证券日报网讯 2月26日，华凯易佰发布公告称，公司收到股东周新华先生的通知，获悉周新华先生将其 所持有的公司部分股份办理了质押及解除质押业务，本次质押股数8，840，000股，占其所持股份比例 36.72%，占公司总股本比例2.19%；本次解除质押股份数量合计8，270，000股，占其所持股份比例 34.36%，占公司总股本比例2.05%。 （编辑 王雪儿） ...

每经AI快讯，2月26日，华凯易佰（300592）公告，公司股东周新华先生于2026年2月25日办理完成股 份解除质押手续，本次合计解除质押股份数量为827万股，占其所持股份比例34.36%，占公司总股本比 例2.05%。 ...

证券代码：300592 证券简称： 华凯易佰 公告编号：2026-006 日期间，以集中竞价方式及/或大宗交易方式减持公司股份合计不超过 11,763,797 股。截至 2026 年 2 月 25 日，周新华先生持有公司股份 24,071,658 股，上述减持计划尚未实施完毕。（下同） 本次质押股份未被用作重大资产重组业绩补偿等事项的担保或其他保障用 华凯易佰科技股份有限公司 关于股东部分股份质押及解除质押的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 近日，华凯易佰科技股份有限公司（以下简称"公司"）收到股东周新华先生 的通知，获悉周新华先生将其所持有的公司部分股份办理了质押及解除质押业 务，相关手续已在中国证券登记结算有限责任公司办理完毕。具体情况如下： | | 是否为控股 | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股东或第一 | 本次质押 | 占其所持 | 占公司总 | 是否为 | 是否补 | 质押 ...

Investment Rating - The report assigns an "Increase" rating for the retail and wholesale trade industry, indicating an expected performance that exceeds the Shanghai and Shenzhen 300 Index by over 15% [5]. Core Insights - The U.S. Supreme Court ruled that the tariffs imposed under the International Emergency Economic Powers Act (IEEPA) were illegal, leading to a proposed 5% reduction in tariffs on Chinese goods through the implementation of Section 122 of the Trade Act of 1974 [2][5]. - The Section 122 tariffs will have a broad exemption list, including critical minerals, energy products, certain agricultural products, pharmaceuticals, and vehicles, ensuring limited scope for the tariffs [4]. - The new tariffs will apply a uniform global rate of up to 15%, eliminating previous country-specific differences, thus impacting most trade partners similarly [4]. Summary by Sections Legal Context - The Supreme Court's decision on February 20, 2026, overturned the previous tariffs under IEEPA, stating that the power to impose taxes lies with Congress, not the President [5]. - The new tariffs under Section 122 are set to be temporary, with a maximum duration of 150 days unless extended by Congress [5]. Tariff Structure - The current tariff structure on Chinese goods includes four categories: 301 tariffs (7.5%-25%), 232 tariffs (25-50%), the new 122 tariffs (15%), and special taxes (e.g., fentanyl and reciprocal tariffs totaling 20%) [5]. - The ruling results in a net reduction of approximately 5% in tariffs on Chinese goods, alleviating some pressure on trade [5]. Investment Recommendations - The report recommends several companies for investment, including Anker Innovations, Ugreen Technology, Saiwei Times, Sumida, Jihong Co., and Zhiou Technology, all rated for "Increase" [5][6].

Core Viewpoint - Recent share reduction actions by major shareholders indicate potential shifts in company ownership dynamics and investor sentiment [1][2] Shareholder Actions - Shareholder Zhou Xinhua disclosed a share reduction plan on December 3, 2025, intending to reduce holdings by up to 11.76 million shares between December 25, 2025, and March 24, 2026 [1] - From January 29 to February 2, 2026, Zhou Xinhua and his associate Luo Ye reduced their holdings by a total of 5.175 million shares, representing 1.28% of the company's total equity [1] - Following this reduction, the combined shareholding of Zhou Xinhua and Luo Ye decreased from 10.99% to 9.71% [1] Stock Performance - During the share reduction period from January 29 to February 2, 2026, the company's stock price experienced fluctuations, closing at 13.79 yuan on February 2, 2026 [1] Institutional Insights - GF Securities reported on January 22, 2026, that the company has established a turning point in inventory clearance, with expectations for a high elasticity recovery in performance for 2026 [2] - Shareholder reductions are common in capital markets, often driven by individual funding needs, suggesting that investors should consider the company's fundamentals, financial status, and future strategic direction when making decisions [2]

