股票近期走势 在2026年1月29日至2月2日的减持期间，公司股价有所波动。根据行情数据，截至2026年2月2日收盘， 股价报13.79元。 机构观点 经济观察网 华凯易佰持股5%以上股东周新华及其一致行动人罗晔近期存在股份减持行为。 高管变动 股东周新华先生于2025年12月3日披露减持计划，拟在2025年12月25日至2026年3月24日期间减持不超过 1176.38万股公司股份。根据公司公告，在2026年1月29日至2月2日期间，周新华及其一致行动人罗晔通 过集中竞价和大宗交易方式合计减持公司股份517.5万股，占公司总股本的1.28%。此次权益变动后，周 新华及其一致行动人合计持股比例由10.99%降低至9.71%。 广发证券在2026年1月22日的研报中指出，公司库存出清拐点确立，预计2026年业绩有望迎来高弹性修 复。 以上内容基于公开资料整理，不构成投资建议。 股东减持是资本市场常见行为，通常源于股东自身资金需求。投资者在决策时，可综合关注公司基本 面、财务状况及未来发展战略等多方面信息。 ...

证券日报网讯 2月10日，华凯易佰发布公告称，近日，公司收到股东周新华先生的通知，获悉周新华先 生将其所持有的公司部分股份解除质押，本次将373万股解除质押，相关手续已在中国证券登记结算有 限责任公司办理完毕。 （文章来源：证券日报） ...

每经AI快讯，华凯易佰2月10日晚间发布公告称，近日，华凯易佰科技股份有限公司（以下简称"公 司"）收到股东周新华先生的通知，获悉周新华先生将其所持有的公司部分股份解除质押，相关手续已 在中国证券登记结算有限责任公司办理完毕。周新华本次解除质押股份数量为373万股。截至本公告 日，周新华累计质押股数约为935万股，占其所持股份比例为36.84%。罗晔累计质押股数为870万股， 占其所持股份比例为67.43%。 每经头条（nbdtoutiao）——10倍价差刷屏！"外国人来华就医"火了，三位亲历者这样说⋯⋯ （记者 曾健辉） ...

证券代码：300592 证券简称： 华凯易佰 公告编号：2026-005 华凯易佰科技股份有限公司 关于股东部分股份解除质押的公告 1、本次解除质押基本情况 | 股东 | 是否为控股股东或 第一大股东及其一 | 本次解除质押 | 占其所持股 | 占公司总股 | 质押开始日期 | 解除质押日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | | 股份数量（股） | 份比例 | 本比例 | | | | | | 致行动人 | | | | | | | | 周新华 | 否 | 3,730,000 | 14.70% | 0.92% | 2025-2-26 | 2026-2-6 | 红塔证券股份 | | | | | | | | | 有限公司 | 注：公司于 2025 年 12 月 3 日披露了《关于持股 5%以上股东及其他股东减持公司股份计划的预披露公 告》（公告编号：2025-101），持股 5%以上股东周新华先生计划在 2025 年 12 月 25 日至 2026 年 3 月 24 日期间，以集中竞价方式及/或大宗交易方式减持公司股份合计 ...

