Core Viewpoint - The announcement reveals that the controlling shareholder of Qingniao Fire (青鸟消防) has reduced its stake in the company, which may indicate a shift in shareholder dynamics but will not affect the company's control or governance structure significantly [1][2][3]. Shareholder Changes - The controlling shareholder, Beijing Peking University Qingniao Huanyu Technology Co., Ltd. (北大青鸟环宇), reduced its holdings by 2.75 million shares, representing 0.37% of the total share capital [1]. - Before the reduction, the shareholder held 164,006,469 shares, accounting for 22.29% of the total share capital. After the reduction, the holdings decreased to 161,256,469 shares, which is 21.89% of the total [1][2]. Previous Announcements - On February 13, 2025, Qingniao Fire disclosed a pre-announcement regarding the shareholder's plan to reduce its stake by up to 20 million shares within three months, with specific limits on the methods of reduction [3]. - The previous reduction plan included a reduction of 11.468 million shares through block trading from March 6 to March 11, 2025, which was consistent with the disclosed reduction plan [3]. Company Background - Qingniao Fire was listed on the Shenzhen Stock Exchange on August 9, 2019, with an initial public offering of 60 million shares at a price of 17.34 yuan per share, raising a total of 104.04 million yuan [4]. - The company conducted a non-public offering of 74,422,182 shares on November 3, 2022, at a price of 24.01 yuan per share, raising approximately 1.79 billion yuan [4]. Financial Distributions - The company has a history of cash dividends and capital increases, including a 2022 distribution of 3 yuan per 10 shares and a capital increase of 3 shares per 10 shares [5][6]. - The 2024 profit distribution plan includes a cash dividend of 2 yuan per 10 shares and a capital increase of 2 shares per 10 shares, which will increase the total share capital significantly [6].

青鸟消防股份有限公司 证券代码：002960 证券简称：青鸟消防 公告编号：2025-035 青鸟消防股份有限公司（以下简称"公司"）近日收到公司控股股东北京北大青 鸟环宇科技股份有限公司（以下简称"北大青鸟环宇"）的通知，在 2025 年 5 月 12 日至 2025 年 5 月 15 日期间，北大青鸟环宇通过集中竞价交易方式累计减持公司股 份 275 万股。具体情况公告如下： | 1．基本情况 | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 信息披露义务人 | 北京北大青鸟环宇科技股份有限公司 | 北京市海淀区海淀路 | 号燕园三区 | 号（北大青鸟楼三 | | | | | | | | | | | | | | | | | 5 | 30 | 住所 | 层 | 座） | C | | | | | | | | | | | | | | | ...

青鸟消防股份有限公司 证券代码：002960 证券简称：青鸟消防 公告编号：2025-032 青鸟消防股份有限公司 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内容的真实、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、本次股东大会以现场投票和网络投票相结合的方式召开。 （1）现场会议召开时间：2025 年 5 月 13 日（星期二）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具体时 间为：2025 年 5 月 13 日上午 9:15—9:25，9:30—11:30，下午 13:00—15:00；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 13 日上午 9:15，结束时间为：2025 年 5 月 13 日下午 15:00。 3、会议召开地点：北京市海淀区成府路 207 号北大青鸟楼 A 座四层会议室。 4、会议的召开方式：本次股东大会采用现场投票与网络投票相结合的方式 召开。 5、会议主持人：董事长蔡为民先生。 2、本次会议召开期间没有增加、否决或变更提案。 3、本次股东大会不涉及变更以往股东大会已通过的决 ...

致：青鸟消防股份有限公司 北京市中咨律师事务所 关于青鸟消防股份有限公司 2024 年年度股东大会的 法律意见书 二〇二五年五月 北京市西城区平安里西大街 26 号 新时代大厦 6-8 层 邮编：100034 电话：+86-10-66091188 传真：+86-10-66091616(法律部) 66091199(知识产权部) 网址：http://www.zhongzi.com.cn/ 北京市中咨律师事务所（以下简称"本所"）接受青鸟消防股份有限公司（以 下简称"公司"）委托，指派刘苏毅律师、李亚峰律师（以下简称"承办律师"） 担任青鸟消防股份有限公司2024年年度股东大会（以下简称"本次股东大会"） 的特别法律顾问。承办律师依据相关法律、法规、规章、其他规范性文件以及《青 鸟消防股份有限公司章程》（以下简称"公司章程"）的规定，出席本次股东大 会并出具本法律意见书。 承办律师已按照中国现行法律、法规的要求，对本次股东大会的真实性、合 法性进行查验并发表法律意见；本法律意见书中不存在虚假记载、误导性陈述及 重大遗漏。 本法律意见书仅供公司为进行本次股东大会之目的而使用，非经本所同意， 不得用作任何其他目的。承办 ...

