2、上交所近日召开高分红重回报暨上市公司价值提升座谈会。上交所相关负责人表示，未来，上交所 将推动上市公司进一步加大分红力度，增加分红频次，用好回购、并购重组、投资者交流等市值管理工 具，持续提升公司投资价值。 3、商务部新闻发言人6月7日就中重稀土出口管制措施答记者问表示，对稀土实施出口管制符合国际通 行做法，中方已依法批准一定数量的合规申请。中方愿就此进一步加强与相关国家的出口管制沟通对 话，促进便利合规贸易。 智通财经6月9日早间新闻精选 1、外交部发言人6月7日宣布，应英国政府邀请，中共中央政治局委员、国务院副总理何立峰将于6月8 日至13日访问英国。其间，将与美方举行中美经贸磋商机制首次会议。 11、龙佰集团公告，拟回购5亿元至10亿元公司股份。 12、蓝色光标公告，筹划发行H股股票并在香港联交所主板挂牌上市；石头科技公告，拟发行H股股票 并在香港联交所上市。 13、隆基绿能公告，股东HHLR拟减持不超过0.5%公司股份；德赛西威公告，股东惠创投和神华投资拟 分别减持3%和1.45%公司股份；若羽臣公告，朗姿股份计划减持不超3%公司股份；阿特斯公告，股东 元禾重元拟减持不超过3%公司股份。 14、据 ...

Group 1 - The Hong Kong Securities and Futures Commission (SFC) issued a restriction notice to Huanlian International Asset Management due to concerns about its reliability, integrity, and ability to conduct regulated activities properly [1] - The SFC's action reflects high standards required from market participants to ensure market fairness and transparency [1] Group 2 - The SFC is collaborating with global regulatory bodies to curb illegal activities by financial influencers who promote financial products on social media, potentially putting millions of users at risk [2] - The effectiveness of the SFC's efforts will be enhanced through cooperation with other regulators, emphasizing the need for investors to verify the regulatory status and credibility of financial influencers before making investment decisions [2] Group 3 - Baize Medical Group passed the Hong Kong Stock Exchange (HKEX) listing hearing and is expected to list soon, focusing on oncology medical services through ownership and management of multiple hospitals [3] - The projected revenues for Baize Medical from 2022 to 2024 are 803 million, 1.072 billion, and 1.189 billion respectively, indicating growth potential in the healthcare sector [3] Group 4 - Stone Technology, a manufacturer of smart cleaning robots, announced plans to issue shares and list on the HKEX to enhance its global brand recognition and competitiveness [4] - This move aims to optimize capital structure, diversify financing channels, and strengthen corporate governance, positioning the company to capitalize on the growing demand for smart cleaning robots [4] Group 5 - The latest performance of the Hong Kong stock market shows the Hang Seng Index at 23,792.54, down 0.48%, the Hang Seng Tech Index at 5,286.52, down 0.63%, and the National Enterprises Index at 8,629.75, also down 0.63% [5]

长江商报消息 ●长江商报记者 江楚雅 智能清洁机器人龙头石头科技（688169.SH）拟赴港上市对接全球资本。 石头科技在公告中明确，募资将用于三大方向，国际化拓展方面，深化欧洲、亚太等区域市场布局，尤 其是东南亚新兴市场；产品研发方面，聚焦AI导航、多模态交互等核心技术升级；运营资金补充，应 对贸易摩擦下的供应链风险。 石头科技于2020年2月在A股上市，此次赴港若成功，将成为少数"A+H"双平台智能硬件企业之一。 从2024年开始，石头科技在海外市场采取了较为积极的产品及市场策略。此次赴港上市，公司可进一步 吸引更多国际投资者，提升全球品牌影响力，提高海外资金周转效率，提升抗风险能力。 近年来，石头科技因精益化的"走出去"战略，成功打造海外增长新引擎。不仅在出货量上首次登顶，更 在销额上实现了稳健蝉联。 据IDC数据显示，2024年石头科技智能扫地机器人全球量额双第一，全年全球销量市场份额16%，销额 市场份额达22.3%，出货量同比增长20.7%。公司在北欧、土耳其、德国、法国、韩国等市场，连续多 季度量额双第一。智能扫地机器人2024年营收达108.48亿元，占比90.8%。 截至目前，石头科技的产品 ...

