Group 1 - The kitchen and bathroom appliance sector experienced a decline of 0.52% on December 30, with Zhejiang Meida leading the drop [1] - The Shanghai Composite Index closed at 3965.12, showing a slight decrease of 0.0%, while the Shenzhen Component Index rose by 0.49% to 13604.07 [1] - Key stocks in the kitchen and bathroom appliance sector showed varied performance, with notable declines in Zhejiang Meida (-3.03%) and Boss Electric (-1.18%) [1] Group 2 - The sector saw a net inflow of 36.39 million yuan from main funds, while retail investors experienced a net outflow of 28.32 million yuan [1] - Detailed fund flow data indicates that Boss Electric had a main fund net inflow of 22.99 million yuan, while Zhejiang Meida faced a net outflow of 9.18 million yuan from main funds [2] - Retail investors showed significant outflows across several stocks, with Boss Electric and Zhejiang Meida experiencing outflows of 9.61 million yuan and 15.00 million yuan, respectively [2]

Market Overview - The kitchen and bathroom appliance sector experienced a decline of 0.15% on December 25, with Yitian Intelligent leading the drop [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] Stock Performance - Wanhe Electric (002543) closed at 10.17, with an increase of 1.19% and a trading volume of 148,200 shares, totaling a transaction value of 152 million yuan [1] - Mars (300894) closed at 11.45, up 0.97%, with a trading volume of 24,700 shares and a transaction value of 28.18 million yuan [1] - Boss Electric (002508) closed at 19.50, up 0.72%, with a trading volume of 46,500 shares and a transaction value of 90.98 million yuan [1] - Other notable performances include Vatti (002035) at 6.17 (0.00%), Aopu Technology (603551) at 12.04 (-0.08%), and Zhejiang Meida (002677) at 8.46 (-0.24%) [1] Capital Flow - The kitchen and bathroom appliance sector saw a net outflow of 46.90 million yuan from institutional investors, while retail investors had a net inflow of 58.71 million yuan [1] - Detailed capital flow for individual stocks shows that Wanhe Electric had a net outflow of 6.06 million yuan from institutional investors, while retail investors contributed a net inflow of 9.24 million yuan [2] - Yitian Intelligent (300911) experienced a net inflow of 672,100 yuan from institutional investors, but a net outflow of 305,680 yuan from speculative funds [2]

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 2025 年第六次临时股东会 之法律意见书 致：浙江亿田智能厨电股份有限公司 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《上市公司股东会规则》（以下简称《股东会规则》）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省）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 2025 年 12 月 24 日召开的 2025 年第六次临时 股东会（以下简称本次股东会），并就本次股东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 2025 年第次临时股东大会审议通过的《公司章程》； 2.公司 2025 年 12 月 8 日刊登于巨潮资讯网及深圳证券 ...

特别提示 1、 本次股东会存在否决议案的情形，议案一《关于全资子公司拟处置部分 资产的议案》未获表决通过。 2、 本次股东会不涉及变更以往股东会已通过的决议。 证券代码：300911 证券简称：亿田智能 公告编号：2025-101 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 2025 年第六次临时股东会决议公告 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。 一、会议召开和出席情况 1、召开时间： （1）现场会议：2025 年 12 月 24 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：2025 年 12 月 24 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12月24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 ...

Group 1 - The kitchen and bathroom appliance sector experienced a decline of 0.74% on December 22, with Aopu Technology leading the drop [1] - The Shanghai Composite Index closed at 3917.36, up 0.69%, while the Shenzhen Component Index closed at 13332.73, up 1.47% [1] - Key stocks in the kitchen and bathroom appliance sector showed mixed performance, with Yitian Intelligent rising by 1.96% to 33.24 and Aopu Technology falling by 2.33% to 11.76 [1] Group 2 - The kitchen and bathroom appliance sector saw a net outflow of 11.488 million yuan from main funds, while retail funds experienced a net outflow of 33.8585 million yuan [1] - Notable net inflows from speculative funds included 45.3465 million yuan, indicating a shift in investor sentiment [1] - Individual stock fund flows revealed that Boss Electric had a main fund net inflow of 13.0374 million yuan, while Aopu Technology had a net outflow of 4.6709 million yuan [2]

