| 证券代码：301004 | 证券简称：嘉益股份 | 公告编号：2025-043 | | --- | --- | --- | | 债券代码：123250 | 债券简称：嘉益转债 | | 浙江嘉益保温科技股份有限公司 一、回购公司股份的进展情况 关于回购公司股份的进展公告 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。 浙江嘉益保温科技股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日召 开第三届董事会第十四次会议，于 2025 年 5 月 6 日召开 2025 年第一次临时股 东大会，分别审议通过了《关于以集中竞价交易方式回购公司部分股份方案的议 案》等相关议案，公司拟使用不低于人民币 8,000 万元（含），不超过人民币 16,000 万元（含）以集中竞价交易方式回购公司已发行的无限售条件的人民币普通股（A 股）股票，回购价格不超过人民币 139.86 元/股。回购股份的实施期限为自股东 大会审议通过回购股份方案之日起 12 个月内，具体回购股份的数量以回购实施 完成/回购期满时实际回购的股份数量为准。具体内容详见公司于 2025 年 4 ...

| 证券代码：301004 | 证券简称：嘉益股份 | 公告编号：2025-042 | | --- | --- | --- | | 债券代码：123250 | 债券简称：嘉益转债 | | 浙江嘉益保温科技股份有限公司 关于 2024 年年度权益分派实施后 调整回购股份价格上限的公告 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、调整前回购股份价格上限：不超过人民币 139.86 元/股。 公司于 2025 年 4 月 25 日披露了《2024 年年度权益分派实施公告》（公告 编号：2025-032），确定本次权益分派股权登记日为 2025 年 5 月 6 日，除权除 息日为 2025 年 5 月 7 日，截至本公告披露日，公司 2024 年年度权益分派已实施 完毕。 2、调整后回购股份价格上限：不超过人民币 97.76 元/股。 3、回购股份价格上限调整生效日期：2025 年 5 月 7 日（权益分派除权除息 日）。 一、回购方案概述 浙江嘉益保温科技股份有限公司（以下简称"公司"）于 2025 年 4 月 15 日 召开第三届董事会第十四次 ...

Core Viewpoint - The announcement details the completion of share reduction plans by directors Zhu Zhongping and Ma Jing of Zhejiang Jiayi Thermal Insulation Technology Co., Ltd, indicating a total reduction of 157,500 shares, which is within their planned limits [1][2][4]. Shareholder Reduction Situation - Director Zhu Zhongping reduced his shares by 122,500 at an average price of 75.58 yuan per share, representing 0.0842% of the total share capital [2][3]. - Director Ma Jing reduced his shares by 35,000, which accounts for 0.0241% of the total share capital [2][3]. - Following the reduction, Zhu Zhongping holds 367,500 shares, maintaining a 0.2527% stake, while Ma Jing holds 105,000 shares, representing 0.0722% of the total share capital [3]. Compliance and Impact - The share reduction plan complies with relevant laws and regulations, ensuring no violation of prior commitments [3][4]. - The implementation of the reduction plan will not lead to a change in the company's control or significantly impact its governance structure or ongoing operations [3][4].

| 证券代码：301004 | 证券简称：嘉益股份 | 公告编号：2025-041 | | --- | --- | --- | | 债券代码：123250 | 债券简称：嘉益转债 | | 浙江嘉益保温科技股份有限公司 关于实际控制人之一致行动人、董事股份 减持计划实施完成的公告 公司董事朱中萍、马靖保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 浙江嘉益保温科技股份有限公司（以下简称"公司"）于 2025 年 2 月 5 日披 露了《关于实际控制人之一致行动人、董事减持股份的预披露公告》（公告编号： 2025-003）。公司董事、总经理暨实际控制人之一致行动人朱中萍先生拟通过集 中竞价交易或大宗交易等方式减持公司股份不超过 87,500 股，即不超过公司总 股本的 0.0842%；董事马靖先生拟通过集中竞价交易或大宗交易等方式减持公司 股份不超过 25,000 股，即不超过公司总股本的 0.0241%。公司于 2025 年 5 月 7 日实施完成 2024 年年度权益分派，以资本公积金向全体股东每 10 股 ...

