九阳股份有限公司 JOYOUNG COMPANY LIMITED 章 程 | 第一章 | 总则 2 | | --- | --- | | 第二章 | 经营宗旨和范围 3 | | 第三章 | 股份 3 | | 第一节 | 股份发行 3 | | 第二节 | 股份增减和回购 4 | | 第三节 | 股份转让 5 | | 第四章 | 股东和股东大会 6 | | 第一节 | 股东 6 | | 第二节 | 股东大会的一般规定 10 | | 第三节 | 股东大会的召集 12 | | 第四节 | 股东大会的提案与通知 13 | | 第五节 | 股东大会的召开 15 | | 第六节 | 股东大会的表决和决议 18 | | 第五章 | 董事会 22 | | 第一节 | 董事 22 | | 第二节 | 董事会 24 | | 第六章 | 总经理及其他高级管理人员 29 | | 第七章 | 监事会 31 | | 第一节 | 监事 31 | | 第二节 | 监事会 32 | | 第八章 | 财务会计制度、利润分配和审计 33 | | 第一节 | 财务会计制度 33 | | 第二节 | 内部审计 36 | | 第三节 | 会计师事务所的聘任 ...

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 票弃权审议通过了《关于变更回购股份用途并注销的议案》，同意将存 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"。该部分股份注销 完成后，公司总股本将由 76,701.70 万股减少至 76,301.70 万股，公司注册资本将 由 76,701.70 万元减少至 76,301.70 万元。 二、公司经营范围调整情况 根据公司业务情况，公司拟将经营范围调整为：一般项目：家用电器研发； 家用电器制造；家用电器销售；厨具卫具及日用杂品研发；家居用品制造；家居 用品销售；家用电器零配件销售；日用家电零售；日用电器修理；技术服务、技 术开发、技术咨询、技术交流、技术转让、技术推广；互联网销售（除销售需要 许可的商品）；非电力家用器具制造；非电力家用器具销售；非居住房地产租赁； 物业管理；劳务服务（不含劳务派遣）；广告设计、代理；平面设计；社会经济 咨询服务；信息咨询服务（不含许可类信息咨询服务）；母婴用品制造；母婴用 品销售（除依法须 ...

证券代码：002242 证券简称：九阳股份 公告编号：2025-024 九阳股份有限公司 关于召开公司2025年第一次临时股东大会的通知 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。 根据九阳股份有限公司（以下简称"公司"）第六届董事会第十五次会议决 议，公司决定于 2025 年 7 月 11 日召开公司 2025 年第一次临时股东大会，现将会 议的有关事项通知如下： 一、 召开会议的基本情况 1、股东大会届次：2025 年第一次临时股东大会 2、会议召集人：公司董事会。公司第六届董事会第十五次会议审议通过了 《关于召开公司 2025 年第一次临时股东大会的议案》。 3、会议召开的合法、合规性：公司董事会认为本次股东大会会议召开符合 有关法律、行政法规、部门规章、规范性文件和《公司章程》的规定。 6、股权登记日：2025年7月4日（星期五） 7、会议召开方式：本次股东大会采用现场表决、网络投票相结合的方式召 开。公司将通过深交所交易系统和互联网投票系统(http://wltp.cninfo.com.cn)向股东 提供网络形式的投票平台，股东可以通过上述系统行 ...

证券代码：002242 证券简称：九阳股份 公告编号：2025-021 九阳股份有限公司 第六届董事会第十五次会议决议公告 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。 一、董事会会议召开情况 九阳股份有限公司（以下简称：公司）于 2025 年 6 月 18 日以书面的方式发 出关于召开公司第六届董事会第十五次会议的通知，会议于 2025 年 6 月 23 日以 通讯表决的方式召开。本次会议应参与表决董事 6 名，实际参与表决董事 6 名。 会议由董事长杨宁宁女士主持。本次会议的召集、召开与表决程序符合《公司法》 和《公司章程》等的有关规定，合法有效。 董事会就以下议案进行了审议，经书面表决，通过决议如下： 二、董事会会议审议情况 1、 审议通过《关于变更回购股份用途并注销的议案》 表决结果：6 票同意，0 票反对，0 票弃权。 该议案需提交至公司 2025 年第一次临时股东大会审议，该议案属于特别决 议事项，须经出席会议的股东所持有效表决权股份总数的三分之二以上通过。 为维护公司价值和股东权益，优化公司资本结构，结合公司实际发展情况， 公司董事会同意将存放 ...

