关于浙江比依电器股份有限公司 2024 年度持续督导工作现场检查报告 根据《上海证券交易所上市公司自律监管指引第 11 号——持续督导》等有 关法律、法规的规定，中信证券股份有限公司（以下简称"中信证券"或"保荐 人"）作为正在对浙江比依电器股份有限公司（以下简称"比依股份""公司" "上市公司"）进行持续督导工作的保荐人，对 2024 年度（以下简称"本持续 督导期间"）的规范运作情况进行了现场检查，现就现场检查的有关情况报告如 下： （一）保荐人 中信证券股份有限公司 中信证券股份有限公司 一、本次现场检查的基本情况 （二）保荐代表人 唐青、马齐玮 （三）现场检查人员 唐青 （四）现场检查时间 唐青（2025 年 3 月 26 日、2025 年 4 月 10 日至 2025 年 4 月 11 日） （五）现场检查内容 现场检查人员对本持续督导期内发行人公司治理和内部控制情况、信息披露 情况、公司的独立性以及与控股股东、实际控制人及其他关联方资金往来情况、 募集资金使用情况、关联交易、对外担保、重大对外投资情况、经营状况等方面 进行了现场检查，具体检查内容详见本报告"二、本次现场检查主要事项及意见"。 1 ...

浙江比依电器股份有限公司 2024年年度股东会会议资料 浙江比依电器股份有限公司 2024年年度股东会会议资料 股票简称：比依股份 股票代码：603215 2025年5月 浙江比依电器股份有限公司 2024年年度股东会会议资料 2024年年度股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上 市公司股东会规则》以及《浙江比依电器股份有限公司章程》等相关规定，浙江 比依电器股份有限公司（以下简称"公司"）特制定2024年年度股东会会议须知： 一、为确认出席会议的股东或其代理人或其他出席者的出席资格，会议工 作人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次会议的严肃性和正常秩序，切实维护股东的合法权益，请 出席会议的股东或其代理人或其他出席者在会议召开前30分钟到达会场办理签到 手续，经验证后方可参会。会议开始后，在会议主持人宣布现场出席会议的股东和 代理人人数及所持有的表决权数量之前，会议登记应当终止。 三、会议按照会议通知所列的顺序审议、表决议案。 四、股东及股东代理人 ...

Core Viewpoint - The company reported a significant increase in revenue for 2024, but a decline in net profit, while Q1 2025 shows strong revenue growth and improved profitability metrics [1][2][3][4]. Financial Performance - In 2024, the company achieved total revenue of 2.059 billion yuan (+32.01%) and a net profit of 140 million yuan (-30.84%) [1]. - Q1 2025 revenue reached 530 million yuan (+65.68%) with a net profit of 15 million yuan (+47.96%) [1]. - The company plans to distribute a cash dividend of 0.30 yuan per share, totaling 56 million yuan, which is 40.01% of the net profit for 2024 [1]. Product Performance - The air frying segment saw rapid growth, with revenues from air fryers, coffee machines, and other environmental appliances reaching 1.813 billion, 125 million, and 27 million yuan respectively, with notable growth in coffee machines (+103.40%) [2]. - Domestic and international revenues were 143 million and 1.899 billion yuan respectively, both showing strong growth [2]. Operational Efficiency - The company's gross margin for Q1 2025 was 12.70%, a slight decrease from the previous quarter, attributed to a higher proportion of low-margin products [3]. - The net profit margin for Q1 2025 was 2.57%, showing a smaller decline compared to the previous quarter [3]. - Management expenses have been optimized, with a decrease in management expense ratio, indicating improved operational efficiency [3]. Industry Outlook - The air frying industry is facing cyclical adjustments, but the coffee machine market presents significant growth opportunities [4]. - The company is expanding its product matrix and has a stable customer base, with expectations for gradual volume growth in coffee machines [4]. - The construction of a smart factory is progressing, enhancing the company's ability to manage international trade risks and support revenue growth [4]. Profit Forecast - The company’s projected net profits for 2025-2027 are 179 million, 220 million, and 262 million yuan, with corresponding EPS of 0.95, 1.17, and 1.39 yuan [4].

