Core Viewpoint - The company has signed a strategic cooperation agreement with Suzhou Nengsida Electronic Technology Co., Ltd. to jointly develop flexible electronic skin based on natural leather and bio-based materials [1] Group 1: Company Overview - The company focuses on the entire industry chain of natural leather, high-bio-based regenerated leather, and the development and application of environmentally friendly materials [1] - The collaboration aims to incubate flexible electronic skin products, enhancing the company's development in high-end new energy vehicle interior components, footwear, and luggage sectors [1] Group 2: Industry Implications - The partnership is expected to drive material innovation, providing downstream customers with more functional products [1] - The agreement is a framework document and will not have a significant impact on the company's current performance, but it is anticipated to positively influence the company's operating results in future years [1]

证券代码：603608 证券简称：天创时尚 公告编号：临2025-078 债券代码：113589 债券简称：天创转债 天创时尚股份有限公司2025年第一次临时股东大会决议公告 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。 注：上表中"公司有表决权股份总数"为已剔除无表决权的天创时尚股份有限公司回购专用证券账户的股 份数量。 (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长李林先生主持。会议采用现场投票与网络投票相结合的表决方 式。会议的召集、召开及表决方式符合《公司法》、《公司章程》及其它有关法律法规的规定。 重要内容提示： ● 本次会议是否有否决议案：无 (一)股东大会召开的时间：2025年9月16日 一、会议召开和出席情况 (二)股东大会召开的地点：广东省广州市南沙区东涌镇银沙大街31号天创时尚股份有限公司行政办公楼 三楼三号会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (五)公司董事、监事和董事会秘书的出席情况 1、公司在任 ...

Core Viewpoint - The U.S. government has imposed a 50% tariff on goods imported from India, significantly impacting the Indian economy and its exporters [1] Group 1: Economic Impact - The tariff increase places India in the highest tax rate bracket alongside Brazil, making Indian goods approximately 30% more expensive overnight [1] - Exports worth around 420 billion rupees, including gems, engineering products, textiles, seafood, and leather, are affected, potentially reducing India's economic growth by 0.5 to 1 percentage points [1] - A large number of workers are at risk of unemployment due to the tariff [1] Group 2: Industry Response - Exporters are forced to lower prices or extend credit, leading to tight cash flow, particularly affecting small and medium-sized enterprises [1] - The industry is calling for the Indian government to extend interest subsidies, restart market development funds, and accelerate free trade negotiations with countries like Japan, the UK, Australia, and the EU [1] Group 3: Economic Recommendations - Economists suggest short-term subsidies to maintain orders, mid-term strategies to diversify markets, and long-term reforms in land and labor to enhance competitiveness [1]

Group 1 - The core viewpoint of the article highlights the current state and trends in the leather industry in China, as analyzed in the report by Zhiyan Consulting [1] - As of January to July 2025, the number of enterprises in the leather, fur, feather, and footwear industries has decreased by 44 compared to the same period last year, representing a year-on-year decline of 0.5% [1] - The total number of enterprises in these sectors stands at 8,728, accounting for 1.68% of the total industrial enterprises [1] Group 2 - The report indicates that the threshold for large-scale industrial enterprises has been raised from an annual main business income of 5 million to 20 million yuan since 2011 [1] - Zhiyan Consulting is recognized as a leading industry consulting firm in China, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1] - The firm emphasizes its commitment to delivering high-quality services and market insights to empower investment decisions [1]

Group 1 - A new company, Xuzhou Sunniu Leather Co., Ltd., has been established with a registered capital of 3 million RMB [1] - The legal representative of the company is Xu Baoqian [1] - The company's business scope includes various activities such as leather tanning and processing, leather product manufacturing and sales, and livestock slaughtering, among others [1] Group 2 - The company is involved in both licensed and general projects, indicating a diverse operational focus [1] - Specific services offered include urban delivery transportation, leather and fur processing, and sales of specialized chemical products [1] - The company also engages in technology services, development, consulting, and sales of ecological materials and various goods [1]

Group 1 - The establishment of Zaoqiang Huijiu Fur Co., Ltd. has been registered with a legal representative named Guo Jianliang [1] - The registered capital of the company is 100,000 RMB [1] - The business scope includes general projects such as clothing manufacturing, fur product processing, and various retail activities [1] Group 2 - The company is involved in the wholesale of clothing and accessories, as well as the sale of bags, hats, home goods, daily necessities, toys, and arts and crafts [1] - The company is authorized to conduct import and export activities, except for projects that require approval [1]

