浙江亿田智能厨电股份有限公司 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。 证券代码：300911 证券简称：亿田智能 公告编号：2025-036 特别提示 1、 本次股东大会不存在否决议案的情形。 债券代码：123235 债券简称：亿田转债 2、 本次股东大会不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、召开时间： （1）现场会议：2025 年 5 月 15 日（星期四）14:00 （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：2025 年 5 月 15 日上午 9:15-9:25，9:30-11:30 和 13:00-15:00；通过深圳证券 交易所互联网系统投票的具体时间为：2025 年 5 月 15 日上午 9:15 至下午 15:00 的任意时间。 2、召开地点：浙江省绍兴市嵊州市浦口街道浙锻路 68 号公司会议室 3、召开方式：现场表决结合网络投票 4、召集人：公司董事会 5、主持人：公司董事长孙伟勇先生 6、本次会议的召集、召开符合《中华人民共和国公司法》《上市公司 ...

证券代码：300911 证券简称：亿田智能 债券代码：123235 债券简称：亿田转债 浙江亿田智能厨电股份有限公司投资者关系活动记录表 编号：2025002 投资者关系活动 类别 特定对象调研 分析师会议 □媒体采访 业绩说明会 □新闻发布会 □路演活动 □现场参观 □其他 参与单位名称及 人员姓名 投资者网上提问 时间 2025 年 5 月 8 日 (周四) 下午 15:00~17:00 地点 公司通过 全景网" 投资者关系互动平台 " （https://ir.p5w.net）采用网络远程的方式召开业绩说明会 上市公司接待人 员姓名 1、亿田智能 董事长孙伟勇 2、亿田智能 董事、总经理孙吉 3、亿田智能 财务总监陈洪 4、亿田智能 董事会秘书、总经理助理沈海苹 5、保荐代表人孙江龙 6、独立董事沈海鸥 投资者关系活动 主要内容介绍 1、 亿田智能在品牌营销方面有哪些成功案例和后续推 广策略？ 尊敬的投资者，您好！公司积极推进新媒体多平台线上线 下营销，在南宁、贵阳等城市投放橙系主题地铁专列广告，强 化"亿田集成科技，更懂中国厨房"的品牌认知；通过持续签 约明星代言，结合高端设计奖项（如 IF、红点）塑造 ...

Core Insights - The computing power and large model sectors have shown significant strength, with multiple stocks hitting their daily limit up, indicating a bullish market sentiment in these areas [1][2]. Group 1: Market Performance - Hongbo Co., Ltd. has achieved a four-day consecutive limit up, with a latest price of 15.88 and a rise of 9.97% [2]. - Other companies such as Chuanrun Co., Ltd. and Yitian Intelligent have also reported substantial gains, with Yitian Intelligent increasing by 14.97% [2]. Group 2: Policy and Industry Developments - Xi Jinping emphasized the importance of leveraging the new type of national system to advance artificial intelligence technology during a recent visit to Shanghai [3]. - Alibaba has launched the Qwen3 model, which is significantly more cost-effective and outperforms leading models, marking a major advancement in open-source AI technology [3]. - Beijing's new work guidelines aim to support private enterprises in building intelligent computing centers and provide financial incentives for companies purchasing domestically produced GPU chips [3]. Group 3: Company Announcements - Yitian Intelligent has signed a strategic cooperation framework agreement to build a domestic computing power cluster with an investment of 5.5 billion yuan, aiming to provide over 25,000 PetaFLOPS of computing power by the end of 2027 [4]. - Hongbo Co., Ltd. reported a significant increase in revenue for Q1 2025, achieving 677 million yuan, a year-on-year increase of 337.25%, and a net profit of 84.58 million yuan, marking a turnaround from losses [4]. Group 4: Analyst Insights - The AI sector is identified as a key driver of technological revolution and industrial transformation, with a focus on high-quality development amidst external uncertainties [5]. - Companies in the AI computing power industry are showing strong performance, indicating a high level of industry vitality and potential investment opportunities [5]. - The demand for domestic computing power is expected to rise, supported by favorable policies and the ongoing development of local technology [5].

