比音勒芬服饰股份有限公司 2024 年度独立董事述职报告 各位股东及股东代表： 本人作为比音勒芬服饰股份有限公司（以下简称"公司"）第四届董事会曾任 独立董事，2024 年度严格按照《公司法》《证券法》《上市公司独立董事管理办法》 及《公司章程》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司 规范运作》等有关规定，勤勉、忠实、尽责地履行职责，充分发挥独立董事的独立 作用，谨慎认真地行使法律所赋予的权利，维护公司整体利益以及全体股东尤其是 中小股东的合法权益。现就本人 2024 年度履行独立董事职责有关情况汇报如下： 一、独立董事的基本情况 （三）与内部审计机构及会计师事务所的沟通情况 本人许晓霞，1963 年出生，中国国籍，无境外永久居留权，硕士研究生。曾担 任广东汕头公元感光材料研究所工程师、广东汕建国际实业集团机电设备公司副总 经理、华南理工大学工商管理学院院长助理兼培训中心主任、广东民营企业家学院 执行院长；现任华南理工大学广东省中小企业研究咨询中心执行主任、百步青年 （广州）管理咨询有限公司公司执行董事。兼任广东产融控股股份有限公司董事、 兼任广东华大创投投资管理有限公司经理，报告期内 ...

比音勒芬服饰股份有限公司 2024 年度独立董事述职报告 一、独立董事的基本情况 本人贺春海，1971 年出生，中国国籍，无境外永久居留权，大学本科学历，注 册会计师，具有会计、审计业务专长。曾任广东康元会计师事务所有限公司项目经 理、中和正信会计师事务所有限公司高级经理、天健正信会计师事务所有限公司高 级经理、合伙人，曾任广州天赐高新材料股份有限公司独立董事、海南海峡航运股 份有限公司独立董事。现任信永中和会计师事务所（特殊普通合伙）合伙人，兼任 国义招标股份有限公司独立董事、悍高集团股份有限公司独立董事。现任公司独立 董事。 报告期内，本人任职期间符合《上市公司独立董事管理办法》第六条规定的独 立性要求，不存在影响独立性的情况。 二、独立董事年度履职概况 （一）出席股东大会及董事会情况 2024 年度，公司共召开 8 次董事会会议和 3 次股东大会会议。本人秉持勤勉尽 责、真诚守信的原则，认真审阅会议资料，积极投身讨论并提出合理化建议。在所 有会议中，我均对审议的议案投下赞成票，未对任何议案表示异议。通过审慎行使 表决权，为公司董事会作出正确决策起到了积极的作用。报告期内，本人出席股东 大会、董事会的情况 ...

一、独立董事的基本情况 本人刘晓英，1979 年出生，中国国籍，无境外永久居留权，华南理工大学，管 理学博士，具有品牌战略管理专长。现任华南理工大学新闻与传播学院副教授、硕 士生导师。2024 年 1 月至今，任公司独立董事。 本人任职期间符合《上市公司独立董事管理办法》第六条规定的独立性要求， 不存在影响独立性的情况。 比音勒芬服饰股份有限公司 2024 年度独立董事述职报告 各位股东及股东代表： 本人作为比音勒芬服饰股份有限公司（以下简称"公司"）第五届董事会独立 董事，2024 年度严格按照《公司法》《证券法》《上市公司独立董事管理办法》及 《公司章程》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规 范运作》等有关规定，勤勉、忠实、尽责地履行职责，充分发挥独立董事的独立作 用，谨慎认真地行使法律所赋予的权利，维护公司整体利益以及全体股东尤其是中 小股东的合法权益。现就 2024 年度履行独立董事职责情况汇报如下： （二）出席董事会专门委员会、独立董事专门会议情况 报告期内，公司召开 1 次战略委员会会议，1 次薪酬与考核委员会，本人任期内 召开了 5 次审计委员会会议，本人作为公司战略 ...

