格隆汇2月3日丨致欧科技(301376.SZ)公布，截至本公告日，本次回购方案已实施完毕，公司通过股票 回购专用证券账户以集中竞价交易方式回购股份2,905,400股，占公司目前总股本的0.72%，最高成交价 为20.24元/股，最低成交价为14.82元/股，成交金额为50,001,617.00元（不含交易费用）。上述回购符合 公司回购股份方案及相关法律法规的要求。公司回购股份总金额已超回购方案中回购资金总额下限 5,000万元，且未超过回购方案中回购资金总额上限10,000万元。 ...

Investment Rating - The report maintains a positive investment rating for the cross-border e-commerce industry [11]. Core Insights - Cross-border e-commerce is characterized by high customer unit prices and high markup rates, but it has a longer midstream chain, leading to significant fluctuations in profitability [22]. - The industry is currently in a recovery phase, with a projected revenue growth of 26% in 2024 and 15% in Q1-Q3 of 2025, while non-recurring net profits are expected to decline by 46% and grow by 1% respectively [3][7]. - The report emphasizes the cyclical nature of profitability in the industry, with leading sellers gaining a relative advantage [8]. Summary by Sections Introduction: Exploring the Operating Cycle of Cross-Border E-Commerce - Cross-border e-commerce involves pre-stocking goods in overseas warehouses and includes complex logistics processes such as customs clearance and last-mile delivery, making it more intricate than traditional consumer goods [3][7]. Review: Strong Profitability Cycles and Head Seller Advantages - Historical analysis shows that the penetration rate of overseas e-commerce and the share of Chinese sellers are increasing, establishing a high growth baseline for the industry [8]. - The industry is transitioning from a phase dominated by e-commerce dividends to one focused on quality and compliance, with leading sellers outperforming overall industry growth [8]. Current Situation: Negative Impacts Easing, Industry Bottoming Out - The industry is currently in a recovery phase, driven by orderly supply chain transitions and tax reforms in China's e-commerce sector, which enhance competitive dynamics among leading sellers [9]. - Inventory levels among top sellers have reached historical lows, indicating that the inventory destocking phase is nearing its end, and shipping costs still have room to decline [9]. Investment Recommendations: Lightening the Load, Performance Inflection Point Expected - The report suggests that the cross-border e-commerce industry is expected to experience a performance inflection point in 2026, with revenue and profitability on an upward trajectory [10]. - Recommended companies include Anker Innovations and Ugreen Technology, which are leveraging channel and operational advantages to build brand recognition among overseas consumers [10].

证券代码：301376 证券简称：致欧科技 公告编号：2026-002 致欧家居科技股份有限公司 关于回购股份进展暨回购实施结果的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 致欧家居科技股份有限公司（以下简称"公司"）于 2025 年 2 月 10 日召开 第二届董事会第十三次会议、第二届监事会第十一次会议审议，审议通过了《关 于回购公司股份方案的议案》。公司拟使用自有资金及银行回购专项贷款以集中 竞价交易方式回购公司股份（以下简称"本次回购"），用于实施员工持股计划 或股权激励计划。本次回购股份的种类为公司已发行的人民币普通股（A 股）。 本次回购的资金总额不低于人民币 5,000 万元（含）且不超过人民币 10,000 万元 （含），回购价格不超过人民币 28.00 元/股（含）。具体回购股份的数量和金额 以回购期满时实际回购的股份数量和金额为准。本次回购期限为自公司董事会审 议通过回购股份方案之日起不超过 12 个月。具体内容详见公司于 2025 年 2 月 11 日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于回购公司股份方 ...

广发证券股份有限公司 | 6.募集资金使用与已披露情况是否一致，项目进度、投资效 | √ | | --- | --- | | 益是否与招股说明书等相符 | | | 7.募集资金项目实施过程中是否不存在重大风险 | √ | | （六）业绩情况 | | | 现场检查手段：1、查阅公司财务报表及相关信息披露文件；2、查阅同行业公司披露 | | | 信息，核查公司业绩与行业情况是否匹配。 | | | √ 1.业绩是否存在大幅波动的情况 | | | 2.业绩大幅波动是否存在合理解释 √ | | | 3.与同行业可比公司比较，公司业绩是否不存在明显异常 | √ | | （七）公司及股东承诺履行情况 | | | 现场检查手段：1、查阅公司及股东出具的相关承诺以及履行情况；2、取得公司关于 | | | 公司及股东承诺履行情况的说明函。 | | | 1.公司是否完全履行了相关承诺 | √ | | 2.公司股东是否完全履行了相关承诺 | √ | | （八）其他重要事项 | | | 现场检查手段：1、查阅公司现金分红相关制度、定期报告和相关临时公告；2、查阅 | | | 公司重大合同、大额资金支付记录原始凭证及相关审批文件；3、对 ...

