Core Viewpoint - Zhejiang Meida Industrial Co., Ltd. ("Zhejiang Meida") is experiencing a significant decline in its financial performance, with projected net profits for the first half of 2025 expected to drop by 84.11% to 88.21% compared to the previous year, primarily due to a slowdown in the integrated stove industry and adverse market conditions [1][2]. Financial Performance - For the first half of 2025, Zhejiang Meida anticipates a net profit of 11.5 million to 15.5 million yuan, a decrease of 84.11% to 88.21% year-on-year [1]. - The company's expected net profit after excluding non-recurring items is projected to be between 10 million and 14 million yuan, reflecting a decline of 85.59% to 89.71% compared to the same period last year [1]. - In 2024, Zhejiang Meida reported revenues of 877 million yuan, down 47.54% year-on-year, and a net profit of 110 million yuan, a decrease of 76.21% [2]. - Revenue growth rates for Zhejiang Meida from 2022 to 2024 were -15.24%, -8.80%, and -47.54%, while net profit growth rates were -31.97%, 2.68%, and -76.21% respectively [2]. Industry Context - The integrated stove industry, which was once in a rapid growth phase, is now facing challenges due to a slowdown in market demand, particularly influenced by the real estate market downturn and reduced consumer spending [1][2]. - The integrated stove market in China is projected to have a retail sales volume of approximately 17.3 billion yuan in 2024, representing a year-on-year decline of 30.6% [2]. - The integrated stove industry experienced a compound annual growth rate of 55.4% from 2016 to 2018, with sales increasing from approximately 6.1 billion yuan to about 13.6 billion yuan, and further rising to around 25.9 billion yuan in 2022 [1]. Strategic Initiatives - Despite the current challenges, Zhejiang Meida expresses confidence in its future development, focusing on core areas such as scenario-based, integrated, and AI-driven solutions to expand its product matrix and market space [2]. - The company plans to deepen channel reforms and promote the integration of diverse channels for quality development [2]. - Zhejiang Meida is also committed to enhancing operational efficiency through lean management practices to achieve sustainable high-quality growth and increase shareholder value [2]. Investment Activities - In June 2025, Zhejiang Meida announced an investment of approximately 11 million yuan in Motovis Limited, a smart driving solution provider, acquiring a 4.8657% stake in the company [3]. - This investment is aimed at capitalizing on growth opportunities in the smart driving sector and enhancing shareholder returns [3].

异动分析 高股息精选+电子商务+长三角一体化+家用电器+智能家居 1、浙江美大最近3年的股息率分别为：5.60%，7.42%，4.09% 2、根据公司 2022 年报介绍：公司已在天猫、京东、苏宁易购等大型电商平台开设官方旗舰店，并由专 业电商运营机构运营，同时开设公司官方商城、抖音直卖店并对线下经销商开放线上经销权限，引导经 销商线上线下共赢发展。 3、公司注册地址为浙江省嘉兴市，主营业务为集成灶产品的制造、加工和销售。 来源：新浪证券-红岸工作室 8月12日，浙江美大涨0.42%，成交额3217.62万元，换手率0.86%，总市值46.00亿元。 区间今日近3日近5日近10日近20日主力净流入-195.32万-359.42万-434.09万-200.88万-2289.54万 主力持仓 主力没有控盘，筹码分布非常分散，主力成交额767.37万，占总成交额的2.7%。 技术面：筹码平均交易成本为7.29元 该股筹码平均交易成本为7.29元，近期该股获筹码青睐，且集中度渐增；目前股价靠近支撑位7.03，注 意支撑位处反弹，若跌破支撑位则可能会开启一波下跌行情。 公司简介 4、国内集成灶龙头,03年发明设计集成灶 ...

