证券代码：001387 证券简称：雪祺电气 公告编号：2025-037 合肥雪祺电气股份有限公司 2024 年年度权益分派实施公告 公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 合肥雪祺电气股份有限公司（以下简称"公司"）2024 年年度权益分派方案已 获 2025 年 5 月 16 日召开的 2024 年年度股东大会审议通过，现将权益分派事宜 公告如下： 一、股东大会审议通过本次权益分派方案的情况 1、公司于 2025 年 5 月 16 日召开 2024 年年度股东大会，审议通过了《关于 公司 2024 年度利润分配方案的议案》，具体内容如下：公司以截至 2025 年 3 月 31 日的总股本 183,038,400 股为基数，向全体股东每 10 股派发现金股利 1.2 元人 民币（含税），预计共分配现金股利 21,964,608 元人民币（含税），本次不送红 股，不以资本公积金转增股本，剩余未分配利润结转入下一年度。公司最终以实 施权益分派时股权登记日的公司总股本为基数，若在实施前总股本由于可转债转 股、股份回购、股权激励行权、再融资新增股份上市等原因而发 ...

Core Viewpoint - The upcoming half-year report season is expected to show a positive trend in A-share companies' performance, with a significant number of companies forecasting profit increases, indicating a potential investment opportunity in high-growth sectors [1][2][4]. Group 1: Performance Forecasts - As of June 22, 2025, 18 A-share companies have disclosed their half-year performance forecasts, with 11 companies expecting profit increases, accounting for 61.11% of the total [1]. - Among the companies forecasting profit growth, notable increases include Shengnuo Biological (332.1%), Luxshare Precision (25%), and Jiao Da Iron & Steel (19.91%) [2]. - Six companies, including Luxshare Precision and Zhongce Rubber, are expected to achieve net profits exceeding 100 million yuan, with Luxshare Precision forecasting 6.745 billion yuan [2][3]. Group 2: Revenue Expectations - Eleven companies are projected to have revenues exceeding 500 million yuan, with five companies expected to surpass 1 billion yuan [3]. - Luxshare Precision leads in revenue expectations, while Zhongce Rubber anticipates revenue between 20 billion to 21.4 billion yuan, reflecting a year-on-year growth of 8% to 15.56% [3]. Group 3: Market Sentiment and Sector Insights - Analysts suggest that improving performance expectations can stabilize market sentiment and reduce short-term volatility, particularly in sectors like electronics and communications, which are benefiting from the AI industry's growth [4]. - The traditional Chinese medicine sector is also expected to see a performance turnaround, with analysts predicting significant revenue and profit growth in the second quarter of 2025 [4]. - Investment strategies should consider both short-term performance forecasts and long-term value growth commitments to support stable valuation increases [4].

Group 1 - The core viewpoint emphasizes that multiple listed companies are actively engaging in the circular economy sector under the "dual carbon" goals, showcasing significant development potential and market value across various industries [1] Group 2 - The DaaS (Device as a Service) model is leading a new trend in equipment recycling, with Lingxiong Technology being a key player, providing comprehensive services that significantly enhance IT equipment utilization [3] - DaaS solutions can reduce initial investment by over 97% compared to traditional IT equipment procurement methods and save around 30% in operational costs over three years [3] - Lingxiong Technology's philosophy reflects the core idea of circular economy: "limited resources, infinite cycles" [3] Group 3 - Various listed companies are exploring diverse paths in the circular economy, with Guqi Down Materials focusing on the harmless and resourceful reuse of by-products from the upstream livestock and slaughtering industry [4] - Yingke Recycling specializes in the full industry chain of recycled plastics, holding key technologies in foam reduction and PET "bottle-to-bottle" recycling, with plans to expand into other plastic recycling areas [4] - Mingtai Aluminum is building a low-carbon circular green economy with a closed-loop industry chain from raw material recovery to deep processing, increasing the proportion of recycled aluminum products [4] - The use of recycled aluminum products aligns with global environmental and sustainable development strategies, effectively reducing carbon emissions and production costs while enhancing market competitiveness [4]

