| 证券代码：301078 | 证券简称：孩子王 债券简称：孩王转债 | 公告编号：2024-128 | | --- | --- | --- | | 债券代码：123208 | | | （一）审议通过《关于豁免第三届董事会第三十一次会议通知期限的议案》 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或者重大遗漏。 一、董事会会议召开情况 孩子王儿童用品股份有限公司（以下简称"公司"）第三届董事会第三十 一次会议于 2024 年 10 月 25 日通过通讯方式召开并做出董事会决议，经全体董 事同意豁免本次会议通知期限要求，会议通知于当日以通讯形式送达全体董事。 本次董事会会议应出席董事 7 名，实际出席董事 7 名。会议由董事长汪建国先 生召集并主持，公司监事列席了会议。本次会议的召集、召开和表决程序符合 《中华人民共和国公司法》《中华人民共和国证券法》等相关法律法规以及 《孩子王儿童用品股份有限公司章程》等制度的有关规定，会议合法有效。 二、董事会会议审议情况 孩子王儿童用品股份有限公司 关于第三届董事会第三十一次会议决议的公告 根据《公司章程》及《董事会议事规则》等有关 ...

| 证券代码：301078 | 证券简称：孩子王 | 公告编号：2024-130 | | --- | --- | --- | | 债券代码：123208 | 债券简称：孩王转债 | | 孩子王儿童用品股份有限公司 关于提前赎回"孩王转债"暨赎回实施的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或者重大遗漏。 特别提示： 1、可转债赎回条件满足日：2024 年 10 月 25 日 4、可转债赎回价格：100.16 元/张（含当期应计利息，当期年利率为 0.50%， 且当期利息含税），扣税后的赎回价格以中国证券登记结算有限责任公司深圳分 公司（以下简称"中国结算"）核准的价格为准。 5、可转债赎回资金到账日（到达中国结算账户）：2024 年 11 月 21 日 9、赎回类别：全部赎回 10、本次赎回完成后，"孩王转债"将在深圳证券交易所（以下简称"深交所"） 摘牌。债券持有人持有的"孩王转债"如存在被质押或被冻结的，建议在停止转股 日前解除质押或冻结，以免出现因无法转股而被赎回的情形。 11、债券持有人若转股，需开通创业板交易权限。投资者不符合创业板股票 适当性 ...

北京市汉坤律师事务所 关 于 孩子王儿童用品股份有限公司 可转换公司债券 提前赎回 的 法 律 意 见 书 汉坤（证）字[2024]第 22219-8-O-6 号 中国北京市东长安街 1 号东方广场 C1 座 9 层 100738 电话：(86 10) 8525 5500；传真：(86 10) 8525 5511 / 8525 5522 北京 上海 深圳 香港 海口 武汉 新加坡 纽约 北京市汉坤律师事务所 法律意见书 北京市汉坤律师事务所 关于孩子王儿童用品股份有限公司 可转换公司债券提前赎回的法律意见书 汉坤（证）字[2024]第 22219-8-O-6 号 致：孩子王儿童用品股份有限公司 北京市汉坤律师事务所（以下简称"本所"）接受孩子王儿童用品股份有限公 司（以下简称"孩子王股份"或"公司"）委托，依据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称《证券法》）、《可转换 公司债券管理办法》（以下简称《管理办法》）、《深圳证券交易所上市公司自律监 管指引第 15 号——可转换公司债券》（以下简称《监管指引》）等法律、行政法 规、规范性文件以及《孩子王儿童用品股份 ...

