证券代码：688475 证券简称：萤石网络 公告编号：2024-046 为规范本次募集资金的存放、使用与管理，根据《上市公司监管指引第 2 号 ——上市公司募集资金管理和使用的监管要求》《上海证券交易所科创板上市公 司自律监管指引第 1 号——规范运作》等相关法律法规、规范性文件的规定，公 司已将上述募集资金存放于募集资金专项账户管理，并与保荐机构、存放募集资 金的商业银行签署了《募集资金三方监管协议》。 二、募集资金投资项目及募集资金使用情况 根据《萤石网络首次公开发行股票并在科创板上市招股说明书》《萤石网络 关于调整募投项目拟投入募集资金金额的公告》披露，本次公司首次公开发行股 票募投项目及经调整后的募集资金使用计划如下： 杭州萤石网络股份有限公司 关于公司部分募投项目延期的公告 本公司董事会、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。 重要内容提示： 杭州萤石网络股份有限公司（以下简称"萤石网络"或"公司"）于 2024 年 12 月 20 日分别召开第二届董事会第六次会议与第二届监事会第六次会议，审议 通过了《关于部分募投项 ...

第二届监事会第六次会议决议公告 证券代码：688475 证券简称：萤石网络 公告编号：2024-045 杭州萤石网络股份有限公司 本公司监事会、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 杭州萤石网络股份有限公司（以下简称"公司"）第二届监事会第六次会议， 于2024年12月17日以电子邮件及专人送达方式向全体监事发出书面通知，于2024 年12月20日以通讯表决的方式召开。会议由监事会主席王丹女士召集并主持。会 议应出席监事3名，实际出席监事3名。会议召开符合有关法律、法规、规章和公 司章程的规定。 二、监事会会议审议情况 （一）以3票赞成、0票反对、0票弃权，审议通过《关于部分募投项目延期 的议案》 经审议，监事会认为本次部分募投项目延期是公司根据项目实施的实际情况 做出的审慎决定，项目延期未改变募投项目的投资内容、投资总额、实施主体， 不会对募投项目的实施造成实质性的影响。本次部分募投项目延期不存在改变或 变相改变募集资金用途的情况，不会对公司的正常经营产生重大不利影响，不存 在损害股东利益的情形。该事 ...

中国国际金融股份有限公司 关于杭州萤石网络股份有限公司 使用闲置募集资金进行现金管理的核查意见 中国国际金融股份有限公司（以下简称"中金公司"或"保荐机构"）作为杭州萤 石网络股份有限公司（以下简称"萤石网络"或"公司"）首次公开发行股票并在科创 板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上市公司监管指引第 2 号——上市公司募集资金管理和使用的监管要求》《上海证券交易所科创板股票上市规 则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》等有关法律 法规和规范性文件的要求，对公司及全资子公司杭州萤石软件有限公司、重庆萤石电子 有限公司（以下简称"萤石软件"、"萤石重庆"）本次使用暂时闲置募集资金进行现 金管理事项进行了核查，核查情况及核查意见如下： 一、募集资金基本情况 根据上海证券交易所科创板股票上市委员会 2022 年第 46 次审议会议审核同意并 经中国证券监督管理委员会作出的《关于同意杭州萤石网络股份有限公司首次公开发行 股票注册的批复》（证监许可〔2022〕2840 号）同意，公司首次向社会公开发行 11,250 万股股份，发行价格为 28.77 元/股，募集资金总 ...

证券代码：688475 证券简称：萤石网络 公告编号：2024-047 杭州萤石网络股份有限公司 关于全资子公司拟签订智能化工程二期建设施工合 同暨关联交易的公告 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。 重要内容提示： 一、关联交易概述 为满足萤石智能制造重庆基地项目的智能化需求，公司全资子公司重庆 萤石拟向海康系统采购智能化工程二期建设服务，预计采购金额不超过 3,500 万元。 海康系统系公司控股股东杭州海康威视数字技术股份有限公司的全资子 公司，根据《上海证券交易所科创板股票上市规则》的相关规定，海康系统 杭州萤石网络股份有限公司（以下简称"公司"）全资子公司重庆萤石 电子有限公司（以下简称"重庆萤石"）拟与杭州海康威视系统技术有 限公司（以下简称"海康系统"）签订智能化工程二期建设施工合同， 交易总金额预计不超过 3,500 万元（含税）。 海康系统系公司控股股东杭州海康威视数字技术股份有限公司的全资 子公司，根据《上海证券交易所科创板股票上市规则》的相关规定，海 康系统为公司关联方，本次交易构成关联交易， ...

