Investment Rating - The report maintains an "Accumulate" investment rating for the company [4]. Core Views - The integrated stove industry is facing significant demand shortages, leading to operational pressures for the company [1]. - The company's total revenue for the first three quarters of 2024 was 449 million yuan, a year-on-year decrease of 52.45%, with a net profit attributable to shareholders of -11 million yuan, down 106.30% year-on-year [1]. - The third quarter of 2024 saw a single-quarter revenue of 106 million yuan, a decline of 67.57% year-on-year, and a net profit of -29 million yuan, a drop of 159.52% year-on-year [1]. - The overall retail sales of the integrated stove industry have contracted, with online and offline retail sales down 41.8% and 4% respectively in the first three quarters of 2024 [1]. - The company is actively pursuing product iteration and enhancing channel efficiency to combat market risks and pressures [1]. Financial Performance Summary - The company's gross margin in Q3 2024 decreased by 22.2 percentage points to 23.86% [1]. - The expense ratios for sales, management, R&D, and financial costs in Q3 2024 were 30.83%, 11.12%, 10.02%, and 2.37%, reflecting year-on-year changes of 7.31 percentage points, 5.1 percentage points, 5.44 percentage points, and 4.04 percentage points respectively [1]. - The net profit margin in Q3 2024 changed by -41.66 percentage points to -26.94% [1]. - The operating cash flow for Q3 2024 was 25 million yuan, a decline of 76.32% year-on-year, with cash received from sales of goods down 59.36% to 137 million yuan [1]. Earnings Forecast and Investment Suggestions - The company is expected to achieve net profits attributable to shareholders of 0 million yuan, 6 million yuan, and 6.6 million yuan for 2024, 2025, and 2026 respectively, with year-on-year growth rates of -99.8%, 13522.9%, and 9.7% [1]. - The report suggests maintaining the "Accumulate" investment rating based on the company's performance in the first three quarters of 2024 and the overall environment of the integrated stove industry [1].

Financial Performance - The company's revenue for Q3 2024 was ¥106,057,704.91, a decrease of 67.57% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥28,648,652.30, representing a decline of 159.52% year-over-year[2]. - The total revenue for the first nine months of 2024 was ¥448,797,063.74, down 52.45% year-over-year[5]. - Total revenue for Q3 2024 was CNY 448,797,063.74, a decrease of 52.5% compared to CNY 943,774,052.90 in the same period last year[15]. - In Q3 2024, the company reported a net profit of -10,960,566.40 CNY, a significant decrease compared to a net profit of 175,053,535.54 CNY in the same period last year, representing a decline of approximately 106.25%[16]. - The operating profit for Q3 2024 was -12,315,717.48 CNY, compared to an operating profit of 200,989,600.75 CNY in Q3 2023, indicating a substantial drop[16]. - The company reported a total profit of -12,262,945.16 CNY for Q3 2024, compared to a total profit of 200,008,644.56 CNY in Q3 2023, indicating a significant decline in overall profitability[16]. Cash Flow and Assets - The net cash flow from operating activities was -¥6,104,467.08, down 103.37% from the previous year[6]. - Cash and cash equivalents decreased to CNY 1,006,482,034.01 from CNY 1,455,311,205.81, representing a decline of 30.8%[12]. - The company's cash flow from operating activities showed a net outflow of -6,104,467.08 CNY, down from a net inflow of 180,970,712.95 CNY in the previous year[19]. - The net cash flow from investing activities was -282,322,558.47 CNY, compared to -76,492,098.50 CNY in Q3 2023, indicating a worsening investment cash flow situation[19]. - The cash and cash equivalents net increase was -¥445,768,700.43, a significant decline of 1391.99% compared to the previous year[6]. - Total assets at the end of Q3 2024 were ¥2,085,456,049.11, a decrease of 12.21% from the end of the previous year[2]. - Total assets decreased to CNY 2,085,456,049.11 from CNY 2,375,458,814.91, a reduction of 12.2%[14]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 8,317[7]. - Zhejiang Yitian Investment Management Co., Ltd. holds 44.32% of shares, totaling 61,360,000 shares[7]. - The top ten shareholders collectively hold significant stakes, with the largest shareholder holding over 44%[7]. - Chen Yuehua and Sun Ji, both individual shareholders, hold 3.07% and 3.00% respectively, with significant portions of their shares under lock-up[7]. - The total number of restricted shares at the beginning of the period was 7,100,040, with 2,130,012 shares added during the period[10]. Expenses and Costs - The company's financial expenses increased by 110.97% to ¥1,439,769.99 due to rising convertible bond interest expenses[5]. - The company reported a significant drop in sales expenses by 44.61% to ¥113,669,548.33, attributed to reduced marketing costs[5]. - Total operating costs for Q3 2024 were CNY 472,905,932.80, down 38.4% from CNY 769,051,509.17 year-over-year[15]. - Research and development expenses were CNY 33,741,515.45, a decrease of 26.0% compared to CNY 45,536,355.76 in the previous year[15]. Market Outlook and Strategy - The company maintains confidence in its long-term development and intrinsic value despite market fluctuations[11]. - The report highlights the importance of shareholder structure and management's strategic decisions regarding capital management[11]. - The company is focused on maintaining investor interests while navigating market conditions[11]. - The company plans to focus on market expansion and new product development in the upcoming quarters[13]. Stock and Bonds - The company decided not to adjust the conversion price of "Yitian Convertible Bonds" despite triggering conditions for a downward adjustment[11]. - The stock price has been below the conversion price for at least 15 trading days out of 30, indicating market pressure[11].