| 保荐机构：广发证券股份有限公司 | 培训对象：致欧家居科技股份有限公司 | | --- | --- | | 保荐代表人姓名：肖东东 | 联系电话：020-66338888 | | 保荐代表人姓名：谭旭 | 联系电话：020-66338888 | 培训实施人员姓名：肖东东 参加培训人员：致欧科技控股股东、实际控制人和全体董事、高级管理人员及部 分中层以上管理人员 培训时间：2025 年 12 月 29 日 培训对应期间：2025 年度 广发证券股份有限公司关于致欧家居科技股份有限公司 2025 年度持续督导培训工作报告 交流，保证了本次培训的顺利开展。 三、培训效果 通过讲解相关法律法规，介绍相关案例，致欧科技上述人员对上市公司最新 监管规定、政策以及上市公司在公司治理、募集资金使用等方面的规范运作要 求有了更系统、全面的认识，有助于致欧科技进一步提高信息披露质量和规范运 作水平。本次培训达到预期效果。 培训主要内容：解读近期监管新规、政策及上市公司监管案例，并强调公 司治理规范、募集资金使用规范等 一、培训基本情况 广发证券股份有限公司（以下简称"广发证券"或"保荐机构"）作为致欧 家居科技股份有限公司（ ...

致欧科技 20260112 洲科技是一家怎样的公司？其主要业务和市场布局如何？ 洲科技是一家主要从事跨境电商业务的公司，重点市场在欧洲和美国。具体来 说，公司 60%的收入来自欧洲，30%多的收入来自美国，其余部分则来自其 他地区。洲科技在欧洲建立了完善的运营和品牌体系，而在美国，由于 2025 年的关税影响，公司正在逐步修复产能和采购环节，预计 2025 年四季度将出 现经营拐点。 洲科技未来的发展潜力如何？ 洲科技未来的发展潜力主要体现在三个方面。首先，公司定位为线上宜家，具 备广阔的品类拓展空间，这将成为其核心增长点。其次，跨境电商行业竞争激 烈，但随着国内税收规范化及反避税政策出台，中长期来看行业格局有望优化， 洲科技通过加快新产品推出以及提高美国和东南亚产能覆盖度，2025 年第四季度经营拐点显现。成熟运营体系和良好仓储物流支持公司不断 拓展新的品类。 公司新增股权激励方案，设定 2026 年和 2027 年的收入及利润考核目 标，2025 年增速考核目标为 25%以上，内部激励机制将积极推动公司 达成预期业绩。 有利于公司的发展。此外，公司估值处于底部位置，是一个不错的投资机会。 摘要 洲科技定位 ...

Core Viewpoint - The company, Zhiyou Technology, has shown a positive market performance with a 2.63% increase in stock price, reaching a market capitalization of 7.683 billion yuan, driven by its focus on pet products and cross-border e-commerce [1]. Group 1: Business Overview - Zhiyou Technology specializes in the research, design, and sales of home products, with a primary revenue source from cross-border e-commerce retail, accounting for 99.09% of total revenue [7]. - The company has established a differentiated competitive advantage in its logistics system for cross-border e-commerce, with self-operated warehouses in countries like Germany and the USA, enhancing operational efficiency and customer satisfaction [2][3]. - The company's product offerings include a range of pet furniture and home products, as well as outdoor and leisure items, indicating a diverse product portfolio [2]. Group 2: Financial Performance - For the period from January to September 2025, Zhiyou Technology reported a revenue of 6.082 billion yuan, reflecting a year-on-year growth of 6.18%, while the net profit attributable to shareholders decreased by 2.09% to 272 million yuan [8]. - As of September 30, 2025, the company had a total of 10,500 shareholders, with a decrease of 7.59% from the previous period, and an increase in average circulating shares per person by 8.21% [8]. Group 3: Market Trends and Innovations - The company benefits from the depreciation of the RMB, with overseas revenue accounting for 98.88% of total revenue, highlighting its strong international market presence [3]. - Integration of ChatGPT into the company's internal systems is aimed at enhancing marketing efficiency and customer service, indicating a commitment to leveraging technology for operational improvements [3].

