东莞证券股份有限公司 关于广东新宝电器股份有限公司部分募集资金投资项目结 项及节余募集资金使用计划的核查意见 东莞证券股份有限公司（以下简称"东莞证券"或"保荐机构"）作为广东 新宝电器股份有限公司（以下简称"新宝股份"或"公司"）2017 年、2020 年 非公开发行股票的保荐机构，根据《证券发行上市保荐业务管理办法》《深圳证 券交易所股票上市规则》（以下简称"股票上市规则"）、《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》（以下简称"规范运作 指引"）等相关法律法规、规范性文件及新宝股份《公司章程》《募集资金管理 办法》的规定，对公司部分募集资金投资项目结项及节余募集资金使用计划进行 了审慎核查，具体情况如下： 一、本次结项的募集资金基本情况 （一）2017 年度非公开发行股票 经中国证券监督管理委员会（证监许可[2017]54 号）《关于核准广东新宝电 器股份有限公司非公开发行股票的批复》的核准，公司于 2017 年 3 月 3 日非公 开发行人民币普通股(A 股)51,119,800 股，每股面值人民币 1.00 元，每股发行认 购价格为人民币 17.86 元，共计募集人民 ...

节余募集资金使用计划的公告 广东新宝电器股份有限公司（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。 公司于 2024 年 10 月 28 日召开的第七届董事会第五次临时会议和第七届监 事会第五次临时会议，审议通过了《关于公司部分募集资金投资项目结项及节余 募集资金使用计划的议案》，同意将公司 2017 年非公开发行股票募集资金投资项 目（以下简称"2017 年募投项目"）中的"自动化升级改造项目"及 2020 年非公开 发行股票募集资金投资项目（以下简称"2020 年募投项目"）中的"企业信息化管 理升级项目"结项，并将节余的募集资金转出到公司自有资金账户，同时将注销 存放上述两个募投项目资金的专项账户。至此，公司 2017 年募投项目已经全部 结项。 证券代码：002705 证券简称：新宝股份 公告编码：（2024）069 号 广东新宝电器股份有限公司 关于部分募集资金投资项目结项及 根据《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）、《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 ...

证券代码：002705 证券简称：新宝股份 广东新宝电器股份有限公司投资者关系活动记录表 | --- | --- | --- | |-------------------------|----------------------------|-------------------------------------------------------------| | | | 编号： 2024-006 | | | □ 特定对象调研 | □ 分析师会议 | | | □ 媒体采访 □ | 业绩说明会 | | 投资者关系活动 | □ 新闻发布会 □ | 路演活动 | | 类别 | □ 现场参观 | | | | █ 其他 | 广东证监局、广东上市公司协会联合举办的广东辖区 | | | 2024 | 年投资者网上集体接待日活动 | | 参与单位名称及 人员姓名 | | 广东上市公司投资者网上集体接待日交流活动参与者 | | 时间 | 2024 年 9 月 12 | 日（星期四）下午 15:30 至 16:30 | | 地点 | 全景网投资者关系互动平台 | | | | 董事、总裁 曾展晖先生 | | | | | | | ...

1 证券代码：002705 证券简称：新宝股份 公告编码：（2024）061 号 广东新宝电器股份有限公司 关于参加广东辖区 2024 年投资者 网上集体接待日活动的公告 | --- | --- | |------------------------------------------------------------------------|-----------| | | | | 广东新宝电器股份有限公司（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。 | | 为进一步加强与投资者的互动交流，公司将参加由广东证监局、广东上市 公司协会联合举办的"坚定信心 携手共进 助力上市公司提升投资价值——2024 广东辖区上市公司投资者关系管理月活动投资者集体接待日"活动，现将相关事 项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）参与本次互动交流，活动时间为 2024 年 9 月 12 日（周四） 15:30-1 ...