青鸟消防股份有限公司 证券代码：002960 证券简称：青鸟消防 公告编号：2025-034 青鸟消防股份有限公司 第五届监事会第一次会议决议公告 同日，公司第五届监事会第一次会议在北京市海淀区成府路 207 号北大青鸟 楼 A 座四层会议室以现场及通讯相结合的方式召开。本次会议于公司 2024 年年度 股东大会选举产生第五届监事会成员后以电子邮件形式通知全体监事。会议应出 席监事 3 人，实际出席监事 3 人，全体监事一致推举公司监事王国强先生主持本 次会议。本次会议符合《中华人民共和国公司法》等法律法规以及《公司章程》 的有关规定。 二、监事会会议审议情况： 会议审议通过了如下议案： 本公司及监事会全体成员保证信息披露内容的真实、准确、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： 青鸟消防股份有限公司（以下简称"公司"）于 2025 年 5 月 13 日召开 2024 年 年度股东大会选举产生了第五届监事会非职工代表监事。公司非职工代表监事夏 涛先生、周敏女士与公司职工代表大会选举产生的职工代表监事王国强先生共同 组成公司第五届监事会（第五届监事会成员简历详见附件）。任期自公司 ...

本次独立董事专门会议审议通过了如下议案： 1、审议通过《关于聘任公司总经理的议案》 青鸟消防股份有限公司 第五届董事会独立董事专门会议 2025 年第一次会议决议 一、独立董事专门会议召开情况 青鸟消防股份有限公司（以下简称"公司"）第五届董事会独立董事专门会议 2025 年第一次会议于 2025 年 5 月 13 日在北京市海淀区成府路 207 号北大青鸟 楼 A 座四层会议室以现场及通讯相结合的方式召开，应出席独立董事 3 人，实 际出席独立董事 3 人。本次会议由独立董事陈钟先生主持。本次会议的召集、召 开程序符合《上市公司独立董事管理办法》《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》及公司 《独立董事制度》等有关规定。 二、独立董事专门会议审议情况 表决结果：3 票同意、0 票反对、0 票弃权。 经审议，独立董事认为：康亚臻先生具备《公司法》等法律法规及《公司章 程》所规定的上市公司高级管理人员任职资格，具备履行高级管理人员职责所必 须的工作经验和专业知识；未受过中国证监会及其他有关部门的处罚和证券交易 所纪律处分；不存在因涉嫌犯罪被司法机关 ...

青鸟消防股份有限公司 证券代码：002960 证券简称：青鸟消防 公告编号：2025-033 青鸟消防股份有限公司 第五届董事会第一次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确、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 青鸟消防股份有限公司（以下简称"公司"）于 2025 年 5 月 13 日召开 2024 年年度股东大会选举产生了第五届董事会非职工代表董事。公司非职工代表董事 蔡为民先生、倪金磊先生、郑重女士、康亚臻先生、丁慧平先生、陈钟先生、JESSE ZHIXI FANG 先生与公司职工代表大会选举产生的职工代表董事高俊艳女士共 同组成公司第五届董事会（第五届董事会成员简历详见附件）。任期自公司 2024 年年度股东大会审议通过之日起三年。 同日，公司第五届董事会第一次会议在北京市海淀区成府路 207 号北大青鸟 楼 A 座四层会议室以现场及通讯相结合的方式召开。本次会议于公司 2024 年年 度股东大会选举产生第五届董事会成员后以电子邮件形式通知全体董事。会议应 出席董事 8 人，实际出席董事 8 人，全体董事一致推举公司董事蔡为民先生主持 本次会议。 ...

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 14.00 CNY [2] Core Views - The company achieved a revenue of 4.923 billion CNY in 2024, a year-on-year increase of 0.98%, and a net profit of 353 million CNY, up 46.42% year-on-year [2] - The company is actively expanding into the fire safety robot sector and has seen steady growth in its industrial and commercial markets [2][7] - The report forecasts revenue growth for 2025 to 2027, estimating 5.182 billion CNY, 5.599 billion CNY, and 6.339 billion CNY respectively, with corresponding growth rates of 5.3%, 8.0%, and 13.2% [2][8] Financial Performance - In Q1 2025, the company reported a revenue of 883 million CNY, a year-on-year increase of 3.64%, and a net profit of 69 million CNY, up 12.37% year-on-year [2] - The company's gross margin is projected to be 37.63%, supported by vertical integration and scale advantages [7] - The company’s total assets are expected to grow from 8.887 billion CNY in 2024 to 11.596 billion CNY by 2027 [8] Market Expansion - The overseas business generated 703 million CNY in revenue in 2024, accounting for 14.27% of total revenue, with a year-on-year growth of 9.92% [7] - The company is enhancing its brand influence and market share through localized production and market development in North America and Europe [7] Product Development - The company is focusing on technological innovation in fire safety robots, integrating AI image analysis and intelligent control systems to enhance product capabilities [7] - The company’s traditional business segments are under pressure, but it is successfully navigating challenges through pricing strategies and supply chain optimization [7]

