Group 1 - The core viewpoint of the article highlights the collaboration between HLA (海澜之家) and adidas, focusing on the stable growth of the main brand and the exploration of new business opportunities [1] - HLA has initiated an adidas agency business in lower-tier markets through its subsidiary, with the number of adidas FCC stores expected to reach 529 by mid-2025 [1] - The partnership aims to enhance brand influence and channel competitiveness, positioning HLA as a key partner for adidas in expanding its presence in lower-tier markets [1] Group 2 - The company is actively pursuing a brand globalization strategy, with a target of 111 overseas stores in the medium term [1] - HLA is conducting market research in Central Asia, the Middle East, and Africa to steadily advance its global expansion efforts [1] - The company's dual-driven model consists of a "stable foundation + emerging growth points," which is expected to further strengthen its brand influence and channel competitiveness through the collaboration with adidas [1]

证券代码：603511 证券简称：爱慕股份 公告编号：2025-049 名 称：爱慕股份有限公司 类 型：其他股份有限公司（上市） 法定代表人：张荣明 注册资本：40,405.0612万元 成立日期：1981年10月13日 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。 爱慕股份有限公司（以下简称"公司"）于2025年10月28日召开的公司第三届董事会第十四次会议，2025 年11月18日召开的2025年第一次临时股东会，分别审议通过了《关于变更注册资本、修订＜公司章程＞ 及相关议事规则并办理变更登记的议案》。具体内容详见公司于2025年10月30日、2025年11月19日披露 于上海证券交易所网站（www.sse.com.cn）及指定媒体的《关于变更注册资本、取消监事会、修订＜公 司章程＞并办理变更登记及修订公司部分制度的公告》（公告编号：2025-041）、《2025年第一次临时 股东会决议公告》（公告编号：2025-044）。 近日，公司完成了上述事项的变更登记和《公司章程》的备案手续，并取得了北京市朝阳区市场监督管 理 ...

证券日报网讯 12月29日，南极电商在互动平台回答投资者提问时表示，公司百家好品牌整体追求高品 质的稳健发展，线上渠道按照既定目标拓展门店，抖音渠道做深做精核心女装品类，天猫渠道保持较快 增速，持续高质量拓店，在女装、内衣、箱包品类均有拓展；MindBridge品牌在天猫、抖音及唯品会渠 道实现门店0-1开拓。 （编辑 姚尧） ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future performance [15]. Core Insights - The textile and apparel sector has shown weaker performance compared to the overall market, with the SW textile and apparel index rising by 0.6%, lagging behind the SW All A index by 2.2 percentage points [3][4]. - The report highlights that the retail and wholesale sales of the company for FY26 Q3 have shown a high single-digit decline year-on-year, which aligns with expectations, while inventory levels remain healthy [10][13]. - The report anticipates a gradual recovery in domestic demand throughout 2026, with specific focus on high-performance outdoor apparel and discount retail segments [9][12]. Summary by Sections Textile Sector - The report recommends focusing on the Australian wool price cycle and the growth of non-woven fabrics, with a projected wool production of 244,700 tons for the 25/26 fiscal year, a decrease of 12.6% year-on-year [9]. - The demand side is expected to improve as downstream brands and manufacturers reduce inventory levels, leading to a replenishment demand [9]. - Companies like New Australia and Nobon are highlighted as beneficiaries of the rising wool prices and the growth in non-woven fabric products [9]. Apparel Sector - The company, Tabo, reported stable operational indicators for FY26 Q3, with a focus on improving retail capabilities and inventory management, while demand recovery is still awaited [10][11]. - Nike is expected to enhance product innovation and retail capabilities, with a cautious approach to inventory management for 2026, which is anticipated to positively impact the industry [11][14]. - The report suggests positioning in Bosideng for the winter season, as favorable weather conditions are expected to boost sales, alongside a potential recovery in the women's apparel segment [12][15]. Industry Data - From January to November, the total retail sales of clothing, shoes, and textiles reached 1,359.7 billion yuan, reflecting a year-on-year growth of 3.5% [25]. - In November, textile and apparel exports amounted to 23.87 billion USD, showing a year-on-year decline of 5.2%, with apparel exports down by 10.9% [32]. - Cotton prices have seen an increase, with the national cotton price index reported at 15,457 yuan per ton, up by 2.2% [33].

