证券代码：002543 证券简称：万和电气 公告编号：2025-055 广东万和新电气股份有限公司 董事会六届五次会议决议公告 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、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 六届五次会议于 2025 年 12 月 2 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 2025 年 11 月 21 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 8 人，实际出席董事 8 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 因经营发展需要，公司及全资子公司拟向银行申请综合授信额度，具体明细 如下： （1）公司向交通银行股份有限公司顺德分行申请人民币肆亿伍仟万元综合 授信额度，授信额度协议有效期限自协议签署之日起贰年内有效； （2）全 ...

每经头条（nbdtoutiao）——股民发帖求主力拉涨停，次日竟成真！襄阳轴承涨停迷局背后：平台审核 漏洞与市场操纵疑云发酵 （记者 王晓波） 每经AI快讯，万和电气12月2日晚间发布公告称，公司六届五次董事会会议于2025年12月2日在公司会 议室以现场表决与通讯表决相结合的方式召开。会议审议了《关于修订已投资股权基金合伙协议部分条 款的议案》等文件。 ...

万和电气公告，公司间接控股股东广东万和集团有限公司计划在2025年9月3日至2025年12月2日期间通 过集中竞价交易方式减持公司股份不超过741.51万股，占公司总股本的1%。截至2025年12月2日，万和 集团未实施任何减持行为，减持股份计划已到期并自动终止。万和集团直接持有公司股份5823.6万股， 占公司总股本的7.8537%。本次减持股份计划的实施不会导致公司控制权发生变更，亦不会对公司治理 结构、股权结构及未来持续生产经营产生重大影响。 ...

Core Insights - The kitchen and bathroom appliance sector experienced a 0.76% increase on December 2, with "Rising Sun" leading the gains [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Stock Performance - "Rising Sun" (603366) closed at 10.00, up 5.15%, with a trading volume of 889,500 shares and a transaction value of 878 million [1] - "Boss Electric" (002508) closed at 20.64, up 2.08%, with a trading volume of 137,100 shares and a transaction value of 282 million [1] - "Aopu Technology" (603551) closed at 12.00, up 1.95%, with a trading volume of 98,600 shares and a transaction value of 120 million [1] - "Mars Man" (300894) closed at 12.35, up 0.32%, with a trading volume of 42,100 shares and a transaction value of 51.78 million [1] - "Weisheng Shares" (002035) closed at 6.27, up 0.16%, with a trading volume of 83,900 shares and a transaction value of 5.25 million [1] - "Wanhua Electric" (002543) closed at 10.73, down 0.74%, with a trading volume of 90,000 shares and a transaction value of 9.72 million [1] - "Zhejiang Meida" (002677) closed at 8.33, down 0.83%, with a trading volume of 56,200 shares and a transaction value of 4.68 million [1] - "Shuai Xing Electric" (605336) closed at 15.59, down 1.45%, with a trading volume of 28,400 shares and a transaction value of 4.43 million [1] - "Yitian Smart" (300911) closed at 34.15, down 4.95%, with a trading volume of 38,300 shares and a transaction value of 132 million [1] Capital Flow - The kitchen and bathroom appliance sector saw a net outflow of 13.95 million from main funds, while retail funds experienced a net inflow of 21.71 million [1] - The detailed capital flow for key stocks shows varying trends in net inflows and outflows among main, retail, and speculative funds [2] - "Rising Sun" had a main fund net inflow of 53.23 million, while retail funds saw a net outflow of 45.92 million [2] - "Wanhua Electric" had a main fund net inflow of 2.97 million, with retail funds experiencing a net outflow of 8.89 million [2] - "Mars Man" had a main fund net outflow of 1.44 million, while speculative funds had a net inflow of 3.70 million [2] - "Zhejiang Meida" had a main fund net outflow of 2.38 million, with retail funds seeing a net inflow of 2.91 million [2] - "Boss Electric" had a main fund net outflow of 3.17 million, while retail funds had a net inflow of 7.85 million [2] - "Shuai Feng Electric" had a main fund net outflow of 4.94 million, with retail funds seeing a net inflow of 6.17 million [2] - "Weisheng Shares" had a main fund net outflow of 9.20 million, while speculative funds had a net inflow of 4.76 million [2] - "Aopu Technology" had a main fund net outflow of 14.43 million, with speculative funds seeing a net inflow of 10.58 million [2] - "Yitian Smart" had a main fund net outflow of 34.59 million, while speculative funds had a net inflow of 10.51 million [2]