Investment Rating - The report maintains a positive investment rating for the cross-border e-commerce industry [11]. Core Insights - Cross-border e-commerce is characterized by high customer unit prices and high markup rates, but it has a longer midstream chain, leading to significant fluctuations in profitability [22]. - The industry is currently in a recovery phase, with a projected revenue growth of 26% in 2024 and 15% in Q1-Q3 of 2025, while non-recurring net profits are expected to decline by 46% and grow by 1% respectively [3][7]. - The report emphasizes the cyclical nature of profitability in the industry, with leading sellers gaining a relative advantage [8]. Summary by Sections Introduction: Exploring the Operating Cycle of Cross-Border E-Commerce - Cross-border e-commerce involves pre-stocking goods in overseas warehouses and includes complex logistics processes such as customs clearance and last-mile delivery, making it more intricate than traditional consumer goods [3][7]. Review: Strong Profitability Cycles and Head Seller Advantages - Historical analysis shows that the penetration rate of overseas e-commerce and the share of Chinese sellers are increasing, establishing a high growth baseline for the industry [8]. - The industry is transitioning from a phase dominated by e-commerce dividends to one focused on quality and compliance, with leading sellers outperforming overall industry growth [8]. Current Situation: Negative Impacts Easing, Industry Bottoming Out - The industry is currently in a recovery phase, driven by orderly supply chain transitions and tax reforms in China's e-commerce sector, which enhance competitive dynamics among leading sellers [9]. - Inventory levels among top sellers have reached historical lows, indicating that the inventory destocking phase is nearing its end, and shipping costs still have room to decline [9]. Investment Recommendations: Lightening the Load, Performance Inflection Point Expected - The report suggests that the cross-border e-commerce industry is expected to experience a performance inflection point in 2026, with revenue and profitability on an upward trajectory [10]. - Recommended companies include Anker Innovations and Ugreen Technology, which are leveraging channel and operational advantages to build brand recognition among overseas consumers [10].

证券代码：300592 证券简称： 华凯易佰 公告编号：2026-004 华凯易佰科技股份有限公司 关于持股5%以上股东及其一致行动人持股比例变动触及 1%及5%整数倍暨披露简式权益变动报告书的提示性公告 股东周新华先生及其一致行动人罗晔女士保证向本公司提供的信息内容真实、准确、 完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 1、本次权益变动系持股 5%以上股东减持公司股份，不涉及要约收购。 2 股东 名称 减持 方式 减持期间 减持均价 减持股份 （股） 占总 股本 比例 占剔除回 购股份后 总股本比 例 股份来源 周新 华 集中 竞价 2026.1.29-2026.1.30 14.35 元/股 714,000 0.18% 0.18% 公司首次公开 发行前股份， 公司 2021 年发 行股份购买资 产时向特定对 象 发 行 的 股 份，公司 2024 年实施股权激 励授予的股份 及因资本公积 转增股本而相 应 增 加 的 股 份，原一致行 动人神来科技 非交易过户的 股份。 大宗 交易 2026.1.29-2026.2.2 12. ...

股票代码：300592 信息披露义务人 1：周新华 住所/通讯地址：湖南省宁乡县**** 华凯易佰科技股份有限公司 简式权益变动报告书 上市公司名称：华凯易佰科技股份有限公司 股票上市地点：深圳证券交易所 股票简称：华凯易佰 信息披露义务人 2：罗晔 股份权益变动性质：股份减少 住所/通讯地址：湖南省宁乡县**** 股份权益变动性质：不变 签署日期：2026 年 2 月 3 日 信息披露义务人声明 一、本报告书系依据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司收购管理办法》《公开发行证券的公司信息披露内容与格式准则第 15 号——权益变动报告书》及相关法律、法规和规范性文件编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共和国证券法》《上市公司收购管理办法》的规定， 本报告书已全面披露信息披露义务人在华凯易佰科技股份有限公司中拥有权益 的股份变动情况。 截至本报告书签署之日，除本报告书披露的信息外，信息披露义务人没有 通过任何其他方式增加或减少其在华凯易佰科技股份有限公司中拥有权益的股 份。 四、本次权益变动是根据本报告书所载明的资料进行的。除信息披露义务 人 ...

Market Overview - The internet e-commerce sector increased by 2.17% on February 3, with Huakai Yibai leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Stock Performance - Huakai Yibai (300592) closed at 14.59, up 5.80% with a trading volume of 241,700 shares [1] - Kuaijingtong (002640) closed at 4.08, up 4.35% with a trading volume of 996,800 shares [1] - Yiwang Yichuang (300792) closed at 46.00, up 3.58% with a trading volume of 233,400 shares [1] - Other notable stocks include Saiwei Times (301381) at 23.16, up 3.49%, and Jihong Co. (002803) at 20.00, up 3.47% [1] Capital Flow - The internet e-commerce sector saw a net inflow of 76.06 million yuan from main funds, while retail funds experienced a net outflow of 23.19 million yuan [2] - Major stocks with significant capital inflow include Kuaijingtong with 43.10 million yuan and San Tai Co. (301558) with 31.94 million yuan [3] - Huakai Yibai had a net inflow of 21.57 million yuan, while Ji Hong Co. experienced a net inflow of 16.39 million yuan [3]

