证券代码：301376 证券简称：致欧科技 编号：2024-001 致欧家居科技股份有限公司 投资者关系活动记录表 ☑特定对象调研 □分析师会议 投资者关系活动 □媒体采访 □业绩说明会 类别 □新闻发布会 □路演活动 □现场参观 □其他（请文字说明其他活动内容） 2024 年3月1日 海富通基金 姚玭；融通基金 苏林洁；鹏华基金 谢添元；中 欧基金 陈欣宜、宋星琦；交银施罗德基金 杨浩、张晨；博时 基金 徐鹤元、李佳；广发基金 邹勇；广发证券 曹倩雯；民 生证券 杜嘉欣；长江证券 米雁翔、秦意昂。 2024 年3月4日 参与单位名称及 华西基金 徐语晨、张月宁；国联基金 陈方圆；南方基金 尤 人员姓名 丹倩；东方阿尔法 孙振波；富荣基金 张芷潇；万家基金 王 晨曦；博时基金 许炯东；长江证券 李锦、秦意昂、应奇航。 2024 年3月5日 ...

河南仟问律师事务所关于致欧家居科技股份有限公司 2024 年第一次临时股东大会的法律意见书 河南仟问律师事务所 HENAN CHAIN-WIN LAW FIRM 郑州市郑东新区平安大道189号正商环湖国际12F 电话（Tel）: 0371-65953550 传真(Fax): 0371-65953502 网址：http://www.shineway.org.cn 电子邮件：E-mail:qwlss@126.com 仟见字[2024]第 077 号 关于致欧家居科技股份有限公司 2024 年第一次临时股东大会的法律意见书 致：致欧家居科技股份有限公司 河南仟问律师事务所（以下简称"本所"）接受致欧家居科技股份有限公司 （以下简称"公司"）的委托，委派本所律师出席公司 2024 年第一次临时股东大 会（以下简称"本次股东大会"），就本次股东大会的召集和召开程序，出席本 次股东大会人员的资格，审议事项及其表决程序等相关事宜出具法律意见。 为出具本法律意见书，本所律师审查了公司提供的有关本次股东大会的文 件、材料。公司保证向本所提供的文件和材料是完整、真实和有效的，且一切 足以影响本法律意见书的事实、文件和材料均已向本 ...

证券代码：301376 证券简称：致欧科技 公告编号：2024-012 致欧家居科技股份有限公司 2024 年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会未出现否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、会议召开的时间： （1）现场会议：2024 年 3 月 1 日（星期五）14：30 时； （2）网络投票时间： ①通过深圳证券交易所交易系统进行网络投票的时间为：2024 年 3 月 1 日的 交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00； ①通过深圳证券交易所互联网系统（http://wltp.cninfo.com.cn）投票的具体时间 为：2024 年 3 月 1 日 9:15-15:00 的任意时间。 2、会议召开地点：深圳市龙华区民治街道北站社区鸿荣源北站中心 A 塔 3901 公司会议室 3、会议召开方式：本次会议采用现场表决与网络投票相结合的方式召开 4、会议召集人：公司董事会 ...

证券代码：301376 证券简称：致欧科技 公告编号：2024-011 致欧家居科技股份有限公司 关于 2024 年限制性股票激励计划内幕信息知情人及激励对象 买卖公司股票情况的自查报告 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（以下简称为"公司"）于 2024 年 2 月 8 日召开 第二届董事会第四次会议和第二届监事会第三次会议，审议通过了《关于公司 <2024 年限制性股票激励计划(草案)>及其摘要的议案》，具体内容详见公司 2024 年 2 月 9 日披露于巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 根据《上市公司股权激励管理办法》《深圳证券交易所创业板上市公司自律监 管指南第 1 号——业务办理》等相关法律法规的规定，公司对本激励计划内幕信 息知情人及激励对象在草案公告前 6 个月内（2023 年 8月 7 日至 2024 年 2 月8 日， 以下简称"自查期间"）买卖公司股票的情况进行了自查，具体情况如下： 一、核查的范围与程序 1、核查对象为本激励计划的内幕信息知情人及激励对象。 2 ...