Financial Performance - In 2024, the company's operating revenue was CNY 1,945.80 million, with a net profit attributable to shareholders of CNY 102.08 million [2] - For Q1 2025, the operating revenue was CNY 441.21 million, and the net profit attributable to shareholders was CNY 19.04 million [2] - The total cash dividend for 2024 is expected to be CNY 361.88 million, accounting for 35.45% of the net profit attributable to shareholders [3] Dividend Distribution - For the 2024 profit distribution, the company plans to distribute CNY 1.20 per 10 shares, totaling CNY 219.65 million [3] - The previous distribution was CNY 0.80 per 10 shares, totaling CNY 142.23 million [3] Business Development - The PCBA business generated revenue of CNY 19.37 million in 2024, following the acquisition of a controlling subsidiary [3] - The subsidiary has 15 production lines and holds 10 patents and 27 software copyrights, indicating strong technical capabilities [3] Industry Outlook - The company maintains a positive outlook on the home appliance market, driven by increasing consumer demand and product upgrades [4] - The company plans to enhance its competitiveness through technology development and market expansion [4] Shareholder Actions - Major shareholders have announced plans to reduce their holdings, but no reductions have commenced as of the latest update [5][6] Operational Status - As of Q1 2025, the company reported a 1.14% increase in operating revenue compared to the previous year, and an 8.31% increase in net profit [6] - The company is focused on upgrading existing refrigerator products and developing differentiated offerings [6] Stock Compensation - The estimated stock compensation expense for 2025 is CNY 21.15 million, with CNY 3.44 million already recognized in Q1 [6]

| 行情 | 资金净流入 | 涨跌分布 | | --- | --- | --- | | 上证指数 | 深证成指 | 北证50 | | 2881.23 | 8583.31 | 703.23 | | -5.51 -0.19% +108.61 +1.28% +5.92 +0.85% | | | | 科创50 | 创业板指 | 万得全A | | 719.95 | 1660.66 | 4101.54 | | +6.07 +0.85% +16.21 +0.99% +31.13 +0.76% | | | | 沪深300 | 中证500 | 中证800 | | 3399.41 | 4728.68 | 3610.33 | | +0.14 0.00% +63.24 +1.36% +11.97 +0.33% | | | | 中证1000 | 中证2000 | 万得微盘股 | | 4695.68 | 1749.96 | 209335.59 | | +27.08 +1.57% +2898.77 +1.40% +63.11 +1.36% | | | A股主要指数涨跌不一，截至午间收盘，沪指跌0.19%报2881.23点，深成指涨1.28 ...

证券代码：001387 证券简称：雪祺电气 公告编号：2025-036 合肥雪祺电气股份有限公司 2024 年年度股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 特别提示： 1、本次股东大会不存在否决议案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开情况 1、召开时间： 现场会议时间：2025 年 5 月 16 日（星期五）下午 14：00 网络投票时间：2025 年 5 月 16 日（星期五） 6、本次会议的召集、召开程序符合《中华人民共和国公司法》《上市公司股 东会规则》《深圳证券交易所股票上市规则》等有关法律、行政法规、规范性文 件和《合肥雪祺电气股份有限公司章程》的有关规定。 1 二、会议出席情况 （一）股东出席的总体情况 参加本次股东大会现场会议和网络投票表决的股东及股东授权委托代表共 88 人，代表股份数量合计为 121,168,494 股，占合肥雪祺电气股份有限公司（以 下简称"公司"）有表决权股份总数的 66.1984%。其中：通过现场投票的股东及股 东授权委托代表共 3 人，代表股份数量合计为 ...

北京市嘉源律师事务所 关于合肥雪祺电气股份有限公司 2024 年年度股东大会的 法律意见书 西城区复兴门内大街 158 号远洋大厦 4 楼 中国·北京 雪祺电气·2024 年年度股东大会 嘉源·法律意见书 北京市嘉源律师事务所（以下简称"本所"）接受合肥雪祺电气股份有限公 司（以下简称"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公 司法》"）《上市公司股东会规则》（以下简称"《股东会规则》"）等现行有效的法 律、行政法规、部门规章、规范性文件（以下简称"法律法规"）以及《合肥雪祺 电气股份有限公司章程》（以下简称"《公司章程》"）的有关规定，指派本所律师 对公司 2024 年年度股东大会（以下简称"本次股东大会"）进行见证，并依法出 具本法律意见书。 为出具本法律意见书，本所指派律师现场见证了本次股东大会，查阅了公司 提供的与本次股东大会有关的文件和资料，并进行了必要的审查和验证。在前述 审查和验证的过程中，本所律师得到公司的如下确认：就本所认为出具本法律意 见书所必需审查的事项而言，公司已经提供了全部相关的原始书面材料、副本材 料或口头证言，该等资料均属真实、准确、完整及有效，有关复印件与原 ...

