证券之星消息，7月31日厨卫电器板块较上一交易日下跌2.01%，帅丰电器领跌。当日上证指数报收于 3573.21，下跌1.18%。深证成指报收于11009.77，下跌1.73%。厨卫电器板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 002677 | 浙江美大 | > 259.23万 | 4.59% | 97.61万 | 1.73% | -356.84万 | -6.32% | | 002543 万和电气 | | -111.44万 | -2.09% | -128.83万 | -2.42% | 240.26万 | 4.51% | | 603551 | 奥普科技 | -164.48万 | -8.30% | 93.36万 | 4.71% | 71.11万 | 3.59% | | 603366 日出东方 | | -1235.45万 | -12.81% | 477.76万 | 4.95% | 757.70 ...

Core Viewpoint - The company, Vatti Corporation, announced the convening of its ninth board meeting and the first extraordinary shareholders' meeting in 2025 to review the proposal for applying for multiple business addresses and amending the company's articles of association [1] Group 1 - The company will hold its ninth board meeting on June 25, 2025, and the first extraordinary shareholders' meeting on July 15, 2025 [1] - The company has completed the business registration procedures for its operating location and obtained a new business license from the Market Supervision Administration of Zhongshan City [1]

华帝股份有限公司 章 程 （二零二五年七月） | 第一章 总 则 3 | | --- | | 第二章 经营宗旨和范围 4 | | 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 股东的一般规定 7 | | 第二节 控股股东和实际控制人 9 | | 第三节 股东会的一般规定 10 | | 第四节 股东会的召集 14 | | 第五节 股东会的提案与通知 15 | | 第六节 股东会的召开 17 | | 第七节 股东会的表决和决议 19 | | 第五章 董事和董事会 24 | | 第一节 董事的一般规定 24 | | 第二节 董事会 27 | | 第三节 独立董事 30 | | 第四节 董事会专门委员会 32 | | 第六章 高级管理人员 34 | | 第七章 财务会计制度、利润分配和审计 35 | | 第一节 财务会计制度 35 | | 第二节 利润分配 37 | | 第三节 内部审计 39 | | 第四节 会计师事务所的聘任 39 | | 第八章 通知和公告 40 | | 第一节 通知 40 | ...

证券代码：002035 证券简称：华帝股份 公告编号：2025-025 8、经营范围：生产、批发、零售：燃气具系列产品，太阳能及类似能源器具，家庭厨 房用品，家用电器、橱柜、烟雾净化器、净水器、卫浴及配件；家用电器的修理，自产产品 的售后服务；商业营业用房、办公用房、工业用房出租；企业自有资产投资、投资办实业， 企业投资管理咨询；家用电器及厨卫系列产品的技术研发、技术推广服务；经营货物和技术 进出口业务(法律、行政法规禁止经营的项目除外；法律、行政法规限制的项目须取得许可 后方可经营)。（依法须经批准的项目，经相关部门批准后方可开展经营活动） 二、《公司章程》备案情况 公司同步完成《公司章程》的备案手续，修订后的《公司章程》详见巨潮资讯网 1、名称：华帝股份有限公司 2、统一社会信用代码：91442000618120215D 3、类型：其他股份有限公司（上市） 4、法定代表人：潘叶江 5、注册资本：人民币捌亿肆仟柒佰陆拾伍万叁仟陆佰壹拾捌元 6、成立日期：1992年4月8日 7、住所：广东省中山市小榄镇工业大道南华园路1号(一照多址) 华帝股份有限公司 关于完成工商备案登记并换发营业执照的公告 本公司及董事会 ...

Core Viewpoint - The recent micro-variety show "Gongchu Shangshi" has gained popularity by reviving ancient imperial cuisine, showcasing the integration of Chinese culinary culture with modern cooking technology and aesthetics [1][4][7] Group 1: Show and Cultural Integration - "Gongchu Shangshi" features the recreation of imperial dishes from the Tang and Ming dynasties, emphasizing the historical and cultural narratives behind the food [1][4] - The show utilizes modern technology to enhance cooking efficiency, allowing traditional dishes like "Camel Hoof Soup" to be prepared in a fraction of the time compared to historical methods [4][11] Group 2: Brand Strategy and Market Positioning - Vatti, as a leading high-end kitchen appliance brand in China, aims to elevate the consumer experience by integrating cultural elements into its product offerings, moving beyond mere visual appeal [1][7] - The brand's strategy focuses on redefining the kitchen as a multi-functional space that provides emotional value, aligning with the preferences of younger consumers who seek lifestyle experiences rather than just products [9][11] Group 3: Market Trends and Consumer Insights - The kitchen appliance market is showing positive growth, with significant year-on-year increases in retail sales across various categories, driven by policies like "old for new" [9] - Young consumers are increasingly valuing the emotional and experiential aspects of kitchen appliances, prompting companies to shift from traditional competition based on specifications to creating value-driven products [9][11] Group 4: Innovation and Product Development - Vatti has adopted a "three good" product strategy focusing on usability, aesthetics, and cleanliness, supported by a robust patent portfolio aimed at creating a "clean kitchen" ecosystem [11] - The brand emphasizes technological innovation to enhance user experience, making cooking more enjoyable and efficient, thereby addressing common pain points in the kitchen [11]

