Group 1 - The core issue highlighted is the inconsistency in the financial disclosures of Jiama Clothing, particularly regarding the opening date of its highest revenue store, which is listed as May 15, 2025, in the 2024 annual report [1][6][8] - Jiama Clothing's main business includes the research, design, brand operation, and sales of children's clothing, with a total of 176 direct stores as of the end of 2024, of which 103 have been operating for over 12 months [2][8] - The highest revenue store generated an income of 6.54 million yuan, significantly surpassing other stores, raising questions about the accuracy of the reported data [2][3][5] Group 2 - Jiama Clothing's financial performance has been stagnant since its IPO in 2022, with net profits of 166 million yuan, 180 million yuan, and 171 million yuan from 2022 to 2024, reflecting year-on-year growth rates of -14.86%, 8.55%, and -4.84% respectively [8][9] - The company's stock price has been in a prolonged decline, with a significant drop of 41% from its IPO price of 40.66 yuan to a closing price of 23.98 yuan as of June 11 [8][9] - Despite having substantial cash reserves totaling 1.18 billion yuan, which is 56.54% of its net assets, Jiama Clothing has not initiated any share buyback plans to support its stock price [8][9][10]

5月20日，中国与东盟十国宣布全面完成中国—东盟自贸区3.0版谈判，向签署升级议定书迈出关键一 步。 中国与东盟是命运与共的好邻居、好朋友、好伙伴。今年前4个月，东盟继续稳居中国第一大贸易伙伴 地位，贸易总值为2.38万亿元，增长9.2%，占中国外贸总值的16.8%。2024年，中国与东盟贸易总值达 到6.99万亿元，增长9.0%，占中国外贸总值的15.9%。目前，东盟已连续5年成为中国最大贸易伙伴，中 国连续16年保持东盟第一大贸易伙伴地位。 中国企业抢抓"东盟机遇" "除客户外，税收协定待遇、地理距离、相关国家对外商投资政策也是我们重点考虑的因素。"周永冲 说，"中越双边税收协定让企业在越南投资经营的税收确定性得以保障，这对我们具有吸引力。" 据了解，近年来我国持续扩大和完善税收协定网络，截至2025年4月，税收协定网络覆盖114个国家(地 区)，包括东盟10国中的9国(除缅甸外)。2024年，全国税务部门累计为投资东盟国家"走出去"纳税人开 具了6000余份税收居民身份证明，协助纳税人享受税收协定待遇。 数据显示，2023年中国对东盟直接投资251.2亿美元，同比增长34.7%，在东盟设立直接投资企业超 ...

Core Viewpoint - Anniel is actively planning a change in control, which may be a strategic decision by the founder after a four-year performance decline due to a sluggish market environment [1] Group 1: Company Situation - Anniel, known as the "first stock of children's clothing" in A-shares, has experienced a significant downturn since 2020, marking a turning point in its trajectory [1] - The company is seen as a "temporary dilemma" type according to Peter Lynch, where the market tends to assume that short-term issues will persist long-term [2] - Despite challenges, Anniel maintains its core brand value and market foundation, showcasing resilience in the face of industry reshuffling and changing consumer habits [3] Group 2: Strategic Initiatives - Anniel has introduced innovative products like the anti-virus and anti-bacterial "Anxin Yi" and the comfort-focused "Chao Shu Yi," aligning with market demands post-pandemic [2] - The launch of these products represents a strategic shift from traditional children's clothing to a more functional and technology-driven approach [2] - The upcoming change in control may present new opportunities for the company, potentially leading to a significant transformation under new leadership [3]

经济观察报记者 邹永勤 2025年6月10日，此前因筹划控制权变更而停牌5个交易日的深圳市安奈儿（002875）股份有限公司 （002875.SZ，下称"安奈儿"）发布公告，披露了此次股权变更事项的细节，并复牌交易。 记者在走廊处向一位工作人员咨询，得到的回复是她们也不清楚2305-12房在哪里，并建议记者到一楼 物业处了解情况。随后记者来到一楼大堂前台进行咨询，接待的工作人员表示，对于业主如何分隔其房 产，他们并不十分清楚，在2305房名下也确实登记有多家公司，但并没有新创源这家公司的名字。 就此，记者以投资者身份致电安奈儿董秘办公室进行咨询，接电话的工作人员直言，新创源这个主体是 对方为了承接公司实控人转让的股份而成立的公司，"就是为了这次交易特别成立的一家有限合伙企 业"。 资本老玩家黄涛 公告显示，安奈儿创始人曹璋、王建青夫妇日前与深圳新创源投资合伙企业（有限合伙）（以下简 称"新创源"）签署了《股份转让协议》；若股份转让事项完成，新创源将成为安奈儿的控股股东，世纪 金源投资集团有限公司（下称"世纪金源"）执行董事、集团总裁黄涛将成为公司新的实际控制人。 值得注意的是，公告强调称，新创源暂无向安奈儿注 ...