证券代码：002705 证券简称：新宝股份 公告编码：（2024）060 号 广东新宝电器股份有限公司 关于回购股份注销完成暨股份变动的公告 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。 重要内容提示： 公司本次注销股份 6,270,000 股，占注销前公司总股本的 0.77%。 广东新宝电器股份有限公司本次注销股份 6,270,000 股，占注销前公司总股 本的 0.77%，公司总股本由 818,145,780 股减少至 811,875,780 股。 经中国证券登记结算有限责任公司深圳分公司确认，公司本次回购股份注 销已于 2024 年 9 月 5 日完成，公司总股本及无限售条件流通股股份数量发生变 化，现就本次回购股份注销完成暨股份变动情况公告如下： 一、回购股份实施情况 公司于 2024 年 7 月 26 日召开 2024 年第二次临时股东大会，审议通过了 《关于回购公司部分社会公众股份方案的议案》。根据本次股份回购方案，公司 拟使用自有资金人民币 5,000 万元—8,000 万元以 ...

Investment Rating - The investment rating for the company is "Outperform the Market" [1][3][11] Core Views - The company has shown a strong revenue growth of 21.5% year-on-year in H1 2024, with total revenue reaching 7.72 billion [1] - The net profit attributable to the parent company increased by 12.0% to 440 million, while the net profit excluding non-recurring items grew by 9.8% to 490 million [1] - The company’s overseas sales continue to perform well, with a 27.1% increase in H1 2024, amounting to 5.92 billion [1] - Domestic sales of self-owned brands are expected to face pressure due to macroeconomic conditions, with kitchen small appliances retail sales declining [1] - The company is expanding its product categories, particularly in home appliances, which has contributed to revenue growth [1] Summary by Sections Financial Performance - In H1 2024, the company achieved revenue of 77.2 billion, a 21.5% increase year-on-year, and a net profit of 4.4 billion, up 12.0% [1] - Q2 2024 revenue was 42.5 billion, reflecting a 20.5% increase, while net profit was 2.7 billion, a 5.1% increase [1] - The gross margin for H1 2024 decreased by 0.3 percentage points to 21.8% [1] Sales Performance - The company’s overseas sales have shown resilience, with a projected 25.0% growth in Q2 2024 [1] - Domestic sales increased by 6.3% to 18.0 billion in H1 2024, with expectations of a 6.2% growth in Q2 [1] - Kitchen appliances revenue grew by 20.1% to 53.5 billion, while home appliances saw a 40.5% increase to 13.0 billion [1] Profitability and Cost Management - The increase in the proportion of OEM business has negatively impacted the gross margin [1] - Operating expenses have been optimized, with a slight decrease in sales and management expense ratios [1] - The company reported a foreign exchange loss of 864 million, which had a limited impact on overall profitability [1] Future Outlook - The profit forecast for 2024-2026 has been adjusted, with expected net profits of 1.11 billion, 1.24 billion, and 1.36 billion respectively [1] - The company maintains a PE ratio of 10, 9, and 8 for the respective years [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [2]. Core Views - The company achieved a revenue of 7.723 billion yuan in H1 2024, representing a year-on-year growth of 21.53%. The net profit attributable to the parent company was 442 million yuan, up 11.95% year-on-year [2][4]. - The company is focusing on developing a diversified small home appliance technology service system to meet consumer demands for personalized quality living [5]. - The company is experiencing a decline in gross margin, with H1 2024 gross margins at 21.76%, down 0.32 percentage points year-on-year, primarily due to weaker domestic demand and a higher proportion of OEM business [4][5]. Summary by Sections Revenue and Profitability - In H1 2024, the company reported a revenue of 77.23 billion yuan, a 21.53% increase year-on-year. The net profit attributable to the parent company was 4.42 billion yuan, reflecting an 11.95% increase year-on-year. The adjusted net profit was 4.92 billion yuan, up 9.84% year-on-year [2][4]. - For Q2 2024, the revenue was 42.49 billion yuan, with a year-on-year growth of 20.51%. The net profit attributable to the parent company was 2.69 billion yuan, a 5.06% increase year-on-year [2][4]. Sales Performance - The company’s external sales showed strong performance, with a year-on-year growth of 27.05% in H1 2024. Domestic sales grew by 6.34% during the same period [4]. - The company is actively developing its domestic brand business and has seen positive results from its Morphy Richards brand, which is being extended to other brands [4]. Cost and Margin Analysis - The gross margin for H1 2024 was 21.76%, down 0.32 percentage points year-on-year, attributed to weaker domestic demand and a shift towards OEM business [4]. - The company’s operating expenses showed mixed results, with sales and management expenses decreasing, while financial expenses increased significantly due to reduced interest income and exchange gains [4]. Future Outlook - The company aims to enhance its competitive edge through technological innovation and efficiency improvements, with projected net profits for 2024, 2025, and 2026 at 1.09 billion, 1.26 billion, and 1.40 billion yuan, respectively [5].

