证券代码：300785 证券简称：值得买 公告编号：2024-032 北京值得买科技股份有限公司 关于持股 5%以上股东解除部分股份质押的公告 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。 北京值得买科技股份有限公司（以下简称"公司"）近日接到持股 5%以上 股东刘超先生函告，获悉其所持有质押给浙商证券股份有限公司的公司股票办理 了解除质押，具体事项如下： 一、股东股份本次解除质押的基本情况 | | 是否为控 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股股东或 | 本次解除 | 占其所 | 占公司 | 是否为 | | | | | 名称 | 第一大股 | 质押数量 | 持股份 | 总股本 | 限售股 | 质押起始日 | 解除质押日 | 质权人 | | | 东及其一 | （万股） | 比例 | 比例 | | | | | | | 致行动人 | | | | | | | | | 刘超 | 否 | 327.00 | 30.38% | 1.64% | 否 | ...

证券代码：300785 证券简称：值得买 公告编号：2024-031 本次质押股份不存在负担重大资产重组等业绩补偿义务。 2、股东股份累计质押的情况 截至公告披露日，上述股东所持质押股份情况如下： | | | | | | | | 已质押股份 情况 | | 未质押股份 情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 持股数量 | | 本次质押前 | 本次质押后 | 占其所 | 占公司 | | | | | | 股东名称 | （万股） | 持股比例 | 质押股份数 | 质押股份数 | 持股份 | 总股本 | 已质押股 份限售和 | 占已质 | 未质押股份 | 占未质 | | | | | 量（万股） | 量（万股） | 比例 | 比例 | 冻结数量 | 押股份 | 限售和冻结 | 押股份 | | | | | | | | | （万股） | 比例 | 数量（万股） | 比例 | | 刘超 | 1,076.5116 | 5.41% | 327.00 | 737.00 | 68.46% | 3.71% | 0 | 0 ...

Summary of Conference Call Company Overview - The conference call featured Liu Wei Liang, a leader from the company, who provided an update on the company's situation and operations [1] Key Points - The company expressed gratitude to participants for attending the online meeting [1] - Liu Wei Liang was introduced as an independent leader of the company, indicating a focus on transparency and leadership engagement [1] Additional Important Content - The structure of the meeting included an initial update followed by a Q&A session, highlighting the company's commitment to stakeholder engagement and communication [1]

1、本次股份解除质押基本情况 2、股东股份累计质押的情况 截至本公告披露日，上述股东所持质押股份情况如下： 证券代码：300785 证券简称：值得买 公告编号：2024-030 北京值得买科技股份有限公司 关于持股 5%以上股东解除股份质押的公告 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。 北京值得买科技股份有限公司（以下简称"公司"）近日接到持股 5%以上 股东刘峰先生函告，获悉其所持有质押给浙商证券股份有限公司的公司股票办理 了解除质押，具体事项如下： 一、股东股份本次解除质押的基本情况 | | 是否为控 股股东或 | 本次解除 | 占其所 | 占公司 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 第一大股 | 质押数量 | 持股份 | 总股本 | 是否为 | 质押起始日 | 解除质押日 | 质权人 | | 名称 | 东及其一 | （万股） | 比例 | 比例 | 限售股 | | | | | | 致行动人 | | | | | | | | | 刘峰 | 否 ...

Investment Rating - The investment rating for the company "值得买" (300785) is "Buy" with a target price of 22.07 CNY [6][21]. Core Views - The report emphasizes the company's focus on "consumer content + consumer data" as its core strategy, leveraging AI to enhance its main site transformation and improve the "AIGC + e-commerce" content ecosystem, which is expected to boost content creation capacity, user growth, and engagement. The company's overseas expansion is anticipated to accelerate, positively impacting its performance and valuation. The projected net profits for 2024-2026 are 1.05 billion, 1.43 billion, and 1.81 billion CNY, with corresponding EPS of 0.53, 0.72, and 0.91 CNY, leading to PE ratios of 39, 29, and 23 respectively [6][21]. Financial Performance - In 2023, the company achieved a revenue of 1.45 billion CNY, an increase of 18.17% year-on-year, while the net profit attributable to shareholders was 0.75 billion CNY, a decrease of 11.92% year-on-year. The gross margin was 48.37%, down 5.61 percentage points year-on-year, and the net margin was 5.47%, down 1.40 percentage points year-on-year [21][29]. - The quarterly performance for Q4 2023 showed a revenue of 0.493 billion CNY, up 19.22% year-on-year, with a net profit of 0.061 billion CNY, an increase of 3.62% year-on-year [21][29]. Business Development - The company is actively expanding its overseas market presence, particularly in Southeast Asia, and has established a research and development center in Chengdu to support this initiative. The report highlights the growth potential from innovative business segments, which accounted for 34.26% of total revenue in 2023, up from 27.77% in 2022 [15][26]. - The company has launched several AI-driven features in its "什么值得买" app, including an AI review bot and personalized shopping assistant, aimed at enhancing user experience and engagement [24][26]. Future Outlook - The company is expected to continue its growth trajectory, with revenue projections for 2024-2026 at 1.73 billion, 1.94 billion, and 2.11 billion CNY, reflecting growth rates of 19.07%, 12.43%, and 8.50% respectively [29]. The net profit attributable to shareholders is projected to grow significantly, indicating a strong recovery and growth potential in the coming years [29].

