老板电器2025半年报：数字厨电增长56%领跑行业，烹饪伙伴转型开启新程

Core Insights - The company reported a revenue of 4.608 billion yuan and a net profit of 712 million yuan for the first half of the year, with a strong operating cash flow of 511 million yuan, indicating robust financial health [1] - The second quarter saw a year-on-year revenue growth of 1.57% and a net profit increase of 2.96%, showcasing the company's resilience [1] - The company maintained a high dividend payout policy, distributing 0.5 yuan per share, totaling 472 million yuan [1] Business Performance - The company continues to lead the industry in core categories such as range hoods, gas stoves, integrated steam and baking machines, and integrated stoves, holding the top market share in offline sales [1] - The digital kitchen appliance segment performed exceptionally well, with sales increasing by 56.26% year-on-year, becoming a significant growth driver [1] - The "Boss + Mingqi" dual-brand strategy effectively targets different customer segments, with the Mingqi brand's online retail sales rising by 38.4% year-on-year [1] Strategic Direction - The company is transitioning from being a "kitchen appliance expert" to a "cooking partner," aiming to deepen its strategic upgrade [2] - The AI cooking model "Shishen" has surpassed 5.4 million users, enhancing user engagement through features like AI tongue diagnosis and smart recipe recommendations, contributing to high-quality business growth [1] - The commercial kitchen appliance sector has shown significant progress, with signed contracts and invoicing amounts increasing by 37% and 50% respectively, positioning the company to tap into a trillion-yuan market [1]