Summary of Key Points Core Viewpoint - The company announced that two directors, Zhu Zhongping and Ma Jing, have reduced their shareholdings in the company through centralized bidding transactions, which complies with relevant laws and regulations and does not lead to a change in control of the company [1] Shareholding Reduction Details - Director Zhu Zhongping has cumulatively reduced his shareholding by 122,500 shares, accounting for 0.0842% of the total share capital [1] - Director Ma Jing has cumulatively reduced his shareholding by 35,000 shares, accounting for 0.0240% of the total share capital [1]

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Views - The company achieved a total revenue of 720 million and a net profit attributable to the parent company of 152 million in Q1 2025, representing year-on-year growth of 67% and 41% respectively [3][4]. - The growth in revenue is driven by both new and existing customers, with significant contributions from the company's largest customer, PMI, which reported a revenue of 2.472 billion in 2024, up 64% year-on-year [4]. - The company's production capacity in Vietnam is ramping up, and new facilities are under construction, which is expected to further support revenue growth [3][4]. - The company is focusing on high-margin insulated cup products, and the global sales trend of its customers, along with the company's global production layout, is expected to mitigate the impact of additional tariffs [3][4]. Summary by Sections Revenue Performance - In Q1 2025, the company experienced a significant increase in revenue, with contributions from both new and existing customers [4]. - The first major customer, PMI, is expected to continue its high growth trend into Q1 2025 [4]. Profitability Analysis - The gross margin improved quarter-on-quarter, with the Vietnam base's capacity utilization increasing [5]. - The Q1 2025 gross margin decreased by 4.8 percentage points year-on-year to 33.9%, primarily due to the ramp-up of the Vietnam and domestic new factories [5]. - The company incurred expenses related to convertible bond interest and equity incentive costs, which partially affected profit performance [5]. Strategic Initiatives - The company is actively expanding its production capabilities in Vietnam to enhance product origin diversification and strengthen supply chain collaboration with overseas customers [10]. - A recent share buyback plan was announced, reflecting the company's confidence in long-term growth [10]. - The company is increasing its R&D investment, with a 37.85% year-on-year increase in 2024, focusing on innovative product development [10].

Investment Rating - The investment rating for the company is "Buy" and is maintained [9]. Core Insights - In Q1 2025, the company achieved total revenue of 720 million yuan, net profit attributable to shareholders of 152 million yuan, and net profit excluding non-recurring items of 146 million yuan, representing year-on-year growth of 67%, 41%, and 34% respectively. The growth is driven by an increase in both new and existing customers, alongside the ramp-up of production capacity in Vietnam and the upcoming establishment of new bases [2][6]. - The company’s main product, insulated cups, has a high markup to end customers, and the global sales trend of customers, along with the company's global production layout, is expected to mitigate the impact of additional tariffs [2][7]. Revenue Analysis - The revenue in Q1 2025 showed significant growth, with contributions from both new and existing customers. The largest customer, PMI, generated revenue of 2.472 billion yuan in 2024, reflecting a 64% year-on-year increase, and this growth trend is expected to continue into Q1 2025. Additionally, Stanley is expanding into non-North American markets, and new customer acquisitions are anticipated to contribute positively to revenue [7]. Profitability Analysis - The gross margin improved quarter-on-quarter in Q1 2025, with the Vietnam base ramping up production. The gross margin year-on-year decreased by 4.8 percentage points to 33.9%, primarily due to the ramp-up effects from Vietnam and new domestic factories. However, the quarter-on-quarter gross margin increased by 0.6 percentage points, indicating improved capacity utilization in Vietnam [7]. Financial Projections - The company is projected to achieve net profits attributable to shareholders of 900 million yuan and 1.1 billion yuan in 2025 and 2026, respectively, corresponding to price-to-earnings ratios of 11x and 9x [7]. R&D and Strategic Initiatives - The company is actively increasing its R&D investment, with 92.36 million yuan spent in 2024, a year-on-year increase of 37.85%. The number of R&D personnel also grew by 73.81% to 438. Key projects include high-altitude heating and insulation cups, rapid cooling water cups, and carbon fiber paddles, aimed at expanding product categories and enhancing competitiveness [7]. Share Buyback Plan - Recently, the company announced a share buyback plan, reflecting confidence in its long-term development. The plan involves repurchasing 570,000 to 1.14 million shares at a price not exceeding 139.86 yuan per share, which represents 0.55% to 1.10% of the total share capital [7].

