证券代码：688793 证券简称：倍轻松 公告编号：2024-38 深圳市倍轻松科技股份有限公司 关于召开 2024 年第一次临时股东大会的通知 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： 一、 召开会议的基本情况 （一） 股东大会类型和届次 2024 年第一次临时股东大会 召开日期时间：2024 年 10 月 30 日 14 点 00 分 召开地点：深圳市南山区创业路 1777 号海信南方大厦 19 楼 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自 2024 年 10 月 30 日 至 2024 年 10 月 30 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 股东大会召开日期：2024年10月30日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 （二） 股东大会召集人：董事会 （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 （四） 现场会议召开的日 ...

一、变更经营范围 根据公司业务发展需要，拟增加公司经营范围，同时对《公司章程》相应 条款进行修订，并办理工商变更登记，经营范围增加事项最终以市场监督管理 局核定为准。 证券代码：688793 证券简称：倍轻松 公告编号：2024-037 深圳市倍轻松科技股份有限公司 关于变更经营范围、修订章程并办理工商变更登记的 公告 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。 基于公司经营发展需要，同时为进一步完善公司治理结构，更好地促进规范 运作，根据《中华人民共和国公司法》《中华人民共和国证券法》《上市公司章 程指引》《上市公司独立董事管理办法》《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》等法律、 法规、规范性文件的规定，深圳市倍轻松科技股份有限公司（以下简称"倍轻松" 或"公司"）于 2024 年 10 月 12 日召开了公司第六届董事会第六次会议，审议通过 了《关于变更经营范围、修订章程并办理工商变更登记的议案》。现将具体情况 公告如下： 1、修订章程经营范围，因拟 ...

Group 1: Overseas Market Expansion - The company has established an overseas sales department to expand its international business, utilizing both online and offline channels for development [2] - Offline, subsidiaries are set up in key business areas to assist in the development of overseas channels; online, the company has successfully entered high-growth e-commerce platforms such as Amazon and Shopee [3] Group 2: Profit Margin Improvement - The overall gross margin has seen a year-on-year increase due to a more scientifically adjusted pricing system and optimized production costs [3] - Future strategies include continuous product upgrades and innovations to maintain gross margin and product competitiveness [3] Group 3: New Product Launches - In the first half of 2024, the company has increased R&D investment, launching over ten innovative and diverse new products, which have received positive market feedback [3] - More new products are expected to be launched in the second half of 2024, along with upgrades to existing products [3] Group 4: AI and Health Technology - The company is focused on traditional Chinese medicine and is developing its own AI models, including a small model and plans for a larger model in the future [3] - Collaborative products, such as a head massager with EEG detection, are being developed using big data algorithms [3]

Investment Rating - The report downgrades the investment rating for the company to "Recommend" with a target price of 39 RMB, compared to the current price of 33.04 RMB [1] Core Views - The company's overall revenue is under pressure, but profitability has significantly improved [1] - Despite weak domestic consumption, the company's overseas business has shown strong growth, particularly through platforms like Amazon and Shopee [1] - The company has optimized its marketing expenses and streamlined offline stores, leading to improved profitability [1] - The company is expected to accelerate its development through new product iterations and overseas market expansion [1] Financial Performance - In H1 2024, the company achieved revenue of 600 million RMB, a year-on-year increase of 0.7%, with net profit attributable to shareholders of 30 million RMB, a year-on-year increase of 203.1% [1] - In Q2 2024, revenue was 310 million RMB, a year-on-year decrease of 16.5%, while net profit attributable to shareholders was 10 million RMB, a year-on-year increase of 144.7% [1] - Gross margin in H1 2024 was 61.8%, an increase of 1.8 percentage points year-on-year, driven by higher sales of high-margin products [1] - The net profit margin in H1 2024 increased by 8.5 percentage points year-on-year to 4.3% [1] Product and Regional Breakdown - In H1 2024, revenue from shoulder, eye, neck, and scalp+head products was 220 million RMB, 70 million RMB, 70 million RMB, and 120 million RMB, respectively, with year-on-year changes of +28.2%, -33.0%, -46.2%, and +140.0% [1] - Domestic market revenue in H1 2024 was 570 million RMB, a slight decrease of 0.3% year-on-year, while overseas market revenue was 30 million RMB, an increase of 21.5% year-on-year [1] Future Outlook - The company is expected to benefit from the growing demand for small massage devices driven by health awareness, aging population, and increasing demand for youth care [1] - The company is expanding its domestic e-commerce and overseas channels, as well as adopting a new business model of provincial retail service providers to tap into new markets [1] - The company's profitability is expected to improve further with the launch of new products and continued overseas expansion [1] Financial Forecasts - The report adjusts the EPS forecasts for 2024 and 2025 to 0.69 RMB and 0.89 RMB, respectively, and introduces a new EPS forecast for 2026 of 1.18 RMB [1] - The PE ratios for 2024, 2025, and 2026 are projected to be 48x, 37x, and 28x, respectively [1]

