Financial Performance - Revenue for the third quarter reached 2.28 billion yuan, a year-on-year increase of 4.11%[2] - Net profit attributable to shareholders of the listed company was 51.53 million yuan, up 8.66% year-on-year[2] - Total revenue for the period reached 6,798,010,420.68 yuan, an increase from 6,347,181,857.80 yuan in the previous period[20] - Operating profit for the period was 185,888,886.34 yuan, up from 156,001,304.37 yuan in the previous period[21] - Net profit attributable to the parent company's shareholders was 131,288,345.78 yuan, compared to 116,972,328.17 yuan in the previous period[22] - Basic earnings per share increased to 0.1185 yuan from 0.1052 yuan in the previous period[22] - Diluted earnings per share rose to 0.1183 yuan from 0.1046 yuan in the previous period[22] Cash Flow and Investments - Operating cash flow for the first nine months surged 132.76% to 908.70 million yuan[2] - Cash outflow from investment activities surged by 592.56% to 1.82 billion yuan, mainly due to increased purchases of low-risk financial products[8] - Net cash flow from financing activities turned negative, decreasing by 195.12% to -549.24 million yuan, as the company received convertible bond funds in the previous period[8] - Operating cash flow increased to 908.7 million RMB, up 132.8% YoY from 390.4 million RMB[24] - Investment cash outflow surged to 9.46 billion RMB, a 200% increase from 3.15 billion RMB in the previous year[25] - Investment cash inflow grew significantly to 7.64 billion RMB, up 164% from 2.89 billion RMB[24] - Fixed asset investments doubled to 564.4 million RMB from 270.9 million RMB[24] - Debt repayment increased by 21% to 220.7 million RMB from 182.5 million RMB[25] - Dividend payments surged to 117.2 million RMB, a 1055% increase from 10.1 million RMB[25] Assets and Liabilities - Total assets as of September 30, 2024, stood at 9.59 billion yuan, a slight decrease of 0.19% compared to the end of the previous year[2] - The company's monetary funds decreased to 1,272,517,251.36 yuan from 2,472,113,966.51 yuan at the beginning of the period[16] - The company's trading financial assets increased significantly to 2,267,182,188.40 yuan from 905,260,341.36 yuan at the beginning of the period[16] - Accounts receivable increased to 140,957,101.66 yuan from 84,190,418.09 yuan at the beginning of the period[16] - Inventory decreased to 938,242,689.87 yuan from 1,119,581,835.60 yuan at the beginning of the period[16] - The company's total assets at the end of the period were 9,588,968,105.57 yuan, slightly down from 9,607,400,609.56 yuan at the beginning of the period[17] - The company's total liabilities at the end of the period were 2,932,899,582.40 yuan, up from 2,855,317,646.95 yuan at the beginning of the period[18] - Long-term loans decreased to 906,900,019.94 yuan from 919,361,720.12 yuan at the beginning of the period[18] - Lease liabilities decreased to 1,235,965,793.17 yuan from 1,497,248,983.34 yuan at the beginning of the period[18] - Total liabilities decreased to 6,115,238,137.41 yuan from 6,311,231,955.59 yuan at the beginning of the period[19] - Total equity increased to 3,473,729,968.16 yuan from 3,296,168,653.97 yuan at the beginning of the period[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 33,742[9] - Jiangsu Bosida Enterprise Information Consulting Co., Ltd. holds 24.84% of the shares, totaling 277,563,504 shares[9] - Nanjing Qianmiaonuo Venture Capital Partnership holds 11.44% of the shares, totaling 127,819,468 shares[9] - HCM KW (HK) Holdings Limited holds 6.26% of the shares, totaling 69,911,502 shares[9] - Shanghai Axing Investment Management Co., Ltd. - Axing Xuanwu No. 1 Private Securities Investment Fund holds 4.98% of the shares, totaling 55,602,226 shares[9] - Nanjing Ziquan Investment Partnership holds 4.24% of the shares, totaling 47,424,564 shares[9] - Amplewood Capital Partners (HK) Limited holds 2.92% of the shares, totaling 32,670,990 shares[9] - Starr International Investments HK V, Limited holds 1.42% of the shares, totaling 15,914,154 shares[9] - Shanghai Shenchuang Equity Investment Fund Partnership holds 1.24% of the shares, totaling 13,913,346 shares[10] - The company's repurchase account holds 9,224,000 shares, representing 0.83% of the total shares[11] - The total restricted shares at the end of the period amounted to 466,354,216 shares, with 8,905,980 shares released during the period[15] Expenses and Costs - Financial expenses rose by 59.75% to 102.38 million yuan due to increased interest expenses[6] - Sales expenses rose to 1,374,618,281.96 yuan from 1,275,943,229.42 yuan in the previous period[21] - R&D expenses decreased to 27,342,357.25 yuan from 37,925,348.79 yuan in the previous period[21] - Employee compensation and benefits rose to 853.7 million RMB, up 5.5% from 809.3 million RMB[24] - Tax payments increased by 56.3% to 221.8 million RMB from 141.9 million RMB[24] Investments and Financial Products - The company's investment in low-risk financial products increased significantly, with trading financial assets growing by 150.45% to 2.27 billion yuan[5] - Investment income more than doubled, increasing by 110.49% to 25.22 million yuan, primarily due to higher returns from financial products[6] - Construction in progress nearly doubled, increasing by 95.43% to 390.24 million yuan, driven by the construction of the North China Smart Logistics Base and regional settlement center[5] Government Subsidies and Other Income - Government subsidies received increased by 61% to 33.7 million RMB from 20.9 million RMB[24] Cash and Cash Equivalents - Cash and cash equivalents decreased by 1.46 billion RMB, ending at 831.3 million RMB compared to 2.33 billion RMB last year[25] Cash Flow from Sales - Cash flow from sales of goods and services was 7,562,546,596.11 yuan, up from 6,980,226,906.57 yuan in the previous period[23]

