小熊电器股份有限公司 关联交易管理制度 中国·佛山 二〇二五年十月 小熊电器股份有限公司 关联交易管理制度 第一章 总 则 第一条 为保证小熊电器股份有限公司（以下简称"公司"）与关联方之间发 生的关联交易符合公平、公正、公开的原则，确保公司关联交易行为不损害公司 和股东的利益，特别是中小投资者的合法权益，根据《中华人民共和国公司法》 《中华人民共和国证券法》《深圳证券交易所股票上市规则》（以下简称"《上市 规则》"）等相关法律、法规和规范性文件以及《小熊电器股份有限公司章程》（以 下简称"《公司章程》"）的规定，特制定本制度。 第二条 公司的关联交易是指公司或者其控股子公司与公司关联人发生的转 移资源或义务的事项。 第二章 关联人和关联交易的范围 第三条 公司应参照《上市规则》及深圳证券交易所其他有关规定，确定公 司关联人名单，并及时予以更新，确保关联人名单真实、准确、完整。 公司及公司的控股子公司在发生交易活动时，相关责任人应当仔细查阅关联 人名单，审慎判断是否构成关联交易。如果构成关联交易，应当在各自权限内履 行审批、报告义务。 第四条 公司的关联人包括关联法人和关联自然人。 具有下列情形之一的法人或者 ...

小熊电器股份有限公司 证券投资、期货、衍生品交易及委托理财管理制度 中国·佛山 二〇二五年十月 小熊电器股份有限公司 证券投资、期货、衍生品交易及委托理财管理制度 第一章 总则 第一条 为规范小熊电器股份有限公司（以下简称"公司"）的证券投资及衍 生品交易相关信息披露行为，防范投资风险，强化风险控制，保护投资者的权益 和公司利益，根据《中华人民共和国证券法》《深圳证券交易所股票上市规则》 《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》和 《深圳证券交易所上市公司自律监管指引第 7 号——交易与关联交易》等法律、 法规、规范性文件以及《小熊电器股份有限公司章程》的有关规定，制定本制度。 第二条 本制度适用于公司及其所属子公司（包括全资子公司和控股子公司） 的证券投资、期货、衍生品交易及委托理财行为，但作为公司或其控股子公司主 营业务的期货、衍生品交易及委托理财行为除外。 第三条 本制度所述的证券投资，包括新股配售或者申购、证券回购、股票 及存托凭证投资、债券投资以及深圳证券交易所（以下简称"深交所"）认定的 其他投资行为。 本制度所述期货交易，是指以期货合约或者标准化期权合约为交易标的 ...

第一章 总则 第一条 为了规范公司融资和对外担保管理，有效控制公司融资风险和对 外担保风险，保护公司财务安全和投资者的合法权益，根据《中华人民共和国公 司法》、《中华人民共和国证券法》等法律、行政法规和规范性文件及《公司章程》 的相关规定，制定本制度。 第二条 本制度所称融资，是指公司向以银行为主的金融机构进行间接融 资的行为，主要包括综合授信、流动资金贷款和固定资产贷款、信用证融资、票 据融资和开具保函等形式。 小熊电器股份有限公司 融资与对外担保管理制度 中国·佛山 二〇二五年十月 小熊电器股份有限公司 融资与对外担保管理制度 公司直接融资行为不适用本制度。 第三条 本制度所称对外担保，是指公司及其控股子公司以第三人身份为 他人提供保证、抵押、质押或其他形式的担保，包括公司为其控股子公司提供的 担保。控股子公司为公司合并报表范围内的法人或其他组织提供担保的，公司应 当在控股子公司履行审议程序后及时披露；控股子公司为公司合并报表范围外的 法人或其他组织提供担保的，视同公司提供担保。 公司为自身债务提供担保不适用本制度。 第四条 公司融资及对外提供担保应遵循慎重、平等、互利、自愿、诚信 原则。控股股东及其他关 ...

