证券代码：002677 证券简称：浙江美大 公告编号：2025-032 浙江美大实业股份有限公司 2、现场会议召开地点： 2025年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容的真实、准确和完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会未出现否决提案的情形； 2、本次股东大会未涉及变更以往股东大会已通过决议的情况。 一、会议的召开情况 1、会议召开时间： （1）现场会议时间：2025 年 9 月 16 日（星期二）14:00； （2）网络投票时间：2025 年 9 月 16 日（星期二），其中通过深圳证券交易 所交易系统进行网络投票的时间为 2025 年 9 月 16 日 9:15-9:25，9:30—11:30 和 13:00—15:00；深圳证券交易所互联网投票系统进行投票的时间为：2025 年 9 月 16 日 9:15-15:00 期间的任意时间。 通过现场和网络投票的股东 183 人，代表股份 390,557,681 股，占公司有表 浙江美大实业股份有限公司会议室，浙江省海宁市袁花镇谈桥 81 号（海宁 市东西大道 60Km 处）。 决权股份总数的 ...

Group 1 - The kitchen and bathroom appliance sector increased by 1.21% on September 16, with Sunrise Oriental leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] - Key stocks in the kitchen and bathroom appliance sector showed varied performance, with Sunrise Oriental closing at 10.20, up 3.24%, and Zhejiang Meida at 7.07, up 3.06% [1] Group 2 - The main capital inflow in the kitchen and bathroom appliance sector was 38.65 million yuan, while retail investors saw a net outflow of 22.81 million yuan [1] - Detailed capital flow data indicates that Sunrise Oriental had a net inflow of 31.57 million yuan from main capital, while retail investors experienced a net outflow of 25.36 million yuan [2] - Other notable stocks included Zhejiang Meida with a net inflow of 8.04 million yuan from main capital and a net outflow of 10.50 million yuan from retail investors [2]

Group 1 - A total of 67 stocks experienced block trading on September 15, with a total transaction value of 2.22 billion yuan [1] - The top three stocks by transaction value were Hangzhou Steel (2.5 billion yuan), Guangqi Technology (2.23 billion yuan), and Demingli (2.04 billion yuan) [1] - Among the stocks, 10 were traded at par, 4 at a premium, and 53 at a discount; Zhejiang Meida, SF Holding, and HNA Technology had the highest premium rates of 9.04%, 7.06%, and 1.35% respectively [1] Group 2 - The top stocks by institutional buying were Hangzhou Steel (250 million yuan), Jiangsu Leili (198 million yuan), and Haiguang Information (106 million yuan) [2] - Other notable institutional purchases included Caida Securities (63.6 million yuan), BGI (25 million yuan), and Ningde Times (20.9 million yuan) [2] Group 3 - The top stocks by institutional selling included Xinyi Technology (21 million yuan), Ningde Times (20.9 million yuan), and BYD (20.8 million yuan) [3]

Group 1 - On September 15, Zhejiang Meida executed a block trade of 3.4307 million shares, with a transaction value of 25.6701 million yuan, accounting for 46.65% of the total transaction value for the day [1] - The average transaction price was 7.48 yuan, representing a premium of 9.07% over the market closing price of 6.86 yuan [1] - The highest transaction price reached 7.50 yuan, while the lowest was 7.40 yuan [1]

Group 1 - Zhejiang Meida executed a block trade on September 12, with a transaction volume of 3.45 million shares and a transaction amount of 25.875 million yuan, at a price of 7.50 yuan, representing a premium of 9.81% over the closing price of the day [2] - In the last three months, Zhejiang Meida has recorded a total of 16 block trades, with a cumulative transaction amount of 134 million yuan [2] - The closing price of Zhejiang Meida on the day of the report was 6.83 yuan, down 0.58%, with a daily turnover rate of 0.56% and a total transaction amount of 20.715 million yuan [2] Group 2 - Over the past five days, Zhejiang Meida has seen a cumulative increase of 0.74%, with a total net outflow of funds amounting to 2.4272 million yuan [2] - One institution rated the stock in the last five days, with Huachuang Securities setting the highest target price at 7.70 yuan as of September 12 [2]

Summary of Key Points Core Viewpoint - Zhejiang Meida conducted a block trade on September 12, with a transaction volume of 3.45 million shares and a transaction value of 25.875 million yuan, at a price of 7.50 yuan, representing a premium of 9.81% over the closing price of the day [2]. Trading Activity - The block trade involved a total of 3.45 million shares, with a transaction value of 25.875 million yuan, and the transaction price was 7.50 yuan, which is a 9.81% premium compared to the closing price of the day [2]. - Over the past three months, Zhejiang Meida has recorded a total of 16 block trades, amounting to a cumulative transaction value of 134 million yuan [2]. Market Performance - On the same day, Zhejiang Meida's closing price was 6.83 yuan, reflecting a decrease of 0.58%, with a daily turnover rate of 0.56% and a total transaction value of 20.715 million yuan [2]. - The net outflow of main funds for the day was 1.3498 million yuan, and over the past five days, the stock has seen a cumulative increase of 0.74%, with a total net outflow of funds amounting to 2.4272 million yuan [2]. Institutional Ratings - In the last five days, one institution has provided a rating for the stock, with Huachuang Securities setting the highest target price at 7.70 yuan as of September 12 [2].