| 证券代码：301078 | 证券简称：孩子王 | 公告编号：2024-123 | | --- | --- | --- | | 债券代码：123208 | 债券简称：孩王转债 | | 自 2024 年 9 月 30 日至 2024 年 10 月 18 日，孩子王儿童用品股份有限公司 （以下简称"公司"）的股票价格已连续 10 个交易日的收盘价格不低于公司可 转换公司债券（债券简称"孩王转债"，债券代码"123208"）当期转股价格的 130%（即 9.23 元/股）。根据《孩子王儿童用品股份有限公司向不特定对象发行 可转换公司债券并在创业板上市募集说明书》（以下简称"《募集说明书》"） 赎回条款，若公司股票在转股期内连续三十个交易日中至少有十五个交易日的收 盘价格不低于当期转股价格的 130%（含 130%），公司将有权决定按照债券面值 加当期应计利息的价格赎回全部或部分未转股的"孩王转债"。 敬请广大投资者关注公司后续公告，注意投资风险。 一、可转换公司债券发行上市情况 （一）可转债发行情况 经中国证券监督管理委员会《关于同意孩子王儿童用品股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可 ...

华泰联合证券有限责任公司 关于孩子王儿童用品股份有限公司首次公开发行前 已发行部分股份解除限售并上市流通的核查意见 华泰联合证券有限责任公司（以下简称"保荐机构"）作为孩子王儿童用品 股份有限公司（以下简称"孩子王"、"公司"）首次公开发行股票并在创业板 上市、向不特定对象发行可转换公司债券并在创业板上市及进行持续督导的保荐 机构，根据《中华人民共和国证券法》《证券发行上市保荐业务管理办法》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等相关法律、法规和规范性文件的要求，对 孩子王首次公开发行前已发行部分股份解除限售并上市流通的事项进行了审慎 核查，并出具本核查意见。核查情况如下： （一）公司首次公开发行股票情况 经中国证券监督管理委员会《关于同意孩子王儿童用品股份有限公司首次公 开发行股票注册的批复》（证监许可[2021]2758 号）同意注册，孩子王儿童用品 股份有限公司（以下简称"公司"）首次公开发行人民币普通股（A 股）股票 108,906,667 股，并于 2021 年 10 月 14 日在深圳证券交易所创业板上市交易。上 市后公司总 ...

