2024年1至12月份，致欧科技的营业收入构成为：跨境电商零售占比98.88%，其他业务占比1.12%。 （文章来源：每日经济新闻） 致欧科技（SZ 301376，最新价：18.04元）8月1日晚间发布公告称，截至2025年7月31日，在本次回购 方案中，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约210万股，占公司目前总股本 的0.52%，最高成交价为19元/股，最低成交价为14.82元/股，成交金额约为3494万元。 ...

Group 1 - The company, Zhiyou Technology, announced a share repurchase plan on August 1, stating it will buy back 2,103,500 shares, which represents 0.52% of its total share capital, by July 31, 2025 [1]

格隆汇8月1日丨致欧科技(301376.SZ)公布，截至2025年7月31日，在本次回购方案中，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2,103,500股，占公司目前总股本的0.52%，最高成交价为 19.00元/股，最低成交价为14.82元/股，成交金额为3494.1372万元(不含交易费用)。 ...

证券代码：301376 证券简称：致欧科技 公告编号：2025-050 截至 2025 年 7 月 31 日，在本次回购方案中，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 2,103,500 股，占公司目前总股本的 0.52%，最高 成交价为 19.00 元/股，最低成交价为 14.82 元/股，成交金额为 34,941,372.00 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。 1 二、其他说明 公司回购股份的时间、回购股份数量及集中竞价交易的委托时段、交易价格 等符合《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》及公司回 购股份方案的相关规定，具体说明如下： 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 ...

Core Viewpoint - The company, Zhiyou Technology, has established a competitive advantage in cross-border e-commerce through its differentiated logistics system and is benefiting from trends in the pet economy, influencer marketing, and the depreciation of the RMB. Group 1: Business Operations - The company has built a cross-border e-commerce logistics system with domestic and overseas self-operated warehouses, enhancing operational efficiency and customer satisfaction [2] - Zhiyou Technology's overseas revenue accounts for 98.88%, benefiting from the depreciation of the RMB [3] - The company offers a range of pet products, including furniture and bedding for pets [2][3] Group 2: Financial Performance - For the period from January to March 2025, Zhiyou Technology achieved revenue of 2.09 billion yuan, a year-on-year increase of 13.56%, and a net profit of 111 million yuan, up 10.30% [8] - The company has distributed a total of 321 million yuan in dividends since its A-share listing [9] Group 3: Market Position - Zhiyou Technology's main business revenue composition includes furniture series (51.68%), home series (36.35%), pet series (8.32%), and outdoor sports (2.52%) [7] - The company is categorized under the light industry manufacturing sector, specifically in home products [7] Group 4: Shareholder Information - As of May 9, the number of shareholders for Zhiyou Technology was 8,995, a decrease of 3.46% from the previous period [8] - The average circulating shares per person increased by 3.58% to 21,432 shares [8]

Core Viewpoint - The company, Zhiyou Technology, is experiencing growth in its cross-border e-commerce and pet product segments, benefiting from a depreciating RMB and a diversified logistics system [2][3]. Group 1: Company Overview - Zhiyou Technology was established on January 8, 2010, and went public on June 21, 2023, focusing on the research, design, and sales of proprietary home products [7]. - The company's revenue composition includes furniture series (51.68%), home series (36.35%), pet series (8.32%), outdoor sports (2.52%), and others (1.13%) [7]. - As of May 9, the number of shareholders is 8,995, a decrease of 3.46%, with an average of 21,432 circulating shares per person, an increase of 3.58% [8]. Group 2: Financial Performance - For the first quarter of 2025, Zhiyou Technology achieved a revenue of 2.09 billion, a year-on-year increase of 13.56%, and a net profit attributable to shareholders of 111 million, up 10.30% [8]. - The company has distributed a total of 321 million 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 Germany and the USA, enhancing operational efficiency [2]. - Zhiyou Technology collaborates with influencers based on product usage scenarios and follower demographics, having partnered with influencers on platforms like TikTok, although current sales contributions are minimal [2][3]. - The company’s overseas revenue accounts for 98.88%, benefiting from the depreciation of the RMB [3].