浙江比依电器股份有限公司 2025年第二次临时股东会会议资料 浙江比依电器股份有限公司 2025年第二次临时股东会会议资料 股票简称：比依股份 股票代码：603215 2025年4月 浙江比依电器股份有限公司 2025年第二次临时股东会会议资料 浙江比依电器股份有限公司 2025年第二次临时股东会 会议资料目录 | 一、2025 | 年第二次临时股东会须知 1 | | --- | --- | | 二、2025 | 年第二次临时股东会会议议程 3 | | 三、2025 | 年第二次临时股东会议案 4 | | | （一）《关于与控股股东共同投资参与设立私募基金的关联交易的议案》 4 | 浙江比依电器股份有限公司 2025年第二次临时股东会会议资料 2025年第二次临时股东会会议须知 为了维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证会 议的顺利进行，根据《中华人民共和国公司法》、《中华人民共和国证券法》、《上 市公司股东大会规则》以及《浙江比依电器股份有限公司章程》等相关规定， 浙江比依电器股份有限公司（以下简称"公司"）特制定2025年第二次临时股东会会 议须知： 一、为确认出席会议的股东或其代理 ...

Investment Rating - The investment rating for the company is "Accumulate" [7] Core Views - The company achieved a revenue of 2.059 billion yuan in 2024, representing a year-on-year increase of 32.01%, while the net profit attributable to the parent company was 140 million yuan, a decrease of 30.84% [1] - The company is expanding into new product categories, particularly in the environmental appliance sector, which generated revenue of 27.0187 million yuan, accounting for 1.32% of total revenue [1] - The company is actively increasing its overseas production capacity, with the first phase of its factory in Thailand already in operation [1] Financial Performance - The gross margin for 2024 was 15.55%, down 5.67 percentage points year-on-year, while the net margin was 6.45%, down 6.47 percentage points [2] - The company’s revenue for Q4 2024 was 579 million yuan, a year-on-year increase of 93.11%, with a net profit of 38 million yuan, up 44.53% [1] - The company’s revenue for Q1 2025 is projected to be 530 million yuan, a year-on-year increase of 65.68% [1] Expense Ratios - The sales expense ratio for 2024 was 1.46%, an increase of 0.35 percentage points year-on-year, while the management expense ratio was 3.12%, a slight decrease of 0.04 percentage points [3] - The financial expense ratio for 2024 was -0.93%, reflecting an increase due to higher loan interest [3] Future Projections - The company expects net profits attributable to the parent company to be 170 million yuan in 2025, 200 million yuan in 2026, and 230 million yuan in 2027 [4] - The projected revenue growth rates for 2025, 2026, and 2027 are 26.60%, 24.93%, and 22.86%, respectively [5] Valuation Metrics - The dynamic price-to-earnings (PE) ratios are projected to be 16.8x for 2025, 14.1x for 2026, and 12.2x for 2027 [4] - The company’s earnings per share (EPS) is expected to be 0.90 yuan in 2025, 1.07 yuan in 2026, and 1.24 yuan in 2027 [5]

Investment Rating - The investment rating for the company is maintained at Buy-A with a target price of 18.72 CNY for the next six months [4]. Core Insights - The company reported a significant revenue growth of 32.0% year-on-year, reaching 2.06 billion CNY in 2024, despite a decline in net profit by 30.8% to 140 million CNY [2][3]. - The first quarter of 2025 showed a revenue increase of 65.7% year-on-year, amounting to 530 million CNY, with a net profit of 20 million CNY, reflecting a 48.0% increase [2][3]. - The company is focusing on deepening relationships with existing clients and expanding its customer base, which is expected to sustain rapid revenue growth [2]. Financial Performance Summary - The company achieved a revenue of 5.8 billion CNY in Q4 2024, marking a 93.1% increase year-on-year, while the net profit for the same quarter was 40 million CNY, up 44.5% [2]. - The gross margin for Q1 2025 decreased by 0.3 percentage points year-on-year, attributed to the optimization of the product mix, particularly in air fryer products [3]. - The operating cash flow for Q1 2025 increased by 10 million CNY year-on-year, driven by higher sales revenue [3]. Earnings Forecast - The projected earnings per share (EPS) for the company are 0.94 CNY, 1.20 CNY, and 1.54 CNY for the years 2025, 2026, and 2027 respectively [3][8]. - The expected revenue growth rates for the upcoming years are 30.7% in 2025, 26.5% in 2026, and 27.2% in 2027 [8][14]. Market Position - The company is positioned in the first tier of the heating kitchen small appliance OEM industry, with strong capabilities in research and development, cost control, and production delivery [3]. - The company has successfully expanded its client base to include well-known brands such as Philips and SharkNinja, and is entering new product categories like coffee machines [3].

