Summary of Conference Call Company/Industry Involved - The conference call pertains to the Western Cutting industry, specifically focusing on a deep report analysis [1] Core Points and Arguments - The call is part of the 162nd session of a series dedicated to in-depth analysis of the Western Cutting sector [1] - All participants were noted to be in a state of rest prior to the commencement of the call, indicating a structured approach to the meeting [1] Other Important but Possibly Overlooked Content - The call began with a welcome message, suggesting a formal and organized setting for the discussion [1] - The host was prepared to start speaking immediately after the registration announcement, indicating a focus on efficiency in the meeting's proceedings [1]

证券代码：301376 证券简称：致欧科技 公告编号：2024-034 致欧家居科技股份有限公司 3、公司于 2023 年 6 月 21 日在深圳证券交易所创业板上市，本次解除限售的 股份上市流通日期为 2024 年 6 月 28 日（星期五）。 一、首次公开发行前已发行股份及战略配售股份概况 经中国证券监督管理委员会《关于同意致欧家居科技股份有限公司首次公开 发行股票注册的批复》（证监许可〔2023〕850 号）同意注册，并经深圳证券交易 所审核同意，公司首次公开发行人民币普通股（A 股）股票 40,150,000 股，并于 2023 年 6 月 21 日在深圳证券交易所创业板上市。首次公开发行前公司总股本为 361,350,000 股,首次公开发行股票后公司总股本为 401,500,000 股。 2023 年 12 月 21 日，公司首次公开发行网下配售限售股上市流通，股份数量 为 2,215,810 股，占公司总股本的 0.55%。具体情况详见公司于 2023 年 12 月 19 1 本次申请解除股份限售的股东中，服贸基金申请解除限售的首次公开发行前已发行股份为 1,350,000 股，申 请解除限售的 ...

广发证券股份有限公司 关于致欧家居科技股份有限公司 部分首次公开发行前已发行股份及 首次公开发行战略配售股份上市流通的核查意见 根据《证券发行上市保荐业务管理办法》《深圳证券交易所上市公司自律监 管指引第13号——保荐业务》《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》《深圳证券交易所创业板股票上市规则》等有关规定， 广发证券股份有限公司（以下简称"广发证券"、"保荐人"）对致欧家居科技 股份有限公司（以下简称"致欧科技"、"公司"）部分首次公开发行前已发行 股份及首次公开发行战略配售股份上市流通事项进行了核查，具体情况如下： 一、首次公开发行前已发行股份及战略配售股份概况 经中国证券监督管理委员会《关于同意致欧家居科技股份有限公司首次公开 发行股票注册的批复》（证监许可〔2023〕850号）同意注册，并经深圳证券交 易所审核同意，公司首次公开发行人民币普通股（A股）股票40,150,000股，并 于2023年6月21日在深圳证券交易所创业板上市。首次公开发行前公司总股本为 361,350,000股，首次公开发行股票后公司总股本为401,500,000股。 2023年12月21日，公 ...

Investment Rating - The report maintains a "Buy" rating for the company with a target price not specified [7][14][34]. Core Insights - The company has been expanding its self-operated overseas warehouse space, adding approximately 123,000 square meters in 2024, which strengthens its local fulfillment advantages in Europe [4][6]. - The company has established a significant presence in the European market, with over 200,000 square meters of self-operated warehouses in Germany, allowing it to leverage competitive pricing in the last-mile delivery segment [4][6]. - The online home goods consumption is growing significantly faster than offline channels, indicating a shift in consumer behavior towards e-commerce [5][9]. - The company focuses on product innovation to meet customer needs, enhancing product value through research and development, and optimizing its supply chain for efficiency and cost-effectiveness [6][17]. - The company aims to unify its brand under "SONGMICS HOME" to improve traffic conversion and efficiency, emphasizing three core values: design, cost-effectiveness, and convenience [7][17]. Financial Summary - The company’s revenue is projected to grow from 6,074.19 million yuan in 2023 to 11,922.69 million yuan by 2026, reflecting a compound annual growth rate (CAGR) of approximately 25.36% [32]. - The net profit attributable to the parent company is expected to increase from 412.88 million yuan in 2023 to 734.87 million yuan in 2026, with corresponding P/E ratios decreasing from 20.45 to 11.49 [32][34]. - The company’s gross margin is projected to improve, indicating better cost management and pricing strategies [22][33].

证券代码：301376 证券简称：致欧科技 公告编号：2024-031 在上述预计担保总额度范围内，股东大会授权公司管理层办理相关担保手续， 具体每笔担保的担保期限和方式以担保方和金融机构签订的相关担保协议为准。 1 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（以下简称"领未科技"）、致欧国际有限公司（以下 简称"致欧国际"）、深圳致欧家居科技有限公司（以下简称"深 ...

