证券代码：301376 证券简称：致欧科技 公告编号：2024-058 致欧家居科技股份有限公司 关于控股股东完成非交易过户的公告 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。 一、本次股份变动基本情况 致欧家居科技股份有限公司（以下简称"公司"）控股股东、实际控制人宋川先 生原一致行动人张秀荣女士因病去世，双方的一致行动关系解除。张秀荣女士生 前直接持有 3,307,747 股公司首发前限售股，占公司总股本的 0.82%。根据《中华 人民共和国民法典》、《中华人民共和国继承法》的相关规定以及河南省郑州市 黄河公证处出具的(2024) 豫郑黄证内民字第 15906 号公证书，上述股份由公司控 股股东、实际控制人宋川先生继承。具体内容详见公司于 2024 年 10 月 31 日披露 于巨潮资讯网（http://www.cninfo.com.cn）的《关于控股股东解除一致行动关系暨 权益变动的提示性公告》（公告编号：2024-055）。 二、股份完成过户登记情况 根据中国证券登记结算有限责任公司出具的《证券过户登记确认书》，张秀 荣女士生前持有的 3,307,7 ...

证券代码：301376 证券简称：致欧科技 公告编号：2024-057 致欧家居科技股份有限公司 关于为全资子公司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、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 2024 年 2 月 8 日，致欧家居科技股份有限公司（以下简称"公司"）召开第二 届董事会第四次会议、第二届监事会第三次会议分别审议通过了《关于 2024 年度 为全资子公司提供担保额度预计的议案》，第二届董事会独立董事专门会议 2024 年第一次会议就该事项发表了同意的审核意见。2024 年 3 月 1 日，公司召开 2024 年第一次临时股东大会，表决通过《关于 2024 年度为全资子公司提供担保额度预 计的议案》。为满足全资子公司业务发展需要，同意公司在 2024 年度为全资子公 司郑州领未网络科技有限公司（简称"领未科技"）、致欧国际有限公司（简称"致 欧国际"）、深圳致欧家居科技有限公司（简称"深圳致欧"）、EUZIEL International GmbH（简称"EUZIEL"）、AMEZIEL INC（简称"AMEZIEL"）向银行及其他金融 机构 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target PE of 19x for 2024 and 14x for 2025 [8][7] Core Views - The company achieved revenue of 5.728 billion yuan in the first three quarters of 2024, a year-on-year increase of 38%, while net profit attributable to the parent company was 278 million yuan, a year-on-year decrease of 3% [1][4] - In Q3 2024, revenue reached 2.007 billion yuan, up 34% year-on-year, with net profit attributable to the parent company at 106 million yuan, up 5% year-on-year [1][4] - The company's growth is driven by strong performance in the US market and rapid expansion on new platforms like Temu [1][4] - The company is focused on optimizing pricing strategies, improving cost efficiency, and expanding its product lines, particularly in the SONGMICS HOME brand [6][7] Financial Performance - Q3 2024 gross margin decreased by 2.3 percentage points year-on-year due to high shipping costs, but improved by 1.6 percentage points quarter-on-quarter due to optimized pricing strategies [5] - Sales/management/R&D/financial expense ratios in Q3 2024 changed by +1.7/+0.1/-0.1/-2.3 percentage points year-on-year, with increased sales expenses due to higher marketing investments [5] - The company expects to achieve net profit attributable to the parent company of 390 million yuan in 2024 and 550 million yuan in 2025 [7] Strategic Initiatives - The company is focusing on product series development, with the launch of the EKHO Collection covering multiple home scenarios [6] - Efforts are being made to reduce costs and improve efficiency, including standardizing production processes and increasing procurement from Southeast Asia, with a target of 20% of US shipments from the region [6] - The company is optimizing its warehousing and distribution layout, with increased FBM (Fulfillment by Merchant) share in the US market [6] - Expansion in the US market is a key focus, with emphasis on Amazon Vendor channels and top-listing products [6] Market and Growth Outlook - The company is positioned as a pioneer in cross-border home furnishing, leveraging China's manufacturing advantages to build an "online IKEA" [1][7] - Growth drivers include market share expansion, category diversification, channel expansion (Temu, OTTO, Shein, TikTok, and offline KA channels), and regional expansion [7] - The company's profitability is expected to improve as shipping costs normalize and self-fulfillment ratios increase [7]

