Group 1 - The core stock price of Lehui International (603076) closed at 24.59 yuan on October 13, 2025, down 0.41% with a turnover rate of 1.4% and a trading volume of 16,900 shares, amounting to a transaction value of 41.32 million yuan [1] - On October 13, 2025, the net outflow of main funds was 3.71 million yuan, accounting for 8.99% of the total transaction value, while retail investors had a net inflow of 5.30 million yuan, representing 12.83% of the total transaction value [1][3] - The company announced the use of 18 million yuan of temporarily idle raised funds for cash management, purchasing structured deposits from China Merchants Bank with an expected annual yield of 1.00% or 1.51% [1][3] Group 2 - The company has cumulatively used 371 million yuan of raised funds for entrusted wealth management in the past twelve months, with 225 million yuan of principal recovered and actual earnings of 1.85 million yuan [1] - As of the announcement date, there are 34 million yuan of unused wealth management quotas remaining [1]

证券代码：603076 证券简称：乐惠国际 公告编号：2025-053 宁波乐惠国际工程装备股份有限公司 关于使用暂时闲置募集资金进行现金管理的进展公告 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个别及连带责任。 重要内容提示： ●委托理财受托方：招商银行股份有限公司 ●本次委托理财金额：1,800 万元 为提高资金使用效率，合理使用闲置募集资金，在确保不影响募集资金投入 项目建设和不改变募集资金用途，并有效控制风险的情况下，公司拟利用闲置募 集资金进行现金管理，增加公司收益。 （二）资金来源 本次委托理财的资金全部来源于公司暂时闲置非公开发行股票募集资金。 经中国证券监督管理委员会"证监许可[2020]2505 号"《关于核准宁波乐惠 国际工程装备股份有限公司非公开发行股票的批复》核准，公司非公开发行普通 股（A 股）11,715,246 股，每股发行价为 35.68 元，募集资金总额为 417,999,977.28 元；扣除发行费用 13,809,194.11 元，募集资金净额为 404,190,783.17 元。众华会 计师事 ...

宁波乐惠国际工程装备股份有限公司 关于暂时闲置募集资金现金管理到期赎回的公告 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个别及连带责任。 证券代码：603076 证券简称：乐惠国际 公告编号：2025-052 二、截至本公告日，公司最近十二个月使用募集资金委托理财的情况 单位：万元 | | | | | | 尚未收回本金 | | --- | --- | --- | --- | --- | --- | | 序号 | 理财产品类型 | 实际投入金额 | 实际收回本金 | 实际收益 | 金额 | | 1 | 浙商银行单位结构性存款 （产品代码：EEQ24022UT） | 800 | 800 | 4.95 | 0 | | --- | --- | --- | --- | --- | --- | | | 浙商银行单位结构性存款 | | | | | | 2 | （产品代码：EEQ24022DT） | 800 | 800 | 4.95 | 0 | | 3 | 方正证券收益凭证金添利 | 10,000 | 10,000 | 118.98 | 0 | | ...

Group 1 - The company Ningbo Lehui International Engineering Equipment Co., Ltd. announced that its subsidiary Kunming Fresh Beer Thirty Kilometer Technology Co., Ltd. has recently recovered the principal and earned 45,100 yuan from a structured deposit with China Merchants Bank, which was purchased using 16 million yuan of idle raised funds [1] - In November 2024, the company was approved to manage idle raised funds of no more than 180 million yuan for a period of 12 months [1] - As of the announcement date, the company has cumulatively invested 353 million yuan in financial management over the past 12 months, recovering 225 million yuan of principal and earning 1.8524 million yuan, with 128 million yuan of principal yet to be recovered [1]

