Core Viewpoint - Hefei Snowkye Electric Co., Ltd. has announced the repurchase and cancellation of part of its restricted stock due to the departure of an incentive target, resulting in a decrease in registered capital and total shares outstanding [2][3]. Group 1: Repurchase and Cancellation Details - The company plans to repurchase and cancel 8,000 shares of restricted stock from a departing incentive target, adjusting the repurchase price to 7.17 yuan per share [2]. - Following the repurchase, the total share capital will decrease from 183,038,400 shares to 183,030,400 shares, and the registered capital will change from 183,038,400 yuan to 183,030,400 yuan [2]. Group 2: Notification to Creditors - Creditors are notified that they have 45 days from the announcement date to request debt repayment or provide guarantees due to the reduction in registered capital [3]. - If creditors do not exercise their rights within the specified period, the repurchase and cancellation will proceed as per legal procedures [3]. Group 3: Shareholder Meeting - The third temporary shareholder meeting was held on September 15, 2025, with 85 shareholders present, representing 104,822,458 shares, which is 57.2680% of the total voting shares [13]. - The meeting approved several resolutions, including the repurchase of restricted stock and changes to registered capital, with the latter requiring a two-thirds majority for approval [17][18]. Group 4: Voting and Legal Compliance - The meeting utilized both on-site and online voting methods, ensuring compliance with relevant laws and regulations [12][19]. - The legal opinion confirmed that the meeting's procedures and voting results were valid and in accordance with the law [19].

Core Viewpoint - Snow Qi Electric's performance in the first half of 2025 shows a decline in revenue but an increase in net profit, indicating a mixed financial outlook amid strategic adjustments and market challenges [2][3]. Financial Performance - In the first half of 2025, Snow Qi Electric achieved revenue of 896.57 million yuan, a decrease of 3.92% year-on-year, while net profit attributable to shareholders was 34.99 million yuan, with a growth of 13.70% after excluding share-based payment impacts [2]. - Domestic revenue accounted for 55.84% of total revenue at 500.68 million yuan, while overseas revenue grew by 20.91% to 395.90 million yuan, representing 44.16% of total revenue [2]. Profitability Analysis - The company's gross margin increased slightly by 0.21%, but net margin decreased by 0.35 percentage points due to a rise in expense ratios, particularly a 26.02% increase in sales expenses [3]. - The implementation of a restricted stock incentive plan led to amortized expenses of approximately 9.35 million yuan in the first half of the year, contributing to the net profit growth [3]. Accounts Receivable - As of June 30, 2025, accounts receivable stood at 387.98 million yuan, accounting for 18.16% of total assets, showing a decrease of 2.62% year-on-year [4]. - The proportion of accounts receivable over one year old is only 1.39%, indicating a stable collection situation with no significant overdue accounts [4]. Shareholder Actions - In April 2025, shareholders disclosed plans to reduce their stakes by 3% and 1%, respectively, which have since been completed without major impacts on the company's governance or operations [5]. Product Strategy - The company is experiencing a transition period, focusing on high-capacity refrigerators, with products over 500L increasing from 68% to 76% of the product mix [6]. - The company aims to enhance R&D and adjust product and customer structures while emphasizing overseas market expansion [6]. Strategic Acquisitions - The acquisition of Shengbang Electric, a long-time supplier, aims to extend the supply chain upstream, enhance component reliability, and reduce operational risks and costs [7]. Subsidiary Performance - Wuliang Intelligent, a high-tech enterprise, reported approximately 28 million yuan in revenue for PCBA products in the first half of 2025, with a focus on expanding into industrial and new energy sectors [8]. International Market Strategy - The company has sales in over 100 countries, with significant growth in South America, Asia, and North America, while adjusting strategies to address slight declines in the North American market [10].

Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 896.57 million CNY, a decrease of 3.92% compared to the same period last year [2] - The net profit attributable to shareholders was 34.99 million CNY, with a growth of 13.70% when excluding share-based payment impacts [2] - The revenue breakdown by product shows that refrigerators, commercial display cabinets, and PCBA generated 756.43 million CNY (84.37%), 78.42 million CNY (8.75%), and 28.46 million CNY (3.17%) respectively [3] Group 2: Regional Revenue Distribution - Domestic revenue accounted for 500.68 million CNY, representing 55.84% of total revenue, with a year-on-year decline of 17.34% [3] - Overseas revenue was 395.89 million CNY, making up 44.16% of total revenue, and saw a year-on-year increase of 20.91% [3] Group 3: Cost and Profitability Metrics - The gross margin increased by 0.21% year-on-year, while the net margin decreased by 0.35 percentage points due to a rise in expense ratios [3] - Sales expenses surged by 59.42%, primarily due to increased marketing costs aimed at overseas market expansion [3] Group 4: Accounts Receivable and Risk Management - Accounts receivable reached 388.98 million CNY, accounting for 18.16% of total assets, with a year-on-year decrease of 2.62% [3] - Overdue accounts receivable over one year constituted only 1.39% of total accounts receivable, indicating a low risk [3] Group 5: Shareholder Actions and Company Outlook - Major shareholders reduced their stakes by 3% and 1%, respectively, but this is not expected to impact the company's governance or operations significantly [4] - The management remains confident in the company's long-term growth strategy, focusing on technological advancements and global market expansion [4] Group 6: Strategic Acquisitions and Market Position - The company announced the acquisition of a 70% stake in Shengbang Electric, aimed at enhancing supply chain stability and reducing procurement costs [5] - The subsidiary Wuliang Intelligent is expanding into new energy storage and automotive electronics, viewed as a second growth curve for the company [6] Group 7: International Market Strategy - The company is actively expanding its overseas market presence, with significant growth in regions such as South America, Asia, and North America [6] - Strategies are in place to adapt to international trade policy changes and to balance regional market exposure [6]

证券代码：001387 证券简称：雪祺电气 公告编号：2025-059 一、通知债权人的原因 合肥雪祺电气股份有限公司（以下简称"公司"）于 2025 年 8 月 26 日分别 召开第二届董事会第六次会议和第二届监事会第四次会议，并于 2025 年 9 月 15 日召开 2025 年第三次临时股东大会，审议通过了《关于回购注销 2025 年限 制性股票激励计划部分限制性股票及调整回购价格的议案》及《关于变更注册 资本、修订<公司章程>并办理工商变更登记的议案》。 根据《公司 2025 年限制性股票激励计划（草案）》的有关规定，鉴于 2025 年限制性股票激励计划中 1 名激励对象因个人原因已离职，不再具备激励 对象资格，公司拟回购注销上述离职激励对象已获授但尚未解除限售的限制性 股票 8,000 股，同时，鉴于公司 2024 年度权益分派已实施完毕，回购价格调整 为 7.17 元/股。具体内容详见公司于 2025 年 8 月 28 日披露的《关于回购注销 2025 年限制性股票激励计划部分限制性股票及调整回购价格的公告》（公告编 号：2025-054）。 本次回购注销完成后，公司总股本由 183,038,40 ...

北京市嘉源律师事务所 关于合肥雪祺电气股份有限公司 2025 年第三次临时股东大会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 雪祺电气·2025 年第三次临时股东大会 嘉源·法律意见书 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致：合肥雪祺电气股份有限公司 北京市嘉源律师事务所 关于合肥雪祺电气股份有限公司 2025 年第三次临时股东大会的 法律意见书 嘉源（2025）-04-669 北京市嘉源律师事务所（以下简称"本所"）接受合肥雪祺电气股份有限公 司（以下简称"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司股东会规则》（以下简称"《股东会规则》"）等现行有效的法 律、行政法规、部门规章、规范性文件（以下简称"法律法规"）以及《合肥雪 祺电气股份有限公司章程》（以下简称"《公司章程》"）的有关规定，指派本所律 师对公司 2025 年第三次临时股东大会（以下简称"本次股东大会"）进行见证， 并依法出具本法律意见书。 一、本次股东大会的召集与召开程 ...

证券代码：001387 证券简称：雪祺电气 公告编号：2025-058 合肥雪祺电气股份有限公司 2025年第三次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 通过深圳证券交易所互联网系统（http://wltp.cninfo.com.cn）投票的具体时 间为：2025年9月15日9:15-15:00的任意时间。 2、召开地点：安徽省合肥市经济技术开发区青鸾路369号合肥雪祺电气股份 有限公司会议室 3、召开方式：本次股东大会采用现场投票与网络投票表决相结合的方式召 开 1、本次股东大会不存在否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一）会议召开情况 1、召开时间： 现场会议时间：2025 年 9 月 15 日（星期一）14:00 网络投票时间：2025 年 9 月 15 日（星期一） 其中，通过深圳证券交易所交易系统进行网络投票的时间为2025年9月15日 上午9:15-9:25，9:30-11:30，下午13:00-15:00； 4、召集人：合肥雪祺电气股份有限公司 ...