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Insights - The company reported a significant revenue growth of 38.49% year-on-year for the first three quarters of 2024, achieving a total revenue of 5.728 billion yuan. However, the net profit attributable to the parent company decreased by 3.11% year-on-year to 278 million yuan [5][7] - The company is expected to recover its profit margins in the future, despite facing short-term pressure due to increased shipping costs, which have risen by 57% year-on-year as indicated by the Baltic Dry Index [6][7] - The company is projected to achieve net profits of 390 million yuan, 494 million yuan, and 591 million yuan for the years 2024, 2025, and 2026, respectively, with a forecasted decline of 5.5% in 2024 followed by growth in subsequent years [7][11] Financial Performance Summary - For Q3 2024, the company achieved a revenue of 2.007 billion yuan, representing a year-on-year increase of 34.49%, while the net profit attributable to the parent company was 106 million yuan, up 5.44% year-on-year [5] - The company's gross profit margin for the first three quarters of 2024 was 35.10%, a decrease of 1.76 percentage points year-on-year, and the net profit margin was 4.85%, down 2.08 percentage points year-on-year [6][11] - The company’s total revenue is expected to reach 8.053 billion yuan in 2024, with a year-on-year growth of 32.6% [8][9] Valuation and Comparison - The current closing price corresponds to a price-to-earnings (P/E) ratio of 20 and 16 times for 2024 and 2025, respectively. The estimated fair value range for the company is between 22.36 and 23.33 yuan based on a P/E ratio of 23 to 24 times for 2024 [7][10] - The company is compared with peers in the cross-border e-commerce sector, with an average P/E ratio of 20.1 for similar companies [10]

广发证券股份有限公司关于致欧家居科技股份有限公司 2024 年度持续督导培训情况报告 | 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 | | 保荐机构培训人员姓名：肖东东 | | | 培训对象参加培训人员：致欧科技控股股东、实际控制人和全体董事、监事、高 | | | 级管理人员及部分中层以上管理人员 | | 二、培训内容简介 致欧科技控股股东、实际控制人和全体董事、监事、高级管理人员及部分中 层以上管理人员通过现场和线上的方式参加了本次持续督导培训。培训过程中， 广发证券培训人员结合法规和案例重点讲解了募集资金规范、信息披露规范、 1 董监高履职规范及交易规范等方面的规定及监管情况。在此期间，致欧科技接 受培训人员认真听讲，并积极提问、交流，保证了本次培训的顺利开展。 三、培训效果 培训时间：2024 年 10 月 23 日 培训对应期间：2024 年度 培训主要内容：解读近期监管新规及政策，强调募集资金督导规定、 ...

证券代码：301376 证券简称：致欧科技 公告编号：2024-056 致欧家居科技股份有限公司 关于参与设立产业基金的进展公告 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"）积极响应国家政策，为推 动贸易高质量发展，挖掘产业链上下游的优质项目，提高公司主营业务板块盈 利能力和可持续发展能力，拓宽公司产业布局和战略视野，公司作为有限合伙 人与普通合伙人兼执行事务合伙人招商局资本管理（北京）有限公司及其他有 限合伙人共同投资设立海南招服贸易新业态股权投资基金合伙企业（有限合 伙）（以下简称"海南招服贸易基金"）。公司以自有资金认缴出资额人民币 3,000 万元，占目前海南招服贸易基金认缴出资总额的 15.00%。具体内容详见公司于 2023 年 11 月 24 日和 2024 年 9 月 12 日披露于巨潮资讯网 （www.cninfo.com.cn）的相关公告。 一、基本情况概述 二、本次进展情况 （四）托管人名称：招商银行股份有限公司 1 （五）备案日期：2024 年 11 月 3 日 公司将持续关注海南招服贸易 ...

Company and Industry Summary Company Overview - The conference call was held for a technology company, referred to as "Smart Technology," to discuss its third-quarter performance and future outlook [1][2]. Key Financial Data - **Q3 Revenue**: Approximately 5.7 billion RMB, a year-on-year increase of 38% [2]. - **Q3 Profit**: Approximately 1 billion RMB, showing significant improvement compared to the previous quarter [2]. - **Q3 Revenue Breakdown**: - Revenue for Q3 was around 2 billion RMB, with a year-on-year growth of 34% [2]. - The average selling price (ASP) increased from 276 RMB in Q2 to 293 RMB in Q3, reflecting a 3.3% increase [3]. - **Full Year Revenue Target**: The company is on track to meet its full-year revenue target of 25% growth [2]. Market Performance - **Regional Performance**: - North America: Q3 revenue was approximately 800 million RMB, with an average growth rate of nearly 50%, outperforming the company's overall average growth [4]. - Europe: Q3 revenue was around 1.2 billion RMB, with a slight slowdown in growth due to price adjustments [4]. - **Product Categories**: - Home and furniture categories showed strong growth, with home products growing over 40% year-on-year and furniture products growing around 32% [5]. Strategic Initiatives - **Pricing Strategy**: The company plans to maintain pricing levels similar to Q3 while managing inventory to avoid stockouts, particularly in Europe [12]. - **Sales Channels**: The company is focusing on expanding its sales channels, particularly through Amazon and new platforms like Timo, which has shown rapid growth [28][36]. - **Cost Management**: The company has implemented cost control measures, reducing marketing expenses to around 3.8% of revenue in Q3 [7]. Challenges and Risks - **Cost Pressures**: The company anticipates continued pressure from shipping costs, particularly in Q4, which is traditionally a peak season [9][35]. - **Market Dynamics**: The U.S. market is experiencing slower growth compared to Europe, with increased competition and pricing pressures affecting profitability [24][26]. Future Outlook - **2024 Projections**: The company is optimistic about achieving its revenue targets for 2024, supported by internal restructuring and improved supply chain management [10]. - **Market Expansion**: Plans to increase market share in both the U.S. and European markets, with a focus on enhancing product offerings and expanding into new sales channels [26][28]. Management Changes - Recent management changes have been made to improve operational efficiency, particularly in supply chain and sales coordination [16][17]. Conclusion - Overall, Smart Technology has demonstrated strong financial performance in Q3, with a positive outlook for future growth despite facing challenges related to cost pressures and market competition. The company is strategically positioning itself to leverage new sales channels and optimize its product offerings to sustain growth.