根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市 规则》等有关规定，国投证券股份有限公司（以下简称"国投证券"、"保荐机构"） 作为深圳市倍轻松科技股份有限公司（以下简称"倍轻松"、"公司"）首次公开 发行股票并在科创板上市的保荐机构，负责倍轻松上市后的持续督导工作。 2024年半年度，国投证券对倍轻松的持续督导情况如下： | 工作内容 | 实施情况 | | --- | --- | | 1、建立健全并有效执行持续督导工作制度，并针对 | 国投证券已建立健全并有效执行了持 | | 具体的持续督导工作制定相应的工作计划。 | 续督导制度，已根据公司的具体情况 | | | 制定了相应的工作计划。 | | 2、根据中国证监会相关规定，在持续督导工作开始 | 国投证券已与倍轻松签订了保荐协 | | 前，与上市公司或相关当事人签署持续督导协议， | 议，该协议已明确了双方在持续督导 | | 明确双方在持续督导期间的权利义务，并报上海证 | | | 券交易所备案。 | 期间的权利义务。 | | | 2024年半年度持续督导期间，国投证 | | 3、通过日常沟通、定期回访、现场检查、尽职调查 | 券通过日常 ...

证券代码：688793 证券简称：倍轻松 公告编号：2024-035 深圳市倍轻松科技股份有限公司 关于参加 2024 年半年度集体业绩说明会的公告 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： 投资者可于 2024 年 9 月 12 日(星期四)16:00 前通过公司邮箱 ir@breo.com 将需要了解和关注的问题提前提供给公司。公司将在信息披露允许范围内就投资 者普遍关注的问题进行回答。 深圳市倍轻松科技股份有限公司（以下简称"公司"）已于 2024 年 8 月 27 日 发布公司 2024 年半年度报告，为便于广大投资者更全面深入地了解公司 2024 年 半年度经营成果、财务状况、发展理念，公司将参与由上交所主办的 2024 年半 年度软件及人工智能专场集体业绩说明会，此次活动将采用网络文字互动的方式 举行，投资者可登录上海证券交易所上证路演中心（http://roadshow.sseinfo.com/） 参与线上互动交流。 一、 说明会类型 本次投资者说明会以网络文字互动形式召开，公司将针对 ...

Investment Rating - The report maintains an "Overweight" rating for the company [1][4] Core Views - The company's H1 2024 performance met expectations, with a significant year-on-year improvement in profitability [1][3] - Revenue reached 604 million yuan, up 1% YoY - Net profit attributable to parent company was 26 million yuan, turning positive YoY - Non-GAAP net profit was 24 million yuan, also turning positive YoY - Q2 2024 saw a 16% YoY revenue decline to 310 million yuan, but profitability improved significantly [3] - Gross margin reached 60.92%, up 0.30 percentage points YoY - Net margin was 3.39%, up 9.56 percentage points YoY - The company has achieved profitability for two consecutive quarters, indicating continuous operational improvement [3] Channel and R&D Development - Channel optimization continues with 133 directly-operated stores and 63 franchised stores as of June 30, 2024 [3] - 10 fewer directly-operated stores but 19 more franchised stores compared to end of 2023 - New provincial retail service provider model effectively penetrates lower-tier markets - Online sales expanded through diversified e-commerce platform cooperation and new retail models [3] - Overseas channels developed through platforms like Amazon and TikTok, with local subsidiaries supporting offline expansion [3] - R&D made progress in four core systems: bionic, high-power, TCM diagnosis, and health management, enhancing product competitiveness [3] Financial Projections - Profit forecasts slightly lowered but still show strong growth [4] - 2024-2026 net profit projections: 62, 84, and 118 million yuan respectively - Corresponding YoY growth rates: positive, +34.4%, and +41.0% - Current P/E ratios: 43x (2024), 32x (2025), 23x (2026) - Key financial metrics show improvement [5] - 2024H1 gross margin: 61.8% - ROE: 6.7% (2024H1), projected to reach 17.6% by 2026 - EPS: 0.31 yuan (2024H1), projected to reach 1.37 yuan by 2026 Fundraising Projects - Marketing network construction project reached 84.69% completion by end of 2023 [8] - 123 stores established using raised funds, 49.60% completion rate - Expected to reach operational status by end of 2024 - R&D center upgrade and IT upgrade projects may face further delays [8] Historical Financial Performance - 2023 saw significant revenue growth but negative profitability [9] - Revenue: 1.275 billion yuan, up 42.3% YoY - Net loss: 51 million yuan - 2024 projections show recovery and growth [9] - Revenue: 1.401 billion yuan, up 9.9% YoY - Net profit: 62 million yuan, turning positive - Gross margin: 60.9%

