证券代码：300729 证券简称：乐歌股份 乐歌人体工学科技股份有限公司 投资者调研接待记录表 编号：2025-004TZZ 投资者关系活动 类别 特定对象调研 □分析师会议 □媒体采访 业绩说明会 新闻发布会 □路演活动 现场参观 其他（请文字说明） 电话会议 参与单位名称及 人员姓名 具体参与单位人员见附件 时间 2025 年 8 月 27 日（周三） 10:30-11:30 地点 宁波市鄞州区首南街道学士路 436 号乐歌大厦 上市公司接待人 员姓名 董事会秘书：虞浩英 证券事务代表：瞿奇龙 投资者关系活动 主要内容介绍 投资者提出的问题及公司回复情况： 1. 请介绍下基于目前的贸易环境和消费市场情况，公司对于海外 仓业务的展望和布局。 公司海外仓不仅承载着自身跨境电商业务的货量，也承载着合作 伙伴的信任。每一位客户托付的货物，叠加在一起，形成了如今数以 千万计的出库规模。公司的海外仓业务在仓库耗材、仓库叉车设备和 货架规模化采购、目的港拖车、卸柜，以及尾程发货数量规模上的优 势，使得公司获得更好的议价能力和价格优势，在当下大多数海外仓 企业经营困难且行业竞争激烈趋于集中化的背景下，公司海外仓业务 始终 ...

Group 1 - The core viewpoint highlights the transformation of traditional furniture companies towards smart and health-oriented products, exemplified by Yongyi Furniture's ergonomic chairs and smart desks, which are gaining traction in the Latin American market [2] - Yongyi Furniture's exports to the Latin American market have increased by 19.3% this year, with an expected additional growth of 10% in the second half of the year [2] - The company benefits from favorable origin policies under customs guidance, enhancing its competitive edge in international markets [2] Group 2 - Geek Garden Furniture focuses on innovative products in the functional sofa segment, such as an electric sofa that assists users in standing up, which has gained popularity in the European market [3] - The company has shipped over 200 containers of its products abroad in the first half of the year, with a total value of nearly 20 million yuan [3] - Hangzhou Customs supports Chinese smart furniture companies in entering international markets by providing targeted policy guidance and ensuring they fully benefit from tariff reductions under free trade agreements [3]

Group 1: Anhui Province - Anhui's total import and export value reached 458.54 billion yuan, a year-on-year increase of 15.2%, ranking sixth nationally and first in the Yangtze River Delta [3] - Exports of mechanical and electrical products amounted to 222.91 billion yuan, growing by 18.5%, accounting for 71.9% of the province's total exports [3] - Exports of "new three samples" (new energy vehicles, lithium batteries, photovoltaic products) reached 37.13 billion yuan, increasing by 67.8%, highlighting Anhui's leading position in the green low-carbon sector [3] - Anhui's exports of self-owned brand products were 155.98 billion yuan, up 9.1%, making up 50.3% of total exports, indicating a focus on brand building [4] - Trade with Belt and Road countries reached 248.49 billion yuan, a growth of 14.9%, accounting for 54.2% of total trade, showing success in expanding emerging markets [5] - The comprehensive bonded zone in Anhui saw imports and exports of 79.45 billion yuan, a year-on-year increase of 31.6%, contributing significantly to the province's foreign trade growth [5] Group 2: Zhejiang Province - Zhejiang's total import and export value reached 2.73 trillion yuan, a year-on-year increase of 6.6%, with exports surpassing 2 trillion yuan for the first time [6] - The province contributed 19.8% to national export growth, ranking first in the country, due to deep engagement in emerging markets and global supply chain layout [6] - Exports to the EU, ASEAN, Latin America, the Middle East, and Africa grew significantly, effectively compensating for reduced exports to the US [7] - Companies in Zhejiang are diversifying risks through "supply chain going abroad," enhancing flexibility and responsiveness [8] Group 3: Jiangsu Province - Jiangsu's total import and export value reached 2.81 trillion yuan, a year-on-year increase of 5.2%, accounting for 12.9% of the national total [9] - The province's trade structure optimization reflects a shift towards high-quality development, with general trade and processing trade both contributing significantly [10] - High-end market innovations, such as adjustable garden umbrellas, are meeting the demands of markets like the US, supporting sustained growth [11] - Foreign-invested enterprises in Jiangsu had an import and export value of 1.32 trillion yuan, growing by 5.8%, highlighting the province's attractiveness to foreign investment [12]

Core Viewpoint - The home furnishing industry in China is experiencing a new wave of IPOs despite an overall decline in market performance, indicating a potential transformation for companies amidst dual pressures of industry downturn and the need for digital transformation [1][6][8]. Group 1: IPO Activity - Over 10 home furnishing companies have entered the IPO queue in 2024, covering various segments such as furniture manufacturing, smart home, and home decoration services [1]. - Companies like Rose Island and Han Gao Group are actively pursuing IPOs, with Rose Island aiming for the Beijing Stock Exchange and Han Gao Group updating its prospectus for the Shenzhen Stock Exchange [3][4]. - Rose Island reported a 27.47% decline in net profit for 2024 but achieved a 6.1% revenue growth, while Han Gao Group saw a 26.75% revenue increase and a 40.31% net profit growth in Q1 2025 [3][4]. Group 2: Industry Performance - The overall sales revenue of large-scale building materials and home furnishing markets in China is projected to be 1.49 trillion yuan in 2024, reflecting a 3.85% year-on-year decline [1][6]. - The real estate market's downturn has led to a 12.9% decrease in new residential property sales area in 2024, directly impacting the demand for home furnishing [6]. - In the first half of 2024, the sales revenue of large-scale building materials and home furnishing markets dropped by 8.12% year-on-year, totaling 688.18 billion yuan [6]. Group 3: Consumer Behavior and Market Trends - Consumer spending on home decoration has become more cautious, with over 60% of consumers budgeting under 200,000 yuan due to economic pressures [6]. - The demand for home decoration services is shifting towards more rational and cautious spending patterns, influenced by economic conditions [6]. Group 4: Talent and Structural Challenges - The home furnishing industry faces a talent shortage, particularly in digital design and smart manufacturing, with a talent gap exceeding 30% in key positions [7]. - The industry is grappling with structural contradictions between traditional development models and new market demands, including severe product homogeneity and outdated service models [7]. Group 5: Future Outlook and Transformation - The home furnishing market is expected to reach 4.8 trillion yuan by 2025, with a projected 12% year-on-year growth, driven by increasing consumer demand for smart home products and sustainable materials [8]. - Companies are urged to enhance their core competitiveness through technological upgrades and ecosystem collaborations, transitioning from product providers to comprehensive lifestyle solution providers [9].