浙江苏泊尔股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈 述或重大遗漏。 特别提示： 1、本次股东大会无新增、变更、否决提案的情况； 2、本次股东大会不涉及变更前次股东大会决议。 证券代码：002032 证券简称：苏泊尔 公告编号：2025-033 浙江苏泊尔股份有限公司 3、本次提交审议的议案进行投票表决时，关联股东回避了表决。 一、会议召开情况 1、召开时间： 现场会议时间：2025 年 4 月 21 日下午 14:00 网络投票时间：2025 年 4 月 21 日 其中，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 4 月 21 日上午 9:15- 9:25，9:30-11:30，下午 1:00-3:00；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 4 月 21 日上午 9:15 至下午 3:00 期间的任意时间。 2、召开地点：浙江省杭州市滨江区江晖路 1772 号苏泊尔大厦 23 层会议室 3、召开方式：现场投票和网络投票相结合的方式 4、召集人：公司董事会 5、主持人 ...

苏泊尔 2024 年度股东大会法律意见书 国浩律师（杭州）事务所 国浩律师（杭州）事务所 关于浙江苏泊尔股份有限公司 2024 年度股东大会之 法 律 意 见 书 致：浙江苏泊尔股份有限公司（"贵公司"） 国浩律师（杭州）事务所（以下简称"本所"）接受贵公司的委托，指派本所 律师出席贵公司于 2025 年 4 月 21 日在浙江省杭州市滨江区江晖路 1772 号苏泊 尔大厦 23 层会议室召开的 2024 年度股东大会（以下简称"本次股东大会"），并 依据《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》"）等法律、行政法规、规范性文件及《浙 江苏泊尔股份有限公司章程》（以下简称"《公司章程》"）的规定，出具本法 律意见书。 为出具本法律意见书，本所律师对贵公司本次股东大会所涉及的有关事项 进行了审查，查阅了本所律师认为出具本法律意见书所必须查阅的文件，并对 有关问题进行了必要的核查和验证。 贵公司已向本所承诺：贵公司向本所律师所提供的文件和所作陈述及说明 是完整的、真实的和有效的，有关原件及其上面的签字和印章是真实的，且一 切足以影响本法律意见书的事实和文 ...

近日，苏泊尔、小熊电器等一众小家电企业先后发布了年度报告。 另外，新宝股份也发布了业绩快报。 01 2024年，苏泊尔营业总收入224.27亿元，同比增长5.27%；新宝股份营业总收入168.21亿元，同比增长14.84%；小熊电器营业总收入47.58亿元，同比增长 0.98%，三家小家电企业2024年营收均实现了正增长。 记者进一步梳理发现，苏泊尔、新宝股份、小熊电器这三家企业之所以能实现正增长背后均离不开同一个原因——海外业务增长迅猛。财报显示，2024年 这三家企业的海外营收增速均超20%，最高超80%。 海外收入"狂飙"，扛起营收增长大旗 财报数据显示，2024年，苏泊尔内销收入149.25亿元，同比下降1.21%；外贸收入75.02亿元，同比增长21.07%。 不过，海外业务快速发展之际，苏泊尔、小熊电器们却遭遇美国"对等关税"。4月9日，美国政府"对等关税"生效。关税壁垒下，这些企业将会受到多大影 响？ 苏泊尔在年报中指出，内销方面，面对竞争激烈的市场环境与消费者更理性的市场需求，公司内销收入有小幅下滑，但公司通过持续创新及强大的渠道竞 争优势，采取积极措施持续提高营销效率并严格控制各项费用支出， ...

Core Viewpoint - The Shanghai Consumer Protection Commission conducted a comparative test on 20 mainstream brands of non-stick frying pans, revealing safety and durability issues among several products, which raises concerns for consumers in selecting kitchenware [1][4][5]. Group 1: Test Overview - The comparative test included 20 brands, such as "Royalstar," "Zwilling," "Tefal," and others, with prices ranging from 105 yuan to 619 yuan [3][4]. - The test evaluated safety, durability, non-stick properties, and handle performance of the frying pans [4][10]. Group 2: Safety Testing Results - One sample branded "BRK" failed to meet the new national safety standards, with aluminum migration exceeding the limit of 1 mg/kg [5]. - The company stated that the sample was produced before the new standards were implemented, adhering to the old standards [5]. Group 3: Durability and Non-Stick Performance - Two samples showed base material exposure after 30,000 friction cycles, indicating poor durability [6][8]. - After frying eggs, two samples had residues that were difficult to remove, while eight samples exhibited varying degrees of sticking during the initial stir-frying of food [8][10]. Group 4: Handle Performance - Eight samples had handle temperatures exceeding 40°C during cooking, which could lead to discomfort for users [10][12]. - The test included both induction and gas stove heating methods, with specific samples identified for high handle temperatures [12]. Group 5: Consumer Recommendations - Consumers are advised to select products that comply with the latest national safety standards and to avoid using sharp utensils on coated pans to prolong their lifespan [13].

