证券代码：301381 证券简称：赛维时代 公告编号：2024-063 赛维时代科技股份有限公司 一、控股股东股权结构变更情况 本次变更完成前，陈文平先生持有雄安君腾 100%股权，本次变更完成后， 陈文平先生持有雄安君腾 67%股权，王园园女士持有雄安君腾 33%股权。 二、控股股东股权结构变更对公司的影响 本次公司控股股东股权结构变更，公司的控股股东、实际控制人不变，控股 股东仍为雄安君腾，实际控制人仍为陈文平先生。王园园女士在雄安君腾经营管 理及其持有的雄安君腾全部股权涉及的赛维时代相关的所有事项上均与陈文平 先生采取一致行动，双方形成一致行动关系。本次控股股东股权结构变更不会导 致公司业务结构发生变化，也不会对公司的正常经营活动产生影响。 特此公告。 赛维时代科技股份有限公司 董事会 关于控股股东股权结构变更完成的公告 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 性陈述或重大遗漏。 赛维时代科技股份有限公司（以下简称"赛维时代"或"公司"）于 2024 年 10 月 8 日在巨潮资讯网（www.cninfo.com.cn）上披露了《关于控股股东股权 结构拟发生变更的提 ...

公 司 点 评 报 告 公 司 研 究 | --- | --- | |---------------------------------|--------------| | | | | | | | ＃ | | | ＃市场数据 marketData | | | 市场数据日期 | 2024-11-12 | | 收盘价（元） 总股本（百万股） | 26.44 400.10 | | 流通股本（百万股） | 192.30 | | 净资产（百万元） | 2416.46 | | 总资产（百万元） | 4982.78 | | 每股净资产(元 ) | 6.04 | | 来源： | | ＃相关报告 relatedReport＃ 《【兴证社服&零售】赛维时代： Q3 归母净利润同比+97.84%，业 绩持续向好》2023-11-09 《【兴证社服&零售】赛维时代 2023 年报暨 2024 一季报点评： 盈利能力稳步提升，数字化赋能 品牌矩阵》2024-05-17 daiky@xyzq.com.cn S0190519050001 金秋 jinqiu@xyzq.com.cn S0190520080004 ＃分析师： emailAut ...

Investment Rating - The report maintains a "Buy" rating for Saiwei Times (301381 SZ) [6] Core Views - Saiwei Times achieved a 64% YoY revenue growth in Q3 2024, reaching 2 624 billion yuan, but reported a net loss attributable to the parent company of 40 18 million yuan, a 156% YoY decline [4] - The company's revenue growth momentum continued to accelerate in Q3 2024, with apparel categories growing 65% YoY and non-apparel categories growing 43% YoY [4] - Gross margin declined by 3 6 percentage points YoY in Q3 2024, mainly due to lower average selling prices and rising shipping costs [4] - Selling expenses ratio increased by 4 4 percentage points YoY in Q3 2024, driven by higher promotion expenses despite Amazon's commission reduction for low-priced apparel [5] - The company is expected to achieve net profits of 340 million, 480 million, and 520 million yuan in 2024, 2025, and 2026 respectively [5] Financial Performance - For Q1-Q3 2024, the company's revenue growth rates were 45%, 56%, and 64% respectively [4] - The gross profit margin for Q3 2024 was negatively impacted by increased shipping costs, particularly affecting non-apparel categories [4] - The company's net loss margin in Q3 2024 was 1 5%, a 6 0 percentage point decline YoY [5] - Management expects the company's growth momentum to continue, supported by brand expansion and new channel development in Europe [5] Market Data - The current stock price is 25 93 yuan as of November 6, 2024 [6] - The company has a total share capital of 400 10 million shares, with 192 30 million A-shares in circulation [6] - The 12-month high and low prices are 38 52 yuan and 20 34 yuan respectively [6]

