证券代码：301376 证券简称：致欧科技 公告编号：2025-017 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 ...

Investment Rating - The report maintains an "Overweight" rating for the consumer discretionary sector [7] Core Insights - The escalation of tariffs is reshaping global supply chains, leading to a structural impact on China's exports, while domestic demand is expected to benefit [1][11] - Companies with high domestic sales ratios are positioned to capitalize on the emerging opportunities in the local market as domestic brands continue to rise [1] Summary by Sections Home Appliances - Major home appliance companies like Haier are leveraging localization and production in Mexico to mitigate tariff impacts, thereby strengthening their market share in the U.S. [2][15] - The black appliance sector is seeing a shift towards Mexican production to buffer supply chain pressures, with companies like Hisense and TCL benefiting from cost control [2][16] Cleaning Appliances - The U.S. market remains highly dependent on Chinese manufacturing for cleaning appliances, with significant price increases expected due to high tariffs on imports from China and Vietnam [3][20] - Chinese companies are rapidly iterating products to gain market share in the U.S., with brands like Roborock surpassing local competitors in revenue [25][26] Light Industry and Home Furnishings - Southeast Asian production is likely to face challenges due to increased tariffs, but Chinese companies are actively seeking to adapt by expanding export regions and enhancing price transmission capabilities [4][29] - The reliance on the U.S. market for home furnishings has decreased, with exports expected to recover post-tariff adjustments [30][31] Cross-Border E-commerce - The supply chain disruptions are evident, but the competitive landscape may improve as smaller sellers face greater pressure due to the cancellation of the $800 tax exemption policy [5][39] - Major players are expected to benefit from market share consolidation as smaller competitors exit the market [40][41]

Investment Rating - The report provides a positive investment outlook for various sectors, particularly recommending companies in the home furnishing, new tobacco, light consumer goods, and paper packaging industries [5][23][24][26]. Core Insights - The home furnishing sector is expected to stabilize with the introduction of consumer subsidies, leading to improved order intake for many companies [5][19]. - New tobacco products, particularly from Smoore International, are anticipated to benefit from market expansion despite tariff challenges [23]. - The paper packaging industry is facing high pulp inventory levels, which may slow down profit recovery, but consolidation efforts are expected to improve competition [24]. - The light consumer goods sector, especially in pet products, is likely to see accelerated domestic brand growth due to increased tariffs on imports [26]. Summary by Sections Home Furnishing Sector - Domestic sales are improving as consumer subsidies are rolled out, with expectations for further stimulus policies [5][19]. - Companies like Gujia Home and Sophia are highlighted for their strong market positions and growth potential [5][19]. - Export challenges due to increased tariffs are noted, but companies with strong domestic sales channels are expected to perform well [5][19]. New Tobacco - Smoore International is positioned to adapt to tariff impacts due to its production capabilities in Indonesia [23]. - The electronic cigarette market is expected to maintain consumer demand despite potential price increases from tariffs [23]. - The overall market for compliant brands is projected to expand, providing growth opportunities [23]. Paper Packaging - High pulp inventory levels are suppressing price increases, with a slow recovery in profitability expected [24][25]. - The acquisition of Zhongliang Packaging by Aorijin is expected to enhance competitive dynamics in the industry [24]. - The introduction of new consumer electronics subsidies is anticipated to benefit leading packaging companies [24]. Light Consumer Goods - The pet food market is expected to see a shift towards domestic brands as tariffs on imports increase [26]. - Companies like Guibao Pet are positioned to capture market share due to their competitive pricing and product quality [26]. - The AI glasses segment is highlighted for its growth potential, with recommendations to focus on key supply chain players [26].

证券代码：301376 证券简称：致欧科技 公告编号：2025-016 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 ...

证券代码：301376 证券简称：致欧科技 公告编号：2025-015 致欧家居科技股份有限公司 关于首次回购公司股份的公告 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）。按照回购资金总额下限人民 币 5,000 万元、回购价格上限人民币 28.00 元/股进行测算，预计回购股份数量为 178.57 万股，占公司当前总股本的 0.44%；按照回购资金总额上限人民币 10,000 万元、回购价格上限人民币 28.00 元/股进行测算，预计回购股份数量 ...

