证券代码：002832 证券简称：比音勒芬 公告编号：2025-021 比音勒芬服饰股份有限公司 关于使用闲置自有资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 比音勒芬服饰股份有限公司（以下简称"公司"）于 2024 年 9 月 29 日召开 第五届董事会第五次会议、第五届监事会第四次会议，会议审议通过了《关于增 加使用闲置自有资金进行现金管理额度的议案》，同意公司及子公司在不影响正 常生产经营和确保资金安全的情况下，使用不超过人民币 24 亿元的闲置自有资 金进行现金管理。此次审议的现金管理额度期限自董事会通过之日起 12 个月内 有效，在上述额度及有效期内，资金可滚动使用。具体内容详见 2024 年 9 月 30 日公司指定信息披露媒体《证券时报》《中国证券报》《上海证券报》《证券日报》 和巨潮资讯网（www.cninfo.com.cn）的相关公告。 一、购买理财产品的基本情况 公司与上表所列受托方无关联关系。 二、风险控制措施 尽管公司会选择低风险理财产品投资，但金融市场受宏观经济的影响较大， 不排除该项投资受到市场波动的影 ...

5月23日，比音勒芬的资金流向显示，主力资金净流入168.1万元；游资资金净流入163.11万元；散户资 金净流出331.21万元。 截至2025年5月23日收盘，比音勒芬(002832)报收于16.28元，下跌1.51%，换手率2.25%，成交量8.76万 手，成交额1.44亿元。 当日关注点 交易信息汇总 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 交易信息汇总：5月23日，比音勒芬主力资金净流入168.1万元，游资资金净流入163.11万元，而散 户资金净流出331.21万元。 公司公告汇总：比音勒芬最近购买了一款由上海浦东发展银行提供的20,000万元人民币的保本浮 动收益型理财产品，预期年化收益率为0.85%-2.25%。 公司公告汇总 比音勒芬服饰股份有限公司第五届董事会第五次会议、第五届监事会第四次会议审议通过了《关于增加 使用闲置自有资金进行现金管理额度的议案》，决定公司及子公司使用不超过人民币24亿元的闲置自有 资金进行现金管理，期限自董事会通过之日起12个月内有效，资金可滚动使用。公司最近购买的理财产 品详情 ...

证券代码：002832 证券简称：比音勒芬 公告编号：2025-020 比音勒芬服饰股份有限公司 关于使用闲置自有资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 | 受托方 | 产品名称 | | 产品类 | 金额 | 起息日 | 到期日 | 预期年化收益 | 资金来源 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 型 | （万元） | | | 率 | | | 上海浦东 | 利多多公司稳 | | | | | | | | | 发展银行 | 利 | 25JG6899 | 保本浮 | | 2025.5. | 2025.8 | | | | 股份有限 | 期（三层看涨） | | 动收益 | 20,000 | 22 | .21 | 0.85%-2.25% | 自有资金 | | 公司广州 | 人民币对公结 | | 型 | | | | | | | 东湖支行 | 构性存款 | | | | | | | | 一、购买理财产品的基本情况 公司与上表所列受托方无关联关系。 二 ...

Core Viewpoint - The report by China Galaxy Securities on Biyinlefen highlights the company's leadership in high-end fashion sportswear and its multi-brand international expansion strategy, initiating coverage with a "buy" rating [1] Group 1: Company Overview - Biyinlefen, established in 2003, focuses on high-end golf and outdoor sports apparel, operating multiple brands including Biyinlefen, Biyinlefen Golf, and international brands like KENT & CURWEN and CERRUTI 1881 [2][3] - The company has shown consistent revenue growth, with a CAGR of 20.38% from 2015 to 2024, achieving revenue of 4.404 billion yuan in 2024, a year-on-year increase of 13.24% [2] - Net profit increased from 123 million yuan in 2015 to 781 million yuan in 2024, with a CAGR of 22.80%, although it saw a decline of 14.28% in 2024 due to new brand investments and brand rejuvenation efforts [2] Group 2: Brand Strategy - The company is implementing a multi-brand strategy to establish itself as a leader in niche apparel markets, with Biyinlefen targeting the lifestyle and affordable luxury segments, while Biyinlefen Golf focuses on professional golf apparel [3] - Recent acquisitions of KENT & CURWEN and CERRUTI 1881 aim to enhance brand diversity and international presence, complementing Biyinlefen's existing brand portfolio [3][4] Group 3: Sales Channels - Biyinlefen has a strong offline channel presence, combining direct sales and franchising, with 2024 direct sales revenue reaching 2.568 billion yuan, accounting for 64.12% of total sales [4] - The franchise channel experienced a 24.14% growth in 2024, contributing 28.45% to total sales, while e-commerce sales grew by 35.03% to 263 million yuan, representing 6.57% of total sales [4] - The company operates 1,294 physical stores as of 2024, with a net increase of 39 stores year-on-year [4] Group 4: Investment Outlook - The company focuses on high-end apparel design, brand management, and supply chain optimization, aiming to meet the diverse dressing needs of elite consumers [5] - Despite short-term profit pressures, the company is expected to maintain steady growth in its main brand and expand its international brand presence, with projected net profits of 703 million yuan, 799 million yuan, and 901 million yuan for 2025, 2026, and 2027 respectively [5] - The current market valuation corresponds to 13.38, 11.78, and 10.44 times the estimated earnings for 2025, 2026, and 2027 [5]