Group 1 - The core transaction on December 1 involved a block trade of 1.7253 million shares of Wanhe Electric, with a transaction value of 20.255 million yuan, at a price of 11.74 yuan, representing an 8.60% premium over the closing price of the day [2][3] - The buyer of the block trade was CITIC Securities South China Co., Ltd. Guangdong Branch, while the seller was CITIC Securities South China Co., Ltd. Foshan Shunde Daliang Securities Branch [2][3] - In the last three months, Wanhe Electric has recorded a total of six block trades, amounting to a cumulative transaction value of 123 million yuan [2] Group 2 - The latest margin financing balance for Wanhe Electric is 64.181 million yuan, which has decreased by 2.9863 million yuan over the past five days, reflecting a decline of 4.45% [3] - As of December 1, Wanhe Electric's closing price was 10.81 yuan, down 0.55%, with a daily turnover rate of 0.62% and a total transaction amount of 44.2733 million yuan [2] - Over the past five days, the stock has seen a cumulative decline of 0.28%, with a total net outflow of funds amounting to 9.9936 million yuan [2]

Core Viewpoint - Wanhe Electric experienced a decline of 0.55% on December 1, closing at 10.81 yuan, with a significant block trade occurring [1] Group 1: Stock Performance - The stock recorded a block trade with a total volume of 1.7253 million shares and a transaction value of 20.255 million yuan [1] - The first transaction price was 11.74 yuan, with a total of 1.7253 million shares traded, resulting in a premium rate of 8.60% [1] - Over the past three months, the stock has seen a total of six block trades, amounting to a cumulative transaction value of 123 million yuan [1] Group 2: Market Activity - In the last five trading days, the stock has experienced a cumulative decline of 0.28%, with a net outflow of 17.7309 million yuan from main funds [1]

Summary of Key Points Core Viewpoint - On December 1, Wanhe Electric conducted a block trade of 1.7253 million shares, with a transaction value of 20.255 million yuan, representing 31.39% of the total trading volume for the day. The transaction price was 11.74 yuan, reflecting an 8.6% premium over the market closing price of 10.81 yuan [1]. Group 1 - The block trade involved 1.7253 million shares of Wanhe Electric [2]. - The total transaction amount for the block trade was 20.255 million yuan [2]. - The transaction price of 11.74 yuan was at an 8.6% premium compared to the market closing price of 10.81 yuan [1]. Group 2 - The block trade accounted for 31.39% of the total trading volume on that day [1]. - The buyer was from the South China branch of Xinhua Securities, while the seller was from the Foshan Shunde branch of CITIC Securities [2].

Core Insights - The kitchen and bathroom appliance industry is facing significant challenges, with major companies like Vanward Electric and Vatti Holdings undergoing leadership changes amid declining market performance [2][3][4] Industry Overview - The real estate market has negatively impacted the kitchen and bathroom appliance sector, with a reported 0.6% year-on-year decline in sales for kitchen and bathroom appliances in China for the first nine months of 2025, totaling 113.1 billion yuan [3] - Sales of integrated stoves plummeted by 40.9%, while electric and gas water heaters saw slight decreases of 0.4% and 1.3%, respectively [3] - The recent Double 11 shopping festival revealed a significant drop in sales, with offline sales of various kitchen appliances down by 35% to 40% and online sales down by 20% to 59% [3][4] Company Performance - Vatti Holdings reported a 9.13% decrease in revenue to 4.158 billion yuan and an 11.9% drop in net profit to 356 million yuan for the first three quarters of the year [4] - Vanward Electric achieved a 5.54% increase in revenue to 5.524 billion yuan and a 5.56% rise in net profit to 479 million yuan, with its new kitchen appliance segment growing by 23.46% [4] - Both companies are heavily reliant on the domestic market, with Vatti's domestic revenue at 2.4 billion yuan and overseas revenue at 347 million yuan, while Vanward's domestic revenue was 2.275 billion yuan and overseas revenue at 1.729 billion yuan [5] Strategic Adjustments - Both companies are family-controlled and are attempting to balance new business ventures with traditional product lines, focusing on practical and high-end product offerings [6][8] - The need for a balance between innovation and maintaining core business operations is critical for survival in the current market environment [6][8] - The companies are also exploring smart home solutions and integrating technology into their product offerings to stay competitive [8] Leadership Changes - Recent leadership changes at Vanward and Vatti signal a potential shift in strategy, with a focus on enhancing marketing and operational efficiency [2][7] - The appointment of new executives aims to streamline operations and improve the integration of online and offline marketing strategies [7]

