| 证券代码：002918 | 证券简称：蒙娜丽莎 | 公告编号：2025-031 | | --- | --- | --- | | 债券代码：127044 | 债券简称：蒙娜转债 | | 蒙娜丽莎集团股份有限公司 关于蒙娜转债预计触发转股价格向下修正条件的提示性公告 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： 5、本次预计触发转股价格修正条件的期间从 2025 年 5 月 1 日起算，自 2025 年 5 月 1 日至 2025 年 5 月 19 日，蒙娜丽莎集团股份有限公司（以下简称"公司"）股票在连续 30 个交易日中已有 10 个交易日的收盘价不高于当期转股价格 85%，预计触发转股价格向 下修正条件。若触发转股价格修正条件，公司将按照深圳证券交易所（以下简称"深交所"） 相关规定及募集说明书的约定及时履行后续审议程序和信息披露义务。 一、可转换公司债券基本情况 （一）发行情况 经中国证券监督管理委员会《关于核准蒙娜丽莎集团股份有限公司公开发行可转换公 司债券的批复》（证监许可[2021]2510 号）核准，公司于 2021 年 8 月 ...

2024 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、本次股东大会无否决或变更议案的情况。 2、本次股东大会不涉及变更前次股东大会决议的情况。 | 证券代码：002918 | 证券简称：蒙娜丽莎 | 公告编号：2025-030 | | --- | --- | --- | | 债券代码：127044 | 债券简称：蒙娜转债 | | 蒙娜丽莎集团股份有限公司 3、本次股东大会以现场投票、网络投票相结合的方式召开。 一、会议的召开和出席情况 （一）会议召开情况 1、会议召开的日期、时间： （1）现场会议召开时间：2025 年 5 月 16 日（星期五）下午 14:00 （2）网络投票时间： ①通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 16 日上午 09:15-9:25、9:30-11:30，下午 13:00-15:00。 ①通过深圳证券交易所互联网投票系统投票的开始时间为 2025 年 5 月 16 日上午 9:15 至下午 15:00 期间的任意时间。 2、会议召开方式：本次股东大会采用现场表决 ...

北京市朝阳区建外大街丁 12 号英皇集团中心 8、9、11 层 8/9/11/F, Emperor Group Centre, No.12D, Jianwai Avenue, Chaoyang District, Beijing, 100022, P.R.China 电话/Tel.: 010-50867666 传真/Fax: 010-56916450 网址/Website: www.kangdalawyers.com 北京 西安 深圳 海口 上海 广州 杭州 沈阳 南京 天津 菏泽 成都 苏州 呼和浩特 香港 武汉 郑州 长沙 厦门 重庆 合肥 宁波 济南 昆明 南昌 北京市康达律师事务所 关于蒙娜丽莎集团股份有限公司 2024 年度股东大会的法律意见书 康达股会字【2025】第 0209 号 致：蒙娜丽莎集团股份有限公司 北京市康达律师事务所（以下简称"本所"）接受蒙娜丽莎集团股份有限公司（以 下简称"公司"）的委托，指派本所律师参加公司 2024 年度股东大会（以下简称"本次 会议"）。 本所律师根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人 民共和国证券法》（以下简称"《证券法》"）、 ...

Core Insights - The mailbox near the Mona Lisa at the Louvre serves as a unique emotional conduit for visitors, allowing them to express their admiration and feelings towards the artwork [1][2] - The mailbox symbolizes the deep connection between art and human emotions, showcasing how art transcends time and space [2] Group 1: Emotional Connection - Visitors from diverse backgrounds leave flowers, letters, and poems in the mailbox, each representing genuine emotions and personal stories related to the Mona Lisa [1] - The letters and poems reflect a range of sentiments, from love stories to artistic appreciation, highlighting the personal significance of the artwork to individuals [1] Group 2: Artistic Significance - The Mona Lisa is not just a painting but a symbol of spirit and emotional expression, captivating audiences for centuries with its mystery and elegance [2] - The mailbox enhances the viewer's experience by creating a tangible connection to the artwork, allowing for a deeper understanding and appreciation of art [2] Group 3: Future Implications - The mailbox acts as a time capsule, preserving the emotions and stories of people from around the world, and will continue to witness the enduring allure of the Mona Lisa [2]