冬至已过，北方在持续降温，羽绒服成了近期消费者关注的重要服装品类。 今年的羽绒服市场，消费者感知，依然离不开一个"贵"字。700以上起步是常态，有点牌子的，两三千，上万。多个知名品牌的羽绒服价格已普遍进 入"2000元时代"。但消费者对高价羽绒服的态度变了。 据中国新闻周刊的报道，在北京SKP的专柜前，中产陈莉对着一件标价过万的高端羽绒服犹豫了足足十分钟。黄牛凑上来低声报出八三折的优惠，可她最 终还是摇了摇头转身离开。 回顾2023和2024年底，北京SKP、三里屯、国贸，成都太古里等地的Moncler门店销售都在社交平台晒出销售额破亿的消息。今年，类似的捷报却"静悄 悄"。 该品牌2025年第三季度营收同比下滑1%，Moncler连续九年的双位数高增长宣告终结。 天猫官方旗舰店中，曾经的王牌经典款，今年秋冬至今的评论数只有12条。 过去两年的冬天，这样的场景根本不可能出现，而今年，没有对比就没有伤害。 在过去，整个行业都在都在告诉你"500元以下买不到真羽绒服"，"700元以下都不纯。"真羽绒服必须得高价。 但现在，从山姆到胖东来，都在告诉你，500元以下也能买到真羽绒服。 当整个行业都在告诉你"500元以 ...

柳井正接受采访 2026年春季入职迅销的应届毕业生为480人。预计年收入将增加约10%，达到约590万日元（约合人民币 26.57万元）。无需搬家等工作调动的地区正式员工的薪酬也将从25.5万日元提高到28万日元（约合人民 币1.26万元）。迅销在2020年把21万日元的起薪提高到25.5万日元，到2025年增加到33万日元。6年内合 计上调16万日元。 在以高薪闻名的日本商社中，从大学毕业生起薪来看，三菱商事为34万日元，伊藤忠商事为36万日元。 在超大型银行之中，三菱UFJ银行和三井住友银行为30万日元，瑞穗银行为28万日元。在不动产行业， 三井不动产为32万日元，三菱地所为33万日元。 在劳动力短缺的情况下，大型广告企业CyberAgent的起薪定为42万日元，软件开发公司才望子 （Cybozu）定为40万日元。Open House Group也于12月19日宣布上调至40万日元。由于是采取年薪制， 这个金额包含了一次性奖金和固定加班费。 迅销提供的是除去津贴等的基本工资，不包括加班费和一次性奖金。在此次上调之后，迅销的起薪超过 了大部分日本国内大企业。尽管如此，柳井正仍表示"还是很低，今后会继续提高" ...