访问36氪出海网站 letschuhai.com ，获取更多全球商业相关资讯。 公司动态 小米未来5年内将在海外开拓10000家门店 6月3日消息，在小米集团2025投资者大会上，雷军向投资者汇报了小米的发展近况。小米今年已经开始把新零售模式在全球范围内铺开。下一步，小米在全 球范围内都会大力推进新零售战略，建设强有力的高效渠道。目前，小米在国际市场的新零售布局刚刚开始，我们计划未来5年内，在海外开拓10000家门 店。（新浪财经） 消息称小红书估值升至260亿美元 6月5日，据彭博社报道，在近期通过一家大型基金的交易中，小红书的估值飙升至260亿美元。这一最新估值并非来自公开融资，而是通过金沙江创投旗下 的一份股份交易文件。据彭博社获得的金沙江创投内部文件显示，小红书占据了该 GSR 基金资产的91%，截至3月底的基金净资产价值换算后，小红书估值 从此前报告的200亿美元大幅跃升至260亿美元。分析指出，这一估值突破了小红书在2021年新冠疫情期间的历史峰值，为业界普遍预期的今年 IPO 计划注 入强劲动力。（华尔街见闻） 甜啦啦印尼10店同步开业 36氪出海获悉，甜啦啦在印尼北苏门答腊省10家新店同步开业 ...

Investment Rating - The report maintains a positive outlook on the home appliance sector, highlighting potential investment opportunities in key companies [2]. Core Insights - The home appliance sector underperformed compared to the CSI 300 index, with the Shenwan household appliance index declining by 1.8% while the CSI 300 rose by 0.9% [2][3]. - Haier Smart Home completed the acquisition of KLIMA KFT, enhancing its HVAC business in Central and Eastern Europe [8]. - Stone Technology plans to issue H shares and list on the Hong Kong Stock Exchange to boost its global brand recognition and competitiveness [9]. Summary by Sections 1. Market Performance - The household appliance sector lagged behind the CSI 300 index, with a decline of 1.8% compared to a 0.9% increase in the index [2][3]. 2. Company Dynamics - Key companies such as Beileisong (up 21.2%), Yitian Smart (up 13.0%), and Aopu Technology (up 6.6%) led the gains, while Midea Group (down 4.2%), Hisense Visual (down 4.0%), and Gree Electric (down 3.3%) faced declines [5][6]. 3. Industry Developments - Haier Smart Home's acquisition of KLIMA KFT marks a significant step in expanding its HVAC business in Hungary, aiming to promote sustainable HVAC solutions in the region [8]. - Stone Technology's proposed H share issuance aims to enhance its global competitiveness and optimize its capital structure [9]. 4. Sales Data Observations - In April, sales of cleaning appliances like robotic vacuums and washing machines increased, while hairdryer sales declined [27]. - Robotic vacuum sales reached 270,700 units, up 79.69% year-on-year, with sales revenue of 315 million yuan, an increase of 55.46% [27]. - Hairdryer sales fell by 10.81% to 850,900 units, but revenue increased by 12.39% to 227 million yuan [33]. 5. Investment Highlights - Three main investment themes are identified: - White goods, benefiting from favorable real estate policies and the "trade-in" policy, with expected production increases [2]. - Exports, with recommendations for companies like Ousheng Electric and Dechang Co. due to stable profitability and order growth [2]. - Core components, with a focus on companies like Huaxiang Co. and Shun'an Environment, which are positioned to benefit from increased demand in the white goods sector [2].

【石头科技拟境外发行H股并在港上市，募资用于多方面业务拓展】6月6日晚间，石头科技(688169)公 告，拟于境外发行股份并在香港联交所主板上市。本次募资扣除发行费用后，主要用于国际化业务拓 展、产品研发及组合扩充、补充运营资金等。该事项尚需公司股东会审议，取得相关政府和监管机构备 案、批准等。目前公司正与中介商讨，具体细节未确定。石头科技称，筹划发行H股上市是为满足业务 发展，提升全球知名度，利用国际优势优化资本结构，拓展融资渠道，提升治理水平。石头科技主营智 能扫地机器人等智能硬件。近年来践行全球化战略，海外市场壮大。2024年境外营收63.88亿元，同比 增51.06%，占总营收比重达53%。截至目前，产品遍布170多个国家和地区，超2000万家庭使用。公司 已在多地设海外公司，掌握市场动态，提升服务效率。海外市场，石头科技采取多元化渠道策略，与当 地平台合作。截至2024年12月，产品进入北美Target 1398家门店、Bestbuy 900家门店。国内市场业务也 表现亮眼，2024年境内营收55.31亿元，同比增25.39%。不过受市场竞争和产品策略影响，2024年净利 润略降3.64%至19.7 ...

