证券代码：002899 证券简称：英派斯 公告编号：2025-023 （1）现场会议召开时间：2025 年 5 月 20 日（星期二）14:30。 （2）网络投票时间：2025 年 5 月 20 日（星期二），其中： 青岛英派斯健康科技股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1．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的决议。 一、会议召开和出席情况 （一）会议召开情况 1.会议召开时间： 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）的投票时间 为 2025 年 5 月 20 日上午 9:15 至下午 15:00 期间的任意时间； 通过深圳证券交易所交易系统进行网络投票的投票时间为 2025 年 5 月 20 日 上午 9:15-9:25，9:30-11:30，下午 13:00-15:00。 2.现场会议召开地点：山东省青岛市崂山区秦岭路 18 号国展财富中心 3 号 楼 7 层公司会议室。 3.会议召开方式：本 ...

Focus Review - The new consumption sector and low-altitude economy are gaining attention, with companies like Bee Low Altitude and Shangfei Aviation completing significant funding rounds [2][4][9] - The hard technology sector is seeing a surge in interest, particularly in robotics, with companies like Weifen Zhifei and Zivariable Robotics securing substantial investments [11][12][20] - The health sector is focusing on life sciences, with companies such as Ningmei Haowei and Sailu Medical completing notable funding rounds [24][29] New Consumption - Bee Low Altitude completed an angel round financing led by Alpha Community [4] - Tezeus, an electric bicycle manufacturer, secured 50 million yuan in Pre-A round financing led by Wuxi Huishan Science and Technology [5] - Zhonglaoye Fresh Spicy Sauce received several million yuan in angel round financing from various investors [7] - RED CHAMBER completed nearly 100 million yuan in A and A+ round financing [8] Hard Technology - Weifen Zhifei completed several million yuan in angel and angel+ round financing, led by Lightspeed [11] - Zivariable Robotics announced the completion of Pre-A+++ and A rounds, raising several hundred million yuan [12] - Jiangling Technology secured several hundred million yuan in B and B+ round financing [14][15] Health Sector - Ningmei Haowei announced the completion of several tens of millions in angel round financing [24] - Sailu Medical completed an A+ round financing led by Fosun Pharma [29] - Baiyiyuan Biotechnology received several million yuan in strategic financing from Kangzhe Pharmaceutical [26]

Core Viewpoint - The intelligent fitness industry in China is rapidly growing, driven by increasing health awareness and the demand for personalized and efficient fitness solutions. The market size is projected to reach 52.3 billion yuan in 2024, reflecting a year-on-year increase of 50.29% [1][13]. Industry Overview - Intelligent fitness, also known as smart fitness or AI fitness, combines the latest technology with traditional exercise to provide personalized fitness guidance through virtual coaches and smart devices [3][8]. - The user base for fitness activities in China has expanded significantly, with the number of fitness participants growing from 249 million in 2017 to an estimated 407 million by 2024, increasing the penetration rate from 17.8% to 28.8% [11][13]. Market Dynamics - The intelligent fitness market is characterized by a diverse range of hardware and software suppliers, including components like chips, sensors, and smart devices, as well as software solutions for data management and user interaction [8][20]. - The industry is supported by government policies aimed at promoting health and fitness, including initiatives to enhance smart sports equipment and facilities [5][20]. Competitive Landscape - The market is dominated by several key players, including Beijing Calorie Information Technology Co., Ltd., Le Dong Tian Xia (Beijing) Sports Technology Co., Ltd., and Qingdao Inpace Health Technology Co., Ltd., among others [15][17]. - Companies are leveraging technology innovation and brand development to capture market share, while new entrants are continuously emerging, altering the competitive dynamics [15][21]. Future Trends - The government is expected to continue increasing support for the intelligent fitness sector, with more policies to encourage healthy lifestyles and the integration of new technologies like 5G into fitness solutions [20][21]. - Cross-industry collaborations are anticipated to emerge, particularly with healthcare and rehabilitation sectors, creating new opportunities for growth and innovation within the intelligent fitness industry [21][22].

