Group 1 - The core point of the news is that Saiwei Times experienced a decline of 5.08% in stock price, closing at 23.75 yuan per share, with a trading volume of 1.57 billion yuan and a turnover rate of 3.32%, resulting in a total market capitalization of 95.82 billion yuan [1] - Saiwei Times Technology Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, established on May 31, 2012, and listed on July 12, 2023. The company's main business involves technology-driven cross-border e-commerce [1] - The revenue composition of Saiwei Times includes 92.32% from cross-border e-commerce, 6.53% from logistics services, and 1.16% from other sources [1] Group 2 - Among the top ten circulating shareholders of Saiwei Times, a fund under China Europe Fund ranks as a new entrant, holding 2.679 million shares, which accounts for 1.37% of the circulating shares. The estimated floating loss today is approximately 3.4023 million yuan [2] - The China Europe Prosperity Selected Mixed A Fund (020876) was established on April 23, 2024, with a latest scale of 1.052 billion yuan. Year-to-date returns are 55.86%, ranking 948 out of 8152 in its category; the one-year return is 60.72%, ranking 666 out of 8038; and since inception, the return is 73.97% [2] Group 3 - The fund manager of China Europe Prosperity Selected Mixed A Fund is Zhang Xueming, who has been in the position for 1 year and 191 days. The total asset scale of the fund is 6.741 billion yuan, with the best fund return during his tenure being 71.31% and the worst being 9.38% [3]

证券代码：301381 证券简称：赛维时代 公告编号：2025-077 | 是否为第一大股东或实 际控制人 | 是□ 否☑ | | | | | --- | --- | --- | --- | --- | | 2.本次权益变动情况 | | | | | | 股份种类（A 股、B 股等） | 减持股数（万股） 减持比例（%） | | | | | 股 A | 100 | | | 0.25 | | 合计 | | 100 | 0.25 | | | | 通过证券交易所的集中交易 ☑ | | | | | 本次权益变动方式 | 通过证券交易所的大宗交易 □ | | | | | | 其他 □（请注明） | | | | | 本次增持股份的资金来 | 自有资金 银行贷款 □ □ | | | | | 源 | 其他金融机构借款 股东投资款 □ | □ | | | | | 其他 不涉及资金来源 □ | | □ | | | 3.本次变动前后，投资者及其一致行动人拥有上市公司权益的股份情况 | | | | | | | 本次变动前持有股份 本次变动后持有股份 | | | | | 股份性质 | 股数(万股) 股数(万股) | 占总股本比例 | 占 ...

证券代码：301381 证券简称：赛维时代 公告编号：2025-076 赛维时代科技股份有限公司 关于签署募集资金监管协议的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、募集资金基本情况 经中国证券监督管理委员会《关于同意赛维时代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〕998 号）同意注册，赛维时代科技股 份有限公司（以下简称"公司"）首次公开发行 4,010.00 万股人民币普通股（A 股），每股面值为 1.00 元，每股发行价格为 20.45 元，募集资金总额为人民币 820,045,000.00 元，扣除发行费用 96,947,169.66 元（含增值税）后，募集资金净 额为 723,097,830.34 元，保荐机构（主承销商）东方证券股份有限公司（曾用名 "东方证券承销保荐有限公司"）于 2023 年 7 月 7 日将扣除保荐承销费（含增 值税）60,150,000.00 元后的募集资金 759,895,000.00 元汇入公司募集资金专项账 户。上述募集资金已于 2023 年 7 月 7 日全部到账并存放于公 ...

Core Insights - The internet e-commerce sector experienced a rise of 1.02% on October 29, with Kuaijingtong leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Kuaijingtong (002640) closed at 5.26, with a gain of 4.99% and a trading volume of 2.78 million shares, amounting to a transaction value of 1.448 billion [1] - Saiwei Times (301381) closed at 25.02, up 4.21%, with a trading volume of 107,600 shares and a transaction value of 266 million [1] - Lianghui Co., Ltd. (300464) closed at 7.26, gaining 3.57%, with a trading volume of 436,300 shares and a transaction value of 312 million [1] - Aoki Technology (301110) closed at 77.30, up 3.07%, with a trading volume of 37,800 shares and a transaction value of 285 million [1] - Guolian Co., Ltd. (603613) closed at 28.46, gaining 2.93%, with a trading volume of 117,700 shares and a transaction value of 332 million [1] Capital Flow - The internet e-commerce sector saw a net inflow of 192 million from institutional investors, while retail investors experienced a net outflow of 107 million [2] - Kuaijingtong had a net inflow of 214 million from institutional investors, with a net outflow of 85.88 million from retail investors [3] - Guolian Co., Ltd. had a net inflow of 27.92 million from institutional investors, with a net outflow of 1.91 million from retail investors [3]