| 证券代码：301078 | 证券简称：孩子王 | 公告编号：2024-122 | | --- | --- | --- | | 债券代码：123208 | 债券简称：孩王转债 | | 孩子王儿童用品股份有限公司 关于首次公开发行前已发行部分股份解除限售并上市流通 的提示性公告 一、首次公开发行前已发行股份概况 （一）公司首次公开发行股票情况 经中国证券监督管理委员会《关于同意孩子王儿童用品股份有限公司首次公 开发行股票注册的批复》（证监许可[2021]2758 号）同意注册，孩子王儿童用品 股份有限公司（以下简称"公司"）首次公开发行人民币普通股（A 股）股票 108,906,667 股，并于 2021 年 10 月 14 日在深圳证券交易所创业板上市交易。上 市后公司总股本为 1,088,000,000 股，其中有限售条件的股份数量为 1,013,863,734 股，占公司总股本的 93.1860%；无限售条件流通股 74,136,266 股，占公司总股 本的 6.8140%。 （二）上市后股本变动及限售股流通情况 特别提示： 1、本次解除限售的股份为孩子王儿童用品股份有限公司（以下简称"公司"） 部分首 ...

孩子王儿童用品股份有限公司 通讯地址：7/F, Low Block, Grand Millennium Plaza, 181 Queen's Road Central 股份变动性质：股份减少 签署日期：2024 年 10 月 11 日 简式权益变动报告书 上市公司名称：孩子王儿童用品股份有限公司 股票上市地点：深圳证券交易所 股票简称：孩子王 股票代码：301078 信息披露义务人：HCM KW(HK) Holdings Limited 注册地址：7/F, Low Block, Grand Millennium Plaza, 181 Queen's Road Central 第一节 释义 信息披露义务人声明 一、本报告书系信息披露义务人依据《中华人民共和国证券法》《上市公司 收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益 变动报告书》及其他相关法律、法规及规范性文件的有关规定编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准，其履行亦不违 反信息披露义务人章程或内部规章中的任何条款，或与之相冲突。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》《公开发行证 券 ...

动报告书的提示性公告 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 述或者重大遗漏。 证券代码：301078 证券简称：孩子王 公告编号：2024-121 债券代码：123208 债券简称：孩王转债 孩子王儿童用品股份有限公司 关于持股 5%以上股东股份变动比例超过 1%暨披露简式权益变 特别提示： 本次权益变动系孩子王儿童用品股份有限公司（以下简称"公司"或"上市公司"） 持股 5%以上股东 HCM KW(HK) Holdings Limited（以下简称"HCM"）自 2022 年 10 月 17 日至 2024 年 10 月 10 日，因集中竞价交易和大宗交易减持上市公司股份，及上市公 司激励对象授予限制性股票以及限制性股票回购注销、发行的可转换公司债券转股等股 本增加导致的被动稀释，HCM 持股比例由 11.2418%减少至 5.9976%（占公司剔除回购 专用账户中股份数量后总股本的 6.0454%）。 本次变动不触及要约收购，不会导致公司控股股东及实际控制人发生变化，不会影 响公司的治理结构和持续经营。 公司于近日收到持股 5%以上股东 HCM 出具的《告知函》 ...

孩子王儿童用品股份有限公司 证券代码：301078 证券简称：孩子王 公告编号：2024-120 债券代码：123208 债券简称：孩王转债 关于控股股东及其一致行动人持股比例被动稀释超过 1%的提示 根据中国证监会《上市公司股权激励管理办法》、深圳证券交易所、中国证券登记 结算有限责任公司深圳分公司有关业务规则的规定，经深圳证券交易所、中国证券登记 结算有限责任公司深圳分公司审核确认，公司完成了 2022 年限制性股票激励计划第一 类限制性股票的授予登记工作，向 374 名激励对象授予限制性股票 2,404.45 万股，公司 的总股本由 1,088,000,000 股变更为 1,112,044,500 股。详见公司于 2022 年 11 月 26 日在 巨潮资讯网上（http://www.cninfo.com.cn）披露的《关于 2022 年限制性股票激励计划第 一类限制性股票授予完成的公告》（公告编号：2022-073）和公司于 2022 年 12 月 9 日 披露的《关于变更公司注册资本及修改<公司章程>并办理完成工商变更登记的公告》（公 告编号：2022-075）。 2023 年 11 月 7 日，公 ...

