Core Viewpoint - Shanghai Jahwa United Co., Ltd. announced a change in its securities affairs representative, with Mr. Lu Di resigning for personal career development reasons and Ms. Su Xiaoqing appointed as the new representative [1][2]. Group 1: Resignation and Appointment - Mr. Lu Di submitted his resignation as the company's securities affairs representative, effective upon delivery to the board of directors [1]. - The board expressed gratitude for Mr. Lu's contributions during his tenure [1]. - Ms. Su Xiaoqing has been appointed as the new securities affairs representative, with her term aligned with the current board's term [1]. Group 2: Qualifications of New Representative - Ms. Su Xiaoqing holds a bachelor's degree and has previously served as an investment manager and investment director at Shanghai Jahwa [3]. - She currently holds the position of director of the board office, possessing the necessary professional knowledge and experience to fulfill the role of securities affairs representative [1][3]. Group 3: Contact Information - The contact details for the new securities affairs representative are provided, including the address, phone number, and email [1].

Core Viewpoint - Shanghai Jahwa reported its first loss since going public in 2024, but turned profitable in Q1 2025 with revenue of 1.704 billion yuan and a net profit of approximately 217 million yuan, indicating a recovery and a focus on growth moving forward [2][3]. Financial Performance - In 2024, Shanghai Jahwa achieved revenue of 5.679 billion yuan, a year-on-year decrease of 13.93%, and a net profit of -804 million yuan, a decline of 260.72% [2][3]. - For Q1 2025, the company reported revenue of 1.704 billion yuan, a year-on-year decrease of approximately 10.6%, while net profit was around 217 million yuan [3][4]. Business Strategy and Adjustments - The decline in performance was primarily attributed to goodwill impairment related to the acquisition of the UK baby brand Tommee Tippee, which faced challenges due to low birth rates and increased competition [3]. - The company is undergoing strategic adjustments, including inventory reduction in department stores and transitioning from distributor to self-operated e-commerce channels [4][5]. Online and Offline Business Development - Online business revenue grew by 10.4% year-on-year in Q1 2025, with online sales accounting for a 5.5% increase in proportion [4]. - The company expanded its new retail channels, opening 38,000 new stores in Q1, with sales in emerging channels experiencing double-digit growth [5]. Brand Strategy - Shanghai Jahwa is focusing on core brand development through a "four focus strategy," which includes concentrating on brand building, online presence, and operational efficiency [6]. - Brands are categorized into three tiers: first-tier brands (Liushen and Yuze) are positioned as market leaders, second-tier brands (Baicaojie and Meijiajing) require clearer positioning, and third-tier brands are seen as having potential but need innovative strategies [6][7]. Pricing and Product Strategy - The company has made price adjustments for certain products, such as the Baicaojie Taiji line, to improve conversion rates without affecting gross margins [7]. - Inventory clearance and SKU optimization were implemented to address old stock issues, with plans to further compress SKUs in the new fiscal year [7].

Financial Performance - The company reported a significant decline in basic earnings per share, dropping to -0.2000 yuan in Q1 2025 from -0.0300 yuan in Q1 2024, representing a decrease of 566.67% [1] - Net profit for Q1 2025 was -0.2 billion yuan, compared to -0.03 billion yuan in Q1 2024, indicating a substantial loss [1] - The return on equity (ROE) fell to -2.15% in Q1 2025 from -0.29% in Q1 2024, reflecting a decline of 641.38% [1] - Operating revenue increased to 2.19 billion yuan in Q1 2025, up 7.88% from 2.03 billion yuan in Q1 2024 [1] Shareholder Information - The top ten unrestricted shareholders collectively hold 24.2534 million shares, accounting for 41.21% of the circulating shares, with a decrease of 467,500 shares compared to the previous period [2] - The largest shareholder, Zeng Bensheng, holds 13.9846 million shares, representing 23.76% of the total share capital, with no change in holdings [2] - Shanghai Huiying Investment Partnership holds 3.0721 million shares, which is 5.22% of the total, showing a decrease of 46.75 thousand shares [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]

Group 1 - The company's stock experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over three consecutive trading days from April 1 to April 3, 2025 [1][2][3] - The company conducted a self-examination and confirmed that its operational status is normal, with no significant changes in the market environment, main business, or business model [1][2] - There are no undisclosed major events or information that could significantly impact the stock price, including major asset restructuring, share issuance, or significant business cooperation [2][3] Group 2 - The board of directors confirmed that there are no undisclosed major matters or related plans that should be disclosed according to the Shanghai Stock Exchange regulations [3] - The company urges investors to be cautious and make rational investment decisions in light of the recent stock price volatility [2][3]