Investment Rating - The investment rating for the company is "Outperform" [1] Core Insights - The company reported a revenue of 2.059 billion yuan in 2024, a year-on-year increase of 32%, while the net profit attributable to shareholders decreased by 31% to 140 million yuan [4][7] - In Q1 2025, the company achieved a revenue of 530 million yuan, representing a 66% year-on-year growth, and a net profit of 15 million yuan, up 48% year-on-year [4][7] - The company is expanding its product lines, particularly in air fryers, and has initiated production for new products such as coffee machines and ice makers [7] - The gross margin for Q1 2025 was 12.7%, a slight decrease of 0.25 percentage points year-on-year, but is expected to improve as new products gain traction [7] Financial Summary - The total revenue for 2025 is projected to be 2.441 billion yuan, with a year-on-year growth rate of 18.6% [6] - The net profit for 2025 is estimated at 195 million yuan, reflecting a growth of 39.4% compared to 2024 [6] - The earnings per share for 2025 is forecasted to be 1.03 yuan, with a projected price-to-earnings ratio of 15 [6]

证券代码：603215 证券简称：比依股份 公告编号：2025-021 浙江比依电器股份有限公司 关于回购注销部分限制性股票的公告 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。 浙江比依电器股份有限公司（以下简称"公司"）于2025年4月24日召开了 第二届董事会第二十二次会议和第二届监事会第十五次会议，审议通过了《关于 回购注销部分限制性股票的议案》，拟回购注销560,448股限制性股票。现将相关 事项说明如下： 一、公司2023年限制性股票激励计划审批程序及实施情况 （一）2023年3月20日，公司召开第一届董事会第十九次会议，审议通过了 《关于<公司2023年限制性股票激励计划（草案）>及其摘要的议案》《关于<公 司2023年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大会 授权董事会办理公司股权激励相关事宜的议案》。公司独立董事就本激励计划是 否有利于公司的持续发展及是否存在损害公司及全体股东利益的情形发表了独 立意见。同日，公司召开第一届监事会第十三次会议，审议通过了《关于<公司 2023年限制性股票 ...

浙江比依电器股份有限公司 关于回购注销部分限制性股票通知债权人的公告 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。 一、通知债权人的原由 浙江比依电器股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召开 了第二届董事会第二十二次会议，会议审议通过《关于回购注销部分限制性股票 的议案》，鉴于公司 2023 年限制性股票激励计划（以下简称"激励计划"）首次 授予的 7 名激励对象因个人原因离职，已不再符合激励条件，董事会按照公司 2023 年第一次临时股东大会的授权，决定对其已获授但尚未解除限售的 20,770 股限制性股票进行回购注销；鉴于 2024 年度经审计公司首次授予和预留授予第 二个解除限售期业绩考核不达标，公司须按规定回购注销对应考核当年可解除限 售的限制性股票，合计 169 名激励对象 539,678 股限制性股票。 公司因前述两个原因，须对所涉及的共计 176 名激励对象 560,448 股限制性 股票进行回购注销（以下统称"本次回购"）。具体内容详见公司于同日在上海证 券交易所网站（http: ...

根据《上市公司独立董事管理办法》《上海证券交易所股票上市规则》《上市 公司自律监管指引第 1 号——规范运作》等要求，浙江比依电器股份有限公司（以 下简称"公司"）董事会，就公司在任独立董事徐群、朱容稼、陈海斌的独立性情 况进行评估并出具如下专项意见： 经核查，独立董事徐群、朱容稼、陈海斌的任职经历以及签署的相关自查文 件，上述人员未在公司担任除独立董事以外的任何职务，也未在公司主要股东公 司担任任何职务，与公司以及主要股东之间不存在利害关系或其他可能妨碍其进 行独立客观判断的关系。因此，公司独立董事符合《上市公司独立董事管理办法》 《上海证券交易所股票上市规则》《上市公司自律监管指引第 1 号——规范运作》 等规定对独立董事独立性的相关要求。 浙江比依电器股份有限公司董事会 关于独立董事独立性自查情况的专项报告 浙江比依电器股份有限公司董事会 2025 年 4 月 24 日 ...