Group 1 - Core viewpoint: Huazhong Securities issued a report on August 27, giving a "buy" rating to Riet (002790.SZ) based on its 2025 mid-year report [1] - Reason for rating: The company's gross margin experienced a slight decline, influenced by the depreciation of the US dollar affecting the financial expense ratio [1] Group 2 - Market context: The pet industry is experiencing a significant boom, with a market size of 300 billion yuan, leading to positive performance among listed companies in the sector [1]

Group 1: Financial Performance - In the first half of 2025, the company achieved operating revenue of approximately 1.9 billion yuan, a year-on-year decline of 19.49% [2] - The net profit attributable to shareholders was 51.67 million yuan, down 43.2% year-on-year [2] - In Q2 2025, operating revenue was approximately 1.08 billion yuan, a year-on-year decrease of 18%, with a net profit of 30.18 million yuan, down 6.88% year-on-year [2][3] Group 2: Market Challenges - The decline in revenue was primarily due to intense competition in the home bathroom industry and the impact of the real estate sector on new housing demand [3] - The domestic market, which accounts for 63.57% of total revenue, saw a decline of 27.76%, while the overseas market, representing 36.4% of total revenue, experienced a slight growth of 0.6% despite tariff impacts [3] Group 3: Profitability Factors - The decrease in net profit was attributed to a 1.83 percentage point decline in gross margin and a 1.27 percentage point increase in expense ratio [3] - The gross margin decline was mainly due to price factors, as intensified competition led to a slight decrease in product prices [3] Group 4: Strategic Initiatives - The company is actively expanding its offline channels and enhancing brand promotion efforts to improve market share [4] - Participation in national subsidy programs for home appliance upgrades is ongoing, with measures in place to increase product range eligible for subsidies [5] Group 5: Industry Regulations - The implementation of mandatory 3C certification for smart toilets on July 1, 2025, is expected to enhance consumer trust and improve the competitive landscape by phasing out non-compliant products [6] Group 6: Future Strategies - The company plans to focus on sales channel development and overseas market expansion while seeking new OEM partnerships [7] - Efforts will be made to stabilize revenue structure and enhance market share in high-end and overseas markets [8]

Group 1 - The core viewpoint of the article is that 瑞尔特 (002790.SZ) reported a significant decline in both revenue and net profit for the first half of 2025 compared to the previous year [1] Group 2 - The company achieved an operating income of 919.8 million yuan, representing a year-on-year decrease of 19.49% [1] - The net profit attributable to shareholders of the listed company was 51.67 million yuan, down 43.20% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 40.24 million yuan, reflecting a year-on-year decline of 49.89% [1] - The basic earnings per share were reported at 0.1236 yuan [1]

证券代码：002790 证券简称：瑞尔特 厦门瑞尔特卫浴科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：万元 非经营性资金占用 资金占 用方名 称 占用方与上 市公司的关 联关系 上市公司核 算的会计科 目 2025 年期 初占用资 金余额 2025 年 1-6 月占用累计 发生金额（不 含利息） 2025 年 1-6 月占用资金 的利息（如 有） 2025 年 1-6 月偿还累计 发生金额 2025 年上半 年度期末占 用资金余额 占用形 成原因 占用性质 控股股东、实际控制 人及其附属企业 非经营性占用 小计 - - - - 前控股股东、实际控 制人及其附属企业 非经营性占用 小计 - - - - 其他关联方及其附 属企业 非经营性占用 小计 - - - - 总计 - - - - 证券代码：002790 证券简称：瑞尔特 | 其他关联资金往来 | 资金往 来方名 | 往来方与上 市公司的关 | 上市公司核 算的会计科 | 2025 年期 初往来资 | 2025 年 1-6 月往来累计 | 2025 年 1-6 月往来资金 | 2025 年 1-6 月偿还累计 | 2 ...

厦门瑞尔特卫浴科技股份有限公司 2025 年半年度财务报告 厦门瑞尔特卫浴科技股份有限公司 2025 年半年度财务报告 （未经审计） 2025 年 8 月 1 厦门瑞尔特卫浴科技股份有限公司 2025 年半年度财务报告 厦门瑞尔特卫浴科技股份有限公司 2025 年半年度财务报告 一、审计报告 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：厦门瑞尔特卫浴科技股份有限公司 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 581,896,660.77 | 603,425,290.18 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 67,285,402.74 | 356,375,876.72 | | 衍生金融资产 | 0.00 | | | 应收票据 | 26,218,365.12 | 98,497,080.57 | | 应收账款 | 355,871,864.23 | 36 ...

