运动·快乐·梦想 证券代码：002780 证券简称：三夫户外 公告编号：2025-067 北京三夫户外用品股份有限公司 关于召开 2025 年第六次临时股东会的通知 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。 一、 召开会议的基本情况 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 11 月 13 日 9:15～ 9:25，9:30～11:30 13:00～15:00； 通过深圳证券交易所互联网投票系统进行投票的具体时间为 2025 年 11 月 13 日 9:15 至 15:00 的任意时间。 2025 年 11 月 6 日下午收市时在中国证券登记结算有限公司深圳分公司登记在册的公 司全体普通股股东均有权出席股东会，并可以以书面形式委托代理人出席会议和参加表 决，该股东代理人不必是本公司股东（授权委托书模板详见附件 3）。 第 1 页 共 6 页 | | | | 备注 | | --- | --- | --- | --- | | 提案编码 | 提案名称 | 提案类型 | 该列打勾的栏 | | | | | 目可以投票 | | 100 | 总 ...

运动·快乐·梦想 一、 董事会会议召开情况 北京三夫户外用品股份有限公司（以下简称"公司"）于2025年10月21日以电子邮件方式 向全体董事发出召开第五届董事会第十九次会议通知，会议于2025年10月27日以通讯方式召 开，会议由董事长张恒主持，应出席董事7名，实际出席董事7名，其中张恒先生、孙雷先生、 李继娟女士、何枫先生以现场方式参加会议，其他董事均以通讯方式参加会议。公司高级管 理人员列席了会议。会议的召集和召开符合《中华人民共和国公司法》和《北京三夫户外用 品股份有限公司章程》的有关规定，会议合法、有效。 二、 董事会会议审议情况 （一） 以7票同意，0票反对，0票弃权，一致通过《关于<2025年第三季度报告>的议案》 经审核，董事会认为：公司《2025年第三季度报告》所载信息真实、准确、完整，不存 在任何虚假记载、误导性陈述或者重大遗漏。 《2025年第三季度报告》内容详见巨潮资讯网（www.cninfo.com.cn）。 证券代码：002780 证券简称：三夫户外 公告编号：2025-063 北京三夫户外用品股份有限公司 第五届董事会第十九次会议决议公告 本公司及董事会全体成员保证信息披露的内容 ...

Financial Performance - The company's revenue for Q3 2025 reached ¥207,153,876.22, representing a year-over-year increase of 20.74%[4] - Net profit attributable to shareholders was ¥4,395,233.33, a significant increase of 1,033.98% compared to the same period last year[4] - The net profit after deducting non-recurring gains and losses was ¥3,712,990.74, reflecting a remarkable increase of 2,934.77% year-over-year[4] - Total operating revenue for the current period reached ¥585,037,372.28, an increase of 17.0% compared to ¥499,869,101.05 in the previous period[18] - Operating profit for the current period was ¥26,377,535.16, significantly up from ¥1,938,485.12 in the previous period[19] - Net profit attributable to shareholders of the parent company was ¥21,214,576.98, a substantial increase of 147.5% from ¥8,562,371.98 in the previous period[19] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥1,163,357,198.21, an increase of 4.69% from the end of the previous year[4] - Total current assets amounted to CNY 728.06 million, up from CNY 673.58 million at the beginning of the period[15] - Total non-current assets were CNY 435.30 million, slightly down from CNY 437.67 million at the start of the period[16] - Total assets increased to CNY 1,163.36 million from CNY 1,111.25 million[16] - Total liabilities rose to CNY 523.04 million, compared to CNY 489.47 million previously[16] - Owner's equity remained stable at CNY 157.59 million[16] - Total assets and equity reached ¥1,163,357,198.21 and ¥640,313,256.64 respectively, showing growth from ¥1,111,251,437.24 and ¥621,778,393.17 in the previous period[17] Earnings and Profitability - The company's basic earnings per share for the period was ¥0.0279, up 1,016.00% compared to the same period last year[4] - The company achieved a basic earnings per share of ¥0.1346, up from ¥0.0543 in the previous period, reflecting improved profitability[19] Cash Flow - The net cash flow from operating activities increased by 82.21% year-over-year, attributed to higher cash receipts from sales of goods and services[9] - The company reported a net cash outflow from operating activities of ¥10,707,435.24, an improvement from a net outflow of ¥60,177,820.10 in the previous period[22] - Cash and cash equivalents at the end of the period were ¥33,414,563.53, down from ¥50,143,263.77 at the end of the previous period[22] Research and Development - Research and development expenses decreased by 32.49% year-over-year, primarily due to reduced project investments in the previous year[8] - Research and development expenses decreased to ¥8,511,150.34 from ¥12,606,483.95, indicating a reduction in investment in this area[18] Other Income and Investments - Other income increased by 211.25% year-over-year, mainly due to an increase in government subsidies received during the reporting period[8] - Long-term equity investments increased by 43.02% compared to the beginning of the year, mainly due to recognized investment income from a subsidiary[7] - The company reported an investment income of ¥16,025,449.28, an increase from ¥10,998,384.86 in the previous period, indicating better performance in its investment activities[18] Brand Performance - X-BIONIC brand achieved revenue of CNY 213.54 million, a year-on-year increase of 34.62%[14] - HOUDINI brand reported revenue of CNY 65.74 million, up 110.09% year-on-year[14] - CRISPI brand generated revenue of CNY 66.87 million, reflecting a 12.32% increase compared to the previous year[14] - MYSTERY RANCH brand's revenue reached CNY 42.63 million, a 22.78% year-on-year growth[14] - LA SPORTIVA brand saw revenue of CNY 26.30 million, increasing by 45.28% year-on-year[14] Miscellaneous - The company reported a 3915.94% increase in asset disposal income, primarily from the disposal of right-of-use assets during the reporting period[8] - The third quarter financial report of Beijing Sanfu Outdoor Products Co., Ltd. is unaudited[24]

