[Important Notice, Table of Contents, and Definitions](index=2&type=section&id=Section%201%20Important%20Notice%2C%20Table%20of%20Contents%2C%20and%20Definitions) This section provides essential disclaimers, a comprehensive table of contents, a list of reference documents, and definitions of key terms for clear understanding [Important Notice](index=2&type=section&id=Important%20Notice) The board and management assure the report's accuracy and completeness, with no plans for cash dividends or bonus shares, advising investors to note risks - The company's board of directors, directors, and senior management guarantee the truthfulness, accuracy, and completeness of the semi-annual report, free from false records, misleading statements, or major omissions[4](index=4&type=chunk) - Company head Zhang Guotao, chief accountant Huang Shuairong, and head of accounting department Ou Zhipeng declare the financial report in this semi-annual report is true, accurate, and complete[4](index=4&type=chunk) - The company plans not to distribute cash dividends, bonus shares, or convert capital reserves into share capital[5](index=5&type=chunk) [Table of Contents](index=3&type=section&id=Table%20of%20Contents) The report features a clear table of contents with eight main chapters, offering a comprehensive information index for investors - The report comprises eight main chapters, ranging from important notices, table of contents, and definitions to the financial report[7](index=7&type=chunk) [Reference Documents](index=4&type=section&id=Reference%20Documents) The report lists reference documents, including signed financial statements and disclosed company files, available at the Board Secretary Office - Reference documents include financial statements bearing the signatures and seals of the company's legal representative, chief accountant, and head of accounting department[9](index=9&type=chunk) - Reference documents include originals of all company files and announcements publicly disclosed on the CSRC-designated website during the reporting period[9](index=9&type=chunk) - The aforementioned reference documents are available at the company's Board Secretary Office[10](index=10&type=chunk) [Definitions](index=5&type=section&id=Definitions) This section defines common terms like company, brand, reporting period, and professional jargon for clear report interpretation - Company, the Company, DR Corporation refers to DR Corporation Limited[11](index=11&type=chunk) - DR refers to the jewelry brand owned by DR Corporation Limited[12](index=12&type=chunk) - Reporting Period refers to **January 1, 2025 - June 30, 2025**[12](index=12&type=chunk) - DTC refers to Direct To Customer, a business model directly facing consumers[12](index=12&type=chunk) [Company Profile and Key Financial Indicators](index=7&type=section&id=Section%202%20Company%20Profile%20and%20Key%20Financial%20Indicators) This section provides an overview of the company's basic information, contact details, and a summary of key accounting data and financial indicators [Company Profile](index=7&type=section&id=I.%20Company%20Profile) This section outlines DR Corporation Limited's basic information, including stock code, listing exchange, and legal representative - Stock Abbreviation: DR Corporation, Stock Code: **301177**[14](index=14&type=chunk) - Stock Exchange: Shenzhen Stock Exchange[14](index=14&type=chunk) - Legal Representative: Zhang Guotao[14](index=14&type=chunk) [Contacts and Contact Information](index=7&type=section&id=II.%20Contacts%20and%20Contact%20Information) This section provides detailed contact information for the Board Secretary and Securities Affairs Representative, ensuring transparent disclosure - Board Secretary: Huang Shuairong, Securities Affairs Representative: Wang Tong[15](index=15&type=chunk) - Contact Address: 13F, Tower C, China Resources Land Building, Shennan Avenue, Nanshan District, Shenzhen[15](index=15&type=chunk) - Email: **IR@darryring.com**[15](index=15&type=chunk) [Other Information](index=7&type=section&id=III.%20Other%20Information) No changes occurred in company contact, disclosure, or registration during the period, indicating operational stability - No changes in the company's registered address, office address, postal code, website, or email during the reporting period; refer to the 2024 annual report for details[16](index=16&type=chunk) - No changes in information disclosure and availability locations during the reporting period; refer to the 2024 annual report for details[17](index=17&type=chunk) - No changes in the company's registration status during the reporting period; refer to the 2024 annual report for details[18](index=18&type=chunk) [Key Accounting Data and Financial Indicators](index=8&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) Operating revenue grew slightly by **0.97%** to **CNY 786.07 million**, while net profit attributable to shareholders surged by **131.61%** to **CNY 76.00 million**, despite a **175.54%** drop in operating cash flow Key Accounting Data and Financial Indicators for H1 2025 | Indicator | Current Reporting Period (CNY) | Prior Year Period (CNY) | YoY Change | | :--- | :--- | :--- | :--- | | Operating Revenue | 786,067,415.82 | 778,511,317.25 | 0.97% | | Net Profit Attributable to Shareholders of Listed Company | 76,001,168.46 | 32,814,303.45 | 131.61% | | Net Profit Attributable to Shareholders of Listed Company After Deducting Non-Recurring Gains and Losses | 2,304,155.99 | -44,496,857.72 | 105.18% | | Net Cash Flow from Operating Activities | -141,727,034.62 | 187,616,931.33 | -175.54% | | Basic Earnings Per Share (CNY/share) | 0.19 | 0.08 | 137.50% | | Diluted Earnings Per Share (CNY/share) | 0.19 | 0.08 | 137.50% | | Weighted Average Return on Net Assets | 1.19% | 0.51% | 0.68% | | **End of Current Reporting Period** | **End of Prior Year** | **Change from End of Prior Year to End of Current Reporting Period** | | | Total Assets | 7,412,523,648.82 | 7,552,292,660.57 | -1.85% | | Net Assets Attributable to Shareholders of Listed Company | 6,206,457,334.76 | 6,323,504,304.33 | -1.85% | [Differences in Accounting Data Under Domestic and Overseas Accounting Standards](index=8&type=section&id=V.