冠豪高新（600433）公告，公司董事会于2025年5月6日收到王昕先生的书面辞职申请。王昕先生因工作 调整原因辞去公司董事、董事会薪酬与考核委员会委员职务。辞职后，王昕先生将不再担任公司任何职 务。王昕先生未持有公司股票，与公司无任何意见分歧。公司将尽快补选董事。 ...

Investment Rating - The report indicates a positive outlook for the home furnishing sector, driven by domestic consumption stimulus and the gradual recovery of retail channels [1]. Core Insights - The report highlights that the domestic consumption stimulus is beginning to show effects, with a notable recovery in retail channels, while export conditions are experiencing marginal declines [1][3]. - The performance of leading companies in the home furnishing sector is improving, particularly in the context of national subsidies and strategic adjustments [1][3]. Summary by Sections 1. Home Furnishing - Domestic sales show signs of recovery with a year-on-year revenue change of -12.44% in Q4 2024 and +1.75% in Q1 2025, while net profit for the same periods changed from -54.11% to +7.07% [13]. - Export performance for the furniture sector saw a cumulative year-on-year increase of +5.8% for 2024 but a decline of -8.0% in Q1 2025, indicating a downward trend in export conditions [13]. - The report anticipates that the domestic market will continue to recover in the short term due to national subsidy policies, while the export market may face ongoing pressures [13]. 1.1 Domestic - Custom Home Furnishing - Retail channels are showing marginal improvements, while bulk channels remain under pressure, with leading companies like Oppein and Sophia experiencing reduced revenue declines in Q1 2025 compared to previous quarters [20]. - The profitability of leading companies is improving, with a focus on cost control and product development, while second and third-tier brands may struggle to maintain performance [26]. - Prepayment and cash flow indicators show improvements for some leading companies, suggesting a gradual recovery in demand [38]. 1.2 Domestic - Soft Home Furnishing - The soft home furnishing sector is under pressure due to real estate downturns and changing consumer spending patterns, but companies like Kuka and Mengbaihe are showing signs of recovery [39]. - Profit margins are improving in Q1 2025 compared to 2024, with notable changes in gross and net profit margins across leading companies [44]. - Prepayment figures for soft home furnishing companies are showing positive growth, indicating a recovery in domestic demand [46]. 1.3 Export Home Furnishing - The overall export climate is declining, with a significant drop in cumulative export value in Q1 2025, reflecting challenges in the international market [51][53]. - Despite the overall decline, leading companies are still managing to perform well, showcasing resilience and strategic advantages [51].

2024 可持续发展报告 SUSTAINABILITY REPORT 广东冠豪高新技术股份有限公司 为员工提供平台，为社会创造价值 关于本报告 报告说明 本报告是广东冠豪高新技术股份有限公司发布的 2024 年度可持续发展报告。报告的编制参考《上海证券交易所上 市公司自律监管指引第 14 号——可持续发展报告（试行）》（简称《指引第 14 号》）、全球报告倡议组织（GRI）《可 持续发展报告指南》、国际财务报告准则 2 号——气候相关披露（IFRS S2）、央企控股上市公司 ESG 专项报告 参考指标，并与联合国可持续发展目标（SDGs）进行了对标。若无特殊说明，报告中涉及金额均以人民币为单位。 指代说明 为便于表述，本报告中广东冠豪高新技术股份有限公司也以"冠豪高新""公司"或"我们"表示。 时间范围 本报告为年度报告，报告的时间跨度为 2024 年 1 月 1 日至 2024 年 12 月 31 日，部分表述及数据适 当追溯以往年份。其中，华新（佛山）彩色印刷有限公司于 12 月份完成 100% 股权转让，本次报告 的时间跨度为 2024 年 1 月 1 日到 2024 年 11 月 30 日。 组织范围 ...