Group 1 - The core viewpoint of the article highlights the growing trade cooperation between Zhejiang and Middle Eastern countries, with a focus on the signing of five foreign trade export projects totaling $105 million, covering sectors such as photovoltaics, textiles, and machinery [1][2] - The trade volume between Zhejiang and Middle Eastern countries reached $83.1 billion in 2024, accounting for 18.45% of China's total trade with the region, with a year-on-year growth of 4.3% in the first half of 2023 [2] - A new service alliance named "Jiaxing Enterprises Going Abroad New Silk Road (Middle East)" was established to provide one-stop services for local companies, facilitating the export of Jiaxing's key industries [2] Group 2 - The event attracted over 300 participants from Middle Eastern business institutions, trade associations, and Zhejiang export service organizations, indicating strong interest in bilateral trade [2] - Notable representatives from countries like Egypt, Dubai, and Jordan emphasized the potential for collaboration in various sectors, including energy and information technology [2] - The establishment of the Haining Chaolai Cross-Border Trade Center aims to support local enterprises in their international expansion efforts [2]

Core Viewpoint - The leather, fur, feather, and footwear industry in China is experiencing a decline in export value, with a notable decrease in 2025 compared to previous years [1] Industry Summary - In April 2025, the total export value of the leather, fur, feather, and footwear industry reached 14.7 billion yuan, reflecting a year-on-year decrease of 5.3% [1] - From January to April 2025, the cumulative export value for the same industry was 58.09 billion yuan, showing a slight year-on-year decline of 1.7% [1] - A statistical chart from 2019 to April 2025 illustrates the export value trends in the leather, fur, feather, and footwear industry [1] Company Summary - Listed companies in the leather and fashion sector include Wanlima (300591), Zhongyin Fashion (300901), Henghui Security (300952), ST Aokang (603001), Red Dragonfly (603116), ST Qibu (603557), Jian Sheng Group (603558), Tian Chuang Fashion (603608), Kanglongda (603665), Mugaodi (603908), Hassen Co. (603958), and Yangzhou Jinqiu (603307) [1]

Core Insights - The 2025 "Modern China" International Footwear, Bag, and Apparel Fashion Exhibition was held in Shanghai, serving as a significant platform for trade negotiations and showcasing the strength of China's leather industry [1][2] Group 1: Exhibition Overview - The exhibition covered an area of approximately 20,000 square meters, featuring over 260 industry leaders and excellent enterprises from countries such as Poland and Finland [1] - Various industrial clusters from China, including Haining, Xinjie, and Wenzhou, showcased their collective strength in manufacturing [1] Group 2: Cultural and Historical Significance - Renowned Chinese leather brands, such as Neiliansheng and Shanghai Shoe Factory, highlighted their craftsmanship and modern design, appealing to younger consumers [2] - The exhibition included significant cultural artifacts from shoe museums, showcasing the historical evolution of Chinese shoemaking [2] Group 3: Business Development Initiatives - The event organized activities aimed at opening international markets for quality manufacturers, including a session on UN procurement opportunities [3] - A promotional meeting for Huilema showcased the application of AI and industry internet technologies to address traditional challenges in the footwear sector [3] Group 4: E-commerce Strategies - Major e-commerce platforms like Xiaohongshu, Taobao, and JD.com presented targeted support policies and market insights to assist leather fashion enterprises in expanding their reach [4] - Each platform outlined clear strategies to facilitate domestic sales and international expansion for manufacturers [4]

Group 1 - India is perceived as both undervalued and overvalued, with significant potential for development following China due to demographic dividends, market prospects, and geopolitical factors [1] - The Indian stock market reached a peak of 84,000 points on June 22, 2025, but subsequently underperformed, with the Bombay 30 Index down 3.39% year-to-date as of September 8, 2025, lagging behind other markets by nearly 20% [5][8] - The Indian rupee depreciated nearly 3% against the dollar and over 5% against the yuan in 2025, marking it as one of the weakest currencies among major economies [12] Group 2 - A significant decline in foreign direct investment (FDI) was reported, with net FDI dropping 96.5% in the fiscal year 2025, from $10 billion to just $353 million, a historical low [19] - Despite an overall increase in foreign investment totaling $81 billion, the outflow of $49 billion from foreign investors was noted, with a withdrawal rate approaching 20% [21] - Indian companies are increasingly investing abroad, with outbound investments reaching $29 billion in the fiscal year 2025, up from $17 billion in 2024 [23] Group 3 - The U.S. government's changing stance, including potential tariffs of 50% on Indian goods, could reduce India's GDP growth to below 6% [31] - The manufacturing sector in India has been declining, with its GDP share falling to 12.5% in 2024, the lowest since 1967 [64] - The Indian manufacturing industry faces challenges in competitiveness due to high import tariffs on intermediate goods, which inflate local production costs [92] Group 4 - The IT services sector in India is experiencing significant job losses due to the rise of AI, with estimates suggesting that around 200,000 IT jobs were lost in the past year, potentially rising to 300,000 by 2025 [112] - The Indian stock market's IT sector has been the worst performer, reflecting the broader challenges faced by the industry [113] - The relationship between population and productivity in India is shifting, with the potential for a demographic burden rather than a demographic dividend [114]