%20Differences%20in%20Accounting%20Data%20Under%20Domestic%20and%20Overseas%20Accounting%20Standards) No differences exist in net profit or net assets between domestic and international accounting standards, ensuring financial report uniformity - During the reporting period, the company had no differences in net profit and net assets between financial reports disclosed under International Accounting Standards and Chinese Accounting Standards[20](index=20&type=chunk) - During the reporting period, the company had no differences in net profit and net assets between financial reports disclosed under overseas accounting standards and Chinese Accounting Standards[21](index=21&type=chunk) [Non-Recurring Gains and Losses Items and Amounts](index=8&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20Items%20and%20Amounts) Total non-recurring gains and losses were **CNY 73.70 million**, mainly from fair value changes and investment income, with some government subsidies classified as recurring Non-Recurring Gains and Losses Items and Amounts for H1 2025 | Item | Amount (CNY) | Explanation | | :--- | :--- | :--- | | Gains and Losses from Disposal of Non-Current Assets | 75,676.66 | | | Government Subsidies Included in Current Profit and Loss (Excluding) | 858,941.98 | | | Gains and Losses from Fair Value Changes of Financial Assets and Liabilities Held by Non-Financial Enterprises, and Gains and Losses from Disposal of Financial Assets and Liabilities, Excluding Effective Hedging Activities Related to Normal Business Operations | 89,303,281.67 | Fair value changes of financial assets held for trading and investment income from wealth management products during the reporting period | | Reversal of Impairment Provisions for Accounts Receivable Subject to Separate Impairment Testing | 100,688.68 | Mainly due to the recovery of lease deposits previously deemed unrecoverable due to early store closures during the reporting period | | Other Non-Operating Income and Expenses Apart from the Above Items | -33,797.47 | | | Less: Income Tax Impact | 16,607,779.05 | | | Total | 73,697,012.47 | | - Value-added tax (VAT) on diamond imports (**CNY 5,110,911.61**) that is immediately refunded for the portion exceeding a **4%** actual tax burden, and VAT exemption for small-scale taxpayers with monthly sales not exceeding **CNY 100,000** (**CNY 273,283.41**), are classified as recurring gains and losses due to their close relation to the company's normal operations, compliance with national policies, entitlement to fixed standards, and continuous impact on company profit and loss[24](index=24&type=chunk) [Management Discussion and Analysis](index=10&type=section&id=Section%203%20Management%20Discussion%20and%20Analysis) This section provides an in-depth analysis of the company's business operations, core competencies, financial performance, investment activities, and risk management strategies [Main Business Activities During the Reporting Period](index=10&type=section&id=I.%20Main%20Business%20Activities%20During%20the%20Reporting%20Period) The company, a global high-end diamond and jewelry brand, focuses on brand operation, customized sales, and R&D, achieving significant online revenue growth through optimized channels and diversified strategies [Industry Development Status](index=10&type=section&id=(I)%20Industry%20Development%20Status) China's H1 2025 jewelry market saw a **5.02%** decline to **CNY 778.8 billion**, with gold growing **9.8%** and diamonds falling **28.33%**, reflecting structural shifts and a focus on value-preserving assets - According to the '2024 China Jewelry Industry Development Report' by the Gems & Jewelry Trade Association of China, China's jewelry retail market reached **CNY 778.8 billion** in 2024, a **5.02% YoY decrease**, yet remaining the second-highest absolute value in history[27](index=27&type=chunk) - Of this, the gold product market was approximately **CNY 568.8 billion**, growing **9.8% YoY**; the diamond product market was approximately **CNY 43.0 billion**, declining **28.33% YoY**[27](index=27&type=chunk) - Rapaport's July 2025 monthly report indicates that natural diamond prices decreased by an average of **10% YoY** in H1 2025, with small carat diamonds showing particularly significant declines, while large carat diamonds remained stable in the high-end market due to their rarity and collectible value[29](index=29&type=chunk) - According to the Gems & Jewelry Trade Association of China's 'China Jewelry Market Development Report (2019-2024)', the top eight jewelry retail brands hold **40.71%** of the domestic market share, indicating continuous industry concentration[30](index=30&type=chunk) [Company's Main Business and Products](index=11&type=section&id=(II)%20Company's%20Main%20Business%20and%20Products) The company is a global high-end diamond and jewelry brand, DR Diamond Ring, operating **338** self-operated stores across nearly **200** cities, offering engagement rings, wedding bands, and other bridal jewelry - The company is a globally positioned listed enterprise specializing in high-end diamond rings and jewelry, primarily engaged in brand operation, customized sales, and R&D design of jewelry[32](index=32&type=chunk) - DR Diamond Ring operates through a global, integrated online-offline DTC retail network, covering Paris, Hong Kong, and nearly **200** cities in mainland China[32](index=32&type=chunk) - As of the end of the reporting period, DR Diamond Ring has **338** self-operated True Love Experience Stores globally[32](index=32&type=chunk) - The company's main products currently include engagement rings, wedding bands, anniversary gifts, and wedding gold[33](index=33&type=chunk) [Company's Main Operating Performance](index=12&type=section&id=(III)%20Company's%20Main%20Operating%20Performance) The company's customized self-operated sales model drove **61.68%** online revenue growth, despite a net reduction of **35** stores, while procurement surged and inventory increased by **17.99%** [Customized Fully Self-Operated Sales Model](index=12&type=section&id=1.%20Customized%20Fully%20Self-Operated%20Sales%20Model) The company's integrated self-operated sales model generated **CNY 786.07 million** in revenue, with online sales up **61.68%**, and despite **35** fewer stores, single-store revenue and efficiency saw double-digit growth - The company adopts an omnichannel integration approach, providing consumers with an integrated online-offline shopping experience, primarily offering exclusive products through customized sales[35](index=35&type=chunk) Operating Performance by Business Model for H1 2025 | Business Model | Operating Revenue H1 2025 (CNY 10,000) | Gross Profit Margin H1 2025 | Operating Revenue H1 2024 (CNY 10,000) | Gross Profit Margin H1 2024 | YoY Change (Operating Revenue) | YoY Change (Gross Profit Margin) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Online Self-Operated | 14,597.55 | 65.31% | 9,028.93 | 62.97% | 61.68% | 2.34% | | Offline Direct Sales | 56,407.40 | 67.92% | 62,323.67 | 66.38% | -9.49% | 1.54% | | Offline Joint Operations | 6,241.55 | 65.92% | 6,265.09 | 65.59% | -0.38% | 0.33% | | Other Businesses | 1,360.24 | -52.52% | 233.44 | 50.69% | 482.69% | -103.21% | | Total | 78,606.74 | 65.19% | 77,851.13 | 65.88% | 0.97% | -0.69% | - During the reporting period, the company opened **8** new

