Core Viewpoint - Hush Puppies is undergoing a transformation in the Chinese market, shifting from a clothing brand to a lifestyle partner, with the opening of its first flagship store in Shanghai [2][4]. Group 1: Brand Transformation - The new flagship store emphasizes a "home" theme, aiming to convey warmth and comfort, primarily showcasing adult apparel and the 2025 autumn/winter collection [1][4]. - The brand's transition is part of a broader strategy by Gamman Fashion, which acquired Hush Puppies' IP assets for approximately 430 million RMB, to consolidate and enhance brand image in China [4][5]. Group 2: Market Positioning - Hush Puppies targets middle to high-income consumers in high-tier cities, competing with brands like Aigle, Ralph Lauren, and Haggis [7]. - The pricing strategy for adult apparel ranges from 500 to 2000 RMB, with some items priced up to 4000 RMB, indicating a focus on the mid to high-end market [8]. Group 3: Retail Strategy - Gamman Fashion is optimizing Hush Puppies' retail presence by opening new stores in high-traffic areas and upgrading existing locations, aiming to increase market share [9][11]. - The company plans to replace underperforming stores and expand into new premium retail channels, including regional flagship stores [9]. Group 4: Marketing and Brand Identity - Recent marketing efforts have focused on themes related to equestrian activities and pets, aligning with the interests of the target demographic [9]. - Hush Puppies has a rich brand history since its establishment in 1958, which Gamman Fashion aims to leverage to enhance brand value perception among consumers [7][11]. Group 5: Challenges and Future Outlook - Gamman Fashion faces challenges in establishing a strong presence in the adult apparel and footwear sectors, which are new areas for the company [12]. - The company has experienced stable revenue between 1 billion to 1.2 billion RMB from 2020 to 2024, but lacks a significant growth driver to break through current performance levels [12][14]. - Industry analysts suggest that building Hush Puppies into a prominent mid to high-end brand will require a sustained investment over the next two to three years [14].

Group 1 - The actual controllers of the company, including Liu Wei, Cao Shengkui, Ma Lijuan, and Liu Linggui, have renewed the "Joint Action Agreement" on September 9, 2025, after its expiration on January 1, 2018, to ensure continuity and stability in the company's development and management [1]

格隆汇9月11日丨嘉曼服饰(301276.SZ)公布，公司实际控制人刘溦先生、曹胜奎先生、马丽娟女士、刘 林贵女士于2018年1月1日签署的《一致行动协议》已到期，为了公司保持发展和经营管理的连贯性和稳 定性，上述四位股东于2025年9月9日续签《一致行动协议》。 ...

证券代码：301276 证券简称：嘉曼服饰 公告编号：2025-036 北京嘉曼服饰股份有限公司 关于实际控制人续签一致行动协议的提示性公告 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、误导性陈述或者重大遗漏。 北京嘉曼服饰股份有限公司（以下简称"公司"）实际控制人刘溦先生、曹 胜奎先生、马丽娟女士、刘林贵女士于 2018 年 1 月 1 日签署的《一致行动协议》 已到期，为了公司保持发展和经营管理的连贯性和稳定性，上述四位股东于 2025 年 9 月 9 日续签《一致行动协议》，具体情况如下： 一、《一致行动协议》续签前相关情况 公司股东刘溦先生、曹胜奎先生、马丽娟女士、刘林贵女士于 2018 年 1 月 1 日签署《一致行动协议》，各方一致同意在处理有关需经公司董事会/股东大会 审议批准的事项时，四方或四方中的任何相关方应采取一致行动，确立对公司的 共同控制地位，本协议自各方签署之日起生效，并在公司成功上市后的三年内持 续有效。 二、本次协议签署概况 3、董事会/股东大会召开前，四方或四方中的任何相关方应就董事会/股东大 会拟进行表决的议案进行充分沟通协商，就行使何种表决权达 ...

