证券代码： 301187 证券简称： 欧圣电气 公告编号： 2025-060 苏州欧圣电气股份有限公司 根据公司《2025年员工持股计划（草案）修订稿》（以下简称"《员工持股 计划》"）和公司2025年第三次临时股东大会的相关授权，本次调整首次授予及 预留份额事项在董事会审批权限范围内，无需提交公司股东会审议。现将相关内 容公告如下： 一、本次员工持股计划已履行的相关审批程序 1、2025年4月18日，公司召开第三届董事会第十六次会议,审议通过了《关 于公司2025年员工持股计划（草案）及其摘要的议案》《关于公司2025年员工持 股计划管理办法的议案》《关于提请召开2024年年度股东大会的议案》等相关议 案。公司董事会薪酬与考核委员会已对公司员工持股计划相关事项进行了事前审 议和认可，公司聘请的法律顾问在股东大会召开前出具了法律意见书。 同日，公司召开第三届监事会第十五次会议，审议通过了《关于公司2025 年员工持股计划（草案）及其摘要的议案》《关于公司2025年员工持股计划管理 办法的议案》等相关议案。 2025年5月9日，公司召开2024年年度股东大会审议通过了《关于公司2025 年员工持股计划（草案）及 ...

Summary of the Conference Call for 欧圣电气 Company Overview - 欧圣电气 primarily sells small air compressors and wet/dry vacuums through ODM and brand licensing models, accounting for nearly 90% of total revenue [2][9] - Major clients in the ODM model include large channel distributors like Lowe's [2] Industry Insights - The global pneumatic tools market is expected to reach $12.6 billion by 2025, with North America accounting for nearly half [2][10] - The small air compressor market is approximately $1 billion, with China exporting 60% of its compressors to North America, and 欧圣 holding a leading market share of 32% in this segment [2][10] - The U.S. vacuum cleaner market is valued at around $11 billion, with wet/dry vacuums making up about one-third of this market [2][11] Key Growth Drivers - **Market Share Growth**: 欧圣 expects over 50% revenue growth in air compressors in 2024, with a significant portion of compressors sold by 嘉德宝 being produced by 欧圣 [3] - **New Product Categories**: Expansion into pneumatic tools and outdoor power equipment (OPE) is projected to increase from 10% in 2024 to 25% by 2025-2026 [3] - **Geographic Expansion**: The company is actively entering non-North American markets, particularly Europe and South America, with European market growth expected to be two to three times [3][8] New Business Ventures - 欧圣's elderly care robot business has received CE and UL certifications, with expected shipments exceeding 1,000 units by 2025 at a unit price of approximately ¥20,000 and a gross margin over 50% [2][7] Strategic Initiatives - **Factory in Malaysia**: The establishment of a factory in Malaysia allows 欧圣 to benefit from tariff and tax advantages, enhancing cost efficiency and global supply chain stability [4][8] - **Response to Tariffs**: Despite a slowdown in growth due to U.S. tariffs in Q2 2025, overall order conditions remain strong, with potential for recovery driven by the elderly care robot business [4][13] Competitive Advantages - **Stable Supply Chain**: 欧圣 maintains a complete R&D and after-sales team, ensuring quick response to customer needs [14] - **Quality Control**: The company has a high self-manufacturing rate for motors and leads in ultra-quiet technology, enhancing product reliability [14] - **Channel Relationships**: Transitioning from a contract manufacturer to a strategic partner with brands like 百得, 欧圣 has deepened its channel relationships [14] Future Outlook - Despite anticipated growth slowdowns due to tariffs, the overall development logic for 欧圣 remains robust, with expectations for a rebound in performance [13]

Core Viewpoint - The global television panel shipment reached 22.3 million units in August 2025, showing a year-on-year increase of 7.6% and a month-on-month increase of 4.9%, indicating a recovery in inventory demand as brands prepare for the upcoming promotional season [1][2]. Group 1: Market Trends - The upcoming promotional season in overseas markets is expected to drive positive signals in panel procurement, with brands actively stocking up for events like Black Friday and Christmas [1]. - The global MiniLED television penetration rate is projected to reach 6.6% by 2025, with Chinese brands leading the push for MiniLED technology while Korean companies focus on OLED [2][3]. Group 2: Competitive Landscape - Chinese brands are significantly increasing their global market share in the television sector, with Hisense's share rising from 6.2% in 2016 to 14.4% in 2025, and TCL's share increasing from 5.8% to 14.8% during the same period [2]. - Samsung's TV business is undergoing a comprehensive review for the first time since 2015 due to competitive pressure from Chinese brands leveraging MiniLED technology [2]. Group 3: Technological Advancements - Chinese companies are leading the upgrade in MiniLED technology, with Hisense launching the RGB MiniLED TV UX series and TCL introducing the world's first SOD MiniLED flagship product, X11L [3]. - The shift in technological leadership marks a significant change, with Japanese and Korean companies now following the advancements made by Chinese firms in the MiniLED space [3]. Group 4: Retail Performance - Retail sales of televisions in China have begun to decline due to the reduction of government subsidies, with online retail sales growth dropping to -34.7% and -30.5% in the first two weeks of September [4]. - The decline in retail performance is attributed to the high year-on-year comparison and the impact of subsidy reductions starting from September 2024 [4].