Retail Sector Activity - The retail sector showed significant activity with Maoye Commercial (600828) hitting the daily limit and achieving five consecutive trading limits [1][4] - Other notable stocks in the retail sector included Cuiwei Co. (603123) and Laisen Tongling (603900), both reaching the daily limit, while Zhongxing Commercial (000715) and Hongqi Chain (002697) also saw substantial gains [4] Economic Indicators - In the first quarter, China's total retail sales of consumer goods reached 12.47 trillion yuan, marking a year-on-year growth of 4.6%, which is an acceleration of 1.1 percentage points compared to the previous year [6] - March alone saw a growth rate of 5.9% in retail sales [6] AI Glasses Concept - The AI glasses concept opened strong with Yingtong Communications (002861) hitting the daily limit, while Deep Konka A surged over 8% [7] Computing Power Leasing Concept - The computing power leasing concept gained momentum with Changshan Beiming (000158), Chaoxun Communication (603322), and Hongbo Co. (002229) all reaching the daily limit, and Yitian Intelligent (300911) rising over 10% [8] Real Estate Sector Movement - The real estate sector experienced a surge with Zhonghua Enterprise (600675) and Yuehongyuan A both hitting the daily limit, while Huayuan Real Estate (600743) and Xinhuangpu (600638) increased by over 7% [9] Banking Sector Decline - The banking sector faced declines, with Huaxia Bank dropping over 8%, and major banks like China Construction Bank, Beijing Bank, and others falling by more than 2% [10] Manufacturing PMI - China's manufacturing purchasing managers' index (PMI) for April was reported at 49%, a decrease of 1.5 percentage points from the previous month, indicating a contraction in the manufacturing sector [11] - High-tech manufacturing PMI stood at 51.5%, indicating continued expansion in that sector [11] - The service sector maintained expansion with a business activity index of 50.1, despite a slight decline from the previous month [11] US Automotive Tariff Developments - President Trump signed an announcement to provide compensation for tariffs on imported auto parts, allowing up to 3.75% of the retail price for compensation, which will decrease to 2.5% in the second year [12] - This move reflects ongoing pressure on the government regarding its tariff policies [12]

智通财经4月29日电，亿田智能(300911.SZ)公告称，公司全资子公司甘肃亿算智能科技有限公司与庆阳 市人民政府、燧原智能科技（庆阳）有限公司签署了《共建国产十万卡算力集群及新质生产力生态圈战 略合作框架协议》。甘肃亿算及其生态合作伙伴计划出资55亿元，建设"国产十万卡算力集群"，提供不 低于2.5万P算力服务，预计于2027年12月30日前建成并投入使用。该协议的签署确立了三方战略合作关 系，但具体实施内容和进度尚存在不确定性。 亿田智能：全资子公司签署共建算力集群及新质生产力生态圈战略合作框架协议 ...

| 证券代码：300911 | 证券简称：亿田智能 公告编号：2025-035 | | --- | --- | | 债券代码：123235 | 债券简称：亿田转债 | 浙江亿田智能厨电股份有限公司 关于全资子公司签署《共建国产十万卡算力集群及新质生产力生 态圈战略合作框架协议》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、合同的生效条件：本协议有效期为5年，自三方法定代表人或授权代表签 字并加盖公章之日起生效。 2、本次签署的《共建国产十万卡算力集群及新质生产力生态圈战略合作框 架协议》（以下简称"本合同"或"合同"或"本协议"）为三方开展合作的框 架性协议，该协议的签署确立了三方战略合作关系，为三方推进具体项目合作奠 定了基础，三方后续的合作以具体签订的协议为准，具体的实施内容和进度尚存 在不确定性。敬请广大投资者注意投资风险。 3、本次合作尚未签署具体项目合作协议，亦未正式开展具体合作事宜，对 公司本年度及后续年度财务状况和经营成果等影响存在不确定性。公司会根据后 续合作情况依照法律法规及时履行信息披露义务。 4、最近三年披露的框 ...

Core Viewpoint - The company reported a significant decline in revenue and net profit for 2024, primarily due to the weak real estate market impacting demand for integrated stoves [1][2][3]. Financial Performance - In 2024, the company achieved revenue of 703 million yuan, a year-on-year decrease of 42.73%, and a net profit attributable to shareholders of 26.54 million yuan, down 85.17% [1]. - The fourth quarter of 2024 saw revenue of 254 million yuan, a decline of 10.40%, but net profit increased by 847.70% to 37.58 million yuan [1][4]. Revenue Breakdown - Integrated stove revenue was 588 million yuan, down 46.33%, accounting for 83.65% of total revenue, a decrease from 89.26% [3]. - Other product revenue was 115 million yuan, down 12.85%, also affected by weak demand in the real estate sector [3]. Cost and Expenses - The company's gross margin for 2024 was 39.71%, a decrease of 8.95 percentage points, with integrated stove gross margin at 41.88%, down 8.05 percentage points [4]. - Sales expenses decreased by 46.48%, management expenses by 36.03%, and R&D expenses by 28.36%, contributing to improved performance in Q4 2024 [4]. Dividend and Capital Increase - The company plans to distribute a cash dividend of 10 yuan per 10 shares (including tax), resulting in a dividend payout ratio of 515.07%, and intends to increase capital by issuing 3 additional shares for every 10 held [1]. Future Outlook - The company is expected to withstand short-term demand fluctuations and achieve sustainable growth through product iteration and marketing efforts, with projected net profits of 70.39 million, 75.45 million, and 79.77 million yuan for 2025-2027 [5].