证券研究报告 小家电Ⅲ 投资评级 买入-A 维持评级 6 个月目标价 37.62 元 股价 (2024-08-26) 31.49 元 交易数据 总市值(百万元) 2,706.42 流通市值(百万元) 2,706.42 总股本(百万股) 85.95 流通股本(百万股) 85.95 12 个月价格区间 25.0/39.69 元 升幅% 1M 3M 12M 相对收益 4.4 10.7 3.1 绝对收益 1.9 3.0 -7.3 李奕臻 分析师 相关报告 Q1 经营明显改善，业绩实现 扭亏 2024-04-25 [Table_Finance1] (亿元) 2022A 2023A 2024E 2025E 2026E 主营收入 9.0 12.7 13.4 16.8 20.3 净利润 -1.2 -0.5 0.7 1.3 1.7 每股收益(元) -1.45 -0.59 0.84 1.56 2.01 每股净资产(元) 5.50 4.71 5.79 6.88 8.29 公司快报 2024 年 08 月 27 日 倍轻松(688793.SH) Q2 经营效率提升，费用率下降 事件：倍轻松公布 2024 年半年度报告。公司 2024 ...

Financial Performance - The company's operating revenue for the first half of 2024 was approximately ¥603.53 million, representing a year-on-year increase of 0.69% compared to ¥599.40 million in the same period last year[14]. - The net profit attributable to shareholders of the listed company was approximately ¥26.13 million, a significant recovery from a loss of ¥25.35 million in the same period last year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥24.10 million, compared to a loss of ¥29.20 million in the previous year[14]. - The net cash flow from operating activities for the first half of 2024 was approximately ¥59.10 million, down 18.96% from ¥72.92 million in the same period last year[15]. - The total assets of the company at the end of the reporting period were approximately ¥791.61 million, an increase of 5.75% from ¥748.59 million at the end of the previous year[15]. - The net assets attributable to shareholders of the listed company decreased by 2.99% to approximately ¥392.56 million from ¥404.65 million at the end of the previous year[15]. - The company's operating costs decreased by 3.84% to approximately ¥230.41 million from ¥239.61 million in the previous year[60]. - Sales expenses decreased by 10.91% to approximately ¥296.07 million, down from ¥332.30 million in the same period last year[60]. - The company reported a basic earnings per share of ¥0.31 for the first half of 2024, compared to a loss of ¥0.30 per share in the same period of 2023[133]. - The total comprehensive income for the first half of 2024 was ¥26,074,518.32, a recovery from a loss of ¥25,162,931.58 in the same period of 2023[133]. Research and Development - The company's R&D investment accounted for 5.11% of operating revenue, an increase of 0.69 percentage points compared to the same period last year[16]. - The company achieved a total R&D investment of ¥30,857,435.91, representing a 16.53% increase compared to ¥26,479,522.56 in the same period last year[37]. - The company has accumulated a total of 1,868 intellectual property rights, including 842 authorized patents, with 189 invention patents and 373 utility model patents[30]. - The company has launched four major systems: Breo SuperBionic, Breo HyperMotion, Breo TCMDT, and Breo Pro-Health-M, enhancing its technological capabilities in the smart portable massager field[30]. - The company has implemented a new R&D management organization, focusing on rapid product development and market responsiveness to maintain its leading position[30]. - The R&D personnel count increased to 122, representing 12.60% of the total workforce, up from 10.75% in the previous year[43]. - The company invested a total of ¥28,598,527.43 in R&D projects during the first half of 2024, with a cumulative investment of ¥84,430,416.34 across all projects[42]. Market and Product Development - The global massage product market is expected to grow at a compound annual growth rate (CAGR) of 8.15% from 2021 to 2024, reaching nearly 23.6 billion USD by 2026[22]. - The Chinese massage product market is projected to reach 39.5 billion RMB by 2029, driven by rising disposable income and health awareness[24]. - The company focuses on the innovation of health products, particularly smart portable massagers that integrate advanced technologies with traditional Chinese medicine[19]. - The market for small massage devices is expanding rapidly, with a significant shift towards portable and flexible products that cater to younger consumers[20]. - The company is positioned to benefit from government policies promoting the development of smart health electronic products and the integration of new technologies in the health industry[21]. - The product matrix has been further enriched in 2024, with new products receiving positive market