证券代码：002790 证券简称：瑞尔特 公告编号：2025-028 本公司及监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、 误导性陈述或重大遗漏。 一、监事会会议召开情况 厦门瑞尔特卫浴科技股份有限公司 第五届监事会第七次会议决议公告 厦门瑞尔特卫浴科技股份有限公司（以下简称"公司"）第五届监事会第七 次（定期）会议（以下简称"会议"），由公司监事会主席召集。2025 年 8 月 15 日，以电子邮件方式向全体监事发出会议通知；2025 年 8 月 26 日 14 时，在厦 门市海沧区后祥路 18 号一楼会议室召开现场会议。 会议应出席的监事 3 人，实际出席会议的监事 3 人（其中，委托出席的监 事 0 人；以通讯表决方式出席会议的监事 0 人），超过半数。缺席会议的监事 0 人。会议由监事会主席崔静红主持，董事会秘书列席会议。 本次会议的召开符合《中华人民共和国公司法》《厦门瑞尔特卫浴科技股份 有限公司章程》《厦门瑞尔特卫浴科技股份有限公司监事会议事规则》的相关规 定，会议决议合法、有效。 二、监事会会议审议情况 1、审议议案一《关于 2025 年半年度报告全文及其摘要的议案》 表决结 ...

证券代码：002790 证券简称：瑞尔特 公告编号：2025-027 厦门瑞尔特卫浴科技股份有限公司 第五届董事会第七次会议决议公告 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 导性陈述或重大遗漏。 一、董事会会议召开情况 1 证券代码：002790 证券简称：瑞尔特 公告编号：2025-027 厦门瑞尔特卫浴科技股份有限公司（以下简称"公司"）第五届董事会第七 次（定期）会议（以下简称"会议"），由公司董事长召集。2025 年 8 月 15 日， 以电子邮件及电话方式向全体董事发出会议通知；2025 年 8 月 26 日上午 10 时， 在厦门市海沧区后祥路 18 号一楼会议室以现场结合通讯表决方式召开会议。 会议应出席的董事 9 人，实际出席会议的董事 9 人（其中，委托出席的董 事 0 人，以通讯表决方式出席会议的董事 4 人），缺席会议的董事 0 人。副董事 长王兵先生、董事邓光荣先生及独立董事罗立国先生、黄兴孪先生以通讯表决方 式出席会议。会议由董事长罗远良先生主持，财务总监、董事会秘书及全体监事 列席会议。 本次会议的召开符合《中华人民共和国公司法》《厦门瑞尔特卫浴 ...

Core Insights - The company reported a revenue of 920 million yuan for the first half of 2025, representing a year-on-year decline of 19.49% [1] - The net profit for the same period was 51.67 million yuan, down 43.20% year-on-year [1] - The company announced plans not to distribute cash dividends, issue bonus shares, or increase capital through reserves [1] Financial Performance - Revenue: 920 million yuan, down 19.49% year-on-year [1] - Net Profit: 51.67 million yuan, down 43.20% year-on-year [1] Dividend Policy - No cash dividends will be distributed [1] - No bonus shares will be issued [1] - No capital increase through reserves will occur [1]

厦门瑞尔特卫浴科技股份有限公司 2025 年半年度报告全文 厦门瑞尔特卫浴科技股份有限公司 2025 年半年度报告 2025 年 8 月 1 厦门瑞尔特卫浴科技股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人罗远良、主管会计工作负责人陈绍明及会计机构负责人(会计 主管人员)任小琴声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本报告涉及未来计划、业绩预测等前瞻性陈述，均不构成本公司对投资者 的任何实质性承诺，能否实现取决于市场状况变化等多种因素，存在很大的 不确定性，敬请投资者注意投资风险。 公司未来发展战略和经营目标的实现过程中，可能面临的风险因素的详细 情况，敬请您关注本报告第三节《管理层讨论与分析》之十《公司面临的风 险和应对措施》。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | | | 第一节 | 重要提示、目录和释义 | 2 | | -- ...

Core Viewpoint - The company is addressing investor inquiries regarding the development of a non-stick toilet coating invented by a research team from Huazhong University of Science and Technology, highlighting its existing solutions to prevent wall sticking in toilets [1] Group 1: Company Innovations - The company has developed a dual-cleaning patented technology that allows for two siphon flushes with a single water volume, effectively cleaning the pipes and preventing wall sticking [1] - The company also features a foam shield function that not only prevents water splashes but also provides physical isolation to reduce the likelihood of wall sticking [1] - An automatic water release function upon seating is implemented to effectively prevent dirt accumulation on the inner wall [1] Group 2: Collaboration Potential - The company acknowledges the suggestion for potential collaboration with the research team from Huazhong University to develop a non-stick toilet, indicating openness to industry-academic partnerships [1]