Investment Rating - The report initiates coverage with a "Buy" rating for Ziel Home Furnishing Technology, indicating an expected stock price increase of over 15% relative to the market in the next six months [4][41]. Core Insights - Ziel is positioned as a leading cross-border e-commerce platform in the home furnishing sector, primarily targeting developed markets in Europe and America. The company has established three major brands: SONGMICS, VASAGLE, and FEANDREA, which account for significant portions of its revenue [5][14]. - The cross-border e-commerce market is experiencing robust growth, with China's export scale reaching RMB 6.6 trillion in 2022 and a projected CAGR of 16.4% from 2022 to 2025. This trend is expected to favor domestic consumer goods brands leveraging supply chain advantages [5][14]. - Ziel's competitive advantages include brand recognition, a well-established overseas logistics system, and strong supply chain management capabilities. The company has over 300,000 square meters of self-owned overseas warehouses, enhancing its logistics efficiency [5][13][32]. Financial Forecasts - Revenue projections for Ziel are as follows: RMB 6,110 million in 2023, RMB 7,385 million in 2024, and RMB 8,653 million in 2025, reflecting year-on-year growth rates of 12%, 21%, and 17% respectively [4][8]. - Net profit is expected to reach RMB 408 million in 2023, RMB 511 million in 2024, and RMB 607 million in 2025, with growth rates of 63%, 25%, and 19% respectively [4][8]. - The earnings per share (EPS) forecast is RMB 1.02 for 2023, RMB 1.27 for 2024, and RMB 1.51 for 2025, with a decreasing price-to-earnings (P/E) ratio from 22.81 in 2023 to 15.41 in 2025 [4][8]. Market Position and Strategy - Ziel's products are primarily sold through online platforms like Amazon, with significant revenue contributions from Europe and the United States, accounting for 56% and 41% of total revenue in 2022 [5][14]. - The company focuses on high-margin segments of the market, emphasizing brand, design, and supply chain management, which are critical barriers to entry in the home furnishing e-commerce space [24][25]. - Ziel's logistics capabilities, including a self-built overseas logistics system, provide a competitive edge by reducing costs and improving delivery times compared to traditional fulfillment methods [5][13][32].

证券代码：301376 证券简称：致欧科技 公告编号：2024-010 致欧家居科技股份有限公司 监事会关于 2024 年限制性股票激励计划 首次授予激励对象名单的公示情况说明及核查意见 本公司及监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 2024 年 2 月 8 日召开第 二届董事会第四次会议和第二届监事会第三次会议，审议通过了《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》等相关议案，具体内容详见公 司 2024 年 2 月 9 日披露于巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 根据《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》（以下简称"《上市规则》"）《深圳证券交易所创业板上 市公司自律监管指南第 1 号——业务办理》（以下简称"《监管指南第 1 号》"）等 相关法律法规的规定，公司对 2024 年限制性股票激励计划（以下简称"本次激励 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，公司监事会结合 ...

110 115 120 125 130 135 140 145 150 2018 年1月 2018 年4月 2018 年7月 2018 年10 月 2019 年1月 2019 年4月 2019 年7月 2019 年10 月 2020 年1月 2020 年4月 2020 年7月 2020 年10 月 2021 年1月 2021 年4月 2021 年7月 2021 年10 月 2022 年1月 2022 年4月 2022 年7月 2022 年10 月 2023 年1月 2023 年4月 家居价格指数 图 19：2018-2023 年 4 月美国城市平均家居及床上用品价格指数 图 20：2018-2023H1 欧盟家居、家用设备及维护 HICP 通胀率 0% 2% 4% 6% 8% 10% 12% 2018 年1月 2018 年4月 2018 年7月 2018 年10 月 2019 年1月 2019 年4月 2019 年7月 2019 年10 月 2020 年1月 2020 年4月 2020 年7月 2020 年10 月 2021 年1月 2021 年4月 2021 年7月 2021 年10 月 2022 年1月 ...

