Core Viewpoint - The company is undergoing a strategic adjustment period in the jewelry industry, with a focus on optimizing product offerings and enhancing brand recognition to adapt to changing consumer preferences and market conditions [5][7]. Group 1: Company Performance and Financials - As of July 25, 2025, the company reported a decline in average customer price for 2024, estimated at approximately 9,000 yuan, with online sales averaging 4,000 yuan and offline sales averaging 11,000 yuan, reflecting a slight decrease compared to 2023 [2][4]. - The revenue structure for 2024 indicates that engagement rings will account for about 77% of total revenue, while wedding bands will represent approximately 20% [3]. Group 2: Customer Demographics - As of March 2025, the age distribution of customers shows that 64.8% are aged 25-34, contributing to 63% of sales, while the 35 and older demographic has increased its sales contribution to 24.6% [4]. Group 3: Strategic Initiatives - The company has launched a stock incentive plan aimed at enhancing team motivation and aligning the interests of shareholders, the company, and core team members, with a total of 901,900 shares to be granted, representing 0.23% of total shares [6]. - The performance metrics for the stock incentive plan include revenue growth rate and net profit attributable to shareholders after excluding non-recurring gains and losses, reflecting the company's operational performance and growth potential [6]. Group 4: Industry Outlook - The jewelry industry is entering a structural adjustment phase, with signs of gradual recovery supported by stable demand in the wedding market and ongoing upgrades in self-consumption [5]. - The company is focusing on the wedding consumption market, particularly in gold products, which are seen as essential in wedding ceremonies, and aims to balance traditional and modern aesthetic values in its product offerings [7].

迪阿股份首次公开发行股票募集资金总额为46.76亿元，扣除发行费用后募集资金净额为44.44亿元，较 原拟募资净额多31.60亿元。此前披露的招股书显示，迪阿股份原拟募资12.84亿元，拟分别用于渠道网 络建设项目、信息化系统建设项目、钻石珠宝研发创意设计中心建设项目、补充营运资金项目。 迪阿股份首次公开发行股票的发行费用总额为2.33亿元，其中中信建投证券获得保荐费及承销费2.17亿 元。 迪阿股份于2021年12月15日在深交所创业板上市，发行新股4001万股，发行价格为116.88元/股，保荐机 构是中信建投（601066）证券，保荐代表人是胡方兴、方逸峰。 上市首日，迪阿股份盘中创下股价高点180元，此后股价震荡下跌。 中国经济网北京7月29日讯迪阿股份（301177）(301177.SZ)今日收报27.87元，跌幅3.03%。目前该股处 于破发状态。 ...

Group 1: Revenue and Pricing Insights - The average customer price for 2024 is approximately 0.9 million yuan, with online prices around 0.4 million yuan and offline prices about 1.1 million yuan, showing a slight decline compared to 2023 [1] - The revenue share for engagement rings is about 77%, while wedding bands account for approximately 20%, with other jewelry sales making up the remainder [1] Group 2: Customer Demographics - As of March 2025, users under 24 years old represent 17.1% of the total user base, contributing 12.4% to sales; users aged 25-34 make up 64.8% of users and 63% of sales; users over 35 account for 18.1% of users and 24.6% of sales [2] - The 25-34 age group remains the primary revenue source, while the sales contribution from users over 35 is increasing, indicating a shift in growth sources [2] Group 3: Stock Incentive Plan - The stock incentive plan announced on July 11, 2025, involves granting up to 901,900 shares, representing 0.23% of the total share capital, to 27 key personnel [3] - The plan aims to align the interests of shareholders, the company, and core team members, enhancing motivation and retaining talent during a structural adjustment in the jewelry industry [3][4] Group 4: Business Development and Strategy - The company is in a critical exploration phase for its gold business in 2024, focusing on market research and consumer insights, particularly in wedding consumption [5] - The strategy emphasizes creating products that balance traditional ceremonial significance with modern aesthetics, targeting the wedding market while extending to lifelong wear [5]