Core Viewpoint - The Chinese tax authorities have uncovered significant tax evasion among high-income individuals, including celebrities and internet influencers, with a total of 15.23 billion yuan in taxes recovered from 1,818 individuals from January to November this year, highlighting issues of tax fairness and public trust [1][6]. Group 1: Tax Evasion Cases - High-profile influencers and small online shops are frequently involved in tax evasion, with some cases revealing evasion amounts reaching millions [2][5]. - Notable cases include a popular influencer with 50 million followers who was fined over 8.29 million yuan for underreporting taxes by 16.59 million yuan [3]. - Other influencers, such as the couple "Xiaoying," faced penalties totaling 17.82 million yuan for tax violations, leading to account suspensions across multiple platforms [3][4]. Group 2: Common Evasion Tactics - Influencers often use personal accounts to receive payments, avoiding tax reporting through corporate channels, which is a widespread evasion method [7]. - Some high-income individuals register multiple shell companies to split income and lower tax rates, as seen in a case where a clothing store evaded 3.67 million yuan in taxes [8]. - Others misrepresent income types or submit false declarations to conceal actual earnings, as demonstrated by a car reviewer who reported significantly lower income than expected based on his popularity [9][10]. Group 3: Impact of Tax Evasion - Tax evasion undermines tax fairness and public resources, as it deprives the government of funds necessary for public services like education and healthcare [12]. - It disrupts market order by allowing non-compliant businesses to undercut legitimate competitors, potentially driving compliant businesses out of the market [13]. - The behavior of high-profile figures can send negative signals to the public, suggesting that tax evasion is acceptable, which could erode societal trust and encourage similar behavior among others [14]. Group 4: Consumer Precautions - Consumers can utilize platforms like Qichacha to verify the compliance and background of influencers and their associated businesses before making purchases [15]. - Key steps include checking the influencer's associated companies for compliance, assessing the legitimacy of their business operations, and monitoring any legal disputes or public sentiment regarding their products [16][19]. - This proactive approach can help consumers avoid potential pitfalls and support a healthier economic environment in the influencer industry [21].

记者昨天从市税务局获悉，今年1至11月，上海办理离境退税的境外旅客数量同比增长156.3%，退税商品销售额和退税额同比增长约80%。截至11月底， 上海新增离境退税商店超1000户，累计备案退税商店突破1700户，较去年底累计数翻番，退税服务网络覆盖广度与密度持续提升。 位于淮海路上的环贸iapm商场今年9月末开设"即买即退"集中退付点，为外籍游客提供一站式退税服务。"境外旅客购物后可直接前往1层退税柜台办理手 续，现场选择现金退税或兑付至本人信用卡，无需额外奔波。"上海环贸广场房地产有限公司有关负责人表示。 10月25日，波司登登峰旗舰店在南京东路启幕，开业即完成离境退税商店备案。波司登上海公司总经理高健庭介绍，冬季消费旺季带动门店客流持续走 高，较开业初期增幅明显。据统计，截至目前，店内境外顾客消费占比达13%，累计开具退税申请单684份，退税商品开票金额238万余元。 据了解，上海税务部门持续创新离境退税"即买即退"服务，目前已构建"9个全市退付点+17个集中退付点+N个单店退付点"组成的服务网络，实现"即买即 退"全域覆盖。 来源：文汇报 ...

来源：廊坊市安次区市场监管局 12月25日，河北廊坊市安次区市场监督管理局发布情况通报，全文如下： ...

面对消费者可能的询问或质疑，直播间商家早有准备。他们用"微脏""微瑕"的话术销售，只字不提二手 属性，仅以"样衣""尾货"解释来源。 记者将定位追踪器分别装入衣物和鞋子，投入铁岭市不同区域的两个旧衣回收箱。数日后，追踪器突然 显示，这些物品被运往60多公里外的一家玉米收储仓库。 进入库房，堆积如山的物品仅用破布随意裹覆，空气中弥漫着陈旧腐朽的气味，散落裸露的全是废旧衣 物。记者随手拿起几件，可见明显污渍与使用痕迹。 库房管理员坦言，此处实为旧衣分拣厂，专门回收各地二手旧衣物，厂里刚收到两车铁岭当地旧衣回收 箱运来的衣物，回收箱衣物被简称为"箱货"。 记者同样用安装追踪器的办法，在佳木斯、济南等地的旧衣分拣仓库，也进行了实地调查。这些旧衣回 收仓库的经营者都告诉记者，这些在城市小区里设置的"旧衣回收箱"，就是他们重要的收货来源之一。 甚至，为了骗取小区居民的这些旧衣服，在前端设置投放旧衣回收箱的人，还会给回收箱打上"公益捐 赠""爱心募捐"等字样，以提升旧衣物的回收量。 （来源：市场星报） 近期，不少消费者反映，有些主打"大牌尾货""孤品样衣"的直播间，其实是在偷偷售卖质量粗劣、货不 对板的商品，这些衣服不仅来 ...