证券代码：301177 证券简称：迪阿股份 公告编号：2025-049 迪阿股份有限公司 第二届董事会第十五次会议决议公告 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、董事会会议召开情况 迪阿股份有限公司（以下简称"公司"）第二届董事会第十五次会议于 2025 年 8 月 27 日（星期三）在公司会议室以现场及通讯表决方式召开。本次会议通 知已于 2025 年 8 月 16 日以电子邮件的方式发出。会议应出席董事 8 名，实际出 席董事 8 名（其中董事陈启胜先生、独立董事李洋先生、独立董事梁俊先生、独 立董事钟敏先生以通讯表决方式出席）。本次会议由董事长张国涛先生主持，公 司高级管理人员列席了会议，会议的召集、召开和表决符合《中华人民共和国公 司法》等法律、法规和《公司章程》的规定。 二、董事会会议审议情况 经全体董事认真审议，通过了以下议案： （一）审议通过《关于<2025 年半年度报告>及其摘要的议案》 经审议，董事会认为：公司 2025 年半年度报告及其摘要真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏。 本议案已经公司董事会审计委 ...

（一）第一类限制性股票激励对象名单及拟授出权益分配情况 | | | | | 获授的第二类 | 占本激励计划 | 占本激励计划公 | | --- | --- | --- | --- | --- | --- | --- | | | | | | 限制性股票数量 | 授予权益总数 | 告日股本总额的 | | | | | | (万股) | 的比例 | 比例 | | 1 | 黄水荣 | 中国 | 董事、董事会 秘书兼财务负 责人 | 8.69 | 9.71% | 0.0217% | | 2 | 陈启胜 | 中国 | 董事、业务财 务部负责人 | 2.03 | 2.27% | 0.0051% | | 3 | 赵冉冉 | 中国 | 董事、品牌传 播部负责人 | 0.90 | 1.00% | 0.0022% | | | | 中层管理人员、核心骨干人员 （22人） | | 33.52 | 37.46% | 0.0838% | | | | 预留部分 | | 2.71 | 3.02% | 0.0068% | | | | 合计 | | 47.85 | 53.47% | 0.1196% | 注：1、公司所有在有效期内的股权激励计划所涉及 ...

