证券代码：603486 证券简称：科沃斯 公告编号：2025-082 转债代码：113633 转债简称：科沃转债 科沃斯机器人股份有限公司 关于 2024 年股票期权与限制性股票激励计划首次授予 限制性股票第一个解除限售期条件成就的公告 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： 一、2024 年股票期权与限制性股票激励计划批准及实施情况 1、2024 年 8 月 29 日，公司召开第三届董事会第二十次会议，会议审议通过 《关于公司<2024 年股票期权与限制性股票激励计划（草案）>及其摘要的议案》 《关于公司<2024 年股票期权与限制性股票激励计划实施考核管理办法>的议案》及 《关于提请股东大会授权董事会办理公司 2024 年股票期权与限制性股票激励计划 相关事宜的议案》，上述议案已经薪酬与考核委员会审议通过。 2、2024 年 8 月 29 日，公司召开第三届监事会第十四次会议，审议通过了《关 于公司<2024 年股票期权与限制性股票激励计划（草案）>及其摘要的议案》《关于 公司<2024 年股票期权 ...

转债代码：113633 转债简称：科沃转债 证券代码：603486 证券简称：科沃斯 公告编号：2025-079 科沃斯机器人股份有限公司 关于回购注销部分激励对象已获授但尚未解除限售的 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。 科沃斯机器人股份有限公司（以下简称"公司"）于 2025 年 10 月 24 日召开第 四届董事会第五次会议，审议通过《关于回购注销部分激励对象已获授但尚未解除限 售的限制性股票的议案》。鉴于公司 2024 年股票期权与限制性股票激励计划首次授 予和预留授予的张克亮等 46 名激励对象由于离职已不再具备《上市公司股权激励管 理办法》及公司《2024 年股票期权与限制性股票激励计划（草案）》的相关规定继 续参与公司激励计划的资格，公司拟对其持有的已获授但尚未解除限售的合计 243,400 股限制性股票予以回购注销。具体情况如下： 10、2025 年 9 月 3 日，公司披露了《关于部分股票期权注销完成的公告》，鉴 于公司 2024 年股票期权与限制性股票激励计划首次授予的 39 ...

中国上海石门一路 288 号兴业太古汇香港兴业中心一座 26 层 邮编：200041 电话：（86-21）5298 5488 传真：（86-21）5298 5492 junhesh@junhe.com 君合律师事务所上海分所 关于科沃斯机器人股份有限公司 2024 年股票期权与限制性股票激励计划 首次授予限制性股票第一个解除限售期解除限售条件成就的 法律意见书 科沃斯机器人股份有限公司： 君合律师事务所上海分所（以下简称"本所"）为具有从事法律业务资格的 律师事务所分所。本所接受科沃斯机器人股份有限公司（以下简称"公司"或 "科沃斯"）的委托，委派本所律师以特聘法律顾问的身份，就公司 2024 年股 票期权与限制性股票激励计划首次授予限制性股票第一个解除限售期解除限售 条件成就（以下简称"本次解除限售"）相关事宜出具本法律意见书。 本法律意见书系根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称"《证券法》"）、中国证券监督管理委员 会（以下简称"中国证监会"）颁布的《上市公司股权激励管理办法》（以下简 称"《管理办法》"）等在本法律意见书出具日以前中国（仅为出具本法 ...

Core Viewpoint - Ecovacs (603486.SH) reported a significant increase in net profit for the third quarter and the first three quarters of the year, driven by strong revenue growth in its home service robot business and improved profit margins [1] Financial Performance - The net profit for the third quarter reached 438 million yuan, representing a year-on-year increase of 7160.87% [1] - For the first three quarters, the net profit totaled 1.418 billion yuan, showing a year-on-year growth of 130.55% [1] Revenue Drivers - The overall revenue growth is attributed to the strong performance of the Ecovacs brand home service robot business [1] - The gross profit margin has improved year-on-year, contributing to the overall profit increase [1] - The company experienced a decrease in operating expense ratio compared to the previous year, further enhancing profitability [1] - Increased investment income also played a role in the profit growth [1]

科沃斯公告，第三季度营收为42.01亿元，同比增长29.26%；净利润为4.38亿元，同比增长7,160.87%。 前三季度营收为128.77亿元，同比增长25.93%；净利润为14.18亿元，同比增长130.55%。 ...

