浙江六和（温州）律师事务所 法律意见书 浙江六和（温州）律师事务所 关于浙江乔治白服饰股份有限公司 2025 年度第一次临时股东会的法律意见书 致：浙江乔治白服饰股份有限公司 浙江乔治白服饰股份有限公司（以下简称"公司"）2025 年度第一次临时股 东会（以下简称"本次股东会"）现场会议定于 2025 年 9 月 1 日下午 14：30 在浙 江省平阳县昆阳镇平瑞公路 588 号商务楼会议室召开，浙江六和（温州）律师事 务所（以下简称"本所"）接受公司的委托，指派本所律师出席会议，并依据《中 华人民共和国证券法》、《中华人民共和国公司法》、中国证券监督管理委员会 《上市公司股东会规则》和《浙江乔治白服饰股份有限公司章程》（以下简称"《公 司章程》"）出具本法律意见书。 本所律师已经按照有关法律、法规的规定对本次股东会召集、召开程序是否 合法及是否符合《公司章程》、股东会召集人资格的合法有效性、出席会议人员 资格的合法有效性和股东会表决程序、表决结果等发表法律意见。法律意见书中 不存在虚假、严重误导性陈述及重大遗漏，否则愿意承担相应的法律责任。 本所律师是根据对事实的了解和对法律的理解发表法律意见。 浙江六和（ ...

证券代码：002687 证券简称：乔治白 公告编号：2025-029 浙江乔治白服饰股份有限公司 关于 2025 年第一次临时股东会决议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会无变更和否决提案的情形。 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、会议召开的时间： （1）现场会议召开时间：2025 年 9 月 1 日（星期一）下午 14:30。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间： 2025 年 9 月 1 日 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投票的时间：2025 年 9 月 1 日 9:15-15:00 期间的任意时间。 2、现场会议地点：浙江省平阳县昆阳镇平瑞公路 588 号商务楼会议室。 3、会议的召开方式：本次股东会采用现场会议、线上视频及网络投票相结 合的方式召开。 4、会议召集人：公司董事会。 5、会议主持人：董事长因工作原因临时请假，会议经过半数董事选举由副 董事长张凤妹女 ...

证券代码：002687 证券简称：乔治白 公告编号：2022-031 以 上 个 人 简 历 见 公 司 同 日 于 《 上 海 证 券 报 》 和 巨 潮 资 讯 网 （www.cninfo.com.cn）上披露的《关于董事会完成换届选举及聘任高级管理人 员、内部审计部门负责人和证券事务代表的公告》，公告编号：2025-032。 2、逐项审议通过了《关于设立第八届董事会专门委员会及其人员组成的议案》 浙江乔治白服饰股份有限公司 第八届董事会第一次会议决议公告 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、董事会召开情况： 浙江乔治白服饰股份有限公司（以下简称"公司"）于 2025 年 9 月 1 日召 开了公司 2025 年第一次临时股东会及职工代表大会，顺利完成换届选举产生了 公司第八届董事会。为保证公司新一届董事会工作的正常进行，经全体董事同意 豁免本次会议通知期限，会议通知于当日以口头及电话方式向全体董事送达，并 于 2025 年 9 月 1 日以现场结合通讯方式召开。会议由全体董事共同推举池也女 士主持，本次会议应到董事 9 名，实到董事 9 ...

Core Insights - The company George White (002687) reported a total revenue of 524 million yuan for the first half of 2025, reflecting a year-on-year increase of 1.46%, while the net profit attributable to shareholders decreased by 68.09% to 14.56 million yuan [1] Financial Performance - Total revenue for the second quarter of 2025 was 247 million yuan, showing a decline of 7.15% year-on-year [1] - The net profit for the second quarter was -0.94 million yuan, a significant drop of 104.08% year-on-year [1] - The gross margin decreased to 43.62%, down 11.36% year-on-year, while the net margin fell to 2.04%, a decrease of 75.46% [1] - Total operating expenses (sales, management, and financial expenses) amounted to 160 million yuan, accounting for 30.61% of revenue, which is a decrease of 5.16% year-on-year [1] - Earnings per share (EPS) dropped to 0.03 yuan, a decline of 66.67% year-on-year [1] Balance Sheet Highlights - Accounts receivable reached a significant level, with accounts receivable to net profit ratio at 383.8% [1][4] - Cash and cash equivalents increased by 38.84%, attributed to the redemption of financial products [3] - The company’s net asset value per share increased by 4.16% to 2.94 yuan [1] Cash Flow Analysis - The net cash flow from investing activities increased by 5.15%, due to more financial products maturing compared to the previous period [3] - The net cash flow from financing activities surged by 96.31%, influenced by stock buybacks in the previous year [3] Business Model and Performance Metrics - The company's return on invested capital (ROIC) was 5.46%, indicating average capital returns, with a historical median ROIC of 9.38% over the past decade [3] - The company's performance is primarily driven by research and marketing efforts, necessitating a thorough examination of these underlying drivers [3]

