证券代码：002563 证券简称：森马服饰 公告编号：2025-12 浙江森马服饰股份有限公司 关于召开 2024 年度股东大会的通知 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。 浙江森马服饰股份有限公司（以下简称"公司"、"本公司"）于 2025 年 3 月 28 日召开第六届董事会第十三次会议，审议通过了《召开 2024 年度股东大 会》的议案。现将有关事项通知如下： 一、 召开会议的基本情况 1、股东大会届次：2024 年度股东大会 2、股东大会的召集人：公司董事会 3、会议召开的合法、合规性：公司第六届董事会第十三次会议决议召开本 次股东大会 本次股东大会会议召开符合《中华人民共和国公司法》、《上市公司股东大 会规则》等有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 4、会议召开时间： 网络投票时间：2025 年 5 月 8 日 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 5 月 8 日的交易时间，即 9:15—9:25,9:30—11:30 和 13:00—15:00；通过深圳证 券交易所互联网投票系统 ...

第六届监事会第十二次会议决议公告 本公司及监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。 一、监事会会议召开情况 浙江森马服饰股份有限公司(以下简称"公司")于 2025 年 3 月 28 日在公司会议室召 开第六届监事会第十二次会议，本次会议以现场会议与通讯会议相结合的方式召开。会议 通知已于 2025 年 3 月 18 日以书面及电子邮件的方式向全体监事发出并送达。本次会议由 监事会主席姜捷先生主持，应出席监事 3 人，实际出席监事 3 人。本次会议的召集、召开 符合《中华人民共和国公司法》及《公司章程》的有关规定。 二、监事会会议审议情况 证券代码：002563 证券简称：森马服饰 公告编号:2025-03 浙江森马服饰股份有限公司 1、审议通过《公司 2024 年度监事会工作报告》，并提交股东大会审议。 表决结果：赞成 3 票；反对 0 票；弃权 0 票。 2、审议通过《公司 2024 年度内部控制自我评价报告》。 监事会认为：截至 2024 年底，公司在日常生产经营和重点控制活动已建立内部控制制 度，并能够得到有效的执行。公司董事会出具的《浙江森马服饰股份有限 ...

证券代码：002563 证券简称：森马服饰 公告编号：2025-02 二、董事会会议审议情况 1、审议通过《公司 2024 年度总经理工作报告》。 表决结果：赞成 9 票；反对 0 票；弃权 0 票。 内容详见巨潮资讯网（http://www.cninfo.com.cn）同期披露的《浙江森马服饰股份 有限公司 2024 年度总经理工作报告》。 浙江森马服饰股份有限公司 第六届董事会第十三次会议决议公告 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 浙江森马服饰股份有限公司(以下简称"公司")于 2025 年 3 月 28 日在公司召开第六 届董事会第十三次会议，本次会议以现场与视频通讯表决相结合的方式召开。会议通知已 于 2025 年 3 月 18 日以书面及电子邮件的方式向全体董事发出并送达。 本次会议应出席董事 9 人，实际出席董事 9 人，全体董事以现场或视频通讯方式出席 并表决，会议由董事长邱坚强主持。公司监事及高级管理人员列席本次会议。本次会议的 召开符合《中华人民共和国公司法》与其他法律、行政法规、部门规章、规范性文件及公 ...

证券代码：002563 证券简称：森马服饰 公告编号：2025-11 在本分配预案实施前，公司总股本由于股份回购等原因而发生变化的，分配 比例将保持不变。公司保证考虑未来股本变动后的预计分配总额不会超过财务报 表上可供分配的范围。 浙江森马服饰股份有限公司 2024 年度利润分配预案 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、审议程序 浙江森马服饰股份有限公司（以下简称"公司"、"本公司"）于 2025 年 3 月 28 日召开第六届董事会第十三次会议，审议通过了《公司 2024 年度利润分 配预案》（表决结果：赞成 9 票；反对 0 票；弃权 0 票）。同日，公司召开第六 届监事会第十二次会议，审议通过了《公司 2024 年度利润分配预案》（表决结 果：赞成 3 票；反对 0 票；弃权 0 票）。 本次利润分配方案尚需提交公司 2024 年度股东大会审议。 二、利润分配和资本公积金转增股本方案的基本情况 根据立信会计师事务所（特殊普通合伙）出具的信会师报字[2025]第 ZF10092 号《审计报告》，公司 2024 年度实现归属于上市公司股东的净 ...