Core Insights - The resignation of the general manager, Guo Lang, is perceived as a response to the company's deteriorating performance, despite the official statement citing "personal reasons" [1][2] - Nine Yang Co., Ltd. has experienced a significant decline in both revenue and net profit since 2021, with revenue dropping from 112.24 billion yuan in 2020 to an estimated 88.49 billion yuan in 2024, and net profit plummeting nearly 90% from 9.4 billion yuan to 1.22 billion yuan [2] Financial Performance - Revenue from the food processing machine series, primarily represented by soybean milk machines, decreased from 4.744 billion yuan in 2020 to 2.94 billion yuan in 2023 [1] - The only product line showing growth, the Western-style electrical appliances series, had a modest growth rate of 2.6% by 2023 [1] - Sales expenses surged to 1.506 billion yuan in 2024, reflecting a year-on-year increase of 13.43%, while the sales expense ratio rose to 17.02% [2] - Research and development (R&D) investment fell to 361 million yuan, a decrease of 7.19% year-on-year, leading to a reduced R&D expense ratio of 4.08% [2] Management Changes - Guo Lang's tenure as general manager lasted less than three years, during which the company's performance did not improve and instead worsened [1] - His resignation marks a new phase in the company's management structure, but merely changing leadership may not be sufficient to reverse the ongoing decline in performance [2]

Core Viewpoints - The home appliance industry is expected to outperform the market, driven by strong retail demand and favorable policies such as the old-for-new replacement program [6][14][18] - The online retail performance of major home appliance categories has accelerated since May, with air conditioners, refrigerators, and washing machines showing significant year-on-year growth [2][19] - The production of white goods in June saw a year-on-year increase of 7.3%, with air conditioner domestic sales experiencing a notable growth of 29.3% [3][37] Market Performance - The online retail sales of air conditioners, refrigerators, and washing machines increased by 25.4%, -3.5%, and 9.4% respectively in the first 21 weeks of 2025 compared to the same period in 2024 [2][19] - Offline retail sales maintained a growth rate of over 10%, indicating robust market demand [2][19] - The home appliance sector achieved a relative return of +1.65% in May, outperforming the Shanghai Composite Index [46] Production and Sales Data - In June, the total production of white goods reached 35.15 million units, with air conditioner production increasing by 11.5% year-on-year [3][37] - The production of air conditioners for domestic sales was 20.5 million units, reflecting a growth of 29.3% compared to the previous year [3][37] - The production of refrigerators and washing machines showed stable performance, with year-on-year growth of 3.6% and flat production respectively [3][37] Company Recommendations - Key companies recommended for investment include Midea Group, Gree Electric Appliances, Haier Smart Home, TCL Technology, and Hisense Home Appliances, all rated as outperforming the market [5][14][64] - In the small appliance sector, Stone Technology and Bear Electric are highlighted for their strong overseas growth and product expansion [14][17] - The kitchen appliance sector recommends Boss Electric, which is expected to maintain stable growth due to its strong market position [14][17]

Core Insights - The Chinese small home appliance market is undergoing significant changes driven by consumption upgrades and the wave of smart technology [1][3] - The market size surpassed 450 billion yuan in 2024, but growth has sharply declined from 25% in 2020 to 6.2% [3] - The competitive landscape is shifting, with new entrants like Xiaomi and Roborock challenging established players like Joyoung, Midea, and Supor [1][3] Company Performance - Joyoung's revenue growth has been below 5% for three consecutive years, with a 12% decline in net profit in 2024 [1][3] - Joyoung's market share in its core product, the soybean milk machine, has dropped from 24% to 19%, overtaken by Midea [3][4] - The company announced a strategic shift towards "All in health technology," investing 3 billion yuan in smart kitchen appliance R&D [3][4] Market Dynamics - The concentration of market share among top brands has increased, with Midea, Supor, and Joyoung's combined market share rising from 68% in 2019 to 76% in 2024 [3] - Joyoung's diversification strategy has not yielded significant results, with only the air fryer achieving a 15% market share, while other categories failed to break into the top five [4][5] - The competitive landscape has evolved from a focus on functionality to emotional connections with consumers, with younger generations prioritizing aesthetics and lifestyle over basic functionality [10][11] Strategic Challenges - Joyoung's reliance on a single product category has become a liability, as its market share in soybean milk machines has declined due to stagnant technological innovation [4][5] - The company's R&D spending is low at 3.1%, significantly less than competitors like Bear Electric [9] - Joyoung's marketing strategies have not aligned with current consumer trends, leading to a disconnect with younger consumers who favor innovative and aesthetically pleasing products [10][11] Future Outlook - Joyoung faces a critical juncture, with its traditional business model under threat from emerging competitors that prioritize innovation and consumer engagement [12][13] - The company must adapt to changing market dynamics or risk being left behind as consumer preferences evolve [12][13]

