证券代码：301078 证券简称：孩子王 公告编号：2025-051 孩子王儿童用品股份有限公司 关于变更部分募集资金用途的公告 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。 孩子王儿童用品股份有限公司（以下简称"公司"或"上市公司"或"孩子 王"）于 2025 年 6 月 6 日召开第四届董事会第二次会议，审议通过了《关于变 更部分募集资金用途的议案》，拟将"门店升级改造项目"部分募集资金的用途 变更为支付珠海市丝域实业发展有限公司（以下简称"丝域实业"）收购项目 款项。"门店升级改造项目"原计划使用募集资金 44,408.34 万元，本次拟变更用 途的募集资金总额为 42,900.00 万元。"丝域实业收购项目"总投资金额 165,000 万元，拟使用募集资金 42,900.00 万元，剩余资金由自有资金或自筹资 金支付。 该事项需提交股东会审议。现将具体情况公告如下： 一、募集资金基本情况及使用情况 公司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， ...

证券代码：301078 证券简称：孩子王 公告编号：2025-052 孩子王儿童用品股份有限公司 关于部分募集资金投资项目延期并调整新开门店范围的公告 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。 孩子王儿童用品股份有限公司（以下简称"公司"）于 2025 年 6 月 6 日召开第 四届董事会第二次会议，审议通过了《关于部分募集资金投资项目延期并调整新 开门店范围的议案》，公司结合当前募集资金投资项目的实际实施进度，在募集 资金用途及投资规模不发生变更的前提下，同意将"零售终端建设项目"的达到预 定可使用状态的日期延期至 2027 年 4 月，同时调整该项目新开门店范围并增加实 施主体；并同意将"智能化物流中心建设项目"的达到预定可使用状态的日期延期 至 2026 年 12 月。该事项需提交股东会审议。现将具体情况公告如下： 一、募集资金基本情况 公司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， 并经深圳证券交易所同意，向不特定对象发行 103,900.0 ...

珠海市丝域实业发展有限公司 2025年1-3月及2024年度合并及母公司 财务报表审计报告书 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址：北京市丰台区丽泽路 20 号丽泽 SOHOＢ座 20 层 邮编：100073 电话：(010)51423818 传真：(010)51423816 目 录 一、审计报告 三、审计报告附件 二、审计报告附送 1. 合并资产负债表 2. 合并利润表 3. 合并现金流量表 4. 合并所有者权益变动表 5. 母公司资产负债表 6. 母公司利润表 7. 母公司现金流量表 8. 母公司所有者权益变动表 9. 财务报表附注 1. 中兴华会计师事务所（特殊普通合伙）营业执照复印件 2. 中兴华会计师事务所（特殊普通合伙）执业证书复印件 3. 注册会计师执业证书复印件 中兴华会计师事务所(特殊普通合伙) ZHONGXINGHUA CERTIFIED PUBLIC ACCOUNTANTS LLP 地址 (location): 北京市丰台区丽泽路 20 号丽泽 SOHO B 座 20 层 20/F,Tower ...

证券代码：301078 证券简称：孩子王 公告编号：2025-054 2、会议召集人：公司第四届董事会。 孩子王儿童用品股份有限公司 关于召开 2025 年第一次临时股东会的通知 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 2025 年 6 月 6 日召开 第四届董事会第二次会议，审议通过了《关于提请召开 2025 年第一次临时股东 会的议案》，会议决定于 2025 年 6 月 23 日召开公司 2025 年第一次临时股东会， 现将会议的有关事项通知如下： 一、召开会议的基本情况 1、会议届次：2025 年第一次临时股东会。 3、会议召开的合法、合规性：本次股东会的召集程序符合《中华人民共和 国公司法》《中华人民共和国证券法》《深圳证券交易所创业板股票上市规则》 等有关法律法规及《孩子王儿童用品股份有限公司章程》的规定。 4、会议召开的日期、时间： （1）现场会议召开时间为：2025 年 6 月 23 日下午 14:30。 （2）网络投票时间：2025 年 6 月 23 日。 其中通过深圳证券交易所交易系 ...

孩子王（301078）公告，公司拟通过控股子公司江苏星丝域现金收购珠海市丝域实业发展有限公司 100%股权，交易价格为人民币16.5亿元。本次交易完成后，丝域实业将成为公司的控股子公司。丝域 实业成立于2014年7月1日，长期专注深耕个护行业，成为细分行业龙头企业。交易完成后，双方将在会 员运营、市场布局、渠道共享、产业协同、业态拓展等方面充分发挥协同效应，进一步强化公司在本地 生活和新家庭服务领域的领先优势。 ...

证券代码：301078 证券简称：孩子王 公告编号：2025-049 孩子王儿童用品股份有限公司 关于第四届董事会第二次会议决议的公告 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。 一、董事会会议召开情况 孩子王儿童用品股份有限公司（以下简称"公司"）第四届董事会第二次会 议的会议通知 2025 年 5 月 23 日以书面及电子邮件形式送达全体董事，于 2025 年 6 月 6 日通过现场会议及通讯方式召开。会议应出席董事 8 名，实际出席董 事 8 名。会议由董事长汪建国先生召集并主持。符合《中华人民共和国公司法》 和《孩子王儿童用品股份有限公司章程》的有关规定，会议合法有效。 根据公司整体的战略发展及经营发展需要，公司拟向关联方五星控股集团 有限公司购买其持有的江苏星丝域投资管理有限公司（以下简称"江苏星丝 域"）65%的股权。本次交易完成后，江苏星丝域将成为公司控股子公司。 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）上 《孩子王儿童用品股份有限公司关于收购关联方股权暨与关联方共同收购丝域 实业 100%股 ...

