证券代码：002291 证券简称：遥望科技 公告编号：2025-103 广东遥望科技集团股份有限公司 2025 年第五次临时股东会决议公告 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。 特别提示： 1.本次股东会无否决提案的情况； 1.召开时间： （1）现场会议召开时间：2025年12月18日下午14:30 （2）网络投票时间：2025年12月18日 其中，通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年12 月18日上午9:15—9:25，9:30—11:30，下午13:00—15:00；通过深圳证券交易 所互联网投票系统投票的具体时间为：2025年12月18日9:15—15:00期间的任意 时间。 2.现场会议召开地点：广东省佛山市南海区桂城街道庆安路2号A幢A101室 -A105公司会议室 3.会议召集人：公司董事会 2.本次股东会无变更前次股东会决议。 一、会议召开和出席情况 4.会议方式：本次股东会采取现场表决与网络投票相结合的方式。 5.会议主持：本次会议由副董事长李刚先生主持。 （一）表决情况 本次股东会会议表决情况如下： 1.审 ...

Core Insights - The focus of the market has shifted from the superficial aspects of the internet celebrity economy represented by Lijing International to the underlying wealth flows and industrial logic [2][4][35] - The domestic live streaming market transaction scale has surged from 12.85 trillion yuan in 2020 to 35 trillion yuan in 2023, indicating significant growth beyond mere numbers and creating numerous wealth myths [4][35] - The transformation of Lijing International, once a symbol of the booming live streaming economy, reflects the profound changes in the live commerce industry, with many properties now vacant and repurposed for everyday use [2][35] Industry Trends - The live commerce sector has seen a rise in various players, from knowledge-based influencers to ordinary streamers, breaking class barriers and accelerating capital accumulation [7][40] - The industry has produced significant players like Yaowang Technology, which became the first live commerce stock, and niche brands that have rapidly ascended in their categories [7][40] - Despite the growth, the live commerce industry's growth rate is expected to decline to single digits (8.31%) in 2024, indicating a shift towards normalization and potential signs of a downturn [8][41] Market Dynamics - The e-commerce sector's incremental growth has peaked, with online retail sales of physical goods increasing from 97.59 trillion yuan in 2020 to 130 trillion yuan in 2024, but the year-on-year growth rate has plummeted from 14.8% to 0.49% [8][41] - The competition in the online market has intensified, leading to a resurgence of value in offline channels, as evidenced by strategic shifts among companies [12][45] - The average gross profit margin for e-commerce platforms has decreased by 8.3 percentage points over the past five years, with many merchants now operating at net profit margins below 5% [21][22] Challenges for Small Merchants - Many small merchants are facing severe challenges, including high return rates and declining revenues, leading some to abandon e-commerce for more stable income sources like food delivery [13][46] - The return rates for various categories have skyrocketed, with women's clothing seeing rates between 60%-75%, and some items even exceeding 90%, creating unsustainable business models [17][18] - The cost of high return rates is crippling for small businesses, with significant hidden costs associated with returns, leading to a cycle of financial strain [18][19] Strategic Shifts - Companies are increasingly shifting their strategies from high-cost influencer collaborations to more sustainable models involving smaller influencers and self-broadcasting [22][23] - The trend indicates a growing preference for long-term brand building over short-term sales spikes, as businesses recognize the limitations of relying solely on paid traffic for customer acquisition [22][23] - The industry is witnessing a transition towards valuing product quality, health-conscious business practices, and brand integrity as essential components for sustainable growth [32][33]