Core Viewpoint - The first Campus Food Education Exchange Conference, organized by the Joyoung Public Welfare Foundation, highlights the urgent need for food education in addressing the nutritional challenges faced by Chinese children [1][3]. Group 1: Event Overview - The conference took place in Pinghu City, Zhejiang Province, with support from local educational and health authorities, and involved over 40 educators from eight provinces [1]. - The event focused on the current nutritional status of children in China and discussed the challenges and innovations in food education within contemporary educational reforms [1][3]. Group 2: Nutritional Challenges - Xu Jiao, Deputy Director of the National Food Safety Risk Assessment Center, pointed out the rising rates of overweight and obesity among Chinese youth, indicating a concerning trend of chronic diseases becoming more prevalent at younger ages [3]. - The root causes of these issues include an imbalance in children's food intake and a lack of health awareness within families and society [3]. Group 3: Local Initiatives - The Pinghu Education Bureau has been promoting a student nutrition meal plan since 1990, and in 2017, it developed a local curriculum on nutrition and food education [3]. - The Joyoung Public Welfare Foundation has been addressing rural children's nutrition issues since 2010, establishing the Hope Fund and the Joyoung Public Kitchen project to enhance meal provision in schools [3][4]. Group 4: Food Education Innovations - The foundation launched the "Food Education Workshop" in 2014 to promote food education through practical cooking experiences, aiming to instill healthy eating habits and traditional dietary culture [4][5]. - The foundation is committed to continuous innovation in the design of educational spaces, curriculum development, and teacher training to enhance food education [5]. Group 5: Educational Impact - Schools are integrating food education into their curricula, with examples such as Zhengzhou Yucai Primary School designing courses that connect students with nature and teach them about nutrition and ecological conservation [5][6]. - The conference included discussions on the broader implications of food education, emphasizing its role in fostering emotional connections and appreciation for beauty beyond mere sustenance [6]. Group 6: Future Directions - The Joyoung Public Welfare Foundation aims to optimize the Food Education Workshop project and strengthen collaborations with educational departments to explore innovative teaching methods [6].

记者查询看到，九阳股份2023年4月1日发布的第一期员工持股计划(2023年3月修订稿)显示，本次员工 持股计划经公司股东大会审议通过后，拟通过非交易过户等法律法规允许的方式受让公司回购的股票， 购买价格为1元/股。 中国经济网北京5月21日讯(记者何潇)新浪证券5月19日发布了文章《九阳股份（002242）"伪市值管 理"疑云：5名高管以1元"骨折价"分走员工持股计划四成份额》。该文章称，2021年4月，九阳股份发布 《2021年股票期权激励计划》，以2021-2023年的营业收入及净利润增长率为业绩考核指标。财务数据 显示，2021-2023年，九阳股份的业绩逐年下滑，营业收入从105.4亿元降至96.13亿元，净利润从7.01亿 元降至3.91亿元，3年业绩考核目标均未达成。 股权激励走不通后，九阳股份转道员工持股计划，后者无公司业绩考核要求。2022年9月，公司累计回 购1200万股股份，成交金额为20408.06万元，平均成交价格约17元/股。根据最新修订稿，员工持股计 划的受让价格仅为1元/股，较回购价格"打骨折"。同时，公司5名高管分走四成份额，遭投资者质疑向 管理层输送利益。 | 序号 | 持 ...

Core Viewpoint - The successful launch of the Shenzhou-20 manned spacecraft highlights the integration of traditional Chinese food culture, specifically soy milk, into space missions, showcasing the innovation of the national brand Joyoung in developing space-grade soy milk for astronauts [1][3]. Group 1: Soy Milk's Popularity and Nutritional Value - Soy milk has become the most popular breakfast beverage in China, surpassing congee and milk, with a market share of 39.1% in 2019 [1]. - The nutritional value of soy milk is well-recognized, and it has been a staple in Chinese diets for over 2,000 years, making it a suitable choice for astronauts who require a balanced diet in space [3]. Group 2: Development of Space Soy Milk - Joyoung's space soy milk underwent a rigorous development process, passing through 15 production processes and over 24 quality checks to meet the stringent requirements for food safety and nutritional standards [5]. - The protein content of the space soy milk is reported to be 5.0, setting a new benchmark for the soy milk category [5]. Group 3: Technological Innovations by Joyoung - Joyoung has made significant advancements in soy milk machine technology over 31 years, including 25 iterations and the launch of over 500 products, enhancing the quality and convenience of soy milk preparation [7][8]. - The introduction of the K7 Pro soy milk machine features an AI-driven self-cleaning function and advanced cooking techniques, making it user-friendly and efficient [10][11]. Group 4: Future Aspirations - The narrative suggests a vision where traditional flavors, like soy milk, will continue to be enjoyed by future generations, even in extraterrestrial settings, emphasizing the importance of cultural heritage and innovation [11].