Financial Performance - The company's operating revenue for 2024 reached ¥4,004,463,319.82, representing a 13.24% increase compared to ¥3,536,132,714.02 in 2023[19] - The net profit attributable to shareholders decreased by 14.28% to ¥780,690,051.75 in 2024 from ¥910,754,003.74 in 2023[19] - The net profit after deducting non-recurring gains and losses was ¥744,252,350.90, down 14.20% from ¥867,457,631.43 in the previous year[19] - Cash flow from operating activities fell by 42.10% to ¥750,261,880.49 in 2024, compared to ¥1,295,880,336.01 in 2023[19] - Basic earnings per share decreased to ¥1.37 in 2024, down 14.38% from ¥1.60 in 2023[19] - The total assets at the end of 2024 were ¥7,201,774,632.60, a 7.05% increase from ¥6,727,642,887.64 at the end of 2023[19] - The net assets attributable to shareholders increased by 3.74% to ¥5,079,630,378.87 at the end of 2024, compared to ¥4,896,650,107.72 at the end of 2023[19] - The weighted average return on equity decreased to 15.65% in 2024 from 20.31% in 2023, a decline of 4.66%[19] Revenue and Sales Growth - In Q1 2024, the company's operating revenue was approximately CNY 1.27 billion, with a net profit attributable to shareholders of CNY 362.08 million[23] - The company's net profit for Q2 2024 was CNY 117.12 million, showing a significant decrease compared to Q1[23] - The total retail sales of clothing in China for 2024 reached CNY 1.07 trillion, with a year-on-year growth of 0.1%[29] - The outdoor apparel sales on Tmall reached CNY 13.61 billion from January to October 2024, representing a year-on-year increase of 14.5%[33] - The apparel segment accounted for ¥3,970,129,288.3, or 99.14% of total revenue, with a growth of 13.19% from ¥3,507,507,207.6 in the previous year[106] - Online sales surged by 35.03%, totaling ¥263,258,481.76, up from ¥194,966,298.83 in 2023, reflecting a growing trend in e-commerce[108] - The total sales volume for apparel reached 4,958,576 units, marking a 13.07% increase from the previous year[114] Market Strategy and Brand Development - The company aims to become a globally recognized high-end apparel group with a focus on high-end, youth-oriented, international, and standardized strategies accelerating in 2024[42] - The company operates multiple brands, including Biyinlefen, Biyinlefen Golf, CARNAVAL DE VENISE, KENT & CURWEN, and CERRUTI 1881, targeting various market segments[43] - The company has launched a youth-oriented branding strategy, appointing actor Ding Yuxi as the brand ambassador to connect with younger consumers[83] - KENT & CURWEN returned to London Fashion Week in September 2024, unveiling its first women's collection, aiming to enhance brand competitiveness[84][85] - The company plans to expand its presence in first-tier and new first-tier cities with new store openings for KENT & CURWEN and CERRUTI 1881[56][57] - The company is focusing on expanding its market presence in high-end sportswear, leveraging new technologies for product differentiation[133] Innovation and Technology - By 2026, over 80% of technology products are expected to integrate some form of AI technology, significantly impacting the apparel manufacturing sector[40] - The company has adopted a light asset brand operation model, focusing on high value-added product R&D and brand marketing while outsourcing production and logistics[59] - The company is enhancing its digital transformation, integrating AI into product planning and design processes, and building smart warehouses and stores[63] - The company aims for an AI penetration rate of over 90% in key scenarios within the next three years, collaborating with Guangzhou Lijing Software Technology and Tsinghua University[80] - The company is committed to continuous R&D efforts to meet the growing demand for functional textiles in the sportswear market[134] Financial Management and Governance - The company has established a complete and independent business system, ensuring operational independence from the controlling shareholder in areas such as business, personnel, assets, and finance[182] - The company has an independent financial department and a standardized financial management system, allowing for independent financial decision-making and tax compliance[190] - The company has a total of 3 supervisors in the supervisory board, including 1 employee representative, complying with legal and regulatory requirements[181] - The controlling shareholder, Mr. Xie Bingzheng, serves as the chairman and adheres to regulations, ensuring that major business decisions do not harm the interests of the company and other shareholders[182] - The company has established a governance structure that complies with the Company Law and Articles of Association, ensuring independent operation of the board and supervisory board[189] Challenges and Risks - Risks include outsourcing production, which may affect product quality and delivery timelines, with measures in place to mitigate these risks[171] - The company faces management risks associated with rapid network expansion, necessitating enhanced talent management and performance evaluation systems[172] - High inventory levels pose a risk, with strategies to diversify channel layouts and strengthen digital management to address potential market changes[174] Future Outlook - The company plans to increase marketing investments to strengthen brand value and enhance internationalization efforts through new media channels[168] - The strategy includes expanding the shopping center presence and optimizing store models to improve single-store performance[169] - The company is committed to attracting top talent to build a management team with international perspectives and competitive capabilities[170]