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交全额 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | 2026-02-02 | 300592 | 华凯易佰 | 12.27 | 26.00 | 319.02 招商证券股份有限 | 红塔证券股份有限 | | | | | | | 公司西安北大街证 | 公司长沙八一路证 | | | | | | | 券营业部 | 券营业部 | | 2026-02-02 | 300592 | 华凯易佰 | 12.27 | 16.30 | 200.00 长江证券股份有限 | 红塔证券股份有限 | | | | | | | 公司北京百万庄大 | 公司长沙八一路证 | | | | | | | 街证券营业部 | 券营业部 | | 2026-02-02 | 300592 | 华凯易佰 | 12.27 | 16.50 | 202.46 机构专用 | 红塔证券股份有限 | | | | | | | | 公司长沙八一路证 | | | | | ...

Investment Rating - The report maintains an "Accumulate" rating for the industry [5] Core Insights - The retail sector is expected to show varied performance in Q4 2025, with significant growth in certain segments like gold and jewelry, while others like supermarkets and department stores are projected to decline [1][2][4] - The report highlights the importance of the upcoming Spring Festival season, suggesting that sectors with performance elasticity, such as duty-free shops and certain tourist attractions, should be closely monitored [9] - The report emphasizes the potential of AI applications in enhancing e-commerce marketing, indicating a shift towards new retail strategies [9] Summary by Relevant Sections Retail Sector Outlook - Gold and Jewelry: - Lao Feng Xiang: Expected net profit growth of -15% to 5% in Q4 2025 - Zhou Da Sheng: Expected net profit growth of 15% to 30% in Q4 2025 - Chao Hong Ji: Forecasted net profit of 1.2 to 2.2 billion, with a year-on-year increase of 125% to 175% - Cai Bai Co.: Expected net profit growth of 150% to 254% in Q4 2025 - Yu Garden Co.: Forecasted loss of 4.312 billion in Q4 2025, compared to a loss of 1.03 billion in the same period last year [1] - Trendy Toys: - Miniso: Expected revenue growth of 25% to 30% in Q4 2025, with adjusted net profit growth of 10% to 20% [1] Supermarkets and Department Stores - Chongqing Department Store: Expected net profit of 1.021 billion, a decline of 22.4% year-on-year, with a projected drop of 92.5% in Q4 2025 - Wangfujing: Expected net profit loss of 0.45 to 0.23 billion, with a growth rate of -6.6% to 7.3% in Q4 2025 - Yonghui Supermarket: Expected loss of 2.14 billion, with a net profit growth rate of -3.1% in Q4 2025 - Home Home Joy: Expected net profit of 198 to 228 million, with a growth rate of 50.1% to 72.8% in Q4 2025 [2] Cross-Border and E-commerce - Small Commodity City: Expected net profit growth of 5% to 15% in Q4 2025 - Anker Innovation: Expected net profit growth of 10% to 20% in Q4 2025 - Su Mei Da: Expected net profit of 1.355 billion, with a growth rate of 70.8% in Q4 2025 [3] Social Services Sector Outlook - Duty-Free: China Duty-Free Group: Expected net profit growth of 29% to 173% in Q4 2025 - Tourism: - Songcheng Performance: Expected net profit growth of -204% to 294% in Q4 2025 - Jiuhua Tourism: Expected net profit growth of 0% to 15% in Q4 2025 [4] Investment Recommendations - The report recommends focusing on sectors with performance elasticity during the Spring Festival, including duty-free, certain tourist attractions, and gold and jewelry [9] - For 2026, the report suggests looking at service consumption and product consumption, particularly in duty-free and travel chains, as well as undervalued segments with improving fundamentals [9]