经中国证券登记结算有限责任公司深圳分公司审核确认，上述股票期权的注销事项已于2025年4月8日办 理完毕。 公司本次注销股票期权事项符合公司2024年股票期权激励计划、《上市公司股权激励管理办法》、《深 圳证券交易所上市公司自律监管指南第1号一一业务办理》等法律法规和规范性文件的相关规定，注销 原因及数量合法、有效，且程序合规。本次注销股票期权不会对公司股本结构造成影响，不存在损害公 司及其他股东特别是中小股东利益的情况。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002032 证券简称：苏泊尔 公告编号：2025-032 浙江苏泊尔股份有限公司 关于部分获授的股票期权注销完成的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 浙江苏泊尔股份有限公司（以下简称 "公司"、"本公司"或"苏泊尔"）于2025年3月27日召开的第八届董 事会第十四次会议和第八届监事会第十四次会议审议通过《关于注销部分获授的股票期权的议案》。鉴 于公司《浙江苏泊尔股份有限公司2024年股票期权激励计划（草案）》（以下简称"2024年股票期权激 励计划"）中激励对 ...

浙江苏泊尔股份有限公司 浙江苏泊尔股份有限公司（以下简称 "公司"、"本公司"或"苏泊尔"）于 2025 年 3 月 27 日召 开的第八届董事会第十四次会议和第八届监事会第十四次会议审议通过《关于注销部分获授的股票期 权的议案》。鉴于公司《浙江苏泊尔股份有限公司 2024 年股票期权激励计划（草案）》（以下简称"2024 年股票期权激励计划"）中激励对象张国华、涂赟因个人原因发生离职，公司拟根据 2024 年股票期权 激励计划中的相关规定以及 2024 年第三次临时股东大会的授权，对上述 2 名离职激励对象获授的共 计 64,500 份股票期权予以注销。具体内容详见刊登于 2025 年 3 月 28 日《证券时报》、《中国证券报》、 《证券日报》及巨潮资讯网 http://www.cninfo.com.cn 的《关于注销部分获授的股票期权的公告》（公 告编号：2025-024）。 经中国证券登记结算有限责任公司深圳分公司审核确认，上述股票期权的注销事项已于 2025 年 4 月 8 日办理完毕。 公司本次注销股票期权事项符合公司2024年股票期权激励计划、《上市公司股权激励管理办法》、 《深圳证券交易所上市 ...

Group 1: Financial Performance - The company reported a significant improvement in performance compared to industry peers, receiving positive feedback from investors [2] - The first quarter of 2025 earnings report is expected to be released on April 25, 2025 [1] Group 2: Market Strategy and Growth - The company aims to enhance its market position by focusing on innovation and quality, addressing niche demands such as small housing and aesthetic preferences [2] - The company is actively expanding its customer base in the export market and adopting new technologies [2] Group 3: Challenges and Opportunities - The company acknowledges potential challenges such as U.S. tariffs and increasing competition, but remains optimistic about market improvement due to government measures to boost consumption [2] - The company is undergoing a reassessment for high-tech enterprise certification, indicating ongoing commitment to innovation [2] Group 4: International Operations - The company has a joint venture in Indonesia, which accounts for a financial entry of 548,000 RMB in Indonesian Rupiah [2]

Core Viewpoint - The electric pressure cooker market in China is experiencing significant growth, with a projected sales revenue of 5.1 billion yuan in 2024, driven by rising living standards and the increasing demand for multifunctional kitchen appliances [1][13]. Industry Definition and Classification - Electric pressure cookers are electric heating devices that use temperature and pressure control to achieve rapid cooking, combining the advantages of traditional pressure cookers and rice cookers [2]. - They are characterized by high thermal efficiency (over 80%), time and energy savings, health benefits, convenience, and durability [2]. Industry Development History - The electric pressure cooker industry in China has evolved through several key stages, starting from its inception in the 1950s to the current era of smart and multifunctional products [6][7]. - The market has matured over the years, with brands like Midea and Supor leading through technological innovation and quality enhancement [7]. Industry Supply Chain Analysis - The supply chain consists of upstream raw material suppliers, midstream manufacturers, and downstream sales channels, all of which are interdependent and promote the healthy development of the electric pressure cooker industry [4]. - China is the largest producer of stainless steel, with a production of 39.44 million tons in 2024, which supports the electric pressure cooker industry by providing stable raw material supply [9]. - Aluminum alloy production is also on the rise, reaching 16.14 million tons in 2024, ensuring timely access to materials for manufacturers [11]. Current Industry Status - The electric pressure cooker market is increasingly favored by consumers due to its diverse cooking functions and growing quality expectations [13]. - Consumers are now looking for products that offer safety, durability, intelligence, and effective cooking results for various ingredients [13]. Key Companies Analysis - Midea Group leads the market with strong technological innovation and high market share, continuously launching advanced products [15][17]. - Supor is known for its high-quality products and strong brand reputation, focusing on both domestic and international markets [19]. - Joyoung leverages its experience in kitchen appliances to innovate and meet diverse consumer needs [15]. - Other notable companies include Boss Electric, Double Happiness, and Bear Electric, each with unique market strategies and product offerings [15][17]. Future Development Trends - The industry is moving towards deeper integration of smart technology, allowing for remote control and enhanced safety features in electric pressure cookers [21]. - There is a growing trend towards multifunctionality, with products designed to perform various cooking tasks, catering to diverse consumer needs [22]. - Aesthetic design is becoming increasingly important, with manufacturers offering a variety of styles and colors to meet consumer preferences [23].

