Market Overview - On August 1, the small home appliance sector experienced a slight decline of 0.03% compared to the previous trading day, with BeiYikang leading the drop [1] - The Shanghai Composite Index closed at 3559.95, down 0.37%, while the Shenzhen Component Index closed at 10991.32, down 0.17% [1] Stock Performance - The following stocks in the small home appliance sector showed notable performance: - Liren Technology (001259) closed at 26.78, up 2.41% with a trading volume of 13,100 and a turnover of 34.74 million [1] - Delmar (301332) closed at 11.02, up 2.23% with a trading volume of 70,300 and a turnover of 77.14 million [1] - Other stocks like BeiQingSong (688793) and KaiNeng Health (300272) also saw increases of 2.02% and 2.01% respectively [1] Capital Flow - The small home appliance sector saw a net outflow of 71.78 million from institutional investors, while retail investors contributed a net inflow of 70.39 million [2] - Specific stocks experienced varied capital flows: - KaiNeng Health (300272) had a net inflow of 14.57 million from institutional investors, but a net outflow of 11.92 million from speculative funds [2] - Feike Electric (603868) saw a net inflow of 8.88 million from institutional investors, but also faced a net outflow from retail investors [2]

Group 1 - The small home appliance sector increased by 0.35% on July 30, with Rainbow Group leading the gains [1] - The Shanghai Composite Index closed at 3615.72, up 0.17%, while the Shenzhen Component Index closed at 11203.03, down 0.77% [1] - Key stocks in the small home appliance sector showed varied performance, with Rainbow Group rising by 5.74% to a closing price of 28.17 [1] Group 2 - On the same day, the small home appliance sector experienced a net outflow of 72.98 million yuan from institutional investors, while retail investors saw a net inflow of 90.09 million yuan [2] - Notable net inflows from retail investors were observed in stocks like Covos and Rainbow Group, despite overall institutional outflows [2] - The data indicates a mixed sentiment among different investor types, with retail investors showing interest in certain stocks while institutional investors withdrew funds [2]

Group 1: Paper Industry - The Guangdong Paper Industry Association has issued the first "anti-involution" initiative in the domestic paper industry, aiming to promote high-quality development [1] - The initiative emphasizes resisting low-price disorderly competition and maintaining market fairness, while also discouraging below-cost dumping practices [1] - Companies are encouraged to adopt transparent pricing based on real costs, reasonable profits, service standards, and market supply-demand relationships, which may improve the competitive ecosystem and overall profitability in the long term [1] Group 2: Film Industry - The film "Nanjing Photo Studio," co-produced by Happiness Blue Ocean, has achieved a cumulative box office of over 412 million yuan, exceeding 50% of the company's audited consolidated revenue for the most recent fiscal year [2] - As of July 27, the film has not yet impacted the company's operating income, but continued box office success could positively influence the stock price [2] - Investors should remain cautious regarding the potential risks of performance realization if the box office does not translate into actual revenue [2] Group 3: Home Appliance Industry - Joyoung Co., Ltd. has completed the cancellation of 4 million shares, which represents 0.52% of the total share capital before the cancellation [3] - The actual amount for the share buyback and cancellation was approximately 68.03 million yuan, excluding transaction fees [3] - This move signals an effort to boost shareholder confidence, although the impact on the company's fundamentals remains to be observed amid intense competition in the small home appliance sector [3] Group 4: Beverage Industry - Chengde Lululemon announced the resignation of General Manager Liang Qichao due to personal reasons, while he will continue to serve as Vice Chairman and Executive Director [4] - Ding Xingxian has been appointed as the new General Manager following a board meeting [4] - While such management changes are normal, the new General Manager's ability to maintain or enhance performance in a competitive plant-based beverage market will be crucial for the company's future [4]