Core Insights - The report from Cinda Securities indicates that Saiwei Times achieved a net profit attributable to shareholders of 210 million yuan in the first three quarters of 2025, representing a year-on-year increase of 7.3% [1] - In Q3 2025, the company reported a net profit of 41 million yuan, showing a significant year-on-year increase of 200.9% [1] - The apparel category continues to grow, while the non-apparel business is expected to see a narrowing of its drag on overall performance [1] Brand Development - The company’s brand zeagoo celebrated its 12th anniversary by announcing a collaboration with renowned global figure Maye Musk, highlighting the brand's commitment to modern women's independence and confidence [1] Operational Performance - Despite short-term profitability pressures in the non-apparel accessories business, inventory levels are showing a positive downward trend, suggesting potential for future improvement [1] - The inventory turnover days for Q1-Q3 2025 were approximately 97.4 days, a decrease of about 6.5 days year-on-year [1] - The company generated a net cash inflow from operating activities of 742 million yuan in Q1-Q3 2025 [1]

Core Points - The stock price of Saiwei Times has increased by 5.08% on October 29, reaching 25.23 CNY per share, with a trading volume of 150 million CNY and a turnover rate of 3.16%, resulting in a total market capitalization of 10.179 billion CNY [1] - Saiwei Times has experienced a continuous rise in stock price for four consecutive days, with a cumulative increase of 6.47% during this period [1] Company Overview - Saiwei Times Technology Co., Ltd. is located in Longgang District, Shenzhen, Guangdong Province, and was established on May 31, 2012, with its listing date on July 12, 2023 [1] - The company's main business involves technology-driven cross-border e-commerce, with revenue composition as follows: 92.32% from cross-border e-commerce, 6.53% from logistics services, and 1.16% from other sources [1] Shareholder Information - Among the top ten circulating shareholders of Saiwei Times, a fund under China Europe Fund, specifically the China Europe Prosperity Selection Mixed A (020876), has newly entered the list in the third quarter, holding 2.679 million shares, accounting for 1.37% of circulating shares [2] - The estimated floating profit for this fund today is approximately 3.2684 million CNY, with a total floating profit of 3.9113 million CNY during the four-day increase [2] - The fund was established on April 23, 2024, with a latest scale of 1.052 billion CNY, and has achieved a year-to-date return of 53.48%, ranking 949 out of 8155 in its category [2]

Core Insights - The stock price of Saiwei Times increased by 2.04% on October 29, reaching 24.50 CNY per share, with a total market capitalization of 9.885 billion CNY [1] - The company has seen a year-to-date stock price increase of 8.84% and a 5-day increase of 8.65% [1] Financial Performance - For the period from January to September 2025, Saiwei Times reported a revenue of 8.188 billion CNY, representing a year-on-year growth of 20.39%, and a net profit attributable to shareholders of 210 million CNY, up 7.34% year-on-year [2] - The company has distributed a total of 421 million CNY in dividends since its A-share listing [2] Shareholder Information - As of October 20, 2025, the number of shareholders for Saiwei Times was 14,700, a decrease of 2.89% from the previous period, while the average circulating shares per person increased by 2.97% to 13,248 shares [2] - Notable institutional shareholders include China Europe Economic Growth Fund, which is the fifth largest shareholder with 2.679 million shares, and Hong Kong Central Clearing Limited, the eighth largest shareholder with 1.6313 million shares, both of which are new entrants [2] Business Overview - Saiwei Times, established on May 31, 2012, and listed on July 12, 2023, is primarily engaged in technology-driven cross-border e-commerce, with 92.32% of its revenue coming from this segment [1][2] - The company operates within the Shenyuan industry classification of retail trade, specifically in the internet e-commerce and cross-border e-commerce sectors [1]