近期，有关"杭州网红主播大撤退"的话题备受关注。对此，浙江日报报业集团旗下的潮新闻客户端和 《杭州日报》近日接连发文回应，前者认为这是"主观感知与客观现实间的罗生门"，其温差源自"高速 成长城市的普遍阵痛"，后者则援引业内人士的话表示，杭州的网红净流入量目前仍呈增长状态。 文章进而表示，洞察了这场阵痛的普遍性与结构性，我们才能超越"离开还是留下"的表层争论，去回答 那个更关键的问题：一座有远见的城市，当如何系统性地弥合这种温差，将发展的温度精准传递给每一 个为之奋斗的人？ 此前的12月12日，《杭州日报》刊发《直播天地的"杭州引力"》的报道，详细介绍了杭州直播电商行业 的现状。 据媒体报道，今年以来，被称为"网红经济第一城"的杭州，曾经分布全城的电商网红主播出现了批量离 开现象，引发了有关杭州"网红经济"泡沫是否破裂的热议。多家媒体以当地知名"网红大楼"——丽晶国 际大厦为例称，这座巅峰时期汇聚了近两万名主播与从业者、"一栋楼的GDP堪比一个县"的楼宇，如今 却变得冷清，租金近乎腰斩，高空置率成为常态。 "要理解这场讨论为何兴起，就得看清其本质——这并非客观事实层面的分歧，而是主观感知与客观现 实之间的一场罗 ...

Core Viewpoint - The narrative surrounding Hangzhou's live-streaming economy suggests a decline, but a deeper investigation reveals a more nuanced reality, indicating a transition rather than a collapse of the industry [1][2]. Group 1: Industry Dynamics - Hangzhou is recognized as a pivotal area for China's digital economy, with its actions often serving as industry indicators [1]. - The total revenue of the top 32 MCN (Multi-Channel Network) institutions in Hangzhou reached 5.993 billion yuan in the first half of the year, marking a 17% year-on-year increase [4]. - The profitability of these institutions is stable, with total profits ranging between 260 million yuan and 360 million yuan [4]. Group 2: Market Perception vs. Reality - Claims of "massive vacancies" in commercial properties are misleading; the actual tenant demographic includes primarily local white-collar workers, with live-streaming teams being a minor segment [3]. - The notion of "rent halving" is viewed as a return to reasonable pricing rather than a market crash, as previous inflated rents were driven by speculative practices [3]. Group 3: Talent Migration - The significant departure from Hangzhou is primarily among entertainment streamers rather than sales-focused influencers, indicating a shift in market dynamics [6][7]. - Approximately 20% to 30% of mid-tier influencers have left Hangzhou in the past two years, which is seen as a necessary correction to the market [7]. Group 4: Evolving Business Models - There is a growing trend towards "store broadcasting" over traditional influencer-led sales, with brand-owned live streams now accounting for over 50% of transactions on platforms like Tmall and Douyin [7]. - Companies are increasingly investing in their own live-streaming capabilities, reducing reliance on high-cost influencers, which is leading to a more sustainable business model [7][8]. Group 5: Future Outlook - The competition in the live-streaming sector is shifting from volume-based strategies to depth and quality of engagement, with a focus on integrating live-streaming technology into traditional industries [9]. - Regulatory changes are fostering a more structured environment, with all income now subject to taxation, which is expected to benefit legitimate businesses [10][11]. - The industry is moving towards a more stable growth phase, with a focus on solidifying the foundational aspects of the live-streaming economy rather than chasing rapid, unsustainable profits [11].

Core Viewpoint - The discussion around the "mass exodus of internet celebrities from Hangzhou" reflects a discrepancy between subjective perceptions and objective realities, stemming from the growing pains of a rapidly developing city [1][3] Group 1: Current State of the Influencer Economy in Hangzhou - Reports indicate a significant number of e-commerce influencers have left Hangzhou, raising concerns about a potential bubble in the influencer economy [1] - The iconic Lijing International Building, once home to nearly 20,000 influencers, now faces high vacancy rates and plummeting rental prices, nearly halving [1] - Despite the perceived exodus, the net inflow of influencers in Hangzhou is still on the rise, with a shift in the structure of influencers towards more store-based broadcasting [6][9] Group 2: Population and Talent Dynamics - Hangzhou's resident population reached 12.624 million in 2024, an increase of 102,000 from the previous year, marking a decade of consistent population growth [3] - The city has seen a notable influx of young, highly educated individuals, with over 400,000 university graduates under 35 moving to Hangzhou in recent years [3] - A report ranked Hangzhou fourth in the national talent attraction index for post-95s, surpassing Guangzhou, indicating its growing appeal among the younger generation [4] Group 3: Industry Trends and Future Outlook - The live-streaming e-commerce sector in Hangzhou is transitioning from rapid expansion driven by traffic to a focus on quality and innovation [7] - The total live-streaming sales in Hangzhou for the first ten months of the year reached 364 billion yuan, with projections for the year to exceed 420 billion yuan, reflecting steady growth [7] - The industry is moving towards a more diversified product offering, with a shift from low-cost items to high-quality, personalized products, driven by changing consumer behavior towards more rational spending [11]

