证券代码：002543 证券简称：万和电气 公告编号：2026-005 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。 广东万和新电气股份有限公司（以下简称"公司"或"万和电气"）于 2026 年 3 月 30 日召开董事会六届七次会议，审议通过了《关于终止实施 2025 年员工 持股计划的议案》。根据公司 2025 年第三次临时股东会的授权，经董事会审慎 研究，并依据《关于上市公司实施员工持股计划试点的指导意见》等相关规定， 遵循员工自愿参与原则，公司充分尊重员工的自主决定，现决定终止实施 2025 年员工持股计划（以下简称"本次员工持股计划"），与之配套的《2025 年员工 持股计划管理办法》等相关文件同步终止。现将相关情况公告如下： 一、本次员工持股计划的基本情况 1.公司于 2025 年 9 月 26 日召开董事会六届三次会议，审议通过了《关于〈广 东万和新电气股份有限公司 2025 年员工持股计划（草案）〉及其摘要的议案》 《关于〈广东万和新电气股份有限公司 2025 年员工持股计划管理办法〉的议案》 和《关于提请股东会授权董事会办理 2025 年员 ...

证券代码：002543 证券简称：万和电气 公告编号：2026-007 广东万和新电气股份有限公司 2025 年员工持股计划第二次持有人会议决议公告 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、会议召开情况 经结合公司未来发展战略规划综合评估，为更好地维护公司、股东及员工利 益，根据《关于上市公司实施员工持股计划试点的指导意见》《深圳证券交易所 上市公司自律监管指引第 1 号——主板上市公司规范运作》等法律法规、规范性 文件及《2025 年员工持股计划管理办法》等相关规定，同意终止实施 2025 年员 工持股计划，与之配套的《2025 年员工持股计划管理办法》等相关文件同步终止。 表决结果：同意 1,540,000 份，占出席持有人会议的持有人所持份额总数的 100%；反对 0 份；弃权 0 份。 特此公告。 广东万和新电气股份有限公司董事会 2026 年 3 月 31 日 广东万和新电气股份有限公司（以下简称"公司"或"万和电气"）2025 年员工持股计划第二次持有人会议于 2026 年 3 月 30 日上午在公司会议室以现场 表决与通讯表决相结合的 ...

证券代码：002543 证券简称：万和电气 公告编号：2026-006 广东万和新电气股份有限公司 关于增加泰国子公司注册资本的公告 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。 一、对外投资及其进展情况概述 1.广东万和新电气股份有限公司（以下简称"公司"或"万和电气"）于 2022 年 12 月 29 日召开董事会五届八次会议，审议通过了《关于在泰国投资新建生产 基地的议案》。为满足业务发展需求，进一步优化海外生产基地布局，公司在对 海外低成本地区充分调研评估的基础上，决议在泰国投资新建生产基地，投资金 额不超过人民币 2.53 亿元，包括但不限于购买土地、购建固定资产等相关事项， 实际投资金额以中国及当地主管部门批准金额为准，公司将根据市场需求和业务 进展等具体情况分阶段实施泰国生产基地建设。为确保公司在泰国投资新建生产 基地能够顺利实施，公司董事会授权副总裁杨颂文先生全权办理本次设立泰国子 公司、泰国生产基地建设及海外结构搭建有关的全部事宜。具体内容详见公司于 2022 年 12 月 30 日在信息披露媒体《证券日报》《证券时报》《中国证券报》《上 ...

证券代码：002543 证券简称：万和电气 公告编号：2026-004 广东万和新电气股份有限公司 关于聘任公司副总裁的公告 截至本公告披露日，卢斯毅女士未持有公司股票，与卢础其先生、卢楚隆先 生、卢楚鹏先生、YU CONG LOUIE LU 先生、杨颂文先生、卢宇凡先生系亲属关系， 除上述关系外，其与公司其他董事、高级管理人员不存在关联关系。卢斯毅女士 不存在以下情形：（1）根据《中华人民共和国公司法》等法律法规及其他有关 规定不得担任董事、高级管理人员的情形；（2）被中国证监会采取不得担任上 市公司董事、高级管理人员的市场禁入措施，期限尚未届满；（3）被证券交易 场所公开认定为不适合担任上市公司董事、高级管理人员，期限尚未届满；（4） 最近三十六个月内受到中国证监会行政处罚；（5）最近三十六个月内受到证券 交易所公开谴责或者三次以上通报批评；（6）因涉嫌犯罪被司法机关立案侦查 或者涉嫌违法违规被中国证监会立案调查，尚未有明确结论意见；（7）被中国 证监会在证券期货市场违法失信信息公开查询平台公示或者被人民法院纳入失 信被执行人名单。 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 ...