关于孩子王儿童用品股份有限公司 华泰联合证券有限责任公司 根据《孩子王儿童用品股份有限公司向不特定对象发行可转换公司债券并在 创业板上市募集说明书》（以下简称"《募集说明书》"）的规定，本次发行的 可转债转股期自可转债发行结束之日 2023 年 7 月 28 日起满六个月后的第一个 交易日起至可转债到期日止。 提前赎回"孩王转债"暨赎回实施的核查意见 华泰联合证券有限责任公司（以下简称"保荐机构"）作为孩子王儿童用品 股份有限公司（以下简称"孩子王"、"公司"）首次公开发行股票并在创业板 上市、向不特定对象发行可转换公司债券并在创业板上市及进行持续督导的保荐 机构，根据《中华人民共和国证券法》《证券发行上市保荐业务管理办法》《深 圳证券交易所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号——创业板上市公司规范运作》等相关法律、法规和规范性文件的要求，对 孩子王提前赎回"孩王转债"暨赎回实施的事项进行了审慎核查，并出具本核查 意见。核查情况如下： 一、可转换公司债券发行上市情况 （一）可转债发行情况 经中国证券监督管理委员会《关于同意孩子王儿童用品股份有限公司向不特 定对象发行可转换公司债券 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [2] Core Views - The company reported a Q3 2024 revenue of 2.278 billion yuan, a year-on-year increase of 4.11%, and a net profit attributable to shareholders of 52 million yuan, up 8.66% year-on-year [3] - The company is focusing on a "three expansion" strategy: expanding product categories, expanding business tracks, and expanding business formats, with a long-term focus on children's lifestyle stores, non-standard growth, and local parent-child services [4] - The company has completed upgrades for over 40 children's lifestyle stores, with the average transaction amount for large children's black gold members increasing to 45%, a year-on-year increase of nearly 4 percentage points [3][4] - The company has initiated a franchise business targeting lower-tier markets, with plans to open 10 franchise stores by the end of the year and aims to cover 1,000 counties in the next three years [3][4] - The company is also focusing on online live streaming sales, having announced a joint venture with Xin Xuan to develop new family e-commerce live retail business [3][4] Financial Summary - The company expects to achieve revenues of 9.649 billion yuan, 10.461 billion yuan, and 11.345 billion yuan for the years 2024, 2025, and 2026 respectively [5][6] - The projected net profit for 2024, 2025, and 2026 is 203 million yuan, 273 million yuan, and 375 million yuan respectively [5][6] - The gross profit margin is expected to be 29.5% in 2024, increasing to 30.9% by 2026 [5][6] - The company has a strong cash flow position, with cash flow from operating activities projected to be 1.006 billion yuan in 2024 [5][6]

证券代码：301078 证券简称：孩子王 公告编号：2024-127 债券代码：123208 债券简称：孩王转债 孩子王儿童用品股份有限公司 关于控股股东及其一致行动人持股比例被动稀释超过 1%的提示 性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈 述或者重大遗漏。 本次权益变动系孩子王儿童用品股份有限公司（以下简称"公司"或"上市公司"） 可转换公司债券"孩王转债"转股导致公司总股本增加，从而导致公司控股股东及其一致 行动人合计持股比例被动稀释，不涉及持股数量发生变化，不触及要约收购，不会导致 公司控股股东及实际控制人发生变化，不会影响公司的治理结构和持续经营。 根据中国证监会《上市公司股权激励管理办法》、深圳证券交易所、中国证券登记 结算有限责任公司深圳分公司有关业务规则的规定，经深圳证券交易所、中国证券登记 结算有限责任公司深圳分公司审核确认，公司完成了 2022 年限制性股票激励计划第一 类限制性股票的授予登记工作，向 374 名激励对象授予限制性股票 2,404.45 万股，公司 的总股本由 1,088,000,000 股变更为 1,112,044,500 ...

Investment Rating - Buy (Maintained) [5] Core Views - The company's performance is stable with growth, driven by franchise expansion and investments [1] - Revenue and net profit show steady increases, with H1 2024 net profit up by 15% [1] - Franchise model focuses on lower-tier cities, with significant sales growth in newly opened stores [3] - Collaboration with Xinxuan to explore live streaming and new retail, potentially enhancing profit margins [4] Performance Overview - 24Q1-3 revenue increased by 7% YoY to 6.8 billion, with net profit attributable to shareholders up by 12% to 130 million [1] - 24Q3 revenue grew by 4% YoY to 2.28 billion, with net profit up by 9% to 50 million [1] - Non-recurring gains increased due to higher returns from financial products [1] Cost Efficiency and Profitability - Gross margin improved to 29.5% (+0.2pct), with net margin at 2.3% (+0.3pct) [2] - Management expense ratio decreased to 5.1% (-0.4pct), while R&D expense ratio dropped to 0.4% (-0.2pct) [2] Franchise Expansion - 5 franchise stores have been opened, focusing on lower-tier cities [3] - The first franchise store in Sichuan saw a 43% MoM sales increase in September and a 62% increase in October [3] Strategic Collaboration and New Ventures - The company plans to establish a joint venture, Lianqi Future, with a 45% voting right, to explore live streaming and new retail [4] - The joint venture is expected to enhance revenue stability and profit potential [4] Financial Forecasts - Revenue is projected to grow to 9.92 billion (+13%) in 2024, 11.03 billion (+11%) in 2025, and 11.93 billion (+8%) in 2026 [4] - Net profit attributable to shareholders is expected to reach 196 million (+86%) in 2024, 288 million (+47%) in 2025, and 396 million (+38%) in 2026 [4] - Current PE ratios are 71X for 2024, 48X for 2025, and 35X for 2026 [4] Financial Ratios and Metrics - Gross margin is forecasted to rise from 29.56% in 2023 to 31.43% in 2026 [6] - Net margin is expected to increase from 1.20% in 2023 to 3.32% in 2026 [6] - ROE is projected to grow from 3.35% in 2023 to 9.72% in 2026 [6]

Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 11.91 yuan [3]. Core Views - The company achieved a revenue of 6.798 billion yuan in the first three quarters of 2024, representing a year-on-year increase of 7.10%. The net profit attributable to the parent company was 131 million yuan, up 12.24% year-on-year [1]. - The company is focusing on expanding its franchise business and exploring new family e-commerce live retail in collaboration with XinXuan Holdings [1]. - The operating cash flow saw a significant increase of 133% year-on-year, amounting to 909 million yuan in the first three quarters of 2024 [1]. - The company is expected to open 1,000 franchise stores by the end of 2027, aiming for a "one store per county" strategy [1]. Summary by Sections Financial Performance - For Q1-Q3 2024, the company reported a gross margin of 29.50% and a net profit margin of 1.93%, with a year-on-year increase in net profit margin of 0.09 percentage points [1]. - The company’s net cash flow from operating activities was 909 million yuan, reflecting a strong growth of 132.76% year-on-year [1]. - The projected net profits for 2024, 2025, and 2026 are 211 million yuan, 320 million yuan, and 409 million yuan, respectively, with growth rates of 100.4%, 51.7%, and 28.0% [2][4]. Business Strategy - The company is enhancing its children's lifestyle store model to drive growth in mature store operations and is aggressively pursuing a franchise model to penetrate lower-tier markets [1]. - The collaboration with XinXuan Holdings aims to leverage both companies' strengths in brand, digitalization, and supply chain to enhance sales in the e-commerce sector [1]. Market Outlook - The company is well-positioned in the mother and baby channel, with strong multi-channel operational capabilities and ongoing digital transformation expected to drive performance growth [1]. - The anticipated increase in franchise stores and the focus on cash flow management are expected to further enhance market share [1].

证券简称：孩子王 证券代码：301078 债券简称：孩王转债 债券代码：123208 孩子王儿童用品股份有限公司 投资者关系活动记录表 编号：2024-005 | --- | --- | --- | --- | --- | |--------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|------------|-------| | | | | | | | | ☐特定对象调研 | ☐ 分析师会议 | | | | | ☐ 媒体采访 | ☐ 业绩说明会 | | | | 投资者关系 | ☐ 新闻发布会 | ☐ 路演活动 | | | | 活动类别 | ☐ 现场参观 | | | | | | 其他（ ...

孩子王(301078)10月22日披露2024年第三季度报告。 公司前三季度实现营业收入67.98亿元，同比增长7.10%；归母净利润1.31亿元，同比增长12.24%；扣非 净利润9262.79万元，同比增长8.15%；经营活动产生的现金流量净额为9.09亿元，同比增长132.76%； 报告期内，孩子王基本每股收益为0.1185元，加权平均净资产收益率为4.03%。 据悉，2024年，国内母婴童行业龙头企业孩子王正式开放大店加盟业务，与加盟商共享已有的门店数字 化管理和会员精准营销的核心能力，通过孩子王"品牌授权+数字化能力"整店模型输出的加盟模式，扩 展场景业态。 据介绍，自2024年7月26日孩子王全国首家精选店四川广汉百伦广场店盛大开业以来，截至目前，孩子 王加盟精选店已累计开设4家。 相较公司现有的直营门店，加盟精选店是孩子王重点布局三四线城市，抢占下沉市场风口的全新尝试。 此外，2024年10月，为进一步丰富商业业态，巩固提升核心竞争力，孩子王与广东辛选控股有限公司共 同投资设立杭州链启未来有限责任公司，开展新家庭电商直播零售业务，探索线下新零售业务的发展。 据透露，双方正在打造专属直播间，计划于 ...