关于向 2025 年限制性股票激励计划激励对象 证券代码：301177 证券简称：迪阿股份 公告编号：2025-051 迪阿股份有限公司 首次授予限制性股票的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 迪阿股份有限公司（以下简称"公司"）《2025 年限制性股票激励计划（草 案）》（以下简称"本激励计划"或"《本激励计划草案》"）规定的限制性股 票首次授予条件已经成就，根据公司 2025 年第二次临时股东会授权，公司于 2025 年 8 月 26 日及 8 月 27 日，分别召开第二届董事会薪酬与考核委员会第四次会议 和第二届董事会第十五次会议，审议通过了《关于向 2025 年限制性股票激励计划 激励对象首次授予限制性股票的议案》，确定以 2025 年 8 月 28 日为首次授予日， 向符合授予条件的 26 名激励对象首次授予限制性股票合计 71.60 万股，具体为向 其中的 2 名激励对象首次授予第一类限制性股票 26.46 万股，向其中的 25 名激励 对象首次授予第二类限制性股票 45.14 ...

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核查意见 （截至授予日） 迪阿股份有限公司（以下简称"公司"）董事会薪酬与考核委员会根据《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》、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳 证券交易所创业板股票上市规则》及《迪阿股份有限公司章程》的规定，对《迪 阿股份有限公司2025年限制性股票激励计划（草案）》（以下简称"本激励计划" 或"《激励计划》"）确定的首次授予激励对象是否符合授予条件进行核实后， 发表核查意见： 一、鉴于本激励计划首次授予激励对象中，有1名激励对象在《激励计划》公 开披露前存在买卖公司股票的行为，且该行为发生在其被登记为内幕信息知情人 后，基于审慎原则，公司决定取消该名激励对象参与本激励计划授予的资格，根 据公司2025年第二次临时股东会的授权，公司对本激励计划首次授予激励对象名 单及授予权益数量进行了调整。调整后，本激励计划首次授予激励对象人数由27 人调整为26人，授予的股票权益总量由90.19万股调整为89.49万股。 二、公司本激励 ...

证券代码：301177 证券简称：迪阿股份 公告编号：2025-050 迪阿股份有限公司 关于调整2025年限制性股票激励计划相关事项的公告 一、已履行的决策程序和信息披露情况 1、2025年7月10日，公司召开第二届董事会第十四次会议，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》《关于公司<2025年限制性股 票激励计划实施考核管理办法>的议案》及《关于提请股东会授权董事会办理公司2025 年限制性股票激励计划相关事宜的议案》。 同日，公司召开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》《关于公司<2025年限制性股票激励计划实 施考核管理办法>的议案》及《关于核实公司<2025年限制性股票激励计划首次授予激励 对象名单>的议案》。 2、2025年7月11日至2025年7月22日，公司对本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。截至公示期满，公司董事会薪酬与考核委员会和 监事会未收到与本激励计划激励对象有关的任何异议，亦无反馈记录。2025年7月23 日，公司披露了《董事会薪酬与考核委员会关于2 ...