Investment Rating - The investment rating for the company is "Buy" with a target price of RMB 19.00 [7][8] Core Insights - The company is experiencing steady growth in its offline direct sales and is expanding its franchise stores, with a target of opening 500 franchise stores by 2025. The online business is also set to contribute to growth through a new e-commerce live streaming initiative [2][4] - The company has launched its first AI toy, which is expected to capture market share due to its competitive pricing and advanced features, including a self-developed model and interactive capabilities [3][4] - The company is actively pursuing a merger and acquisition strategy to enhance its market position and diversify its product offerings, including a recent acquisition in the beauty sector [4] Summary by Sections Retail Business - Offline same-store sales are projected to grow by approximately 10% year-on-year for April-May 2025. The company has opened 30 selected franchise stores and has over 100 more in development, aiming for 500 by 2025 [2] - The online business is expanding through a joint venture for e-commerce live streaming, expected to launch in June 2025, which will enhance competitive advantages and contribute to revenue growth [2] AI Business - The company established a wholly-owned AI subsidiary in March 2025 and has launched its first AI toy priced at RMB 299, which is now available for pre-sale. This product is designed to meet high-frequency needs in entertainment and child development [3] Mergers and Acquisitions - The company is implementing a "three expansions" strategy, which includes acquiring remaining stakes in companies to optimize resource allocation and entering the beauty market to meet diverse consumer needs [4] Financial Forecast and Valuation - The company is projected to achieve net profits of RMB 3.37 billion, RMB 4.75 billion, and RMB 6.88 billion for 2025, 2026, and 2027 respectively, with corresponding EPS of RMB 0.27, RMB 0.38, and RMB 0.55 [5][6] - The target price is set at RMB 19.00, based on a PE ratio of 50 times for 2026, reflecting the company's strengthening competitive position and growth in AI business [5][7]

Core Insights - The AMAC Wholesale Retail Trade Index (AMAC批零, H11045) increased by 1.3%, closing at 1617.5 points with a trading volume of 31.254 billion [1] - Over the past month, the index has risen by 2.93%, by 1.85% over the last three months, and by 0.73% year-to-date [1] Index Composition - The AMAC Wholesale Retail Trade Index is based on 43 industry classification indices, excluding manufacturing, and is compiled according to the classification guidelines from the China Securities Association [1] - The top ten weighted stocks in the index are: Huadong Medicine (5.33%), Yonghui Supermarket (3.05%), Digital China (2.87%), Shanghai Pharmaceuticals (2.83%), Wancheng Group (2.26%), Wuchan Zhongda (2.21%), Yifeng Pharmacy (2.19%), Jiuzhoutong (1.83%), Sinopharm (1.58%), and Kidswant (1.57%) [1] Market Distribution - The market distribution of the AMAC Wholesale Retail Trade Index shows that the Shenzhen Stock Exchange accounts for 53.12%, while the Shanghai Stock Exchange accounts for 46.88% [1] Industry Breakdown - In terms of industry composition, discretionary consumption accounts for 36.90%, healthcare for 31.52%, industrials for 22.28%, staples for 4.58%, energy for 2.78%, real estate for 1.27%, and financials for 0.67% [2]

Group 1: Investment Opportunities - The report recommends expanding high school education, highlighting companies such as Tianli International Holdings and Xueda Education as potential beneficiaries [2] - AI commercialization is accelerating, with applications in new hardware like AI glasses and toys, and sectors such as human resources, e-commerce, and education leading in efficiency improvements [6][11] - The report identifies undervalued stocks including Action Education, Chongqing Department Store, Da Shang Co., Chow Tai Fook, and Yum China as potential investment opportunities [2] Group 2: High School and Undergraduate Expansion - The high school education sector is expected to benefit from a demographic dividend for the next 7-8 years, with stable demand projected until around 2032-2033 [11][12] - Policy support is driving the expansion of high school education, transitioning from a split between vocational and general education to a more integrated approach [12][13] - China's high school graduation rates are gradually approaching those of developed countries, indicating significant growth potential in the education sector [18][19] Group 3: Emotional Value and New Supply in Consumption - The emotional value and experiential consumption sectors are rapidly evolving, with a focus on IP-driven products and traditional goods like gold jewelry seeing increased demand [6][53] - The report notes that gold jewelry is benefiting from rising prices and enhanced craftsmanship, leading to market expansion [53][57] - The tea and coffee sectors are undergoing product and channel innovations, with structural growth opportunities identified despite varying business models [6][74] Group 4: Technological Transformation - New technologies, particularly AI, are being applied to physical devices and are expected to enhance efficiency across various sectors [6][11] - The retail landscape is shifting from a focus on location to product selection, with new retail formats emerging to capitalize on scale economies [6][11] - Traditional retail is facing significant pressure to adapt, with a strong impetus for transformation across all formats [6][11] Group 5: Retail Channel Development - The core capabilities of retail channels are evolving from site selection to product selection, with new discount retail formats emerging [6][11] - The report highlights the rise of discount retail formats such as snack discount stores and urban outlet malls, which are achieving scale economies [6][11] - The traditional retail sector is experiencing a shift towards decentralization, with various formats adapting to changing consumer behaviors [6][11]

孩子王(301078.SZ)公告称，根据询价申购情况，初步确定的询价转让价格为11.95元/股。参与报价的机 构投资者家数为16家，合计有效认购股份数量为2414万股，对应的有效认购倍数为1.28倍。 ...