（文章来源：证券日报） 证券日报网讯新宝股份8月29日发布公告，在公司回答调研者提问时表示，公司今年上半年销售费用同 比增长6.80%，主要原因之一是公司加大了国内自主品牌的市场推广力度。虽然目前小家电市场整体消 费比较低迷，加上小家电是一个充分竞争的市场，且竞争在不断地加剧，但随着国内经济修复和国家消 费政策的支持，公司对未来内销业务保持信心，2025年自主品牌国内销售在推新力度及营销投放等方面 也会更加积极。 ...

（文章来源：证券日报） 证券日报网讯新宝股份8月29日发布公告，在公司回答调研者提问时表示，公司出口业务遍布全球，主 要以ODM/OEM业务为主；自主品牌出海目前主要在部分新兴国家和地区进行尝试，体量还很小。 ...

证券日报网讯新宝股份8月29日发布公告，在公司回答调研者提问时表示，改善利润端、提高经营质量 是公司近年来的工作重点。一方面公司通过标准平台化、自动化建设及供应链体系改善等措施不断提升 效率；另一方面，公司近年来不断持续加大研发投入，并于2024年设立了电器研究院，通过加大技术研 发、改善产品结构、推出更多高客单价的产品等，从而提升整体的毛利率。 （文章来源：证券日报） ...

证券日报网讯新宝股份8月29日发布公告，在公司回答调研者提问时表示，受美国关税政策等影响，公 司7-8月份的外销订单延续了6月份以来弱复苏的状态，景气度相对低迷；四季度外销订单趋势目前暂不 明晰，预计全年外销总体情况偏弱。 （文章来源：证券日报） ...

Market Overview - The small home appliance sector increased by 0.26% on August 29, with Ecovacs leading the gains [1] - The Shanghai Composite Index closed at 3857.93, up 0.37%, while the Shenzhen Component Index closed at 12696.15, up 0.99% [1] Top Performers - Ecovacs (603486) closed at 96.89, up 3.68% with a trading volume of 67,400 shares and a transaction value of 646 million [1] - Beiyikang (6610Z8) closed at 41.86, up 2.60% with a trading volume of 34,000 shares and a transaction value of 144 million [1] - Biyi Co. (603215) closed at 21.93, up 2.29% with a trading volume of 94,200 shares and a transaction value of 205 million [1] Underperformers - Fujia Co. (603219) closed at 19.32, down 8.17% with a trading volume of 206,000 shares and a transaction value of 407 million [2] - Xiaoxiong Electric (002959) closed at 52.46, down 3.58% with a trading volume of 76,800 shares [2] - Lek Electric (603355) closed at 23.08, down 3.35% with a trading volume of 68,400 shares and a transaction value of 158 million [2] Capital Flow - The small home appliance sector experienced a net outflow of 210 million from institutional investors, while retail investors saw a net inflow of 96.66 million [2] - The sector's capital flow indicates a mixed sentiment among different investor types, with institutional investors pulling back while retail investors are more active [2] Detailed Capital Flow Analysis - Biyi Co. (603215) had a net inflow of 13.51 million from institutional investors, but a net outflow of 13.99 million from retail investors [3] - Ousheng Electric (301187) saw a net inflow of 11.66 million from institutional investors, with a net outflow of 15.37 million from retail investors [3] - Jiyang Co. (002403) experienced a net outflow of 2.40 million from institutional investors, while retail investors contributed a net inflow of 7.55 million [3]

免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 每经AI快讯，中国银河8月29日发布研报称，给予新宝股份（002705.SZ，最新价：16.31元）推荐评 级。评级理由主要包括：1）厨房电器、其他产品同比下滑，家居电器实现双位数增长；2）内销延续疲 软表现，百胜图表现较优；3）Q2 外销受关税影响，积极建设海外产能；4）印尼产能关税优势突出， 看好公司未来份额提升。风险提示：美国关税风险；汇率波动风险；中国小家电市场需求不足风险。 每经头条（nbdtoutiao）——申请超2万份，已开出41家，加盟海底捞，你要准备多少钱？1000万元不算 多，真实"账单"公布 （记者 谭玉涵） ...

家用电器/小家电 新宝股份（002705.SZ） 2025Q2 收入受关税影响阶段承压，利润率维持稳定 2025 年 08 月 29 日 投资评级：买入（维持） | 日期 | 2025/8/28 | | --- | --- | | 当前股价(元) | 16.80 | | 一年最高最低(元) | 17.45/12.05 | | 总市值(亿元) | 136.40 | | 流通市值(亿元) | 135.76 | | 总股本(亿股) | 8.12 | | 流通股本(亿股) | 8.08 | | 近 3 个月换手率(%) | 79.19 | 股价走势图 -10% 0% 10% 20% 30% 40% 50% 2024-08 2024-12 2025-04 新宝股份 沪深300 数据来源：聚源 相关研究报告 《2025Q1 外销延续较好景气，内销降 幅收窄 — 公 司 信 息 更 新 报 告 》 -2025.4.29 《2024Q3 外销延续较高景气，内销仍 有 所 承 压 — 公 司 信 息 更 新 报 告 》 -2024.10.31 吕明（分析师） 林文隆（分析师） lvming@kysec.cn linwenlon ...