丨证券研究报告丨 公司研究丨点评报告丨亿田智能（300911.SZ） [Table_Title] 费用率边际优化，2024Q4 业绩大幅改善 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 1 亿田智能（300911.SZ） cjzqdt11111 [Table_Title2] 费用率边际优化，2024Q4 业绩大幅改善 报告要点 [Table_Summary] 2024 年公司实现营收 7.03 亿元，同比下滑 42.73%，实现归母净利润 2654.14 万元，同比下 滑 85.17%，实现扣非归母净利润 1124.74 万元，同比下滑 93.17%；其中，2024Q4 公司实现 营收 2.54 亿元，同比下滑 10.40%，实现归母净利润 3757.73 万元，同比增长 847.70%，实现 扣非归母净利润 3195.97 万元，同比增长 205.81%。同时，公司拟向全体股东每 10 股派发现 金红利 10 元（含税），对应分红率为 515.07%，并且公司拟以资本公积金向全体股东每 10 股 转增 3 股。 分析师及联系人 [Table_Author] 陈 ...

Group 1 - The core viewpoint of the news highlights the ongoing rebound in computing power concept stocks, with notable gains in companies such as Hongbo Co., Ltd., Litong Electronics, and ST Huatuo [1][2] - As of the latest data, the computing power scale of the eight major hub nodes in China's "East Data West Computing" initiative has reached 215.5 quintillion floating-point operations per second, with intelligent computing power accounting for 80.8% of the total [3] - The National Bureau of Statistics indicates that the construction of a nationwide integrated computing network is accelerating, enhancing user experience and providing flexible network services for SMEs and research institutions [3] Group 2 - Guosheng Securities believes that increased policy emphasis on artificial intelligence is expected to accelerate the development of AI applications and the upstream computing power industry [4] - CITIC Construction Investment reports that companies related to the AI computing power industry have shown good performance in their financial disclosures for 2024 and Q1 2025, indicating a high level of industry prosperity [4]

Core Insights - The integrated stove industry is experiencing a significant downturn, with all four listed companies reporting declines in both revenue and net profit for 2024, indicating a critical need for transformation and survival strategies [1][5]. Financial Data Overview: Industry in "Frozen Period" - The financial performance of the four companies has deteriorated, with an average revenue decline exceeding 40% and an average net profit drop of over 80% [6][9]. - Mars has reported a revenue of 13.76 billion, Zhejiang Meida at 8.77 billion, Yitian Intelligent at 7.03 billion, and Shuaifeng Electric at 4.29 billion [6]. - Mars' net profit has plummeted to approximately 4.5% of its peak in 2021, while Zhejiang Meida's revenue has decreased by over 60% compared to 2021 [6][9]. - The average gross margin has fallen from over 50% in 2021 to 41.6% in 2024, with net profit margins dropping from over 15% to 7.8% [9]. Industry Challenges: Five Structural Contradictions Emerge - The decline in the integrated stove industry is attributed to multiple long-term contradictions, including reliance on the real estate market, which has entered a downturn, impacting demand [13][14]. - The industry is facing a consumption downgrade, with a significant increase in the market share of products priced below 10,000 yuan, leading to price wars that erode profitability [15]. - Companies are struggling with a lack of product diversity, with integrated stoves contributing over 90% of their revenue, limiting growth opportunities [17]. - Slow technological iteration and increased product homogeneity are exacerbating competition, as companies reduce R&D spending [18][21]. - Limited benefits from national subsidies for replacing old products have not significantly boosted sales, particularly in lower-tier cities [23]. Paths to Recovery: Five Strategic Directions - Companies are exploring multi-category strategies to enhance kitchen ecosystem offerings, integrating integrated stoves into broader kitchen appliance systems [24][27]. - Channel transformation is underway, with companies seeking to tap into existing markets through strategic partnerships and community service initiatives [28][31]. - The industry is looking towards international markets for growth opportunities, with some companies expanding their export businesses [32]. - New growth avenues are being pursued, such as AI and kitchen technology, with companies like Yitian exploring new business models [33][35]. - The overall sentiment indicates that the industry is at a critical juncture, requiring immediate action to stabilize cash flow and innovate product offerings to regain market confidence [37].