Group 1 - The core viewpoint of the article highlights the strong performance of brands like Stone Technology, Leader, and Hualing in the home appliance market, driven by targeted strategies that cater to the younger generation's consumption needs [1][3][4] - The top three brands in the heat index are Stone Technology with a score of 1.85, Leader at 1.66, and Hualing at 1.47, indicating a competitive landscape in the home appliance sector [2][3] - The article emphasizes the importance of differentiated positioning and understanding specific consumer demands to capture market share, particularly among younger consumers [3][4] Group 2 - The article discusses how Leader and Hualing, as sub-brands under the same group, successfully implement strategies that focus on "deep youthfulness" and "extreme cost performance," respectively, to meet the needs of young consumers [3][4] - Haier and Midea are highlighted as technology-driven brands that leverage comprehensive product matrices and continuous R&D investments to address consumer demands for quality and health [4][5] - The competitive essence of the home appliance industry is underscored as being rooted in ongoing research and development, with a focus on precise consumer insights to create differentiated advantages [4][5]

Core Viewpoint - Ecovacs Robotics has shown significant stock performance with a year-to-date increase of 98.24%, despite a recent decline over the past 20 days [1] Financial Performance - For the first half of 2025, Ecovacs achieved a revenue of 8.676 billion yuan, representing a year-on-year growth of 24.37% [2] - The net profit attributable to shareholders for the same period was 979 million yuan, marking a year-on-year increase of 60.84% [2] Stock Market Activity - As of October 24, Ecovacs' stock price was 92.28 yuan per share, with a market capitalization of 53.417 billion yuan [1] - The stock experienced a trading volume of 1.00 billion yuan and a turnover rate of 0.19% on the same day [1] - The stock has been on the "龙虎榜" (a list of stocks with significant trading activity) once this year, with the last appearance on July 15 [1] Shareholder Information - As of June 30, the number of shareholders increased to 34,200, a rise of 5.54% from the previous period [2] - The average number of circulating shares per shareholder decreased by 5.25% to 16,633 shares [2] Dividend Distribution - Since its A-share listing, Ecovacs has distributed a total of 2.021 billion yuan in dividends, with 944 million yuan distributed over the last three years [3] Institutional Holdings - As of June 30, 2025, the top ten circulating shareholders included Hong Kong Central Clearing Limited and Huaxia CSI Robotics ETF, with both increasing their holdings [3]

Market Overview - On October 23, the small home appliance sector rose by 0.02% compared to the previous trading day, with Rainbow Group leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Key stocks in the small home appliance sector showed varied performance, with Rainbow Group closing at 25.17, up 4.66%, and Lek Electric at 24.67, up 1.86% [1] - Other notable performers included Liren Technology at 27.44, up 1.70%, and Ousheng Electric at 26.13, up 0.85% [1] Trading Volume and Value - Rainbow Group had a trading volume of 156,000 shares and a transaction value of 386 million yuan [1] - Lek Electric recorded a trading volume of 130,000 shares with a transaction value of 316 million yuan [1] Capital Flow - The small home appliance sector experienced a net outflow of 101 million yuan from institutional investors, while retail investors saw a net inflow of approximately 89.85 million yuan [2] - The capital flow data indicates that retail investors were more active in the market compared to institutional investors [2] Individual Stock Capital Flow - Rainbow Group had a net inflow of 31.61 million yuan from institutional investors, while it faced a net outflow of 2.87 million yuan from retail investors [3] - Lek Electric saw a net inflow of 4.47 million yuan from institutional investors but a significant outflow of 19.97 million yuan from speculative funds [3]

