中信建投证券股份有限公司关于火星人厨具股份有限公司 向不特定对象发行可转换公司债券保荐总结报告书 中信建投证券股份有限公司（以下简称"中信建投证券"、"保荐人"或"本 机构"）作为火星人厨具股份有限公司（以下简称"发行人"、"火星人"或"公 司"）2022 年向不特定对象发行可转换公司债券的保荐人，持续督导期限截至 2024 年 12 月 31 日。目前，持续督导期已经届满，中信建投证券根据《证券发 行上市保荐业务管理办法》《深圳证券交易所创业板股票上市规则》《深圳证券 交易所上市公司自律监管指引第 2 号——创业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 13 号——保荐业务》等有关法律法规规定， 出具本保荐总结报告书。 一、保荐人及保荐代表人承诺 1、保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误导 性陈述或重大遗漏，保荐人及保荐代表人对其真实性、准确性、完整性承担法律 责任。 2、本机构及本人自愿接受中国证监会对保荐总结报告书相关事项进行的任 何质询和调查。 3、本机构及本人自愿接受中国证监会按照《证券发行上市保荐业务管理办 法》的有关规定采取的监管措施。 二、保荐人基 ...

| 证券代码：300894 | 证券简称：火星人 | 公告编号：2025-035 | | --- | --- | --- | | 债券代码：123154 | 债券简称：火星转债 | | 火星人厨具股份有限公司 关于召开 2024 年年度股东大会的提示性公告 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。 火星人厨具股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日在巨潮资 讯网（http://www.cninfo.com.cn）上披露了《关于召开 2024 年年度股东大会的通 知》（公告编号：2025-020）。现将本次股东大会的有关事项再次提示如下： 一、 召开会议的基本情况 1、会议届次：2024 年年度股东大会 2、会议召集人：公司董事会 3、会议召开的合法、合规性：公司第三届董事会第二十五次会议审议通过 了关于召开本次股东大会的议案，本次会议的召集、召开程序符合有关法律、行 政法规、部门规章、规范性文件和《公司章程》的有关规定。 （2）网络投票时间： 通过深圳证券交易所（以下简称"深交所"）交易系统进行网络投票的具体 时间为：2025 ...

Group 1: Company Performance - Mars Man's total revenue for 2024 is approximately CNY 1.376 billion, maintaining the leading position in the integrated stove industry for four consecutive years [2] - The net profit attributable to ordinary shareholders of the listed company is CNY 11.1512 million, indicating short-term performance pressure [2] Group 2: Industry Outlook and Company Strategy - The integrated stove industry is significantly impacted by real estate cycle adjustments and changes in consumer demand, leading to notable pressure in 2024 [2] - Mars Man is committed to high-end and professional strategies, focusing on solving kitchen smoke issues and maintaining long-term R&D investments to strengthen its competitive edge [2] - The industry is transitioning towards high-quality development, driven by technological innovation and upgraded consumer demands [3] Group 3: Investment Activities - The company has invested CNY 198 million in collaboration with Xiamen Zongheng Jinding Private Equity Fund Management Co., Ltd. to establish a venture capital partnership [3] - The fund has completed financial investments in three companies, including Beijing Xingdong Jiyuan, without holding controlling stakes [3] - The company emphasizes risk management and close monitoring of investment projects due to the uncertainties associated with venture capital [3] Group 4: Disclosure Information - The investor relations activity did not involve any undisclosed significant information [3]

Summary of Marsman's Conference Call Company Overview - **Company**: Marsman - **Industry**: Integrated kitchen appliances, specifically focusing on integrated stoves Key Points and Arguments 1. **2024 Revenue Decline**: Marsman reported a 10.1% year-over-year decline in revenue for 2024, with integrated stove revenue down 37.94% due to a sluggish real estate market and consumer downgrade effects. However, offline direct sales increased by 84% due to government subsidies [2][4][5] 2. **Sales Channel Performance**: The company experienced significant declines in dealer and e-commerce revenues, down 23.3% and 51.8% respectively. Integrated stove sales volume decreased by 34%, with an average selling price reduction of 315 yuan. Water-washing product sales grew by 2%, but the average price also fell by 600 yuan [2][4][5][6] 3. **Cost Management**: Marsman saved over 60 million yuan through cost-cutting measures, but the reduction in sales, R&D, and management expenses did not fully offset the revenue decline, leading to a substantial drop in net profit [2][7] 4. **Market Share and Industry Challenges**: The integrated stove industry faced a 30% drop in retail sales and over 27% in retail volume in 2024. Marsman's market share fell from 12% to 11%, with increased competition and declining gross margins [2][8] 5. **Strategic Initiatives**: The company plans to overcome challenges through multi-category R&D, channel transformation, and product innovation, including launching new second-generation products and targeting the old housing renovation market [2][10] 6. **Investment in Robotics**: Marsman established the Qiongqing Super Fund to invest in the robotics and components industry, aiming to explore opportunities aligned with the Shenzhen Stock Exchange's acquisition and restructuring policies [2][15] 7. **Sales Performance in 2024**: The company achieved a revenue of 1.376 billion yuan in 2024, a 35.68% decline, with a net profit of 11.15 million yuan, down 95%. The first quarter saw a 15.4% revenue drop, with subsequent quarters showing over 42% declines [4][8] 8. **Future Market Strategy**: Marsman aims to capture the stock housing market through promotional campaigns and by enhancing customer engagement, targeting over 100,000 home visits in 2025 [10][20] 9. **Product Development Plans**: The company is focusing on new product categories, including dishwashers, and plans to enhance consumer experience and market penetration [13][20] 10. **Impact of Real Estate Market**: The downturn in the real estate sector has significantly pressured the integrated stove industry, particularly in lower-tier cities, prompting Marsman to strengthen its old-for-new business model [9][18] Additional Important Insights - **Cost Structure**: The average cost per unit for integrated stoves rose to approximately 3,000 yuan, while the cost for water-washing products decreased to about 3,490 yuan [7] - **Industry Trends**: The integrated stove market is experiencing a downward trend, with retail sales and volume both declining significantly. The market is expected to stabilize as government policies aim to support the housing market [9][12] - **Competitive Landscape**: The number of small integrated stove brands has decreased significantly, with Marsman's market share potentially increasing as weaker competitors exit the market [19] This summary encapsulates the critical aspects of Marsman's conference call, highlighting the company's current challenges, strategic responses, and future outlook in the integrated kitchen appliance industry.