Core Viewpoint - Yitian Intelligent's recent announcement of selling its computing power assets for 156 million yuan has raised concerns about its strategic retreat from the AI computing sector, which was previously touted as a new growth avenue [1][15]. Group 1: Asset Sale Details - Yitian Intelligent's subsidiary, Gansu Yisuan Intelligent Technology Co., plans to sell 600 units of computing machines at a unit price of 260,000 yuan, totaling 156 million yuan [2][16]. - The assets were purchased less than a year ago, with a book value of 100 million yuan and an assessed value of 122 million yuan, indicating a transaction appreciation rate of 21.81% [2][16]. - The payment will be made in installments, with 50% due by March 20, 2026, and the remaining amount by June 20, 2026, while ownership remains with Yitian until full payment is received [2][16]. Group 2: Strategic Implications - The sale is seen as a comprehensive exit from the AI computing project, including the transfer of future revenue rights associated with a government agreement for a computing project in Qingyang [4][18]. - Analysts suggest that this move indicates Yitian's intention to divest all related assets and obligations, marking a significant strategic withdrawal from the AI computing sector [4][18]. Group 3: Financial Performance - As of the end of Q3 2025, Yitian reported cash and financial assets totaling over 1 billion yuan, but these funds are largely from past financing rather than sustainable cash flow from operations [5][19]. - The company experienced a 45.51% year-on-year decline in revenue, with a net loss of 111 million yuan, reflecting a staggering 904.67% drop compared to the previous year [5][19]. - Operating cash flow turned negative for the first time, with a net outflow of 39 million yuan, indicating a deteriorating ability to generate cash from core operations [5][19]. Group 4: Market Conditions - The integrated stove market, closely tied to real estate, has been in decline, with retail sales dropping by 27.6% and volume by 31.5% in the first half of 2025 [6][20]. - Yitian's management has acknowledged increasing competition and a trend of consumers reducing budgets, further complicating its financial recovery [6][20]. Group 5: Investment and Cost Structure - Yitian's capital expenditures in the computing sector have significantly increased, with cash payments for fixed and intangible assets reaching 144 million yuan in 2023 and 135 million yuan in 2024 [9][23]. - The company faces substantial fixed costs, including annual depreciation of approximately 22.61 million yuan for the computing machines, which adds pressure to its already strained profit margins [11][25]. - The high fixed costs associated with the computing business have been described as a "profit black hole," exacerbating the company's financial difficulties [11][25]. Group 6: Stock Market Reaction - Despite the deteriorating fundamentals, Yitian's stock price surged by 184% from its low in September 2024, driven by market enthusiasm for AI computing concepts [12][26]. - However, internal stakeholders have begun to sell shares, with significant reductions in holdings by employee investment platforms, indicating a lack of confidence in the company's future [12][26].

Core Viewpoint - The kitchen and bathroom appliance sector experienced a slight decline of 0.05% on December 18, with Yitian Intelligent leading the drop. The Shanghai Composite Index rose by 0.16%, while the Shenzhen Component Index fell by 1.29% [1]. Group 1: Market Performance - The closing prices and performance of key stocks in the kitchen and bathroom appliance sector are as follows: - Zhejiang Meida: 7.54, up 3.29% [1] - Huoxingren: 11.38, up 0.89% [1] - Laixue Co.: 6.14, up 0.33% [1] - Shuaiyu Electric: 14.19, up 0.21% [1] - Wanhe Electric: 9.86, up 0.10% [1] - Boss Electric: 19.78, down 0.15% [1] - Rishidongfang: 9.86, down 0.50% [1] - Aopu Technology: 11.86, down 0.92% [1] - Yitian Intelligent: 32.66, down 1.80% [1] Group 2: Capital Flow - The kitchen and bathroom appliance sector saw a net outflow of 29.1 million yuan from main funds, while retail investors contributed a net inflow of 20.9 million yuan [1]. - The detailed capital flow for selected stocks is as follows: - Huoxingren: Main funds net inflow of 6.3362 million yuan, retail net outflow of 3.3202 million yuan [2] - Yitian Intelligent: Main funds net inflow of 2.7038 million yuan, retail net outflow of 1.7740 million yuan [2] - Zhejiang Meida: Main funds net outflow of 0.3343 million yuan, retail net inflow of 6.2176 million yuan [2] - Wanhe Electric: Main funds net outflow of 2.1733 million yuan, retail net inflow of 3.2652 million yuan [2] - Aopu Technology: Main funds net outflow of 5.7346 million yuan, retail net inflow of 1.9919 million yuan [2] - Boss Electric: Main funds net outflow of 6.7041 million yuan, retail net inflow of 7.1614 million yuan [2] - Rishidongfang: Main funds net outflow of 20.3348 million yuan, retail net inflow of 17.1426 million yuan [2]