Investment Rating - The report indicates a positive outlook for the light industry, particularly in personal care and jewelry sectors, with several companies exceeding expectations in Q1 2025 [3][5][6]. Core Insights - The light industry shows a steady performance, with essential consumer goods outperforming overall trends. Companies like Baiya Co., Haoyue Care, and Chaohongji have reported better-than-expected results in Q1 2025 [3][5][6]. - The two-wheeler and motorcycle sectors are experiencing unexpected growth driven by new national standards and government subsidies, with companies like Ninebot and Chunfeng Power also exceeding expectations in Q1 2025 [3][5][12]. - Export demand remains strong, with product structure improvements and favorable exchange rates supporting profitability for companies like Jiangxin Home and Jiayi Co. in Q1 2025 [3][5][20]. - The home furnishing sector is benefiting from government subsidies, leading to a reduction in revenue decline, with leading companies like Kuka Home and Oppein showing slightly better-than-expected performance in Q1 2025 [3][5][20]. - The packaging industry maintains a stable structure, with leading companies increasing their market share, while metal packaging profitability is slightly under pressure [3][5][20]. - The paper industry has seen a continued decline in profitability in H2 2024, but Q1 2025 shows signs of recovery, with companies like Sun Paper benefiting from integrated supply chain advantages [3][5][20]. Summary by Sections Light Industry - Revenue recovery is evident in Q1 2025, with essential consumer goods showing stronger growth compared to optional and mass consumer goods. The revenue growth rates for essential consumer goods were 20.4% in Q1 2025, while mass consumer goods showed a decline of 0.9% [6][7][10]. - Profitability remains weaker than revenue growth, with net profits for essential consumer goods declining by 49.8% in Q3 2024, but showing a slight recovery of 1.5% in Q1 2025 [7][11]. Two-Wheeler & Motorcycle - The domestic two-wheeler market is benefiting from a transition to new national standards, with revenue growth rates of 50.9% in Q1 2025. Profit margins are improving due to product upgrades and reduced price competition [12][13][14]. - Export performance for motorcycles is also strong, with revenue growth of 32.2% in Q1 2025, driven by seasonal demand and product upgrades [14][19]. Exports - Export demand continues to be robust, with key categories like fitness equipment and insulated cups showing double-digit growth. Companies like Jiayi Co. and Hars have reported significant revenue increases of 67% and 22% respectively in Q1 2025 [20][23]. - The exchange rate has positively impacted export performance, with the USD/CNY exchange rate showing a slight depreciation, benefiting exporters [20][23]. Home Furnishing - The home furnishing sector is experiencing a narrowing of revenue decline due to government subsidies, with leading companies like Kuka Home and Oppein showing slight improvements in Q1 2025 [20][23]. Packaging - The packaging industry remains stable, with leading companies increasing their market share. However, profitability in metal packaging is facing slight pressure due to competitive pricing [20][23]. Paper Industry - The paper industry has faced declining profitability, but Q1 2025 shows signs of recovery, with companies like Sun Paper reporting improved performance due to supply chain advantages [20][23].