Investment Rating - The report assigns a positive investment rating to the company, indicating strong growth potential in the cross-border e-commerce home goods sector [46][67]. Core Insights - The company is positioned as a leading player in the cross-border e-commerce home goods market, leveraging a one-stop online shopping platform to enhance customer experience and drive sales [82]. - The financial analysis highlights robust profitability and improving cash flow, with a net cash ratio reaching 3.72 in Q1-Q3 2023, reflecting effective inventory management and operational efficiency [3]. - Revenue projections for 2023-2025 are optimistic, with expected revenues of 21.3 billion, 26.8 billion, and 33.1 billion yuan, representing year-on-year growth rates of 14.0%, 25.6%, and 23.6% respectively [47][67]. Financial Performance - The company reported revenues of 5.967 billion yuan in 2021, which decreased to 5.455 billion yuan in 2022, but is projected to recover to 6.056 billion yuan in 2023, with a growth rate of 11.0% [50]. - Net profit is expected to increase significantly from 410 million yuan in 2023 to 619 million yuan in 2025, with a compound annual growth rate (CAGR) of 23.4% [50]. - The company's earnings per share (EPS) is projected to rise from 1.02 yuan in 2023 to 1.54 yuan in 2025, indicating strong profitability growth [50]. Market Trends - The global e-commerce market is experiencing steady growth, with the cross-border e-commerce sector expected to reach 10.4 trillion yuan by 2025, driven by increasing demand and reduced global transaction costs [11]. - The report notes that the U.S. remains the largest overseas market for e-commerce, with significant growth opportunities in Europe and Asia [7][13]. Operational Efficiency - The company has optimized its supply chain and logistics, establishing a global network of 280,000 square meters of self-operated warehouses, which enhances delivery efficiency and reduces costs [60]. - The implementation of a digital management system has improved order processing speed and inventory turnover, significantly enhancing operational efficiency [59]. Product Development - The company is focusing on product innovation, with a notable increase in the number of self-developed products, which rose from 582 in 2020 to 535 in 2022 [62]. - The emphasis on modular design and packaging has led to reduced logistics costs and improved customer satisfaction, as evidenced by high product ratings on platforms like Amazon [41][63].

Investment Rating - The investment rating for the company is "Buy" (maintained) [2][9]. Core Views - The report emphasizes that the company, as a leading player in the home cross-border e-commerce sector, is well-positioned for growth due to increasing global e-commerce penetration and supportive domestic foreign trade policies. The company has made proactive arrangements in channels, products, and supply chains, indicating strong growth momentum. The profit forecasts for 2023-2025 are maintained, with expected net profits of 410 million, 512 million, and 631 million yuan respectively, corresponding to EPS of 1.02, 1.28, and 1.57 yuan, with current PE ratios of 22.1, 17.7, and 14.3 times [9][10]. Financial Performance Summary - The company expects to achieve operating revenue of 60.2-61.0 billion yuan in 2023, representing a year-on-year increase of 10.35%-11.82%. For Q4 2023, the anticipated revenue is 18.8-19.6 billion yuan, reflecting a growth of 40.9%-46.9% year-on-year, driven by successful product launches [11]. - The company has set ambitious targets for its stock incentive plan, aiming for a compound annual growth rate (CAGR) of 20-25% in operating revenue from 2024 to 2026, with specific growth targets of no less than 25%/56.25%/95.31% for the respective years [10]. - The financial projections indicate a steady increase in operating revenue from 60.99 billion yuan in 2023 to 73.31 billion yuan in 2024 and 88.93 billion yuan in 2025, with corresponding net profits increasing from 410 million yuan in 2023 to 512 million yuan in 2024 and 631 million yuan in 2025 [13][15]. Strategic Outlook - The company is focusing on a dual-driven strategy of product and channel expansion, with plans to enhance market share through product innovation and advertising. It aims to tap into emerging markets, particularly in developing countries, to drive revenue growth [11]. - The report highlights the company's efforts to optimize its supply chain and reduce costs, which are expected to improve efficiency and profitability in the medium to long term [11].

Investment Rating - The report maintains a "Buy" rating for the company with a current price of 22.27 CNY [1] Core Insights - The company has released a draft for an equity incentive plan, reflecting confidence in business expansion. The plan aims to grant incentives to up to 47 individuals, including directors and key personnel, with a total of 4.015 million shares, representing 1% of the company's total share capital [7] - Revenue growth targets for 2024-2026 are set at 20%-25%, indicating strong expectations for future performance [7] - The company is actively expanding into new markets and channels, particularly in the U.S., where revenue growth is expected to outpace that of Europe [7] - The company is focusing on product updates and new launches to drive sales, enhancing user appeal through unified design and functionality [7] - Profitability is expected to remain stable despite uncertainties related to shipping costs and exchange rates, with measures in place to mitigate these impacts [7] - The company is projected to achieve net profits of 414 million CNY in 2023, 511 million CNY in 2024, and 624 million CNY in 2025, with corresponding PE ratios of 22X, 18X, and 14X [7] Financial Summary - The company's revenue is forecasted to grow from 5,455 million CNY in 2022 to 8,927 million CNY by 2025, with a compound annual growth rate (CAGR) of approximately 20% [4][6] - The net profit attributable to shareholders is expected to increase from 250 million CNY in 2022 to 624 million CNY in 2025, reflecting a strong growth trajectory [4][6] - The company's gross margin is projected to improve slightly, with a gross margin of 33.82% in 2024 and 33.83% in 2025 [9] - The company's total assets are expected to grow from 3,478 million CNY in 2022 to 5,867 million CNY in 2025, indicating robust asset growth [17]