Investment Rating - The report maintains a "Recommendation" rating for the company with a target price of 7.7 yuan [2][8]. Core Insights - The company reported a significant decline in revenue and net profit for the first half of 2025, with total revenue of 210 million yuan, down 53.8% year-on-year, and a net profit of 10 million yuan, down 87.4% year-on-year [2][8]. - The decline in performance is attributed to weak market demand, particularly influenced by the downturn in the real estate sector, which has adversely affected the company's core business of integrated stoves [2][8]. - The competitive landscape is intensifying, leading to a decrease in gross margins, which fell to 38.1% in the first half of 2025, down 6.2 percentage points year-on-year [2][8]. - Management expenses remain rigid, contributing to a significant drop in profitability, with a net profit margin of 5.8% in the first half of 2025, down 15.5 percentage points year-on-year [2][8]. - The report forecasts earnings per share (EPS) of 0.07, 0.12, and 0.17 yuan for 2025, 2026, and 2027 respectively, with corresponding price-to-earnings (PE) ratios of 93, 58, and 40 [2][8]. Financial Summary - For 2025, the company is expected to generate total revenue of 575 million yuan, a decrease of 34.5% compared to 2024, with a projected net profit of 48 million yuan, down 56.9% [4][9]. - The gross margin for the core integrated stove product is projected to decline to 39.8% in the first half of 2025, reflecting a 5.9 percentage point decrease year-on-year [2][8]. - The company's total assets are estimated to be 1.462 billion yuan in 2025, with a debt-to-equity ratio of 1.6% [9].

Market Overview - The kitchen and bathroom appliance sector increased by 0.49% on September 11, with Mars leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Stock Performance - Key stocks in the kitchen and bathroom appliance sector showed varied performance: - Mars (300894) closed at 13.53, up 1.65% with a trading volume of 51,900 shares and a turnover of 69.21 million yuan [1] - Sunrise Oriental (603366) closed at 10.01, up 1.42% with a trading volume of 207,900 shares and a turnover of 206 million yuan [1] - Other notable stocks include: - Vatti (002035) at 6.51, up 1.24% - Wanhe Electric (002543) at 11.88, up 0.42% - Boss Electric (002508) at 20.27, down 0.05% [1] Capital Flow - The kitchen and bathroom appliance sector experienced a net outflow of 15.57 million yuan from institutional investors, while retail investors saw a net inflow of 8.15 million yuan [1] - Detailed capital flow for key stocks: - Mars (300894) had a net inflow of 6.38 million yuan from institutional investors, but a net outflow from retail investors [2] - Sunrise Oriental (603366) also saw a net inflow from institutional investors of 6.23 million yuan, with retail investors showing a net outflow [2] - Vatti (002035) had a net inflow of 4.57 million yuan from institutional investors, while retail investors had a slight net inflow [2]

Core Viewpoint - Zhejiang Meida conducted a block trade on September 10, with a transaction volume of 799,800 shares and a transaction value of 5.9982 million yuan, at a price of 7.50 yuan, representing a premium of 9.17% over the closing price of the day [2] Summary by Relevant Sections Block Trade Details - The block trade involved a total of 799,800 shares with a transaction value of 5.9982 million yuan [2] - The transaction price was set at 7.50 yuan, which is a 9.17% premium compared to the closing price of the day [2] - Both the buyer and seller were from the same brokerage, Zheshang Securities Co., Ltd., at the Haining Shuiyue Pavilion West Road branch [2] Recent Trading Activity - Over the past three months, Zhejiang Meida has recorded a total of 15 block trades, with a cumulative transaction value of 108 million yuan [2] - On the same day, the closing price of Zhejiang Meida was 6.87 yuan, reflecting an increase of 0.59% [2] - The stock had a turnover rate of 0.67% and a total trading volume of 24.5275 million yuan for the day [2] - There was a net outflow of 184,600 yuan in main capital for the day, and over the past five days, the stock has seen a cumulative increase of 1.63% with a total net outflow of 6.2451 million yuan [2]

Group 1 - On September 10, Zhejiang Meida executed a block trade of 799,800 shares, with a transaction value of 5.9982 million yuan, accounting for 19.65% of the total transaction value for the day [1] - The transaction price was 7.50 yuan, representing a premium of 9.17% over the market closing price of 6.87 yuan [1][2] - The buyer and seller for the transaction were both from Zheshang Securities Co., Ltd., specifically from the Haining Shuiyuetingxi Road Securities Business Department [2]