Core Viewpoint - The Chinese community sports industry has entered a new stage of high-quality development, characterized by accelerated facility network formation, innovative service model upgrades, and deep integration of the industrial ecosystem. The dual drivers of policy dividends and consumption upgrades have led to increased investment activity in the industry, with an expected investment amount of 19.596 billion yuan in 2024, representing a year-on-year growth of 14.73% [1][13]. Industry Overview - Community sports primarily serve community residents, utilizing community spaces and resources to organize sports activities that meet fitness needs, promote physical and mental health, and enhance community cohesion. It can be categorized into fitness-oriented, competition-oriented, and comprehensive service community sports [2]. Industry Development History - The development of the Chinese community sports industry has gone through four stages: 1. Spontaneous formation (1986-1995) 2. Government promotion (1995-1997) 3. Accelerated development (1997-2008) 4. Rapid development (2008-present) [4][5][6]. Industry Status - The community sports industry is experiencing high-quality development, with significant features such as accelerated facility network formation, innovative service model upgrades, and deep industrial ecosystem integration. The government has emphasized building a higher-level public service system for national fitness [13]. Industry Chain - The upstream of the community sports industry chain includes sports venue and facility construction, sports goods and equipment manufacturing, event IP and content production, and professional talent training. The midstream focuses on community sports service operations, while the downstream serves community residents and sports enthusiasts [8][9]. Key Enterprises - The competitive landscape of the community sports industry is characterized by the coexistence of diverse entities and gradually increasing market concentration. Leading companies like Zhongti Industry and Lisheng Sports leverage their financial and resource advantages to expand market share through brand chains and digital platforms [15][17]. Industry Development Trends 1. **Policy and Technology Dual Drive**: The community sports industry is accelerating towards smart and digital directions, with government policies promoting the construction of digital fitness service platforms and integrating advanced technologies like AI and IoT [21]. 2. **Diversified Service Scenarios**: Community sports services are evolving from single fitness functions to a composite ecosystem that includes health management, social interaction, and commerce, driven by rising health demands [22]. 3. **Market Penetration and Regional Balance**: Policies are increasingly favoring third- and fourth-tier cities and rural areas, becoming new growth points for the community sports industry, with a goal of achieving over 95% coverage of community sports facilities by 2025 [23].

投资者关系活动类 别 □特定对象调研 □媒体采访 □新闻发布会 □现场参观 □分析师会议 ☑ 业绩说明会 □路演活动 ☑ 其他（2025 年青岛辖区上市公司投资者网上集体接待 日活动） 活动参与人员 1、通过全景网"投资者关系互动平台"参与英派斯 2025 年青岛辖区上市公司投资者网上集体接待日暨 2024 年度 业绩说明会的投资者。 2、上市公司接待人员： 董事长、总经理：刘洪涛先生 独立董事：孟凡强先生 董事、财务负责人：梁春红女士 副总经理、董事会秘书：张瑞女士 保荐代表人：张兴林先生 时间 2025 年 5 月 12 日（星期一）下午 15:00~17:00 地点 公司通过全景网"投资者关系互动平台" （https://ir.p5w.net）采用网络远程的方式召开业绩说明会 形式 线上交流 交流内容及具体问 答记录 投资者提出的问题及公司回复情况 公司就投资者提出的问题进行了回复： 1、问：目前关税对订单的影响如何 今年有业绩指引 吗？ 答：投资者您好，目前公司国外销售业务收入约占总 营业收入 80%，国内销售业务收入约占总营业收入 20%。 国外销售业务中，美国出口销售业务收入约占总营业收入 三分之 ...

Group 1 - The company Qingdao Inpais Health Technology Co., Ltd. will participate in the "2025 Qingdao Listed Companies Investor Online Collective Reception Day and 2024 Annual Performance Briefing" [1] - The event will be held online on May 12, 2025, from 15:00 to 17:00 [1] - Key company representatives, including the chairman, general manager, independent director, financial officer, and board secretary, will engage with investors regarding governance, development strategy, operational status, and sustainable development [1]