Summary of Key Points from Conference Call Industry Overview - The conference call primarily discusses the **apparel and home textile industry** in China, with a focus on retail performance and emerging trends in consumer behavior [2][4][6]. Core Insights and Arguments - **Retail Performance**: In January-February 2025, retail sales of clothing, shoes, and textiles from key enterprises increased by **3.3% year-on-year**, showing improvement compared to declines of **4.5%** in November 2024 and **0.3%** in December 2024. This indicates a recovery in the apparel and home textile consumption [2][3]. - **Online vs. Offline Sales**: Offline retail is outperforming online sales, suggesting a shift in consumer preference towards physical shopping experiences [2]. - **Children's Apparel Market**: The introduction of child-rearing subsidies in Hohhot is expected to positively impact the children's clothing market, with approximately **33 provinces and cities** implementing similar policies. In 2021, clothing and footwear accounted for **26%** of the maternal and infant consumption market, indicating significant growth potential in children's apparel [6]. - **Discount Retail Sector**: The discount retail sector is thriving, with strategic partnerships, such as that between **Hailan Home** and **JD.com**, expected to drive growth. The government’s consumer stimulus policies are also beneficial for the apparel and home goods sectors [7][9]. - **Investment Recommendations**: Companies like **Semir Apparel**, which leads in the children's clothing market, are recommended due to their strong brand positioning and expansion strategies. Other notable companies include **Anta Sports**, **Li Ning**, and **361 Degrees**, which have significant children's apparel lines [8]. Emerging Trends - **Demand for UHMWPE**: The demand for **Ultra-High-Molecular-Weight Polyethylene (UHMWPE)** is projected to grow at approximately **20% annually**, with applications expanding across various sectors. Companies involved in UHMWPE production, such as **Nanshan Zhishang** and **Henghui Security**, are recommended for investment [4][5]. - **Consumer Behavior**: There is a notable trend towards value-for-money products, with consumers increasingly seeking high-quality items at lower prices, particularly in the apparel sector [9]. - **Social Consumption Trends**: The total retail sales of consumer goods in January-February 2025 grew by about **4% year-on-year**, indicating a stabilization in consumer spending [2][10]. Additional Important Insights - **Market Dynamics**: The apparel and home textile industry is expected to see a gradual acceleration in performance due to low base effects from previous years, despite potential fluctuations in end-demand [4]. - **Investment Strategy**: The focus should be on companies that can adapt to changing consumer preferences, particularly those that emphasize quality and affordability. The potential for growth in the children's apparel segment is significant, driven by demographic policies and changing consumer habits [6][8]. - **Discount Retail Viability**: The discount retail model is positioned to thrive in economic downturns, as consumers become more price-sensitive. This sector is expected to benefit from existing inventory pressures among apparel brands [9]. This summary encapsulates the key points discussed in the conference call, highlighting the current state and future outlook of the apparel and home textile industry in China.

行 业 研 究 行业周报 [Table_MainInfo] 加力支持以旧换新，关注扩大内需细分领域机会 | ――轻工制造&纺织服饰行业周报 | 分析师： | 袁艺博 | SAC NO： | 年 | 月 | 日 | S1150521120002 | 2025 | 3 | 10 | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | [Table_Author] | 证券分析师 | [Table_Summary] | 投资要点： | 袁艺博 | | | | | | | | | | | | | | | | | | | | 行业要闻 | 022-23839135 | yuanyb@bhzq.com | | | | | | | | | | | | | | | | | | | | | | （1）纸厂惊现千元涨价函，上一次还是两年前。 | [Tab ...