Core Insights - The report highlights the importance of CFOs in listed companies, revealing that the total salary scale for CFOs in A-share companies reached 4.27 billion yuan in 2024, with an average annual salary of 814,800 yuan [1][3]. Salary Overview - The average annual salary for CFOs in the kitchen and bathroom appliance sector is 762,600 yuan, showing a year-on-year increase of 0.46% [7]. - The median salary for CFOs in this sector is 587,400 yuan, which represents a year-on-year decrease of 1.59% [7]. - 37.5% of CFOs in this sector earn over 1 million yuan, with the highest and lowest salaries differing by 1.1588 million yuan [7]. Demographics - The average age of CFOs in the kitchen and bathroom appliance sector is 53.63 years, with 75% being over 50 years old [1][3]. - Male CFOs make up 75% of the group, with an average age of 56.17 years, while female CFOs account for 25% with an average age of 46 years [1]. Educational Background - Among the CFOs in the kitchen and bathroom appliance sector, 62.5% hold a bachelor's degree, while 25% have a master's degree and 12.5% have an associate degree [5]. - The highest salary is reported for CFOs with a master's degree, averaging 932,700 yuan [7]. Tenure - 50% of CFOs in the kitchen and bathroom appliance sector have a tenure of 5-10 years, while 25% have served for more than 10 years and another 25% for 1-3 years [3]. Salary Changes - Among the 8 CFOs sampled, 4 experienced salary increases, 3 saw decreases, and 1 maintained their salary [8]. - The most significant salary decrease was observed for Zhejiang Meida's CFO, Wang Peifei, whose salary dropped by 290,000 yuan from the previous year [9].

Core Insights - The report highlights the significant role of CFOs in listed companies, with the total salary scale for CFOs in A-share companies reaching 4.27 billion yuan in 2024, averaging 814,800 yuan per year [1][3]. Salary Overview - The average salary for CFOs in the home appliance sector is 762,600 yuan, showing a year-on-year increase of 0.46% [7]. - The median salary for CFOs in this sector is 587,400 yuan, which represents a year-on-year decrease of 1.59% [7]. - 37.5% of CFOs earn over 1 million yuan, with the highest and lowest salaries differing by 1.1588 million yuan [7]. Demographics - The average age of CFOs in the kitchen and bathroom appliance sector is 53.63 years, with 75% being over 50 years old [1][3]. - Male CFOs make up 75% of the group, with an average age of 56.17 years, while female CFOs account for 25% with an average age of 46 years [1][3]. Educational Background - Among the CFOs in the kitchen and bathroom appliance sector, 62.5% hold a bachelor's degree, while 25% have a master's degree and 12.5% have an associate degree [5]. Tenure - 50% of CFOs in the kitchen and bathroom appliance sector have a tenure of 5-10 years, while 25% have served for more than 10 years and another 25% for 1-3 years [3]. Salary Changes - Among the 8 CFOs sampled, 4 experienced salary increases, 3 saw decreases, and 1 maintained the same salary [8]. - The most significant salary decrease was observed for Zhejiang Meida's CFO, Wang Peifei, whose salary dropped by 290,000 yuan from the previous year [9].

Market Performance - The kitchen and bathroom appliance sector rose by 2.26% on August 6, with Wanhe Electric leading the gains [1] - The Shanghai Composite Index closed at 3633.99, up 0.45%, while the Shenzhen Component Index closed at 11177.78, up 0.64% [1] Stock Performance - Wanhe Electric (002543) closed at 12.97, with a significant increase of 10.01% and a trading volume of 115,600 shares, amounting to a transaction value of 1.44 billion yuan [1] - Other notable performers included Yitian Intelligent (300911) with a 4.64% increase, and Huoxingren (300894) with a 2.39% increase [1] Capital Flow - The kitchen and bathroom appliance sector saw a net inflow of 47.67 million yuan from institutional investors, while retail investors experienced a net outflow of 67.16 million yuan [1] - The capital flow data indicates that Wanhe Electric had a net inflow of 29.92 million yuan from institutional investors, while retail investors withdrew 28.08 million yuan [2]

