Core Insights - The report maintains a positive outlook on the home appliance sector, particularly focusing on the cost reduction potential of aluminum replacing copper in air conditioning systems [2][5] - The adoption of aluminum-copper technology is seen as a significant step towards reducing production costs amid rising copper prices and resource scarcity [10][15] Group 1: Aluminum-Copper Technology Impact - The use of aluminum instead of copper in air conditioning units can lead to substantial cost savings, with estimates suggesting a reduction of 208 to 277 RMB per unit when replacing 50% of copper, and up to 416 to 554 RMB when replacing 100% [11][12] - Copper currently constitutes about 26% to 33% of the cost in standard air conditioning units, with high-end models reaching over 40% [11][12] - The global market has seen significant adoption of aluminum-copper products, particularly in Japan where approximately 40% to 50% of air conditioners use aluminum heat exchangers [15][16] Group 2: Domestic Market Challenges - Despite the cost advantages, the domestic promotion of aluminum-copper air conditioners faces challenges, including inferior thermal conductivity and corrosion resistance compared to copper [19][20] - Consumer perception is a major barrier, as negative opinions about aluminum's reliability persist, complicating market acceptance [19][20] - The first domestic aluminum-copper air conditioner was launched by Wanbao in collaboration with JD.com, targeting the mid-to-low-end market, which may help accelerate industry-wide material transitions [16][17] Group 3: Industry Performance and Trends - The home appliance sector has shown mixed performance, with the overall index increasing by 0.44%, while specific segments like white goods and black goods experienced varied changes [21][22] - Recent data indicates a decline in domestic sales growth for air conditioners, refrigerators, and washing machines, reflecting broader market challenges [33][47] - The report highlights the importance of monitoring raw material prices, with copper and aluminum prices showing significant fluctuations that could impact production costs [29][31]

Core Viewpoint - The company has received inquiries regarding its 15 billion yuan orders in the automotive thermal management sector, indicating investor skepticism about the order's validity and execution timeline [2] Group 1: Company Performance - The company stated that the 15 billion yuan figure represents the projected customer demand for its new energy vehicle thermal management business over the entire product lifecycle [2] - Actual procurement amounts are influenced by fluctuations in the sales volume of the original equipment manufacturers (OEMs) [2] Group 2: Order Execution Uncertainty - The execution timeline of the orders is subject to uncertainty, as it may be adjusted based on whether the sales volume of the vehicle models meets or exceeds expectations [2]

证券日报网讯12月24日，盾安环境（002011）在互动平台回答投资者提问时表示，公司凭借在汽车热管 理核心零配件方面的先进技术与可靠质量，已成为国内外众多车企可靠供方。因涉及商业信息保密要 求，具体客户及产品情况不便透露。 ...

浙江盾安人工环境股份有限公司 ZHEJIANG DUN'AN ARTIFICIAL ENVIRONMENT CO.,LTD 章 程 （经 2025 年第五次临时股东会审议通过） 二〇二五年十二月 0 | 第一章 | 总 | 则 | | 2 | | --- | --- | --- | --- | --- | | 第二章 | | 经营宗旨和范围 3 | | | | 第三章 | 股 | 份 | | 4 | | 第一节 | | 股份发行 | 4 | | | 第二节 | | 股份增减和回购 | 5 | | | 第三节 | | 股份转让 | 6 | | | 第四章 | | 股东和股东会 7 | | | | 第一节 | | 股 东 | 7 | | | 第二节 | | 控股股东和实际控制人 | 10 | | | 第三节 | | 股东会的一般规定 | 11 | | | 第四节 | | 股东会的召集 | 13 | | | 第五节 | | 股东会的提案与通知 | 15 | | | 第六节 | | 股东会的召开 | 16 | | | 第七节 | | 股东会的表决和决议 | 19 | | | 第五章 | | 董事与董事会 23 | | ...

证券代码：002011 证券简称：盾安环境 公告编号：2025-070 浙江盾安人工环境股份有限公司 关于回购注销部分限制性股票减少注册资本暨通知 债权人的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 （二）债权申报具体方式如下： 1、申报时间：2025 年 12 月 25 日起 45 日内（工作日上午 9:30-11:30，下午 13:00-16:30）。 2、申报登记地点：杭州市滨江区泰安路 239 号盾安发展大厦 20 楼证券投资 部。 3、联系人：王晨瑾 浙江盾安人工环境股份有限公司（以下简称"公司"）2025 年 11 月 25 日 召开第九届董事会第七次会议，2025 年 12 月 24 日召开 2025 年第五次临时股东 会，审议通过了《关于回购注销 2023 年限制性股票与股票期权激励计划部分限 制性股票的议案》《关于减少注册资本暨修订<公司章程>的议案》，同意回购 注销不符合激励条件的激励对象已获授但尚未解除限售的限制性股票共 199,800 股，占公司回购注销前总股本的 0.02%。具体内容详见公司于 2025 年 11 月 27 ...

