生 开关·爱眼照明 10户中国家庭 7户用公牛 10户中国家庭 十六十 7户用公牛 安全用电影家 半旗舰店 1000+ 全国线下公牛值观赏 88 8 m 到店体验 一站购齐 即买即装 O 00 DIY [ 专属导购 无忧售后 DIY理想家 据家的电器的代理律师柏伟介绍，家的电器已就公牛集团提起的诉讼提出管辖权异议，目前该案处于管 辖权异议处理阶段。此外，家的电器已向中山市第二人民法院提起独立诉讼，指控该广告存在合规性疑 问，涉嫌虚假宣传和不正当竞争，法院已于2026年1月16日正式受理此案。（智通财经） " 10 户中国家庭 7户用公牛 电话:166683936 #被公牛起诉索赔420万公司提起反诉#【质疑公牛广告语被起诉索赔420万，涉事公司已提起反诉】广东 中山市家的电器有限公司多个销售人员此前在社交平台发布视频，称公牛集团的"10户中国家庭，7户用 公牛"宣传语是"大字吹牛、小字免责"，存在误导性宣传。之后，公牛集团已起诉家的电器，提出索赔 420万元。该事件被曝光后，引起外界广泛讨论。 2026年1月21日，针对该事件，家的电器在广州召开媒体沟通会。面对"蹭流量"的质疑，家的电器创始 人、总经理匡建回 ...

Core Viewpoint - Bull Group Co., Ltd. has completed the registration of changes in business operations, including the cancellation of the supervisory board, changes in registered capital, address, and business scope, and has received a new business license [1][2]. Group 1: Corporate Changes - The company held meetings on October 30, 2025, and November 18, 2025, to approve the cancellation of the supervisory board and changes to registered capital, address, and business scope [1]. - The new registered capital is 1.80799538 billion yuan [1]. - The company has obtained a new business license from the Ningbo Market Supervision Administration [1]. Group 2: Business Scope - The company's business scope includes manufacturing and research in various sectors such as electrical equipment, hardware products, software development, and new energy equipment [1]. - Specific areas of manufacturing include power distribution and control equipment, lighting fixtures, and electric appliances [1]. - The company is also involved in technology services, market research, and investment activities [1].

公牛集团股份有限公司 章程 二〇二六年一月 | 第一章 | 总则 1 | | | --- | --- | --- | | 第二章 | 经营宗旨和范围 2 | | | 第三章 | 股份 2 | | | 第一节 | 股份发行 | 2 | | 第二节 | 股份增减和回购 | 4 | | 第三节 | 股份转让 | 5 | | 第四章 | 股东和股东会 6 | | | 第一节 | 股东 | 6 | | 第二节 | 股东会的一般规定 | 9 | | 第三节 | 股东会的召集 | 12 | | 第四节 | 股东会的提案与通知 | 13 | | 第五节 | 股东会的召开 | 14 | | 第六节 | 股东会的表决和决议 | 17 | | 第五章 | 董事会 | 21 | | 第一节 | 董事 | 21 | | 第二节 | 董事会 | 24 | | 第三节 | 独立董事 | 29 | | 第四节 | 董事会专门委员会 | 32 | | 第六章 | 总经理（总裁）及其他高级管理人员 33 | | | 第七章 | 财务会计制度、利润分配和审计 35 | | | 第一节 | 财务会计制度 | 35 | | 第二节 | 内部审计 | ...

