证券代码：301177 证券简称：迪阿股份 公告编号：2024-025 迪阿股份有限公司 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 2023 年 12 月 28 日在公司会议 室召开第二届董事会第八次会议和第二届监事会第八次会议，于 2024 年 1 月 16 日召开了 2024 年第一次临时股东大会，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 180,000.00 万元的闲置募集资金（含超募资金）和不超过 600,000.00 万元的自有资金进行 现金管理，期限为自股东大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 2023 年 12 月 30 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：2023-064）。 近日，公司在广发证券股份有限公司、中信建投证券股份有限公司、国泰君 安证券股份有限公司分别开立了闲置募集资金现金管理 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2024-024 迪阿股份有限公司 关于公司 2024 年 4 月新增自营门店情况的公告 2024 年 5 月 9 日 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。 根据《深圳证券交易所上市公司自律监管指引第 3 号——行业信息披露》的 要求，迪阿股份有限公司（以下简称"公司"）现将 2024 年 4 月新增自营门店情 况公告如下： | 序号 | | 门店名称 | 所在地区 | 开设时间 | 经营 形式 | 面积 （m2） | 投资金额 （万元） | 主要商品 类别 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | | DR 连云港 苏宁广场店 | 江苏省 | 2024/4/7 | 直营 | 80 | 120.64 | 镶嵌饰品 | | 2 | DR | 张家口百盛 购物中心店 | 河北省 | 2024/4/10 | 联营 | 74 | 108.45 | 镶嵌饰品 | | 3 | DR | 大连开发区 亿合城店 | 辽宁省 | ...

Company Overview - Current stock price: 24.66 RMB [1] - 52-week high/low: 43.80/19.03 RMB [1] - Market capitalization: 9.864 billion RMB [1] - Free float market capitalization: 987 million RMB [1] - Total shares outstanding: 400 million [1] - Free float shares: 40 million [1] - 3-month turnover rate: 311.95% [1] Financial Performance - 2023 revenue: 2.18 billion RMB, down 40.8% YoY [16] - 2023 net profit: 69 million RMB, down 90.5% YoY [16] - 2024E revenue: 1.6 billion RMB, down 26.6% YoY [16] - 2024E net profit: 153 million RMB, up 121.4% YoY [16] - 2023 gross margin: 68.8%, down 1.0 pct YoY [9] - 2023 net margin: 3.2%, down from 19.8% in 2022 [16] - 2023 ROE: 1.1%, down from 10.7% in 2022 [16] Channel Performance - 2023 offline direct sales: 1.77 billion RMB, down 40.6% YoY [9] - 2023 online direct sales: 230 million RMB, down 42.5% YoY [9] - 2023 offline franchise sales: 180 million RMB, down 35.6% YoY [9] - 2023 store closures: 184 stores [15] - Q1 2024 net store closures: 37 stores [15] - Total stores as of Q1 2024: 491 [15] Valuation Metrics - 2024E P/E: 64.6x [16] - 2025E P/E: 36.8x [16] - 2026E P/E: 24.7x [16] - 2024E P/B: 1.5x [16] - 2025E P/B: 1.5x [16] - 2026E P/B: 1.5x [16] Strategic Initiatives - Focus on core brand DR [15] - Upgrade brand image and optimize brand communication [15] - Develop emotionally strong products [15] - Optimize store operations and enhance customer experience [15] - Focus on building flagship store capabilities [15] Industry Context - Diamond jewelry category faces pressure from changing consumer trends [13] - Company actively adjusting channels and closing underperforming stores [14] - Industry undergoing cyclical adjustments [15] - Company positioning to navigate industry challenges through brand, product, and channel strategies [26] Analyst Rating - Maintain "Buy" rating [13] - Target price not explicitly stated - Valuation considered reasonable given company's market position and strategic initiatives [25]

Investment Rating - The report maintains a "Buy" rating for the company [2][9]. Core Views - The company's revenue and profit are under pressure due to a decline in diamond consumption and proactive channel adjustments initiated in Q2 2023. The company closed 160 stores in 2023 and 37 stores in Q1 2024, leading to a short-term decrease in sales [9][10]. - The company reported a revenue of 2.18 billion yuan in 2023, a year-on-year decrease of 40.78%, and a net profit attributable to the parent company of 69 million yuan, down 90.54% year-on-year [9][10]. - For 2024, the company expects a gradual recovery in revenue and profit, with projected net profits of 49 million yuan, 82 million yuan, and 120 million yuan for 2024, 2025, and 2026 respectively, reflecting year-on-year changes of -28.5%, +66.8%, and +45.5% [2][34]. Financial Summary - The company's total revenue is projected to decline from 2.18 billion yuan in 2023 to 1.61 billion yuan in 2024, with a year-on-year decrease of 26.2% [34]. - The gross profit margin is expected to decrease from 68.8% in 2023 to 65.9% in 2024 [34]. - The earnings per share (EPS) are projected to be 0.12 yuan in 2024, 0.21 yuan in 2025, and 0.30 yuan in 2026, with corresponding price-to-earnings (P/E) ratios of 191, 114, and 79 respectively [2][34].

