公司代码：603518 公司简称：锦泓集团 锦泓时装集团股份有限公司 锦泓集团 2025 半年度报告 1 重要提示 一、 本公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容的真实性、准确性、 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 二、 公司全体董事出席董事会会议。 三、 本半年度报告未经审计。 四、 公司负责人王致勤、主管会计工作负责人陶为民及会计机构负责人（会计主管人员）潘自展 声明：保证半年度报告中财务报告的真实、准确、完整。 五、 董事会决议通过的本报告期利润分配预案或公积金转增股本预案 无 六、 前瞻性陈述的风险声明 √适用 □不适用 本报告中所涉及的未来计划、发展战略等前瞻性描述不构成公司对投资者的实质承诺，敬请投资 者注意投资风险。 七、 是否存在被控股股东及其他关联方非经营性占用资金情况 否 八、 是否存在违反规定决策程序对外提供担保的情况 否 九、 是否存在半数以上董事无法保证公司所披露半年度报告的真实性、准确性和完整性 否 十、 重大风险提示 公司已在本报告中详细描述存在的市场风险、经营风险、财务风险等。敬请查阅本报告"第三节 管 理层讨论 ...

Core Viewpoint - The company, Jin Hong Group, reported a decline in revenue and net profit for the first half of 2025, primarily due to the impact of convertible bond interest payments and reduced government subsidies, although core profitability remained stable when excluding non-recurring factors [1][2]. Financial Summary - Total assets decreased by 10.23% to approximately 5.31 billion RMB compared to the end of the previous year [1]. - Net assets attributable to shareholders increased slightly by 0.45% to approximately 3.63 billion RMB [1]. - Revenue for the reporting period was approximately 1.99 billion RMB, down 4.04% year-on-year [1]. - Total profit decreased by 22.89% to approximately 148.45 million RMB [1]. - Net profit attributable to shareholders was approximately 113.72 million RMB, a decrease of 23.03% [1]. - The net cash flow from operating activities fell by 45.23% to approximately 197.51 million RMB [1]. - The weighted average return on net assets decreased by 1.14 percentage points to 3.12% [1]. - Basic and diluted earnings per share were both 0.32 RMB, down 23.26% from the previous year [1]. Brand Performance - Teenie Weenie brand's IP licensing revenue grew significantly by 61.97% to approximately 22.79 million RMB, while its main business revenue decreased by 3.78% to approximately 1.56 billion RMB [2]. - VGRASS brand's main business revenue fell by 11.57% to approximately 351 million RMB [2]. - Yuanxian brand's revenue increased by 20.95% to approximately 51.57 million RMB [2]. Marketing and Brand Strategy - Teenie Weenie brand enhanced its youthful image through innovative marketing and collaborations, including a new male brand ambassador and a themed marketing campaign that achieved significant online exposure [8]. - VGRASS brand focused on high-end positioning and cultural heritage, successfully hosting events that attracted considerable media attention and consumer engagement [8][11]. - Yuanxian brand leveraged national media exposure and cultural events to promote its heritage products, enhancing brand recognition and consumer loyalty [10][12]. Operational Developments - The company is enhancing its digital operations and supply chain collaboration to improve efficiency and decision-making capabilities [14][15]. - A focus on customer needs and scenario-based product development has been emphasized across all brands to improve competitiveness [12][14]. - The company is implementing a matrix organizational structure to enhance operational efficiency and decision-making effectiveness [16].