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 年度内部控制自我评价报告的核查意见 广发证券股份有限公司（以下简称"广发证券"或"保荐人"）作为致欧 家居科技股份有限公司（以下简称"致欧科技"或"公司"）首次公开发行股 票并在创业板上市的保荐人及持续督导机构，根据《证券发行上市保荐业务管 理办法》《深圳证券交易所创业板股票上市规则》及《深圳证券交易所上市公 司自律监管指引第 2 号——创业板上市公司规范运作》等相关法律法规和规范 性文件的要求，广发证券对致欧科技 2024 年度内部控制自我评价报告进行了核 查，并发表核查意见如下： 一、保荐人的核查工作 保荐人查阅了公司股东大会、董事会、监事会等会议记录，2024 年度内部 控制自我评价报告以及各项业务和管理规章制度，并结合与公司相关人士的访 谈情况，从内部控制的治理环境、内部控制的制度建立、内部控制的执行情况 等方面，对公司内部控制的完整性、有效性、合理性以及《致欧家居科技股份 有限公司关于内部控制的自我评价报告》的真实性、客观性进行了核查。 二、董事会声明 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价 其有效性，并如实披露 ...

2024年度 致欧家居科技股份有限公司 目录 致欧家居科技股份有限公司 非经营性资金占用及其他关联资金往来情况 的专项说明 | | 页次 | | --- | --- | | 非经营性资金占用及其他关联资金往来情况的专项说明 | 1 - 2 | | 致欧家居科技股份有限公司2024年度非经营性资金占用及 | | | 其他关联资金往来情况汇总表 | 3 - 4 | 非经营性资金占用及其他关联资金往来情况的专项说明 安永华明（2025）专字第70036210_R03号 致欧家居科技股份有限公司 致欧家居科技股份有限公司董事会： 我们审计了致欧家居科技股份有限公司的2024年度财务报表，包括2024年12月31 日的合并及公司资产负债表，2024年度的合并及公司利润表、股东权益变动表和现金流 量表以及相关财务报表附注，并于2025年4月27日出具了编号为安永华明（2025）审字 第70036210_R01号的无保留意见审计报告。 按照《上市公司监管指引第8号——上市公司资金往来、对外担保的监管要求》、 《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》及相关格式指南 的要求，致欧家居科技股份有限公司编制了 ...

致欧家居科技股份有限公司 已审财务报表 2024年度 致欧家居科技股份有限公司 目 录 | | 页 | | 次 | | --- | --- | --- | --- | | 审计报告 | 1 | - | 7 | | 已审财务报表 | | | | | 合并资产负债表 | 8 | - | 9 | | 合并利润表 | 10 | - | 11 | | 合并股东权益变动表 | 12 | - | 13 | | 合并现金流量表 | 14 | - | 15 | | 公司资产负债表 | 16 | - | 17 | | 公司利润表 | | 18 | | | 公司股东权益变动表 | 19 | - | 20 | | 公司现金流量表 | 21 | - | 22 | | 财务报表附注 | 23 | - | 118 | | 财务报表补充资料 | | | | | 1.2024年度非经常性损益明细表 | | 1 | | | 2.净资产收益率和每股收益 | | 2 | | 审计报告 安永华明（2025）审字第70036210_R01号 致欧家居科技股份有限公司 致欧家居科技股份有限公司全体股东： 一、审计意见 我们审计了致欧家居科技股份有限公司的 ...

北京市中伦律师事务所 关于致欧家居科技股份有限公司 2024 年限制性股票 激励计划首次授予部分第一个归属期归属条件成就、 授予价格调整及部分已授予尚未归属的限制性股票 作废事项的 法律意见书 二〇二五年四月 北京市中伦律师事务所 关于致欧家居科技股份有限公司 2024 年限制性股票激励计划首 次授予部分第一个归属期归属条件成就、授予价格调整及部分已 授予尚未归属的限制性股票作废事项的 法律意见书 致：致欧家居科技股份有限公司 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国 证券法》（以下简称"《证券法》"）、《中华人民共和国律师法》、中国证券监督管 理委员会发布的《上市公司股权激励管理办法》（以下简称"《股权激励管理办 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"《自 律监管指南第 1 号》"）等相关法律、法规、规章、规范性文件及《致欧家居科技 股份有限公司章程》（以下简称"《公司章程》"）、《致欧家居科技股份有限公司 2024 年限制性股票激励计划（草案）》（以下简称"《 ...