致欧家居科技股份有限公司（以下简称"公司"）2023 年年度权益分派方案已 获 2024 年 5 月 9 日召开的 2023 年年度股东大会审议通过，股东大会决议公告刊 登于创业板指定信息披露网站（http://www.cninfo.com.cn）。现将权益分派事宜公 告如下： 一、股东大会审议通过权益分派方案情况 1、公司 2023 年年度股东大会审议通过《关于公司 2023 年度利润分配预案的 议案》，分配方案为：截至目前的总股本 401,500,000 股为基数，向全体股东每 10 股派发现金红利 5 元（含税），合计派发现金股利人民币 200,750,000.00 元，不送 红股，不以资本公积金转增股本。公司剩余未分配利润结转以后年度分配。 证券代码：301376 证券简称：致欧科技 公告编号：2024-030 致欧家居科技股份有限公司 2023 年年度权益分派实施公告 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。 2、自权益分派方案披露至实施期间公司股本总额未发生变化。 3、本次实施的权益分派方案与股东大会审议通过的权益分派方案一致。 4、本次实施 ...

2023 年年度股东大会的法律意见书 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 157 号 关于致欧家居科技股份有限公司 致：致欧家居科技股份有限公司 HENAN CHAIN-WIN LAW FIRM 河南仟问律师事务所 经核查，上述会议公告的公告日期符合《公司法》《股东大会规则》和《公 司章程》的规定。 地址：郑州市郑东新区平安大道 189 号正商环湖国际 12F 电话（Tel）：037165953550 传真（Fax）：037165953502 网址（Web site）:http://www.shineway.org.cn 地址：郑州市郑东新区平安大道 189 号正商环湖国际 12F 电话（Tel）：037165953550 传真（Fax）：037165953502 网址（Web site）:http://www.shineway.org.cn 一、关于本次股东大会的召集和召 ...

2、本次股东大会不涉及变更以往股东大会已通过的决议。 证券代码：301376 证券简称：致欧科技 公告编号：2024-029 致欧家居科技股份有限公司 2023 年年度股东大会决议公告 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。 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 5 月 9 日（星期四）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 5 月 9 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 5 月 9 日 9:15-15:00 的任意时间。 2、会议召开地点：郑州市二七区嵩山南路 198-19 号东方大厦 6 楼公司会议室 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 5、会议主持 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 30.75 RMB based on the current market price of 24.84 RMB [3][14]. Core Insights - The company reported a revenue of 1.84 billion RMB for Q1 2024, representing a year-on-year increase of 45.3%, and a net profit attributable to shareholders of 100 million RMB, up 15.1% year-on-year [15]. - The European market is expected to continue its rapid recovery, with Q1 2024 revenue growth potentially exceeding 40%, while the US market is projected to grow over 35% [15]. - The company is focusing on enhancing its brand strategy by unifying its brands under "SONGMICS HOME" and aims to expand its product categories while maintaining a value-driven design philosophy [15]. - The report anticipates that the company's earnings per share (EPS) will be 1.25 RMB, 1.50 RMB, and 1.81 RMB for 2024, 2025, and 2026 respectively, with corresponding price-to-earnings (PE) ratios of 21, 17, and 14 [15]. Summary by Sections Company Overview - The company is projected to achieve revenues of 6.07 billion RMB in 2023, 7.52 billion RMB in 2024, and 9.24 billion RMB in 2025, with growth rates of 11.34%, 23.86%, and 22.87% respectively [21]. - The net profit attributable to shareholders is expected to rise from 250 million RMB in 2022 to 500 million RMB in 2024, reflecting a growth rate of 65.08% [21]. Financial Performance - The gross margin for Q1 2024 was reported at 36.0%, a decrease of 0.8 percentage points year-on-year, primarily due to increased shipping costs [15]. - The report highlights a strategic focus on operational efficiency through digitalization and supply chain optimization to enhance profitability [15]. Market Positioning - The company is strategically increasing its presence in the US market and is expected to implement a "full-channel" approach to improve operational efficiency [15]. - The report emphasizes the company's clear strategic direction and operational enhancements aimed at ensuring future growth and performance [15].

Investment Rating - The report assigns an "OUTPERFORM" rating to the company with a target price of RMB 29.46 [6][27][36] Core Insights - The company reported a revenue of RMB 6.07 billion for 2023, representing a year-on-year growth of 11.34%, and a net profit attributable to shareholders of RMB 413 million, up 65.08% year-on-year [15][27] - In Q4 2023, the company achieved a revenue of RMB 1.94 billion, a 44.98% increase year-on-year, and a net profit of RMB 126 million, up 60.59% year-on-year [15][27] - For Q1 2024, revenue reached RMB 1.84 billion, growing 45.30% year-on-year, with a net profit of RMB 101 million, up 15.06% year-on-year [15][27] Summary by Sections Revenue Breakdown - The furniture series generated RMB 2.71 billion in revenue, up 4.79% year-on-year; the home furnishing series saw revenue of RMB 2.29 billion, up 22.31% year-on-year; the pet series grew rapidly to RMB 519 million, up 37.30% year-on-year; while the outdoor series revenue was RMB 466 million, down 12.26% year-on-year [26][35] - The company has a strong product matrix and new product development capabilities, which are expected to drive future performance growth [26][35] Financial Forecast - The forecast for net profit for 2024-2026 is RMB 493 million, RMB 574 million, and RMB 670 million, reflecting year-on-year growth rates of 19.4%, 16.6%, and 16.6% respectively [27][36] - The current closing price corresponds to a PE ratio of 19 and 16 times for 2024-2025, with a valuation of 24 times PE for 2024 [27][36] Market Position - The company is positioned as a leading cross-border e-commerce enterprise in home furnishing and furniture, with a target price based on a 24 times PE valuation for 2024 [27][36]