2024 年第一次临时股东大会之 法律意见书 国浩律师（杭州）事务所 关于 杭州萤石网络股份有限公司 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二四年十二月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 杭州萤石网络股份有限公司 2024 年第一次临时股东大会之 法律意见书 致：杭州萤石网络股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受杭州萤石网络股份有限 公司（以下简称"公司"）的委托，指派律师列席公司 2024 年第一次临时股东 大会（以下简称"本次股东大 ...

证券代码：688475 证券简称：萤石网络 公告编号：2024-043 杭州萤石网络股份有限公司 2024 年第一次临时股东大会决议公告 本公司董事会及全体董事保证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。 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东大会召开的时间：2024 年 12 月 9 日 | 1、出席会议的股东和代理人人数 | 147 | | --- | --- | | 普通股股东人数 | 147 | | 2、出席会议的股东所持有的表决权数量 | 653,671,078 | | 普通股股东所持有表决权数量 | 653,671,078 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比例 | 83.0058 | | （%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 83.0058 | （四） 表决方式是否符合《公司法》及公司章程的规定，大会主持情况等。 本次股东大会由公司董事会召集，董事长蒋海青先生主持，会议采用现场投 票和网络投票相结合的表决方式。本次股东 ...

Group 1: Company Overview - The company focuses on developing embodied AI and spatial-level intelligent models, specifically the "Blue Ocean Model" for vertical IoT scenarios [8] - The "Blue Ocean Model" has completed filing on September 24, 2024, and is capable of edge and cloud computing collaboration [8] Group 2: Research and Development - The company will maintain R&D investments to enrich IoT scenarios and enhance edge-cloud collaboration capabilities [10] Group 3: Distributor Relations - Distributors are long-term partners, and the company emphasizes long-term growth together with them [11] - The company provides continuous support and empowerment to domestic and international distributors through various forms, including regular training on operations and new products [11] - The company encourages offline distributors to actively transition to new retail models [11]

杭州萤石网络股份有限公司 2024 年第一次临时股东大会会议材料 证券简称：萤石网络 证券代码：688475 2024 年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保证 大会的顺利进行，根据《中华人民共和国公司法》等相关规定，特制定杭州萤石 网络股份有限公司（以下简称"公司"）2024 年第一次临时股东大会须知。 一、全体参会人员应以维护全体股东的合法权益、保障会议的正常秩序和议 事效率为原则，自觉履行法定义务。 二、为保证股东大会的严肃性和正常秩序，除出席会议的股东（含股东代理 人，下同）、董事、监事、高级管理人员、公司聘请的律师及公司董事会要求的 人员以外，公司有权依法拒绝其他人士入场。为确认出席股东大会的股东或其他 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， 请被核对者予以配合。 三、出席会议的股东须在会议召开前 15 分钟到会议现场办理签到手续，并 请按规定出示证券账户卡、身份证明文件或法人单位证明、授权委托书等，上述 登记材料均需提供复印件一份，个人登记材料复印件须个人签字，法定代表人证 明文件复印件须加盖公司公章，经验证后 ...

