| 证券代码：002959 | 证券简称：小熊电器 公告编号：2025-005 | | --- | --- | | 债券代码：127069 | 债券简称：小熊转债 | 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部分限制性股票 回购注销完成暨不调整"小熊转债"转股价格的公告 1、本次回购注销限制性股票涉及人数为 2 人，回购注销限制性股票数量为 23,000 股（包括首次授予限制性股票 3,000 股和预留授予限制性股票 20,000 股）， 占公司总股本的 0.01%； 2、首次授予限制性股票的回购价格为 23.17 元/股，预留授予限制性股票的 回购价格为 31.16 元/股； 3、本次回购注销完成后，公司总股本由 157,061,674 股减至 157,038,674 股； 4、截至本公告披露日，上述限制性股票已在中国证券登记结算有限责任公 司深圳分公司完成回购注销手续； 5、本次回购注销部分限制性股票对可转债转股价格影响较小，因此转股价 格未做调整，转股价格仍为 53.20 元/股。 小熊电器股份有限公司（以下简称"公司"）于 2024 年 8 月 27 日和 12 月 26 ...

证券简称：小熊电器 证券代码：002959 债券简称：小熊转债 债券代码：127069 东莞证券股份有限公司 关于小熊电器股份有限公司 可转换公司债券不调整转股价格的 临时受托管理事务报告 债券受托管理人 （住所：东莞市莞城区可园南路一号） 二〇二五年三月 1 重要声明 根据《公司债券发行与交易管理办法》（以下简称"交易管理办法"）、《可 转换公司债券管理办法》（以下简称"管理办法"）、《小熊电器股份有限公司 与东莞证券股份有限公司关于小熊电器股份有限公司向不特定对象发行可转换 债券之受托管理协议》（以下简称"受托管理协议"）、《小熊电器股份有限公 司向不特定对象发行可转换公司债券募集说明书》《公司债券受托管理人执业行 为准则》等相关规定和约定，东莞证券股份有限公司（以下简称"东莞证券"） 作为受托管理人，以公开信息披露文件、发行人提供的相关资料等为信息来源编 制本临时受托管理事务报告。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为东莞证券所作的承诺 或声明。未经东莞证券书面许可，不得将本报告用作其他任何用途。 2 释义 3 在本报告 ...

证券代码：002959 证券简称：小熊电器 公告编号：2025-004 小熊电器股份有限公司 关于为子公司提供担保的进展公告 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。 一、担保情况概述 小熊电器股份有限公司（以下简称"公司"或"小熊电器"）于 2024 年 4 月 7 日、5 月 10 日分别召开第三届董事会第七次会议及 2023 年度股东大会，审议通过 了《关于 2024 年度对外担保额度的议案》，同意子公司申请授信及日常经营需要时 为其提供相应担保，2024 年度担保金额不超过人民币 260,000 万元，其中为资产负 债率超过 70%的子公司担保额度不超过 95,000 万元，为资产负债率 70%以下的子 公司担保额度不超过 165,000 万元。在上述额度范围内，公司与子公司之间以及子 公司与其他子公司之间可以互相提供担保。其中，公司为佛山市格皓电子技术有限 公司（以下简称"格皓电子"）提供 20,000 万元的担保额度。担保额度有效期为自 公司 2023 年度股东大会审议通过之日起至 2024 年度股东大会召开之日止，担保额 度在有效期内可循环 ...