证券代码：603195 证券简称：公牛集团 公告编号：2026-002 公牛集团股份有限公司 注册资本：壹拾捌亿零柒佰玖拾万玖仟伍佰叁拾捌元 类型：其他股份有限公司(上市) 成立日期：2008 年 01 月 18 日 法定代表人：阮立平 关于完成工商变更登记并换发营业执照的公告 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。 公牛集团股份有限公司（以下简称"公司"）分别于 2025 年 10 月 30 日和 2025年11月18 日召开第三届董事会第十三次会议和2025年第二次临时股东会， 审议通过了《关于取消监事会、变更注册资本及住所、修改经营范围并修订<公 司章程>的议案》，具体内容详见公司于 2025 年 10 月 31 日在上海证券交易所网 站（www.sse.com.cn）及指定信息披露媒体发布的《关于取消监事会、变更注册 资本及住所、修改经营范围并修订<公司章程>的公告》（公告编号：2025-079）。 近日，公司完成了上述事项的工商变更登记手续，并取得了宁波市市场监督 管理局换发的《营业执照》，公司注册资本、住所 ...

Investment Rating - The report maintains a "Recommend" rating for the home appliance industry [1] Core Insights - The industry is at a turning point, with expectations for improved performance in 2026 as domestic demand stabilizes and export orders recover [35] - The report highlights the resilience of leading companies in the white goods sector, with a focus on their ability to navigate through challenging market conditions [7][10] - The overall market dynamics indicate a potential for growth in emerging markets, alongside innovation and product expansion in domestic markets [35] Summary by Sections 1. White Goods - External sales are recovering steadily, while internal sales are expected to remain stable in Q4 2025. Leading companies are well-positioned to benefit from favorable demand and cost environments [7][10] - Q4 2025 internal sales for air conditioners, refrigerators, and washing machines are projected to decline by 31%, 11%, and 6% respectively, due to high base effects from the previous year [10] - External sales for refrigerators and washing machines are expected to show modest growth, with a 3% increase for refrigerators and a 9% increase for washing machines [10] 2. Black Goods - The report indicates that the color TV market is under pressure, with internal sales declining significantly due to high base effects from previous subsidies [15] - External sales remain relatively stable, with a slight decline of 2% expected in Q4 2025 [15][16] - Leading brands are expected to improve their profitability through product innovation and market share gains [15] 3. Cleaning Appliances - External sales continue to grow, while internal sales face challenges due to high base effects from previous subsidies [19] - The report notes a decline in retail sales for floor cleaning machines and washing machines, with internal sales dropping by 25% and 8% respectively [20] - The external market shows strong growth, particularly in Europe and Asia-Pacific, although competition remains intense [21] 4. Small Appliances - Domestic prices are rising, but external demand remains weak, with overall growth in retail sales expected to be between 0-10% [30] - The report highlights structural improvements in pricing and product upgrades, which may support profit margins in the domestic market [30] - External sales are under pressure due to overall weak demand in international markets [30] 5. Post-Cycle - The report indicates a downturn in demand for major kitchen appliances, with significant declines in retail sales across various categories [33] - The real estate market remains sluggish, impacting demand for kitchen appliances, and the report anticipates continued pressure on sales [33] - The upcoming subsidy policies are expected to have limited coverage, which may further affect market dynamics [33] 6. Industry Views and Investment Recommendations - The report suggests that the home appliance sector is poised for recovery in 2026, with expectations for improved fundamentals and potential surprises in export performance [35] - Recommended stocks include leading white goods manufacturers such as Midea Group, Haier Smart Home, Gree Electric, and Hisense Home Appliances, as well as TV manufacturers like Hisense Visual and TCL Electronics [35]

Core Insights - The Qingdao Municipal Market Supervision Administration announced that all five batches of automatic rice cookers tested in the third batch of industrial product quality supervision in 2025 passed the quality inspection [2][3] Group 1: Testing Results - A total of five batches of automatic rice cookers were sampled, with three from the production sector and two from the circulation sector [3] - No non-compliance items were found during the inspection, indicating a high level of product quality in the tested batches [3] Group 2: Product Details - The tested products included various models from different manufacturers, such as IH electric rice cookers from Qingdao Fuku Electronics and luxury smart rice cookers from Supor [3] - The inspection covered products from both production and circulation fields, ensuring comprehensive quality oversight [3]