Market Overview - The kitchen and bathroom appliance sector experienced a decline of 0.21% on December 17, with 日出东方 leading the losses [1] - The Shanghai Composite Index closed at 3870.28, up 1.19%, while the Shenzhen Component Index closed at 13224.51, up 2.4% [1] Stock Performance - 亿田智能 (300911) closed at 33.26, with an increase of 1.56% and a trading volume of 37,400 shares, totaling a transaction value of 124 million yuan [1] - 火星人 (300894) closed at 11.28, up 0.53%, with a trading volume of 43,500 shares and a transaction value of 48.31 million yuan [1] - 来学股份 (002035) closed at 6.12, up 0.33%, with a trading volume of 64,600 shares and a transaction value of 39.32 million yuan [1] - 浙江美大 (002677) closed at 7.30, up 0.14%, with a trading volume of 55,000 shares and a transaction value of 39.86 million yuan [1] - 万和电气 (002543) closed at 9.85, up 0.10%, with a trading volume of 55,100 shares and a transaction value of 53.91 million yuan [1] - 老板电器 (002508) closed at 19.81, down 0.30%, with a trading volume of 54,300 shares and a transaction value of 107 million yuan [1] - 奥普科技 (603551) closed at 11.97, down 0.33%, with a trading volume of 35,400 shares and a transaction value of 42.09 million yuan [1] - 帅丰电器 (605336) closed at 14.16, down 1.19%, with a trading volume of 19,600 shares and a transaction value of 27.74 million yuan [1] - 日出东方 (603366) closed at 9.91, down 1.88%, with a trading volume of 348,800 shares and a transaction value of 34.5 million yuan [1] Capital Flow - The kitchen and bathroom appliance sector saw a net outflow of 22.85 million yuan from institutional investors, while retail investors experienced a net inflow of 15.13 million yuan [1] - The detailed capital flow for individual stocks indicates varying levels of net inflow and outflow among different companies [2] - For instance, 老板电器 (002508) had a net inflow of 6.01 million yuan from institutional investors, while it faced a net outflow of 3.18 million yuan from retail investors [2] - Conversely, 日出东方 (603366) experienced a net outflow of 8.52 million yuan from institutional investors, but a net inflow of 15.03 million yuan from retail investors [2]

财通证券股份有限公司 关于浙江亿田智能厨电股份有限公司 2025年度持续督导培训情况报告 深圳证券交易所： 财通证券股份有限公司（以下简称"财通证券"或"保荐机构"）作为浙江 亿田智能厨电股份有限公司（以下简称"亿田智能"或"公司"）向不特定对象 发行可转换公司债券并在创业板上市的保荐机构，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 13 号——保荐业务》《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》的相关规定，于 2025 年 12 月 5 日对亿田智能 进行了持续督导培训，具体情况如下： 一、本次持续督导培训的基本情况 （一）培训时间及地点 1、培训时间：2025 年 12 月 5 日 （三）培训内容 培训内容主要为《上市公司治理准则》解读，针对 2025 年 10 月 17 日中国 证监会公布修订后的《上市公司治理准则》内容及具体修订情况做重点培训。 二、上市公司的配合情况 保荐机构本次持续督导培训的工作过程中，公司积极予以配合，保证了培训 工作的有序进行，达到了良好效果。 2、培训方式：采用现场授课结合 ...

Core Viewpoint - Yitian Intelligent (300911.SZ) announced that the "Yitian Convertible Bond" (bond code: 123235) will pay the second-year interest at face value on December 22, 2025, with an interest distribution of RMB 5.00 per 10 bonds (face value of 1000 yuan) [1] Group 1 - The interest payment period is from December 21, 2024, to December 20, 2025 [1] - The current coupon rate for this period is 0.50% [1]