证券代码：301381 证券简称：赛维时代 公告编号：2024-062 赛维时代科技股份有限公司 关于与专业投资机构共同投资的进展公告 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 性陈述或重大遗漏。 一、交易概述 赛维时代科技股份有限公司（以下简称"公司"）为推动贸易高质量发展， 拓宽公司产业布局和战略视野，作为有限合伙人使用自有资金与普通合伙人兼 执行事务合伙人招商局资本管理（北京）有限公司（以下简称"招商局资本（北 京）"）及其他有限合伙人共同投资设立了海南招服贸易新业态股权投资基金合 伙企业（有限合伙）（以下简称"合伙企业"），合伙企业已于 2024 年 1 月完 成工商注册登记手续并取得海南省市场监督管理局颁发的《营业执照》。具体内 容详见公司于 2023 年 11 月 24 日披露于巨潮资讯网（www.cninfo.com.cn）的 《关于与专业投资机构共同投资的公告》（公告编号：2023-031）；于 2024 年 1 月 8 日、于 2024 年 9 月 12 日在中国证监会指定信息披露媒体巨潮资讯网上披 露的《关于与专业投资机构共同投资的进展公告》（公告编号： ...

国泰君安版权所有发送给上海东方财富金融数据服务有限公司.东财接收研报邮箱.ybjieshou@eastmoney.com p1 股 票 研 究 证 券 研 究 报 告 ——赛维时代 2024 年三季报点评 营收依旧强劲，利润阶段性承压 赛维时代(301381) 批零贸易业[Table_Industry] /可选消费品 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------|-------------------------------------|--------------------------|-------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | [table_Authors] 刘越男 ( 分析师 ) | 陈笑 ( 分析师 ) | | | | | | | | | | | 021-38677706 | 021-38677906 | | | | | | | | | | | l ...

上 市 公 司 证 券 研 究 报 告 - 商贸零售 公 司 研 究/ 公 司 点 评 | --- | --- | |-----------------------------|-------------------------------| | 市场数据： | 2024 年 10 月 31 日 | | 收盘价（元） | 25.57 | | 一年内最高/最低（元） | 38.52/20.34 | | 市净率 | 4.2 | | 息率（分红 / 股价） | 3.13 | | 流通 A 股市值（百万元） | 4,917 | | 上证指数 / 深证成指 | 3,279.82/10,591.22 | | --- | --- | |------------------------------|------------------------| | | | | 基础数据 : 2024 | 年 09 月 30 日 | | | | | 每股净资产（元） | 6.04 | | 资产负债率 % | 51.50 | | 总股本/流通 A 股（百万） | 400/192 | | 流通 B 股/H 股（百万） | -/- | 一年内股 ...

证券代码：301381 证券简称：赛维时代 赛维时代科技股份有限公司 投资者关系活动记录表 编号：2024-008 | 投资者关系活动 | □特定对象调研 □分析师会议 | | | --- | --- | --- | | 类别 | □媒体采访 □业绩说明会 | | | | □新闻发布会 □路演活动 | | | | □现场参观 | | | | 其他：电话会议 |  | | 参与单位名称及 | 广发证券、国泰君安证券、国金证券、华泰证券、民生证券、 | | | 人员姓名 | 中信证券、中金公司、海通证券、中信建投证券、开源证券、 | | | | 长江证券、东吴证券、国元证券、招商证券、浙商证券、国海 | | | | 证券、德邦证券、方正证券、天风证券、华创证券、银河基金、 | | | | 方正富邦基金、博道基金、光大保德信基金、中海基金、长信 | | | | 基金、兴全基金、招银理财、杭银理财、渤海人寿、珠海立本 | | | | 私募、上海原点资产管理等 | | | 时间 | 2024 年 月 30 日 | 10 | | 地点 | 公司会议室 | | | 上市公司接待人 | 董事会秘书 艾帆 | | | 员姓名 ...

