Jialinjie has enhanced its core competitiveness through smart and green manufacturing initiatives, including the establishment of a smart factory and recognition as a national-level "green factory" [3] - The company has strengthened its supply chain resilience and global competitiveness by integrating its production processes and collaborating with international brands, which contributes to its market position [4] Financial Performance - For the first three quarters of 2025, Jialinjie achieved an operating income of 918 million yuan, reflecting a 3.49% year-on-year growth [1] - The net profit reached 56.83 million yuan, with a net profit attributable to shareholders of 51.99 million yuan, marking increases of 213.66% and 205.46% respectively [1] - The sales net profit margin improved to 6.19%, indicating a significant enhancement in profitability [1] Industry Trends - The Chinese government has prioritized the construction of a modern industrial system, emphasizing the need for high-end, intelligent, and green development in traditional industries like textiles [2] - Jialinjie's strategic alignment with national policies positions it favorably for growth in the evolving market landscape [2] Competitive Advantages - The company’s smart factory project has been recognized as a "first batch of excellent smart factories," utilizing IoT and digital twin technologies to optimize production processes [3] - Jialinjie is the first company in mainland China to join the Bluesign Alliance and has received multiple international certifications, enhancing its reputation in sustainable manufacturing [3] - The integration of its supply chain from fiber to finished products allows for comprehensive control and innovation, exemplified by its collaboration with PrimaLoft on sustainable fabric solutions [4]

Core Insights - The apparel and home textile sector increased by 0.93% on October 31, with Aokang International leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Stock Performance - Aokang International (603001) closed at 9.01, up 10.01% with a trading volume of 233,400 shares and a transaction value of 205 million yuan [1] - Other notable gainers included: - Jialinjie (002486) at 3.02, up 5.59% [1] - Kute Intelligent (300840) at 19.02, up 4.74% [1] - Bangjie Co. (002634) at 5.08, up 4.10% [1] - Conversely, Meibang Fashion (002269) saw a significant decline of 10.16%, closing at 2.21 with a trading volume of 3,501,900 shares and a transaction value of 780 million yuan [2] Capital Flow - The apparel and home textile sector experienced a net outflow of 101 million yuan from institutional investors and 137 million yuan from speculative funds, while retail investors contributed a net inflow of 239 million yuan [2] - Notable capital flows included: - Langzi Co. (002612) had a net inflow of 51.68 million yuan from institutional investors [3] - Jialinjie (002486) saw a net inflow of 32.02 million yuan from institutional investors [3] - Aokang International (603001) had a net inflow of 28.18 million yuan from institutional investors [3]