“炊具大王”失色：苏泊尔2025年净利润同比下降6.58%

Core Viewpoint - Supor's financial performance has shown a decline in net profit and revenue, primarily due to challenges in the export market and increased competition in the domestic kitchen appliance sector [3][4]. Financial Performance - Total revenue for the reporting period was 2,277.18 million, a 1.5% increase from 2,242.73 million in the same period last year [2]. - Operating profit decreased by 5.2% to 258.78 million from 273.23 million [2]. - Total profit fell by 5.3% to 258.75 million compared to 273.24 million [2]. - Net profit attributable to shareholders decreased by 6.5% to 209.67 million from 224.44 million [2]. - Net profit attributable to shareholders after deducting non-recurring gains and losses dropped by 7.3% to 191.40 million from 206.47 million [2]. - Basic earnings per share decreased by 6.6% to 2.634 yuan from 2.820 yuan [2]. - The weighted average return on net assets decreased by 2.17 percentage points to 35.10% from 37.27% [2]. Business Segments - Domestic sales have shown stable growth due to continuous innovation and strong channel competitiveness, maintaining leading market shares in core categories [3]. - Export business has seen a slight decline in orders from major clients, leading to a minor decrease in revenue [3]. - The company has implemented cost reduction and efficiency improvement measures, resulting in a slight increase in overall gross margin compared to the previous year [3]. Market Challenges - The kitchen appliance industry is facing intense competition from both traditional and emerging brands [4]. - In the first three quarters of 2025, Supor reported a revenue of 54.20 million, a year-on-year decline of 2.30%, and a net profit of 4.26 million, down 13.42% year-on-year [4]. - There has been a notable increase in product quality complaints, with nearly 10,000 complaints related to Supor products reported on the Black Cat complaint platform [5].