Core Insights - The company reported a revenue of 22.43 billion yuan for 2024, representing a year-on-year growth of 5.3% [1] - The net profit attributable to shareholders reached 2.24 billion yuan, with a year-on-year increase of 3% [1] - The company declared a cash dividend of 2.24 billion yuan, achieving a payout ratio of 99.7% [2] Revenue Breakdown - Revenue from cooking appliances, food preparation appliances, cookware and utensils, and other home appliances were 8.66 billion yuan, 3.8 billion yuan, 6.84 billion yuan, and 3.13 billion yuan respectively, with year-on-year changes of -2.6%, +9.1%, +12.9%, and +8.9% [2] - Domestic and overseas sales generated revenues of 14.93 billion yuan and 7.5 billion yuan respectively, with year-on-year growth rates of -1.2% and +21.1% [2] - Revenue from direct sales, distribution, and export OEM were 2.97 billion yuan, 11.96 billion yuan, and 7.5 billion yuan respectively, with year-on-year changes of +19.1%, -5.3%, and +21.2% [2] Profitability Metrics - The overall gross margin decreased by 1.7 percentage points to 24.7%, with specific margins for cooking appliances, food preparation appliances, cookware and utensils, and other home appliances at 24.3%, 21.5%, 27%, and 24.4% respectively [3] - The net profit margin for 2024 was 10%, showing a slight decline of 0.2 percentage points [3] - The company maintained a stable net profit margin despite a decrease in gross margin, indicating effective cost management [3] Market Position and Strategy - The company achieved the highest market share in both online and offline markets for kitchen small appliances and cookware in 2024 [3] - The company leverages its strong brand, mature product lines, and established distribution channels to maintain competitive advantages in a challenging market [3] - The company is focused on continuous innovation and collaboration with external resources to enhance its growth potential [4] Earnings Forecast - The expected earnings per share (EPS) for 2025, 2026, and 2027 are projected to be 3.00 yuan, 3.25 yuan, and 3.52 yuan respectively [4] - The company maintains a "hold" rating based on its growth prospects and market position [4]

Investment Rating - The investment rating for the company is "Buy" and is maintained [5]. Core Views - The company achieved a revenue of 22.43 billion yuan in 2024, representing a year-on-year growth of 5.27%. The net profit attributable to shareholders was 2.24 billion yuan, up 2.97% year-on-year, while the net profit after deducting non-recurring items was 2.07 billion yuan, an increase of 3.52% year-on-year. In Q4 2024, the company reported a revenue of 5.92 billion yuan, a slight decline of 0.37% year-on-year, with a net profit of 0.81 billion yuan, down 0.73% year-on-year [2][9]. Summary by Sections Financial Performance - The company’s gross profit margin for 2024 was 24.65%, with a slight decline of 0.63 percentage points due to accounting policy changes. The net profit margin was 10.01%, down 0.22 percentage points year-on-year. The company maintained a high dividend payout ratio, proposing a cash dividend of 28.10 yuan per 10 shares, totaling 2.24 billion yuan, which corresponds to a dividend rate of 99.74% [2][9]. Sales and Market Position - The company’s domestic sales experienced a slight decline of 1.21% year-on-year, attributed to overall pressure on domestic demand. However, the company maintained a leading market share in both online and offline cooking utensils and kitchen appliances. In contrast, external sales grew significantly by 21.07% year-on-year, driven by increased orders from major external clients [9]. Future Outlook - The company is expected to continue its stable growth trajectory, with projected net profits of 2.40 billion yuan, 2.62 billion yuan, and 2.86 billion yuan for 2025, 2026, and 2027, respectively. The corresponding price-to-earnings (PE) ratios are estimated to be 18.53, 16.98, and 15.55 times [9].