Financial Performance - The company reported a total revenue of 1.2 billion RMB for the fiscal year 2024, representing a year-over-year increase of 15% compared to 2023[16]. - The company's operating revenue for 2024 reached ¥8,123,835,098.24, representing a 33.74% increase compared to ¥6,074,187,229.49 in 2023[21]. - In 2024, the company achieved total revenue of 8.124 billion yuan, a year-on-year increase of 33.74%, while net profit was 334 million yuan, a decrease of 19.21%[52]. - The net profit attributable to shareholders decreased by 19.21% to ¥333,573,745.07 in 2024 from ¥412,883,749.90 in 2023[21]. - The basic earnings per share for 2024 was ¥0.83, down 23.15% from ¥1.08 in 2023[21]. - Revenue from other B2C third-party platforms reached 903 million yuan, a year-on-year growth of 99.7%, with significant contributions from the TEMU platform[54]. - The company reported a significant increase in sales from other regions, with a growth rate of 68.77% to ¥57,101,250.42[90]. - The company achieved a gross margin of 34.74% in the cross-border e-commerce retail sector, a decrease of 1.75% compared to the previous year[92]. User Growth and Market Expansion - User data indicates a growth in active users to 5 million, up from 4 million in the previous year, marking a 25% increase[16]. - The company has entered over 70 countries and regions, serving more than 20 million global households[47]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2025[16]. - The company plans to expand its presence in the European market, focusing on new product development and channel expansion to drive growth[136]. - The company is focusing on expanding its market presence in emerging markets such as Australia, Canada, and Mexico, while also exploring opportunities in Korea, Latin America, and the Middle East[138]. Product Development and Innovation - New product launches contributed to 30% of total sales, with the introduction of three innovative furniture lines[16]. - The company plans to expand its product offerings into larger furniture categories, responding to increasing online search volumes for items like beds and sofas[33]. - The company is focusing on enhancing product competitiveness through the development of new furniture designs and expanding its product matrix[104]. - The company is actively pursuing innovation in the TV cabinet category to improve market share and operational efficiency[104]. - The company launched a new product series featuring tool-less installation technology, significantly enhancing user experience and reducing packaging waste[61]. Research and Development - Research and development expenses increased by 12% to 150 million RMB, focusing on sustainable materials and smart home technology[16]. - R&D investment increased by 28.65% to 77.29 million yuan, resulting in 424 new global patent authorizations, including 383 design patents[61]. - The number of R&D personnel increased by 16.03% to 304, with a notable rise in the number of master's degree holders by 25.00%[105]. - The company is enhancing its R&D and product design capabilities to maintain its competitive edge in the furniture and home goods market[145]. Supply Chain and Logistics - The company is adapting to a "China + N" supply chain model to mitigate risks associated with global trade uncertainties[37]. - The company optimized logistics by establishing five new front warehouses in France, Spain, and Italy, reducing average shipping costs by 0.7 to 2.4 USD per package and improving delivery times by 1-2 days[52]. - The company has established a global mixed warehousing network, with self-operated warehouse area reaching 334,900 square meters by the end of 2024, covering key markets in Europe and North America[66]. - The logistics costs for foreign trade enterprises have surged due to global supply chain disruptions, impacting operational stability[39]. Financial Management and Investments - Cash dividends of 2 RMB per 10 shares will be distributed to shareholders, based on a total of 399,953,500 shares[7]. - The company raised a total of RMB 990,099,000 through the issuance of 40,150,000 shares at a price of RMB 24.66 per share[124]. - The net amount raised after deducting issuance costs was RMB 892,080,354.46, which was verified by PwC[124]. - The company has committed to several investment projects, including a research and design center with a total investment of RMB 31,802.26 million, of which RMB 2,916.76 million has been utilized, representing 17.14% of the total[128]. Risk Management - The company faces potential risks related to supply chain disruptions and inflationary pressures, with strategies in place to mitigate these risks[7]. - The company is actively monitoring foreign exchange risks and engaging in hedging activities to mitigate potential losses from currency fluctuations[142]. - The company is addressing geopolitical and trade friction risks by diversifying its supply chain and focusing on emerging markets[143]. Corporate Governance - The company emphasizes transparent information disclosure, adhering to legal requirements and ensuring fair access to information for all shareholders[158][159]. - The company maintains independence from its controlling shareholders, ensuring no interference in operational decisions and no provision of guarantees to them[153][160]. - The board of directors consists of 9 members, including 3 independent directors, and held 9 meetings to discuss various topics including financial reports and fund usage[154][155]. Employee Management - The total number of employees at the end of the reporting period is 1,662, with 1,350 in the parent company and 312 in major subsidiaries[193]. - The company has established a comprehensive employee training system to support business innovation and strategic goals, focusing on management and professional skills development[196]. - The company has a competitive salary system based on a three-dimensional evaluation system, aiming to drive rapid business growth and strategic implementation[195].