体坛经济观察◥ 整理：十进制 本文字数：2469字 建议阅读时间：8分钟 行业速递 01 天猫618户外消费增长强劲，需求呈高端化、轻奢化 5月16日晚8点天猫618正式开售后，运动户外行业增长强劲。运动户外消费需求愈发呈现出高端化、轻奢化特点，高端运动户外品牌增长亮眼。开卖首小 时，lululemon、迪桑特、可隆、Helly Hansen、Lafuma、伯希和同比去年增幅均超50%，KEEN同比增长超100%，凯乐石同比增长超120%，昂跑同比增长 超130%，Hoka one one同比增长超160%，SALOMON同比增长超400%。抢先购4小时里，FILA官方旗舰店成为户外品牌的成交榜榜首，耐克和lululemon 官方旗舰店分别占榜单第二和第三。而户外鞋服的类别中，The North Face、KOLONSPORT和骆驼依次为第一至第三名。 体育赞助 01 电动空中出租车公司Archer Aviation与洛杉矶奥运和残奥组委会达成独家合作伙伴关系 近日，电动空中出租车公司Archer Aviation宣布与洛杉矶奥运和残奥组委会达成独家合作伙伴关系。根据协议内容，Archer将在赛事期间部署Mi ...

公司研究丨点评报告丨比音勒芬（002832.SZ） [Table_Title] 2025Q1 略低预期，多品牌增长可期 报告要点 丨证券研究报告丨 [Table_Summary] 比音勒芬 2024 年实现营收 40.0 亿元，同比+13.2%，归母净利润 7.8 亿元，同比-14.3%。其 中 Q4 实现营收 10.0 亿元，同比+35.7%，归母净利润 0.2 亿元，同比-87.9%。2025Q1 实现 营收 12.9 亿元，同比+1.4%，归母净利润 3.3 亿元，同比-8.5%。 分析师及联系人 [Table_Author] 于旭辉 柯睿 SAC：S0490518020002 SAC：S0490524110001 SFC：BUU942 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 比音勒芬（002832.SZ） cjzqdt11111 [Table_Title2] 2025Q1 略低预期，多品牌增长可期 [Table_Summary2] 事件描述 比音勒芬 2024 年实现营收 40.0 亿元，同比+13.2%，归母净利润 7.8 亿元，同比-14.3 ...

Group 1 - The company announced a change in the general manager position, with the former GM Shen Jindong resigning and being succeeded by Xie Yang to optimize management structure and promote business development [2] - Shen Jindong has been the general manager since 2012, leading the company to significant growth and enhancing brand presence in both domestic and international markets [2] - Xie Yang, born in 1994 and the son of the chairman, has a background in trade and previously served as a director in the company's golf division [2] Group 2 - The company experienced rapid growth after its market positioning targeting high-income middle-aged consumers, becoming known as "China's first golf apparel stock" upon its 2016 IPO [3] - Revenue growth from 2016 to 2023 showed fluctuations, with annual growth rates of 11.73%, 25.23%, 39.96%, 23.7%, 26.17%, 18.09%, 6.06%, and 22.58%, while net profit growth rates were 7.64%, 35.92%, 62.16%, 39.13%, 22.68%, 25.2%, 16.5%, and 25.17% [3] - The company reported a 14.28% decline in net profit for 2024, marking the first annual decline since its IPO, with a continued decline of 8.47% in the first quarter of 2025 [3] - The traditional customer base primarily consists of high-net-worth males over 40, but increased competition and shifting consumer trends towards younger demographics present challenges for the company [3]