证券代码：002899 证券简称：英派斯 公告编号：2025-022 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。 为进一步加强与投资者的互动交流，青岛英派斯健康科技股份有限公司（以 下简称"公司"）将参加由青岛证监局指导，青岛市上市公司协会与深圳市全 景网络有限公司联合举办的"2025 年青岛辖区上市公司投资者网上集体接待日 暨 2024 年度业绩说明会活动"，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）；或关注微信公众号（名称：全景财经）；或下载全景路演 APP，参与本次互动交流。活动时间为 2025 年 5 月 12 日（周一）15:00-17:00。 届时公司董事长、总经理刘洪涛先生，独立董事孟凡强先生，财务负责人梁春 红女士，副总经理、董事会秘书张瑞女士，保荐代表人张兴林先生将以在线交 流形式就公司治理、发展战略、经营状况和可持续发展等投资者关注的问题与 投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 特此公告！ 青岛英派斯健康科技股份有限公司 董事会 2025 年 ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **media industry** and highlights significant opportunities in **AI** and **AI glasses** for the second quarter and second half of 2025, particularly following positive guidance from President Xi Jinping regarding AI glasses, which may catalyze the industry [1][2] - The **gaming sector** is noted for its strong performance, with several companies exceeding market expectations in the first quarter of 2025 [2] Core Insights and Arguments - **AI and AI Glasses**: The media industry should pay attention to AI and AI glasses, with a projected market size of **4.71 billion** yuan by 2027, and **Inpaas** expected to generate over **90 million** yuan in net profit, contributing to a market capitalization increase of **2.8 billion** yuan [1][5] - **Film and Gaming Projects**: Anticipated summer releases include animated films like **"Three Kingdoms Starry Sky"** and **"Wang Wang Island,"** along with games such as **"One Ring"** and **"SLG 5,000 Years,"** which are expected to drive revenue for related companies [1][4] - **Fengjun Media**: Reported first-quarter revenue of **2.858 billion** yuan, a **4.7%** year-on-year increase, and a net profit of **1.135 billion** yuan, up **9.14%** year-on-year, with a dividend yield exceeding **6%** [1][8] - **Gaming Sector Performance**: The gaming sector reported a profit of **3.476 billion** yuan in Q1 2025, a **41.7%** increase year-on-year, with notable performances from companies like **Kying Network**, **Perfect World**, **ST Huayun**, and **Jibite** [1][11] Additional Important Insights - **Mergers and Acquisitions**: Fengjun Media's recent acquisition of **Xinchao** is expected to enhance overall efficiency and bargaining power, positively impacting future performance [1][9] - **Education Sector**: The education sector is highlighted for its strong domestic demand characteristics, with recommendations to focus on high-performance, high-dividend stocks like **Oriental Education**, which saw a **15%-35%** increase in spring enrollment [2][12] - **Doushen Education**: As the first AI+ education application stock in A-shares, its **AI class** product is expected to launch in Q2, potentially replacing online language courses and driving significant revenue growth [2][15][16] - **Market Dynamics**: The K12 education sector is advised to focus on AI-enabled education, with companies like **Doushen Education** and **Shengtong Co.** showing promise for future growth [2][14][17] This summary encapsulates the key points discussed in the conference call, providing insights into the media and gaming industries, as well as emerging opportunities in AI and education sectors.

Investment Rating - The report maintains a "Buy" rating for the company [6] Core Views - The company reported a revenue of 1.21 billion yuan for 2024, representing a year-on-year increase of 35.6%, and a net profit of 109 million yuan, up 23.8% [2][3] - The company is focusing on both international market dynamics and expanding its domestic market presence, with significant growth potential in China's fitness equipment market [4] - The company is actively pursuing a smart transformation by integrating AI technology into its product offerings, which includes 28 series of fitness equipment [5] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 1.21 billion yuan, with a year-on-year growth of 35.6%, and a net profit of 109 million yuan, reflecting a growth of 23.8% [2][3] - For Q1 2025, the revenue was 291 million yuan, showing a year-on-year increase of 21.9%, with a net profit of 14 million yuan, up 2.19% [2] Business Growth - The traditional business segment is experiencing steady growth, with commercial products accounting for 87.7% of revenue and overseas sales making up 78.7% [3] - The company is enhancing its OEM/ODM product offerings and has successfully launched over 10 new products [3] Market Potential - The domestic fitness market is expected to grow significantly, with China's fitness penetration rate at 5.37% as of 2023, compared to higher rates in the US, UK, and Germany [4] - The company aims to mitigate risks associated with international markets by tapping into the vast potential of the domestic market [4] Strategic Initiatives - The company is deepening its application of AI technology to create smart fitness solutions, positioning itself for future growth in the AI glasses sector [5] - The report forecasts revenue growth for 2025-2027 to be 1.31 billion, 1.64 billion, and 1.89 billion yuan, respectively, with net profits projected at 103 million, 144 million, and 181 million yuan [6][8]