2025年上半年，老板电器在行业周期调整中保持战略定力，推进从"厨电专家"向"烹饪伙伴"的角色转 变，聚焦长期能力建设与生态布局，实现了可持续的高质量增长。 8月27日，老板电器发布半年报。数据显示，报告期内公司实现营业收入46.08亿元、归母净利润7.12亿 元、经营性现金流5.11亿元；第二季度营收与净利润同比分别+1.57%、+2.96%，核心财务指标保持稳 健，凸显经营韧性。同时，公司宣布中期分红每10股派5元、合计4.72亿元，持续回报股东。 专业化深耕，以AI+烹饪领跑高成长赛道 从"厨电专家"到"烹饪伙伴"，老板电器始终重视科技创新与技术沉淀。截至2025年上半年，老板电器累 计获得专利6,325件，同比增长27.2%，其中发明专利同比大幅增长130.7%，近五年的专利复合增长率接 近50%。与此同时，公司共参与各类标准制修订161项，主导45项。 这一优势直接体现于大模型的研发与应用中。目前，老板电器自研的AI烹饪大模型"食神"用户数已突破 540万，新增的AI舌诊、热量识别及"食神日报"功能，极大增强了用户黏性。为深化AI商业化落地并拓 展技术边界，公司今年7月还成立了杭州人工智能研究院，聚 ...

4月29日披露的最新财报显示，高端厨电领导品牌老板电器在2024年实现稳健增长。2024年公司实现营收 112.13亿元，归母净利润15.77亿元。 从营收和利润规模上看，老板电器继续稳居国内厨电上市公司第一名。2024年，老板电器一方面"逆风前 行" 在吸油烟机、燃气灶、线上厨电套餐等多个品类市场份额位居行业第一， 进一步稳固龙头地位。 另一方面，老板电器 主动拥抱AI变革进行"逆周期进化"，以求穿越周期。 老板电器能够逆周期实现稳健 业绩，与其在2024年开启"AI+转型元年"密不可分，正全面由传统家电制造业品牌向"烹饪全链路整体解 决方案提供商"进化。 深究最新发布的财报，也不难发现老板电器最新浮现的增长动力。老板电器在2024年首次进入商用厨房 市场。商用厨房市场规模已近千亿，但品牌集中度极低，头部企业仅占1%市场份额，呈现"大市场、小品 牌"特点。老板电器聚焦智能化商用厨电为餐饮客户降低经营成本，有望在这个 细分市场上实现高增长， 为公司打造新增长曲线。 2024财年老板电器继续坚持分红，每10股派发现金红利5元。老板电器自上市以来累计分红63.76亿元（含 2024年度分红），超过其总募资金额的6 ...

Core Viewpoint - In 2024, under pressure from overall growth in the Chinese kitchen appliance industry, the company Robam Appliances (老板电器) has embraced AI comprehensively, driving the transformation of "AI + Cooking" and achieving stable operations [1] Group 1: Financial Performance - In 2024, Robam Appliances achieved a total revenue of 11.213 billion yuan and a net profit of 1.577 billion yuan [1] - The company plans to continue high dividend payouts, having distributed a total of 6.376 billion yuan in dividends since its listing, reflecting confidence in long-term operations [1] Group 2: Market Trends and Policies - The kitchen appliance industry entered a deep adjustment period in the first three quarters of 2024, with a structural development trend, but showed signs of recovery in the fourth quarter due to the "National Subsidy" policy [1] - The overall retail sales of the Chinese kitchen and bathroom market reached 176.4 billion yuan in 2024, with a year-on-year growth of 5.7% [2] - The implementation of the National Subsidy policy has strengthened Robam's industry-leading position, with the top 10 brands' retail sales concentration increasing to 82.8%, up 2% year-on-year [2] Group 3: Product Leadership - Robam Appliances continues to lead the industry in core categories, with offline sales of range hoods accounting for 32.06% and gas stoves for 31.73%, both ranking first in the industry [2] - The company has achieved a 108% growth rate in key account channels within three months of the National Subsidy policy's implementation [2] Group 4: Innovation and Expansion - In 2024, Robam Appliances focused on the North American market, establishing a subsidiary and participating in the KBIS exhibition, with over 100 local outlets [3] - The company has entered the commercial kitchen market, which is nearly 100 billion yuan in size but has low brand concentration [3] - The government report emphasizes the integration of "Artificial Intelligence +" with consumer scenarios, and Robam has achieved breakthroughs in AI + cooking, evolving into a provider of comprehensive cooking solutions [3] - The company has established a digital kitchen appliance research institute and a Chengdu research institute, focusing on AI software development, with nearly 900 technical personnel [4]