Investment Rating - The investment rating for the company is not explicitly stated in the provided documents, but the overall sentiment appears positive based on the performance metrics and growth expectations. Core Insights - The company reported a revenue of 8.188 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 20.4%. The net profit attributable to the parent company was 210 million yuan, up 7.3% year-on-year, while the net profit excluding non-recurring items was 221 million yuan, reflecting a significant increase of 35.4% [1][2]. - In Q3 2025, the company achieved a revenue of 2.843 billion yuan, which is an 8.3% increase year-on-year, and the net profit attributable to the parent company surged by 200.9% to 41 million yuan [1][2]. Summary by Sections Revenue and Profitability - The company has shown robust growth in its apparel and accessories segment, maintaining a continuous growth trend despite a large base. The revenue growth rate has slowed down due to factors such as expanding sales scale of various brands and trade friction impacting short-term shipments [2][3]. - The company has recorded a gross margin of 43.6% for the first three quarters of 2025, slightly down by 1.4 percentage points year-on-year. The gross margin for Q3 2025 was 41.8%, down 0.6 percentage points year-on-year [4]. Inventory and Non-Recurring Losses - The company has made a provision for inventory impairment of approximately 90.73 million yuan due to losses from financial products and equity investments, which have significantly impacted profits. However, the company is optimistic about future improvements in profitability through strategic adjustments [3][4]. Operational Efficiency - The company has effectively controlled its expense ratios, with sales, management, R&D, and financial expense ratios showing slight declines. The inventory turnover days have decreased to approximately 97.4 days, down by about 6.5 days year-on-year, indicating improved operational efficiency [4][6]. Future Projections - The company forecasts net profits attributable to the parent company of 340 million yuan, 560 million yuan, and 690 million yuan for 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 28.3X, 17.4X, and 14.1X [4][6].

Group 1 - The core viewpoint of the article highlights the financial performance of Saiwei Times, indicating a positive growth trajectory in revenue and net profit for the first three quarters of 2025 [1] - Saiwei Times reported a revenue of approximately 8.188 billion yuan, representing a year-on-year increase of 20.39% [1] - The net profit attributable to shareholders was around 210 million yuan, showing a year-on-year growth of 7.34% [1] - Basic earnings per share were reported at 0.5225 yuan, reflecting a year-on-year increase of 6.98% [1] Group 2 - As of the report, the market capitalization of Saiwei Times stands at 9.7 billion yuan [2] - The A-share market has surpassed 4000 points, indicating a significant market resurgence after a decade of stagnation, with technology leading the market's new "slow bull" pattern [2]

Core Insights - Saiwei Times, established on May 31, 2012, went public on July 12, 2023, on the Shenzhen Stock Exchange, positioning itself as a technology-driven leader in cross-border e-commerce with a focus on a multi-brand matrix and digital operations [1] Group 1: Business Performance - In Q3 2025, Saiwei Times reported revenue of 8.188 billion, ranking first in the industry, significantly above the industry average of 3.964 billion and the median of 4.018 billion, and far exceeding the second-ranked Huakai Yibai's revenue of 6.74 billion [2] - The main business composition includes cross-border e-commerce at 4.935 billion, accounting for 92.32%, logistics services at 349 million, accounting for 6.53%, and other services at 61.755 million, accounting for 1.16% [2] - The net profit for the same period was 210 million, ranking third in the industry, above the industry average of 135 million and the median of 45.0054 million, but below the first-ranked Focus Technology's 414 million and second-ranked Jihong's 259 million [2] Group 2: Financial Health - As of Q3 2025, Saiwei Times had a debt-to-asset ratio of 44.85%, lower than the previous year's 51.50% and below the industry average of 47.80%, indicating strong solvency [3] - The gross profit margin for Q3 2025 was 43.56%, slightly down from 44.93% in the previous year but still above the industry average of 38.17%, reflecting robust profitability [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 15.28% to 15,200, while the average number of circulating A-shares held per shareholder increased by 18.03% to 12,900 [5] - New major shareholders include China Europe Economic Growth Mixed Fund A and Hong Kong Central Clearing Limited, holding 2.679 million and 1.6313 million shares, respectively [5] Group 4: Executive Compensation - The chairman, Chen Wenping, received a salary of 5.3643 million in 2025, an increase of 744,100 compared to the previous year [4]