比音勒芬服饰股份有限公司 2025 年第一季度报告 证券代码：002832 证券简称：比音勒芬 公告编号：2025-015 比音勒芬服饰股份有限公司 2025 年第一季度报告 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。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、 完整。 3.第一季度报告是否经审计 □是 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | | | | | （%） | | | 营业收入（元） | 1,286,065,302.48 | 1,268,238,226.85 | | 1.41% | | 归属于上市公司股东的净利 | 331,428,305.29 | 362,078,897.80 | | -8.47% | | 润（元） | | | ...

Core Viewpoint - The article highlights the evolution and strategic initiatives of Biyinlefen Apparel Co., Ltd., emphasizing its commitment to innovation, cultural integration, and global market expansion in the fashion industry [2][6]. Group 1: Company Overview - Biyinlefen, established in 2003, has transformed from a golf apparel company into a diversified fashion group with five major brands, including CERRUTI 1881 and KENT& CURWEN, catering to various consumer dressing needs [2]. - The company focuses on high-quality, high-tech apparel development, driven by technological innovation and a brand culture of continuous improvement [2]. Group 2: Technological Innovation - Biyinlefen is enhancing its technological capabilities by integrating digital technology, big data, and artificial intelligence into design, product development, and production processes [3]. - The company has launched a new product, the "Small Collar T" for spring and summer 2025, featuring a patented collar design and proprietary fabric with high durability and sun protection, addressing multiple consumer scenarios [3]. - Biyinlefen's T-shirt category has maintained the highest market share in its segment for seven consecutive years, showcasing its effective market conversion of technological achievements [3]. Group 3: Cultural Integration - The company emphasizes cultural production power by incorporating elements of traditional Chinese culture into its fashion offerings, aiming to modernize and express these cultural aspects [4]. - Biyinlefen has been a partner of the Chinese national golf team for 12 years, providing innovative sportswear that reflects cultural significance and supports the growth of golf in China [4]. - The brand collaborates with cultural institutions to create collections that blend traditional craftsmanship with contemporary fashion, enhancing the cultural depth of its products [4][5]. Group 4: Global Market Strategy - Biyinlefen is actively pursuing an international development strategy, establishing design and production bases in various countries, including Japan, South Korea, and Vietnam [6]. - The company has acquired historical brands CERRUTI 1881 and KENT& CURWEN, gaining global trademark rights and craftsmanship systems to enhance its international presence [6]. - Biyinlefen has set up a brand licensing subsidiary in Singapore and a creative center in Paris, collaborating with global designers and suppliers to integrate international resources into its product offerings [6]. Group 5: Industry Positioning - The company aims to leverage China's comprehensive industrial system and vast consumer market to elevate its status to a world-class apparel group, contributing to the high-quality development of the Chinese fashion industry [7].

Investment Rating - The report suggests a positive outlook for the apparel sector, indicating potential investment opportunities as consumer confidence and spending gradually recover [1][10]. Core Insights - In March, retail sales showed a robust performance with a year-on-year growth of 5.9%, while apparel retail sales grew by 3.6%, slightly below the overall market due to adverse weather conditions affecting spring apparel sales [1][10]. - The report highlights that the recovery in consumer spending is supported by government initiatives, including consumption subsidies and a special action plan to boost consumption [1][10]. - The apparel sector is viewed as being in a recovery phase, with potential for further growth as temperatures rise in key cities, which is expected to enhance sales of spring and summer clothing [1][10]. Industry Data Tracking - Raw material prices remain stable, with 328 grade cotton priced at 14,902 RMB per ton, and the price of American cotton at 80.1 cents per pound [3][14]. - The report tracks various segments within the industry, noting that the sports and outdoor apparel sector is on an upward trend, while men's and women's apparel are stabilizing at the bottom [3][14]. Investment Recommendations - For apparel brands, the report recommends companies like Hailan Home, which is adapting to consumer trends and has strong profitability potential, and Anta Sports, which is expected to benefit from the recovery of major brands like Adidas and Nike [4][26]. - In the upstream manufacturing sector, the report suggests that leading textile manufacturers are well-positioned to withstand external uncertainties, with recommendations for companies such as Zhejiang Natural and Shenzhou International [4][26]. Market Review and Company Announcements - The textile and apparel sector saw a weekly increase of 1.57%, ranking 6th among 28 industry sectors [5][21]. - Key company announcements include Baolong Oriental reporting a revenue of 7.941 billion RMB, a year-on-year increase of 14.86%, despite a decline in net profit [5][31].