Investment Rating - The report assigns an "Overweight" rating to the company, indicating a positive outlook for its stock performance [4][5] Core Views - The company's revenue in 2024Q1-Q3 reached 3,963 million yuan, a year-on-year increase of 12.93%, with steady growth maintained [4] - Smart home entry business has become a star segment, with its revenue share increasing due to strong product recognition and brand influence [4] - AI technology integration with smart devices and IoT cloud services is a key future direction, with R&D expenses in 2024Q1-Q3 reaching 619 million yuan, up 13.45% year-on-year [5] - The company is actively expanding into new markets such as cleaning robots and enhancing e-commerce and new retail channels [4] Financial Performance - Revenue for 2023 was 4,840 million yuan, with projected growth to 7,211 million yuan by 2026, representing a CAGR of 14.1% [3] - Net profit attributable to shareholders in 2023 was 563 million yuan, expected to grow to 856 million yuan by 2026, with a CAGR of 22.7% [3] - Gross margin remained stable at 42.9% in 2023 and 2024E, with a projected increase to 45.1% by 2026 [3] - ROE is expected to rise from 10.7% in 2023 to 12.8% by 2026, reflecting improved profitability [3] Market Data - The company's closing price on 2024-11-20 was 32.80 yuan, with a total market capitalization of 25.83 billion yuan [2] - Total assets stood at 8,156.58 million yuan, with net assets of 5,365.75 million yuan, resulting in a net asset per share of 6.81 yuan [2] Business Strategy - The company is leveraging its self-developed AI models to enhance its dual-core business of "smart home + IoT cloud platform" [5] - Ongoing R&D projects are progressing well, with plans to upgrade and expand home product types and application scenarios [5] Valuation Metrics - The company's PE ratio is projected to decline from 45.9 in 2023 to 30.2 by 2026, indicating improving valuation attractiveness [3] - PB ratio is expected to decrease from 4.9 in 2023 to 3.9 by 2026, reflecting potential undervaluation [8]

Company and Industry Summary Company Overview - The conference call primarily discusses the performance and strategies of a technology company specializing in smart home products, particularly focusing on cameras, smart locks, and robots. Key Points Financial Performance - Q3 revenue growth remains strong, but profit margins are under pressure due to high base effects from the previous year, where profits grew by 60-70% [2][3] - Cost pressures are attributed to the fading of last year's cost advantages and changes in product mix and channel strategies [2][3] - Management expects continued pressure on expenses in the upcoming quarters, particularly due to one-time costs related to new office relocation and increased management expenses [3][39] Market Trends and Consumer Behavior - The company has observed a positive impact from promotional events like Double Eleven, with significant consumer interest driven by multiple discounts [5][6] - Online market share for the company has improved, with notable performance in smart cameras and smart locks, although competition remains fierce [5][6] - The company ranks among the top brands in sales during major shopping events, indicating strong brand recognition and consumer demand [6] Product Development and Innovation - The company is transitioning towards more interactive and AI-integrated products, with a focus on enhancing user experience through features like pet tracking and smart home integration [17][18][20] - The introduction of AI capabilities is seen as a significant trend, with ongoing development of a proprietary AI model aimed at improving product functionality [17][18] - The company is also focusing on expanding its product lines to include more smart home devices, with a strong emphasis on online sales channels [15][16] Competitive Landscape - The company differentiates itself from competitors like Xiaomi by emphasizing its proprietary technology and R&D capabilities, particularly in video and AI [21][22] - The competitive environment is intensifying, especially in overseas markets, where the company is adapting its strategies to local conditions [29][30] International Expansion - The company faces challenges in the U.S. market due to sanctions affecting its parent company, limiting its ability to compete effectively [7][8] - In Europe, the company is leveraging local teams to establish relationships and navigate market dynamics, with a focus on both online and offline sales channels [31][32] Future Outlook - The company anticipates that its smart home product lines, particularly smart locks, will achieve breakeven in Q4, with expectations for profitability in the following year [37] - Continued investment in marketing and channel development is planned to support long-term growth, despite short-term pressures on profitability [38] Risks and Considerations - The company acknowledges the risks associated with fluctuating market conditions and competitive pressures, particularly in the context of international operations [7][8][29] - Management is focused on balancing investment in growth with maintaining financial health, particularly in light of rising operational costs [39] Additional Insights - The shift towards online sales and the need for a more retail-oriented approach are critical for the company's future success, reflecting broader trends in consumer behavior [15][16] - The integration of AI into product offerings is expected to enhance customer engagement and drive sales, although quantifying its impact remains challenging [19][20][34]