feedback, including the Scalp3 and iSee J plus, which ranked TOP1 in market share[51]. - The company is actively developing AI technology in traditional Chinese medicine, forming a "cloud-management-end-body" ecosystem for health monitoring and intervention[51]. - The company has established partnerships with research institutions and leading tech companies to accelerate core technology innovation and product development[30]. Financial Management and Risks - The company has outlined various risks and countermeasures in its report, emphasizing the importance of risk management in its operations[3]. - The report includes a forward-looking statement regarding the company's operational plans and development strategies, cautioning investors about potential risks[8]. - The company faces risks related to high sales expense ratios, which may impact operating performance if not managed effectively[54]. - The company is also at risk of declining gross margins due to potential increases in raw material prices and intensified industry competition[54]. - The company has not disclosed any plans for profit distribution or capital reserve transfer during this reporting period[4]. - There are no significant non-operating fund occupations by controlling shareholders or related parties reported[4]. Sustainability and Compliance - The company has established a reliable wastewater and waste gas treatment system, ensuring compliance with national and local environmental regulations without any exceedance of discharge standards[73]. - The company has implemented carbon reduction measures, including standardizing product packaging and streamlining internal components, achieving both environmental protection and cost reduction[75]. - The company has passed the ISO14001:2015 environmental management system certification, fulfilling its corresponding responsibilities according to the system standards[74]. - The management emphasized the importance of maintaining compliance with regulatory requirements during the expansion phase[84]. Shareholder and Governance - The company has committed to stabilizing its stock price and will take specific measures if the stock price falls below the audited net asset value per share for 20 consecutive trading days[85]. - The company will publicly explain the reasons for not taking stock price stabilization measures and apologize to shareholders if such measures are not implemented[86]. - The company will compensate investors for losses caused by any failure to fulfill public commitments related to stock price stabilization[88]. - The company has established a three-year plan for stock price stabilization following its initial public offering[85]. - The company committed to ensuring the accuracy and completeness of its IPO documents, with legal responsibilities for any misleading statements or omissions[89]. Legal and Regulatory Matters - The company has no major litigation or arbitration matters pending during the reporting period[101]. - The company has ensured compliance with relevant regulations regarding stock trading during the shareholding increase plan[99]. - The company has disclosed accurate and complete shareholder information in the issuance documents[98]. - The company has not engaged in any improper benefit transfers through its equity[99]. Future Outlook - The company provided guidance for the second half of 2024, expecting revenue to grow by an additional 20% compared to the first half[82]. - New product launches are anticipated to contribute an estimated 300 million RMB in additional revenue by Q4 2024[83]. - The company is actively pursuing market expansion strategies, targeting three new international markets by the end of 2024[95]. - A new marketing strategy is set to roll out in Q3 2024, aiming to increase brand awareness by 40%[82].

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 深圳市倍轻松科技股份有限公司（以下简称"倍轻松"或"公司"）第六届 监事会第三次会议于 2024 年 08 月 23 日在深圳市南山区创业路 1777 号海信南方 大厦 19 楼以现场表决方式召开，会议通知于 2024 年 08 月 09 日以邮件形式送达 公司全体监事。本次会议由监事会主席蔡金发先生召集并主持，会议应出席监事 3 人，实际出席监事 3 人。本次会议的召集、召开符合《中华人民共和国公司法》 （以下简称《公司法》）等法律、法规和《深圳市倍轻松科技股份有限公司章程》 （以下简称《公司章程》）的有关规定，会议决议合法有效。 二、监事会会议审议情况 经全体监事表决，形成决议如下： （一）、审议通过《关于 2024 年半年度报告及其摘要的议案》 证券代码：688793 证券简称：倍轻松 公告编号：2024-034 深圳市倍轻松科技股份有限公司 第六届监事会第三次会议决议公告 具体内容详见公司于同日刊登在上海证券交易所网站（www.sse.com. ...