Investment Rating - The report assigns an "Accumulate" rating for the company, indicating a positive outlook based on its industry-leading position in equipment business and strong momentum in fresh beer operations [5][66]. Core Views - The company is a leading manufacturer in the beer equipment sector, known for its "turnkey" capabilities, which provide comprehensive solutions from design to installation, enhancing customer loyalty [7][10]. - The fresh beer segment is expected to drive significant growth, with a focus on differentiated products and a successful transition to a franchise model for its small bar operations [10][46]. - Revenue and profit forecasts indicate substantial growth, with projected net profits increasing significantly from 2025 to 2027, reflecting a strong recovery and expansion in both beer manufacturing and equipment sectors [6][64]. Summary by Sections Market Performance - As of September 18, 2025, the company's closing price is 25.31 RMB, with a total market capitalization of approximately 3,054.95 million RMB and a debt-to-asset ratio of 60.61% [3]. Financial Forecasts and Valuation - Revenue projections for 2025-2027 are estimated at 17.01 billion RMB, 18.87 billion RMB, and 20.12 billion RMB, with year-on-year growth rates of 14.12%, 10.97%, and 6.62% respectively [6][64]. - The expected net profits for the same period are 0.79 billion RMB, 0.98 billion RMB, and 1.23 billion RMB, with growth rates of 273.29%, 23.98%, and 26.45% respectively [6][64]. Business Overview - The company has established a robust presence in the beer equipment market, leveraging its technical expertise and extensive project experience to secure a strong order backlog [10][24]. - The company’s dual business model, combining equipment manufacturing and craft beer production, positions it well for future growth, particularly in the high-end beer segment [10][14]. Growth Drivers - The fresh beer segment is anticipated to grow significantly, supported by the successful launch of new products and the expansion of sales channels, including strategic partnerships with major retailers [10][49]. - The company has successfully developed a new type of draft beer machine, which is expected to enhance sales in the immediate consumption market [56][60]. Competitive Position - The company is recognized for its strong brand reputation and customer loyalty, having established long-term relationships with major players in the beer industry [10][34]. - The report highlights the company's unique "turnkey" service model as a competitive advantage, allowing it to meet the complex needs of beer manufacturers efficiently [31][32].

证券代码：603076 证券简称：乐惠国际 公告编号：2025-051 宁波乐惠国际工程装备股份有限公司 ●委托理财受托方：浙商银行股份有限公司 ●本次委托理财金额：1,800 万元 ● 委 托 理 财 产 品 名 称 ： 浙 商 银 行 单 位 结 构 性 存 款 （ 产 品 代 码 ： EEM25004DTSN）、浙商银行单位结构性存款（产品代码：EEM25004UTSN） ●委托理财期限：31 天 ●履行的审议程序：宁波乐惠国际工程装备股份有限公司（以下简称"公司" 或"乐惠国际"）于 2024 年 11 月 19 日召开了第四届董事会第一次会议、第四届 监事会第一次会议，审议通过了《关于使用暂时闲置募集资金进行现金管理的议 案》，同意公司及其子公司（含控股子公司）在确保不影响募集资金投资项目建 设和募集资金使用的情况下，使用最高不超过人民币 18,000 万元的暂时闲置非 公开发行股票募集资金进行现金管理。期限为 12 个月，资金额度在期限内根据 募集资金闲置情况循环使用。 一、公司前次使用暂时闲置募集资金购买理财产品到期赎回的情况 公司于 2025 年 6 月 12 日使用暂时闲置募集资金 1,80 ...

证券代码：603076 证券简称：乐惠国际 公告编号：2025-050 宁波乐惠国际工程装备股份有限公司 关于召开2025年半年度业绩说明会的预告公告 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： 投资者可于 2025 年 9 月 17 日 至 9 月 23 日 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 international@lehui.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。 宁波乐惠国际工程装备股份有限公司（以下简称"公司"）已于 2025 年 8 月 28 日发布了《公司 2025 年半年度报告》《公司 2025 年半年度报告摘要》。为 便于广大投资者更全面深入地了解公司 2025 年半年度业绩情况、经营成果及财 务状况，公司计划于 2025 年 9 月 24 日 11:00-12:00 举行 2025 年半年度业绩说 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 年半年 ...