Summary of Conference Call Company and Industry Overview - The conference call discusses the performance and challenges faced by the company, particularly in the small home appliance industry, during 2024. The year is characterized by intensified competition and a weakening demand chain [1][2][3]. Key Points and Arguments Competitive Landscape - The competition in the small home appliance sector has intensified, particularly between brands and platforms. Notably, the brand "Meidi" is re-entering the market, leading to significant price wars, especially online [1][2]. - In Q2 2024, competition among platforms, particularly with JD.com, is expected to escalate [1]. Impact of National Subsidies - National subsidies for small appliances began to affect the market in mid-2023, with the company participating in these subsidies starting in October 2023. The initial impact was neutral for the company due to its lower average product price of around 100 yuan, which results in a subsidy of only 15 to 20 yuan per product [2][3][4]. - The company has a limited number of products eligible for subsidies, with only 60 out of over 900 SKUs participating in the initial subsidy program [4][5]. Sales Performance and Seasonal Trends - The company anticipates challenges during the Q4 sales events (Double 11 and Double 12) due to high sales baselines from the previous year and ongoing price competition [6][7]. - Despite the challenges, the company expects Q4 performance to improve compared to Q3, aided by the national subsidies [10]. Product Categories and Contributions - The top five product categories for the company include health pots, rice cookers, humidifiers, electric kettles, and choppers, with the health pot contributing 8-9% to total sales. The rice cooker has shown a notable positive impact from subsidies [8][9]. Expansion and Strategic Initiatives - The company is exploring category expansion, particularly in less competitive segments like lifestyle and maternal-infant products. The acquisition of the brand "Roman" is part of this strategy, focusing on personal care products [12][13]. - The company aims to leverage Roman's strengths in OEM (Original Equipment Manufacturer) and expand its product offerings [14][15]. Export and International Market Strategy - The company has seen its export business grow, with OEM sales accounting for 50% of its export revenue. Southeast Asia, particularly Vietnam, is a key market for self-branded products [17][18]. - The company is also focusing on cross-border e-commerce, primarily through Amazon, targeting developed markets in Europe and North America [19]. Cost Management and Efficiency - The company has implemented cost-cutting measures in response to a competitive environment, focusing on reducing expenses while maintaining product quality and innovation [20][21]. - Marketing expenses are being scrutinized, particularly in relation to the performance of channels like Douyin (TikTok) [21][22]. Future Outlook - The company remains optimistic about its position in the small home appliance industry, despite current macroeconomic challenges. It believes it is undervalued and is positioned for recovery [25]. Other Important Insights - The company is actively managing its financial strategies, including potential adjustments to convertible bonds based on stock performance [24]. - There is a focus on enhancing digital capabilities and reducing consulting fees as part of overall cost management [22][23]. This summary encapsulates the key discussions and insights from the conference call, highlighting the company's strategic responses to market challenges and opportunities.

Summary of the Conference Call for Bear Electric Company Overview - **Company**: Bear Electric - **Industry**: Small Home Appliances Key Points and Arguments Market Challenges - Bear Electric faces significant challenges in 2024 due to price wars and weak demand, particularly impacted by JD.com's pricing mechanisms, leading to performance adjustments in Q3 and Q4, despite a stabilization in product prices [2][3] - The overall demand remains below historical levels, indicating a tough market environment for the company [2][3] National Subsidy Policy - The impact of national subsidy policies on Bear Electric is neutral, as only over 60 SKUs qualify for subsidies, which are relatively low compared to leading brands [2][4][5] - The average subsidy amount is around 15-20 RMB, which is insufficient for Bear Electric's lower-priced products [4][5] Strategic Response - Bear Electric is implementing a premiumization strategy to adapt to market changes, focusing on essential product categories and updating offerings to maintain consumer interest [2][7] - The company plans to expand into new subsidy categories and enhance product features to align with consumer preferences [7] Competitive Landscape - The competition remains fierce, with Midea expected to achieve double-digit growth in 2024 and maintain single-digit growth in 2025, indicating ongoing brand rivalry [2][9] - Platform competition has eased somewhat, particularly after JD.com introduced a more dynamic search algorithm that is not solely price-driven [2][9] Acquisition of Roman - Bear Electric acquired Roman, a personal care appliance company, to enhance its product line and leverage Roman's overseas customer base, focusing on OEM business rather than reviving its own brand [2][10][11] - Roman's revenue for 2023 was approximately 500 million RMB, with a significant portion coming from OEM operations [10][11] Sales and Marketing Strategies - The company is actively expanding its overseas market presence, particularly in Southeast Asia and through cross-border e-commerce in Europe and the U.S. [4][12][19] - Bear Electric's sales channels are diversified, with online platforms like Tmall and JD.com accounting for about 30% each, while overseas markets have seen nearly 40% growth [18][19] Product Performance - Key products include health pots, rice cookers, and wall-mounted fans, with the average price of rice cookers and blenders increasing due to feature upgrades [14][16] - The company is also exploring new categories such as pet products and water purification devices to capture emerging consumer needs [15][16] Cost Control Measures - Bear Electric has implemented cost-saving measures, particularly in marketing and management expenses, to enhance efficiency amid declining sales [25] - The company has focused on reducing controllable expenses while maintaining necessary R&D investments to improve user experience [25] Future Outlook - The company has not yet disclosed specific revenue growth targets for 2025, but it is expected that more information will be available in upcoming earnings reports [8][23] - The overall market environment remains challenging, with expectations of continued competition and cautious optimism regarding future sales performance [9][23] Additional Important Information - The company is cautious about its financial outlook and has not provided detailed projections for 2025 regarding revenue growth, gross margin, and profit margin [23] - Bear Electric's sales channel distribution includes self-operated online sales, JD.com, and distributors, with a significant focus on optimizing product selection and pricing strategies [24][20]

