Core Viewpoint - Recent consumer complaints regarding price discrepancies in the purchase of Stone Technology's sweeping robot during a live stream have raised significant concerns about pricing errors and order cancellations [2][4]. Group 1: Consumer Complaints - Multiple consumers reported that after purchasing the Stone Technology sweeping robot for over 1,000 yuan, their orders were intercepted by the seller due to a "platform price configuration bug," leading to order cancellations and a proposed compensation of 500 yuan [2]. - The prices at which consumers ordered the P20 Ultra model ranged from 1,000 yuan to 1,900 yuan, while the official price after subsidies was stated to be 3,060 yuan, indicating a discrepancy of over 1,000 to 2,000 yuan [4]. Group 2: Legal Perspective - According to legal expert Xiao Jinyang, if a seller marks a product price significantly lower than the market price due to an error, they may invoke "major misunderstanding" to cancel the contract, provided they act promptly to address the issue [4][5]. - The Civil Code of the People's Republic of China allows for the cancellation of civil legal acts based on major misunderstandings, which may apply in this case [5]. Group 3: Historical Context - This incident is not the first controversy involving Stone Technology's sweeping robots related to pricing issues during live streams, as previous complaints arose during the 618 shopping festival, where consumers reported price drops shortly after purchase [5].

Group 1 - The core viewpoint of the news highlights the rapid rise of the artificial intelligence (AI) industry chain, with significant gains in AI-related stocks and the announcement of a global robotics competition aimed at exploring the potential of AI and robotics technology [1][2] - The AI ETF (515070) has seen an increase of over 0.8% during trading, with notable stock performances from companies like Stone Technology, which surged over 5%, and other firms such as Chipone, Ecovacs, and Weir Shares also experiencing gains [1] - The AgiBot World Challenge, organized by Zhiyuan Robotics and OpenDriveLab, will officially start on May 26, focusing on testing robots' capabilities in complex environments and generating world models in embodied scenarios, with a cash prize pool of $60,000 [1] Group 2 - Citic Securities predicts that 2025 may become a pivotal year for AI application deployment, with AIAgent applications expected to experience rapid growth, particularly in management software, where traditional industry leaders hold significant advantages [2] - The AI ETF (515070) tracks the CS AI Theme Index (930713), selecting stocks that provide technology, foundational resources, and applications in the AI sector, focusing on the midstream and upstream of the AI industry chain [2] - The top ten weighted stocks in the AI ETF include leading domestic technology firms such as Cambricon, Hikvision, Zhongji Xuchuang, and others, indicating a strong concentration of influential players in the AI market [2]

Investment Rating - The report maintains an "Outperform the Market" rating for the home appliance industry [4][6][57]. Core Views - The home appliance retail demand in China accelerated in April, with online and offline sales increasing approximately 20% year-on-year. The 618 shopping festival started earlier this year, extending the promotional period [1][18]. - The export value of home appliances in April slightly decreased by 2% due to the impact of U.S. tariffs, but categories like air conditioners and washing machines continued to show strong growth [2][22]. - The 618 shopping festival has simplified rules and started earlier, with major platforms like Tmall and JD.com adjusting their promotional strategies to enhance consumer engagement [3][33]. Summary by Sections Retail Demand Growth - In April, the online and offline retail sales of home appliances grew by 21.8% and 18.6% year-on-year, respectively. Cumulatively, from January to April, the growth was 9.1% and 14.8% [1][18]. - The growth in retail volume and price was significant, driven by national subsidy policies, with online and offline retail volumes increasing by 6.5% and 10.8% year-on-year in April [1][18]. Export Performance - The export value of home appliances in April saw a year-on-year decline of 1.7%, marking the first drop since the recovery began in 2023, primarily due to U.S. tariffs. However, the impact was relatively limited [2][22]. - Categories with lower reliance on U.S. markets, such as air conditioners and washing machines, experienced growth, with air conditioner exports increasing by 11.9% and washing machines by 9.6% [2][22]. 618 Shopping Festival - The 618 shopping festival commenced on May 13, with a longer promotional period and simplified rules. Tmall reintroduced pre-sale options, while JD.com added a new shopping season to enhance consumer participation [3][33]. - The promotional strategies focus on straightforward discounts, eliminating complex conditions to encourage consumer spending [3][33]. Key Company Recommendations - Recommended companies in the white goods sector include Gree Electric Appliances, Midea Group, Haier Smart Home, TCL, and Hisense. For kitchen appliances, Boss Electric is recommended, while for small appliances, Bear Electric, Roborock, and Xinbao are highlighted [4][14][57].