证券研究报告 石头科技 (688169 CH) 2025 年中期策略会速递—— 618 大促开局良好，坚定全球化战略 华泰研究 更新报告 2025 年 6 月 06 日│中国内地 小家电 6 月 5 日石头科技出席了我们组织的 2025 年中期策略会，会上公司表示： 1）618 第一周期全品类销售额同比高增长；2）境外产能快速爬坡，美国关 税保持跟踪；3）修炼内功，加速全球化扩张战略的落地。 国内 618 大促开局良好 根据奥维云网的监测，5 月 12 日至 6 月 1 日，扫地机、洗地机行业的线上 销售额同比分别为+27%、+34%。分品牌看，同期石头品牌的扫地机、洗 地机线上销售额同比分别为+57%、1064%。公司的线上动销表现远好于行 业平均水平。618 是国内 2 季度最重要的大促活动，公司实现良好开局。 境外产能快速爬坡，美国关税风险保持跟踪 为应对美国关税政策的变化，2024 年 10 月公司在越南设立代工厂。凭借出 色的供应链管理能力，今年以来越南产能快速爬坡，并开始批量发货。公司 提前布局，主动采取措施，通过供应链的多元化、产品推新等多种举措应对 美国关税政策影响。 不断修炼内功，加速全球化 ...

Group 1 - The core point of the news is that Stone Technology plans to issue and list its H-shares on the Hong Kong Stock Exchange, marking a significant move in its capital market strategy [1] - The funds raised will be used for various purposes, including international business expansion, deepening product research and development, enriching product offerings, and supplementing operational funds [1] - In the recently published annual report, Stone Technology's domestic main business revenue reached 5.531 billion yuan in 2024, showing a significant growth of 25.39% compared to the previous year [1] Group 2 - The overseas market performance of Stone Technology is particularly impressive, with main business revenue reaching 6.388 billion yuan, a year-on-year increase of 51.06%, indicating the success of its globalization strategy [1] - The company's success in overseas markets is attributed to its high product quality, innovative design, and a deep understanding of local market needs [3] - The listing on the Hong Kong Stock Exchange is seen as a milestone that will provide more financing channels and broader development space for Stone Technology, enhancing its brand recognition and influence [3]

Investment Rating - The investment rating for the company is "Buy" with a target price of 253.23 RMB [9][10]. Core Views - The company reported strong sales growth during the 618 shopping festival, with online sales of sweeping and washing machines increasing by 57% and 1064% year-on-year, respectively, significantly outperforming the industry average [4][3]. - The company is rapidly increasing its overseas production capacity, having established a factory in Vietnam to mitigate the impact of U.S. tariffs, and is actively managing its supply chain to adapt to changing policies [5][3]. - The company is focusing on internal improvements and accelerating its globalization strategy, with organizational and sales structure adjustments made in 2024 leading to rapid revenue growth in late 2024 and early 2025 [6][3]. Summary by Sections Sales Performance - The company achieved a strong start in the 618 shopping festival, with sweeping machines and washing machines showing online sales growth of 57% and 1064% respectively, compared to the industry averages of 27% and 34% [4][3]. Overseas Production Capacity - In response to U.S. tariff policies, the company set up a factory in Vietnam in October 2024, which has quickly ramped up production and started bulk shipments, demonstrating effective supply chain management [5][3]. Globalization Strategy - The company has enhanced its organizational capabilities and resource reserves over the past decade, implementing strategic adjustments in 2024 that have led to significant revenue growth in Q4 2024 and Q1 2025 [6][3]. Profit Forecast and Valuation - The company maintains profit forecasts for 2025-2027 at 2.035 billion RMB, 2.321 billion RMB, and 2.828 billion RMB, with corresponding EPS of 11.01, 12.56, and 15.30 RMB [7][3]. - The target price is set at 253.23 RMB, based on a 23x PE ratio for 2025, reflecting the company's strong product capabilities and successful globalization efforts [7][3].

Group 1 - Company plans to list on the Hong Kong Stock Exchange to raise funds for international expansion, product development, and operational support [2] - The company faces challenges in maintaining overseas business stability amid changing international trade conditions and increasing competition in the clean appliance market [2] - In 2024, the company's domestic revenue reached 5.531 billion yuan, a year-on-year increase of 25.39%, while overseas revenue was 6.388 billion yuan, up 51.06%, indicating that overseas revenue has surpassed domestic revenue [2] Group 2 - In 2024, the company leads the global smart vacuum cleaner market with a 16% share in volume and 22.3% in sales revenue, with a year-on-year shipment growth of 20.7% [3] - The company has adopted proactive product and market strategies in overseas markets starting in 2024, which is expected to attract more international investors and enhance global brand influence [3] - Despite significant revenue growth, net profit has declined, with 2024 revenue at 11.95 billion yuan (up 38%) and net profit at 1.977 billion yuan (down 3.63%) [3] Group 3 - The clean appliance market is attracting new players, increasing competition, and the company must focus on product innovation and brand premium to maintain profit levels [4] - The company plans to enhance its governance structure post-Hong Kong listing by increasing board members from 6 to 8, including new independent and non-independent directors [4]