Core Viewpoint - The article discusses the collaborative efforts of various stakeholders to help foreign trade enterprises expand into the domestic market, enhancing their resilience against external uncertainties and improving their overall development certainty [1][3]. Group 1: Market Expansion Strategies - Foreign trade enterprises are adjusting their product direction to cater to domestic market demands, with a focus on optimizing financial services to support their transition [1][3]. - Companies like Xinbao Co., which has a significant portion of its sales from exports, are successfully leveraging e-commerce platforms to boost domestic sales, as seen during the Tmall "618" shopping festival [1][2]. - The domestic small home appliance market is expected to grow significantly, with companies planning to launch new products by 2025 [2]. Group 2: Government and Policy Support - The Ministry of Commerce is actively promoting the integration of domestic and foreign trade, providing support to foreign trade enterprises to help them navigate external challenges [3][4]. - Local governments are implementing policies to support foreign trade enterprises, such as including foreign trade products in consumption upgrade programs and organizing promotional events [4][5]. - E-commerce platforms are playing a crucial role in assisting foreign trade enterprises by providing financial support and facilitating their entry into the domestic market [5][6]. Group 3: Challenges and Recommendations - Foreign trade enterprises face challenges in adapting their products to meet domestic market needs, which may require significant time and resources [6][7]. - There is a need for enhanced financing support for foreign trade enterprises, particularly for small and medium-sized businesses, to help them manage the transition [7]. - Establishing communication platforms to connect foreign trade enterprises with domestic distribution channels is essential to reduce information gaps and facilitate market entry [7].

Summary of Conference Call for Xinbao Co., Ltd. Industry Overview - The small home appliance industry is closely related to consumer quality of life, evolving from functional products to those that are youthful, personalized, and experience-driven [3][10] - The domestic small appliance market has improved due to national subsidy policies, with retail performance showing an uptick in Q1 [7] Company Insights - **Impact of Tariffs**: The company faced significant disruptions in export orders to the U.S. due to tariff policies, particularly from early April to mid-May. Although conditions improved post-mid-May, uncertainties remain [2][4] - **Indonesian Base Development**: The second phase of the Indonesian base construction is progressing smoothly despite challenges. This base aims to cover more product categories and larger scale production [2][6] - **Export Strategy**: To mitigate high tariffs on small appliances, the company plans to rely more on Southeast Asia, particularly the Indonesian base, for exports [2][8] - **Market Demand**: Current consumer demand in the U.S. and Europe for small appliances is stable but lacks strong growth, influenced by inflation and cautious customer ordering [15][14] Financial and Operational Strategies - **Cost Management**: The company is cautious about high-cost channels like Douyin and emphasizes improving operational quality over short-term gains [12] - **R&D Initiatives**: The establishment of a research center in Shenzhen aims to drive technological innovation and address competitive pressures in the small appliance sector [11] - **Future Performance Expectations**: The company anticipates a stabilization of performance through overseas construction, with improvements expected in the latter half of 2025 and better prospects in 2026 as the Indonesian base matures [22] Market Dynamics - **Competitive Landscape**: The company believes that the release of domestic capacity will not significantly impact its competitive position due to a balanced customer and product layout [9] - **Consumer Trends**: There is a growing interest in integrating trendy elements into small appliances to enhance emotional value, reflecting a shift in consumer preferences [10] Additional Considerations - **Currency Fluctuations**: Recent currency fluctuations have had minimal impact on the company's operations, with ongoing monitoring in place [21] - **Talent Retention**: The company views talent mobility as normal and is focused on providing comprehensive development services to mitigate the risk of losing key personnel [13]

Core Viewpoint - The controlling shareholder, Dongling Group, has successfully completed a share buyback plan for Guangdong Xinbao Electric Co., Ltd., demonstrating confidence in the company's future growth and value [2][8]. Group 1: Share Buyback Plan - Dongling Group plans to increase its shareholding in the company by investing between RMB 30 million and RMB 50 million [2][4]. - The buyback period was set from April 10, 2025, to June 23, 2025, during which Dongling Group acquired a total of 3,584,300 shares, representing 0.4415% of the company's total share capital, for a total expenditure of RMB 50,003,759.80 [2][8]. - Prior to the buyback, Dongling Group held 350,934,879 shares, accounting for 43.2252% of the total share capital, and an additional 183,816,782 shares through its subsidiary, totaling 65.8662% [3][8]. Group 2: Implementation Details - The buyback was executed through the Shenzhen Stock Exchange, utilizing methods such as centralized bidding and block trading [5]. - Dongling Group committed to completing the buyback within the specified timeframe and refrained from selling any shares during the buyback period [6][11]. - The buyback aligns with relevant regulations, ensuring compliance with the Company Law, Securities Law, and other applicable guidelines [9][10].