Revenue Performance - In 2023, the revenue from online self-operated sales was CNY 22,708.81 million, a decrease of 42.45% compared to CNY 39,459.33 million in 2022[14]. - The revenue from offline direct sales was CNY 176,941.40 million, down 40.63% from CNY 298,037.34 million in the previous year[14]. - The overall revenue for the company in 2023 was CNY 218,027.77 million, a decline of 40.78% from CNY 368,157.45 million in 2022[14]. - The single-store revenue for direct-operated stores decreased by 47.24% to CNY 3.0298 million, while the single-store gross profit fell by 48.43% to CNY 2.0997 million[17]. - The single-store revenue for joint-operated stores was CNY 3.4088 million, down 39.31%, with a gross profit of CNY 2.3195 million, a decrease of 39.57%[17]. - The sales volume of jewelry in 2023 was 360,990 pieces, a decrease of 30.26% from 517,656 pieces in 2022[30]. Procurement and Inventory - In 2023, the total procurement amount was CNY 51,752.18 million, a decrease of 59.79% compared to CNY 128,699.52 million in 2022[22]. - Diamond procurement amounted to CNY 25,214.39 million, accounting for 48.72% of total procurement, down from 39.55% in 2022[22]. - The company reported a significant decline in commissioned processing, with a procurement amount of CNY 20,022.91 million, down 74.26% from CNY 77,796.66 million in 2022[22]. - The inventory balance at the end of the reporting period was CNY 53,717.68 million, with a provision for inventory impairment of CNY 1,023.78 million[25]. - The company’s raw material inventory at the end of the period was CNY 12,650.75 million, a decrease of 6.06% from CNY 13,467.14 million at the beginning of the year[32]. Financial Performance - The company’s operating cash inflow decreased by 41.59% to ¥2,363,975,825.01 compared to ¥4,047,355,144.09 in the previous year[57]. - The net cash flow from operating activities dropped significantly by 95.48% to ¥36,965,507.81 from ¥818,011,112.24[57]. - Total investment cash inflow increased by 58.44% to ¥8,574,936,260.32, while investment cash outflow decreased by 16.49% to ¥8,121,047,907.58[57]. - The net cash flow from investment activities turned positive at ¥453,888,352.74, a significant improvement from a negative ¥4,313,046,089.09 in the previous year[57]. - The company reported a significant decrease in cash and cash equivalents, with a net decrease of ¥294,661,419.66, compared to a much larger decrease of ¥4,219,885,422.83 in the previous year[57]. Strategic Initiatives - The company plans to enhance its core competitiveness and brand influence to capture greater market share during the industry's adjustment phase[4]. - The company is focusing on digital transformation and consumer-centric strategies to adapt to changing market dynamics and consumer preferences[9]. - The company is focusing on optimizing its channel strategy and enhancing brand image through flagship store upgrades in high-potential commercial areas[36]. - The company aims to build a sustainable talent pool to support its long-term development and has made significant organizational upgrades in response to business growth[39]. - The company plans to optimize its channel structure and focus on key commercial projects in first and second-tier cities, while gradually returning to a single-store model in lower-tier cities[93]. Market Trends and Consumer Behavior - The overall gold consumption in China reached 1,089.69 tons in 2023, an increase of 8.78% compared to the previous year[7]. - The jewelry industry concentration in China increased from 19.1% in 2016 to nearly 35.6% in 2023, indicating a trend towards market consolidation among leading brands[6]. - The average price of natural diamonds in 2023 saw significant declines, with prices dropping by 25.9%, 20.6%, and 11.3% across various segments, reflecting weak market demand[4]. - The company has a large and active fan base of over 30 million on domestic social media platforms, enhancing brand recognition among younger consumers[27]. - The company reported a significant increase in the influence of recommendations and collaborations on consumer purchasing behavior, with a 25% year-on-year growth in 2023[163]. Future Outlook and Plans - The company provided a positive outlook for the future, projecting a revenue growth of 15% for the next fiscal year[122]. - The company is expanding its market presence, targeting a 10% increase in market share by entering three new regions by the end of 2024[122]. - The company plans to increase investment in product design and technology R&D, aiming to launch new products that meet market demand and enhance product quality and diversification[113]. - The company aims to enhance brand building while adhering to its core brand philosophy to address industry cycle adjustments[195]. - The company plans to enhance brand power by deepening emotional connections with users and innovating product communication strategies[92]. Governance and Compliance - The company emphasizes its commitment to corporate governance and transparency, ensuring compliance with regulatory standards[128][130]. - The company has revised its governance structure and internal management systems to comply with relevant laws and regulations[145]. - The board of directors consists of 9 members, including 3 independent directors, and has held 4 meetings during the reporting period[147]. - The supervisory board has 3 members and has also held 4 meetings, ensuring strict supervision of the company's operations and financial status[148]. - The company is committed to timely and accurate information disclosure to ensure all shareholders have equal access to information[148]. Challenges and Risks - The company faces risks from external economic conditions affecting consumer behavior, particularly in the diamond embedded jewelry market, which has seen slow recovery[95]. - The company is facing challenges in store operations management under a fully self-operated sales model due to insufficient consumer demand and external uncertainties[138]. - The company recognizes risks related to market fluctuations and brand influence, implementing measures to strengthen brand building and product innovation[118]. - The company has implemented measures to optimize internal processes and reduce fixed rental costs to improve operational efficiency[138]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of $100 million earmarked for potential mergers and acquisitions[122].

