Core Viewpoint - Ningbo Taiping Bird Fashion Co., Ltd. experienced abnormal stock trading fluctuations with a cumulative closing price increase exceeding 20% over two consecutive trading days, prompting the company to clarify that there are no undisclosed significant information [2][3] Group 1: Stock Trading Abnormalities - The company's stock price increased by more than 20% cumulatively on November 18 and 19, 2025, which is classified as abnormal trading behavior according to the Shanghai Stock Exchange rules [2][3] - The company conducted a self-examination and confirmed that there are no undisclosed significant information affecting the stock price [4][5] Group 2: Financial Performance - As of the third quarter of 2025, the company's operating revenue was 421,699.43 million, a decrease of 7.15% compared to the same period last year [2][8] - The net profit attributable to shareholders was 2,825.90 million, reflecting a significant decline of 73.79% year-on-year, indicating substantial performance risks [2][8] Group 3: Valuation Metrics - The company's static price-to-earnings (P/E) ratio is 32.83, and the trailing twelve months (TTM) P/E ratio is 47.42, both significantly higher than the industry averages of 22.05 and 16.08, respectively [2][8]

Core Viewpoint - The company, Taiping Bird, announced that its stock experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over two consecutive trading days [2] Company Summary - The company reported a static price-to-earnings (P/E) ratio of 32.83 times and a trailing twelve months (TTM) P/E ratio of 47.42 times as of November 19, 2025 [2] - The company's P/E ratios are significantly higher than the industry averages, which are a static P/E ratio of 22.05 times and a TTM median P/E ratio of 16.08 times [2] - The company conducted a self-examination and inquired with its controlling shareholder and actual controller, confirming that there are no undisclosed significant information as of the announcement date [2] Industry Summary - The apparel, accessories, and luxury goods industry has a lower average static P/E ratio compared to the company's current ratios, indicating that the company is trading at a premium relative to its peers [2]

| | | 宁波太平鸟时尚服饰股份有限公司 股票交易异常波动公告 二、公司关注并核实的相关情况 针对公司股票异常波动情况，公司对有关事项进行了核查，现将有关情况说 宁波太平鸟时尚服饰股份有限公司（以下简称"公司"或"本公司"） 股票于 2025 年 11 月 18 日、11 月 19 日连续 2 个交易日内日收盘价格涨 幅偏离值累计超过 20%，属于股票交易异常波动。 经公司自查，并书面问询公司控股股东及实际控制人，截至本公告披露 日，不存在应披露而未披露的重大信息。 市盈率明显高于行业平均水平：截至 2025 年 11 月 19 日，公司股票静 态市盈率 32.83 倍、市盈率（TTM）47.42 倍，根据 WIND 服装、服饰与 奢侈品市盈率数据显示，公司所处行业静态市盈率22.05倍、市盈率（TTM） 中位数 16.08 倍，公司相关指标明显高于行业平均水平。 公司存在业绩下滑风险：公司 2025 年前三季度营业收入 421,699.43 万 元，较上年同期下降 7.15%；归属于上市公司股东的净利润 2,825.90 万元，较上年同期下降 73.79%，业绩下滑风险较大。敬请广大投资者注 意投资风险。 ...

Core Viewpoint - The company has experienced significant stock price fluctuations, with a cumulative increase of over 20% in two consecutive trading days, indicating abnormal trading activity [1] Financial Performance - For the first three quarters of 2025, the company's operating revenue was 421,699.43 million, representing a decline of 7.15% compared to the same period last year [1] - The net profit attributable to shareholders was 2,825.90 million, which is a substantial decrease of 73.79% year-on-year, highlighting a significant risk of performance decline [1] Investor Advisory - The company has conducted a self-examination and inquired with its controlling shareholders and actual controllers, confirming that there are no undisclosed significant information as of the announcement date [1]

Core Viewpoint - The company has experienced unusual stock price fluctuations, with a cumulative increase of over 20% in closing prices over two consecutive trading days, but has confirmed that there are no undisclosed significant information affecting its operations or stock price [1] Company Performance - The company reported a revenue of 421,699.43 million yuan for the first three quarters of 2025, representing a decline of 7.15% compared to the same period last year [1] - The net profit attributable to shareholders for the same period was 2,825.90 million yuan, showing a significant decrease of 73.79% year-on-year, indicating a high risk of performance decline [1] Stock Valuation - As of November 19, 2025, the company's static price-to-earnings (P/E) ratio is 32.83 times, and the trailing twelve months (TTM) P/E ratio is 47.42 times, both significantly higher than the industry average [1]