特别提示： 证券代码：002705 证券简称：新宝股份 公告编码：（2025）040 号 广东新宝电器股份有限公司 关于控股股东增持公司股份计划实施完成的公告 公司控股股东广东东菱凯琴集团有限公司保证向本公司提供的信息内容真 实、准确、完整，没有虚假记载、误导性陈述或重大遗漏。 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。 公司控股股东广东东菱凯琴集团有限公司（以下简称"东菱集团"）计划自 本增持计划公告披露之日（2025年4月10日）起六个月内增持公司股份，拟增 持金额不低于人民币3,000万元，不高于人民币5,000万元。 2025年4月11日至2025年6月23日，东菱集团通过集中竞价交易方式累计增 持公司股份3,584,300股，占公司总股本的0.4415%，增持金额累计50,003,759.80 元。至此，东菱集团本次增持计划实施完成。 公司于2025年4月10日披露了《关于控股股东增持公司股份计划的公告》 （公告编码：2025-014号），公司控股股东东菱集团计划自本增持计划公告 ...

关于广东新宝电器股份有限公司 控股股东增持股份的 专项核查意见 国枫律证字[2025]AN102-1 号 GRANDWAY 北京国枫律师事务所 北京国枫律师事务所 Grandway Law Offices 北京市东城区建国门内大街 26 号新闻大厦 7 层 邮编： 100005 电话（Tel）: 010-88004488/66090088 传真（Fax): 010-66090016 北京国枫律师事务所 关于广东新宝电器股份有限公司 控股股东增持股份的 专项核查意见 国枫律证字[2025] AN102-1号 致: 广东新宝电器股份有限公司 北京国枫律师事务所接受广东新宝电器股份有限公司（以下称"新宝股份" 或"公司")的委托,就其控股股东广东东菱凯琴集团有限公司(以下称"东菱 集团"或"增持人"）于 2025年 4 月 11 日至 2025 年 6 月 23 日期间增持公司股 份(以下称"本次增持")相关事宜出具本专项核查意见。 对于本专项核查意见的出具,本所特作如下声明: 2. 本所及本所律师系根据本专项核查意见出具日以前已经发生或者存在的事 实和中国现行有效的法律、法规、规章及规范性文件发表专项核查意见;本 ...

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 ...

Investment Rating - The report maintains an "Outperform" rating for the home appliance industry [6] Core Insights - The home appliance sector is experiencing accelerated revenue growth, with a combined revenue growth rate of nearly 15% in Q1 2024. The white goods segment shows the best performance, benefiting from domestic subsidy policies and strong export demand [12][13] - The handheld smart imaging device industry, where the company operates, has a market size exceeding 40 billion, with a compound annual growth rate of 14.3% from 2017 to 2023, and is expected to surpass 40 billion in 2024 [2][33] - The company, Ying Shi Innovation, has become a leader in the global consumer-grade panoramic camera market with a market share of 67.2% in 2023, and is also among the top three in the action camera sector [1][40] Summary by Sections Investment Rating - The report rates the home appliance industry as "Outperform" [6] Company Overview - Ying Shi Innovation, established in 2015, focuses on the research, production, and sales of smart imaging devices, including consumer-grade panoramic cameras and action cameras. The company achieved a revenue of 55.7 billion in 2024, representing a year-on-year growth of 53.3% [1][18] - The company has a strong competitive advantage due to its advanced technology, product innovation, and comprehensive marketing system [3][42] Financial Performance - The company is projected to achieve a net profit of 9.9 billion in 2024, with a year-on-year increase of 19.9%, and a compound annual growth rate of 106.5% from 2017 to 2024 [1][18] - The revenue from consumer-grade imaging devices is expected to reach 47.9 billion in 2024, accounting for 86.6% of total revenue [20] Market Dynamics - The global handheld smart imaging device market has grown from 164.3 billion in 2017 to 364.7 billion in 2023, with a forecasted growth to over 400 billion in 2024 [2][33] - The market for action cameras reached 7.18 billion in 2022, while the global aerial drone market was valued at 4.85 billion [2][34] Competitive Landscape - The global consumer-grade panoramic camera market is concentrated, with Ying Shi Innovation holding a 67.2% market share, followed by Ricoh and GoPro [2][40] - In the professional-grade panoramic camera market, Ying Shi Innovation leads with a 61.4% market share [40] Strategic Initiatives - The company plans to expand its product range and enhance its marketing and channel coverage, particularly in new markets such as Europe [3][42] - The company has a diversified ownership structure, with a strong and experienced management team [28][31]

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]

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（ ...

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 ...