Market Overview - The professional chain sector experienced a slight decline of 0.12% on September 10, with Kid King leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Individual Stock Performance - Doctor Glasses (300622) closed at 34.02, with an increase of 1.34% and a trading volume of 84,900 shares, totaling a transaction value of 287 million [1] - Aiying Room (603214) closed at 19.15, up 0.58%, with a trading volume of 34,400 shares and a transaction value of 65.78 million [1] - Tianyin Holdings (000829) closed at 9.62, down 0.10%, with a trading volume of 127,500 shares and a transaction value of 123 million [1] - Huazhi Wine (300755) closed at 17.78, down 0.11%, with a trading volume of 64,500 shares and a transaction value of 115 million [1] - Yanshida (002416) closed at 11.77, down 0.17%, with a trading volume of 149,500 shares and a transaction value of 177 million [1] - Jifeng Technology (300022) closed at 8.35, down 0.24%, with a trading volume of 71,200 shares and a transaction value of 59.42 million [1] - Kid King (301078) closed at 11.66, down 0.68%, with a trading volume of 297,700 shares and a transaction value of 349 million [1] Fund Flow Analysis - The professional chain sector saw a net outflow of 61.614 million from main funds, while retail funds experienced a net inflow of 34.6634 million [1] - The detailed fund flow for individual stocks indicates that Doctor Glasses had a main fund net outflow of 13.1373 million, while retail funds saw a net outflow of 26.6929 million [2] - Aiying Room had a main fund net inflow of 5.0797 million, with retail funds showing a net outflow of 1.3364 million [2] - Kid King experienced a significant main fund net outflow of 56.0553 million, while retail funds had a net inflow of 53.7775 million [2]

Company Overview - 博士眼镜 is a retail company specializing in eyewear, established on April 23, 1997, and listed on March 15, 2017 [1] - The company is located in Shenzhen, Guangdong Province, and its main business includes optical glasses and fitting services, accounting for 67.01% of its revenue [1] Financial Performance - For the first half of 2025, 博士眼镜 achieved a revenue of 686 million yuan, representing a year-on-year growth of 14.22% [2] - The net profit attributable to the parent company for the same period was 56.03 million yuan, an increase of 6.97% year-on-year [2] - Cumulatively, the company has distributed 464 million yuan in dividends since its A-share listing, with 204 million yuan in the last three years [3] Stock Market Activity - As of September 10, 博士眼镜's stock price was 34.26 yuan per share, with a market capitalization of 7.806 billion yuan [1] - The stock has seen a decline of 10.37% year-to-date, with a slight increase of 1.66% over the last five trading days [1] - The company has appeared on the龙虎榜 twice this year, with the most recent net buy of -235 million yuan on February 21 [1] Shareholder Information - As of June 30, 2025, 博士眼镜 had 53,800 shareholders, an increase of 9.25% from the previous period [2] - The average number of circulating shares per shareholder was 2,892, up by 19.81% [2] - New institutional shareholders include 广发创新升级混合 and 民生加银持续成长混合A, while some previous shareholders have exited the top ten list [3] Market Position - 博士眼镜 operates within the 商贸零售-专业连锁 industry and is associated with concepts such as small-cap stocks, smart glasses, and wearable technology [2]

Core Viewpoint - Doctor Glasses (博士眼镜) is planning to issue convertible bonds to raise up to 37.5 million yuan for store construction, digital platform upgrades, and working capital, despite facing challenges such as declining net profit and increasing inventory and receivables [2][3][5]. Financial Performance - The company's revenue for 2022 to 2024 is projected to be 962.24 million yuan, 1.17587 billion yuan, and 1.20282 billion yuan, respectively, indicating a growth trend [2][5]. - The net profit attributable to the parent company is expected to decline by 24.03% in 2024 [2][5]. - The gross profit margins are 70.84%, 69.87%, and 68.84% for the years 2022, 2023, and 2024, respectively [2][5]. Funding and Use of Proceeds - The funds raised from the convertible bond issuance will be allocated for chain store construction and upgrades, headquarters management, brand building, and digital platform enhancements [3][4][5]. - The bond will have a six-year term with a face value of 100 yuan per bond, and the initial conversion price will be based on the average stock price prior to the announcement [3][5]. Market Position and Risks - As of June 2025, the company operates 569 stores, with 507 being directly operated [3][5]. - The company faces risks related to trademark disputes, increasing inventory and receivables, and potential delays in project execution [5][6]. - The company has fully provided for goodwill impairment related to acquisitions that did not meet expectations [2][5].