北京市中伦（深圳）律师事务所 关于迪阿股份有限公司 2025 年限制性股票激励计划 调整及首次授予相关事项的 法律意见书 二〇二五年八月 2025 年限制性股票激励计划调整及首次授予相关事项的 法律意见书 致：迪阿股份有限公司 北京市中伦（深圳）律师事务所（以下简称"本所"）接受迪阿股份有限公 司（以下简称"迪阿股份"或"公司"）委托，就公司 2025 年限制性股票激励计 划（以下简称"激励计划"或"本激励计划"）相关事宜担任专项法律顾问，现 就本激励计划之授予激励对象人数及授予数量的调整（以下简称"本次调整"） 及向激励对象首次授予限制性股票（以下简称"本次授予"）相关事项出具本法 律意见书。 北京市中伦（深圳）律师事务所 关于迪阿股份有限公司 | 1 | ﺎﻡ | | --- | --- | | | A | | | | 为出具本法律意见书，本所律师根据有关法律、行政法规、规范性文件的规 定和本所业务规则的要求，本着审慎性及重要性原则对本激励计划的有关文件资 料和事实进行了核查和验证。对本法律意见书的出具，本所特作如下声明： 1. 本所律师在工作过程中，已得到迪阿股份的保证：即公司业已向本所律 师提供了本所 ...

迪阿股份公告，2025年上半年营业收入7.86亿元，同比增长0.97%。归属于上市公司股东的净利润 7600.12万元，同比增长131.61%。基本每股收益0.19元／股，同比增长137.50%。 ...

Market Overview - The jewelry sector saw a slight increase of 0.05% on August 26, with Xinhua Jin leading the gains [1] - The Shanghai Composite Index closed at 3868.38, down 0.39%, while the Shenzhen Component Index closed at 12473.17, up 0.26% [1] Individual Stock Performance - Xinhua Jin (600735) closed at 8.63, up 3.11% with a trading volume of 244,400 shares and a turnover of 209 million yuan [1] - Other notable performers include: - Ruibeka (600439) at 3.20, up 0.95% [1] - Cai Zhi Co. (665509) at 15.66, up 0.90% [1] - Diya Co. (301177) at 30.51, up 0.69% [1] - China Gold (600916) at 8.26, up 0.49% [1] Fund Flow Analysis - The jewelry sector experienced a net outflow of 115 million yuan from institutional investors, while retail investors saw a net inflow of 146 million yuan [2] - The detailed fund flow for key stocks includes: - China Gold (600916) with a net inflow of 25.31 million yuan from institutional investors [3] - Xinhua Jin (600735) with a net inflow of 10.85 million yuan [3] - Chao Hongxing (002345) with a net inflow of 10.52 million yuan [3] - Notable outflows were observed in: - Mingpai Jewelry (002574) with a net outflow of 5.22 million yuan from institutional investors [3] - Zhou Dazheng (002867) with a net outflow of 7.99 million yuan [3]

Group 1 - The 2025 China Fragrance, Flavor, and Cosmetics Industry Conference and Expo (2025CAME) will be held from September 25 to 27, 2025, in Nanjing, Jiangsu, focusing on the theme of "Technology, Brand, Co-prosperity" to promote a shift from traffic competition to value competition driven by technology and brand [1][2] - The event aims to create a high-quality, high-standard, and high-precision platform that responds to national policies on expanding domestic demand and promoting consumption, gathering leading companies, experts, and industry elites for deep integration of production, learning, research, and sales [1][2] - 2025CAME will establish a comprehensive ecosystem covering "information exchange, business matching, benchmark establishment, and consumer guidance," featuring numerous industry exchange meetings on key topics such as policy interpretation, global regulatory trends, and ESG green development [1][2] Group 2 - The expo has attracted over a hundred high-quality domestic and international companies and leading brands, covering the entire industry chain from raw materials to brands and distribution, facilitating technology transfer and commercial cooperation [2] - Nanjing will issue "beauty consumption vouchers" to enhance consumer experience, collaborating with well-known brands like Estée Lauder and Winona to launch cost-effective products, along with immersive activities such as fragrance experience zones and fashion shows [2] - The event will introduce the "Play Beautiful Cosmetics Festival," integrating various consumer scenarios to activate the beauty economy, emphasizing the values of "co-creating the future, sharing resources, and promoting consumption" to drive high-quality development in the Chinese fragrance and cosmetics industry [2]