关于部分回购股份注销完成暨股份变动公告 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、九阳股份有限公司（以下简称"公司"）本次注销的部分回购股份数量 为 400 万股，占公司部分回购股份注销前总股本的 0.52%，实际回购注销金额为 68,026,879.84 元（不含交易费用）。本次注销完成后，公司总股本将由 767,017,000 股变更为 763,017,000 股。 2、经中国证券登记结算有限责任公司深圳分公司（以下简称"中国结算"） 审核确认，公司本次部分回购股份注销事宜已于 2025 年 7 月 25 日办理完成。 现就公司部分回购股份注销完成暨股份变动情况披露如下： 证券代码：002242 证券简称：九阳股份 公告编号：2025-028 九阳股份有限公司 2、变更部分回购股份用途 公司于2025年6月23日召开第六届董事会第十五次会议，以6票同意、0票反对、 0票弃权审议通过《关于变更部分回购股份用途并注销的议案》，拟将存放于回 购专用证券账户中原计划"用于实施股权激励计划或员工持股计划"的400万股 之用途变更为"用于注销以减 ...

Core Viewpoint - The company, Jiuyang Co., Ltd. (002242), has announced the cancellation of 4 million repurchased shares, which represents 0.52% of the total share capital before the cancellation [1] Summary by Relevant Sections - **Share Repurchase Details** - The actual amount for the repurchase cancellation is 68.03 million yuan, excluding transaction fees [1] - Following the cancellation, the total share capital will decrease from 767 million shares to 763 million shares [1] - **Completion of Procedures** - The cancellation procedures for the 4 million repurchased shares were completed on July 25, 2025, at China Securities Depository and Clearing Corporation [1]

Core Viewpoint - The kitchen small appliance market, particularly the wall-breaking machine segment, is facing significant challenges, with retail sales expected to decline from 10.3 billion yuan in 2020 to 5.56 billion yuan in 2024, primarily due to market saturation and increased competition from specialized alternatives [1][12]. Group 1: Industry Overview - The wall-breaking machine is a food processing device that utilizes high-speed rotating blades to break down plant cell walls, enhancing nutrient absorption [4]. - The market for wall-breaking machines is categorized into three main types: traditional, steam, and silent wall-breaking machines, each catering to different consumer needs and price points [4]. - The average online price of wall-breaking machines decreased from 341 yuan in the first half of 2023 to 307 yuan in the first half of 2024, driven by declining market demand and competitive pricing strategies [14]. Group 2: Market Dynamics - The retail sales of wall-breaking machines are projected to decline significantly, with a drop from 10.3 billion yuan in 2020 to 5.56 billion yuan in 2024, reflecting a saturated market and reduced new purchase demand [1][12]. - Despite the overall decline, there was a slight increase of 2.2% in retail sales in the first quarter of 2025, attributed to government subsidies for appliance replacements [1][12]. - The increase in disposable income and consumer spending in China, from 32,189 yuan in 2020 to 41,314 yuan in 2024, is expected to enhance the demand for high-quality kitchen appliances like wall-breaking machines [6]. Group 3: Competitive Landscape - The wall-breaking machine industry is experiencing intense competition, with leading brands like Joyoung facing market share declines due to the rise of competitors such as Midea and Supor [16][17]. - New brands are entering the market, focusing on high cost-performance ratios and innovative designs to attract consumers, further intensifying competition [16][17]. - The industry is witnessing a shift towards more diverse marketing strategies, leveraging online platforms and influencer marketing to enhance brand visibility and sales [22][23]. Group 4: Future Trends - The future of the wall-breaking machine industry is expected to be driven by technological innovations, focusing on smart features, multifunctionality, and noise reduction to improve user experience [21]. - Companies are increasingly adopting diverse marketing strategies, including collaborations with influencers and leveraging social media platforms to reach younger consumers [22][23]. - There is a noticeable trend towards international expansion, with Chinese manufacturers looking to tap into overseas markets to mitigate domestic competition [24].