将投中网设为"星标⭐"，第一时间收获最新推送 捕捉LP圈一周商业情报。 作者丨王满华 来源丨投中网 如今都说募资难，特别是募市场化LP的钱更是难于上青天。 除了工行的消息外，据投中网不完全统计，本周LP圈共有16条动态，推荐关注中国人寿发起设立的 鸿鹄基金二期、湖南建投集团发起的30亿元产业母基金、紫金港资本海宁海愿基金，以及30亿规模 的江苏省节能环保战新产业基金。 新基金 工商银行启动800亿元科技创新基金 2025年3月12日，中国工商银行与全国工商联在北京联合举办"金融助企 提质向新"金融赋能民营企业 高质量发展推进会，会议现场举办了工商银行科技创新基金启动仪式。该基金总规模800亿元，定位 耐心资本，以股为主，股债贷保联动，将持续加大对硬科技、民营经济的支持，为实体经济注入股权 投资力量。 首只险资私募证券基金已投资落地500亿元，获批设立二期基金 为了解决这一难题，近一年来，鼓励市场化资金参与股权投资的政策频出，特别是如何有序引导银行 加大对科技创新和创业投资的支持力度，一直是有关部门的工作重点。 2024年9月，金融监管总局发布《关于扩大金融资产投资公司股权投资试点范围的通知》，给银行系 资金入 ...

致欧家居科技股份有限公司 关于公司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。 一、基本情况 致欧家居科技股份有限公司（以下简称"公司"）为投资孵化上下游优质项目， 提升公司核心竞争力，推动公司战略愿景实现，公司作为有限合伙人使用自有资 金与普通合伙人兼执行事务合伙人苏州维特力新创业投资管理有限公司及其他有 限合伙人共同投资设立长沙泉仲创业投资合伙企业（有限合伙）（暂定名，具体 以市场监督管理部门核准登记的名称为准，以下简称"基金"或"合伙企业"）。具体 内容详见公司于 2025 年 1 月 6 日披露于巨潮资讯网（www.cninfo.com.cn）的《关 于公司参与设立产业基金的公告》（公告编号：2025-001）。 证券代码：301376 证券简称：致欧科技 公告编号：2025-014 1 | 2 | 有限合伙人 | 长沙市产业投资基金合伙企业（有限合 | 14,500 | 22.239% | | --- | --- | --- | --- | --- | | | | 伙） | | | | 3 | 有限合伙人 | 长沙天心新 ...

1 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 金融机构股票回购专项贷款承诺函的公告》（公告编号：2025-007）、2025 年 2 月 19 日在巨潮资讯网（www.cninfo.com.cn）上披露的《致欧家居科技股份有限公 司回购报告书》（公告编号：2025- ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [5][17]. Core Views - The company demonstrates confidence in its operations through a share buyback plan, which is aimed at implementing employee stock ownership and incentive plans, with a total buyback amount between 50 million to 100 million yuan, at a price not exceeding 28 yuan per share [1]. - The company is expanding its product categories, focusing on home products, furniture, pet products, and outdoor sports, with significant year-on-year growth rates of 50.2%, 39.4%, 37.3%, and 3.4% respectively for the first half of 2024 [2]. - The company is enhancing its supply chain capabilities, with a shift towards Southeast Asia for procurement to mitigate tariff impacts, and an expected improvement in gross margins due to the completion of its U.S. warehouse layout [3]. - The financial forecast has been adjusted, with expected net profits for 2024-2026 projected at 390.25 million, 568.28 million, and 727.11 million yuan respectively, reflecting a recovery in profitability [4]. Financial Data Summary - Revenue for 2022 was 5,455.39 million yuan, with a projected increase to 8,061.16 million yuan in 2024, representing a growth rate of 32.71% [10][11]. - The company's net profit for 2022 was 250.11 million yuan, with an expected decline to 390.25 million yuan in 2024, followed by a recovery to 568.28 million yuan in 2025 [10][11]. - The company's earnings per share (EPS) is projected to be 0.97 yuan in 2024, increasing to 1.42 yuan in 2025 [10][11].

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the report indicates a positive outlook on the company's growth potential and confidence in its future development [1]. Core Insights - The company has announced a share repurchase plan, demonstrating confidence in its future prospects and internal value recognition, which is expected to motivate core team members and stimulate growth [1]. - The company is projected to experience robust revenue growth in 2024, driven by stable performance in the European market and accelerated contributions from the U.S. market, alongside expansion into emerging markets [2]. - Profitability may face slight pressure in 2024 due to increased shipping costs, but the company is expected to benefit from a global supply chain restructuring and a decrease in shipping prices in 2025 [2]. - Sales growth is anticipated to remain steady in Q1 2025, with significant potential for growth due to the company's focus on brand development and supply chain expansion [3]. Financial Summary - Total revenue is projected to grow from 6,074 million in 2023 to 10,131 million in 2025, reflecting a year-on-year growth rate of 26.3% [6]. - The net profit attributable to the parent company is expected to increase from 413 million in 2023 to 631 million in 2025, with a year-on-year growth rate of 62.1% [6]. - The gross profit margin is forecasted to stabilize around 36.1% from 2025 onwards, while the return on equity (ROE) is expected to improve to 15.6% in 2025 [6]. - Earnings per share (EPS) is projected to rise from 1.03 in 2023 to 1.57 in 2025, indicating a positive trend in profitability [6].