广东新宝电器股份有限公司（以下简称"新宝股份"、"公司"或"本公司"）及 董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 特别提示： 1、根据《中华人民共和国公司法》（以下简称"《公司法》"）《深圳证券 交易所上市公司自律监管指引第 9 号——回购股份》等相关规定，公司回购证券 账户中股份不享有参与利润分配的权利。公司董事会及股东大会审议 2024 年年 度利润分配方案时，公司回购专户持股 6,356,700 股，利润分配的股本基数为公 司当时总股本811,875,780股扣除公司回购专户所持6,356,700股后的805,519,080 股。 2、公司本次实际现金分红总额=实际参与分配的总股本×分配比例，即 362,483,586.00 元=805,519,080 股×0.45 元/股。因公司已回购股份不参与分红，本 次现金分红实施前后公司总股本保持不变，本次分红派息实施后除权除息价格计 算时，每股现金红利应以 0.4464766 元/股计算（每股现金红利=现金分红总额/总 股本，即 0.4464766 元/股=362,483,586.00 元÷811,875,7 ...

Meeting Information - The shareholder meeting of Guangdong Xinbao Electric Co., Ltd. is scheduled for May 22, 2025, at 2:15 PM, with online voting available on the same day [2] - The meeting will be held at the company's office building, third floor conference room [2] Attendance - A total of 153 shareholders and their proxies attended the meeting, representing 539,446,364 shares, which is 66.9688% of the total voting shares [2] - Among the attendees, 149 were small shareholders, representing 32,885,946 shares, or 4.0826% of the total voting shares [3] Voting Results - The proposals were approved with significant majority votes, with 572,115,365 shares in favor, accounting for 99.9679% of the valid votes cast [3][4] - Small shareholders voted in favor with 32,702,201 shares, representing 0.3772% of the small shareholders' valid votes [4][6] Legal Opinion - The legal opinion provided confirms that the meeting procedures complied with relevant laws, regulations, and the company's articles of association, ensuring the legality and validity of the meeting and voting results [6][7]

证券代码：002705 证券简称：新宝股份 公告编码：（2025）038 号 广东新宝电器股份有限公司 2、 会议时间： 2024 年年度股东大会决议公告 广东新宝电器股份有限公司（以下简称"新宝股份"、"公司"或"本公司"）及 董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 特别提示： 1、 2024 年年度股东大会（以下简称"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形。 一、 会议召开情况 1、 会议召集人：公司董事会 出席本次股东大会表决的股东及股东代理人中，中小股东共 149 人，代表有 表决权的股份数为 32,885,946 股，占公司有表决权股份总数的 4.0826%。 （1） 现场会议召开时间：2025 年 5 月 22 日下午 2 点 15 分 （2） 网络投票时间：2025 年 5 月 22 日。其中，通过深圳证券交易所交易 系统进行网络投票的具体时间为 2025 年 5 月 22 日 9:15-9:25，9:30-11:30 和 13:00- 15:00；通过深圳证券交易所互联网投票系统进行 ...

北京市东城区建国门内大街 26 号新闻大厦 7 层、8 层 电话：010-88004488/66090088 传真：010-66090016 邮编：100005 北京国枫律师事务所 关于广东新宝电器股份有限公司 2024 年年度股东大会的 1．本所律师仅就本次会议的召集与召开程序、召集人和出席现场会议人员资格、 会议表决程序及表决结果的合法性发表意见，不对本次会议所审议的议案内容及该等议 案所表述的事实或数据的真实性、准确性和完整性发表意见； 2．本所律师无法对网络投票过程进行见证，参与本次会议网络投票的股东资格、 网络投票结果均由相应的证券交易所交易系统和互联网投票系统予以认证； 3．本所及经办律师依据《证券法》《证券法律业务管理办法》《证券法律业务执业规 则》等规定及本法律意见书出具日以前已经发生或者存在的事实，严格履行了法定职责， 1 遵循了勤勉尽责和诚实信用原则，进行了充分的核查验证，保证本法律意见所认定的事 实真实、准确、完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述 或者重大遗漏，并承担相应法律责任； 法律意见书 国枫律股字[2025]A0274 号 致：广东新宝电器股份有限公司（ ...