Core Viewpoint - The company, Zhiyou Technology, is experiencing a decline in stock price and trading volume, while also benefiting from various economic trends such as cross-border e-commerce and the pet economy [1][4]. Group 1: Company Overview - Zhiyou Technology was established on January 8, 2010, and went public on June 21, 2023. The company specializes in the research, design, and sales of its own brand home products [7]. - The revenue composition of Zhiyou Technology includes furniture series (51.68%), home series (36.35%), pet series (8.32%), outdoor sports (2.52%), and others (1.13%) [7]. - The company operates in the light industry manufacturing sector, specifically in home goods, and is associated with concepts such as the pet economy and cross-border e-commerce [7]. Group 2: Financial Performance - As of May 9, the number of shareholders in Zhiyou Technology was 8,995, a decrease of 3.46% from the previous period, while the average circulating shares per person increased by 3.58% [8]. - For the period from January to March 2025, Zhiyou Technology achieved a revenue of 2.09 billion yuan, representing a year-on-year growth of 13.56%, and a net profit attributable to shareholders of 111 million yuan, up 10.30% year-on-year [8]. - Since its A-share listing, Zhiyou Technology has distributed a total of 321 million yuan in dividends [8]. Group 3: Market Dynamics - On July 30, Zhiyou Technology's stock price fell by 1.30%, with a trading volume of 64.36 million yuan and a market capitalization of 7.336 billion yuan [1]. - The company has established a differentiated cross-border e-commerce export warehousing logistics system, enhancing operational efficiency and customer satisfaction [2]. - The company has engaged with influencers for marketing, although the current sales contribution from these collaborations is relatively small [2][3]. Group 4: Technical Analysis - The average trading cost of Zhiyou Technology's shares is 19.07 yuan, with the stock price approaching a resistance level of 18.27 yuan, indicating potential for a price correction if this level is not surpassed [6].

Core Viewpoint - The company, Zhiyou Technology, is experiencing growth in its overseas revenue, benefiting from the depreciation of the RMB and its established logistics system for cross-border e-commerce [3][4]. Group 1: Company Overview - Zhiyou Technology was founded on January 8, 2010, and is located in Zhengzhou, Henan Province. It specializes in the research, design, and sales of its own brand home products [7]. - The company's revenue composition includes: furniture series 51.68%, home series 36.35%, pet series 8.32%, outdoor sports 2.52%, and others 1.13% [7]. - As of May 9, the number of shareholders is 8,995, a decrease of 3.46% from the previous period, with an average of 21,432 circulating shares per person, an increase of 3.58% [8]. Group 2: Financial Performance - For the period from January to March 2025, Zhiyou Technology achieved a revenue of 2.091 billion yuan, a year-on-year increase of 13.56%, and a net profit attributable to shareholders of 111 million yuan, up 10.30% year-on-year [8]. - The company has distributed a total of 321 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 Germany and the United States, enhancing operational efficiency and customer satisfaction [2]. - Zhiyou Technology collaborates with influencers based on product usage scenarios and follower demographics, having partnered with influencers on platforms like TikTok to drive sales [2][3]. Group 4: Technical Analysis - The average trading cost of the stock is 19.09 yuan, with recent accumulation activity noted, although the strength of this accumulation is weak. The current stock price is near a resistance level of 18.62 yuan, indicating potential for a price correction if this level is not surpassed [6].