Core Viewpoint - 博士眼镜连锁股份有限公司 has responded to the Shenzhen Stock Exchange regarding its application for issuing convertible bonds, detailing its operational performance and fundraising projects [1] Performance Fluctuation Reasons and Response Measures - From 2022 to 2024, 博士眼镜's revenue is projected to grow from 962.24 million to 1.20 billion, but a decline in net profit is expected in 2024, with a year-on-year decrease of 24.03% [2] - The decline in net profit is attributed to increased market expansion costs, a higher proportion of lower-margin joint venture stores and distribution business, and goodwill impairment losses [2] - To enhance profitability, 博士眼镜 is implementing measures such as optimizing store management, promoting smart glasses and proprietary brands, deepening cooperation with key clients, and utilizing digital tools for cost control [2] - In the first half of 2025, these measures have shown initial results, with revenue increasing by 14.22% and net profit attributable to shareholders rising by 7.54% year-on-year [2] Business Segment Analysis - The company primarily operates through direct retail, with direct retail revenue accounting for 71.51% in the first half of 2025 [3] - Different sales models exhibit varying gross margins, with direct sales having a higher margin compared to joint venture stores and distribution [3] - Supplier rebates from 2022 to 2024 increased from 66.34 million to 95.25 million, reflecting sustainable rebate policies aligned with procurement and sales growth [3] - Online platform expenses are mainly for advertising and influencer collaborations, maintaining a stable ratio to online sales, which is higher than industry peers [3] Accounts Receivable and Inventory Situation - 博士眼镜's accounts receivable and inventory management are sound, with sufficient provisions for bad debts and strict credit policies [4] - Inventory levels have increased reasonably, with turnover rates comparable to industry peers and adequate provisions for inventory depreciation [4] Fundraising Project Planning and Progress - The issuance of convertible bonds aims to raise up to 375 million for chain store construction, headquarters management, brand building, and digital platform upgrades [5] - Plans include opening 225 smart eyewear stores and upgrading existing ones, purchasing office space, and establishing a brand experience center [5] - The company has the necessary technical, talent, and equipment reserves for the projects, with no significant uncertainties in implementation [5] - As of June 30, 2025, 4.55 million of self-funding has been utilized for the projects [5]

Core Viewpoint - The 36th China International Optical Fair (CIOF) held in Beijing showcased the advancements in the smart eyewear sector, with Dr. Glasses emerging as a focal point through its collaboration with eight leading smart eyewear brands, highlighting its industry influence and innovative capabilities [1][11]. Group 1: Event Overview - The CIOF took place from September 9 to 11, 2025, featuring nearly 700 exhibitors from 20 countries [1]. - Dr. Glasses' exhibition utilized a dual-layer design, creating a futuristic atmosphere with a spacious layout that facilitated comfortable viewing and interaction [1]. Group 2: Brand Collaboration - Dr. Glasses partnered with eight smart eyewear brands, including Thunderbird Innovation, JIEHUAN, XREAL, and others, to showcase a variety of products such as AI shooting glasses and AR glasses, catering to diverse consumer needs [2]. - This collaboration demonstrates Dr. Glasses' strong resource integration and ecosystem-building capabilities within the smart eyewear market [2]. Group 3: Engagement and Experience - The event featured live presentations from brand representatives, fostering in-depth discussions on industry trends and technological advancements, which reinforced the trust and recognition among partners [6]. - Attendees showed significant interest in the smart eyewear products, engaging in hands-on experiences and direct interactions with brand representatives to learn about product features [7][8]. Group 4: Industry Impact - The CIOF provided a platform for showcasing, communication, and collaboration within the eyewear industry, stimulating innovation and development [11]. - Dr. Glasses' participation highlighted its leading position in the smart eyewear sector and its commitment to promoting collaborative growth within the industry ecosystem [11].

关于博士眼镜连锁股份有限公司申请 向不特定对象发行可转换公司债券的 审核问询函中有关财务事项的说明 政旦志远核字第 250000260 号 政旦志远(深圳)会计师事务所(特殊普通合伙) Zandar Certified Public Accountants LLP 此的用于证明该审计报告是否由具有执业许可用 您可使用手机"扫一扫"或进入"注册会计师行业统一些管亚会（+- 关于博士眼镜连锁股份有限公司申请 向不特定对象发行可转换公司债券的 审核问询函中有关财务事项的说明 录 页 次 1-125 关于博士眼镜连锁股份有限公司申请向不特 定对象发行可转换公司债券的审核问询函中 有关财务事项的说明 ZANDAR | 政旦去途 地 址:深圳市福田区鹏程一路广电金融中心11F 甲,话:+86-755-88605026 uning zdena com 关 于 博 士 眼 镜 连 锁 股 份 有 限 公 司 申 请 向 不 特 定 对 象 发 行 可 转 换 公 司 债 券 的 审 核 间 询 函 中 有 关 财 务 事 项 的 说 明 政旦志远核字第 250000260 号 深圳证券交易所: 由博士眼镜连锁股份有限公司转来 ...