Fixed Income - The forecast for February 2025 predicts new loans of 1 trillion yuan and social financing of 2.5 trillion yuan, with M2 reaching 320.6 trillion yuan and a year-on-year growth of 7.0% [2][10] - The social financing growth rate is expected to be 8.3%, with a potential recovery in the growth rate later in the year [11][12] - The report anticipates a stable economic outlook for 2025, with a possible small rebound in 2026, and predicts the 10Y/30Y government bond yields to peak at 1.9%/2.2% in 2025 [13] Pharmaceutical Industry - Kelun Pharmaceutical (002422.SZ) - Kelun Pharmaceutical is recognized as a successful representative of the transition from generic to innovative drugs, with a cumulative R&D investment of nearly 11.9 billion yuan from 2014 to 2023 [14][15] - The company has entered the global market for innovative drugs, with significant potential for future growth, particularly through its ADC research platform and partnerships with major pharmaceutical companies [16] - The antibiotic intermediate sector is expected to maintain a stable supply-demand balance, while the intravenous infusion market is projected to grow steadily due to aging demographics [17][18] Public Utilities - China Resources Gas (01193.HK) - China Resources Gas is positioned as a leading city gas provider, focusing on projects in first- and second-tier cities, benefiting from its strategic location [21][22] - The company has reduced its reliance on connection services, with growth in comprehensive services and energy solutions supporting its profitability [23] - The report highlights a significant increase in operating cash flow and a low debt ratio, indicating strong financial health and potential for dividend growth [24][25] New Energy - Mingyang Technology (837663.BJ) - Mingyang Technology is identified as a national-level specialized manufacturer in automotive seat components, with an expected net profit growth of 18.66% in 2024 [27][28] - The company is benefiting from the trend of electrification and intelligence in the automotive industry, with a projected increase in the value of seat components [29] - The report emphasizes the potential for growth in the assembly business, which is expected to become a significant revenue driver [30][31] New Consumption - Semir Apparel (002563.SZ) - Semir Apparel focuses on casual and children's clothing, with its brands ranking among the top in their respective markets [34][35] - The company is enhancing operational efficiency and product appeal through strategic partnerships and brand collaborations, leading to improved profit margins [35] - The report forecasts steady growth in net profit from 2024 to 2026, supported by a strong market position and multi-brand strategy [36] New Consumption - Bairun Co., Ltd. (002568.SZ) - Bairun Co., Ltd. is a leading player in the ready-to-drink (RTD) beverage market, with a market share exceeding 73% in 2023 [38][39] - The growth of the RTD market is driven by expanding consumer demographics and innovative product offerings [40] - The company is expected to maintain its market leadership and continue to grow its net profit from 2024 to 2026 [41]

证券研究报告 纺织服饰 | 服装家纺 非金融|首次覆盖报告 hyzqdatemark 2025 年 03 月 05 日 证券分析师 丁一 SAC：S1350524040003 dingyi@huayuanstock.com 周宸宇 zhouchenyu@huayuanstock.com 市场表现： | 基本数据 | | 2025 | 年 | | 日 | | 月 | 03 | | | | 03 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收盘价（元） | | | | 6.28 | | | | | | | | | | 一 年 最 | 高 | | | 7.48/4.34 | | / | | | 低 | 内 | 最 | | | （元） | | | | | | | | | | | | | | 总市值（百万元） | | | | 16,918.89 | | | | | | | | | | 流通市值（百万元） | | | | 13,869.02 | | | | | | | | | | 总股本（百万股） ...

证券代码：002563 证券简称：森马服饰 公告编号：2025-01 浙江森马服饰股份有限公司 关于公司股东股份解除质押及质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，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"）近日接到股东邱坚强先生 的通知，获悉邱坚强先生所持有本公司的部分股份办理了解除质押及质押，具体 事项如下： 一、股东股份解除质押及质押情况 | 股东名 称 | 是否为控股 股东或第一 | 本次解除质 | 占其所持 | 占公司 总股本 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | | 大股东及其 | 押股份数量 | 股份比例 | | | | | | | 一致行动人 | | | 比例 | | | | | 邱坚强 | 是 | 53,000,000 | 14.75% | 1.97% | 2022 年 2 月 | 2025 年 2 | 中国银河证券股 | | | | | | | 24 日 | 月 7 日 | 份有限公司 | | | | 10,000, ...

证券代码：002563 证券简称：森马服饰 公告编号：2024-42 浙江森马服饰股份有限公司 关于公司股东股份解除质押及质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，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"）近日接到股东邱坚强先生 的通知，获悉邱坚强先生所持有本公司的部分股份办理了解除质押及质押，具体 事项如下： 一、股东股份解除质押及质押情况 1、股东股份解除质押基本情况 | 股东名 | 是否为控股 股东或第一 | 本次解除质 | 占其所持 | 占公司 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 大股东及其 | 押股份数量 | 股份比例 | 总股本 比例 | 起始日 | 解除日期 | 质权人 | | | 一致行动人 | | | | | | | | 邱坚强 | 是 | 28,000,000 | 7.79% | 1.04% | 2022年12月 | 2024年12 | 中国银河证券股 | | | | | | | 19 日 | 月 18 日 | 份有限公司 | | ...