证券代码：002543 证券简称：万和电气 公告编号：2026-003 广东万和新电气股份有限公司 董事会六届七次会议决议公告 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、会议召开情况 广东万和新电气股份有限公司（以下简称"公司"或"万和电气"）董事会 六届七次会议于 2026 年 3 月 30 日上午在公司会议室以现场表决与通讯表决相结 合的方式召开。公司已于 2026 年 3 月 20 日以书面及电子邮件方式向全体董事发 出通知。本次会议应出席董事 9 人，实际出席董事 9 人，由董事长 YU CONG LOUIE LU 先生主持，公司全体高级管理人员列席了会议。本次会议的召集、召开程序 符合《中华人民共和国公司法》等相关法律、行政法规、部门规章、规范性文件 以及《公司章程》《董事会议事规则》的规定，会议决议合法有效。 二、会议审议情况 经与会董事认真审议，以现场表决与通讯表决相结合的方式表决了本次会议 的全部议案，通过了如下决议： 1.会议以赞成9票、反对0票、弃权0票审议通过了《关于聘任公司副总裁的 议案》； 为满足公司经营发展需要，经董事会提 ...

Core Viewpoint - Wanhe Electric's stock price has experienced a decline of 8.91% year-to-date, with significant drops over various trading periods, indicating potential challenges in the market [1]. Group 1: Stock Performance - As of February 24, Wanhe Electric's stock rose by 2.09%, reaching 9.30 yuan per share, with a trading volume of 19.77 million yuan and a turnover rate of 0.32% [1]. - The company has seen a net inflow of main funds amounting to 308,000 yuan, with large purchases totaling 1.96 million yuan, accounting for 9.90% of the total, while sales reached 1.65 million yuan, making up 8.34% [1]. - The stock has declined by 1.27% over the last five trading days, 9.97% over the last 20 days, and 15.30% over the last 60 days [1]. Group 2: Company Overview - Wanhe Electric, established on December 29, 2003, and listed on January 28, 2011, is located in Shunde, Guangdong Province, and specializes in the research, production, and sales of kitchen and bathroom appliances [1]. - The company's main revenue sources are kitchen appliances (50.15%), water heating products (43.90%), and other services (6.95%) [1]. Group 3: Financial Performance - For the period from January to September 2025, Wanhe Electric reported a revenue of 5.524 billion yuan, reflecting a year-on-year growth of 5.54%, and a net profit attributable to shareholders of 479 million yuan, also up by 5.57% [2]. - Since its A-share listing, the company has distributed a total of 3.205 billion yuan in dividends, with 932 million yuan distributed over the past three years [3]. Group 4: Shareholder Information - As of September 30, 2025, the number of shareholders for Wanhe Electric increased by 20.40% to 18,900, while the average number of circulating shares per person decreased by 16.95% to 34,968 shares [2]. - Among the top ten circulating shareholders, Hongli Low Volatility (512890) is the fourth largest, holding 31.51 million shares, an increase of 2.34 million shares from the previous period [3].

Group 1 - The current home appliance market is experiencing a surge in demand due to the Spring Festival and favorable national subsidy policies, with companies in Shunde ramping up production to meet both domestic and international market needs [2][3][4] - Sales at JD's self-operated flagship store in Shunde have exceeded 10 million yuan since the New Year, with expectations of reaching 6 to 7 million yuan during the Spring Festival period, driven by consumer interest in practical home appliances [2][4] - The production lines at Wanhe's headquarters are operating at full capacity, with a focus on gas water heaters, and the company has secured significant overseas orders, indicating a strong start to the year in international markets [3][4] Group 2 - The "Guangdong Goods Go Global" initiative is enhancing the development of the home appliance industry and boosting consumer confidence, with government and enterprise collaboration providing dual subsidies to consumers [4] - The market is seeing a notable increase in sales of energy-efficient and high-end products, reflecting strong market resilience and consumer preference for quality [3][4] - The synergy between production and sales, along with the precise release of policy benefits, is revitalizing local consumption and supporting the high-quality development of the home appliance industry [4]