上海泽昌律师事务所 关于 2023年年度股东大会的 法律意见书 上海市浦东新区世纪大道 1589 号长泰国际金融大厦 11 层 电话：021-61913137 传真：021-61913139 邮编：200120 二〇二四年五月 上海泽昌律师事务所 法律意见书 上海泽昌律师事务所 关于北京值得买科技股份有限公司 2023 年年度股东大会的 法律意见书 北京值得买科技股份有限公司 鉴此，本所律师根据上述法律、法规、规章及规范性文件的要求，按照律师 行业公认的业务标准、道德规范和勤勉尽责精神，现出具法律意见如下： 一、 本次股东大会召集人资格及召集、召开的程序 （一）本次会议的召集 1 泽昌证字 2024-01-10-01 致：北京值得买科技股份有限公司 上海泽昌律师事务所（以下简称"本所"）接受北京值得买科技股份有限公司 （以下简称"公司"）委托，就公司召开 2023 年年度股东大会（以下简称"本次股 东大会"）的有关事宜，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》"）、中国证券监督管理委 员会发布的《上市公司股东大会规则》（以下简称"《股东大会规则》 ...

证券代码：300785 证券简称：值得买 公告编号：2024-027 北京值得买科技股份有限公司 2023 年度股东大会决议公告 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。 特别提示： 1、本次股东大会无增加、变更、否决议案的情形； 2、本次股东大会未涉及变更前次股东大会决议； 3、本次股东大会以现场表决与网络投票相结合的方式召开。 一、会议召开情况 1、北京值得买科技股份有限公司（以下简称"公司"）2023 年度股东大会 通知于 2024 年 4 月 26 日在证监会指定信息披露网站巨潮资讯网 （http://www.cninfo.com.cn）上以公告形式发出，本次股东大会采取现场投票 及网络投票相结合的方式召开。 2、会议召开方式：现场表决与网络投票相结合。 3、会议召开时间： （1）现场会议时间：2024 年 5 月 20 日（星期一）下午 14:30 （2）网络投票时间：2024 年 5 月 20 日 通过深圳证券交易所交易系统进行网络投票的时间为 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 ...

Group 1: AI Strategy and Development - The company has established AIGC as a key strategic project since early 2023, creating an independent AI division and developing the "Zhida Mai Consumer Model" [2] - As of May 10, 2024, the company announced a comprehensive AI layout consisting of 1 large model, 2 databases, 3 engines, and 4 application types [2][3] - The "Zhida Mai Consumer Model" is based on 300GB of data and has undergone 120 million iterations [2] Group 2: Product Offerings and Monetization - The company has launched the "Xiao Zhi" AI shopping assistant and various AI tools, aiming to enhance user experience and optimize monetization strategies [3][4] - "Xiao Zhi" was launched on February 29, 2024, with an initial traffic allocation of 5%, which is gradually increasing [3] - The company plans to open its consumer model and "Xiao Zhi" capabilities to B-end clients, particularly targeting small and medium-sized e-commerce businesses [3][4] Group 3: Financial Performance and Challenges - In Q1 2024, the company reported stable revenue growth from "Zhida Mai," primarily driven by new business, especially in Douyin e-commerce operations [5] - The net profit for Q1 2024 was impacted by seasonal factors, increased R&D expenses of approximately 10 million yuan, and significant investments in a charitable foundation [5][6] - The overall gross margin has declined due to a shift in business structure, with new business revenues contributing a lower gross margin [6] Group 4: International Expansion Plans - The company has initiated its overseas strategy in 2023, establishing a research center in Chengdu and forming an overseas team for market research and strategic planning [5] - Thailand has been selected as the first market for international expansion, with the local version of "Zhida Mai" named "ZestBuy" [5] Group 5: Community Engagement and Content Strategy - The company has implemented various community engagement strategies, including holiday-themed activities, price comparison services, and user-generated content incentives [7] - These initiatives have enhanced community vitality, improved user experience, and fostered a healthy ecosystem [7]

Group 1: Company Strategy and AI Integration - The company announced a comprehensive AI strategy, planning to upgrade its core product "What Worth Buying" App to "AI Native What Worth Buying GEN2" [3] - The integration of AI aims to enhance content production efficiency and change the content generation logic [5][6] - The company has begun collaboration with external large model companies, maintaining a high level of openness towards AIGC products [3][4] Group 2: International Expansion Plans - In 2023, the company officially proposed to expand its business overseas, establishing a research and development center in Chengdu [4] - The first overseas operation will be in Thailand, with the local version named "ZestBuy" [4] - The company aims to create a model project in Thailand before expanding to other Southeast Asian countries [4] Group 3: User Engagement and Market Positioning - The company expects significant growth in user engagement with the launch of GEN2, targeting a broader audience across China [5] - Feedback from brand partners indicates high expectations for the transition to GEN2, aligning with current content marketing trends [5] - The company emphasizes the importance of providing original, high-quality content to differentiate itself in the market [7] Group 4: Financial Strategy and Long-term Goals - The company plans to balance long-term investments in AIGC and international expansion with maintaining basic profit levels [7] - The management strategy for 2024 focuses on increasing investments to seize long-term growth opportunities [7] - The collaboration with large model companies is expected to enhance the overall value of the company's data resources [4][7]