证券代码：600525 证券简称：ST长园 公告编号：2025055 长园科技集团股份有限公司 关于上交所对公司 2024 年年度报告的信息披露监管 问询函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 长园科技集团股份有限公司（以下简称"公司"）近期收到上海证券交易所 《关于长园科技集团股份有限公司2024年年度报告的信息披露监管问询函》（上 证公函【2025】0517号），以下简称"《问询函》"）。公司对《问询函》高度 重视，积极组织相关各方对《问询函》中涉及的问题进行逐项落实，现就《问询 函》相关问题回复如下： 问题一、关于关联方非经营性资金占用。公司年报及相关公告显示，公司 董事长吴启权控制的珠海市运泰利控股发展有限公司通过第三方占用公司资金， 实质重于形式的原则，将配合资金占用的7家供应商及其关联方（含下属公司） 追认为公司关联方，并对2023年年度报告及2023年3季报、2024年1-3季报中涉 及关联方非经营性资金占用相关的货币资金、其他应收款等科目进行了会计差 错更正。鉴于上述情况，年审会计师认为无 ...

Core Viewpoint - In 2024, despite a booming gold price market, the jewelry industry faced a wave of store closures, while the jewelry company Chaohongji (002345.SZ) achieved a net increase of 158 franchise stores, resulting in a revenue of 6.518 billion yuan, a year-on-year growth of 10.48%. However, the company's profitability sharply declined in the second half of 2024, with a net loss of 122 million yuan in Q4, a year-on-year decrease of 698.93% [2]. Group 1: Franchise Performance - Chaohongji operates three main brands: "CHJ Chaohongji," "VENTI Vandi," and "FION Fianie," with over 90% of revenue coming from the jewelry sector. In 2024, the national gold consumption dropped by 9.58% to 985.31 tons due to suppressed consumer demand from rising gold prices, leading to diminishing returns from the previous rapid expansion strategy through franchise stores [4][5]. - The number of franchise stores increased to 1,505 by the end of 2024, with 1,268 being franchise stores. The revenue from franchise contributions reached 3.284 billion yuan, a year-on-year increase of 32.35%, marking a historical high. However, the gross margin for this sales model fell to 17.25%, down from 23.97% in 2020, significantly lower than the self-operated model's 31.57% [5][6]. Group 2: Revenue and Profitability Challenges - From 2020 to 2024, the revenue from Chaohongji's fashion jewelry showed instability, with a 10.6% decline in 2022 and a negative growth in 2024. In contrast, traditional gold products consistently showed positive growth during the same period, with a 30.21% increase in 2024 [8]. - The gross margin for traditional gold products remained low, fluctuating around 9% from 2020 to 2024, necessitating volume growth to support profitability. The company aims to increase its store count to 2,000 by 2025, but the actual net increase in 2024 fell short of expectations, posing a significant challenge [8][9]. - The company's leather goods segment, particularly the brand "FION Fianie," has underperformed, leading to multiple goodwill impairment provisions totaling 1.77 billion yuan in 2024 due to unmet performance expectations. The revenue from this segment dropped by 27.38% to 324 million yuan [9].

Core Viewpoint - Haiyang Technology's stock experienced significant volatility post-IPO, with a nearly 48% drop in three days, despite initial investor enthusiasm driven by the broader chemical fiber sector's performance [2][3]. Financial Performance - Haiyang Technology's revenue for 2022, 2023, and 2024 is projected to be 406.72 million, 411.28 million, and 554.24 million respectively, while its net profit after deducting non-recurring items is expected to be 149.82 million, 120.53 million, and 164.24 million respectively [4]. - The company's main business gross margin has declined from 10.37% in 2022 to 7.42% in 2024, significantly below the industry average of 14% [4][6]. Market Position - Haiyang Technology ranks third in the nylon tire cord fabric industry and second in the nylon 6 tire cord fabric sector, with a domestic market share of over 5% in nylon 6 chips [3]. Inventory and Receivables - The company's inventory has increased by 49.7% over two years, with balances of 376.80 million, 439.67 million, and 564.38 million for the respective years [7]. - Accounts receivable have also risen, with balances of 434.66 million, 552.42 million, and 638.01 million, indicating increasing collection pressure [7]. Debt and Financial Health - Haiyang Technology's debt-to-asset ratio has consistently exceeded the industry average, reaching 57.73% by March 2025, indicating potential repayment pressure if operational efficiency and debt structure are not improved [8]. Related Party Transactions - The company has complex related party transactions, including significant purchases from its largest supplier, Hengshen Group, which raises concerns about potential conflicts of interest and financial control [9][10]. Research and Development - Haiyang Technology's R&D expense ratio is below industry peers, with rates of 1.98%, 1.81%, and 2.01% over the report period, suggesting potential weaknesses in innovation capabilities [12]. Growth Potential - The company aims to enhance its product mix with high-margin products through new projects, but faces risks related to capacity expansion and cash flow erosion [13].

从产品销售价格来看，公司2024年酒类产品平均售价同比增长2%，除出厂价50元以下、200元～300元 两个价格带产品平均售价分别增长31%、59%外，其他价格带产品均有个位数下降。 每经记者｜熊嘉楠 每经编辑｜彭水萍 6月11日，舍得酒业发布《关于上海证券交易所<关于公司2024年年度报告的信息披露监管问询函>的回 复公告》，就问询函涉及的主营业务、在建工程等问题进行详细回复。 其中，公司对于报告期产品毛利率大幅下滑的原因及合理性进行了重点回复。2024年年报显示，报告期 内公司酒类产品毛利率为70.93%，较上年同期减少7.75个百分点。 从产品结构来看，2024年公司200元以上的产品销售收入占比均有所下滑是导致销售毛利率减少的直接 原因，其中300元～500元产品2024年销售收入占比同比减少7.83个百分点。 今年一季度，舍得酒业实现营业收入15.76亿元，环比提升75.68%；实现净利润3.461亿元，超越去年全 年3.458亿元水平。 从成本端来看，受材料价格、生产量及销售订单影响，导致报告期公司酒类业务单位成本较同期增长 38.8%，其中50元以下产品同比增长55.27%。 舍得酒业指出，面对 ...