Core Points - The article highlights the recognition of Lei Wanbing, a key figure in the Mona Lisa Group, as a "National Labor Model" for his contributions to technological innovation and production efficiency [1][3][5] - The achievement reflects the company's commitment to a talent-driven strategy and emphasizes the importance of technical innovation and talent development [5] Group 1: Recognition and Achievements - Lei Wanbing has rapidly advanced from a basic glaze worker to a significant technical backbone within the company since joining in 2007 [3] - Under his leadership, the glaze processing team achieved a quality pass rate of over 99.9%, enhancing the company's market competitiveness [3] - The labor model innovation studio he leads generated over 228.5 million yuan in economic benefits from new product development between 2023 and 2024 [3] Group 2: Company Strategy and Development - The recognition of Lei Wanbing is a testament to the Mona Lisa Group's talent-driven strategy and its focus on technological innovation and talent cultivation [5] - Since 2013, the company has established labor model innovation studios to optimize management mechanisms, professional training systems, and innovation processes, fostering creativity and innovation among employees [5] - The company aims to lead global ceramic technology innovation and become an international leader in large ceramic slabs [5]

Group 1: Company Strategy and Market Position - The company will maintain its strategic focus on large tiles, building materials, and home furnishings, without plans for a significant shift in direction [2] - The company is continuously optimizing its sales structure and enhancing the proportion of distribution channels, while emphasizing risk control and cash flow quality in its engineering business [2][3] - The ceramic industry is transitioning from a growth phase to a period of intense competition, characterized by a shift from incremental growth to a more challenging environment with reduced profit margins [3][4] Group 2: Financial Performance and Stock Management - The company reported a decline in performance in both the annual and quarterly reports, with a focus on improving operational efficiency and cost reduction to enhance profitability [3][4] - In 2022, the company executed a stock buyback, adhering to relevant regulations, and plans to continue this practice as necessary [3][4] - The company has made arrangements to adjust the conversion price of its convertible bonds, with 3.371 billion yuan still pending conversion [4] Group 3: Product Development and Innovation - The company emphasizes the importance of new product development and has plans to launch new products annually to meet customer demands [3][4] - The company is integrating advanced technologies, including AI and automation, into its production processes to enhance efficiency and innovation [4] Group 4: Industry Outlook and Challenges - The company acknowledges the challenges posed by the current real estate market downturn but remains optimistic about future opportunities driven by government policies aimed at stabilizing the market [3][4] - The industry is expected to see increased concentration, benefiting companies that prioritize innovation, quality, and management [3]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company achieved an annual revenue of 4.6 billion yuan, a year-on-year decrease of 22%. The net profit attributable to shareholders was 120 million yuan, down 53% year-on-year, while the net profit excluding non-recurring items was approximately 100 million yuan, down 58% year-on-year [2][4]. - In the first quarter, the company reported a revenue of 700 million yuan, a year-on-year decline of 16%, with a net profit of -60 million yuan, a decrease of 715% year-on-year, and a net profit excluding non-recurring items of approximately -70 million yuan, down 870% year-on-year [2][4]. - The company is expected to achieve net profits of approximately 200 million yuan and 250 million yuan in 2025 and 2026, respectively, corresponding to valuations of 18 and 15 times [6]. Summary by Sections Revenue and Profitability - The company’s revenue for 2024 is projected to decline by 22% due to weak terminal demand and intensified price competition, with tile sales expected to drop by 16% to approximately 120 million square meters. The average price of tiles is anticipated to decrease by about 7% year-on-year, cumulatively down 19% compared to 2021 [10]. - The gross margin is expected to continue its downward trend, decreasing from 29.5% in 2023 to 27.3% in 2024, with the distribution channel gross margin declining from 28.3% to 25.7% [10]. - The company’s revenue from distribution channels is expected to be around 3.5 billion yuan, down 7% year-on-year, while revenue from engineering channels is projected to be about 1.1 billion yuan, down 48% year-on-year [10]. Cost and Expenses - The company’s period expense ratio is expected to increase by 0.6 percentage points year-on-year, with management expenses rising by 1.9 percentage points due to weakened scale effects, while financial expenses are expected to decrease by 1.3 percentage points [10]. - The net profit margin for 2024 is projected to be approximately 2.7%, a decrease of 1.8 percentage points year-on-year [10]. Cash Flow and Financial Health - The company has shown strong cash flow performance, with cash collection ratios over the past three years being 1.12, 1.08, and 1.15. The cash flow from operating activities for 2024 is expected to be 810 million yuan [10]. - By the end of 2024, accounts receivable and notes are expected to be 700 million yuan, primarily due to a high retail proportion and a continuous contraction in the real estate business [10]. Industry Outlook - The supply exit in the tile industry is significant, with the production of building ceramics expected to be around 5.91 billion square meters in 2024, a year-on-year decrease of 12% [10]. - The number of large-scale enterprises in the industry has decreased from 1,048 in 2021 to 993 in 2024, with approximately 55 enterprises exiting the market [10].