小熊电器股份有限公司 重大经营与投资决策管理制度 中国·佛山 二〇二五年十月 小熊电器股份有限公司 重大经营与投资决策管理制度 第一章 总则 第一条 为规范公司的重大经营及投资决策程序，建立系统完善的重大经营 及投资决策机制，确保决策的科学、规范、透明，有效防范各种风险，保障公司 和股东的利益，根据有关法律、法规及《公司章程》的规定，制定本制度。 第二条 重大经营与投资决策管理的原则： （一）遵守国家法律、法规，符合国家产业政策； （二）符合公司发展战略及经营规划，突出公司主营业务； （三）严格执行决策程序，科学决策，规范管理，控制风险。 1 （一）购买或处置固定资产的事项； （二）收购、出售、置换股权、实物资产或其他资产； （三）租入、租出资产； （四）对原有生产经营设备的技术改造； （五）对原有生产经营场所的扩建、改造； （六）签订专利权、专有技术、商标权或产品的许可使用协议； （七）转让或受让研究与开发项目； （八）对外投资（含委托理财、委托贷款等）； （九）债权、债务重组； （十）董事会或股东会认定的其他重大经营及投资事项。 第五条 重大经营及投资事项中涉及关联交易时，按照公司有关关联交易的 决策制度 ...

第三条 本制度所指年报信息披露重大差错包括年度财务报告存在重大会计 差错、其他年报信息披露存在重大错误或重大遗漏、业绩预告或业绩快报存在重 大差异等情形。 第一条 为了提高公司的规范运作水平，增强信息披露的真实性、准确性、 完整性和及时性，提高年报信息披露的质量和透明度，根据《中华人民共和国证 券法》《上市公司信息披露管理办法》《公开发行证券的公司信息披露内容与格式 准则第 2 号——年度报告的内容与格式》《深圳证券交易所股票上市规则》等法 律、法规、规范性文件以及《小熊电器股份有限公司章程》（以下简称"《公司章 程》"），结合公司实际情况，制订本制度。 年报信息披露重大差错责任追究制度 第一章 总 则 小熊电器股份有限公司 年报信息披露重大差错责任追究制度 中国·佛山 二〇二五年十月 第二条 本制度所指责任追究制度是指年报信息披露工作中有关人员违反监 管规则、不履行或者不正确履行职责、义务或出于其他个人原因，造成年报信息 披露发生重大差错，对公司造成重大经济损失或造成不良社会影响时的追究与处 理制度。 小熊电器股份有限公司 1 1.违反《中华人民共和国公司法》《中华人民共和国证券法》《企业会计准则》 和《企 ...

2、本次解除限售股份的上市流通日：2025年11月3日。 证券代码：002959 证券简称：小熊电器 公告编号：2025-060 小熊电器股份有限公司 关于 2022 年股票期权与限制性股票激励计划首次授予限制性股票 第三个解除限售期解除限售股份上市流通的公告 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、2022年股票期权与限制性股票激励计划（以下简称"本激励计划"）首 次授予限制性股票第三个解除限售期符合解除限售条件的激励对象5人，解除限 售数量为3.30万股，占小熊电器股份有限公司（以下简称"公司"）总股本的0.021%； 2、2022 年 8 月 30 日至 2022 年 9 月 8 日，公司通过内部公示栏对本次激励 计划中涉及的激励对象姓名和职务进行了公示。在公示期内，公司监事会未收到 任何个人或组织对公司本激励计划激励对象提出的异议。2022 年 9 月 9 日，公 司披露了《监事会关于公司 2022 年股票期权与限制性股票激励计划首次授予激 励对象名单的核查意见及公示情况说明》。 3、2022 年 9 月 15 日，公司召开 2 ...