Meeting Overview - The company will hold the 2024 Annual General Meeting (AGM) on May 22, 2025, at 2:15 PM [1] - The meeting will utilize a combination of on-site and online voting methods [2] - Online voting will be available through the Shenzhen Stock Exchange trading system and the internet voting system [2] Voting Procedures - Shareholders can choose either on-site voting or online voting, but not both [2] - All shareholders registered by the cut-off date of May 16, 2025, are entitled to attend and vote [2] - Proxy voting is allowed, and the proxy does not need to be a shareholder [2] Agenda Items - The meeting will review various proposals, including the allocation of surplus reserves and profit distribution for 2024 [8] - Independent directors will report on their work for the year 2024 during the AGM [2][3] Registration and Participation - Registration for participation requires specific documentation depending on whether the shareholder is an individual or a corporate entity [4] - Remote shareholders can register via mail or fax, with a deadline of May 21, 2025, at 5:30 PM [4] Contact Information - The company has provided contact details for inquiries related to the AGM [5]

证券代码：002705 证券简称：新宝股份 公告编码：（2025）037 号 广东新宝电器股份有限公司 关于召开 2024 年年度股东大会的提示性公告 广东新宝电器股份有限公司（以下简称"新宝股份"、"公司"或"本公司" ） 及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 广东新宝电器股份有限公司于 2025 年 4 月 29 日在《证券时报》《证券日 报》《上海证券报》《中国证券报》及巨潮资讯网（http://www.cninfo.com.cn） 刊登了《关于召开 2024 年年度股东大会通知的公告》。2024 年年度股东大会（以 下简称"本次股东大会"）将采用现场投票与网络投票相结合的方式进行。现将 本次股东大会的有关事项提示如下： 一、 召开会议的基本情况 1、 股东大会届次：2024 年年度股东大会。 2、 会议召集人：公司董事会。经公司第七届董事会第七次会议审议通过， 决定召开 2024 年年度股东大会。 3、 会议召开的合法、合规性：本次股东大会的召开符合相关法律、行政法 规、部门规章、规范性文件和《公司章程》等的规定。 4、 会议召开的日期、时间： ...

Investment Rating - The investment rating for Xinbao Electrical Appliances Holdings is maintained as "Buy" with a target price of RMB 16.47, indicating a potential upside of approximately 11% from the closing price of RMB 14.86 as of May 15, 2025 [1][2]. Core Insights - Xinbao's revenue and net profit for 2024 were RMB 16.821 billion and RMB 1.053 billion, respectively, reflecting year-on-year growth of 14.84% and 7.75%. The first quarter of 2025 saw a revenue increase of 10.36% and a net profit increase of 43.02%, driven by strong export growth. However, the increase in US tariffs may pressure performance in the second quarter of 2025 [1][5][7]. - The company has extensive experience in product planning, industrial design, technological innovation, and rapid mass production, which is expected to help maintain resilience in overseas sales [1]. Financial Performance - In 2024, Xinbao's gross profit margin (GPM) decreased by 1.82 percentage points to 20.91% due to a higher proportion of low-GPM exports. In the first quarter of 2025, GPM improved by 0.5 percentage points to 22.42% [6]. - The overall expense ratio decreased by 1.08 percentage points in 2024, with sales and management expense ratios declining by 0.36 and 0.94 percentage points, respectively. However, in the first quarter of 2025, the overall expense ratio increased by 0.18 percentage points due to reduced interest income and foreign exchange gains [6]. Revenue Forecast - Revenue for 2025 is projected to be RMB 17.689 billion, with a growth rate of 5.16%. The net profit is expected to reach RMB 1.163 billion, reflecting a growth rate of 10.44% [14]. - The earnings per share (EPS) for 2025 is estimated at RMB 1.43, with subsequent years showing continued growth [14]. Market Position - Xinbao's domestic sales faced challenges, with a decline of 4.5% in 2024 and a further decline of 4.9% in the first quarter of 2025. However, there was a slight recovery in retail sales for small kitchen appliances in early 2025, indicating potential for future growth [10][11]. - The company proposed a dividend of RMB 0.45 per share for 2024 and initiated a stock buyback plan in early 2025, reflecting an enhancement in shareholder returns [12].