赛维时代（301381.SZ）2024 年三季报点评 [盈利预测与财务指标 Table_Forcast] 销售持续高增，新品开拓影响三季度业绩 2024 年 10 月 30 日 ➢ 业绩简述：24Q1-3 营收 68.02 亿元/YoY+55.50%，归母净利润 1.95 亿元 /YoY-12.20%，扣非归母净利润 1.63 亿元/YoY-21.47%。经营性现金流量净额 -4.85 亿元/YoY-242.87%，主要系因销售体量增加和新品开发数量提升而需增 加备货，以及为年底旺季备货所致。24Q3 营收 26.24 亿元/YoY+63.89%，归母 净利润-0.40 亿元/YoY-155.65%，扣非归母净利润-0.47 亿元/YoY-171.32%。 ➢ 商品销售收入保持快速增长，24Q3 增速环比提升。分品类看，24Q1-3 服 饰配饰品类收入为 48.58 亿元/YoY+57.79%，24Q3 收入为 18.56 亿元 /YoY+64.98%，主要得益于今年新品开发力度增强和营销端多措并举、强化投 放。24Q1-3 非服饰配饰品类收入为 16.36 亿元/YoY+37.66%，24Q3 收入为 6. ...

证券代码：301381 证券简称：赛维时代 公告编号：2024-061 赛维时代科技股份有限公司 持股 5%以上股东减持股份预披露公告 持股 5%以上股东共青城众腾创业投资合伙企业（有限合伙）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： 持有本公司股份 93,004,200 股（占本公司总股本比例 23.25%）的股东共青 城众腾创业投资合伙企业（有限合伙）（以下简称"众腾投资"）计划自本公告披 露之日起十五个交易日后的三个月内，以集中竞价和/或大宗交易方式减持本公 司股份合计不超过 8,002,000 股，占公司总股本比例不超过 2%。减持期间内，公 司如有派息、送股、资本公积金转增股本、配股、股份回购注销等股份变动事项， 拟减持股份数量、价格将相应进行调整，但减持股份占公司总股本的比例不变。 1.减持原因：自身资金需求 2.拟减持股份来源：公司首次公开发行股票前持有的股份。 3.减持方式：集中竞价和/或大宗交易方式 4.减持价格：根据市场价格确定 5.减持数量及比例：以集中竞价和/或大宗交 ...