Investment Rating - The report suggests a positive outlook for the apparel sector, indicating that it is in a recovery phase with potential investment opportunities [1][10]. Core Insights - March retail performance in the apparel sector showed resilience, with a year-on-year growth of 3.6%, reflecting a gradual recovery in consumer spending driven by government initiatives [1][10]. - The online sales of apparel and accessories grew by 2.6% year-on-year in March, with notable performances from brands like FILA and Bosideng, which saw significant increases in sales [2][12]. - The report highlights the stability in raw material prices, with 328-grade cotton priced at 14,902 RMB per ton, indicating a stable supply chain environment [3][14]. Summary by Sections Industry Data Tracking - The apparel retail sector experienced a year-on-year growth of 5.9% in March, with a notable increase in consumer confidence due to government subsidies [1][10]. - The performance of various segments within the apparel industry shows a positive trend, particularly in sports and outdoor apparel, which maintained good growth rates [2][12]. Investment Recommendations - Recommended brands include Hai Lan Home, Anta Sports, and Wellbeing Medical, which are expected to benefit from market trends and consumer preferences [4][26]. - The report suggests that leading textile manufacturers like Zhejiang Natural and Shenzhou International are well-positioned to navigate external uncertainties and gain market share [4][26]. Market Review and Company Announcements - The textile and apparel sector saw a 1.57% increase in the last week, ranking sixth among 28 industry sectors [5][21]. - Key company announcements include Baolong Oriental reporting a revenue increase of 14.86% year-on-year, while Xinao shares noted a 9.07% revenue growth [30][31].

Group 1: Core Insights - Domestic demand is steadily improving, with sports goods leading the growth, while external demand shows a clear "export grabbing" effect [2] - The retail sales of clothing, shoes, hats, and textiles reached 369.4 billion yuan in Q1 2025, a year-on-year increase of 2.5% [2] - The retail sales of sports and entertainment goods reached 30.7 billion yuan in Q1 2025, growing by 14.2%, the fastest growth among all categories [2] Group 2: Company Performance - Anta's brands, including Anta and FILA, experienced high single-digit growth in Q1 2025, with new brands achieving over 65% growth [3] - 361 Degrees saw a 10-15% growth in offline adult and children's clothing, with e-commerce growth of 35-40% [3] - Li Ning is expected to have low single-digit retail growth in Q1 2025, maintaining stable inventory levels [3] Group 3: Apparel Sector - Men's clothing is recovering, with expected revenue growth of 5% for brands like YOUNGOR and 3% for HLA in Q1 2025 [4] - Children's clothing is anticipated to see new growth driven by an increase in newborns and supportive national policies, with expected revenue growth of 3% for Semir and 10% for Jiaman in 2024 [4] Group 4: Home Textiles - The retail effect of national subsidies is expected to manifest in 2025, with the wedding market likely to recover, driving a significant turning point for the sector [5] - Luolai is nearing the end of its inventory reduction phase, with expected revenue and net profit growth of 3% and 25% respectively in Q1 2025 [5] Group 5: Textile Manufacturing - The impact of tariffs on end demand and order prospects is increasing uncertainty [6] - Major manufacturers are expected to maintain stable orders due to deep ties with top brands, with Huayi projected to see a 12% revenue increase and a 20% net profit increase in Q1 2025 [6] - Zhejiang's outdoor equipment sector is expected to achieve a 35% revenue increase and a 90% net profit increase in Q1 2025 [6]