Core Viewpoint - The company, Zhiyou Technology, is experiencing growth in its pet product and cross-border e-commerce segments, benefiting from the depreciation of the RMB and the integration of ChatGPT technology into its operations [2][3]. Group 1: Company Overview - Zhiyou Technology, established on January 8, 2010, is located in Zhengzhou, Henan Province, and was listed on June 21, 2023 [7]. - The company's main business involves the research, design, and sales of proprietary home products, with 99.09% of its revenue coming from cross-border e-commerce retail [7]. - As of September 30, the number of shareholders decreased by 7.59% to 10,500, while the average circulating shares per person increased by 8.21% to 18,473 shares [8]. Group 2: Financial Performance - For the period from January to September 2025, Zhiyou Technology achieved a revenue of 6.082 billion yuan, representing a year-on-year growth of 6.18%, while the net profit attributable to the parent company was 272 million yuan, a decrease of 2.09% year-on-year [8]. - The company has distributed a total of 401 million yuan in dividends since its A-share listing [9]. Group 3: Market Position and Strategy - The company has established a differentiated competitive advantage in its cross-border e-commerce logistics system, with self-operated warehouses in countries like Germany and the USA, enhancing operational efficiency and customer satisfaction [2][3]. - The integration of ChatGPT into the company's internal systems is aimed at improving marketing efficiency and customer service, particularly in multilingual support [3]. Group 4: Stock Performance - On January 9, the stock price of Zhiyou Technology increased by 1.09%, with a trading volume of 60.1163 million yuan and a turnover rate of 1.68%, resulting in a total market capitalization of 7.486 billion yuan [1]. - The average trading cost of the stock is 18.96 yuan, with the current price approaching a resistance level of 18.60 yuan, indicating potential for upward movement if this level is surpassed [6].

(责任编辑：马欣) 致欧科技首次公开发行股票募集资金总额为人民币99,009.90万元，募集资金净额为89,208.04万元。致欧 科技实际募资净额比原拟募资少59,368.51万元。致欧科技于2023年6月16披露的招股说明书显示，该公 司原拟募集资金148,576.55万元，用于研发设计中心建设项目、仓储物流体系扩建项目、郑州总部运营 管理中心建设项目、补充流动资金。 致欧科技首次公开发行股票的发行费用总额为9,801.86万元（不含增值税），其中，保荐承销费用 6,565.35万元。 中国经济网北京1月7日讯 致欧科技(301376.SZ)今日股价下跌，该股收盘报18.01元，跌幅2.28%。 致欧科技于2023年6月21日在深交所创业板上市，公开发行4,015.00万股新股发行价格为24.66元/股，保 荐机构（主承销商）为广发证券，保荐代表人为肖东东、谭旭。 ...

证券代码：301376 证券简称：致欧科技 公告编号：2026-001 致欧家居科技股份有限公司 关于回购公司股份的进展公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 致欧家居科技股份有限公司（以下简称"公司"）于 2025 年 2 月 10 日召开 第二届董事会第十三次会议、第二届监事会第十一次会议审议，审议通过了《关 于回购公司股份方案的议案》。公司拟使用自有资金及银行回购专项贷款以集中 竞价交易方式回购公司股份（以下简称"本次回购"），用于实施员工持股计划 或股权激励计划。本次回购股份的种类为公司已发行的人民币普通股（A 股）。 本次回购的资金总额不低于人民币 5,000 万元（含）且不超过人民币 10,000 万元 （含），回购价格不超过人民币 28.00 元/股（含）。具体回购股份的数量和金额 以回购期满时实际回购的股份数量和金额为准。本次回购期限为自公司董事会审 议通过回购股份方案之日起不超过 12 个月。具体内容详见公司于 2025 年 2 月 11 日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于回购公司股份方案暨取得 ...