Financial Performance - The company's revenue for Q1 2025 reached ¥2,091,255,102.87, representing a 13.56% increase compared to ¥1,841,609,961.04 in the same period last year[5] - Net profit attributable to shareholders was ¥110,895,216.95, up 10.30% from ¥100,538,681.31 year-on-year[5] - The basic earnings per share rose to ¥0.28, reflecting a 12.00% increase from ¥0.25 in the same quarter last year[5] - Total operating revenue for the current period reached ¥2,091,255,102.87, an increase of 13.6% compared to ¥1,841,609,961.04 in the previous period[20] - Net profit for the current period was ¥110,895,216.95, reflecting a growth of 10.3% from ¥100,538,681.31 in the previous period[20] Cash Flow - The net cash flow from operating activities increased by 56.56% to ¥686,274,537.80, compared to ¥438,359,012.44 in the previous year[12] - Total cash inflow from operating activities reached ¥1.99 billion, compared to ¥1.80 billion in the previous period, marking an increase of 10.5%[23] - Cash inflow from operating activities included ¥1.83 billion from sales, an increase from ¥1.67 billion, representing a growth of 9.7%[23] - The company’s cash flow from operating activities showed an increase, with cash received from tax refunds rising to ¥132,876,259.85 from ¥111,723,511.66 in the previous period[22] - Net cash flow from investing activities improved by 72.36%, with a net outflow of ¥35,728,800.53 compared to a larger outflow of ¥129,285,415.76 in the previous year[12] Assets and Liabilities - Total assets at the end of the reporting period were ¥6,462,096,110.02, a 3.03% increase from ¥6,271,767,256.53 at the end of the previous year[5] - Total liabilities increased to ¥3,114,728,387.37, up from ¥3,044,634,146.33, representing a growth of 2.3%[19] - The company’s total equity increased to ¥3,347,367,722.65 from ¥3,227,133,110.20, reflecting a growth of 3.7%[19] Shareholder Information - The total number of common shareholders at the end of the reporting period is 9,317[13] - The largest shareholder, Song Chuan, holds 50.13% of the shares, totaling 201,268,169 shares[13] - The company has not disclosed any changes in the participation of major shareholders in margin financing and securities lending[14] - There are no preferred shareholders or changes in restricted shares reported[14] - The company has not identified any related party relationships among shareholders beyond those disclosed[13] Expenses - Management expenses increased by 34.77% to ¥91,383,976.17, mainly due to higher compensation and share-based payment expenses[11] - Research and development expenses for the current period were ¥17,233,976.78, slightly down from ¥17,380,398.43 in the previous period[20] - Cash outflow for employee payments rose to ¥156.25 million from ¥131.00 million, an increase of 19.3%[23] Share Repurchase and Fundraising - The company plans to repurchase shares with a total amount not less than RMB 50 million and not exceeding RMB 100 million, with a maximum repurchase price of RMB 28.00 per share[14] - The estimated number of shares to be repurchased ranges from 178,570 shares (0.44% of total shares) to 357,140 shares (0.89% of total shares) based on the repurchase price[14] - The company is establishing an industrial fund with a target fundraising scale of RMB 1 billion, with an initial fundraising of RMB 652 million[15] - The company will contribute RMB 10 million to the industrial fund, representing 1.534% of the initial fundraising amount[15] - The repurchase period for the shares is set for up to 12 months from the board's approval date[14] Financial Gains and Losses - The company experienced a 204.09% decrease in financial expenses, resulting in a gain of ¥26,588,361.00, attributed to significant foreign exchange gains[11] - The impact of exchange rate changes on cash and cash equivalents was positive at ¥11.41 million, compared to a negative impact of -¥0.36 million in the previous period[23]