大型民企世纪金源总裁黄涛将成为安奈儿新实控人。6月9日，安奈儿发布关于控股股东、实际控制人签 署《股份转让协议》《表决权放弃协议》暨公司控制权拟发生变更的提示性公告，披露上述信息。 安奈儿是国内较早创立的童装品牌之一，其前身可追溯至曹璋、王建青夫妇在1996年创办的"安尼尔童 装店"。2017年，安奈儿于深交所中小板上市，成为国内A股童装第一股。 安奈儿上市前三年业绩均取得增长，然而，2020年以来，公司业绩颓势明显，营收连续5年下滑，净利 润也连续5年亏损。 2022年以来，安奈儿开始多次尝试对外投资、跨界收购，试图改善公司盈利能力，但这些努力并未收获 成效，2024年安奈儿营收6.39元，较2019年13.27亿元腰斩，净利润录得亏损1.16亿元，5年累计亏损5.05 亿元。多笔收购最终也未能成行，安奈儿也两度因相关信披问题受罚。2025年一季报显示，安奈儿业绩 并未有好转，营收1.44亿元，同比下滑27.28%，归母净利亏损833.33万元。在这样的背景下，曹彰、王 建青夫妇选择转让这家自己亲手创办企业的控制权。 公告披露，新创源实际控制人即黄涛，他同时也是世纪金源投资集团有限公司的执行董事、集团总裁。 ...

6月以来，多家上市公司将控制权变更事宜提上日程。控制权变更作为上市公司战略升级的重要契机， 往往能为企业带来多重价值提升，帮助企业完成"新股东赋能-经营改善-价值重估"的正向循环逻辑。此 次交易若能顺利达成，有望帮助安奈儿突破当前的发展困境，为品牌的长远发展注入新的活力，重塑童 装行业标杆。 本文内容仅供参考，不作为任何投资建议。 安奈儿筹划控制权转让一事有了实质性进展。6月9日晚间，根据安奈儿最新公告，交易双方通过"股权 转让+放弃表决权+承诺不谋求控制权+受让方二级市场增持"4套组合拳方式，将控制权置于一个稳固的 位置，为上市公司的长期稳定和战略发展提供前所未有的坚实保障。 实控人曹璋、王建青合计持股27.38%，其中曹璋持股19.13%，王建青持股8.25%。此次股权转让的方案 设计，已在法律法规允许的范围内做了最大程度的让渡。曹璋因担任公司董事长，根据减持新规只能转 让25%，即4.78%，加上王建青的全部股权8.25%，合计最多转让13.03%。尽管如此，转让之后曹璋仍 剩余14.35%的股份，高于受让方，仍为第一大股东，故签订《表决权放弃协议》和《不谋求控制权承 诺函》，通过放弃剩余股份的表决权和 ...

聚焦安奈儿的基本面，公司自上市以来，控制权稳定，童装业务基本盘稳固，670家门店构成渠道壁 垒，为新控股股东提供了优质"改造土壤"。业内专家表示，新控股股东无须重建商业模式，通过资源嫁 接即可优化运营，市场对公司扭亏周期持乐观预期。 展望未来，随着新创源资本与产业资源的深度注入，安奈儿有望在产业协同、市场拓展、技术研发、供 应链优化及资金支持等关键领域获得强力赋能，为突破发展瓶颈筑牢根基。 据了解，取得控制权后，新创源下一步将改组董事会、管理层。根据协议，股份交割完成后1个月内， 新创源将提名3名非独立候选人、3名独立董事候选人，并推荐关键管理层岗位总经理和财务总监人选， 通过三会一层的系统性改造实现战略落地。 公告显示，控制权变更后，安奈儿实控人将变更为黄涛。公开资料显示，黄涛执掌的世纪金源成立于 1991年，业务覆盖地产开发、商业运营、大健康等领域，形成"大消费、大文旅、大健康、新科技"四大 主航道，连续多年入选"中国企业500强"。其旗下儿童产业布局尤为突出，拥有"童兜天地""奇趣家"等 多个体验式品牌，这些品牌与商业、文旅板块深度整合，成为国内儿童商业新模式引领者。 安奈儿深耕童装近30年，拥有"AN ...