证券代码：600433 证券简称：冠豪高新 公告编号：2025-021 广东冠豪高新技术股份有限公司 第九届董事会第五次会议决议公告 相关内容详见2025年4月30日刊登于上海证券交易所网站www.sse.com.cn 及《中国证券报》《上海证券报》《证券日报》《证券时报》的《冠豪高新 2024 年度可持续发展报告》。 （二）董事会以 9 票同意、 0 票反对、 0 票弃权审议通过了《关 于制定<产业培育管理办法>的议案》 本议案已经公司第九届董事会科技创新委员会2025年第一次会议审议通过。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 广东冠豪高新技术股份有限公司（以下简称"公司"）第九届董事会第五次 会议于2025年4月29日以现场结合通讯方式召开。会议通知及会议材料于2025年4 月21日以电子邮件方式送达各位董事。会议应参加董事9人，实际参加董事9人， 会议通知和召开程序符合《公司法》及《公司章程》的有关规定，本次会议由公 司董事长李飞先生主持。 二、董事会会议审议情况 （一）董事会以 9 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025年4月25日(星期五)上午09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于2025年4月18日（星期五）至4月24日（星期四）16:00前登录上证路演中心网站首页点击"提 问预征集"栏目或通过公司邮箱IR@guanhao.com进行提问。公司将在说明会上对投资者普遍关注的问题 进行回答。 广东冠豪高新技术股份有限公司（以下简称"公司"）于2025年4月15日发布公司2025年第一季度报告， 为便于广大投资者更全面深入地了解公司2025年第一季度经营成果、财务状况，公司计划于2025年4月 25日上午09:00-10:00举行2025年第一季度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对2025年第一季度的 ...

证券代码：600433 证券简称：冠豪高新 公告编号：2025-020 广东冠豪高新技术股份有限公司 关于召开 2025 年第一季度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 4 月 25 日(星期五)上午 09:00-10:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 三、参加人员 董事长：李飞 投资者可于 2025 年 4 月 18 日（星期五）至 4 月 24 日（星期四）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@guanhao.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 广东冠豪高新技术股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日 发布公司 2025 年第一季度报告，为便于广大投资者更全面深入地了解公司 2025 年 ...

近期冠豪高新（600433）发布2025年一季报，证券之星财报模型分析如下： 现金流状况 每股经营性现金流为-0.46元，同比减少了127.95%，这表明公司在经营活动中的现金流出大于流入，现 金流状况不容乐观。 商业模式与资本结构 盈利能力分析 从毛利率和净利率来看，公司的毛利率为9.15%，同比减少了34.79%，净利率则降至0.06%，同比减少 了97.13%。这些数据反映出公司在主营业务上的盈利能力有所减弱。 成本与费用控制 尽管公司试图控制成本，但三费(销售费用、管理费用、财务费用)总计达到了8754.6万元，占营收的比 例为5.62%，同比增加了23.56%。这表明公司在费用控制方面面临一定挑战。 资产与负债状况 截至报告期末，公司的货币资金为7.07亿元，较去年同期减少了17.45%。应收账款为8亿元，同比减少 了10.06%。然而，有息负债却增至30.08亿元，同比增长了14.55%。这显示出公司在资金流动性方面存 在一定的压力。 经营业绩概览 冠豪高新在2025年一季度的财务报告显示，公司营业总收入为15.57亿元，较去年同期下降了7.88%。归 母净利润仅为64.72万元，同比大幅下降98 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600433 证券简称：冠豪高新 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，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。 √适用 □不适用 单位:元 币种:人民币 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息的真 实、准确、完整。 第一季度财务报表是否经审计 □是 √否 一、 主要财务数据 (一) 主要会计数据和财务指标 单位：元 币种：人民币 (二) 非经常性损益项目和金额 (一) 普通股股东总数和表决权恢复的优先股股东数量及前十名股东持股情况表 单位：股 持股5%以上股东、前10名股东及前10名无限售流通股股东参与转融通业务出借股份情况 对公司将《公开发行证券的公司信息披露解释性公告第1号——非经常性损益》未列举的项目认定为非 经常性损益项目且金额重大的，以及将《公开发行证券的公司信息披露解释性公告第1 ...