Core Viewpoint - The company announced that its stock experienced an abnormal fluctuation with a cumulative closing price increase deviation exceeding 20% over two consecutive trading days on November 18-19, 2025, and confirmed that there are no undisclosed significant information as of the announcement date [1] Financial Performance - For the first three quarters of 2025, the company's revenue was 4,216.99 million yuan, representing a year-on-year decline of 7.15% [1] - The net profit for the same period was 28.26 million yuan, showing a significant year-on-year decrease of 73.79%, indicating a high risk of performance decline [1] Valuation Metrics - As of November 19, 2025, the company's static price-to-earnings (P/E) ratio was 32.83 times, and the trailing twelve months (TTM) P/E ratio was 47.42 times, both of which are higher than the industry average, suggesting potential valuation concerns for investors [1]

Market Overview - The apparel and home textile sector increased by 0.44% compared to the previous trading day, with Taiping Bird leading the gains [1] - The Shanghai Composite Index closed at 3946.74, up 0.18%, while the Shenzhen Component Index closed at 13080.09, unchanged [1] Top Gainers - Taiping Bird (603877) closed at 18.01, up 10.02% with a trading volume of 216,700 shares and a turnover of 385 million yuan [1] - Langzi Co., Ltd. (002612) closed at 23.64, up 10.00% with a trading volume of 334,500 shares and a turnover of 757 million yuan [1] - Zhenai Meijia (003041) closed at 54.59, up 9.99% with a trading volume of 213,600 shares and a turnover of 1.147 billion yuan [1] - Jiumuwang (601566) closed at 16.74, up 9.99% with a trading volume of 173,360 shares and a turnover of 1.199 billion yuan [1] - Jiemai Co., Ltd. (301088) closed at 16.84, up 9.64% with a trading volume of 195,300 shares and a turnover of 331 million yuan [1] Top Losers - Seven Wolves (002029) closed at 10.83, down 7.36% with a trading volume of 999,300 shares and a turnover of 1.111 billion yuan [2] - ST Bulin (002569) closed at 10.88, down 4.98% with a trading volume of 40,300 shares and a turnover of 44.72 million yuan [2] - Wanlima (300591) closed at 10.33, down 4.97% with a trading volume of 651,800 shares and a turnover of 678 million yuan [2] Fund Flow Analysis - The apparel and home textile sector experienced a net outflow of 323 million yuan from institutional investors, while retail investors saw a net inflow of 60.78 million yuan [2] - The sector's overall fund flow indicates a mixed sentiment, with institutional investors withdrawing capital while retail investors are actively participating [2] Individual Stock Fund Flow - Langzi Co., Ltd. (002612) had a net inflow of 15.1 million yuan from institutional investors, but a net outflow of 43.64 million yuan from retail investors [3] - Longtou Co., Ltd. (600630) saw a net inflow of 41.03 million yuan from institutional investors, while retail investors experienced a net outflow of 61.28 million yuan [3] - Jiemai Co., Ltd. (301088) had a net inflow of 29.35 million yuan from institutional investors, with a slight net outflow from retail investors [3]

Group 1 - The apparel and home textile sector experienced significant upward movement, with Rongmei Co., Ltd. rising over 16% [1] - Jiumuwang achieved six consecutive trading limit increases [1] - Other companies such as Zhenai Meijia and Taiping Bird saw increases of over 8%, while Langzi Co. and Jiaxin Silk also followed suit with gains [1]

Core Viewpoint - The announcement from Taiping Bird indicates that shareholder Chen Hongchao did not proceed with the planned share reduction despite holding 22,398,600 shares, which represents 4.75% of the company's total equity [1] Group 1 - Taiping Bird announced that shareholder Chen Hongchao held 22,398,600 shares before the implementation of the reduction plan [1] - The shareholding of Chen Hongchao constitutes 4.75% of the total share capital of the company [1] - The reduction plan's deadline has passed without any shares being sold by Chen Hongchao [1]

Core Viewpoint - The company announced a change in the shareholding structure of its indirect controlling shareholder, Pengyuan Global Holdings Limited, with the shareholder changing from Mr. Zhang Jiangbo to Ms. Gong Jianhui, who is the spouse of the company's actual controller, Mr. Zhang Jiangping [1] Group 1 - The company received a notification regarding the change in the shareholding structure on November 18, 2025 [1] - The business registration for the shareholding change was completed on November 17, 2025 [1] - The total number of shares held by the company's controlling shareholder, actual controller, and their concerted parties remained unchanged after the transfer [1]