Core Viewpoint - Ecovacs Robotics has experienced a significant stock price increase of 92.70% year-to-date, despite a recent decline in the last five trading days [1] Group 1: Stock Performance - As of October 23, Ecovacs' stock price was 89.70 CNY per share, with a market capitalization of 51.92 billion CNY [1] - The stock has seen a decline of 5.06% over the last five trading days and a 14.57% drop over the last 20 days, while it has increased by 30.00% over the last 60 days [1] - The company has appeared on the "龙虎榜" (a stock trading list) once this year, with the last appearance on July 15 [1] Group 2: Financial Performance - For the first half of 2025, Ecovacs reported a revenue of 8.676 billion CNY, representing a year-on-year growth of 24.37% [2] - The net profit attributable to shareholders for the same period was 979 million CNY, showing a year-on-year increase of 60.84% [2] Group 3: Shareholder Information - As of June 30, 2025, the number of shareholders increased to 34,200, up by 5.54% from the previous period [2] - The average number of circulating shares per shareholder decreased by 5.25% to 16,633 shares [2] - The total cash dividends distributed by Ecovacs since its A-share listing amount to 2.021 billion CNY, with 944 million CNY distributed in the last three years [3] Group 4: Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the sixth-largest circulating shareholder, holding 9.4739 million shares, an increase of 205,200 shares from the previous period [3] - The Huaxia CSI Robotics ETF was the seventh-largest circulating shareholder, with 5.1619 million shares, an increase of 922,100 shares [3] - The Fuguo Balanced Preferred Mixed Fund entered the top ten circulating shareholders with 3.6056 million shares [3]

Summary of the Conference Call on JD's Double 11 Promotion Industry Overview - The conference call focuses on the home appliance industry, specifically the performance and strategies of JD during the 2025 Double 11 shopping festival [1][2][3]. Key Points and Arguments 1. **Promotion Timeline and Structure** - The 2025 Double 11 event lasts for 37 days, starting from October 9 and ending on November 14, with five phases: Pre-sale, Opening Sale, Special Period, Peak Period, and Re-sale [1][3]. 2. **Sales Performance** - During the first phase, home appliance sales reached 61.9 billion yuan, with large appliances showing slight negative growth while small appliances maintained over 20% growth [1][7]. 3. **Sales Growth in Specific Categories** - The sales of vacuum cleaners totaled 520 million yuan, a 25% year-on-year increase, with top brands being Roborock, Ecovacs, and others [11][22]. 4. **Investment and Subsidy Trends** - Overall subsidies during the Double 11 period increased by 20% month-on-month and 15% year-on-year, with a shift from universal subsidies to limited coupons and incentive subsidies [2][10]. 5. **New Product Launches** - Over 100,000 new SKUs were launched daily during the event, with large appliance stores investing over 50,000 yuan per new SKU [8]. 6. **Marketing Strategies** - JD introduced the "Green Plan" to promote eco-friendly products and combined national subsidies with additional funding for promotional activities [1][5]. 7. **Brand-Specific Performance** - Roborock led the vacuum cleaner market with 210 million yuan in sales, while Ecovacs followed with 140 million yuan [11][12]. 8. **Profit Margins** - Roborock's net profit margin was approximately 6%, down from 8% the previous year, attributed to increased competition and marketing investments [19][20]. 9. **Marketing Expense Ratios** - Roborock's marketing expense ratio reached 36%, significantly higher than the previous year's 28% [14][15]. 10. **Consumer Price Trends** - The average price of vacuum cleaners slightly decreased by 1-2%, reflecting varied pricing strategies among brands [22]. Additional Important Insights - **Competitive Landscape** - JD's pricing strategy for vacuum cleaners is competitive, with the lowest effective prices compared to other platforms [23]. - **Future Promotions** - JD plans to maintain the current timeline for future promotions, avoiding further advancements to prevent market saturation [24]. - **Support for Cleaning Appliances** - JD is implementing various support measures for cleaning appliances, including increased traffic support and exclusive promotional events [25]. This summary encapsulates the essential insights from the conference call regarding JD's strategies and performance during the 2025 Double 11 shopping festival, highlighting key trends, sales data, and competitive positioning within the home appliance industry.