Core Insights - As of September 10, a total of 124 stocks in the Shanghai and Shenzhen markets have experienced net financing inflows for five consecutive days or more [1] - The stock with the longest consecutive net inflow is Yunnan Energy Investment, which has seen net buying for 17 trading days [1] - Other notable stocks with significant consecutive net inflows include JuFei Optoelectronics, Dangsheng Technology, Dongwu Securities, Yintang Intelligent Control, Bolong Technology, Jiama Clothing, China Chemical, and Jindalai [1]

Group 1 - The core viewpoint of the news is that Jiama Clothing (SZ 301276) has provided insights into its business structure during an investor meeting, highlighting the significant contribution of children's clothing to its revenue [1] - For the first half of 2025, Jiama Clothing's revenue composition shows that children's clothing accounts for 75.95%, men's and women's clothing for 22.87%, and other businesses for 1.18% [1] - As of the report, Jiama Clothing has a market capitalization of 2.9 billion yuan [2]

编号：2025-016 | 投资者关系活动 | 特定对象调研 □分析师会议 | | --- | --- | | 类别 | 媒体采访 □业绩说明会 | | | □新闻发布会 路演活动 | | | □现场参观 | | | 其他-策略会 | | 参与单位名称及 | 1、华创证券-刘一怡 | | 人员姓名 | 2、工银瑞信-郑勇勇 | | | 3、民生加银基金-刘浩 | | | 4、中加基金-赵雯晰 | | 时间 | 2025 年 9 月 9 日 | | 地点 | 北京中国大饭店 | | 上市公司接待人 | 副总经理、董事会秘书：程琳娜 | | 员姓名 | | | | 公司接待人员就与会人员提出的以下问题进行了逐一解 | | | 答： | | | 1、公司近期是否感受到消费市场有所好转。 | | | 根据公司销售部门的反馈，随着秋季新品的上市、北方气 | | | 候的转凉以及开学季的到来，并且公司各品牌产品、陈列、店 | | | 铺形象的陆续升级，8 月份各品牌的销售情况良好，同比数据 | | | 均有所增长，近期消费者的消费意愿有所增加。 | | 投资者关系活动 | | | | 2、公司认为暇步士（Hush ...

Group 1 - The company held a conference call on September 5, 2023, with six institutions including Changjiang Securities and various fund management companies for targeted research [1] - The company reported a decrease in other business income due to the expiration of the licensing agreement for the Hush Puppies adult footwear category, leading to a reduction in licensing fees [2] - The company plans to self-manage the Hush Puppies adult footwear category, with changes in online and offline sales channels [2] Group 2 - The company has seen growth in its men's and women's clothing business, with revenue from this category expected to reach 10.06% by the end of 2024, up from 22.87% in the first half of this year [3] - The company aims to further develop its men's and women's clothing business through product upgrades and channel expansion [3] - Positive sales feedback was reported for August, attributed to the launch of autumn new products and improved store presentations, indicating increased consumer spending [4] Group 3 - The company has experienced a reduction in government subsidies in the first half of the year, primarily due to decreased support funds for subsidiaries [5] - The company maintains a stable dividend policy and may consider increasing the dividend ratio if profitability continues to improve without significant capital expenditures [4]

Group 1 - The core viewpoint of the article highlights that Jiama Clothing (SZ 301276) has engaged with investors through a research meeting, indicating active investor relations and transparency [1] - For the first half of 2025, Jiama Clothing's revenue composition shows that children's clothing accounts for 75.95%, while men's and women's clothing represents 22.87%, and other businesses contribute 1.18% [1] - As of the report, Jiama Clothing has a market capitalization of 2.9 billion yuan [1] Group 2 - The article also discusses the challenges faced by Haidilao, noting that the survival rate of its sub-brands is below 50%, indicating potential issues in brand management and diversification strategies [1]

Group 1: Financial Performance - The decrease in other business income in the 2025 semi-annual report is primarily due to the expiration of the licensing agreement for Hush Puppies adult footwear, leading to a corresponding reduction in licensing fees [2][3] - The revenue proportion for Hush Puppies men's and women's clothing increased from 10.06% at the end of 2024 to 22.87% in the first half of 2025, indicating strong growth in this category [2][3] Group 2: Future Plans and Market Outlook - The company plans to self-manage the Hush Puppies adult footwear category following the expiration of the licensing agreement, with ongoing changes in online and offline sales channels [3] - The adult footwear will maintain an American casual style, focusing on comfort while incorporating consumer preferences and seasonal trends [3] - Recent feedback indicates an improvement in consumer sentiment, with sales growth observed in August due to new autumn products and seasonal changes [3] Group 3: Dividend and Government Support - The company aims to maintain a relatively stable dividend payout ratio, with potential increases as profitability improves and without significant capital expenditures [3] - The reduction in government subsidies in the first half of the year is attributed to decreased support funds in the subsidiary's location [3]