Core Viewpoint - Anner's major shareholder and actual controller are changing, with Shenzhen Xinchuangyuan Investment Partnership acquiring significant stakes from the founders, marking a pivotal shift in the company's ownership structure [1][3]. Group 1: Shareholder Changes - On June 9, Anner announced that its controlling shareholder would become Shenzhen Xinchuangyuan Investment Partnership, with Huang Tao as the new actual controller [1]. - Founders Cao Zhang and Wang Jianqing signed a share transfer agreement to sell 4.78% and 8.25% of their shares at a price of 15.21 yuan per share, totaling 422 million yuan [1]. - Following the transfer, Cao Zhang voluntarily relinquished voting rights for the remaining 14.35% of shares, effectively exiting the company's core operations [1]. Group 2: Financial Performance - Anner, once known as the "first children's clothing stock" in A-shares, has faced significant challenges since its IPO in 2017, with revenue plummeting from 1.327 billion yuan in 2019 to 639 million yuan in 2024, resulting in cumulative losses of 505 million yuan over five years [1]. - The number of Anner's stores has halved, indicating a shrinking market presence amid competition from brands like Semir's Balabala and Anta Children's [1]. Group 3: Market Reactions - The stock price of Anner showed a notable increase prior to the announcement of the ownership change, with a cumulative rise of 17.69% from May 28 to May 30, 2024 [3]. - On May 30, the stock reached a closing price of 16.90 yuan per share, reflecting a 10.03% increase and a total market capitalization of 3.6 billion yuan [3]. Group 4: Historical Context - Anner's journey from a small shop in Huaqiangbei to a publicly listed company valued at 3.6 billion yuan illustrates its initial commercial success, but the company has lost its way amid capital market challenges [3].

Core Viewpoint - Anner's controlling shareholder has changed to Shenzhen Xinchuangyuan Investment Partnership, with Huang Tao as the new actual controller, marking a significant shift in the company's ownership structure [1][3]. Group 1: Ownership Changes - The transfer involved the sale of 13.03% equity for 422 million yuan, with the previous controlling shareholders, Cao Zhang and Wang Jianqing, relinquishing their voting rights on an additional 14.35% of shares [3][11]. - This transaction concludes Anner's eight-year journey as a publicly listed company, with the stock experiencing a significant drop upon resumption of trading, falling nearly 4% to 16.29 yuan per share, resulting in a total market capitalization of 3.47 billion yuan [3][12]. Group 2: Financial Performance and Historical Context - Anner, once celebrated as the "first children's clothing stock" in A-shares, has faced declining financial performance, with net profit dropping by 27% in 2017, signaling the beginning of a five-year period of losses totaling over 500 million yuan [5][6]. - The company's revenue has halved from 1.327 billion yuan in 2019 to 639 million yuan in 2024, alongside a reduction in the number of stores from over 800 to 670 [6][12]. Group 3: Market Reactions and Future Prospects - Despite the challenges, Anner's stock price saw temporary boosts due to speculative trading around concepts like "antiviral fabrics" and AI, although these initiatives ultimately did not contribute significantly to revenue [8][10]. - The new owner, Huang Tao, is a notable figure in the capital market, and the market is now observing whether he can revitalize Anner amidst ongoing operational difficulties and a shrinking market presence [10][12].

【导读】安奈儿拟易主新创源，后者实控人掌控世纪金源集团 中国基金报记者邱德坤 上述交易存在多个巧合之处。新创源成立于5月27日，而安奈儿在5月30日突然涨停，并于6月3日开市起停牌。 记者经过长期跟踪采访发现，黄涛系世纪金源投资集团有限公司（以下简称世纪金源集团）实控人，此前参与争夺皖通科技控制权引发市场关注。 世纪金源集团实控人拟入主 公告显示，6月9日，安奈儿控股股东、实控人曹璋、王建青与新创源签署《股份转让协议》。曹璋、王建青拟分别向新创源转让安奈儿4.78%、8.25% 的股份，股份转让价格为15.21元/股，转让价款合计达4.22亿元。 6月9日晚间，安奈儿公告称，公司控股股东将变为深圳新创源投资合伙企业（有限合伙）（以下简称新创源），实控人将变为黄涛。公司将于6月10日 开市起复牌。 同时，曹璋与新创源签署的《表决权放弃协议》显示，曹璋自愿、无条件且不可撤销地放弃剩余所持安奈儿14.35%股份对应的表决权，自《股份转让 协议》约定的标的股份交割完成之日起，至不再持有任何剩余股份之日止。 | 控股股东、实际控制人曹璋先生、王建青女士保证向本公司提供的信息内容 | | --- | | 真实、准确、完整 ...