新宝股份（ [Table_StockNameRptType] 002705） 公司点评 外销高增带动收入超预期 ——新宝股份 2024Q2 点评 | --- | --- | --- | --- | |------------------------------------------------------------------------------------------------------|----------------------|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Investment Rating - The report maintains a "Buy" rating for the company, with an expected profit growth leading to a price-to-earnings (PE) ratio of 9.2x for 2024, 8.3x for 2025, and 7.6x for 2026 [4][6]. Core Insights - The company achieved a revenue of 7.723 billion yuan in H1 2024, representing a year-on-year increase of 21.53%, with a net profit of 442 million yuan, up 11.95% year-on-year [1]. - The growth in revenue is driven by a strong performance in overseas sales, which saw a year-on-year increase of 27.1% in H1 2024, while domestic sales grew steadily by 6.3% [2]. - The company's gross margin for H1 2024 was 21.76%, a slight decrease of 0.32 percentage points year-on-year, attributed to weaker performance in its higher-margin proprietary brand [2]. - Financial expenses showed significant fluctuations due to reduced interest income and foreign exchange gains, impacting the overall financial performance [3]. - The net cash flow from operating activities decreased by 86.18% year-on-year to 54 million yuan in H1 2024, primarily due to increased cash payments for goods and services [4]. Financial Data Summary - The company reported a revenue of 16.54 billion yuan for 2024E, with a projected growth rate of 12.91% [5]. - The net profit attributable to the parent company is expected to reach 1.13 billion yuan in 2024E, reflecting a growth rate of 15.35% [5]. - The earnings per share (EPS) is projected to be 1.38 yuan for 2024E, with a PE ratio of 9.15 [5][11]. - The company’s total assets are estimated to be 16.70 billion yuan in 2024E, with a debt-to-asset ratio of 47.38% [9][10].

F熄证券 家用电器/小家电 公 司 研 究 新宝股份（002705.SZ） 2024 年 08 月 28 日 2024Q2 外销延续较高景气，内销平稳增长 ——公司信息更新报告 投资评级：买入（维持） | --- | --- | |-------------------------|-------------| | | | | 日期 | 2024/8/28 | | 当前股价 ( 元 ) | 12.60 | | 一年最高最低 ( 元 ) | 19.19/10.80 | | 总市值 ( 亿元 ) | 103.09 | | 流通市值 ( 亿元 ) | 102.61 | | 总股本 ( 亿股 ) | 8.18 | | 流通股本 ( 亿股 ) | 8.14 | | 近 3 个月换手率 (%) | 37.02 | 股价走势图 -40% -20% 0% 20% 2023-08 2023-12 2024-04 2024-08 新宝股份 沪深300 数据来源：聚源 相关研究报告 《2024Q1 外销延续亮眼表现，内销增 速有所改善 —公司信息更新报告》 -2024.4.28 《推新节奏加快或带动内销改善，外 销短期仍有支撑—公 ...