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：2025-004 | | √特定对象调研 □分析师会议 | | --- | --- | | 投 资 者 关 系 活 | □媒体采访 □业绩说明会 | | 动类别 | □新闻发布会 □路演活动 | | | □现场参观 | | | √其他 投资机构线上交流 长江证券、国联民生证券、中信证券、国泰海通证券、开源证券、光 | | | 信证券、申万宏源证券、太平洋证券、华西证券、华创证券、华源证 | | | 大证券、首创证券、天风证券、广发证券、中金公司、西南证券、国 | | 参 与 单 位 名 称 | 券、国投证券、财通证券、中泰证券、中信建投证券、中国银河证券、 | | 及人员姓名 | 国金证券、华安证券、国盛证券、高盛（中国）证券、招商证券、华 | | | 泰证券、华福证券、中欧基金、泓德基金、新华基金、中海基金、国 | | | 投瑞银基金、华泰保兴基金、深圳汇升同道资产管理、深圳智诚海威 | | | 资产管理、国金证券资产管理等 54 方接入电话会议。 | | 时间 | 2025 年 8 月 28 日 | | 地点 ...

Overview - The report provides insights into the performance of various companies across different industries, highlighting key financial metrics and growth prospects for the first half of 2025 [1][2]. Key Insights - The coal industry shows signs of recovery with companies like 潞安环能 and 山煤国际 reporting improved performance in Q2 2025, driven by increased production and cost optimization [34][40]. - The electric equipment sector is witnessing stability in pricing due to the phosphoric iron lithium development initiative, which aims to support sustainable growth in the industry [5]. - The construction and decoration industry, represented by companies like 中国建筑 and 矩阵股份, is experiencing accelerated growth in Q2 2025, with improved cash flow and profitability [10][14]. - The agricultural sector, particularly 温氏股份, is seeing a rebound in chicken prices, which is expected to enhance profitability in the latter half of 2025 [12]. - The media and entertainment industry, with companies like 风语筑 and 荣信文化, is leveraging AI and digital transformation to enhance revenue streams and improve financial performance [18][27]. Company Summaries Coal Industry - 潞安环能 reported a Q2 2025 revenue of 71.01 billion yuan, a decrease of 21.05% year-on-year, but with a significant improvement in production and cost management [34]. - 山煤国际's Q2 2025 revenue was 51.58 billion yuan, down 33.03% year-on-year, but the company is optimistic about recovery due to rising coal prices in the second half of the year [40]. Electric Equipment - The phosphoric iron lithium initiative aims to stabilize prices and improve profitability for companies in the sector, with a focus on sustainable development [5]. Construction and Decoration - 中国建筑 achieved a Q2 2025 net profit of 466 billion yuan, reflecting a 1% increase year-on-year, supported by improved cash flow and reduced impairment losses [10]. - 矩阵股份 reported a significant increase in net profit, with a 103% growth in non-recurring profit, driven by enhanced asset quality and cash flow [14]. Agriculture - 温氏股份 sold 1,793.19 million pigs in H1 2025, a 25% increase year-on-year, with a notable drop in costs leading to improved profitability [12]. Media and Entertainment - 风语筑's H1 2025 revenue grew by 33.97% to 7.75 billion yuan, marking a turnaround to profitability, while 荣信文化 is focusing on AI-driven marketing strategies to enhance growth [18][27]. Financial Projections - The report includes projections for various companies, indicating expected growth in net profits for 2025-2027 across multiple sectors, with specific figures provided for companies like 海尔智家 and 龙净环保 [28][30].

证券之星价投圈财报分析工具显示： 业务评价：公司去年的ROIC为12.78%，历来资本回报率强。去年的净利率为6.63%，算上全部成本 后，公司产品或服务的附加值一般。从历史年报数据统计来看，公司近10年来中位数ROIC为11.79%， 中位投资回报一般，其中最惨年份2015年的ROIC为8.07%，投资回报也较好。公司历史上的财报相对一 般。 财报体检工具显示： 据证券之星公开数据整理，近期新宝股份（002705）发布2025年中报。截至本报告期末，公司营业总收 入78.02亿元，同比上升1.03%，归母净利润5.43亿元，同比上升22.79%。按单季度数据看，第二季度营 业总收入39.68亿元，同比下降6.6%，第二季度归母净利润2.96亿元，同比上升9.84%。本报告期新宝股 份盈利能力上升，毛利率同比增幅1.46%，净利率同比增幅18.62%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率22.08%，同比增1.46%，净利率7.26%，同比增 18.62%，销售费用、管理费用、财务费用总计6.89亿元，三费占营收比8.83%，同比增5.53%，每股净资 产10.27元，同比增8.88%，每股经营 ...