此次改革还通过"进境口岸+属地"分段监管模式，实现物流的高效协同，钦州港海关负责口岸检查，贵 港海关承接目的地查验，地方政府保障运输应急，形成"40分钟口岸查验、4小时运抵目的地、1日完成 通关"的监管链条。 中新网南宁7月12日电 7月12日，广西壮族自治区商务厅介绍，为助力广西建设国际羽绒加工贸易中 心，中国(广西)自由贸易试验区携手南宁海关，推出全国首创的进口非疫区水洗羽毛羽绒分段监管快速 通关新模式，有效激发产业集聚发展活力。 羽绒产业是广西传统优势产业，广西企业每年需要从泰国等国家进口大量原材料，但在传统监管模式 下，进口水洗羽毛羽绒需经上海、宁波等口岸清关后陆运至广西，或绕道香港转西江水运抵达广西，物 流耗时长，严重制约产业发展。 2024年，中国海关总署批复广西开展改革试点，并实现全国首票18.5吨进口水洗羽毛羽绒在广西钦州港 口岸快速通关。 上述改革实施后，进口水洗羽毛羽绒通过钦州港口岸进境直达广西，物流距离缩短约1500公里，整体通 关时间压缩70%。其中，首票泰国进口货物仅用8天时间，便实现"港到厂"无缝衔接。 下一步，广西自贸试验区将深化改革，扩大试点企业范围，优化跨境贸易生态链，推动羽 ...

Investment Rating - The investment rating for the company is "Buy" [37] Core Views - The company, Guqi Down Material, focuses on the research, production, and sales of high-specification down products, primarily goose and duck down, used in clothing and bedding [29][7] - The company has established a strong customer base, including leading brands in the down clothing and bedding sectors, and has been recognized as a key player in the domestic down processing industry [30][29] - The company is expected to benefit from the growing demand in military applications for down products, as well as the overall growth in the down clothing and bedding markets due to rising consumer income and preferences [31][27] Summary by Sections Basic Financial Status - The company achieved revenues of 667.2 million yuan, 830.4 million yuan, and 966.7 million yuan for the years 2022, 2023, and 2024, respectively, with year-over-year growth rates of 11.99%, 24.46%, and 16.42% [4][8] - The net profit attributable to the parent company was 97 million yuan, 121.8 million yuan, and 168.2 million yuan for the same years, with year-over-year growth rates of 26.30%, 25.53%, and 38.11% [4][8] - For the first quarter of 2025, the company reported revenues of 193 million yuan, an increase of 18.53% year-over-year [8] Industry Situation - The down products market is large and mature, with a significant number of well-known enterprises ensuring stable demand growth [17] - The domestic down clothing market has a high concentration of brands, with a market potential driven by consumption upgrades and a growing middle class [18][23] - The down bedding market has substantial growth potential, with low current penetration rates compared to developed countries [27] Company Highlights - The company is a leader in the down materials sector in China, focusing on the mid-to-high-end market and maintaining a strong customer base [29][30] - The company has expanded its product applications to military needs, which is expected to provide new growth opportunities [31] - The company has received various accolades, including recognition as an excellent enterprise in the down industry [7][29] Fundraising Project Investment - The company plans to invest in two projects through its IPO, including a functional down manufacturing project and an upgrade of its technology and R&D center [32][33] - The total investment for these projects is approximately 50.1 million yuan [32] Peer Comparison - In comparison to similar companies, Guqi Down Material's revenue for 2024 is projected at 966.7 million yuan, with a net profit of 168.2 million yuan, indicating a strong growth trajectory [35][34] - The average revenue of comparable companies is 2.728 billion yuan, with an average PE-TTM of 22.20X, while Guqi's gross margin is positioned in the mid-to-high range among peers [34][35]

以下文章来源于东四十条资本 ，作者黎曼 东四十条资本 . 聚焦股权投资行业人物、事件、数据、研究、政策解读，提供专业视角和深度洞见 | 创投圈有趣的灵魂 将投中网设为"星标⭐"，第一时间收获最新推送 一年营收近10亿。 作者丨黎曼 随着波司登、海澜之家、森马、鸭鸭等知名羽绒服品牌的销量上涨，隐藏在这些品牌背后的供应商也要IPO了。 在羽绒行业的江湖中，谢玉成父女的名字正成为一段传奇。 2012年，以安徽"羽绒之乡"为基点，谢玉成父女凭借对高规格羽绒技术的深耕，将"古麒绒材"，一家地方小厂打造为年营收近 10亿元的行业龙头，并在近期再度冲刺深交所主板。 从最初的鹅绒、鸭绒加工到如今手握海澜之家、波司登等头部品牌订单，谢玉成在10余年间编织了一张横跨服装与寝具的羽绒 版图。 从"羽绒之乡"走出的家族企业 上世纪70年代末，安徽无为的羽绒产业还处于空白状态，部分人从事鹅毛、鸭毛的收购和贩卖工作。80年代初，受苏浙沪地区 商人收购羽毛的启发，当地人开始涉足羽毛羽绒加工。随着加工技术的推广和返乡创业人员的增多，家庭作坊如雨后春笋般涌 现，逐渐形成了产业集聚效应，无为也逐渐成为全国羽毛羽绒贸易集散中心，成为"中国羽毛羽绒 ...