火星人厨具股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 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。 火星人厨具股份有限公司（以下简称"公司"）于 2025 年 4 月 21 日召开第 三届董事会第二十五次会议和第三届监事会第十九次会议，审议通过了《关于使 用部分闲置募集资金进行现金管理的议案》，同意公司使用不超过人民币 20,000.00 万元闲置募集资金进行现金管理，自董事会审议通过之日起 12 个月 内有效。在上述额度和期限内，资金可循环滚动使用。 公司保荐机构对上述事项发表了明确同意的意见。具体内容详见公司在巨潮 资讯网（www.cninfo.com.cn）上披露的《关于使用部分闲置募集资金进行现金管 理的公告》（公告编号：2025-030）。 近日，公司使用部分闲置募集资金进行现金管理。现将有关情况公告如下： 一、 本次使用闲置募集资金进行现金管理的主要情况 单位：人民币万元 | 序 | 受托方 | 产品名称 | 收益类 | 投入金额 | 起始日 | 到期日 | 预期年 化收益 | | --- | --- | --- | --- | - ...

Investment Rating - The investment rating for the company is "Buy" and it is maintained [6]. Core Views - The company reported a significant decline in performance for Q1 2025, with revenue of 163 million yuan, a year-on-year decrease of 53.31%. The net profit attributable to the parent company was -54 million yuan, down 246.85% year-on-year, and the net profit after deducting non-recurring gains and losses was -0.56 million yuan, a decline of 264.55% year-on-year [4][6]. Summary by Sections Financial Performance - In Q1 2025, the company achieved revenue of 163 million yuan, a decline of 53.31% year-on-year. The net profit attributable to the parent company was -54 million yuan, down 246.85% year-on-year, and the net profit after deducting non-recurring gains and losses was -0.56 million yuan, a decrease of 264.55% year-on-year [4][6]. Market Conditions - The overall industry demand is weak, leading to a decline in revenue performance. The company's revenue drop is attributed to the dependence of integrated stoves on new home renovations, which are currently sluggish in the real estate market. The overall retail sales of the integrated stove industry in Q1 2025 were 2.5 billion yuan, down 34.5% year-on-year, with retail volume decreasing by 29.0% year-on-year [9]. Competitive Position - Despite the challenges, the company maintains a leading position in the integrated stove market, with a market share of 21.55% in online sales and 23.22% in offline sales for Q1 2025. The online sales share decreased by 2.15 percentage points year-on-year, while the offline sales share increased by 5.10 percentage points year-on-year [9]. Future Outlook - The company aims to overcome current challenges and return to growth, focusing on integrated stoves as its main business while nurturing dishwashers as a new growth point. The continuation of the old-for-new policy is expected to boost market demand and revenue growth [9]. Profitability - The gross margin for Q1 2025 was 40.18%, down 4.79 percentage points year-on-year, primarily due to intensified competition and a decline in average prices. The average online price for integrated stoves was 5,834 yuan, down 14.09% year-on-year, while the average offline price was 10,469 yuan, down 4.36% year-on-year [9]. Investment Projections - The company is projected to achieve net profits attributable to the parent company of 107 million yuan, 111 million yuan, and 117 million yuan for the years 2025, 2026, and 2027, respectively [9].