Investment Rating - The report maintains an "Overweight" rating for the consumer sector, specifically highlighting the potential in new consumption opportunities and structural growth within the domestic market [6]. Core Insights - In April, the total retail sales of consumer goods reached 3.7 trillion yuan, with a year-on-year growth of 5.1%, indicating resilience in domestic demand despite external pressures [1]. - The report emphasizes the positive impact of government policies aimed at boosting consumption, particularly in sectors such as home appliances, sports, and entertainment [1][4]. - The online retail penetration continues to grow, with a 5.8% year-on-year increase in physical goods sold online, reflecting a shift towards digital consumption [2]. Summary by Sections Retail Performance - In April, the restaurant and retail sectors saw year-on-year growth of 5.2% and 5.1%, respectively, indicating a stable recovery trend [2]. - The online retail sales of physical goods increased by 6.1% year-on-year from January to April, with an online penetration rate rising to 24.3% [2]. Consumer Trends - Various consumer categories showed positive growth, particularly in home appliances (up 38.8%), furniture (up 26.9%), and sports equipment (up 23.3%), driven by policies encouraging consumption upgrades [3]. - Jewelry sales surged by 25.3% year-on-year, attributed to investment-driven demand for gold and silver [3]. Economic Indicators - The Consumer Price Index (CPI) in April decreased by 0.1% year-on-year, with food prices showing a slight decline of 0.2% [4]. - Service prices increased by 0.3% year-on-year, with notable growth in domestic services such as housekeeping and education [4]. Investment Recommendations - The report suggests four main investment themes for 2025: 1. New consumption opportunities driven by domestic brands [5]. 2. High-growth emotional consumption sectors [5]. 3. The burgeoning silver economy [5]. 4. AI-driven consumer innovations [5]. - Specific stock recommendations include brands like 毛戈平 (Mao Geping), 安踏体育 (Anta Sports), and 海澜之家 (HLA) among others, all rated as "Buy" [9][41].

北京市中伦律师事务所 关的议案。公司关联董事对相关议案已进行回避表决，公司独立董事对此发表了 同意的独立意见。 公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2022 年限制性股票激励计划实施考核管理办法>的议案》，公司监事会对激励对象名单 及本激励计划的其他相关事项进行核实并出具了相关核查意见。 在公司内部进行了公示。在公示期内，公司监事会未收到与本激励计划激励对象 有关的任何异议。 公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2022 年限制性股票激励计划实施考核管理办法>的议案》以及《关于提请股东大会授 权董事会办理 2022 年限制性股票激励计划相关事宜的议案》。 次会议，审议通过了《关于向激励对象授予限制性股票的议案》。公司独立董事 对该事项发表了明确同意的独立意见。监事会对授予日的激励对象名单进行了核 实并发表了核查意见。 十六次会议，审议通过了《关于调整公司 2022 年限制性股票激励计划授予价格 《关于公司 2022 年限制性股票激励计划第一个归属期符合归 及授予数量的议案》 属条件的议案》 《关于作废部分已授予尚未归属的限制性股票的议 ...

证券代码：688169 证券简称：石头科技 公告编号：2025-038 北京石头世纪科技股份有限公司 关于作废部分已授予尚未归属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、准确性和完整性依法承担法律责任。 北京石头世纪科技股份有限公司（以下简称"公司"）于 2025 年 5 月 19 日召开第三届董事会第六次会议、第三届监事会第六次会议，审议通过了《关于 作废部分已授予尚未归属的限制性股票的议案》，现将相关事项公告如下： 一、限制性股票激励计划已履行的相关审批程序 了《关于公司<2022 年限制性股票激励计划（草案）>及其摘要的议案》《关于 公司<2022 年限制性股票激励计划实施考核管理办法>的议案》以及《关于提请 股东大会授权董事会办理 2022 年限制性股票激励计划相关事宜的议案》。公司 独立董事就本激励计划相关议案发表了明确同意的独立意见。 同日，公司召开第二届监事会第三次会议，审议通过了《关于公司<2022 年 限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2022 年限制性股 票激励计划实施考核管理办法>的议案 ...