Investment Rating - The report does not explicitly provide an investment rating for the industry or specific stocks Core Insights - The 'national team', represented by Central Huijin, is actively increasing its ETF holdings to stabilize the capital market and rebuild investor confidence, which has positively impacted market sentiment and led to a rebound in the A-share market [2][10][11] - Central Huijin's financial strength and access to liquidity support from the People's Bank of China (PBoC) enable it to significantly increase its market position in extreme scenarios [3][17][20] - The national team's ETF purchases in 2024 reached over RMB 770 billion, indicating a substantial commitment to maintaining market stability [4][33] Summary by Sections National Team's Role - Central Huijin has positioned itself as a "quasi-stabilisation fund" in the capital market, demonstrating its resolve to maintain stability through increased ETF holdings [2][10] - The national team's actions have led to a notable increase in trading volumes of various A-share ETFs since early April 2025 [11][12] Market Impact - The national team's ETF purchases were primarily concentrated in the CSI 300 index, which accounted for 71% of its total net inflow in 2024 [5][10] - The turnover of CSI 500 and CSI 1000 ETFs saw significant increases of 397% and 732% respectively compared to daily averages from the previous year, indicating heightened market activity [5][11] State-Owned Capital Involvement - State-owned capital operation platforms, such as China Chengtong and China Reform, have announced plans to increase their A-share holdings through ETFs, further supporting market stability [21][22] - These platforms are utilizing substantial relending funds (RMB 100 billion and RMB 80 billion respectively) for stock repurchases, indicating a coordinated effort to bolster the market [22][23] Historical Context - The national team's previous interventions, such as in 2015, involved significant market purchases, with aggregate shareholdings exceeding RMB 1.24 trillion, highlighting its historical role in stabilizing the market during downturns [4][39]

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,556,747,867.82, a decrease of 7.88% compared to ¥1,689,920,766.05 in the same period last year[4] - Net profit attributable to shareholders was ¥647,162.10, down 98.48% from ¥42,530,139.52 year-on-year[4] - Basic earnings per share decreased by 98.26%, from ¥0.0230 to ¥0.0004[4] - Total operating revenue for Q1 2025 was CNY 1,556,747,867.82, a decrease of 7.86% compared to CNY 1,689,920,766.05 in Q1 2024[19] - Net profit for Q1 2025 was CNY 964,525.86, significantly lower than CNY 36,547,167.23 in Q1 2024, indicating a decline of 97.36%[21] Cash Flow - The net cash flow from operating activities was -¥798,791,037.23, representing a decline of 116.21% compared to -¥369,452,455.10 in the previous year[4] - The company reported a net cash outflow from operating activities of CNY -798,791,037.23 in Q1 2025, compared to CNY -369,452,455.10 in Q1 2024[23] - Cash inflow from investment activities was CNY 30,144,881.00 in Q1 2025, significantly lower than CNY 62,405,862.17 in Q1 2024[24] - Net cash flow from investing activities was -$101.84 million, compared to -$99.04 million in the previous period[25] - The net increase in cash and cash equivalents was -$497.89 million, compared to -$41.74 million in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period were ¥11,179,893,048.18, a slight decrease of 0.42% from ¥11,226,689,459.77 at the end of the previous year[5] - The company’s total liabilities amounted to CNY 4,928,078,206.30, slightly down from CNY 4,958,280,444.19 in the previous period[17] - Total equity decreased to CNY 6,251,814,841.88 from CNY 6,268,409,015.58, reflecting a decline of 0.27%[17] - Total current liabilities decreased slightly from 3,406,729,601.89 RMB to 3,398,409,291.92 RMB, a decrease of approximately 0.2%[16] - Long-term borrowings decreased from 1,512,114,226.69 RMB to 1,492,150,198.20 RMB, a reduction of about 1.4%[16] Shareholder Information - Total number of common shareholders at the end of the reporting period is 45,545[11] - The largest shareholder, Foshan Huaxin Development Co., Ltd., holds 370,009,058 shares, accounting for 21.14% of total shares[11] Research and Development - Research and development expenses decreased by 47.59% as R&D activities were reduced during the period[8] - Research and development expenses decreased to CNY 60,400,377.15 in Q1 2025 from CNY 115,240,260.28 in Q1 2024, a reduction of 47.5%[20] - The company has no significant new product launches or technological developments reported in the conference call[13] Market Activity - There are no major market expansions or acquisitions mentioned in the call[13] Financial Expenses - The company reported a significant increase in financial expenses by 129.94% due to increased loan scales and interest expenses[9] Cash and Cash Equivalents - The company's cash and cash equivalents decreased by 41.33% due to reduced cash inflows and increased payments[8] - The company's cash and cash equivalents decreased from 1,204,759,383.85 RMB to 706,867,799.43 RMB, a decline of approximately 41.4%[14][15] - The ending balance of cash and cash equivalents was $706.87 million, up from $488.83 million year-over-year[25] Accounting Standards - The company plans to implement new accounting standards starting in 2025, which may affect financial statements[25]