Group 1 - The core point of the article highlights the shift in consumer behavior towards meal delivery services and the impact on traditional kitchen appliance companies, as companies like JD are investing in community kitchens to meet the demand for convenient meal options [1][3] - JD plans to invest 1 billion yuan to create "Qixian Kitchen," aiming to recruit "dish partners" to provide reliable meal alternatives for busy consumers, particularly office workers and students [1] - The trend of hotels selling meals in communities reflects a growing preference for convenient dining options, with popular dishes priced affordably, catering to the time-constrained lifestyles of modern consumers [3] Group 2 - The cost of maintaining a home kitchen in first-tier cities is significant, with kitchen space being less prioritized compared to living areas, leading to reduced kitchen sizes in new housing developments [4][8] - Younger generations view cooking as a time-consuming luxury, preferring open kitchen designs that integrate cooking with other household activities, which diminishes the importance of traditional cooking [8] - The integrated stove market, heavily reliant on new housing, is facing a sharp decline due to the downturn in the real estate market, with new housing starts expected to drop significantly in the coming years [9][10] Group 3 - Major integrated stove companies like Zhejiang Meida and Mars have reported substantial revenue and profit declines, indicating severe financial pressure within the industry [10] - The demand for kitchen appliances in the existing housing market is shifting towards essential items with higher replacement rates, such as range hoods and gas stoves, while newer categories like health-oriented appliances are gaining traction [12][14] - Companies like Boss Electric are struggling with stagnant revenue growth and increasing competition in a saturated market, leading to a need for strategic adjustments [16][21] Group 4 - The impact of government subsidies on kitchen appliance demand is seen as a short-term boost that may lead to a decline in future sales, as many consumers have preemptively made purchases [22][25] - The kitchen appliance market is experiencing a divergence in sales performance, with mid-to-high-end products gaining popularity while lower-end products face declining demand [27] - Companies lacking innovation and differentiation are at risk, as evidenced by the struggles of brands like Joyoung, which have seen significant revenue and profit declines [27][28]

Market Performance - The kitchen and bathroom appliance sector increased by 0.6% on August 5, with Yitian Intelligent leading the gains [1] - The Shanghai Composite Index closed at 3617.6, up 0.96%, while the Shenzhen Component Index closed at 11106.96, up 0.59% [1] Stock Performance - Key stocks in the kitchen and bathroom appliance sector showed varied performance, with the following notable changes: - Yichu Xiangneng (300911) closed at 51.31, up 1.02% with a trading volume of 23,600 shares and a turnover of 121 million yuan - Zhejiang Meida (002677) closed at 7.04, up 1.00% with a trading volume of 30,800 shares and a turnover of 21.59 million yuan - Other stocks like Rishidongfang (603366) and Wanhe Electric (002543) also saw increases of 0.94% [1] Capital Flow - The kitchen and bathroom appliance sector experienced a net inflow of 17.78 million yuan from institutional investors, while retail investors saw a net outflow of 26.31 million yuan [1] - Detailed capital flow for specific stocks indicates: - Yichu Xiangneng had a net inflow of 14.80 million yuan from institutional investors, but a net outflow of 18.93 million yuan from retail investors [2] - Rishidongfang saw a net inflow of 5.10 million yuan from institutional investors, with retail investors experiencing a net outflow of 2.71 million yuan [2]

证券日报网讯浙江美大（002677）8月4日在互动平台回答投资者提问时表示，截至2025年7月31日，公 司的股东人数为63410户。 ...

Market Overview - On August 4, the kitchen and bathroom appliance sector rose by 0.53% compared to the previous trading day, with Aopu Technology leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Stock Performance - Aopu Technology (603551) closed at 11.65, with a gain of 3.65% and a trading volume of 32,000 shares, amounting to a transaction value of 36.46 million yuan [1] - Yitian Intelligent (300911) closed at 50.79, up 2.40%, with a trading volume of 36,900 shares and a transaction value of 186 million yuan [1] - Other notable stocks include Shixing Electric (605336) with a slight increase of 0.31%, and Boss Electric (002508) with a minor gain of 0.21% [1] Capital Flow - The kitchen and bathroom appliance sector saw a net inflow of 1.36 million yuan from main funds, while retail investors experienced a net outflow of 14.02 million yuan [1] - Yitian Intelligent had a main fund net inflow of 24.29 million yuan, but also saw a retail net outflow of 21.18 million yuan [2] - Aopu Technology experienced a main fund net inflow of 3.36 million yuan, with retail investors contributing a small net inflow of 0.31 million yuan [2]

公司回答表示：投资者您好，公司董事会审议通过的《关于对外投资事项签署补充协议的议案》，未达 到《深圳证券交易所股票上市规则》和公司《投资管理制度》需经股东大会审议的标准，感谢您的关注 和支持！ 金融界8月4日消息，有投资者在互动平台向浙江美大提问：最近董事会审议通过《关于对外投资事项签 署补充协议的议案》，涉及 1.1亿元重大投资的核心条款变更，仅经董事会审议通过，未提及是否需股 东批准。根据《深交所股票上市规则》，重大投资协议变更需股东大会审议，程序合法性存疑。董事会 这项决议是否违法。 ...