Core Viewpoint - The white goods industry in A-share market has shown significant performance divergence, with leading companies benefiting from scale and innovation while smaller firms face increasing pressure and declining performance [1][2]. Industry Performance - In 2024, the white goods industry achieved a total revenue of 10,465.29 billion yuan and a net profit of 914.88 billion yuan [1]. - The industry experienced a "Matthew effect," where leading companies strengthened their market positions, while smaller firms struggled [1]. Company Performance - Midea Group led the industry with a revenue of 4,071.50 billion yuan and a net profit of 385.37 billion yuan, showing year-on-year growth rates of 9.44% and 14.29% respectively [2][3]. - Haier Smart Home reported a revenue of 2,859.81 billion yuan and a net profit of 187.41 billion yuan, with a high quality of earnings reflected in a 95% proportion of non-recurring net profit [2][3]. - Gree Electric Appliances saw a revenue decline of 7.26%, with a net profit growth of only 10.91%, indicating a lag behind its competitors [2][3]. Performance Disparity - Half of the listed companies in the white goods sector experienced revenue declines in 2024, including Gree, Konka, Aucma, Whirlpool, and Snowman Electric [4]. - Konka reported a significant loss of 32.96 billion yuan, with a year-on-year loss increase of 52.31% due to declining traditional appliance business [4]. - Aucma transitioned from profit to loss, with a year-on-year decline of 186.56% [4]. Profitability Metrics - The industry exhibits a "high gross margin, low net margin" characteristic, with significant disparities among companies [5]. - Gree Electric Appliances leads with a gross margin of 29.43% and a net margin of 17.11% [7]. - Konka has the lowest gross margin at 4.40% and a net margin of -34.95%, indicating severe profitability issues [7]. Expense Management - The top three companies (Haier, Midea, Gree) have significantly higher sales and R&D expenses compared to others, with Haier's sales expenses being 3.13 times its R&D expenses [8][9]. - Four companies, including Aucma and Konka, reduced their R&D expenses year-on-year, which may negatively impact their long-term competitiveness [9]. Operational Efficiency - Midea, Gree, and Haier maintain superior cash generation and operational efficiency, with Midea achieving over 600 billion yuan in operating cash flow [13]. - Konka's inventory turnover days exceed 100 days, indicating potential inventory accumulation and sales risks [13]. - Whirlpool is the only company in the industry with negative operating cash flow, highlighting its weak sales collection ability [13].

Group 1: Financial Performance - The company's 2024 operating revenue was 1,945.80 million CNY, with a net profit attributable to shareholders of 102.08 million CNY [4] - In Q1 2025, the operating revenue was 441.21 million CNY, with a net profit of 19.04 million CNY [4] Group 2: Shareholder Concerns - Shareholder reduction in holdings is based on personal financial arrangements, and the company is considering share buyback plans if necessary [2][3] - The stock price has been affected by macroeconomic conditions and market sentiment, with the company implementing two profit distribution plans since listing [3] Group 3: Asset Management - As of December 31, 2024, restricted cash and receivables totaled 88.42 million CNY, accounting for approximately 4.43% of total assets, which will not adversely affect daily operations [3] Group 4: Market Expansion and Sales - The company exports to over 100 countries, including the USA, Canada, and Australia, with a focus on large refrigerators and commercial display cabinets [3][5] - Export revenue for 2022, 2023, and 2024 was 362.53 million CNY, 580.32 million CNY, and 730.31 million CNY, respectively, with percentages of total revenue at 18.81%, 24.60%, and 37.53% [6] Group 5: Future Growth Strategies - The company aims to enhance its market position through product innovation, expanding market share, and increasing the proportion of export sales [7] - Continuous investment in R&D and talent development is emphasized to meet diverse consumer needs and market demands [5][7] Group 6: Industry Outlook - The company maintains a positive outlook on the industry, anticipating growth driven by consumer demand and market upgrades [8] - The focus will be on technological advancements and market expansion to enhance competitiveness [8]

证券代码：001387 证券简称：雪祺电气 公告编号：2025-035 合肥雪祺电气股份有限公司 关于举办 2024 年度暨 2025 年第一季度 业绩说明会的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 合肥雪祺电气股份有限公司（以下简称"公司"）已于 2025 年 4 月 25 日在 《证券时报》《中国证券报》《上海证券报》《证券日报》《经济参考报》及巨潮资 讯网（www.cninfo.com.cn）上披露了《2024 年年度报告》及其摘要、《2025 年第 一季度报告》。为便于广大投资者更加全面深入地了解公司经营业绩、财务状况 等情况，公司定于 2025 年 5 月 13 日（星期二）15：00-16：30 在全景网举办 2024 年度暨 2025 年第一季度业绩说明会，本次业绩说明会将采用网络互动的方式， 具体如下： 一、业绩说明会召开的时间、地点和方式 召开时间：2025 年 5 月 13 日（星期二）15：00-16：30 召开地点：全景网"投资者关系互动平台"（https://ir.p5w.net） 召开方式：网络互动方式 二、出席人员 ...