Group 1 - The core viewpoint of the articles emphasizes the integration of traditional Chinese culture into modern product innovation, particularly in the kitchen appliance sector, as exemplified by Vatti's recent developments [1][3][11] - Vatti has expanded its cultural influence over the past decade, showcasing its products through high-profile events and collaborations that highlight traditional Chinese culinary elements [3][4] - The company has developed a series of innovative kitchen appliances, such as the "JZT-8S60" stove with advanced flame control technology, enhancing cooking efficiency and precision [4][5] Group 2 - Vatti's new product lines, including the "Xiaoweiguang" and "Xiaoshiguang" series, focus on health-conscious cooking methods, utilizing advanced steaming and baking technologies to retain nutrients [4][5] - The company has introduced over 517 cleaning technologies to create a "clean kitchen" concept, emphasizing hygiene and user experience in kitchen environments [5] - Vatti's marketing strategy includes the creation of a digital persona, "Yang Guifei," to engage younger consumers and promote its innovative products, such as the beauty bath water heater [7][11] Group 3 - The introduction of the beauty bath water heater marks a significant innovation in the high-end water heater market, addressing consumer demands for health and skincare [8][11] - Vatti's approach to product development reflects a broader trend in the industry, where traditional cultural elements are leveraged to create unique and appealing consumer products [13] - The company aims to resonate with consumers by embedding cultural symbols into its products, thereby enhancing brand value and consumer loyalty [13]

Group 1: Channel Development - The company focuses on balancing channel development while enhancing its presence in lower-tier markets, aiming to increase core store coverage and sales efficiency [1] - New retail stores are being established to improve the operational efficiency of stores and enhance brand recognition among store owners [1] Group 2: Product Innovation - The company emphasizes product technology innovation, launching new products that address consumer pain points and enhance kitchen experiences [1] - Recent product launches include various kitchen appliances aimed at meeting diverse consumer needs, such as the JWB19-B8 dishwasher and the GW6i gas water heater [1] Group 3: Digital Transformation - The company is advancing its digital transformation through projects like smart manufacturing and digital marketing, aiming to improve business efficiency and establish a category-driven operational mechanism [2] - Integration of NPS systems and a tiered management training mechanism are being implemented to enhance internal management and drive growth [2] Group 4: Category Operations - The company plans to expand its product lines while consolidating its advantages in traditional categories like range hoods and gas water heaters, aiming to increase market share [2] - A strategic management system is being developed to enhance category operations and improve collaboration across departments [2] Group 5: Shareholder Returns - The company has distributed a total of 2.193 billion CNY in cash dividends since its listing, demonstrating a commitment to shareholder returns [2] - Future dividend policies will be determined based on the company's development and various factors, ensuring continued shareholder engagement [2]

Investment Rating - The report gives an "Overweight" rating for the home appliance industry, indicating an expectation for the industry to outperform the overall market [3][12]. Core Insights - The "old-for-new" policy has significantly stimulated the home appliance market, with an expanded subsidy range leading to notable demand increases across various categories [3]. - In the first half of 2025, major kitchen appliance categories such as range hoods and gas stoves experienced double-digit growth, while dishwashers showed signs of recovery [3]. - The report highlights specific companies within the kitchen appliance sector, recommending Midea Group, Gree Electric, and Vatti Corporation due to their strong market positions [3]. Summary by Sections Old-for-New Policy Impact - The 2024 "old-for-new" policy has expanded to include eight categories, significantly boosting demand, with range hoods achieving retail sales of 36.2 billion yuan, a 14.9% year-on-year increase [3]. - The government plans to allocate 300 billion yuan in special bonds to support the "old-for-new" initiative, enhancing market activation [3]. Sales Performance - In H1 2025, range hoods sold 778,000 units, up 36% year-on-year, with sales revenue reaching 3.48 billion yuan, a 44% increase [3]. - Gas stoves saw sales of 768,000 units, a 25% increase, with revenue of 1.76 billion yuan, up 41% [3]. - Dishwashers, newly included in the subsidy list, showed a recovery with offline sales of 180,000 units, a 28% increase, and online sales of 602,000 units, a 9% increase [3]. Investment Recommendations - The report suggests focusing on companies with solid positions in traditional categories, specifically recommending Boss Electric, Vatti Corporation, and Wanhe Electric for their leading market shares in water heaters [3].