| 证券代码：301078 | 证券简称：孩子王 | 公告编号：2024-119 | | --- | --- | --- | | 债券代码：123208 | 债券简称：孩王转债 | | 孩子王儿童用品股份有限公司 关于回购公司股份的进展公告 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 导性陈述或者重大遗漏。 孩子王儿童用品股份有限公司（以下简称"公司"）于 2023 年 11 月 16 日 召开的第三届董事会第十七次会议和第三届监事会第十四次会议审议通过了《关 于回购公司股份方案的议案》，公司拟以自有资金回购公司部分股份，用于员工 持股计划或者股权激励，回购价格不超过 13.15 元/股（含），回购总金额不低于 人民币 3,000.00 万元（含本数）且不超过人民币 5,000.00 万元（含本数）。回购 实施期限自董事会审议通过回购方案之日起 12 个月内。公司已于 2023 年 11 月 22 日在巨潮资讯网披露了《回购报告书》（公告编号：2023-112）。 因公司 2023 年度权益分派已实施完毕，根据《回购报告书》的相关规定， 公司本次回购股份价格上限由不超过人民币 ...

| 证券代码：301078 | 证券简称：孩子王 | 公告编号：2024-118 | | --- | --- | --- | | 债券代码：123208 | 债券简称：孩王转债 | | 孩子王儿童用品股份有限公司 关于 2024 年第三季度可转换公司债券转股情况的公告 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 导性陈述或者重大遗漏。 经中国证券监督管理委员会《关于同意孩子王儿童用品股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可[2023]1098 号）同意，公司 于 2023 年 7 月 24 日向不特定对象发行可转债 1,039.00 万张，发行价格为每张面 值 100 元人民币，按面值发行，募集资金共计人民币 103,900.00 万元。 （二）可转债上市情况 特别提示： 1、孩王转债（债券代码：123208）转股期限为 2024 年 1 月 29 日至 2029 年 7 月 23 日，最新转股价格为 7.10 元/股。 2、2024 年第三季度，共有 239,286 张"孩王转债"完成转股（票面金额共计 23,928,600 元人民币），合计转为 3 ...

Investment Rating - The report maintains an "Overweight" rating for the company [1] Core Views - The company is partnering with Xinxuan Holdings to expand into live-streaming e-commerce, leveraging its extensive offline retail experience and Xinxuan's strong influence in live-streaming platforms [2] - The joint venture, Hangzhou Lianqi Future Co Ltd, will be 45% owned by the company and its management team, with Xinxuan Holdings holding 10% [2] - The joint venture aims to synergize the company's offline retail expertise with Xinxuan's live-streaming capabilities, particularly in the maternal and child lifestyle category, which accounts for approximately 80% of Xinxuan's annual GMV (around 40 billion yuan) [2] Financial Projections - Revenue is expected to grow from 8,752.59 million yuan in 2023 to 11,241.66 million yuan in 2026, with a CAGR of 14.48% from 2024 to 2026 [4] - Net profit attributable to shareholders is projected to increase from 105 million yuan in 2023 to 366 million yuan in 2026, with a significant growth rate of 100.23% in 2024 [4] - EPS is forecasted to rise from 0.10 yuan in 2023 to 0.33 yuan in 2026 [4] - ROE is expected to improve from 3.35% in 2023 to 10.31% in 2026 [4] Operational Metrics - The company's gross margin is projected to remain stable, ranging from 29.6% in 2023 to 30.4% in 2026 [5] - Operating margin is expected to increase from 1.7% in 2023 to 4.3% in 2026 [5] - The company's asset turnover efficiency is improving, with total asset turnover days decreasing from 359 days in 2023 to 327 days in 2026 [5] Valuation Metrics - The company's PE ratio is expected to decline from 85.17X in 2023 to 34.01X in 2026, reflecting improved profitability [4] - PB ratio is projected to decrease from 2.90X in 2023 to 3.51X in 2026 [4] - EV/EBITDA is forecasted to drop from 12.2X in 2023 to 10.6X in 2026 [5]