| 证券代码：300911 | 证券简称：亿田智能 | 公告编号：2024-065 | | --- | --- | --- | | 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 2024 年第三季度可转换公司债券转股情况公告 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、"亿田转债"（债券代码：123235）转股期为 2024 年 6 月 27 日至 2029 年 12 月 20 日；最新的转股价格为 28.61 元/股。 2、2024 年第三季度，共有 18,970 张"亿田转债"完成转股（票面金额共计 1,897,000 元人民币），合计转成 66,304 股"亿田智能"股票（股票代码：300911）。 3、截至 2024 年第三季度末，公司剩余可转换公司债券为 5,183,130 张，剩 余票面总金额为人民币 51,831.30 万元。 根据《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 15 号——可转换公司债券》的有关规定，浙江亿田智能厨电股份 有限公司（以 ...

| 证券代码：300911 | 证券简称：亿田智能 | 公告编号：2024-064 | | --- | --- | --- | | 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 关于控股股东拟协议转让公司部分股份进展暨 签订补充协议的公告 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、本次协议转让所涉股份均为无限售条件流通股，本次协议转让不触及要 约收购，不会导致公司控股股东及实际控制人及其一致行动人相应控制权发生变 化，不存在损害公司或其他股东利益的情形。 2、本次协议转让股份事项尚需深圳证券交易所合规性审核确认、中国证券 登记结算有限责任公司深圳分公司办理股份转让过户相关手续。本次协议转让事 项是否能够最终完成尚存在不确定性，敬请广大投资者注意投资风险。 一、本次协议转让概述 浙江亿田智能厨电股份有限公司（以下简称"公司")的控股股东浙江亿田 投资管理有限公司（以下简称"亿田投资"）与传定恒远中性 1 号私募证券投资 基金（以下简称"传定恒远"）签署了《浙江亿田投资管理有限公司与传定恒远 中性 1 ...

证券代码：300911 证券简称：亿田智能 公告编号：2024-063 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 2024 年第三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、 本次股东大会不存在否决议案的情形。 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： 二、 会议出席情况 （一）股东出席的总体情况 （1）现场会议：2024 年 9 月 18 日（星期三）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：2024 年 9 月 18 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：2024 年 9 月 18 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 ...

北京金杜（杭州）律师事务所 关于浙江亿田智能厨电股份有限公司 2024 年第三次临时股东大会 北京金杜（杭州）律师事务所（以下简称本所）接受浙江亿田智能厨电股份 有限公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证 券法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委 员会《上市公司股东大会规则（2022 年修订）》（以下简称《股东大会规则》）等 中华人民共和国境内（以下简称中国境内，为本法律意见书之目的，不包括中国 香港特别行政区、中国澳门特别行政区和中国台湾地区）现行有效的法律、行政 法规、规章和规范性文件和现行有效的《浙江亿田智能厨电股份有限公司章程》 （以下简称《公司章程》）有关规定，指派律师出席了公司于 2024 年 9 月 18 日 召开的 2024 年第三次临时股东大会（以下简称本次股东大会），并就本次股东大 会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1.经公司 2024 年第一次临时股东大会审议通过的《公司章程》； 2.公司 2024 年 8 月 30 日刊登于巨潮资讯网及深圳证券交易所网站的 ...