Company Overview - George White is a clothing company based in Pingyang County, Zhejiang Province, established on July 31, 2001, and listed on July 13, 2012. The company specializes in the production and sales of professional attire, men's clothing, and casual wear under the "George White" brand [1]. Financial Performance - For the first half of 2025, George White achieved operating revenue of 524 million yuan, representing a year-on-year growth of 1.46%. However, the net profit attributable to shareholders decreased by 68.09% to 14.56 million yuan [2]. - The company has distributed a total of 692 million yuan in dividends since its A-share listing, with 174 million yuan distributed over the past three years [3]. Stock Performance - As of August 27, George White's stock price decreased by 2.07% to 4.74 yuan per share, with a total market capitalization of 2.393 billion yuan. The stock has seen an 8.22% increase year-to-date, but has declined by 2.47% over the last five trading days and 1.86% over the last 20 days [1]. - The stock's trading volume on August 27 was 24.67 million yuan, with a turnover rate of 1.25%. The net outflow of main funds was 1.857 million yuan, with significant selling pressure observed [1]. Shareholder Information - As of August 20, the number of shareholders for George White was 16,900, an increase of 1.10% from the previous period. The average number of circulating shares per person decreased by 1.09% to 24,535 shares [2]. Business Segmentation - The main revenue composition of George White includes: other products (32.66%), shirts (25.73%), tops (23.28%), and trousers (17.33%). Additional income from design fees is minimal at 0.03% [1]. Industry Classification - George White is classified under the textile and apparel industry, specifically in the non-sports clothing segment. The company is associated with concepts such as micro-cap stocks, small-cap stocks, low-priced stocks, share buybacks, and shell resources [1].

Group 1 - The core viewpoint of the article is that George White (002687.SZ) has seen an increase in institutional investor holdings as of August 26, 2025, with a total of 2 institutional investors holding 3.3432 million shares, representing 0.66% of the total share capital [1] - The institutional investor holdings increased by 0.66 percentage points compared to the previous quarter [1] - One new public fund, Chuangjin Hexin Qifu Preferred Stock Initiation A, was disclosed during this period, indicating a slight increase in public fund interest [1] Group 2 - Foreign investment sentiment shows that one new foreign institution, BARCLAYS BANK PLC, disclosed its holdings during this period [1] - The total institutional holding ratio now stands at 0.66%, reflecting a growing interest from institutional investors [1]

Core Points - The company has completed its share repurchase plan, acquiring a total of 20,200,043 shares for future employee stock ownership plans [4][5][8] - The board of directors has approved the 2025 semi-annual report, confirming that it accurately reflects the company's operational status and financial condition [8][9] - The company did not distribute cash dividends or issue new shares during the reporting period [3][4] Company Overview - The company is Zhejiang George White Garment Co., Ltd., with stock code 002687 [6] - The board meeting was held on August 26, 2025, with all directors present, ensuring compliance with legal requirements [7][8] Financial and Operational Highlights - The company has not changed its controlling shareholder or actual controller during the reporting period [5] - The company has no preferred shareholders or related bond issues during the reporting period [4][5] Important Resolutions - The board approved the share repurchase plan on February 5, 2024, and decided to terminate the repurchase ahead of schedule due to the completion of the planned buyback [4][8] - The board also approved the release of restrictions on 719,122 shares for 52 eligible incentive recipients as part of the 2021 restricted stock incentive plan [4][8]

Group 1 - The company reported a revenue of 524 million yuan for the first half of 2025, representing a year-on-year increase of 1.46% [1] - The net profit attributable to shareholders of the listed company was 14.56 million yuan, showing a year-on-year decrease of 68.09% [1] - The net profit attributable to shareholders of the listed company, after deducting non-recurring gains and losses, was 19.53 million yuan, reflecting a year-on-year decline of 19.92% [1]

Core Insights - The company, George White (002687.SZ), reported a revenue of 524 million yuan for the first half of 2025, reflecting a year-on-year growth of 1.46% [1] - The net profit attributable to shareholders of the listed company was 14.56 million yuan, showing a significant decline of 68.09% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 19.53 million yuan, which represents a year-on-year decrease of 19.92% [1] - The basic earnings per share stood at 0.03 yuan [1]

Core Viewpoint - George White (002687.SZ) reported a slight increase in revenue for the first half of 2025, but significant declines in net profit and adjusted net profit [1] Financial Performance - The company achieved operating revenue of 524 million yuan, representing a year-on-year growth of 1.46% [1] - The net profit attributable to shareholders was 14.56 million yuan, a decrease of 68.09% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 19.53 million yuan, down 19.92% year-on-year [1] - Basic earnings per share stood at 0.03 yuan [1]