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2025年4月26日 公司研究 行业低迷业绩承压,渠道结构持续优化 ―蒙娜丽莎（002918.SZ）2024 年年报及 2025 年一季报点评 要点 本报告来源于"慧博投研",请勿外传! 事件:公司发布 24 年年报及 25 年一季报.24 年公司实现营业收入/归母净利润/ 扣非归母净利润 46.3/1.2/1.0 亿元，同比-21.8%/-53.1%/-57.5%。25Q1 公司实 现营业收入/归母净利润/扣非归母净利润 6.9/-0.6/-0.7 亿元，同比-16.1%/转亏/ 转亏。 点评: 陶瓷行业低迷,公司经营承压:受房地产行业调整影响,市场竞争加剧,陶瓷行 业持续承压,24年全国陶瓷砖产量为 59.1 亿平方米,同比下降 12.2%。在较 为低迷的行业背景下,公司经营持续承压,24年营收及利润均同比下滑,2501 营收仍有所下滑并出现亏损。毛利率的下降、管理费用率的提升及资产减值损失 (应收坏账准备、存货跌价准备以及工抵房减值准备) 的增加,导致公司 24年 利润同比降幅明显高于收入，也导致 25Q1 出现亏损。 经销渠道占比提升,库存结构持续优化:公司稳健经营,加强经销,主动减少部 分经营风险较 ...

Core Viewpoint - Mona Lisa Group emphasizes corporate social responsibility, leading product innovation through technological breakthroughs, promoting quality transformation via standards, facilitating low-carbon transformation through a green revolution, and defining consumer value through service innovation, thereby achieving robust development and contributing to the high-quality development of China's building ceramics industry [1] Quality Leadership - Mona Lisa Group relies on a comprehensive quality control system that covers the entire lifecycle of products, ensuring quality foundations [2] - The company's testing center is CNAS certified and conducts thorough inspections of raw materials, in-process products, and finished goods, ensuring compliance with industry standards and achieving advanced levels in key indicators [2][4] - The integration of information technology optimizes the quality management system, ensuring product consistency and stability across four production bases [4] Technological Leadership - In 2007, Mona Lisa Group established the first domestic dry-pressing ceramic thin plate production line, marking a significant technological milestone [5] - The company has continuously broken size barriers in ceramic products, with innovations such as the 1.0mm ceramic thin plate in 2022 and the 9-meter super large plate in 2021, enhancing the market perception of high-end building decoration products [6] Green Transformation - The company is set to launch a zero-carbon ammonia-hydrogen combustion technology production line in September 2024, aiming to eliminate CO2 emissions and reduce carbon output by 5,200 tons annually [7] - The establishment of a large-scale distributed photovoltaic system at the production base is expected to save 32,700 tons of standard coal and reduce carbon emissions by 81,400 tons annually [9] Service Innovation - Mona Lisa Group has developed a comprehensive service delivery system that enhances user experience through a full-process quality delivery plan [10] - The implementation of intelligent customer service systems has improved service request handling efficiency by 40%, creating a positive feedback loop for quality upgrades [10][11]