Core Insights - The outdoor apparel industry in China has evolved through three distinct phases: the nascent stage, rapid development stage, and transformation and upgrading stage, driven by the increasing popularity of outdoor activities such as skiing, hiking, and climbing [1][4]. Industry Overview - The market size of China's professional outdoor apparel industry is projected to grow from 71.2 billion yuan in 2020 to 131.9 billion yuan in 2024, with expectations to exceed 160 billion yuan by 2025 [1][4]. - Professional outdoor apparel is categorized into sportswear, functional apparel, and fashion apparel, with functional apparel further divided into high-performance outdoor apparel and other functional apparel [2]. Industry Development Status - The demand for outdoor apparel continues to rise, leading to an expanding industry scale [4]. - The industry is supported by a comprehensive supply chain, including raw materials (such as polyester and nylon), production and brand operation, and various sales channels including both offline and online platforms [5]. Competitive Landscape - The Chinese outdoor apparel market features a competitive landscape comprising international brands, leading domestic brands, and emerging brands, with significant growth in domestic brands due to technological innovations [5][6]. - Major companies in the market include Beijing Sanfu Outdoor Products Co., Ltd., Guangzhou Kailas Sports Technology Co., Ltd., and Toread Holdings Group Co., Ltd., among others [5][6]. Key Companies - Beijing Sanfu Outdoor Products Co., Ltd. focuses on outdoor product development and retail, reporting a revenue of 455 million yuan in 2024, accounting for 56.81% of total revenue [6]. - Toread Holdings Group Co., Ltd. achieved sales of 5.5479 million outdoor apparel items in 2024, generating a revenue of 1.059 billion yuan [7]. - MobiGarden, known for its high-performance outdoor gear, produced 734,700 outdoor apparel items in 2024, with sales of 669,100 items [8]. Industry Development Trends - The outdoor apparel market is experiencing rapid growth driven by young consumer power and significant market potential, with a shift towards high-quality development characterized by fashionable and intelligent products [8].

Group 1 - The core point of the news is that Sanfu Outdoor has announced that Zhang Heng has pledged approximately 9.05 million shares, accounting for 27.7% of his total holdings [1] - As of the announcement date, Sanfu Outdoor's revenue composition for the first half of 2025 is 95.93% from outdoor products and 4.07% from outdoor services [1] Group 2 - Sanfu Outdoor's market capitalization is reported to be 2.3 billion yuan [2] - The Chinese innovative drug sector has seen overseas licensing sales reach 80 billion USD this year, indicating a hot secondary market for biomedicine [2]

运动·快乐·梦想 证券代码：002780 证券简称：三夫户外 公告编号：2025-062 北京三夫户外用品股份有限公司 | | | | 本次质押 | 本次质押后 | 占其所 | 占公司 | 已质押股份情况 | | 未质押股份情况 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 名称 | 持股数量 （股） | 持股 比例 | 前质押股 | 质押股份数 | 持股份 | 总股本 | 已质押 | 占已质 | 未质押股份 | | 占未质 | | | | | 份数量 | 量（股） | 比例 | 比例 | 股份限 | 押股份 | 限售数量 | | 押股份 | | | | | | | | | 售数量 | 比例 | | | 比例 | | 张恒 | 32,676,248 | 20.74% | | 0 9,052,000 | 27.70% | 5.74% | 0 | 0.00% | | 0 | 0.00% | | 合计 | 32,676,248 | 20.74% | | 0 9,052,000 | 27.70% ...