公司近日收到股东泰牛 1 号出具的《关于股份减持计划的告知函》。现将有关情 况公告如下： 一、股东的基本情况 证券代码：002959 证券简称：小熊电器 公告编号：2025-003 小熊电器股份有限公司 关于公司股东减持股份预披露公告 本公司股东厦门泰牛私募基金管理有限公司-景行振兴泰牛 1 号私募证券投 资基金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。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 持有小熊电器股份有限公司（以下简称"公司"）1,860,000 股（占公司剔除回购 专用证券账户持股数量的总股本比例 1.20%）的股东厦门泰牛私募基金管理有限公 司-景行振兴泰牛 1 号私募证券投资基金（以下简称"泰牛 1 号"）计划自本公告披 露之日起 15 个交易日后的 3 个月内通过集中竞价交易方式和/或大宗交易方式减持 公司股份合计不超过 1,860,000 股（占公司剔除回购专用证券账户持股数量的总股 本比例 1.20%）。 | 股东名称 | 股东情况 | 持有股份总数 | 占公司剔除回购专用 | | --- | --- | - ...

Group 1 - The core point of the article is that Bear Electric disclosed a decrease in the number of shareholders, indicating a potential shift in investor sentiment [1] - As of December 31, the number of shareholders was reported at 24,717, which is a decrease of 1,718 compared to the previous period, reflecting a month-over-month decline of 6.50% [1] - The latest stock price of Bear Electric is 45.03 yuan, showing a decline of 4.05%, with a cumulative drop of 2.21% since the concentration of shares began [1] Group 2 - The stock experienced 4 days of increases and 6 days of decreases during the reporting period [1]

| 证券代码：002959 | 证券简称：小熊电器 | 公告编号：2025-001 | | --- | --- | --- | | 债券代码：127069 | 债券简称：小熊转债 | | 2024 年第四季度可转换公司债券转股情况的公告 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： 转股期限：2023年2月20日至2028年8月11日 小熊电器股份有限公司 转股价格：53.20元/股 根据《深圳证券交易所股票上市规则》（以下简称"《股票上市规则》"）、 《深圳证券交易所上市公司自律监管指引第15号——可转换公司债券》的有关规 定，小熊电器股份有限公司（以下简称"公司"）现将2024年第四季度可转换公 司债券转股及公司股份变动的情况公告如下： 一、可转换公司债券发行上市概况 1、可转换公司债券发行情况 经中国证券监督管理委员会《关于核准小熊电器股份有限公司公开发行可转 换公司债券的批复》（证监许可〔2022〕1099号）核准，小熊电器股份有限公司 向社会公开发行了5,360,000张可转换公司债券，每张面值100元，期限6年，发行 总额为53,60 ...

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 关于小熊电器股份有限公司 2024 年第二次临时股东大会的 法律意见书 国枫律股字[2024]A0629 号 致：小熊电器股份有限公司（贵公司） 北京国枫律师事务所（以下简称"本所"）接受贵公司的委托，指派律师出席并见 证贵公司2024年第二次临时股东大会（以下简称"本次会议"）。 1 3．本所律师已经按照《股东大会规则》的要求，对贵公司本次会议所涉及的相关事 项进行了必要的核查和验证，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； 4．本法律意见书仅供贵公司本次会议之目的使用，不得用作任何其他用途。本所 律师同意将本法律意见书随贵公司本次会议决议一起予以公告。 本所律师根据《公司法》《证券法》《股东大会规则》《证券法律业务管理办法》 《证券法律业务执业规则》等相关法律、行政法规、规章、规范性文件的要求，按照律 师行业公认的业务标准、道德规范和勤勉尽责精神，对贵公司提供的有关文件和有关事 项进行了核查和验 ...

证券代码：002959 证券简称：小熊电器 公告编号：2024-101 小熊电器股份有限公司 2024 年第二次临时股东大会决议公告 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、本次股东大会召开期间，未出现否决议案的情形。 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 1、本次股东大会的召开时间 （1）现场会议召开时间：2024 年 12 月 26 日 14:30 （2）网络投票时间： 通过深圳证券交易所交易系统进行网络投票的时间为：2024 年 12 月 26 日 9:15-9:25、9:30-11:30 和 13:00-15:00； 通过互联网投票系统进行网络投票的时间为：2024 年 12 月 26 日 9:15-15:00。 3、会议召开方式：现场表决和网络投票相结合的方式 4、会议召集人：公司董事会 5、会议主持人：董事长李一峰先生 6、本次股东大会的召集和召开符合《公司法》《上市公司股东大会规则》及 《公司章程》的规定，会议的表决程序和表决结果合法有效。 7、股东在本次会议的出席情况： （1）股东 ...