证券代码：301177 证券简称：迪阿股份 公告编号：2024-013 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 4 月 25 日召开第二届董 事会第九次会议和第二届监事会第九次会议，审议通过了《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》，本议案尚需提交公司 2023 年年度股东 大会审议，现将相关事项公告如下： 一、申请综合授信额度及预计担保额度情况概述 1、申请综合授信额度情况 根据公司 2024 年经营计划安排及子公司未来经营需求，公司及控股子公司 拟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）有限公司可共用授信额度不超过人民币 30,000.00 万元且由公 司为其提供连带责任保证担保。上述授信额度期限为自股东大会审议通过之日起 十二个月内；银行授信内容包括但不限于银行贷款、银行承兑汇票、保函、信用 证、远期结售汇、黄金租赁等信贷业务。综合授信额度不等于公司及 ...

| About this report | 01 | | --- | --- | | Message from the Management | 02 | | Our 2023 | 03 | | ESG Strategy and Management | Of | | --- | --- | | ESG Strategy and Model | 05 | | ESG Management System | 07 | | ESG Materiality Analysis | 08 | | Product Innovation and Service Enhancement | | --- | | Leading Development with Innovation | | Advocating Ultimate Service | | Creating High-Quality Products | | e Growth and Community Welfare | 34 | | --- | --- | | Employee Growth | 35 | | ng to Community Welfare | ...

证券代码：301177 证券简称：迪阿股份 公告编号：2024-012 关于调整公司独立董事薪酬方案的公告 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 4 月 25 日在公司会议 室召开第二届董事会第九次会议，审议通过了《关于调整公司独立董事薪酬方 案的议案》，三名独立董事对该议案回避表决。本议案尚需提交 2023 年年度股 东大会审议，现将有关情况公告如下： 一、独立董事薪酬调整方案 根据《上市公司独立董事管理办法》及《公司章程》等相关规定，为有效 调动公司独立董事的工作积极性，保障独立董事投入更多时间和精力参与公司 治理，进一步促进独立董事勤勉尽责，参照公司所处地区经济发展状况、同行 业上市公司独立董事薪酬水平及公司实际情况，公司拟对独立董事薪酬方案进 行调整，具体如下： 1、独立董事薪酬由每人税前人民币 10 万元/年调整至每人税前人民币 15 万元/年； 2、独立董事薪酬按季度发放； 3、上述薪酬为税前金额，涉及个人所得税由公司统一代扣代缴。 二、本方案适用期 自 2023 年年度股东大会审议通 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2024-016 迪阿股份有限公司 关于修订《公司章程》并办理工商变更登记的公告 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 4 月 25 日召开了第二届 董事会第九次会议，审议通过了《关于修订<公司章程>并办理工商变更登记的议 案》，上述议案尚需提交公司股东大会审议，现将有关情况公告如下： 一、关于修订《迪阿股份有限公司章程》的情况 根据《上市公司监管指引第 3 号——上市公司现金分红（2023 年修订）》 《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》 等法律、法规、规范性文件的有关规定，结合公司的实际情况，现拟对《公司章 程》中部分条款进行修订并办理工商变更登记。 | 修订前 | 修订后 | | --- | --- | | 第一百五十三条 | 第一百五十三条 | | …… | …… | | 公司弥补亏损和提取公积金后所余税后利 | 公司弥补亏损和提取公积金后所余税后利 | | 润，按照股东持有的股份比例分配。 | 润 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2024-011 迪阿股份有限公司 关于募集资金投资项目延期的公告 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 4 月 25 日在公司会议室 召开第二届董事会第九次会议和第二届监事会第九次会议，审议通过了《关于募 集资金投资项目延期的议案》，同意公司在募集资金投资项目实施主体、实施方 式、募集资金投资用途及投资规模不发生变更的情况下，对募投项目"信息化系 统建设项目"预计达到可使用状态的日期由 2024 年 12 月 31 日延期至 2026 年 12 月 31 日。根据《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》等法律法规的规定，公司本次募投项目延期事项在董事会审批 权限范围内，无需提交股东大会审议。现将具体情况公告如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意迪阿股份有限公司首次公开发行股票 注册的批复》证监许可[2021]3043 号同意注册，并经深圳证券交易所同意，公 司首次公开发行人民币普通 ...