证券代码：301177 证券简称：迪阿股份 公告编号：2025-042 迪阿股份有限公司 关于使用部分闲置募集资金进行现金管理的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 迪阿股份有限公司（以下简称"公司"）于 2024 年 12 月 26 日在公司会议 室召开第二届董事会第十二次会议和第二届监事会第十二次会议，于 2025 年 1 月 14 日召开了 2025 年第一次临时股东会，审议通过了《关于使用部分闲置募集 资金及自有资金进行现金管理的议案》，同意公司使用不超过人民币 165,000.00 万元的闲置募集资金（含超募资金）和不超过 550,000.00 万元的自有资金进行现 金管理，期限为自股东会审议通过该事项之日起 12 个月内，在上述额度和期限 内，资金可循环滚动使用。具体内容详见公司于 2024 年 12 月 28 日在巨潮资讯 网（www.cninfo.com.cn）披露的《关于使用部分闲置募集资金及自有资金进行现 金管理的公告》（公告编号：2024-061）。 根据上述决议，公司近期已使用部分闲置募集资金（含超募资金）进行现金 ...

一、公示情况及核查方式 （一）公示情况 年限制性股票激励计划（草案）》（以下简称"《激励计划》"）及其摘要、 《2025年限制性股票激励计划实施考核管理办法》以及《2025年限制性股票激励 计划首次授予激励对象名单》。 名和职务进行了公示，公示期间共计12天，公示期间公司员工可向公司监事会提 出意见。 证券代码：301177 证券简称：迪阿股份 公告编号：2025-041 迪阿股份有限公司 监事会关于2025年限制性股票激励计划首次授予激励对象名单的 公示情况说明及核查意见 本公司监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 迪阿股份有限公司（以下简称"公司"）于2025年7月10日召开第二届董事 会第十四次会议和第二届监事会第十四次会议，审议通过了《关于公司<2025年 限制性股票激励计划（草案）>及其摘要的议案》等相关议案，具体内容详见公 司于2025年7月11日在巨潮资讯网（www.cninfo.com.cn）披露的相关公告。根据 《上市公司股权激励管理办法》（以下简称"《管理办法》"）的相关规定，公 司对2025年限制性股票激励计划首次授予激励对象的姓名和职 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2025-040 迪阿股份有限公司 董事会薪酬与考核委员会关于 2025 年限制性股票激励计划首次 授予激励对象名单的公示情况说明及核查意见 本公司董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 迪阿股份有限公司（以下简称"公司"）于2025年7月10日召开第二届董事 会第十四次会议和第二届监事会第十四次会议，审议通过了《关于公司<2025年 限制性股票激励计划（草案）>及其摘要的议案》等相关议案，具体内容详见公 司于2025年7月11日在巨潮资讯网（www.cninfo.com.cn）披露的相关公告。根据 《上市公司股权激励管理办法》（以下简称"《管理办法》"）的相关规定，公 司对2025年限制性股票激励计划首次授予激励对象的姓名和职务在公司内部进行 了公示，公司董事会薪酬与考核委员会结合公示情况对激励对象进行了核查，相 关公示情况及核查情况如下： 一、公示情况及核查方式 2、本次拟激励对象的基本情况属实，不存在虚假、故意隐瞒或致人重大误 解之处。 3、本次拟激励对象不存在不得成为激励对象的下列情形： （一）公示 ...