Core Viewpoint - Lehui International (603076) experienced a decline in stock price and mixed capital flow, indicating potential challenges in market sentiment and operational performance [1][2]. Group 1: Stock Performance - As of September 10, 2025, Lehui International closed at 26.18 yuan, down 0.72% with a turnover rate of 0.99% and a trading volume of 12,000 hands, resulting in a transaction amount of 31.51 million yuan [1]. - Over the past five days, the stock has shown a downward trend, with a closing price of 26.37 yuan on September 9, down 1.53%, and a significant drop of 20.89% in main capital inflow on September 8 [2]. Group 2: Capital Flow Analysis - On September 10, 2025, the net outflow of main capital was 460.03 thousand yuan, accounting for 14.6% of the total transaction amount, while retail investors saw a net inflow of 405.28 thousand yuan, representing 12.87% of the total [1][2]. - The capital flow data for the last five days indicates a consistent trend of net outflows from main capital, with the highest outflow recorded at 1,137.53 thousand yuan on September 8 [2]. Group 3: Financial Performance - Lehui International reported a total market value of 3.16 billion yuan, with a net asset of 1.32 billion yuan and a net profit of 25.64 million yuan, ranking 203rd, 140th, and 136th respectively in the specialized equipment industry [3]. - The company's mid-year report for 2025 indicated a main revenue of 616 million yuan, a year-on-year decrease of 8.22%, while the net profit attributable to shareholders increased by 15.38% to 25.64 million yuan [3]. - The second quarter of 2025 saw a single-quarter main revenue of 409 million yuan, down 9.35%, with a net profit of 16.70 million yuan, reflecting a decline of 11.13% [3].

Group 1 - The Shanghai Composite Index closed at 3872.93 points, above the six-month moving average, with a gain of 0.39% [1] - The total trading volume of A-shares reached 228.56 billion yuan [1] - A total of 76 A-shares have surpassed the six-month moving average today, with notable stocks including Sanjiang Shopping, Jinyun Laser, and Kexin Machinery, showing divergence rates of 7.87%, 5.15%, and 5.13% respectively [1] Group 2 - The stocks with the highest divergence rates from the six-month moving average include: - Sanjiang Shopping: 10.03% increase, 4.63% turnover rate, latest price 11.96 yuan, divergence rate 7.87% [1] - Jinyun Laser: 6.03% increase, 6.89% turnover rate, latest price 17.76 yuan, divergence rate 5.15% [1] - Kexin Machinery: 5.96% increase, 12.01% turnover rate, latest price 13.51 yuan, divergence rate 5.13% [1] - Other notable stocks with smaller divergence rates include: - Sanbian Technology, Shanghai Ailu, and George White, which have just crossed the six-month moving average [1]

Financial Performance - The total revenue for Lehui International in the 2025 mid-term report was 616 million yuan, a decrease of 8.22% year-on-year [1] - The net profit attributable to shareholders was 25.64 million yuan, an increase of 15.38% year-on-year [1] - The gross profit margin was 25.63%, down 9.1% year-on-year, while the net profit margin increased by 11.01% to 3.92% [1] - The company reported a significant increase in accounts receivable, with accounts receivable amounting to 1792.99% of the net profit [1] Business Segments - The equipment segment showed stable performance with a profit of 96.38 million yuan, maintaining steady growth [4] - The fresh beer segment experienced a loss of 75.28 million yuan, despite a sales growth of 33.36% [4] - The fresh beer business is still in a loss phase but has shown signs of improvement with a first-quarter EBITDA profit of 2.02 million yuan [4][8] Market Strategy - The company is focusing on developing its fresh beer market by enhancing brand recognition through social media and expanding its distribution channels [6] - The fresh beer segment is implementing a light-asset model by franchising small taverns, reducing capital investment while leveraging brand advantages [5] - The company is also exploring high-end fresh beer ODM business opportunities, which have shown initial success [5] Financial Health - The company's cash flow situation is concerning, with cash and cash equivalents only covering 29.7% of current liabilities [3] - The interest-bearing debt ratio has reached 20.73%, indicating a need for careful debt management [3] - The company has a history of low return on invested capital (ROIC), with a median ROIC of 6.54% since its listing [3]