本公司监事会及全体监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、准确性和完整性依法承担法律责任。 一、监事会会议召开情况 北京石头世纪科技股份有限公司（以下简称"公司"）第三届监事会第六次 会议于 2025 年 5 月 19 日在公司会议室以现场结合通讯方式召开。 本次会议的通知于 2025 年 5 月 14 日通过邮件方式送达全体监事。会议应出 席监事 3 人，实际到会监事 3 人。会议的召集和召开程序符合有关法律、行政法 规、部门规章、规范性文件和《北京石头世纪科技股份有限公司章程》（以下简 称"《公司章程》"）的规定，会议决议合法、有效。 二、监事会会议审议情况 证券代码：688169 证券简称：石头科技 公告编号：2025-035 北京石头世纪科技股份有限公司 本次会议由监事会主席谢濠键先生主持，董事会秘书孙佳女士列席会议。与 会监事表决通过以下事项： 第三届监事会第六次会议决议公告 表决结果：同意 3 票，反对 0 票，弃权 0 票。 （一）审议通过《关于调整公司 2022 年限制性股票激励计划授予价格及授 予数量的议案》 经审核，监事会认为：公司 2023 年 ...

证券代码：688169 证券简称：石头科技 公告编号：2025-036 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、准确性和完整性依法承担法律责任。 北京石头世纪科技股份有限公司（以下简称"公司"）于 2025 年 5 月 19 日召开第三届董事会第六次会议、第三届监事会第六次会议，审议通过了《关于 调整公司 2022 年限制性股票激励计划授予价格及授予数量的议案》，同意根据 《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《上海证券交 易所科创板股票上市规则》（以下简称"《上市规则》"）、公司《2022 年限 制性股票激励计划（草案）》（以下简称"《激励计划》"）的有关规定，对 2022 年限制性股票的授予价格由 22.61 元/股调整为 12.81 元/股，授予数量由 48.6637 万股调整为 68.1292 万股。具体情况如下： 北京石头世纪科技股份有限公司 关于调整公司 2022 年限制性股票激励计划 授予价格及授予数量的公告 一、限制性股票激励计划已履行的相关审批程序 1、2022 年 4 月 21 日，公司召开第二届董事会第三次 ...

北京石头世纪科技股份有限公司（以下简称"公司"）监事会依据《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》"）、《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《上 海证券交易所科创板股票上市规则》（以下简称"《上市规则》"）和《北京石头 世纪科技股份有限公司章程》（以下简称"《公司章程》"）等有关规定，对本次 限制性股票激励计划第三个归属期符合归属条件的激励对象名单进行审核，发表 核查意见如下： 监事会对公司 2022 年限制性股票激励计划第三个归属期 325 名激励对象进 行了核查，认为各激励对象符合《公司法》《证券法》等法律、法规和规范性文 件及《公司章程》规定的任职资格，符合《管理办法》《上市规则》等法律、法 规和规范性文件规定的激励对象条件，符合 2022 年限制性股票激励计划规定的 激励对象范围，其绩效考核结果合规、真实，不存在虚假、故意隐瞒等相关情况， 本次激励计划 325 名激励对象作为公司本次限制性股票激励计划激励对象的主 体资格合法、有效，激励对象获授限制性股票的归属条件已经成就。 北京石头世纪科技股份有限公司 监事会关于20 ...

证券代码：688169 证券简称：石头科技 公告编号：2025-034 （一）审议通过《关于调整公司 2022 年限制性股票激励计划授予价格及授 予数量的议案》 北京石头世纪科技股份有限公司 第三届董事会第六次会议决议公告 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、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 北京石头世纪科技股份有限公司（以下简称"公司"）第三届董事会第六次 会议于 2025 年 5 月 19 日在公司会议室以现场结合通讯方式召开。 本次会议的通知于 2025 年 5 月 14 日通过邮件方式送达全体董事。会议应出 席董事 6 人，实际到会董事 6 人。会议的召集和召开程序符合有关法律、行政法 规、部门规章、规范性文件和《北京石头世纪科技股份有限公司章程》（以下简 称"《公司章程》"）的规定，会议决议合法、有效。 二、董事会会议审议情况 本次会议由董事长昌敬先生主持，董事会秘书孙佳女士列席会议。与会董事 审议表决通过了以下事项： 2024 年 8 月 1 日，公司披露了《2023 年年度权益分派实施公告》：以实施 权益分 ...