Core Viewpoint - The article discusses the urgent need for Chinese global enterprises to adapt their supply chains in response to the tightening of U.S. customs regulations and tariffs, emphasizing the importance of relocating supply chains to Southeast Asia and diversifying markets beyond the U.S. [3][4][10] Group 1: Supply Chain Adaptation - The new U.S. customs regulations require strict documentation for goods imported from third countries, particularly targeting Vietnam and Mexico, which will significantly impact supply chain strategies for Chinese companies [3][4][10]. - Companies like Anker Innovations and Zhiou Technology have already begun relocating 20-30% of their supply chains to Southeast Asia, demonstrating a proactive approach to mitigate tariff impacts [6][11]. - The "Tech-Trade" investment model, which focuses on technology leadership, manufacturing control, and trade flexibility, is being adopted to navigate the challenges posed by tariffs and supply chain decoupling [5][12]. Group 2: Pricing Strategies - Anker Innovations has raised prices by approximately 18% for several products sold on Amazon, while Zhiou Technology has increased prices by nearly 30%, indicating a shift in pricing strategies to maintain margins despite rising costs [12][10]. - Companies must enhance product performance and value to justify price increases, as traditional cost advantages are becoming less viable [12][10]. Group 3: Market Expansion - There is a strong emphasis on expanding into non-U.S. markets, particularly Europe, which presents significant opportunities despite its complexities [18][19]. - The establishment of overseas warehouses is crucial for companies transitioning from "export" to "overseas operations," allowing for better inventory management and local market responsiveness [19][20]. Group 4: Product Development - Companies are encouraged to develop products that cater specifically to overseas markets rather than relying on products that are universally applicable, as this reduces the risk of being replaced by competitors [20][21]. - The focus should be on creating high-margin products that can withstand tariff pressures while maintaining consumer demand [21][20]. Group 5: Investment Strategy - The article advocates for a long-term investment strategy in globalization, emphasizing that manufacturing will not return to the West and that global market opportunities remain robust [22][21]. - Investors should focus on creating value through strategic partnerships and long-term planning rather than short-term gains, positioning themselves as "capital farmers" rather than "capital hunters" [29][30].

《意见》提到，支持金融赋能职业体育、冰雪经济发展。围绕足球、篮球、排球、乒乓球、羽毛球等职 业体育俱乐部建设和发展需求，健全职业体育俱乐部多元化投融资体系，为职业体育俱乐部设施改造升 级和配套服务提供金融支持。 《意见》还提出，鼓励设立体育发展专项资金，对符合条件的企业、社会组织给予项目补助、贴息和奖 励，促进降低融资成本。鼓励民间和境外资本投资体育产业，兴建体育设施，在依法合规、风险可控的 前提下，推广和运用政府与社会资本合作模式，推动体育产业发展。 华鑫证券研报指出，关注内需消费刺激政策利好，更多细分赛道有望取得亮眼增长。预计将会有更多内 需消费刺激政策将会出台，国内宏观消费情况有望稳步改善。同时，伴随着健康意识与运动习惯一步步 深入大众生活中，国内运动鞋服渗透率有望加速提升，国产运动品牌销量有望实现亮眼增长。 机构称，伴随着健康意识与运动习惯一步步深入大众生活中，国内运动鞋服渗透率有望加速提升，国产 运动品牌销量有望实现亮眼增长。 4月14日，体育板块涨幅居前，足球概念、体育产业、冰雪产业等领涨。截至发稿，康力源、金陵体育 20%涨停，探路者大涨12%，三柏硕、天府文旅、英派斯等多股涨超9%。 | 代码 ...