Revenue and Profit - Revenue for the third quarter reached 2,624,173,706.25 yuan, a year-on-year increase of 63.89%[3] - Net profit attributable to shareholders of the listed company was -40,179,789.07 yuan, a year-on-year decrease of 155.65%[3] - Total operating revenue for the first three quarters of 2024 reached 6.802 billion yuan, a year-on-year increase of 55.50%[16] - Net profit attributable to shareholders of the listed company for the first three quarters of 2024 was 195 million yuan, a year-on-year decrease of 12.20%[16] - Total revenue for the current period reached 6,801,651,543.61 RMB, compared to 4,374,179,393.78 RMB in the same period last year, representing a growth of approximately 55.5%[22] - Net profit for the quarter was RMB 195.41 million, a decrease from RMB 222.55 million in the same period last year[23] - Net profit margin for the current period was approximately 3.7%, calculated based on total revenue and operating costs[22] Assets and Liabilities - Total assets as of the end of the reporting period were 4,982,777,373.51 yuan, an increase of 37.53% compared to the end of the previous year[3] - Total liabilities increased to 2,566,315,868.99 RMB from 1,208,714,398.19 RMB in the same period last year, a significant rise of approximately 112.3%[20] - Total equity remained relatively stable at 2,416,461,504.52 RMB, compared to 2,414,426,646.46 RMB in the same period last year[21] - The company's total assets increased to 4,982,777,373.51 RMB from 3,623,141,044.65 RMB in the same period last year, representing a growth of approximately 37.5%[21] - Total assets at the end of the period were 4,982,777,373.51 yuan, compared to 3,623,141,044.65 yuan at the beginning of the period[19] Inventory and Sales - Inventory increased by 159.32% to 2,081,070,618.75 yuan, mainly due to increased sales volume and new product development[7] - The apparel and accessories category saw a 57.79% year-on-year growth, contributing significantly to overall revenue growth[8] - Revenue from apparel and accessories category for the first three quarters of 2024 was 4.858 billion yuan, a year-on-year increase of 57.79%[16] - Revenue from non-apparel accessories category for the first three quarters of 2024 was 1.636 billion yuan, a year-on-year increase of 37.66%[16] - Inventory at the end of the period was 2,081,070,618.75 yuan, a significant increase from 802,495,867.78 yuan at the beginning of the period[19] - Sales revenue from goods and services was RMB 4.14 billion, an increase from RMB 2.74 billion in the same period last year[24] Expenses and Costs - Sales expenses rose by 66.16% to 2,584,768,666.08 yuan, driven by increased brand marketing and promotional efforts[8] - R&D expenses increased by 60.98% to 82,153,915.41 yuan, reflecting investments in new technologies and system upgrades[8] - Operating costs for the current period were 6,549,545,191.21 RMB, compared to 4,089,189,076.54 RMB in the same period last year, an increase of approximately 60.2%[22] - Sales expenses increased to 2,584,768,666.08 RMB from 1,555,548,113.84 RMB in the same period last year, a rise of approximately 66.2%[22] - R&D expenses for the current period were 82,153,915.41 RMB, up from 51,033,601.90 RMB in the same period last year, an increase of approximately 61%[22] - Payments for goods and services were RMB 3.34 billion, up from RMB 1.64 billion in the same period last year[24] - Employee compensation and benefits paid were RMB 543.41 million, an increase from RMB 361.51 million in the previous year[24] Cash Flow - Net cash flow from operating activities decreased by 242.87% to -485,301,612.37 yuan due to increased inventory for sales growth and new product development[11] - Net cash flow from investing activities increased by 109.35% to 111,484,531.77 yuan due to the redemption of financial products to meet peak inventory funding needs[11] - Net cash flow from financing activities decreased by 51.84% to 393,365,291.36 yuan due to new bank loans, discounting of bank acceptance bills, and dividend payments[11] - Operating cash flow was negative at RMB -485.30 million, compared to a positive RMB 339.68 million in the previous year[24] - Investment cash flow was positive at RMB 111.48 million, a significant improvement from RMB -1,192.92 million in the same period last year[25] - Financing cash flow was positive at RMB 393.37 million, down from RMB 816.75 million in the previous year[25] - Total cash and cash equivalents at the end of the period were RMB 721.70 million, up from RMB 671.61 million at the beginning of the period[25] - Tax refunds received were RMB 274.56 million, more than double the RMB 122.33 million received in the previous year[24] Shareholder Information - Xiamen Junteng Equity Investment Co., Ltd. holds 35.94% of the company's shares, totaling 143,812,440 shares[12] - Qingcheng Zhongteng Venture Capital Partnership holds 23.25% of the company's shares, totaling 93,004,200 shares[12] - Xiamen Junhui Equity Investment Co., Ltd. holds 15.07% of the company's shares, totaling 60,289,920 shares[12] - Xiamen Xinrui Jitai Equity Investment Partnership holds 8.84% of the company's shares, totaling 35,351,640 shares[12] - Total restricted shares at the end of the period amounted to 207,801,000 shares[15] Financial Instruments and Other Income - The fair value change of financial products resulted in a gain of 13,303,932.40 yuan, a 267.80% increase[10] - Inventory impairment provision changes led to a loss of 69,367,000.78 yuan, a 43.77% increase[10] - Subleasing of leased warehouse properties generated a gain of 11,119,427.82 yuan, a 196.32% increase[10] - Government subsidies decreased by 67.65% to 3,394,846.76 yuan, impacting other income[8] Earnings and Returns - The company's weighted average return on equity was -1.58%, a decrease of 4.98 percentage points compared to the same period last year[3] - The company's basic earnings per share were RMB 0.4884, down from RMB 0.6033 in the same period last year[23] Borrowings and Payables - Short-term borrowings surged by 550.98% to 713,794,893.11 yuan, primarily to meet funding needs during peak inventory periods[7] - Short-term borrowings at the end of the period were 713,794,893.11 yuan, a substantial increase from 109,650,118.22 yuan at the beginning of the period[19] - Accounts payable increased to 592,984,501.61 RMB from 265,391,456.91 RMB in the same period last year, a rise of approximately 123.4%[20] Monetary Funds and Receivables - Monetary funds at the end of the period were 769,258,946.62 yuan[18] - Accounts receivable at the end of the period were 342,709,919.93 yuan, an increase from 218,807,935.86 yuan at the beginning of the period[19]