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 14.00 CNY [2][8]. Core Views - The company has successfully expanded its industrial and industry sectors, actively laying out plans for fire-fighting robots. The revenue for 2024 is reported at 4.923 billion CNY, a slight decrease of 0.98% year-on-year, while the net profit attributable to shareholders is 353 million CNY, down 46.42% year-on-year [2][8]. - The company is experiencing pressure in traditional business demand due to a sluggish real estate market, but it has managed to maintain a steady market share through pricing strategies and supply chain optimization [2][8]. - The overseas market is steadily expanding, with revenue from international operations reaching 703 million CNY, accounting for 14.27% of total revenue, marking a year-on-year increase of 9.92% [2][8]. - The company is showing strong resilience and growth potential in the commercial and industrial sectors, particularly in new economic applications such as renewable energy and data centers [2][8]. Financial Summary - For 2024, the total revenue is projected to be 4.923 billion CNY, with a year-on-year growth rate of -1.0%. The net profit attributable to shareholders is expected to be 353 million CNY, with a growth rate of -46.4% [2][8]. - The company forecasts revenue growth for 2025-2027 at 5.3%, 8.0%, and 13.2%, respectively, with net profit growth rates of 45.0%, 10.8%, and 19.9% [2][8]. - The earnings per share (EPS) are projected to be 0.70 CNY, 0.77 CNY, and 0.92 CNY for the years 2025, 2026, and 2027, respectively [2][8].

Group 1: Macro Insights - The Federal Reserve maintained interest rates and emphasized increasing uncertainty, with market expectations for rate cuts in June and July at 20% and 80% respectively, and a total of three cuts expected for the year [4] - The current economic environment presents a dual challenge of stagnation versus inflation, with short-term liquidity crises and long-term recession concerns [4] Group 2: TMT Sector Analysis - The TMT sector shows high levels of crowding, suggesting a cautious approach as the market may continue to favor lower-performing sectors [5] - The industry rotation model indicates that cyclical sectors like non-ferrous metals, steel, food and beverage, and building materials are in a strong trend with low crowding, while TMT remains crowded [5] Group 3: Coal Industry Overview - As of Q1 2025, the coal industry is experiencing a significant downturn, with coal prices returning to levels seen in early 2021, and the average price of Q5500 coal at 657 RMB/ton, down 111 RMB/ton since the beginning of the year [14][15] - The total profit of large coal enterprises in Q1 2025 was 803.8 billion RMB, a year-on-year decrease of 47.7%, with over half of coal companies reporting losses [17] - Major coal companies like China Shenhua and Shaanxi Coal have substantial cash reserves, indicating strong dividend-paying capabilities despite the industry's challenges [7][9] Group 4: Media Sector Performance - The media sector showed a significant recovery in Q1 2025, with notable performances in gaming and cinema, and a positive outlook for the year [22] - The film industry, particularly, is expected to benefit from a strong lineup of releases, although some major films underperformed [26] Group 5: Home Appliance and Electric Vehicle Industry - The electric two-wheeler market is expected to see growth driven by brand and channel advantages, with a projected increase in demand primarily from replacement sales [22][23] - The home appliance sector is focusing on expanding smart product offerings and enhancing international market presence, with significant revenue growth reported in smart home products [28] Group 6: Medical and Biopharmaceutical Sector - Companies like Xinhua Medical and Anjisi are showing steady growth, with Xinhua Medical reporting a slight increase in revenue and profit, while Anjisi's revenue grew by 25.14% in 2024 [36][38] - The biopharmaceutical sector is focusing on diversifying revenue streams and expanding into international markets, with significant growth expected in the coming years [35][40] Group 7: Investment Recommendations - Key recommendations include investing in leading coal enterprises like China Shenhua and Zhongmei Energy, as well as companies showing potential for recovery like Qinfa [19][20] - In the media sector, companies with strong content pipelines and market positions are recommended for investment [26]