Core Viewpoint - Wanhe Electric's stock price has experienced fluctuations, with a recent decline of 2.01% and a year-to-date increase of 12.61% [1][2]. Group 1: Stock Performance - As of November 19, Wanhe Electric's stock price is 11.24 yuan per share, with a market capitalization of 8.358 billion yuan [1]. - The stock has seen a decline of 2.68% over the last five trading days, 5.55% over the last 20 days, and 10.94% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Wanhe Electric achieved a revenue of 5.524 billion yuan, representing a year-on-year growth of 5.54%, and a net profit attributable to shareholders of 479 million yuan, also reflecting a growth of 5.57% [2]. - The company has distributed a total of 3.205 billion yuan in dividends since its A-share listing, with 932 million yuan distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Wanhe Electric is 18,900, an increase of 20.40% from the previous period, with an average of 34,968 circulating shares per shareholder, a decrease of 16.95% [2]. - The top ten circulating shareholders include notable entities such as Hong Kong Central Clearing Limited and Chuangjin Hexin Zhongzheng Dividend Low Volatility Index A, with changes in their holdings noted [3].

Core Insights - The kitchen and bathroom appliance sector rose by 1.3% on November 18, with "Rising Sun" leading the gains [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Sector Performance - "Rising Sun" (603366) closed at 12.87, up 5.67% with a trading volume of 2.0579 million shares and a transaction value of 2.7 billion yuan [1] - "Zhejiang Meida" (002677) closed at 8.48, up 3.92% with a trading volume of 309,900 shares and a transaction value of 263 million yuan [1] - "Aopu Technology" (603551) closed at 11.78, up 1.46% with a trading volume of 29,500 shares and a transaction value of 34.55 million yuan [1] - "Yitian Intelligent" (300911) closed at 38.10, up 0.79% with a trading volume of 22,300 shares and a transaction value of 84.38 million yuan [1] - "Boss Electric" (002508) closed at 19.85, up 0.35% with a trading volume of 68,100 shares and a transaction value of 136 million yuan [1] - "Mars Man" (300894) closed at 12.92, down 0.31% with a trading volume of 49,300 shares and a transaction value of 64.02 million yuan [1] - "Wanhua Electric" (002543) closed at 11.47, down 0.35% with a trading volume of 45,700 shares and a transaction value of 52.48 million yuan [1] - "Laihuang Shares" (002035) closed at 6.47, down 0.46% with a trading volume of 113,100 shares and a transaction value of 73.30 million yuan [1] - "Shuaiyu Electric" (605336) closed at 4.16, down 1.02% with a trading volume of 50,800 shares and a transaction value of 84.96 million yuan [1] Capital Flow - The kitchen and bathroom appliance sector experienced a net outflow of 137 million yuan from institutional investors, while retail investors saw a net inflow of 176 million yuan [1] - "Zhejiang Meida" had a net inflow of 36.20 million yuan from institutional investors, while retail investors had a net outflow of 26.88 million yuan [2] - "Boss Electric" saw a net inflow of 16.13 million yuan from institutional investors, with retail investors experiencing a net outflow of 14.37 million yuan [2] - "Mars Man" had a net inflow of 1.87 million yuan from institutional investors, while retail investors had a net outflow of 81,970 yuan [2] - "Aopu Technology" experienced a net inflow of 1.26 million yuan from institutional investors, with retail investors seeing a net outflow of 2.55 million yuan [2] - "Rising Sun" had a net outflow of 1.82 million yuan from institutional investors, while retail investors had a net inflow of 209 million yuan [2]