良品铺子股份有限公司 会议资料 二零二五年五月 良品铺子股份有限公司 2024 年年度股东大会 一、现场会议召开时间和地点： 号良品大厦）。 二、网络投票时间： 东大会召开当日的交易时间段，即 9:15-9:25，9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 三、会议表决方式：现场投票和网络投票相结合。 四、会议主持人：董事长程虹先生。 五、会议审议议案： 序号 议案名称 非累积投票议案 网络投票起止时间：自 2025 年 5 月 20 日至 2025 年 5 月 20 日。 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 策并组织实施的议案 累积投票议案 备注： 持表决权的三分之二以上通过； 议案 1： 良品铺子股份有限公司 董事会 2024 年度工作报告 各位股东及股东代表： 供相应担保并授权经理层办理的议案 则》等有关法律法规及公司制度的规定，本着对全体股东负责的精神，恪尽职守， 切实履行公司股东赋予的职责，勤勉尽责地开展各项工作，推动了公司持续、健 康、稳定的发展。现就 2024 年度工作情况报告如下： 一 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [5]. Core Views - The company is experiencing pressure on profits due to strategic adjustments, with a focus on lean management to improve efficiency [2][9]. - The introduction of new products is expected to drive revenue growth, particularly in the group buying segment, which saw a 19% increase in revenue [3]. - The company is actively optimizing its store model and reducing the number of underperforming stores to enhance profitability [3][9]. Financial Performance Summary - In 2024, the company reported total revenue of 7.159 billion yuan, a decrease of 11% year-on-year, with a net loss of 46 million yuan, a decline of 126% [1][11]. - The gross margin for 2024 and Q1 2025 decreased by 2 percentage points to 26.14% and 24.64%, respectively, primarily due to price reductions on certain products [2]. - The net profit margin also declined, with figures of -0.69% for 2024 and -2.10% for Q1 2025, attributed to reduced gross margins and increased asset impairments [2]. Earnings Forecast - The company is projected to launch a new brand focused on "natural healthy snacks" in 2024, which may initially pressure profits but is expected to perform well post-upgrade [4]. - Earnings per share (EPS) estimates for 2025-2027 are 0.06, 0.19, and 0.29 yuan, respectively, with corresponding price-to-earnings (PE) ratios of 198, 62, and 41 times [9][11].