行 行业周报 业 头部纸企白卡纸提价，去年国内消费市场稳增长 研 ——轻工制造&纺织服饰行业周报 | 究 | 分析师： | 袁艺博 | SAC | NO： | S1150521120002 | 2026 年 | 01 | 月 | 26 | 日 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 轻工制造 | | 投资要点： | | | | | | | | | | 纺织服饰 | | | | | | | | | | | | | | 行业要闻  | | | | | | | | | | 证券分析师 | | （1）200 | | 元/吨，多家白卡纸巨头将在春节后涨价。 | | | | | | | | 袁艺博 | | | | | | | | | | | | yuanyb@bhzq.com 022-23839135 | | （2）泡泡玛特本周连续回购股份，累计金额近 | | 3.5 | 亿港元。 | | | | | | | 研子究行助业理评级 | | 重要公司公告  | | | | | | | | | | 家居用品 | 中性 ...

截至本公告日，刘海波先生未持有公司股份。刘海波先生不存在未履行完毕的公开承诺事项。 公司董事会对刘海波先生在担任公司独立董事期间尽职勤勉、辛勤付出及为公司健康发展所作出的杰出 贡献表示衷心感谢！ 浙江森马服饰股份有限公司董事会 关于公司独立董事离任的公告 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 浙江森马服饰股份有限公司(以下简称"公司")董事会近期收到公司独立董事刘海波先生送达书面申请： 刘海波先生因其个人原因，申请辞去公司独立董事职务及提名委员会委员职务。 刘海波先生原定任职期间为2025年12月25日至2028年12月24日，根据《公司法》《公司章程》相关规 定，刘海波先生的辞职不会导致公司董事会人数低于法定最低人数，不会对公司日常经营管理造成重大 影响。刘海波先生的离任申请将在公司选举产生新任独立董事后生效。刘海波先生离任生效后，将不再 在公司担任任何职务。在此期间，刘海波先生仍将按规定继续履行相关职责。公司将尽快完成新任独立 董事的提名及选举程序。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002563 证券简称：森马服饰 公告 ...

证券代码：002563 证券简称：森马服饰 公告编号：2026-01 董事会 浙江森马服饰股份有限公司 二〇二六年一月二十三日 关于公司独立董事离任的公告 截至本公告日，刘海波先生未持有公司股份。刘海波先生不存在未履行完毕的公开承 诺事项。 公司董事会对刘海波先生在担任公司独立董事期间尽职勤勉、辛勤付出及为公司健康 发展所作出的杰出贡献表示衷心感谢！ 浙江森马服饰股份有限公司 本公司及董事会全体成员保证信息披露内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 浙江森马服饰股份有限公司(以下简称"公司")董事会近期收到公司独立董事刘海波 先生送达书面申请：刘海波先生因其个人原因，申请辞去公司独立董事职务及提名委员会 委员职务。 刘海波先生原定任职期间为 2025 年 12 月 25 日至 2028 年 12 月 24 日，根据《公司法》 《公司章程》相关规定，刘海波先生的辞职不会导致公司董事会人数低于法定最低人数， 不会对公司日常经营管理造成重大影响。刘海波先生的离任申请将在公司选举产生新任独 立董事后生效。刘海波先生离任生效后，将不再在公司担任任何职务。在此期间，刘海波 先生仍将按规定继续履行相关 ...

每经AI快讯，1月22日，森马服饰公告，公司董事会近期收到独立董事刘海波先生送达的书面申请，刘 海波先生因其个人原因，申请辞去公司独立董事职务及提名委员会委员职务。刘海波先生原定任职期间 为2025年12月25日至2028年12月24日，其离任申请将在公司选举产生新任独立董事后生效。离任生效 后，刘海波先生将不再在公司担任任何职务。在此期间，刘海波先生仍将按规定继续履行相关职责。截 至本公告日，刘海波先生未持有公司股份，不存在未履行完毕的公开承诺事项。 ...

森马服饰公告称，公司董事会收到独立董事刘海波书面申请，因其个人原因，申请辞去独立董事及提名 委员会委员职务。原定任职期为2025年12月25日至2028年12月24日，辞职不会使董事会人数低于法定最 低人数，也不影响日常经营。离任申请将在选出新任独立董事后生效，生效前刘海波将继续履职。截至 公告日，其未持股，无未履行承诺。公司将尽快完成新独立董事提名及选举。 ...