Core Insights - The article highlights the transformation of Hangzhou into a leading hub for live-streaming e-commerce, with a clear goal set for 2027 to establish a high-quality platform economy development system [3][13]. Group 1: Industry Growth and Development - Hangzhou's live-streaming e-commerce industry has seen significant growth, with 4.86 million live-streaming sessions and a transaction volume of 364 billion yuan from January to October 2025, projected to exceed 420 billion yuan for the entire year [8]. - The city has established a complete industrial chain involving over 15,000 market entities related to live-streaming, including platforms, supply chains, and MCN organizations [12]. - The local government is actively supporting new consumption and brand development, contributing to the sustained growth of domestic brands [7][12]. Group 2: Individual Success Stories - The article features the journey of a successful live-streamer, Xiao Wu, who transitioned from selling fruit to becoming a top seller for multiple brands, demonstrating the potential for personal growth within the industry [5][14]. - Other entrepreneurs, such as Li Jing and Zhang Zipin, have successfully expanded their brand from fur to a full seasonal women's clothing line by relocating their production to Hangzhou, achieving significant sales milestones [6]. - Lin Yilun, a well-known live-streamer, has shifted his focus from merely selling products to sharing cultural stories, enhancing the viewer experience and deepening the connection with the audience [10][11]. Group 3: Strategic Shifts and Future Outlook - The live-streaming e-commerce sector in Hangzhou is moving from a phase driven by traffic to one focused on innovation and quality improvement [12]. - The city's strategic plans, including the "New E-commerce Capital Action," aim to create broader development opportunities for the live-streaming industry [13]. - The influx of top influencers and celebrities into Hangzhou reflects the city's growing significance in the live-streaming landscape, indicating a strong "siphoning effect" that attracts talent and investment [12].

证券日报网讯 12月11日晚间，遥望科技发布公告称，何建锋先生当选为公司第六届董事会职工代表董 事。 （文章来源：证券日报） ...

关于选举职工代表董事的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和 完整，没有虚假记载、误导性陈述或重大遗漏。 因《中华人民共和国公司法》《关于新<公司法>配套制度规则实施相关过 渡期安排》以及《公司章程》等相关规定，广东遥望科技集团股份有限公司（以 下简称"公司"）董事会治理结构需做调整。公司于 2025 年 12 月 10 日召开职 工代表大会，经与会职工代表民主选举，何建锋先生当选为公司第六届董事会职 工代表董事（简历见附件）。何建锋先生关于职工代表董事的任期至公司第六届 董事会任期届满之日止。 何建锋先生符合《公司法》《公司章程》规定的有关职工代表董事任职资 格和条件，其任职职务由非独立董事变更为公司职工代表董事，公司第六届董 事会成员数量仍为 7 名，其中兼任公司高级管理人员以及由职工代表担任的董事 人数总计未超过公司董事总数的二分之一，符合相关法律法规的要求。 截至本公告披露日，何建锋先生直接持有公司股份 137,206 股，持有公司 2023 年股票期权激励计划已获授但尚未行权的股票期权 75,000 份，其所持本公 司的股票将按照《公司法》《深圳证券交易所股票上市规则》《深圳证券 ...