Core Viewpoint - The company has decided to change the purpose of 4,000,000 shares originally intended for employee stock incentive plans to be used for capital reduction through cancellation, resulting in a decrease in total shares from 767,017,000 to 763,017,000 [1] Group 1: Share Repurchase and Capital Reduction - The company held its 15th meeting of the 6th Board of Directors on June 23, 2025, and the first extraordinary general meeting of shareholders on July 11, 2025, where the proposal to change the purpose of repurchased shares was approved [1] - The registered capital will be reduced as a result of the cancellation of the repurchased shares [1] Group 2: Notification to Creditors - The company is required to notify creditors about the capital reduction, allowing them 30 days from receipt of the notice, or 45 days from the announcement date if no notice is received, to request debt repayment or guarantees [1] - Creditors must submit written requests along with relevant documentation to the company to claim their debts [2] Group 3: Documentation for Debt Claims - Creditors must provide original and photocopies of contracts or agreements proving the existence of the debt relationship when submitting claims [2] - For corporate creditors, additional documents such as the business license and identification of the legal representative are required [2] - Natural persons must also provide valid identification and may need to submit authorization documents if claims are made by representatives [2] Group 4: Claim Submission Methods - Creditors can submit claims in person, by mail, or via email, with specific instructions for each method outlined [2] - The date of claim submission is determined by the postmark for mail submissions and the date received by the company's system for email submissions [2]

证券代码：002242 证券简称：九阳股份 公告编号：2025-027 九阳股份有限公司 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： 关于注销部分回购股份减少注册资本暨通知债权人的公告 九阳股份有限公司（以下简称"公司"）于 2025 年 6 月 23 日召开第六届董 事会第十五次会议，于 2025 年 7 月 11 日召开 2025 年第一次临时股东大会，分别 审议通过《关于变更回购股份用途并注销的议案》，同意公司将存放于回购专用 证券账户中原计划"用于实施股权激励计划或员工持股计划"的 4,000,000 股的股 份之用途变更为"用于注销以减少注册资本"。本次注销部分回购股份完成后， 公司总股本将由 767,017,000 股减少至 763,017,000 股，公司注册资本将由 767,017,000 元减少至 763,017,000 元。具体内容详见 2025 年 6 月 24 日公司在巨潮 资讯网（http://www.cninfo.com.cn）及《证券时报》《中国证券报》披露的《关于变 更部分回购股份用途并注销的公告》（公告编号：2 ...

国浩律师（上海）事务所 关于 法律意见书 上海市静安区山西北路 99 号苏河湾中心 25-28 楼。邮编：200085 电话: (8621) 5234-1668 传真: (8621) 5243-3320 网址：http://www.grandall.com.cn 九阳股份有限公司 2025 年第一次临时股东大会的 国浩律师（上海）事务所 股东大会法律意见书 国浩律师（上海）事务所 关于九阳股份有限公司 2025 年第一次临时股东大会的法律意见书 致：九阳股份有限公司 九阳股份有限公司（以下简称"公司"）2025 年第一次临时股东大会（以下 简称"本次股东大会"）现场会议于 2025 年 7 月 11 日（星期五）下午 15:00 在 杭州市钱塘区下沙街道银海街 760 号杭州公司会议室召开。国浩律师（上海）事 务所（以下简称"本所"）接受公司的委托，指派李晗律师、潘雨晨律师（以下 简称"本所律师"）出席会议并见证。现依据《中华人民共和国公司法》《中华人 民共和国证券法》和《九阳股份有限公司章程》（以下简称"《公司章程》"）出具 本法律意见书。 本所律师按照有关法律、法规及规范性文件的规定对本次股东大会的召集、 ...

证券代码：002242 证券简称：九阳股份 公告编号：2025-026 九阳股份有限公司 关于 2025 年第一次临时股东大会决议公告 1、股东大会届次：2025 年第一次临时股东大会 2、会议召集人：九阳股份有限公司（以下简称"公司"）董事会 3、会议召开时间： 1）现场会议时间：2025 年 7 月 11 日（星期五）下午 15:00 2）网络投票时间：2025 年 7 月 11 日 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 7 月 11 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 投票的时间为 2025 年 7 月 11 日 9:15－15:00 期间的任意时间。 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 特别提示： 1、本次股东大会无增加、修改、否决议案的情况； 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、会议召开情况 4、现场会议地点：杭州市钱塘区下沙街道银海街 760 号杭州公司会议室。 5、股权登记日：2025 年 7 月 4 日（星期五 ...