一、公示情况及核查方式 （一）公示情况 证券代码：301177 证券简称：迪阿股份 公告编号：2025-041 迪阿股份有限公司 监事会关于2025年限制性股票激励计划首次授予激励对象名单的 公示情况说明及核查意见 本公司监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 迪阿股份有限公司（以下简称"公司"）于2025年7月10日召开第二届董事 会第十四次会议和第二届监事会第十四次会议，审议通过了《关于公司<2025年 限制性股票激励计划（草案）>及其摘要的议案》等相关议案，具体内容详见公 司于2025年7月11日在巨潮资讯网（www.cninfo.com.cn）披露的相关公告。根据 《上市公司股权激励管理办法》（以下简称"《管理办法》"）的相关规定，公 司对2025年限制性股票激励计划首次授予激励对象的姓名和职务在公司内部进行 了公示，公司监事会结合公示情况对激励对象进行了核查，相关公示情况及核查 情况如下： 1、公司于2025年7月11日在巨潮资讯网（www.cninfo.com.cn）披露了《2025 年限制性股票激励计划（草案）》（以下简称"《激励计划》"）及其摘 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2025-039 迪阿股份有限公司 关于公司及子公司向银行申请综合授信并提供担保的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 一、担保情况概述 迪阿股份有限公司（以下简称"公司"）分别于 2025 年 4 月 24 日、2025 年 5 月 28 日召开第二届董事会第十三次会议、第二届监事会第十三次会议和 2024 年年度股东会，审议通过《关于公司及子公司向银行申请综合授信并提供 担保的议案》，同意公司及控股子公司向银行申请总额不超过人民币 500,000.00 万元的授信额度，其中全资子公司好多钻石（深圳）有限公司和好多钻石智造（深 圳）有限公司授信额度各不超过人民币 30,000.00 万元且由公司为其提供连带责 任保证担保。具体内容详见公司 2025 年 4 月 26 日披露于巨潮资讯网 （www.cninfo.com.cn）的《关于公司及子公司向银行申请综合授信并提供担保 的公告》（公告编号：2025-014）。 二、担保进展情况 2025 年 7 月 15 日，公司与中国银行股份有限 ...

Group 1 - The company has launched a restricted stock incentive plan, reflecting confidence in its future development, with a total of up to 901,900 shares to be granted, accounting for approximately 0.23% of the total share capital [2] - The initial grant will consist of 722,800 shares, representing about 0.18% of the total share capital, with a grant price set at 15.12 yuan per share [2] - The performance assessment for the incentive plan is based on revenue growth rates exceeding 10%/20%/33%/46% from 2025 to 2028, and net profit targets for the same period [2] Group 2 - The company is optimizing its store operations and channel structure, focusing on enhancing store efficiency and upgrading the customer experience, with significant performance improvements observed in trial stores [3] - The average performance growth of 7-8 trial stores exceeded 50%, and the optimization plan is expected to be rolled out to over 100 similar stores in 2025 [3] - The online direct sales channel is experiencing rapid growth due to market expansion and targeted marketing strategies, with an increase in registered users on the official website [3] Group 3 - The company is focusing on high-end diamond rings and jewelry, actively optimizing its channel structure to improve operational efficiency, with a stabilization in revenue gaps expected in Q1 2025 [4] - Earnings per share (EPS) forecasts for 2025, 2026, and 2027 are projected to be 0.40, 0.51, and 0.66 yuan respectively, with corresponding price-to-earnings (PE) ratios of 72, 56, and 43 times [4] - The company aims to achieve a turnaround by expanding into the gold inlay product category, which is expected to contribute to revenue growth [4]

Investment Rating - The report assigns an "Accumulate" rating for the company for the first time [2][9]. Core Insights - The company has launched a stock incentive plan, demonstrating confidence in its future development. The plan involves granting a total of up to 901,900 shares, accounting for approximately 0.23% of the total share capital, with a grant price of 15.12 yuan per share [5]. - The company is actively optimizing its store network and has seen significant growth in its online direct sales channel, with some optimized stores achieving over 50% sales growth [6]. - The company is focusing on high-end diamond rings and jewelry, with a stable recovery in same-store sales expected as channel adjustments take effect [7]. Summary by Sections Incentive Plan - The company plans to grant stock rights totaling up to 901,900 shares, with the first grant of 722,800 shares. The performance assessment requires revenue growth rates of over 10%/20%/33%/46% from 2025 to 2028, and net profit targets of over 0.36/1.00/1.50/2.00 billion yuan [5]. Store Optimization - The company is enhancing store efficiency and adjusting its channel strategy, focusing on high-performing malls and eliminating underperforming stores. The average performance of optimized stores has increased by over 50%, with plans to extend this strategy to over 100 similar stores in 2025 [6]. Profit Forecast - The company is expected to stabilize its revenue gap in Q1 2025, with same-store sales gradually recovering. The earnings per share (EPS) forecasts for 2025-2027 are 0.40, 0.51, and 0.66 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 72, 56, and 43 times [7][9].