Group 1 - The core viewpoint of the article highlights the surge in home appliance consumption during the New Year, driven by government subsidies, corporate discounts, and consumer demand for innovative products [1][4][12] - The home appliance market is experiencing a significant increase in sales, with reports indicating that sales revenue has exceeded ten million yuan since the beginning of the year, with 85% of transactions occurring after in-store experiences [1][4] - The combination of national and local subsidies, along with additional discounts from retailers and brands, has resulted in overall price reductions of 30% to 40% on certain appliances, making them more attractive to consumers [4][12] Group 2 - The production side of the home appliance industry is also thriving, with companies in Shunde ramping up production to meet both domestic and international demand, indicating a robust supply chain [9][12] - Companies like Wanhe are reporting successful overseas orders, including a significant order in Egypt, and are maintaining production schedules to ensure continuous supply during the Chinese New Year [12][13] - The "Guangdong Goods Go Global" initiative is further supporting the home appliance industry by promoting high-quality products and enhancing brand visibility in international markets [12][13]

Investment Rating - The report maintains a positive outlook on the home appliance industry, with a focus on the "buy" and "outperform" ratings for specific companies within the sector [10]. Core Insights - The "old-for-new" policy implemented in 2024 has significantly stimulated the home appliance market, expanding the subsidy scope to include eight categories, resulting in notable retail growth for certain products [4]. - The report highlights a divergence in performance among kitchen appliance categories, with traditional products facing declining sales while emerging categories show mixed results [4]. - The 2026 "old-for-new" policy is expected to benefit leading brands with superior energy efficiency and performance, particularly in the kitchen appliance sector [4]. Summary by Sections Retail Data Analysis - In 2024, the retail sales of kitchen appliances are projected to reach CNY 362 billion for range hoods (up 14.9% YoY), CNY 204 billion for gas stoves (up 15.7% YoY), CNY 236 billion for electric water heaters (up 1.3% YoY), and CNY 296 billion for gas water heaters (up 8.8% YoY) [4]. - For 2025, the overall retail sales of kitchen and bathroom appliances are expected to decline to CNY 1,613 billion (down 8.5% YoY), with a total volume of 89.77 million units (down 5.3% YoY) [4]. Market Share Insights - In the offline market, leading brands like Boss and Fotile dominate with nearly 60% market share in range hoods and gas stoves, while online competition is intensifying with brands like Midea and Xiaomi rapidly gaining market share [4]. - The report notes that in the dishwasher category, Boss and Fotile each hold close to 20% market share, disrupting the previous dominance of Siemens [4]. Investment Recommendations - The report recommends investing in established brands such as Boss Electric and Huashang Co. in traditional categories, and Wanhe Electric in the water heater segment, which are expected to benefit from the new subsidy policies [4].

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector compared to the overall market performance [4][10]. Core Insights - The "old-for-new" policy in 2024 is expected to significantly activate the home appliance market, expanding the subsidy range to include eight categories, which will drive demand effectively [4]. - Retail sales data for kitchen appliances in 2025 shows a decline in overall demand, with a projected retail sales value of 161.3 billion yuan, down 8.5% year-on-year [4]. - The report highlights a differentiation in performance among kitchen appliance categories, with traditional appliances like range hoods and gas stoves experiencing declines, while emerging categories like dishwashers show varied results [4]. - The report recommends investing in leading brands such as Robam Appliances and Vatti, which are expected to benefit from the new subsidy policies focusing on energy-efficient products [4]. Summary by Sections Market Overview - The "old-for-new" policy will include subsidies for six major appliance categories, with a 15% subsidy on the sales price, capped at 1,500 yuan per item [4]. - Retail sales for range hoods are projected at 36.2 billion yuan in 2024, with a year-on-year growth of 14.9%, while gas stoves are expected to reach 20.4 billion yuan, growing by 15.7% [4]. Performance Analysis - In Q4 2025, the kitchen appliance sector is expected to see a retail sales decline of 8.5% year-on-year, with total sales volume dropping by 5.3% [4]. - Traditional kitchen appliances like range hoods and gas stoves are projected to see declines of 3.6% and 4.9% respectively, while newer categories like dishwashers are also facing challenges with a 3.2% decline [4]. Competitive Landscape - In the offline market, leading brands like Robam and Fotile dominate with nearly 60% market share in range hoods and gas stoves [4]. - Online competition is intensifying, with brands like Midea and Xiaomi rapidly increasing their market shares in various categories [4]. Investment Recommendations - The report suggests focusing on brands with strong market positions and energy-efficient products, particularly Robam Appliances, Vatti, and Wanhe Electric, which are well-positioned to benefit from the upcoming subsidy policies [4].