在全球奢侈品巨头纷纷下调预期调整策略的大背景下，德国鞋履品牌Birkenstock勃肯鞋在2025年财年第 二季度交出亮眼成绩，营业额同比增长19%，净利润大涨47%。据悉，截至2025年3月31日的三个月 内，Birkenstock营业额达5.74亿欧元，增长覆盖所有区域、渠道与品类。其中亚太市场表现最强，收入 达4780万欧元，同比增长30%，欧洲、中东和非洲市场增长12%达2.13亿欧元，美洲市场增长23%至3.13 亿欧元。 爱马仕在深圳举办匠心工坊体验活动 日前，爱马仕诚邀公众于深圳走近工匠，探索卓越工艺与创新精神。记者获悉，自1837年以来，创新传 承以及功能美学始终引领着爱马仕产品创作的核心价值观。 活动现场，布景以工匠操作台为灵感，构筑舒适开阔的空间，聚焦根植于爱马仕历史与生活的四大主 题：工艺传承、卓越材质、持久承诺与地区纽带。 来自爱马仕不同产品部类的工匠携工具、材质、专业知识与传承精神通过互动体验的线下活动，逐渐步 入公众视野。据悉，匠心工坊体验活动即日起至6月1日结束。 勃肯鞋第一财季中国市场增长强劲 比音勒芬2024年营收增长13% 总部位于广州的比音勒芬近日发布2024年年报，全年 ...

Core Viewpoint - The company reported a revenue increase of 13.24% for 2024, but net profit decreased by 14.28%, marking the first annual decline in net profit since its listing in 2016 [1][3]. Financial Performance - Total revenue for 2024 reached 4.004 billion yuan, up from 3.536 billion yuan in 2023 [2]. - Net profit attributable to shareholders was 780.69 million yuan, down from 910.75 million yuan in the previous year [2]. - The company's cash flow from operating activities decreased by 42.10% to 750.26 million yuan [2]. - Basic and diluted earnings per share fell to 1.37 yuan, a decline of 14.38% [2]. - Total assets increased by 7.05% to 7.202 billion yuan, while net assets attributable to shareholders rose by 3.74% to 5.080 billion yuan [2]. Sales and Marketing Strategy - The company has intensified brand building and market expansion efforts, leading to increased marketing expenses [4]. - Direct sales channels contributed 2.568 billion yuan in revenue, a 7.2% increase, while franchise channels saw a 24.1% increase to 1.139 billion yuan [4]. - Online sales grew by 35.0% to 263 million yuan, although they only accounted for 6.6% of total revenue [5]. Cost Structure - Sales expenses reached 1.613 billion yuan, up 22.96%, constituting 40.3% of total revenue [6]. - Advertising expenses surged by 108% to nearly 200 million yuan, while R&D expenses only increased by 1.8% to 126 million yuan [6][7]. - The company faces high inventory turnover days at 346 days, with a total inventory of 5.1867 million items [7][8]. Management Changes - The company announced a change in management, with the former general manager resigning and being replaced by the chairman's son, who is 29 years old [9][10]. Strategic Initiatives - The company is undergoing a youth-oriented transformation, including a logo change and collaborations with cultural projects to attract younger consumers [11]. - A significant investment of up to 2.3 billion yuan is planned for establishing a fashion industry headquarters in the Bay Area, with a construction period of 8 to 10 years [13].

Management Change - The company announced a change in general manager, with the former general manager Shen Jindong resigning due to work adjustments, and the board appointing Xie Yang as the new general manager [2][4] - Shen Jindong has been with the company since 2012 and has led significant growth, enhancing the brand's market share domestically and promoting internationalization [2] - Shen will continue to support the company as a board member and chief strategic officer, leveraging his industry experience and deep understanding of the company [2][4] Financial Performance - In 2024, the company achieved total revenue of 4.004 billion yuan and a net profit attributable to shareholders of 781 million yuan, representing year-on-year growth of 13.24% and a decline of 14.28% respectively, marking the first negative growth in net profit since its listing in 2016 [6] - The decline in net profit is continuing into 2025, with a year-on-year decrease of 8.47% in the first quarter, resulting in a net profit of 331 million yuan [6] - The company's gross margin was 77.01% in the previous year, down by 1.6 percentage points, while selling expenses increased by 22.96% to 1.613 billion yuan, with advertising expenses surging by 108.11% to 196 million yuan [6] Store Expansion - As of the end of 2024, the company had 644 direct-operated stores and 650 franchise stores, an increase of 37 and 2 stores respectively compared to the previous year [6]