Company Overview - Company Name: Hefei Xueqi Electric Co., Ltd. [1] - Stock Code: 001387.SZ [1] - IPO Application Date: September 30, 2022 [1] - Listing Date: January 11, 2024 [1] - Industry: Electrical Machinery and Equipment Manufacturing [1] - IPO Sponsor: CITIC Securities [1] IPO Details - Underwriting and Sponsorship Fees: 37.7358 million yuan [1] - Underwriting Commission Rate: 7.18%, lower than the average of 7.71% [1] - Average Days from Application to Listing: 629.45 days; Xueqi Electric's duration is 468 days [1] - Issuance Price-Earnings Ratio: 22.53 times, compared to the industry average of 17.02 times [1] Market Performance - First Day Stock Price Increase: 113.52% compared to the issuance price [1] - Stock Price Increase in First Three Months: 38.82% compared to the issuance price [1] Fundraising and Financial Performance - Expected Fundraising Amount: 659 million yuan; Actual Fundraising Amount: 526 million yuan, a decrease of 20.18% [1] - 2024 Revenue: Decreased by 17.51% year-on-year [1] - 2024 Net Profit: Decreased by 27.73% year-on-year [1] - 2024 Non-recurring Net Profit: Decreased by 28.85% year-on-year [1] Additional Metrics - Abandonment Rate: 0.55% [1] - Total Score for IPO Project: 85.5 points, classified as Grade B [1] - Negative Factors Affecting Score: Disclosure quality needs improvement, high issuance P/E ratio, reduced actual fundraising amount, decline in revenue and net profit in the first accounting year, abandonment rate [1]

Market Overview - The white goods sector experienced a decline of 0.5% on September 15, with Aucma leading the drop [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index rose by 0.63% to 13005.77 [1] Individual Stock Performance - Major stocks in the white goods sector showed varied performance, with Gree Electric down by 0.27% and Midea Group down by 0.53% [1] - Aucma saw the largest decline at 1.33%, while Snow Qi Electric and Changhong Meiling had slight increases of 0.73% and 0.00% respectively [1] Trading Volume and Capital Flow - The total net outflow of main funds in the white goods sector was 413 million yuan, while retail investors saw a net inflow of 432 million yuan [1] - The trading volume for Gree Electric reached 20.13 billion yuan, indicating significant investor interest despite the decline [1] Fund Flow Analysis - Snow Qi Electric had a net inflow of 2.33% from retail investors, while Aucma and Hisense Home Appliances experienced significant net outflows from main funds [2] - Retail investors contributed positively to the capital flow in several stocks, with notable inflows in Deep Kangjia A and Haier Smart Home [2]

Company Overview - Company Name: Hefei Xueqi Electric Co., Ltd [1] - Stock Code: 001387.SZ [1] - IPO Application Date: September 30, 2022 [1] - Listing Date: January 11, 2024 [1] - Underwriter: CITIC Securities [1] - Legal Advisor: Beijing Jiayuan Law Firm [1] - Audit Firm: Rongcheng Accounting Firm [1] Disclosure and Evaluation - Disclosure Compliance: Required to clarify compliance with regulatory guidelines and provide further details on trademarks and their impact on operations [1] - Regulatory Penalties: No penalties incurred [2] - Public Supervision: No deductions for public supervision [2] - Listing Cycle: 468 days, shorter than the average of 629.45 days for 2024 A-share listings [2] - Multiple Applications: Not applicable, no deductions [3] Financial Metrics - Underwriting Fees: 37.7358 million yuan, with a commission rate of 7.18%, lower than the average of 7.71% [3] - Initial Listing Performance: Stock price increased by 113.52% on the first day [4] - Three-Month Performance: Stock price increased by 38.82% compared to the issue price [6] - Issuance Price-Earnings Ratio: 22.53 times, significantly higher than the industry average of 17.02 times [7] - Actual Fundraising: Expected to raise 659 million yuan, but actual fundraising was 526 million yuan, a decrease of 20.18% [8] Post-Listing Performance - Revenue Decline: 2024 revenue decreased by 17.51% year-on-year [9] - Net Profit Decline: Net profit attributable to shareholders decreased by 27.73% year-on-year [9] - Non-Recurring Profit Decline: Non-recurring net profit decreased by 28.85% year-on-year [9] - Subscription Rate: Abandonment rate of 0.55% [10] Overall Assessment - Total Score: 85.5 points, classified as B-level [10] - Negative Factors: Disclosure quality needs improvement, high issuance P/E ratio, reduced actual fundraising, and declining revenue and profit in the first accounting year [10]

Core Viewpoint - The company, Xueqi Electric (001387), is poised to benefit from upcoming government policies promoting the replacement of old consumer goods, particularly in the home appliance sector, starting in the second half of 2024 [1] Group 1: Company Strategy - The company has consistently focused on providing large refrigerators (over 400L) and commercial display cabinets to downstream brand partners, utilizing an ODM model for direct sales [1] - Products are sold through multiple channels, both online and offline, to enhance market reach [1] Group 2: Market Opportunities - The company is actively monitoring relevant policies and market dynamics to seize opportunities for growth [1] - There is an emphasis on expanding both domestic and international markets to improve operational performance and deliver returns to investors [1]