Core Insights - The article discusses the rise and challenges faced by Bear Electric, a company known for its small appliances, particularly its yogurt maker, which gained popularity among young consumers seeking a refined lifestyle [1][2]. Group 1: Product Quality Issues - Bear Electric has faced increasing criticism regarding product quality, with reports of malfunctions and safety hazards, including instances of products exploding [2][12]. - Positive reviews exist, highlighting the aesthetic appeal and practicality of some products, but these are overshadowed by numerous negative experiences shared by consumers [3][4][5]. - Specific complaints include malfunctioning blenders, leaking tea machines, and exploding kettles, raising significant safety concerns among users [7][10][13][14]. Group 2: Financial Performance - In 2022, Bear Electric reported a total revenue of approximately 4.118 billion yuan, a year-on-year increase of 14.18%, with a net profit of about 386 million yuan, reflecting a substantial growth of 36.31% [17]. - However, growth slowed in 2023, with revenue increasing by only 14.43% to 4.712 billion yuan, while net profit growth decelerated to 15.24% [17]. - The 2024 financial report indicated a mere 0.98% increase in revenue to 4.758 billion yuan, with net profit plummeting by 35.37% to 288 million yuan, marking the largest decline since the company went public [17][18]. Group 3: Market Performance and Stock Price - Bear Electric's stock price has seen a significant decline, dropping approximately 70% from its peak, with a historical low of 35 yuan per share recorded in September 2024 [24]. - Despite a reported revenue increase in the first half of 2025, the market reacted negatively, with stock prices falling over 7% on the day of the earnings report [24]. - The company's high marketing expenses relative to research and development have raised concerns about its ability to maintain competitive advantages in a saturated market [22][23]. Group 4: Management and Investor Sentiment - The company has faced scrutiny due to insider selling, with executives reducing their holdings, which has further eroded investor confidence [25][26]. - The ongoing quality issues and management's inability to address core operational challenges may lead to deeper financial difficulties in the future [27].

Core Viewpoint - The article discusses the challenges faced by Bear Electric, highlighting quality issues and declining consumer trust, which have impacted the company's market performance and stock price significantly [1][32][41]. Group 1: Product Quality Issues - Bear Electric initially gained popularity with its yogurt maker, appealing to young consumers seeking affordable and functional small appliances [1]. - Despite positive reviews for some products, there are numerous complaints regarding product quality, including malfunctioning and safety hazards, such as appliances exploding [10][24][25]. - Specific examples include complaints about the soy milk maker not blending beans properly, a tea maker arriving damaged, and a rice cooker emitting smoke [12][15][18][21]. Group 2: Financial Performance - In 2022, Bear Electric reported a revenue of approximately 4.118 billion yuan, a year-on-year increase of 14.18%, with a net profit of about 386 million yuan, up 36.31% [33]. - However, growth slowed in 2023, with revenue increasing by only 14.43% to 4.712 billion yuan, while net profit growth decelerated to 15.24% [33]. - The 2024 financial report showed a mere 0.98% revenue increase to 4.758 billion yuan, with a significant net profit decline of 35.37% to 288 million yuan, marking the largest drop since the company went public [33][34]. Group 3: Stock Market Performance - Bear Electric's stock price has fallen approximately 70% from its peak, reaching a historical low of 35 yuan per share in September 2024 [41]. - Despite a reported increase in revenue and profit in the first half of 2025, the market reacted negatively, with stock prices dropping over 7% on the day of the earnings report [41]. - The company's stock performance has been further pressured by insider selling, raising concerns among investors about the company's future prospects [43][45].

