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， ...

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 ...

| 投资者关系活动 | □特定对象调研 □分析师会议 | | --- | --- | | 类别 | □媒体采访 √业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称 | 苏泊尔 年度业绩说明会采用网络远程方式进行，面向 2024 | | 及人员姓名 | 全体投资者 | | | 谈"栏目 | | 上市公司接待 | 财务总监：徐波 | | | 独立董事：陈俊 | | | 是包括了所有的产品的。谢谢！ | | 投资者关系活动 | | | 主要内容介绍 | 2. | | | 国家和地区？销往美国的占外销产品销售额比例是多少？ | | | 答：您好！公司外贸业务中，销往美国的占比不高。谢谢！ | | | 3. 公司本期盈利水平如何 | | | 答：谢谢您的问题！如果您问题中的本期具体指的是 年 2025 | | | 一季度的话，敬请期待我们将于 4 月 25 日发布的一季度报 | | 时间 | 年 月 日 2025 4 8 15:00-17:00 | | 地点 | 深圳证券交易所"互动易平台"http://irm.cninfo.com.cn"云访 | | ...

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].

龙头经营稳健，提升创新能力。根据奥维云网数据，2024年公司内销在厨房小家电和炊具两大核心品类 均取得线上、线下市场占有率第一的位置。公司作为行业龙头，外销依托于SEB 集团股东优势，内销 依托于成熟的产品、渠道、品牌基础，在行业竞争激烈的情况下依然表现出较好的竞争优势和成长性。 盈利预测与投资建议。公司充分协同内外部创新资源，持续打造开放式创新平台，及时把握行业内外新 技术、新品类的发展动向，不断引入新工艺、新材料，更好助力公司业务增长。预计公司2025-2027 年 EPS 分别为3.00 元、3.25 元、3.52 元，维持"持有"评级。 风险提示：原材料价格反弹、海外需求不及预期、汇率波动等风险。 事件：公司发布2024年年报，2024年公司实现营收224.3亿元，同比增长5.3%；实现归母净利润22.4 亿 元，同比增长3%；实现扣非净利润20.6 亿元，同比增长3.5%。单季度来看，Q4 公司实现营收59.1 亿 元，同比下降0.4%；实现归母净利润8.1 亿元，同比下降0.7%；实现扣非后归母净利润6.6亿，同比持 平。 2024 年公司实现现金分红22.4 亿元，业绩分红率达到99.7%。 控 ...

丨证券研究报告丨 公司研究丨点评报告丨苏泊尔（002032.SZ） [Table_Title] 稳健增长，优质分红 报告要点 [Table_Summary] 2024 年全年公司实现营收 224.27 亿元，同比增长 5.27%，实现归母净利润 22.44 亿元，同比 增长 2.97%，实现扣非归母净利润 20.65 亿元，同比增长 3.52%。其中 2024 年四季度公司实 现营收 59.15 亿元，同比下滑 0.37%，实现归母净利润 8.12 亿元，同比下滑 0.73%，实现扣 非归母净利润 6.60 亿元，同比持平。同时公司拟向全体股东每 10 股派发现金红利 28.10 元 （含税），合计派发现金股利 22.39 亿元，对应分红率为 99.74%。 分析师及联系人 [Table_Author] 陈亮 SAC：S0490517070017 SFC：BUW408 请阅读最后评级说明和重要声明 %% %% 苏泊尔（002032.SZ） cjzqdt11111 [Table_Title2] 稳健增长，优质分红 [Table_Summary2] 事件描述 %% %% research.95579.com 1 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [5] Core Views - The company demonstrated strong operational resilience with a revenue growth of 5.3% year-on-year, reaching 22.43 billion, and a net profit increase of 3.0%, totaling 2.24 billion in 2024. Despite a challenging domestic small appliance market, the company maintained stable revenue and profit growth [1][3] - The company's export revenue saw a significant increase of 21.1% year-on-year, amounting to 7.50 billion, with the first half of the year growing by 39.3% and the second half by 8.9%. The main customer, SEB, also reported a growth of 6.3% in the same period [1][2] - Domestic sales faced slight pressure, with a 1.2% decline to 14.93 billion. However, certain product categories like food preparation appliances grew by 9.1% to 3.80 billion, indicating a diversified product portfolio [2][3] Summary by Sections Revenue and Profitability - In 2024, the company achieved a revenue of 22.43 billion, reflecting a 5.3% increase, while the net profit reached 2.24 billion, up by 3.0%. The fourth quarter saw a slight decline in revenue by 0.4% to 5.91 billion and a net profit decrease of 0.7% to 0.81 billion [1][4] - The gross margin for the company was 24.7%, a decrease of 0.6 percentage points year-on-year, with domestic and export gross margins at 27.7% and 18.6%, respectively [3] Dividend Policy - The company proposed a cash dividend of 28.1 yuan per 10 shares, corresponding to a dividend yield of 5.1% based on the closing price on March 27 [1] Future Outlook - The company expects stable growth in export revenue, projecting a net profit of 2.40 billion, 2.55 billion, and 2.69 billion for 2025, 2026, and 2027, respectively, with growth rates of 7%, 6%, and 6% [4][5]

Investment Rating - The report upgrades the investment rating to "Accumulate" from "Buy" [3][5] Core Views - The company achieved a revenue of 22.43 billion yuan in 2024, representing a year-on-year growth of 5.3%, with a net profit of 2.24 billion yuan, up 3.0% year-on-year [1][3] - The growth in revenue was primarily driven by strong export orders, while domestic demand showed signs of weakness in Q4 [1][2] - The company continues to focus on product innovation and maintains a high dividend payout strategy, proposing a dividend of 28.1 yuan per 10 shares, totaling 2.239 billion yuan, reflecting a payout ratio of 99.74% [2][3] Financial Performance - Domestic sales revenue decreased by 1.21% to 14.93 billion yuan due to intensified competition and consumer preference for cost-effectiveness, while export sales increased by 21.1% to 7.5 billion yuan, benefiting from SEB Group's order growth [2] - The company's gross margin for 2024 was 24.7%, a decrease of 0.6 percentage points, while the net margin was 10.0%, down 0.2 percentage points, indicating stable profitability [3] - The company forecasts revenue growth of 7.4%, 8.7%, and 9.6% for 2025, 2026, and 2027, respectively, with net profit growth of 8.3%, 4.2%, and 6.7% for the same years [3][4] Financial Summary - The financial summary indicates that the company expects revenues of 24.09 billion yuan in 2025, 26.18 billion yuan in 2026, and 28.70 billion yuan in 2027, with corresponding net profits of 2.43 billion yuan, 2.53 billion yuan, and 2.70 billion yuan [4][11] - The earnings per share are projected to be 2.82 yuan in 2024, increasing to 3.37 yuan by 2027 [11] - The company maintains a high return on equity, projected at 37.27% in 2025 and increasing to 41.82% by 2027 [4][11]