Core Viewpoint - The article highlights the evolution of water heaters in China, emphasizing the transition from basic functionality to advanced features that cater to consumer needs, particularly through the introduction of Vatti's "Beauty Bath" water heater, which represents a significant innovation in the industry [1][5][10]. Industry Evolution - The development of water heaters in China can be categorized into four distinct eras: - 1.0 Era: Introduction of the first Chinese water heater, focusing on basic hot water supply, with technology lagging behind [1]. - 2.0 Era: Emphasis on energy efficiency, with foreign brands dominating the market, leading to challenges for domestic companies in terms of product differentiation and profitability [2][4]. - 3.0 Era: Chinese brands began to invest in independent research and development, leading to technological advancements and improved product quality, with companies like Vatti pioneering innovations such as temperature control technology [4][5]. - 4.0 Era: The industry has shifted towards a focus on skincare and health, with Vatti's Beauty Bath water heater exemplifying this trend by integrating skincare benefits into the bathing experience [5][10]. Technological Innovation - Vatti's Beauty Bath water heater utilizes advanced technology to alter water molecular structure, enhancing skin absorption and providing skincare benefits, evidenced by significant improvements in skin hydration and elasticity after 28 days of use [7][9]. - The product features a health bathing water system with multiple protective measures, including corrosion resistance and self-cleaning capabilities, showcasing the brand's commitment to user health and safety [9][10]. Market Positioning - Vatti has positioned itself as a leader in high-end kitchen appliances, focusing on understanding the unique needs of Chinese consumers and driving innovation in the water heater market [5][12]. - The rise of domestic brands like Vatti reflects a broader trend in Chinese manufacturing, transitioning from mere production to intelligent manufacturing, emphasizing deep consumer insights and localized innovation [12].

Core Viewpoint - The article emphasizes the evolving perception of kitchens among young people, highlighting the shift from a purely functional space to a multi-dimensional area that combines aesthetics, comfort, and personal expression [1][3][10]. Group 1: Kitchen Design Trends - Young individuals, particularly "nomadic youth" aged 18-25, prefer kitchens that are visually appealing and atmospheric, such as "Japanese-style kitchens" with healing wood tones and "French vintage kitchens" that add a sense of ritual to dining experiences [1][5]. - The "nesting youth" aged 26-35 seek personalized kitchen spaces that reflect their individuality, often desiring features like a home bar for social gatherings [1][5]. Group 2: Product Innovation and Features - Vatti, a leading high-end kitchen appliance brand in China, focuses on detail and aims to meet the fashion aesthetics and personalized needs of contemporary young consumers, transforming kitchens into spaces for showcasing, healing, and enjoyment [3][10]. - The automatic water-washing range hood from Vatti has achieved the highest market share in 2024, featuring technologies like "surfing steam washing" and "one-button self-cleaning" to enhance cleanliness and reduce bacteria and odor [3][5]. - Vatti's AI air management system can accurately detect PM2.5 levels in the kitchen and adjust air quality accordingly, ensuring a clean environment even during intense cooking [3][5]. Group 3: Lifestyle Integration - Over 70% of young people expect kitchen appliances to provide not just utility but also a sense of pleasure, aligning with Vatti's design philosophy that promotes kitchens as spaces for stress relief and lifestyle rhythm [5][10]. - Vatti's new products, such as the JZT-8S60 stove and FA50P steam oven, are designed to enhance cooking efficiency while maintaining high standards of quality and user experience [6][10]. Group 4: Aesthetic and Functional Balance - Vatti believes that kitchens should be therapeutic spaces, integrating aesthetic design with practical layout to create a harmonious environment [8][10]. - The new ultra-thin range hood from Vatti exemplifies the blend of aesthetics and space utilization, seamlessly integrating with cabinetry to create a clean and spacious feel [8][10].