Market Overview - A-shares experienced fluctuations with a decrease in trading volume, totaling 1.06 trillion yuan, down 39.3 billion yuan from the previous trading day, with over 3,800 stocks declining [1] Sector Performance - The coal sector showed resilience, with major stocks like Dayou Energy hitting the limit up for the eighth consecutive day, and others like Zhengzhou Coal Power and Liaoning Energy achieving two limit ups in four days [1][3] - Local stocks in Shenzhen surged, with companies such as Jian Ke Yuan and Guangtian Group reaching limit up [2] - The computing hardware sector faced significant declines, particularly in CPO concept stocks, with Tianfu Communication and Changfei Optical Fiber experiencing substantial drops [1] Ice and Snow Industry - The ice and snow industry concept stocks saw rapid increases, with Dalian Shengya achieving two limit ups in four days, driven by a strong cold air mass affecting temperatures across the country [4] - A report indicated that the scale of China's ice and snow industry is expected to exceed 1 trillion yuan by 2025, reaching 1,005.3 billion yuan [4] Media Sector - The media and short drama sectors showed strength, with Hai Kan Co. and Huanrui Century hitting limit up, and several stocks rising over 3% [5] - iQIYI announced a new cooperation plan for short dramas, offering a revenue-sharing model with a 70% exclusive share and a 50% non-exclusive share [5] Banking Sector - The banking sector opened strong but later saw a narrowing of gains, with Postal Savings Bank rising over 4% [6] - Guotai Junan Securities projected a 0.4% and 1.1% year-on-year growth in revenue and net profit for listed banks in the first three quarters of 2025, respectively, with city commercial banks expected to lead in performance growth [6] - CITIC Securities highlighted that the fourth quarter of 2025 may present a key opportunity for dividend stock positioning, as current pessimistic expectations may have been fully reflected [6]

Market Overview - On October 23, A-shares experienced fluctuations and adjustments, with trading volume shrinking again, totaling 1.06 trillion yuan, a decrease of 39.3 billion yuan compared to the previous trading day. Over 3,800 stocks declined [1] - The Shanghai Composite Index closed at 3,888.08, down 25.67 points or 0.66%, while the Shenzhen Component Index fell by 112.71 points or 0.87% [2] Sector Performance - The coal sector showed resilience, with major stocks like Daqo Energy hitting the limit up for eight consecutive trading days, and several stocks such as Zhengzhou Coal and Electricity and Liaoning Energy achieving two limit-ups in four days [2] - Conversely, the computing hardware sector faced significant declines, particularly CPO concept stocks, with Tianfu Communication and Changfei Optical Fiber experiencing substantial drops [3] Local Market Developments - Shenzhen local stocks surged, with companies like Jian Ke Yuan, Guangtian Group, and Shen Saige hitting the limit up, leading to a collective rise in local stocks [3] - A new action plan was issued by Shenzhen to promote high-quality mergers and acquisitions, aiming for a total market value of listed companies to exceed 20 trillion yuan by the end of 2027, and to complete over 200 merger projects with a total transaction value exceeding 100 billion yuan [5] Industry Trends - The ice and snow industry concept stocks saw rapid increases, with Dalian Shengya achieving two limit-ups in four days, alongside other stocks like Changbai Mountain and Sanfu Outdoor rising [6] - The media and short drama sectors continued to strengthen, with stocks like Haikan Co. and Huanrui Century hitting the limit up, while several others rose over 3% [6] Banking Sector Insights - The banking sector opened strong but later narrowed gains, with Postal Savings Bank rising over 4% and other banks like Industrial Bank and Minsheng Bank following suit [8] - According to Guotai Junan Securities, the cumulative revenue and net profit of listed banks are expected to grow by 0.4% and 1.1% year-on-year, respectively, in the first three quarters of 2025, driven by a narrowing decline in net interest margins and reduced credit costs [9] Investment Strategy - CITIC Securities indicated that the fourth quarter of 2025 may be a critical time for bottom-fishing dividend stocks to achieve excess returns, as current pessimistic expectations may have been fully reflected in the market [10]

Core Viewpoint - The A-share market has seen a significant rise in ice and snow economy concept stocks, driven by the recent International Winter Sports Expo held in Beijing, which forecasts the ice and snow industry in China to exceed 1 trillion yuan by 2025 [1][2]. Group 1: Stock Performance - Changbaishan (603099) reached its daily limit up, while Dalian Shengya (600593) previously hit its limit up, indicating strong investor interest in these stocks [1]. - Iceberg Cold Chain (000530) increased by nearly 8%, and Tianfu Culture Tourism (000558) rose by 5%, showcasing a positive trend in the sector [1]. - Other notable performers include Tibet Tourism (600749), Sanfu Outdoor (002780), and Xiyu Tourism (300859), all of which saw gains exceeding 3% [1]. Group 2: Market Data - Dalian Shengya (600593) has a market capitalization of 5.381 billion yuan and a year-to-date increase of 15.16% [2]. - Changbaishan (603099) has a market cap of 13.9 billion yuan with a year-to-date increase of 24.30% [2]. - The ice and snow industry is projected to welcome 817,000 inbound tourists during the 2024-2025 snow season, reflecting growing interest and investment in this sector [2].

Core Viewpoint - Sanfu Outdoor (002780) announced that the company and its controlling subsidiaries have no overdue guarantees and are not involved in any litigation related to guarantees [1] Group 1 - The company has confirmed the absence of overdue guarantees [1] - There are no ongoing litigations concerning guarantees involving the company or its subsidiaries [1]