针对上述反倾销调查，大叶股份将采用以下应对措施积极应对：经过公司多年国际化运营已经基本完成全球生产战略布局和供应链布局，公司将调整境外 生产基地的生产结构，整合公司内外部生产资源，以有效应对欧盟反倾销对公司割草机器人板块业务的影响。 同时，公司已于今年2月完成了德国子公司AL-KOGerr te GmbH（以下简称"AL-KO"）的收购工作，增加了奥地利生产基地，上述割草机器人产品的研 发、生产、制造、销售可通过AL-KO公司在当地直接运营。 大叶股份提示，本次对中国割草机器人的反倾销尚处于调查阶段，对公司生产、经营的影响存在不确定性。公司将继续保持关注，坚决维护公司及全体股 东的合法权益，并根据法律法规的有关规定及时履行信息披露义务。 资料显示，宁波大叶园林设备股份有限公司于2020年9月1日在深圳证券交易所上市，公司的主营业务是割草机、打草机/割灌机、其他动力机械及配件的 研发设计、生产制造和销售。 上市后，大叶股份净利润呈明显波动态势，今年上半年大幅增长，但第三季度却陷入亏损境地。2020年至2024年，公司归母净利润分别为0.77亿元、0.56 亿元、0.11亿元、-1.75亿元、0.16亿元。 11 ...

大叶股份(300879.SZ)公告称，公司于近日获悉，欧盟委员会应HusqvarnaManufacturingCZs.r.o.公司申 请，对原产于中国的割草机器人发起反倾销调查。此次调查针对2024年10月1日至2025年9月30日向欧盟 出口割草机器人的中国企业。公司将调整境外生产结构，整合内外部资源以应对影响。此外，公司已完 成德国子公司AL-KO的收购，增加了奥地利生产基地，可在当地直接运营割草机器人相关业务。 ...

大叶股份公告，2025年11月19日，欧盟委员会发布《立案公告》，应Husqvarna Manufacturing CZs.r.o.公 司申请，对原产于中国的割草机器人（Robot Lawn Mowers）发起反倾销调查。此次调查针对2024年10 月1日至2025年9月30日向欧盟出口割草机器人的中国企业，立案后7日内需提交抽样问卷。强制应诉企 业确定后30日内提交完整问卷，"合作企业"可获单独/平均税率，否则将面临惩罚性税率或失去欧洲市 场。 ...

交易咨询业务资格：证监许可【2012】1091号 菜粕早报 2025-11-20 大越期货投资咨询部：王明伟 从业资格证号：F0283029 投资咨询资格证号：Z0010442 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 CONTENTS 目 录 1 每日提示 2 近期要闻 3 多空关注 4 基本面数据 5 持仓数据 ✸菜粕观点和策略 菜粕RM2601：2400至2460区间震荡 1.基本面：菜粕震荡回落，豆粕走势带动和技术性震荡整理，市场回归震荡等待加拿大油菜 籽进口反倾销裁定尚待最终结果。菜粕现货需求旺季过去，但库存维持低位支撑盘面， 加上中加贸易磋商仍变数，盘面短期受豆粕影响维持区间震荡。中性 2.基差：现货2520，基差101，升水期货。偏多 3.库存：菜粕库存1.75万吨，上周1.8万吨，周环比减少2.78%，去年同期2.2万吨，同比减 少20.45%。偏多 4.盘面：价格在20日均线下方但方向向上。中性 5.主力持仓：主 ...

Core Points - The European Commission has initiated an anti-dumping investigation into Chinese lawn mowers, which may escalate trade tensions between China and the EU [1][6] - The investigation was prompted by a complaint from Husqvarna, indicating significant price and cost distortions in Chinese electric lawn mowers [1][2] - In the first nine months of this year, China's exports of lawn mowers to the EU increased by 37.7% in quantity and 80.6% in value, with an average price of $207.3, which is 43% higher than the global average price of $144.6 [2] Industry Overview - The Chinese lawn mower industry has seen a significant increase in exports, with total exports growing by 27.8% in quantity and 49.4% in value, reaching $2 billion [2] - European buyers are willing to pay higher prices for Chinese lawn mowers due to their superior performance and technological innovations [2][5] - Companies like Ninebot have emphasized their focus on the mid-to-high-end market, relying on technological innovation and user experience rather than price competition [5] Market Dynamics - The potential imposition of anti-dumping duties could raise barriers for the lawn mower industry, potentially optimizing the competitive landscape [5] - Major manufacturers with strong supply chain management and financial resources are expected to withstand industry fluctuations and may gain market share [5] - Recent tensions between China and the EU, including issues related to critical mineral supplies and semiconductor companies, have contributed to a strained trade relationship [6][7]