Investment Rating - The report provides a positive outlook on various sectors, indicating a stable recovery in the home furnishing and paper packaging sectors, while new tobacco and packaging sectors show robust growth [3][4]. Core Insights - The home furnishing sector is expected to see marginal improvement in domestic demand due to government support for consumption upgrades, with a focus on companies with high dividend yields and growth certainty for 2025 [5][10]. - The new tobacco sector is experiencing growth, particularly in heated tobacco products (HTP), with significant sales increases reported in Europe and a growing user base for IQOS [11]. - The paper packaging sector is facing a gradual recovery in pulp prices, with a focus on companies that maintain strong market positions and high dividends [12]. - The light consumer goods and pet food sectors are under pressure, but there are opportunities in innovative product launches and channel expansion [15]. - The two-wheeler sector is poised for a rebound with government subsidies and new standards expected to drive demand [16][17]. Summary by Sections Home Furnishing - Domestic sales are expected to improve due to government initiatives, with a focus on companies with strong growth prospects and high dividends [5][10]. - Export figures show a slight increase in June, but a cumulative decline for the first half of the year [10]. New Tobacco - HNB sales increased by 10.5% year-on-year, with a growing user base for IQOS [11]. - The regulatory environment in the U.S. is tightening, which may benefit compliant market players [11]. Paper Packaging - Pulp prices have shown slight increases, but overall market conditions remain challenging [12]. - Companies with strong market positions and dividend policies are recommended for investment [12]. Light Consumer Goods & Pet Food - The sector is facing challenges, but there are opportunities in new product launches and expanding distribution channels [15]. - Online sales data indicates mixed performance across different product categories [23]. Two-Wheeler - The sector is expected to benefit from government subsidies and new regulations, with a focus on companies that can leverage these changes for growth [16][17]. - Recent data shows a significant number of electric bikes being replaced under the subsidy program [26][27].

Investment Rating - The report emphasizes a focus on companies with high earnings growth certainty and relatively high dividend support in the domestic market [4][9]. Core Insights - The home furnishing sector shows a year-on-year increase of 28.7% in furniture retail sales in June, but demand has weakened since July due to the lack of new government subsidies [4][9]. - The new tobacco sector is witnessing a recovery, with Smoore's H1 2025 revenue expected to grow by 18% year-on-year, indicating stabilization in the vaping business [15][16]. - The paper and packaging industry is experiencing price stabilization, with expectations for a recovery in demand for white cardboard and cultural paper [17][18]. - The light industry and personal care sector is facing a downturn, but there are investment opportunities in leading brands [19][20]. - The toy sector, particularly Bubble Mart, is highlighted for its strong performance, with a 94% year-on-year increase in online sales of blind boxes in Q2 [21][22]. - The two-wheeler market is expected to see a rebound in Q3, driven by new policies in Vietnam promoting electric vehicle replacements [22][31]. Summary by Sections Home Furnishing Sector - Retail sales of furniture increased by 28.7% year-on-year in June, but demand has weakened since July due to subsidy issues [4][9]. - The overall real estate investment decreased by 10.3% year-on-year in June, with residential construction area down by 4.3% [4][9]. New Tobacco Sector - Smoore's H1 2025 revenue is projected to grow by 18% year-on-year, indicating a recovery in the vaping market [15][16]. - The FDA's recent approvals for JUUL products suggest a positive trend in the U.S. compliance market [15][16]. Paper and Packaging Sector - Paper prices are stabilizing, with expectations for recovery in demand for specific paper types [17][18]. - The packaging sector is seeing improvements in profitability for metal packaging companies due to industry consolidation [17][18]. Light Industry and Personal Care - The sector is experiencing a downturn, but leading brands are still seen as investment opportunities [19][20]. - Online sales for personal care products have shown mixed results, with some categories facing increased competition [20][23]. Toy Sector - Bubble Mart is highlighted for its strong performance, with a 209% year-on-year increase in GMV [21][22]. - The overall toy market is benefiting from new operational models and IP advantages [21][22]. Two-Wheeler Market - The market is expected to rebound in Q3, with new policies in Vietnam promoting electric vehicle replacements [22][31]. - Leading companies in the sector are expected to show good growth in their mid-year reports [22][31].