Group 1: Financial Performance - The company achieved a total revenue of 3,834.16 million RMB in Q1 2025, representing a year-on-year growth of 10.36% [21] - The net profit attributable to shareholders reached 246.87 million RMB, with a year-on-year increase of 43.02% [21] - In 2024, the company's operating cash flow decreased by 29.10%, primarily due to increased cash payments for goods and services [22] Group 2: Market Expansion and Strategy - The company’s overseas business grew by 21.68% in 2024, driven by product category expansion and market penetration strategies [2] - Plans to expand into commercial appliances, personal care, pet appliances, and high-tech garden tools are underway to enhance product diversity [2] - The company is actively exploring new markets in Southeast Asia and Europe, with a focus on increasing sales in these regions [2][5] Group 3: Research and Development - The company has significantly increased its R&D investment to enhance product innovation capabilities and meet market demands [2][7] - Future R&D efforts will focus on smart home appliances and personalized product features [9] - The company aims to strengthen its core research areas and expand its product offerings in response to consumer needs [8] Group 4: Production and Supply Chain - The company established a manufacturing base in Indonesia, with an expected sales output of approximately 670 million RMB in 2024 [5][7] - The first phase of the Indonesian facility has been operational since late 2019, producing vacuum cleaners and other products [5] - A second phase is set to begin production in Q2 2025, with an additional investment of 50 million USD to expand capacity [5][7] Group 5: Brand and Market Positioning - The company employs a multi-brand strategy in the domestic market, with brands like Morphy Richards and Donlim positioned in the mid-to-high-end segment [4] - The acquisition of Morphy Richards has shown good profitability, contributing positively to the brand's market presence [8] - The company plans to enhance its marketing efforts and product launches to improve the performance of its domestic brands [9]

证券代码：002705 证券简称：新宝股份 公告编码：（2025）036 号 一、2022 年员工持股计划批准及实施情况 公司于 2022 年 5 月 20 日召开第六届董事会第八次临时会议和第六届监事 会第七次临时会议，并于 2022 年 6 月 6 日召开 2022 年第二次临时股东大会，审 议通过了《关于<广东新宝电器股份有限公司 2022 年员工持股计划（草案）>及 其摘要的议案》《关于<广东新宝电器股份有限公司 2022 年员工持股计划管理办 法>的议案》等相关议案，同意公司实施 2022 年员工持股计划（以下简称"本员 工持股计划"）。 公司于 2022 年 7 月 15 日披露了《关于 2022 年员工持股计划完成非交易过 户的公告》。公司于 2022 年 7 月 14 日，收到中国证券登记结算有限责任公司深 圳分公司出具的《证券过户登记确认书》，公司开立的"广东新宝电器股份有限 公司回购专用证券账户"中所持有的公司股票 766.00 万股已于 2022 年 7 月 13 日 非交易过户至"广东新宝电器股份有限公司-2022 年员工持股计划"专户，过户股 数为 766.00 万股，占公司当时总股 ...

Core Viewpoint - The company reported a solid financial performance for 2024 and Q1 2025, with significant growth in revenue and net profit, indicating a positive outlook for the small home appliance industry. Financial Performance - In 2024, the company's revenue, net profit attributable to the parent, and net profit excluding non-recurring items were 16.8 billion, 1.05 billion, and 1.08 billion yuan, respectively, representing year-on-year growth of 15%, 8%, and 9% [1] - For Q4 2024, the figures were 4.1 billion, 270 million, and 290 million yuan, with year-on-year growth of 6%, 11%, and 48% [1] - In Q1 2025, the revenue, net profit attributable to the parent, and net profit excluding non-recurring items were 3.8 billion, 250 million, and 250 million yuan, showing year-on-year growth of 10%, 43%, and 15% [1] Sales Performance - In 2024, revenue from kitchen appliances, home appliances, and other products was 11.5 billion, 2.9 billion, and 2.1 billion yuan, with year-on-year growth of 16%, 17%, and 7% [2] - For Q4 2024, external sales and internal sales were 13.2 billion and 3.7 billion yuan, with year-on-year changes of +22% and -4% [2] - In Q1 2025, external sales grew by 16% while internal sales declined by 5%, indicating strong overseas demand despite ongoing domestic market challenges [2] Profitability and Cost Management - The gross profit margin for 2024 and Q1 2025 was 20.9% and 22.4%, with year-on-year changes of -1.83% and +0.5 percentage points [3] - The company managed to stabilize its expense ratios, with significant improvements in sales and management expense ratios in Q1 2025 compared to the previous year [3] - The net profit margin for 2024, Q4 2024, and Q1 2025 was 6.3%, 6.5%, and 6.4%, reflecting a notable increase in profitability in Q1 2025 [3] Investment Outlook - The company is a leading exporter in the small home appliance sector, with a strong customer base and scale advantages, actively expanding its customer and product categories [4] - The projected net profits for 2025 and 2026 are 1.2 billion and 1.3 billion yuan, with corresponding EPS of 1.5 and 1.6 yuan, indicating a favorable valuation with PE ratios of 9.7 and 8.7 times [4]