Core Insights - The 138th Canton Fair showcases innovative products that reflect the high-quality development of China's foreign trade, featuring advanced technologies and "specialized, refined, distinctive, and innovative" enterprises [1][3]. Group 1: Technological Innovations - AI-powered translation earphones and air purifiers are prominent at the fair, highlighting the integration of AI technology in consumer products [3][4]. - A total of 353,000 smart products are exhibited, providing a technological feast for global buyers [3]. - Companies like iFlytek are leveraging the Canton Fair to expand their international market presence, with products like translation machines and AI recording pens gaining traction in countries such as the USA, South Korea, and Japan [3]. Group 2: Product Highlights - The fair features a variety of innovative products, including a micro electromagnetic pump suitable for household appliances and a lightweight hook capable of lifting 20 tons while weighing only 5 kilograms [10][11]. - Shenzhen Huaxing Hengtai Pump Valve Co., Ltd. showcases a range of micro pump products, aiming to penetrate the European and American markets [7]. - The introduction of multifunctional AI products, such as an AI air purifier that provides emotional companionship, demonstrates the trend towards integrating AI into everyday devices [4]. Group 3: Market Expansion and Opportunities - The fair serves as a crucial platform for companies to connect with high-quality global buyers, with significant orders anticipated, such as a $950,000 order from a new German client [10]. - Companies are focusing on innovative designs and precise market insights to expand their international presence, as seen with products like the dual-cover electric steamer from Xiaoxiong Electric [11]. - The event highlights the shift of traditional manufacturing companies towards AI and high-tech solutions, exemplified by the introduction of delivery and security robots by Taiyada Industrial Co., Ltd. [10].

Core Insights - The recognition of Xiaoxiong Electric as a "Provincial Green Factory" in Guangdong reflects the company's commitment to sustainable development and positions it as a leader in green manufacturing within the province [1][4]. Summary by Sections Green Manufacturing Recognition - Xiaoxiong Electric has been awarded the title of "Provincial Green Factory" in Guangdong, highlighting its advanced practices in green manufacturing systems [1][4]. - This recognition is a testament to the company's long-term commitment to sustainable development and serves as a model for high-quality growth in the small home appliance industry and the broader manufacturing sector [4]. Certification and Evaluation - The "Green Factory" certification is considered a benchmark for evaluating a company's comprehensive green capabilities, based on strict national and provincial standards [5]. - Xiaoxiong Electric achieved a high score of 101.05 in the evaluation, demonstrating its leading position in high-quality development [5]. - The evaluation criteria included land use efficiency, clean production, waste resource utilization, and low-carbon energy consumption, all of which Xiaoxiong Electric met or exceeded [5]. Comprehensive Green Strategy - The company's green development strategy integrates management systems, product R&D, smart manufacturing, clean energy, and energy-saving measures throughout the production chain [6]. - Xiaoxiong Electric has obtained multiple certifications, including ISO9001 and ISO14001, and has implemented a green factory management system to enhance environmental performance [6]. Product Innovation and Lifecycle Management - The company focuses on developing low-carbon products, with over 90 product categories and more than 1,000 models aimed at providing energy-efficient and environmentally friendly solutions [7]. - Xiaoxiong Electric is actively conducting carbon footprint assessments for its products to reduce energy consumption during their usage phase [7]. Smart Manufacturing and Resource Efficiency - The company has established five smart manufacturing bases covering approximately 580,000 square meters, utilizing a flexible supply chain enabled by 5G technology to minimize resource waste [7]. - Advanced manufacturing techniques, such as micro-lubrication in mold processing and automated inspection in electronic manufacturing, contribute to reducing pollution and improving product quality [7]. Clean Energy Initiatives - Xiaoxiong Electric is investing in clean energy projects, including solar power generation at its production bases, with a projected solar energy output of 5.4674 million kWh in 2024 [8]. - The company has achieved a cumulative carbon reduction of 1,364.35 tons of CO2 equivalent over the past three years through various energy efficiency measures [8]. Long-term Vision and Goals - The recognition as a "Provincial Green Factory" marks a milestone for Xiaoxiong Electric and sets the stage for its future initiatives [9]. - The company has outlined a long-term green development plan for 2025-2030, focusing on regulatory compliance, energy efficiency, and reducing reliance on non-renewable energy sources [9]. - Xiaoxiong Electric aims to enhance its management systems, lower energy consumption per product, and strengthen its position as a key player in China's green manufacturing transformation [9].