博士眼镜连锁股份有限公司 Doctorglasses Chain Co.,Ltd. 广东省深圳市罗湖区桂园街道深南东路 5016 号京基一百大厦 A 座 2201-02 单元 向不特定对象发行可转换公司债券 募集说明书 （修订稿） 保荐机构（主承销商） 深圳市福田区福田街道益田路 5023 号平安金融中心 B 座第 22-25 层 二〇二五年九月 证券简称：博士眼镜 证券代码：300622 博士眼镜连锁股份有限公司 向不特定对象发行可转换公司债券募集说明书 声 明 本公司及全体董事、监事、高级管理人员承诺募集说明书及其他信息披露 资料不存在任何虚假记载、误导性陈述或重大遗漏，并对其真实性、准确性及 完整性承担相应的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人保证募集说明书中财 务会计资料真实、完整。 中国证监会、深圳证券交易所对本次发行所作的任何决定或意见，均不表 明其对申请文件及所披露信息的真实性、准确性、完整性作出保证，也不表明 其对发行人的盈利能力、投资价值或者对投资者的收益作出实质性判断或保证。 任何与之相反的声明均属虚假不实陈述。 根据《证券法》的规定，证券依法发行后，发行人经营与收益 ...

证券代码：300622 证券简称：博士眼镜 公告编号：2025-059 博士眼镜连锁股份有限公司（以下简称"公司"）于 2025 年 5 月 14 日收到 深圳证券交易所（以下简称"深交所"）出具的《关于博士眼镜连锁股份有限公 司申请向不特定对象发行可转换公司债券的审核问询函》（以下简称"审核问询 函"）。深交所对公司报送的向不特定对象发行可转换公司债券的申请文件进行 了审核，并形成审核问询问题。 公司按照审核问询函的要求，会同相关中介机构针对审核问询函所列问题进 行了认真研究和回复，并对募集说明书等相关申请文件内容进行了更新，具体内 容详见公司于 2025 年 6 月 3 日在巨潮资讯网（www.cninfo.com.cn）上披露的相 关公告。 根据深交所的进一步审核意见及相关要求，结合公司已披露的《2025 年半 年度报告》，公司会同相关中介机构对审核问询函的回复内容进行了相应的补充 与更新，具体内容详见公司同日在巨潮资讯网（www.cninfo.com.cn）披露的相 关文件。 公司本次向不特定对象发行可转换公司债券事项尚需通过深交所审核，并获 得中国证券监督管理委员会作出同意注册的决定后方可实施。最终 ...

.证券简称：博士眼镜 证券代码：300622 博士眼镜连锁股份有限公司 Doctorglasses Chain Co.,Ltd. 广东省深圳市罗湖区桂园街道深南东路 5016 号京基一百大厦 A 座 2201-02 单元 关于博士眼镜连锁股份有限公司 申请向不特定对象发行可转换公司债券的 审核问询函的回复 （修订稿） 保荐人（主承销商） | 审核问询函的问题 | 黑体 | | --- | --- | | 问题的回复 | 宋体 | | 对募集说明书的修订补充 | 楷体加粗 | 1 | | | | | | 住所：深圳市福田区福田街道益田路 5023 号平安金融中心 B 座第 22-25 层 二〇二五年九月 深圳证券交易所： 根据贵所上市审核中心 2025 年 5 月 14 日出具的《关于博士眼镜连锁股份有 限公司申请向不特定对象发行可转换公司债券的审核问询函》（审核函〔2025〕 020022 号）（以下简称"审核问询函"）的要求，博士眼镜连锁股份有限公司（以 下简称"博士眼镜""发行人"或"公司"）已会同平安证券股份有限公司（以下 简称"保荐人"或"平安证券"）、国浩律师（深圳）事务所（以下简称"发行人 律师" ...

股票简称：博士眼镜 股票代码：300622 平安证券股份有限公司 关于博士眼镜连锁股份有限公司 向不特定对象发行可转换公司债券 之 发行保荐书 （修订稿） 保荐机构（主承销商） （住所：深圳市福田区福田街道益田路 5023 号平安金融中心 B 座第 22-25 层） 二〇二五年九月 声 明 平安证券股份有限公司（以下简称保荐机构、本保荐机构或平安证券）接受 博士眼镜连锁股份有限公司（以下简称发行人、博士眼镜或公司）委托，担任博 士眼镜向不特定对象发行可转换公司债券（以下简称本次发行）的保荐机构，就 发行人本次发行出具发行保荐书。 本保荐机构及指定的保荐代表人根据《中华人民共和国公司法》（以下简称 《公司法》）、《中华人民共和国证券法》（以下简称《证券法》）、《证券发 行上市保荐业务管理办法》、《上市公司证券发行注册管理办法》（以下简称《注 册管理办法》）等有关规定、深圳证券交易所颁布的《深圳证券交易所上市公司 证券发行上市审核规则》（以下简称《上市审核规则》）的规定，诚实守信，勤 勉尽责，严格按照依法制订的业务规则、行业执业规范和道德准则，经过尽职调 查和审慎核查，出具本发行保荐书，并保证所出具文件的真实性、 ...