Core Viewpoint - Huakai Yibai announced the release of a portion of shares held by shareholder Zhou Xinhua, indicating a potential shift in shareholder confidence and liquidity in the company [2] Group 1 - The company received notification from shareholder Zhou Xinhua regarding the release of 3.73 million shares from pledge [2] - The relevant procedures for the release have been completed with the China Securities Depository and Clearing Corporation Limited [2]

Group 1 - The company, Huakai Yibai Technology Co., Ltd., announced that shareholder Zhou Xinhua has released part of his pledged shares, totaling 3.73 million shares [1] - As of the announcement date, Zhou Xinhua has a total of approximately 9.35 million pledged shares, which accounts for 36.84% of his holdings [1] - Another shareholder, Luo Ye, has pledged a total of 8.7 million shares, representing 67.43% of his holdings [1]

证券代码：300592 证券简称： 华凯易佰 公告编号：2026-005 华凯易佰科技股份有限公司 关于股东部分股份解除质押的公告 1、本次解除质押基本情况 | 股东 | 是否为控股股东或 第一大股东及其一 | 本次解除质押 | 占其所持股 | 占公司总股 | 质押开始日期 | 解除质押日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 股份数量（股） | 份比例 | 本比例 | | | | | | 致行动人 | | | | | | | | 周新华 | 否 | 3,730,000 | 14.70% | 0.92% | 2025-2-26 | 2026-2-6 | 红塔证券股份 | | | | | | | | | 有限公司 | 注：公司于 2025 年 12 月 3 日披露了《关于持股 5%以上股东及其他股东减持公司股份计划的预披露公 告》（公告编号：2025-101），持股 5%以上股东周新华先生计划在 2025 年 12 月 25 日至 2026 年 3 月 24 日期间，以集中竞价方式及/或大宗交易方式减持公司股份合计 ...

Investment Rating - The report maintains a positive investment rating for the cross-border e-commerce industry [11]. Core Insights - Cross-border e-commerce is characterized by high customer unit prices and high markup rates, but it has a longer midstream chain, leading to significant fluctuations in profitability [22]. - The industry is currently in a recovery phase, with a projected revenue growth of 26% in 2024 and 15% in Q1-Q3 of 2025, while non-recurring net profits are expected to decline by 46% and grow by 1% respectively [3][7]. - The report emphasizes the cyclical nature of profitability in the industry, with leading sellers gaining a relative advantage [8]. Summary by Sections Introduction: Exploring the Operating Cycle of Cross-Border E-Commerce - Cross-border e-commerce involves pre-stocking goods in overseas warehouses and includes complex logistics processes such as customs clearance and last-mile delivery, making it more intricate than traditional consumer goods [3][7]. Review: Strong Profitability Cycles and Head Seller Advantages - Historical analysis shows that the penetration rate of overseas e-commerce and the share of Chinese sellers are increasing, establishing a high growth baseline for the industry [8]. - The industry is transitioning from a phase dominated by e-commerce dividends to one focused on quality and compliance, with leading sellers outperforming overall industry growth [8]. Current Situation: Negative Impacts Easing, Industry Bottoming Out - The industry is currently in a recovery phase, driven by orderly supply chain transitions and tax reforms in China's e-commerce sector, which enhance competitive dynamics among leading sellers [9]. - Inventory levels among top sellers have reached historical lows, indicating that the inventory destocking phase is nearing its end, and shipping costs still have room to decline [9]. Investment Recommendations: Lightening the Load, Performance Inflection Point Expected - The report suggests that the cross-border e-commerce industry is expected to experience a performance inflection point in 2026, with revenue and profitability on an upward trajectory [10]. - Recommended companies include Anker Innovations and Ugreen Technology, which are leveraging channel and operational advantages to build brand recognition among overseas consumers [10].

证券代码：300592 证券简称： 华凯易佰 公告编号：2026-004 华凯易佰科技股份有限公司 关于持股5%以上股东及其一致行动人持股比例变动触及 1%及5%整数倍暨披露简式权益变动报告书的提示性公告 股东周新华先生及其一致行动人罗晔女士保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、本次权益变动系持股 5%以上股东减持公司股份，不涉及要约收购。 2 股东 名称 减持 方式 减持期间 减持均价 减持股份 （股） 占总 股本 比例 占剔除回 购股份后 总股本比 例 股份来源 周新 华 集中 竞价 2026.1.29-2026.1.30 14.35 元/股 714,000 0.18% 0.18% 公司首次公开 发行前股份， 公司 2021 年发 行股份购买资 产时向特定对 象 发 行 的 股 份，公司 2024 年实施股权激 励授予的股份 及因资本公积 转增股本而相 应 增 加 的 股 份，原一致行 动人神来科技 非交易过户的 股份。 大宗 交易 2026.1.29-2026.2.2 12. ...