Core Viewpoint - The company, Jia Yi Co., Ltd. (301004), is actively responding to changes in trade policies and is focused on maintaining stable operations amid fluctuating tariffs and market conditions [1][2]. Group 1: Trade Policy Impact - The recent reduction of tariffs from 145% to 30% by the U.S. on Chinese goods is being closely monitored by the company to adapt its business strategies accordingly [1]. - The company is evaluating the potential for importing U.S. steel into Vietnam for production, which could help mitigate tariff impacts [1]. Group 2: Financial Performance and Share Buyback - The company announced a share buyback plan with a total amount ranging from 80 million to 600 million yuan, which is not expected to significantly impact its financial operations [2]. - As of December 31, 2024, the company's total assets were 2.84 billion yuan, with a net asset value of 1.96 billion yuan, indicating a healthy financial position [1]. Group 3: Production Capacity and Expansion - The company is in the planning phase for its second factory in Vietnam, with an investment of 28 million USD, but specific capacity details are yet to be finalized [3]. - Current production operations are reported to be normal, with no disruptions noted in April [7]. Group 4: Market Trends and Product Development - The company is experiencing a positive outlook in the insulated cup market, driven by evolving consumer preferences and increased marketing efforts by leading brands [8]. - In 2024, the company invested 92.36 million yuan in R&D, reflecting a year-on-year increase of 37.85%, indicating a commitment to innovation [6]. Group 5: Financial Metrics and Projections - For Q1 2025, the company reported a revenue of 720 million yuan, a year-on-year increase of 66.52%, and a net profit of 152 million yuan, up 41.26% [9]. - The company’s debt ratio stands at 27.86%, with a gross profit margin of 33.89% [9].

Group 1: Company Financials and Shareholder Returns - The company plans to repurchase shares with a total amount ranging from 80 million to 160 million CNY, which would represent 5.64% of total assets, 8.14% of net assets, and 8.77% of current assets as of December 31, 2024 [3][4]. - The company has distributed a total of 673.6 million CNY in dividends and has conducted a 10-for-4 stock bonus, raising concerns about the impact on financial operations under full production [6][8]. Group 2: Market and Production Insights - The company is closely monitoring the impact of the U.S. tariffs, which have been reduced from 145% to 30%, and is prepared to adjust strategies accordingly to ensure stable business operations [3][10]. - The company is investing 28 million USD in its second factory in Vietnam, with production capacity still under planning [5]. Group 3: Research and Development - In 2024, the company invested 92.36 million CNY in R&D, marking a year-on-year increase of 37.85%, focusing on new products and processes [8]. Group 4: International Market Strategy - The company is enhancing its strategic collaboration with key customers and is expanding its market presence to mitigate potential trade risks, including establishing a production base in Vietnam to diversify supply chains [10].

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。 为进一步加强与投资者的互动交流，浙江嘉益保温科技股份有限公司（以 下简称"公司"）将参加由浙江证监局指导，浙江上市公司协会主办，深圳市全 景网络有限公司承办的"2025 年浙江辖区上市公司投资者网上集体接待日暨 2024 年度业绩说明会"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （https：//rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP， 参与本次互动交流，活动时间为 2025 年 5 月 13 日（周二）15:00-17:00。届时 公司高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资 计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交流， 欢迎广大投资者踊跃参与！ 为提高互动交流的效率，现提前向所有关心公司的投资者公开征集交流问 题，广泛听取投资者的意见和建议。投资者可于 2025 年 5 月 12 日（周一） 17:00 前访问 http：//ir.p5w.net/zj/，或扫描下方二维 ...