Executive Summary
Shanghai Metersbonwe Fashion & Accessories Co. Ltd. (stock code 002269) reported its 2025 third‑quarter results on 31 October 2025. The period was marked by significant shareholder turnover, a notable net inflow from large‑block investors on 29 October, and a financing purchase on 28 October. The company’s share price closed at 2.46 CNY on 29 October, within the 52‑week range of 1.48–3.23 CNY, and its market capitalization stood at 6.14 billion CNY. The earnings‑per‑share ratio was negative, reflecting a loss‑making period.
Q3 2025 Results
- The company released its third‑quarter earnings report on 31 October 2025 (link to the PDF is provided in the source).
- While the report’s detailed financial figures are not included in the provided text, the release coincides with a 3.90 % increase in the share price on 29 October, indicating positive market reception.
Shareholder Turnover
New Top‑10 Holders (as of 30 October)
| Investor | Shares Held | % of Circulating Shares |
|---|---|---|
| Shanghai Huixiu Private‑Fund Management Co., Ltd. – Huixiu Yingyu No. 7 Hybrid Private‑Fund | 47.21 million | 1.88 % |
| Shanghai Huixiu Private‑Fund Management Co., Ltd. – Huixiu Yingyu No. 3 Hybrid Private‑Fund | 35.75 million | 1.42 % |
| CITIC Securities Asset Management (Hong Kong) Co., Ltd. – Client Funds | 32.02 million | 1.27 % |
| Shanghai Huixiu Private‑Fund Management Co., Ltd. – Huixiu Yingyu No. 8 Hybrid Private‑Fund | 24.24 million | 0.96 % |
| Guan Hai‑guo | 21.91 million | 0.87 % |
| Yu Xiaodong | 16.99 million | 0.68 % |
Exit Top‑10 Holders (as of 30 October)
| Investor | Shares Held | % of Circulating Shares |
|---|---|---|
| Xing Zhu Mei | 8.25 million | 0.33 % |
| Lin Dan Li | 6.32 million | 0.25 % |
| Yang Nian Jin | 5.47 million | 0.22 % |
| Zhou Zheng Yi | 4.86 million | 0.19 % |
| Barclays Bank PLC | 4.37 million | 0.17 % |
| Li Chao | 4.37 million | 0.17 % |
Self‑Held Share Changes
- Hong Kong Central Settlement Co., Ltd. increased its self‑held shares by 59.99 % to 25.30 million shares.
- Shenzhen Gaosheng Asset Management Co., Ltd. – Gaosheng Luming Start‑Up Private‑Fund reduced its self‑held shares by 67.35 % to 4.10 million shares.
Market Activity
- Net Large‑Block Inflow (29 October) – 5.365 million CNY in net inflow, a 3.90 % price rise, and a net‑inflow ratio of 0.91 % relative to the circulating share base.
- Financing Purchase (28 October) – 31.26 million CNY was financed, increasing the outstanding financing balance to 153 million CNY (2.63 % of the circulating market value), above the 60 % historical percentile.
- No significant short‑selling activity was recorded during the same period.
Strategic Initiatives
A public interview with founder Zhou Cheng‑Jian on 29 October highlighted a “return‑to‑roots” strategy:
- Retail Model – Shift to a deep‑integration online‑offline (O2O) new‑retail model.
- Brand Revitalisation – Direct engagement through live streaming to reconnect with legacy customers while courting younger demographics.
- Product & Channel Expansion – Explore new apparel categories and enhance global distribution to reposition the brand on the Asian market stage.
- Cost Discipline – Adopt a “zero‑baseline” operating mindset to curb over‑expansion and realign the brand’s core identity.
Financial Position
| Item | Value |
|---|---|
| Close Price (29 Oct 2025) | 2.46 CNY |
| 52‑Week High | 3.23 CNY |
| 52‑Week Low | 1.48 CNY |
| Market Capitalisation | 6.14 billion CNY |
| Price‑to‑Earnings Ratio | –23.56 |
The negative P/E reflects the company’s loss status for the period, while the share price movement suggests investor confidence in the announced strategic adjustments.