Investment Rating - The report maintains a "Buy" investment rating for the company [3]. Core Views - The company reported a significant decline in revenue and net profit for the first half of 2024, with total revenue of 343 million yuan, down 44.42% year-on-year, and a net profit of 18 million yuan, down 86.12% year-on-year [1]. - The decline in revenue is attributed to industry demand pressures, with integrated stove and other products generating revenues of 303 million yuan and 40 million yuan, respectively, both showing declines of 44.95% and 40.07% year-on-year [1]. - The company's gross margin decreased by 9.84 percentage points to 42.96% in Q2 2024, while the net profit margin fell by 16.15 percentage points to 6.06% [1]. - The company is focusing on product iteration and enhancing channel efficiency to combat market pressures, including developing high-end, intelligent, and integrated kitchen appliances [1]. - Profit forecasts for the company indicate a continued decline in net profit for 2024, with expected figures of 68 million yuan, 77 million yuan, and 83 million yuan for 2024, 2025, and 2026, respectively, reflecting year-on-year changes of -61.9%, 13.3%, and 7.8% [1][2]. Financial Summary - The company's total revenue for 2024 is projected to be 920 million yuan, a decrease of 25% year-on-year, with a net profit forecast of 68 million yuan [2]. - The latest diluted EPS is expected to be 0.49 yuan in 2024, with a projected P/E ratio of 42.6 [2]. - The net asset return rate is expected to drop to 4.6% in 2024, with a gradual recovery to 5.7% by 2026 [2]. Market Position - The company operates in the kitchen and bathroom appliance industry, which is currently facing significant challenges due to declining consumer demand and increased competition [1][3]. - The company's market capitalization is approximately 2.91 billion yuan, with a total share count of 138.4 million shares [3].

（三）可能或者已经影响社会公众投资者投资取向，造成股价异常波动的信 息； （四）其他涉及公司信息披露且可能对公司股票及其衍生品交易价格产生较 大影响的事件信息。 第二章 舆情管理的组织体系及其工作职责 浙江亿田智能厨电股份有限公司 舆情管理制度 第一章 总则 第一条 为提高浙江亿田智能厨电股份有限公司（以下简称"公司"）应对 各类舆情的能力，建立快速反应和应急处置机制，及时、妥善处理各类舆情对公 司股价、公司商业信誉及正常生产经营活动造成的影响，切实保护投资者合法权 益，根据相关法律、法规和规范性文件的规定及《浙江亿田智能厨电股份有限公 司章程》（以下简称"《公司章程》"），结合公司实际情况，制定本制度。 第二条 本制度所称舆情包括： （一）报刊、电视、网络等媒体对公司进行的负面报道； （二）社会上存在的已经或将给公司造成不良影响的传言或信息； 第三条 公司应对各类舆情（尤其是媒体质疑危机时）实行统一领导、统一 组织、快速反应、协同应对。 第四条 公司成立应对舆情管理工作领导小组（以下简称"舆情工作组"）， 由公司总经理任组长，董事会秘书任副组长，成员由公司其他高级管理人员及相 关职能部门负责人组成。 第五条 ...

浙江亿田智能厨电股份有限公司章程 浙江亿田智能厨电股份有限公司 章 程 二〇二四年八月 | 目录 | | --- | | 第一章 | 总则 1 | | --- | --- | | 第二章 | 经营宗旨和范围 2 | | 第三章 | 股 份 2 | | 第一节 | 股份发行 2 | | 第二节 | 股份增减和回购 4 | | 第三节 | 股份转让 5 | | 第四章 | 股东和股东会 6 | | 第一节 | 股东 6 | | 第二节 | 股东会的一般规定 9 | | 第三节 | 股东会的召集 12 | | 第四节 | 股东会的提案与通知 14 | | 第五节 | 股东会的召开 15 | | 第六节 | 股东会的表决和决议 18 | | 第五章 | 董事会 22 | | 第一节 | 董事 22 | | 第二节 | 董事会 25 | | 第六章 | 总经理及其他高级管理人员 30 | | 第七章 | 监事会 32 | | 第一节 | 监事 32 | | 第二节 | 监事会 33 | | 第八章 | 财务会计制度、利润分配和审计 34 | | 第一节 | 财务会计制度 34 | | 第二节 | 内部审计 37 | | ...

浙江亿田智能厨电股份有限公司 股东会议事规则 第一章 总 则 第一条 为规范浙江亿田智能厨电股份有限公司（以下简称"公司"）行为， 保证股东会依法行使职权，根据《中华人民共和国公司法》（以下简称"《公司 法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公 司股东大会规则》《上市公司治理准则》《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》 等相关法律法规、规范性文件及《浙江亿田智能厨电股份有限公司章程》（以下 简称"《公司章程》"）的规定，制定本规则。 第二条 公司应当严格按照法律、行政法规、本规则及《公司章程》的相关 规定召开股东会，保证股东能够依法行使权利。 公司董事会应当切实履行职责，认真、按时组织股东会。公司全体董事应当 勤勉尽责，确保股东会正常召开和依法行使职权。 第三条 股东会应当在《公司法》和《公司章程》规定的范围内行使职权。 第四条 股东会分为年度股东会和临时股东会。年度股东会每年召开一次， 应当于上一会计年度结束后的六个月内举行。临时股东会不定期召开，出现《公 司法》第一百一十三条及《公司章程》规定的应当召开 ...