Investment Rating - The investment rating for the light industry manufacturing and textile apparel sectors is "Neutral" [5][52]. Core Insights - The report emphasizes the cultivation of service consumption, with sports events and IP+ consumption expected to benefit directly from new policies aimed at boosting service consumption [4][51]. - Recent government measures, including the "Several Measures to Promote the Quality Improvement and Efficiency Enhancement of the Service Industry" in Shanghai, aim to stimulate service consumption and enhance supply quality [12][51]. - The report highlights the expected performance of key companies, with Jia Mei Packaging forecasting a decline in net profit for 2025 by 43.02%-53.38%, while Wo Le Home is expected to see a growth of 40.78%-56.42% in the same period [41][42]. Industry News - The State Council is focusing on accelerating the cultivation of new growth points in service consumption, particularly in sectors like transportation, home services, performances, and sports events [4][12]. - The Shanghai government has introduced 28 measures targeting six key industries to enhance service quality and stimulate consumption [12][51]. Important Company Announcements - Jia Mei Packaging anticipates a significant decline in net profit for 2025, projecting a profit of 85.44 million to 104.42 million yuan, a decrease of 43.02%-53.38% year-on-year [41]. - Wo Le Home expects a net profit increase for 2025, estimating a profit of 171 million to 190 million yuan, representing a growth of 40.78%-56.42% year-on-year [41]. Market Review - From January 12 to January 16, the light industry manufacturing sector underperformed the CSI 300 index by 0.54 percentage points, while the textile apparel sector outperformed it by 0.02 percentage points [2][42]. - The light industry manufacturing index decreased by 1.11%, while the textile apparel index decreased by 0.55% during the same period [2][42]. Weekly Strategy - The report suggests continuous attention to sectors benefiting from the new service consumption policies, particularly in sports equipment, athletic apparel, and related fields [4][51].

Group 1 - The core transaction of Semir Apparel on January 19 involved a block trade of 370,000 shares, amounting to 2.0017 million yuan, with a transaction price of 5.41 yuan, reflecting a premium of 0.19% over the closing price [1][2] - In the last three months, Semir Apparel has recorded a total of two block trades, with a cumulative transaction amount of 4.0573 million yuan [2] - The closing price of Semir Apparel on the day of the transaction was 5.40 yuan, showing an increase of 0.56%, with a daily turnover rate of 0.84% and a total trading volume of 100 million yuan [2] Group 2 - The latest margin financing balance for Semir Apparel is 230 million yuan, which has decreased by 11.7026 million yuan over the past five days, representing a decline of 4.85% [3] - Semir Apparel was established on February 5, 2002, with a registered capital of 2.69409 billion yuan [3]

Group 1 - On January 19, Semir Apparel executed a block trade of 370,000 shares, with a transaction value of 2.0017 million yuan, accounting for 1.96% of the total trading volume for the day [1] - The transaction price was 5.41 yuan per share, which represents a premium of 0.19% compared to the market closing price of 5.40 yuan [1][2] - The buyer and seller for this transaction were both from Everbright Securities Co., Ltd., specifically from the Ningbo Liuting Street Securities Department [2]

Core Insights - The article discusses the transformation of visual design in e-commerce through AI technology, emphasizing the need for designers to adapt to commercial demands and enhance their skills to meet the challenges of the smart e-commerce era [1] Group 1: Design as a Service - The concept of "Design as a Service" has been established to focus on how design can drive business value, moving beyond traditional roles of designers as mere executors [3] - Designers are now seen as key players in maximizing brand value through visual elements such as image presentation, layout, and brand aesthetics [3] Group 2: User-Centric Visual Experience - The core principle driving growth in e-commerce visual marketing is a user-centric approach, which includes five key aspects: shooting style, store design, main images and product detail pages, live broadcast visuals, and product feature exploration [3][5] - The first aspect focuses on the sensory experience of images, while the second emphasizes optimizing store layouts for better user interaction [3] Group 3: Role of AIGC in Design - AIGC is viewed as a creative partner rather than just an efficiency tool, significantly reducing the time required for product launches from 15 days to 7 days and replacing 30%-40% of traditional shooting tasks [5] - This technology allows designers to focus on core creative tasks rather than repetitive execution, enhancing their role in the design process [5] Group 4: Future of Visual Experience - The future of visual experience in fashion e-commerce is expected to evolve towards immersive experiences through digital technologies, such as virtual influencers and 3D visualizations [5] - These advancements aim to address the "screen barrier" by providing users with a more realistic perception of products [5] Group 5: Skills for New Designers - Key skills for the new generation of visual marketing designers include the ability to interpret user needs, project management, team collaboration, and continuous innovation [6] - Understanding user scenarios and maintaining effective communication across departments are highlighted as essential for success in the industry [6]

Core Viewpoint - Semir Apparel (002563) emphasizes its dual brand strategy, focusing on adult casual wear under the Semir brand and children's clothing under the Balabala brand, while encouraging engagement through various online and offline activities [1] Brand Engagement - The company promotes its brands through multiple digital platforms, including WeChat public accounts, mini-programs, Xiaohongshu, and Weibo, to enhance customer interaction [1] - Specific activities include the weekly "Fan Day" on Thursdays and creative online events themed around the Year of the Horse, such as "Find the 'Horse' Online" and "Creative 'Horse' Exhibition" [1] Offline Experience - Semir brand has launched the "Year of the Horse is Hot" membership experience in physical stores, inviting customers to participate and experience the brand firsthand [1]