证券代码：301376 证券简称：致欧科技 公告编号：2024-055 致欧家居科技股份有限公司 关于控股股东解除一致行动关系暨权益变动的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 一、本次权益变动原因 本次权益变动完成后，宋川先生将直接持有 201,268,169 股公司首发前限售股， 占公司总股本的 50.13%。 截至本公告披露之日，本次权益变动的过户手续尚未办理完成，相关股份变 动数据以过户完成后中国证券登记结算有限责任公司出具的过户证明材料为准， 公司将就此事项持续履行信息披露义务。 四、其他情况说明 本次权益变动，不会导致公司控股股东及实际控制人发生变更，不会影响公 司的治理结构和持续经营，亦不会对公司日常经营活动产生不利影响。 1 致欧家居科技股份有限公司（以下简称"公司"）于近日收到控股股东、实际控 制人宋川先生的通知，其一致行动人张秀荣女士因病去世，张秀荣女士生前直接 持有 3,307,747 股公司首发前限售股，占公司总股本的 0.82%。根据《中华人民共 和国民法典》、《中华人民共和国继承法》的相关规定以及河南省郑州市黄河 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% relative to the CSI 300 index within the next six months [1][4][16]. Core Insights - The company has demonstrated strong revenue growth, with a year-on-year increase of 38.49% in the first three quarters of 2024, driven by enhanced marketing efforts and an increase in the sales proportion of new and emerging products [1][4]. - Despite a slight decline in net profit by 3.11% year-on-year to 278 million yuan, the decrease in profit margin has narrowed compared to previous periods, indicating an improvement in performance [1][4]. - The company has actively increased product prices to mitigate the impact of rising shipping costs and exchange rate fluctuations, which has positively affected gross margin levels [1][4]. Financial Performance Summary - For the first three quarters of 2024, the company achieved operating revenue of 5.728 billion yuan, with a net profit attributable to shareholders of 278 million yuan [1][4]. - The gross margin for the first three quarters was reported at 35.10%, a decrease of 1.76 percentage points year-on-year, but an improvement from the mid-year report [1][4]. - The company plans to distribute a cash dividend of 1 yuan per share, totaling 40.15 million yuan, reflecting confidence in future profitability [3][4]. Future Outlook - The company is expected to continue increasing its investment in new product launches to support future revenue growth and expand into new platforms and offline markets [4]. - Projections for net profit are 409 million yuan for 2024, 542 million yuan for 2025, and 726 million yuan for 2026, with corresponding earnings per share (EPS) of 1.02 yuan, 1.35 yuan, and 1.81 yuan respectively [4][11].

Investment Rating - The investment rating for the company is "Hold" [1]. Core Insights - The company has achieved a revenue of 5.73 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 38.5%. The net profit attributable to shareholders is 280 million yuan, down 3.1% year-on-year, while the net profit after deducting non-recurring items is 260 million yuan, down 17.4% year-on-year. In Q3 alone, the company generated revenue of 2.01 billion yuan, up 34.5% year-on-year, with a net profit of 110 million yuan, an increase of 5.4% year-on-year [1][2]. Summary by Sections Revenue and Profitability - The company has adopted a market share enhancement strategy, leading to successful new product launches and increased contributions from European and American channels. The overall gross margin for the first three quarters is 35.1%, down 1.8 percentage points year-on-year, and the net profit margin is 4.9%, down 2.1 percentage points year-on-year. The total expense ratio is 29.8%, up 2 percentage points year-on-year [2][3]. Strategic Initiatives - The company plans to improve profitability in the second half of the year through several initiatives, including real-time monitoring of product sales conversion and market share, enhancing the proportion of self-dispatch from U.S. warehouses, increasing the shift of the supply chain to Southeast Asia, and negotiating lower shipping costs through long-term contracts [2][3]. Financial Forecast - The company is expected to achieve EPS of 1.02 yuan, 1.30 yuan, and 1.53 yuan for the years 2024, 2025, and 2026, respectively, with corresponding PE ratios of 20x, 15x, and 13x. The company’s product cost-performance ratio is outstanding, and there is ample room for market share growth, leading to a maintained "Hold" rating [3][4]. Market Performance - The company’s stock has shown relative performance against the market, with a current price of 20.01 yuan and a market capitalization of 8.034 billion yuan. The stock price has fluctuated between 16.36 yuan and 29.6 yuan over the past 52 weeks [5][6].