Core Viewpoint - The company believes that the EU's anti-dumping investigation into lawn mowers will have a limited impact on its overall business and will not significantly affect its operating performance [1] Company Summary - The lawn mower business accounted for less than 10% of the company's total revenue in the first three quarters of this year, contributing approximately 10% to EBIT, indicating its limited impact due to the size of the business [1] - The company's products focus on the mid-to-high-end market, with core competitiveness stemming from technological innovation and user experience rather than price competition [1] - The company is actively communicating with relevant departments and will cooperate with the investigation process to protect its legal rights [1] Industry Summary - The imposition of anti-dumping duties is likely to raise the entry barriers for the lawn mower industry, potentially optimizing the competitive landscape [1] - Leading manufacturers, equipped with mature supply chain management capabilities, sufficient financial reserves, and global operational experience, are better positioned to withstand industry fluctuations and may seize the opportunity to further enhance their market share and strengthen competitive advantages [1]

（编辑 楚丽君） 证券日报网讯 隆鑫通用11月18日在互动平台回答投资者提问时表示，公司的割草机器人产品，截至目 前仅有小批量样机发货，并未实现商业化销售，对公司营收和利润均无贡献，因此，欧盟拟对中国割草 机器人发起的反倾销调查不会对公司生产经营造成影响。 ...

来源：每日经济新闻 "三十而立"的戴斯觉，选择在公司业绩强势反弹之际辞职。 11月17日晚间，保龄宝（002286.SZ，股价10.86元，市值40.64亿元）突发公告，公司董事会于11月17日 收到公司董事长戴斯觉的书面辞职报告。 彼时，戴斯觉年仅26岁，而保龄宝是功能糖龙头企业，他接手的时点，正值无糖饮料带动的赤藓糖醇行 业风口。凭借与元气森林等"网红气泡水"的合作，赤藓糖醇成为市场爆款。然而，戴斯觉在任期内很快 便经历了行业周期性变动的挑战。 2023年，赤藓糖醇行业因新玩家涌入导致产能激增，随即陷入了严重的供需失衡和价格战。紧接着， 2023年11月，欧盟委员会决定对原产于中国的赤藓糖醇产品发起反倾销调查。 戴斯觉任期内完整地经历了行业从高热到寒冬的"过山车"。不过，从业绩上看，保龄宝展现了穿越周期 的韧性。 《每日经济新闻》记者注意到，戴斯觉出生于1995年1月，在2021年3月接棒时年仅26岁，一度刷新A股 市场最年轻董事长的纪录。 戴斯觉此次辞任距其上任约四年半，他接手于"无糖风口"的鼎盛时期，随后经历了行业周期性波动和欧 盟反倾销调查的严峻挑战。 值得注意的是，尽管保龄宝在2024年及2025 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600623 900909 股票简称：华谊集团 华谊B股 编号：2025-056 上海华谊集团股份有限公司关于 美国商务部对公司下属子公司反倾销调查案的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 公司在定期报告中持续披露了美国商务部对公司下属子公司中国北美轮胎联合销售公司（以下简称"北 美销售公司"）进行反倾销调查的进展情况，并累计计提预计负债2984万美元。近日，北美销售公司陆 续收到美国海关和边境保护局寄来的账单。现将有关情况公告如下： 特此公告。 上海华谊集团股份有限公司 董 事 会 二○二五年十一月十三日 美国商务部于2014年对北美销售公司进行反倾销调查，拟对其从中国进口的OTR（非公路用轮胎）征收 反倾销税。2017年2月，国际贸易法院对中国载重胎反倾销税的案件做出胜诉的裁决。2019年11月，美 国商务部就该项裁决向联邦巡回上诉法院提起上诉。2021年6月，联邦巡回上诉法院推翻了2017年2月国 际贸易法院的裁决，该案件被发回国际贸易法院继 ...

Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - Steel mills' profitability has continued to decline, falling below 40% this week. Pig iron production has slightly decreased due to the decline in steel mills' profitability and is expected to continue this downward trend. The demand for ferroalloys is expected to decline, and the inventory of the five major steel products has increased more than seasonally. Ferroalloys also have high inventory levels, facing significant pressure to reduce inventory. After the macro - sentiment settles, ferroalloys will return to the fundamentals of high inventory and weak demand, but the price will be supported by the cost side. It is expected that ferroalloys will fluctuate [5]. 3. Summary by Related Catalogs 3.1 Ferroalloy Price Range Forecast - **Silicon iron**: The monthly price range is predicted to be 5300 - 6000, with a current 20 - day rolling volatility of 12.75% and a 3 - year historical percentile of 18.8% [3]. - **Silicon manganese**: The monthly price range is predicted to be 5300 - 6000, with a current 20 - day rolling volatility of 9.62% and a 3 - year historical percentile of 4.4% [3]. 3.2 Ferroalloy Hedging - **Inventory management**: When the finished product inventory is high and there is concern about a decline in ferroalloy prices, for a long - position in the spot market, it is recommended to sell SF2601 and SM2601 futures contracts with a hedging ratio of 15%. The suggested entry range is SF: 6200 - 6250 and SM: 6400 - 6500 [3]. - **Procurement management**: When the procurement of regular inventory is low and there is a need to purchase according to orders, for a short - position in the spot market, it is recommended to buy SF2601 and SM2601 futures contracts with a hedging ratio of 25%. The suggested entry range is SF: 5200 - 5300 and SM: 5300 - 5400 [3]. 3.3 Core Contradictions - **Contradiction between high inventory and weak demand**: Ferroalloy production profits are gradually declining, and the market has low expectations for further production increases. Downstream demand is about to enter the off - season, and ferroalloy inventory is at a high level. Both silicon iron and silicon manganese enterprise inventories are at their highest levels in the past 5 years. Silicon manganese enterprise inventory has increased by 1.5% month - on - month, and silicon iron enterprise inventory has increased by 9.3% month - on - month, facing significant inventory pressure [4]. - **Challenge of cost support**: Recently, the correlation between coking coal prices and ferroalloy prices has been gradually weakening. The increase in coking coal prices has not driven up ferroalloy prices [4]. - **Contradiction between anti - involution expectations and weak reality**: The anti - involution tone remains, and the market still has some enthusiasm. There are still certain expectations for supply - side contraction, but the high inventory of ferroalloys and weak downstream demand remain unchanged. The market's long - and short - term logic lies in the game between strong expectations and weak reality, and there is a high risk of a price increase followed by a decline due to the lack of substantial action [4]. 3.4利多 and 利空解读 - **Positive factors**: The Ministry of Industry and Information Technology has solicited public opinions on the "Implementation Measures for Capacity Replacement in the Iron and Steel Industry (Draft for Comment)", which mentions that the capacity replacement ratio for ironmaking and steelmaking in each province (autonomous region, municipality) should be no less than 1.5:1. The fourth round of price increases for coke has started. In October, China exported 828,000 vehicles, and from January to October, the cumulative export was 6.513 million vehicles, a year - on - year increase of 23.3%. In October, China exported 443 ships, and from January to October, the cumulative export was 5660 ships, a cumulative year - on - year increase of 20.5%. In the first 10 months, China's exports of mechanical and electrical products reached 13.43 trillion yuan, an increase of 8.7% [6]. - **Negative factors**: The steel market is in the peak season but with weak performance. The profitability of steel mills has declined significantly, and the negative feedback pressure is gradually increasing. Pig iron production has continued to decline. The coil and plate segment still has high inventory and high production. Although production has decreased month - on - month, it is still at the highest level in the same period in the past 5 years. The consumption side lacks driving force, and the inventory has increased more than seasonally, reaching the highest level in the same period in the past 5 years. Recently, Thailand has launched an anti - dumping investigation on domestic steel plates [6]. 3.5 Daily Data - **Silicon iron**: On November 10, 2025, the basis in Ningxia was - 26, with a daily increase of 60 and a weekly decrease of 56. The warehouse receipts were 7197, with a daily increase of 1498 and a weekly increase of 2688 [6]. - **Silicon manganese**: On November 10, 2025, the basis in Inner Mongolia was 210, with a daily increase of 38 and a weekly decrease of 28. The warehouse receipts were 16357, with a daily increase of 1999 and a weekly increase of 6337 [7][8].