FANGDA PARTNERS http://www.fangdalaw.com 中国上海市石门一路 288 号 电子邮件 E-mail: email@fangdalaw.com 兴业太古汇香港兴业中心二座 24 楼 电 话 Tel.: +86-21-2208 1166 邮政编码：200041 传 真 Fax.: +86-21-5298 5599 24/F, HKRI Centre Two HKRI Taikoo Hui 288 Shi Men Yi Road Shanghai, PRC 上海市方达律师事务所 关于浙江盾安人工环境股份有限公司 2025 年第五次临时股东会的法律意见书 致：浙江盾安人工环境股份有限公司 上海市方达律师事务所（以下简称"本所"）是具有中华人民共和国境内法律 执业资格的律师事务所。根据相关法律顾问协议，本所指派律师出席浙江盾安人 工环境股份有限公司（以下简称"公司"）2025 年第五次临时股东会（以下简称 "本次股东会"），并就本次股东会的召集和召开程序、参与表决和召集会议人员 的资格、表决程序和表决结果等有关事宜出具本法律意见书。 本法律意见书依据《中华人民共和国公司法》《中华人 ...

2025年第五次临时股东会决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东会没有出现否决提案的情形； 证券代码：002011 证券简称：盾安环境 公告编号：2025-069 浙江盾安人工环境股份有限公司 2、本次股东会不涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、会议召开 （1）时间 ①现场会议召开时间：2025 年 12 月 24 日（星期三）下午 15:30。 ②网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为： 2025 年 12 月 24 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00；通过深圳证券 交易所互联网投票系统进行网络投票的具体时间为：2025 年 12 月 24 日 9:15-15:00。 （2）现场会议召开地点：浙江省诸暨市店口镇解放路 288 号公司会议室 其中：通过现场投票的中小股东 3 人，代表有表决权股份 313,800 股，占公 司有表决权股份总数的 0.0292％。 通过网络投票的中小股东 277 人，代表有表决权股份 8,50 ...

Core Viewpoint - The company emphasizes its strategic layout in the new energy vehicle industry chain, highlighting its commitment to the production, research, and sales of core components for thermal management in electric vehicles [1] Group 1: Company Initiatives - The company established a wholly-owned subsidiary, Shun'an Automotive Thermal Management Technology Co., Ltd., in 2017 to focus on the thermal management of new energy vehicles [1] - The company has formed long-term and stable business partnerships with numerous automotive air conditioning system suppliers and pipeline manufacturers, becoming a reliable supplier for several automotive enterprises [1] Group 2: Future Outlook - The company plans to continue closely monitoring industry development trends and technological advancements to dynamically layout emerging businesses in the new energy vehicle sector [1]

Core Points - The Shanghai Composite Index closed at 3867.04 points, above the annual line, with an increase of 1.10% [1] - The total trading volume of A-shares reached 1.367165 trillion yuan [1] - A total of 74 A-shares have surpassed the annual line today, with notable stocks showing significant deviation rates [1] Summary by Category Stock Performance - The stocks with the highest deviation rates include Hanxin Technology (10.28%), Jiaying Pharmaceutical (8.17%), and Runpu Food (6.44%) [1] - Other stocks that just crossed the annual line include ST Qibu, Yinghuatech, and Jiangxi Changyun, which have lower deviation rates [1] Trading Data - The trading performance of selected stocks shows significant daily changes, with Hanxin Technology leading with a daily increase of 13.96% and a turnover rate of 26.99% [1] - Jiaying Pharmaceutical and Runpu Food also showed strong daily increases of 9.96% and 9.35%, respectively [1] Additional Stock Information - Other notable stocks with positive performance include Yongji Co. (7.50%), Kaiwang Technology (13.86%), and Chuanhuan Technology (7.57%) [1] - The table lists various stocks with their respective trading data, including daily change percentages, turnover rates, annual line prices, latest prices, and deviation rates [1][2]

证券代码：002011 证券简称：盾安环境 公告编号：2025-068 浙江盾安人工环境股份有限公司 关于 2025 年限制性股票与股票期权激励计划 股票期权授予登记完成的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 根据《上市公司股权激励管理办法》、深圳证券交易所、中国证券登记结算 有限责任公司深圳分公司的有关规定，浙江盾安人工环境股份有限公司（以下简 称"公司"）完成了2025年限制性股票与股票期权激励计划（以下简称"本激励计 划"）中股票期权的授予登记工作，现将有关情况公告如下： 一、本激励计划已履行的决策程序和信息披露情况 （一）公司薪酬与考核委员会拟订了《浙江盾安人工环境股份有限公司长期 激励计划（草案）》《浙江盾安人工环境股份有限公司长期激励计划第二期暨 2025 年限制性股票与股票期权激励计划（草案）》及其摘要和《浙江盾安人工环境股 1 股票期权简称：盾安JLC4 股票期权代码：037948 股票期权授予日：2025年11月25日 股票期权授予登记完成日：2025年12月15日 股票期权授予登记数量：4,770,000股 ...