Core Viewpoint - The long transformation story of "the first stock of women's shoes" seems to have reached its conclusion as the company announces the transfer of its wholly-owned subsidiary, Foshan Saturday Shoe Industry Co., Ltd., for a minimum price of 453 million yuan [1][2]. Business Transition - The company has been expanding its brand joint sales while reducing offline self-operated channels, but new business developments have not fully alleviated the operational pressures from the transformation, leading to significant revenue declines and ongoing losses [2][5]. - The divestiture is a clear declaration of the company's strategic shift towards becoming the "first stock of live e-commerce," focusing all resources on digital marketing and e-commerce live streaming [2][8]. Historical Context - Saturday was the first women's shoe company listed on A-shares, with a revenue of 880 million yuan and a net profit of 114 million yuan in its first year of listing in 2009 [3]. - The traditional shoe retail industry has faced significant challenges over the past decade due to the rise of e-commerce and changing consumer habits, leading to high inventory and declining store revenues [3][4]. - In 2017, the company's net profit plummeted by 1789.31%, prompting a shift towards a "light asset" operational model [3]. Financial Performance - By 2021, the company's internet advertising revenue reached 2.266 billion yuan, accounting for 80.62% of total revenue, while fashion footwear revenue dropped to 538 million yuan, making up less than 20% [4]. - In 2022, the internet advertising and clothing and footwear business accounted for 91.64% and 8.15% of revenue, respectively, indicating a significant shift in business focus [5]. - The company's clothing and footwear revenue fell to 86.44 million yuan in the first half of the year, a year-on-year decline of 26.34%, representing less than 5% of total revenue [5][11]. Market Position and Challenges - The divestiture of the footwear business allows the company to present a cleaner narrative to the capital market, focusing on its capabilities in supply chain management and star IP resources [8]. - However, the complete divestiture also means the company loses its last tangible asset buffer, exposing it to intense competition in the internet traffic market [8][9]. - The company has recorded continuous losses for four years, totaling over 3 billion yuan, with a significant decline in net profit since 2021 [9][10]. Future Outlook - The company's future performance will be entirely defined by its internet business, facing challenges such as high traffic costs and the need for refined operations to achieve cost reduction and efficiency [12][13]. - The divestiture marks the end of a ten-year transformation story but also begins a new chapter, testing the company's resilience in the live e-commerce sector [13].

Core Viewpoint - The company, Yaowang Technology, is divesting its 100% stake in Foshan Saturday Shoe Industry Co., Ltd. for 453 million yuan after three consecutive years of losses and a market value decline exceeding 4 billion yuan, marking a significant business adjustment and a final capital game settlement [1] Financial Transactions and Corporate Structure - In 2019, the company, then known as "Saturday," acquired 88.5651% of Yaowang Network for 1.77 billion yuan through a combination of cash and stock, facilitating its entry into the live e-commerce sector and rebranding as "Yaowang Technology" in 2022 [2] - The divestiture of the shoe business is viewed as a cleanup of assets in the "post-shell era," following the completion of the reverse merger process years prior [2] - Yaowang Technology has three joint ventures established in 2019 that are major clients, with accounts receivable totaling 626 million yuan by the end of 2023, raising concerns about potential inflated receivables and profit transfer to related parties [2] Performance and Valuation Concerns - The valuation of Saturday Shoe Industry in the current transaction reflects a 130.89% increase, which is notable for a company that has been consistently losing money [3] - Yaowang Network met its performance commitments during the acquisition period, but post-commitment, the company's overall performance has significantly declined, with four consecutive years of losses from 2021 to 2024 [4][5] - The initial market enthusiasm did not translate into sustainable business success, as the two business segments operated independently and negatively impacted each other [5] Future Outlook and Challenges - The sale of Saturday Shoe Industry is expected to optimize the company's asset structure and reduce financial pressure, with the transaction potentially alleviating some immediate financial burdens [6] - However, the fundamental issues facing the company remain unresolved, as the live e-commerce sector matures and competition intensifies, leading to rising platform traffic costs [7] - As of Q3 2025, the company reported revenues of 2.613 billion yuan, a year-on-year decline of 34.65%, and a net loss of 415 million yuan, with its stock price plummeting from a historical high of 36.56 yuan to around 6 yuan, resulting in a market value loss exceeding 20 billion yuan [8]