Group 1 - The core point of the news is that Ousheng Electric experienced a 5.2% decline in stock price, reaching 28.83 yuan per share, with a total market capitalization of 7.35 billion yuan as of September 22 [1] - Ousheng Electric, established on September 25, 2009, and listed on April 22, 2022, specializes in the research, production, and sales of air power equipment and cleaning equipment [1] - The main revenue composition of Ousheng Electric includes vacuum cleaners (50.02%), air compressors (37.02%), accessories and others (8.70%), and industrial fans (4.26%) [1] Group 2 - Changxin Fund's Changxin Domestic Demand Balanced Mixed A (012493) entered the top ten circulating shareholders of Ousheng Electric in the second quarter, holding 591,300 shares, which accounts for 0.89% of the circulating shares [2] - The fund has reported a year-to-date return of 45.12% and a one-year return of 56.37%, ranking 1237 out of 8244 and 2536 out of 8066 respectively [2] - The fund manager, Wang Qi, has been in position for 3 years and 211 days, with the fund's total asset scale at 389 million yuan [3]

Core Viewpoint - The company is experiencing rapid growth in sales of its nursing robot products compared to the same period last year, indicating a positive market response [1] Group 1: Company Performance - The company's nursing robot sales have shown significant growth year-on-year [1] - The Malaysian factory has been operational since June this year and is now producing for the U.S. market [1] - Production capacity is increasing month by month, which is expected to contribute to the company's performance growth in the second half of the year [1]

Group 1 - The company, Ousheng Electric (301187), reported that as of September 10, 2025, the total number of shareholders is 12,832 [1]

Core Viewpoint - The company has developed an advanced nursing robot capable of automatically identifying and managing the waste of bedridden patients, with significant growth in order intentions and ongoing deliveries [1]. Group 1: Product Features - The nursing robot utilizes advanced intelligent recognition technology to accurately identify the user's waste status and initiate appropriate operational modes [1]. - The device can perform a series of operations including waste suction, warm water cleaning, warm air drying, and odor elimination, providing comprehensive care services for users [1]. Group 2: Market Presence - The company has established a robust sales system covering domestic nursing homes, care institutions, hospitals, and distributors of nursing equipment [1]. - The company is actively expanding into overseas markets, with bulk shipments already achieved in Japan, Taiwan, South Korea, and Russia, and has established broad cooperation with potential distributors in the US, Germany, and Italy [1]. Group 3: Sales Performance - The intention orders for the company's nursing robot products have significantly increased year-on-year and are being delivered in an orderly manner [1].

Core Viewpoint - The company is experiencing rapid growth in sales of its nursing robots compared to the same period last year, with expectations for improved performance in the second half of the year due to increased production capacity from its Malaysian factory [2]. Group 1: Company Performance - The sales of nursing robot products have shown a strong upward trend compared to the previous year [2]. - The Malaysian factory has been operational since June this year and has begun mass shipments to the U.S. market [2]. - Production capacity is expected to increase month by month, contributing positively to the company's performance in the latter half of the year [2].

Core Viewpoint - The company has reported a rapid growth in sales of its nursing robot products compared to the same period last year, indicating a positive market response [1] Group 1: Sales Performance - The sales of nursing robot products have shown significant growth compared to last year [1] Group 2: Production and Operations - The company's factory in Malaysia has been operational since June this year and has started bulk shipments to the U.S. market [1] - Production capacity is increasing month by month, which is expected to contribute to the company's performance growth in the second half of the year [1]

Summary of the Conference Call for 欧圣电器 Company Overview - **Company**: 欧圣电器 - **Date**: September 17, 2025 Key Points Industry and Market Performance - 欧圣电器 has effectively responded to the adverse impacts of US-China tariffs by establishing a factory in Malaysia, which has significantly reduced tariff costs for exports to the US [2][7] - New markets outside North America (ROW) are experiencing rapid growth, with ideal profit margins, compensating for the temporary capacity constraints of the Malaysian factory [2][4] - The company expects to restore previous growth momentum in the coming year, benefiting from the elimination of tariff impacts and the completion of capacity transitions [4][28] Operational Updates - The capacity of the Malaysian factory has increased significantly, with equipment utilization exceeding 80% and expected to reach 100% soon [3][6] - The company has successfully transitioned all US exports to the Malaysian factory, where tariffs are significantly lower (20%-22% compared to 55% from China) [7] - Initial operational challenges related to customs and processes have been resolved, allowing for smoother operations [8] Financial Performance - The manufacturing costs in Malaysia have become comparable to domestic costs, with scale effects and reduced depreciation driving profit margins higher [6] - The company anticipates continued improvement in profit margins in the second half of the year due to higher shipping prices from Malaysia compared to domestic prices [6] - The e-commerce business has seen rapid growth, with self-branded products performing well in emerging markets [2][17] Product Development and Innovation - The company has expanded its product range in the Malaysian factory to include new categories for US exports, leveraging existing core technologies [12] - The introduction of innovative products, such as outdoor power equipment, has received positive market feedback [12] - The nursing robot segment has made significant progress in overseas markets, with expectations for formal orders in Q4 [20][21] Customer and Order Dynamics - The company has a strong order backlog, with significant orders expected in the industrial fan business [19] - The growth of small and medium-sized customers has accelerated, particularly in the US and emerging markets, contributing positively to profit margins [14][15] - The average gross margin for small and medium-sized customers is at least 3 percentage points higher than that of large customers [16] Future Outlook - The company maintains a positive outlook for the next 2-3 years, expecting to recover growth momentum previously seen in 2024 [28] - The annual revenue guidance is set between 20%-30%, including contributions from newly acquired companies [27] - The company is actively exploring potential acquisition projects to enhance its core business and achieve synergies [29][32] Dividend and Shareholder Policies - The company plans to maintain a high level of cash dividends as long as operational and financial conditions allow [33] - There are no immediate plans for major share reductions following the upcoming shareholder lock-up expiration, with strict regulations governing any potential sales [34] Additional Insights - The company has successfully entered multiple overseas markets, including Japan, Taiwan, South Korea, and Russia, with a growing customer base in the healthcare sector [21] - The pricing strategy for overseas markets is higher than domestic prices, particularly in Japan and South Korea, which enhances profit margins [23]