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Views - The company reported a revenue of 1.376 billion yuan in 2024, a year-on-year decline of 35.68%, with a net profit attributable to the parent company of 11.15 million yuan, down 95.49% year-on-year. The adjusted net profit was -2.95 million yuan, a decline of 101.10% year-on-year [2][6]. - In Q4 2024, the company achieved a revenue of 363 million yuan, down 36.15% year-on-year, with a net profit of -3.94 million yuan, a decline of 116.00% year-on-year, and an adjusted net profit of -11.80 million yuan, down 118.30% year-on-year [2][6]. - The decline in revenue is attributed to the weak real estate market, which has suppressed new demand, and a shift in consumer preferences towards more flexible and segmented products, impacting the integrated stove market [12][12]. - Despite the challenges, the company maintains its leading position in the integrated stove market, with a revenue of 1.165 billion yuan from integrated stoves, a year-on-year decline of 37.94%, while still holding the top position in online retail sales [12][12]. Summary by Sections Financial Performance - The company’s gross margin decreased by 3.96 percentage points to 43.03% in 2024, with the gross margin for integrated stove products at 44.07%, down 3.93 percentage points [12]. - The sales expense ratio increased by 5.49 percentage points to 27.73%, while the management expense ratio rose by 3.00 percentage points to 8.70% [12]. - The company reported an operating profit of -36.49 million yuan in 2024, a decline of 114.55% year-on-year [12]. Market Conditions - The overall integrated stove market faced significant challenges, with a total retail sales of 17.3 billion yuan in 2024, down 30.6% year-on-year [12]. - The online retail sales in the integrated stove market were 2.647 billion yuan, down 38.84% year-on-year, indicating pressure in both online and offline markets [12]. Future Outlook - The company is expected to maintain stable growth and operational performance, with projected net profits of 107 million yuan, 111 million yuan, and 117 million yuan for 2025, 2026, and 2027 respectively [12].

Financial Overview - The company's total operating revenue for Q1 2025 was 163 million, a year-on-year decrease of 53.31% [2] - The net profit attributable to shareholders was -54.16 million, a year-on-year decrease of 246.85% [2] - The net profit after deducting non-recurring items was -55.62 million, a year-on-year decrease of 264.55% [2] Profit and Cost Analysis - The gross profit margin was 40.18%, a decrease of 10.65 percentage points year-on-year [3] - The net profit margin was -33.3%, a decrease of 397.0 percentage points year-on-year [3] - Selling, general, and administrative expenses accounted for 67.92% of revenue, an increase of 139.6% year-on-year [3] Asset and Cash Flow Situation - The company's cash and cash equivalents were 57.2 million, a decrease of 62.57% compared to the same period last year [4] - Accounts receivable amounted to 8.9 million, a year-on-year decrease of 25.50% [4] - Interest-bearing liabilities were 50.7 million, a year-on-year decrease of 41.52% [4] - The net asset value per share was 3.1, a year-on-year decrease of 20.06% [4] - Operating cash flow per share was -0.2, a year-on-year decrease of 75.35% [4] Business Model and Financing Dividends - The company's performance is primarily driven by research and marketing [5] - Since its listing, the total financing amount has been 570 million, while total dividends paid have reached 977 million, resulting in a dividend-to-financing ratio of 1.71 [5]

数据四舍五入，查看更多财务数据>> 本次公司不分配不转赠。 一、主要会计数据和财务指标 | 名称 | 持有数量(万股) | 占总股本 | 增减情况 | | --- | --- | --- | --- | | | | 比例(%) | (万股) | | 海宁大宏投资合伙企业(有限合伙) | 5174.15 | 17.59 | -225.85 | | 海宁大有投资合伙企业(有限合伙) | 5159.52 | 17.55 | -240.48 | | 黄卫斌 | 3697.50 | 12.57 | 不变 | | 海宁融朴股权投资合伙企业(有限合伙) | 559.07 | 1.90 | -143.33 | | 董其良 | 535.00 | 1.82 | -180.32 | | 虞惠丽 | 480.63 | 1.63 | -24.37 | | 杭州金投智汇创业投资合伙企业(有限合伙) | 305.64 | 1.04 | 不变 | | 香港中央结算有限公司 | 263.29 | 0.90 | 5.88 | | 南方中证1000ETF | 122.71 | 0.42 | -12.87 | | 董长利 | 95.00 | 0.3 ...

截至2025年4月26日，火星人、浙江美大、亿田智能、帅丰电器四家集成灶上市企业2024年年报悉数出炉。无一例外，四家企业均交出了营收、净利润双降 的成绩单。 火星人营收同比暴跌35.7%，净利润仅剩千万元；浙江美大净利润缩水超76%；亿田智能与帅丰电器同样深陷营收腰斩、利润断崖式下滑的泥潭。这场"集体 跳水"背后，是集成灶行业进入"至暗时刻"的残酷现实，也表明行业到了需要转型求生的关键路口。 01 财务数据透视：行业进入"速冻期" 从核心财务指标看，四家企业的经营指标全面恶化，行业已从结构性调整滑向系统性危机。 | 企业名称 营业收入(亿元) | | | --- | --- | | 火星人 | 13.76 | | 浙江美大 | 8.77 | | 化田智能 | 7.03 | | 帅丰电器 | 4.29 | 数据可以用行业全面失速来总结，四家企业营收平均跌幅超40%，净利润平均缩水更是超过了80%。 对比三年前行业数据巅峰期，其中，火星人作为行业龙头，净利润仅剩2021年巅峰期（2.47亿元）的约4.5%；浙江美大连续三年营收下滑，2024年营收规模 较2021年的21.64亿元已蒸发超60%。季度环比数据显示 ...