Core Viewpoint - The company, Bull Group Co., Ltd., has decided to change the purpose of certain repurchased shares and proceed with their cancellation, which will reduce the registered capital and total share capital of the company [2][7]. Summary by Sections 1. Repurchase Share Basic Information - The company approved a repurchase plan on April 25, 2024, to buy back shares using its own funds, initially intended for employee stock incentive plans [3]. - The company completed the 2024 repurchase plan by acquiring 3,925,383 shares, representing 0.30% of the total share capital, with a total expenditure of approximately RMB 324.9973 million [3]. - The 2025 repurchase plan was approved on April 23, 2025, with a total of 5,036,025 shares repurchased, accounting for 0.28% of the total share capital, at a total cost of approximately RMB 250.2001 million [5]. 2. Cancellation of Repurchased Shares - The company plans to cancel 63,890 shares from the repurchase accounts, which is 0.004% of the total share capital before cancellation, changing the total share capital from 1,807,973,428 shares to 1,807,909,538 shares [2][7]. - The cancellation process is scheduled to be completed by January 7, 2026, and complies with relevant legal requirements [2][8]. 3. Impact on Share Structure - Following the cancellation, the company's total share capital will be adjusted, but the ownership structure will remain compliant with listing requirements, and the proportion held by major shareholders will increase without crossing significant thresholds [9][10]. - The cancellation is not expected to have a significant impact on the company's financial status, operational results, or debt repayment capabilities [10]. 4. Future Arrangements - The company will undertake necessary legal registrations and disclosures following the completion of the share cancellation [10].

重要内容提示： 公牛集团股份有限公司（以下简称"公司"）于2025年10月30日、2025 年11月18日分别召开第三届董事会第十三次会议、2025年第二次临时股东会，审 议通过了《关于变更回购股份用途并注销的议案》，公司拟对2024年度回购计划、 2025年度回购计划回购专用证券账户中的63,890股用途进行变更，将"用于实施 公司股权激励计划及员工持股计划"变更为"用于注销并减少注册资本"。本次 注销部分回购股份63,890股，占注销前总股本的0.004%。本次部分回购股份注销 完成后，公司总股本将由1,807,973,428股变更为1,807,909,538股。 本次回购股份注销事宜计划于2026年1月7日办理完成，本次回购股份注 销手续符合法律法规相关要求。 一、回购股份的基本情况 （一）2024年度回购计划 2024年4月25日，公司召开第三届董事会第二次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金以集中竞 价交易的方式回购公司股份（以下简称"2024年度回购计划"）。2024年度回购 计划的股份拟用于实施公司股权激励计划及员工持股计划，具体内容详见公司于 ...

Group 1 - The core viewpoint of the article is that Bull Group acknowledges that stock prices are influenced by various factors and emphasizes its commitment to steady operations and enhancing intrinsic value and brand image to provide good returns to investors [2] Group 2 - The company reassures investors that it will continue to focus on robust management practices [2] - Bull Group aims to improve its corporate value and brand reputation consistently [2] - The company expresses its intention to reward investors with favorable shareholder returns [2]

Group 1 - The core viewpoint of the articles is that the market capitalization of A-share listed companies in Zhejiang Province increased by 23,386 billion yuan in 2025, representing a growth of 34.01% compared to the beginning of the year [1][2] - Leading companies contributed significantly to the market capitalization increase, with Sanhua Intelligent Controls, Century Huatong, Huayou Cobalt, Wolong Electric Drive, and Top Group contributing 1,450 billion yuan, 874 billion yuan, 798 billion yuan, 543 billion yuan, and 515 billion yuan respectively, accounting for a total of 17.88% of the overall increase [1][2] - The companies with the most significant market capitalization reduction in Zhejiang Province were Bull Group, Samsung Medical, Hikvision, Zhejiang Energy Power, and Flat Glass, with each experiencing a decline of no more than 20 billion yuan [1][2]