瑞尔特 20250827 摘要 瑞尔特 2025 年上半年营收同比下滑 18%，归母净利润同比下降 6.8%，主要受市场竞争激烈、新房需求疲软及国补政策执行差异影响。 智能坐便器及盖板品类和国内市场是主要下滑因素，而海外市场虽受关 税影响仍略有增长。 公司经销商渠道网点数增长不明显，重心转向门店升级和品类丰富。新 渠道拓展主要集中在京东线下自营店，符合预期。汇兑损益对利润产生 负面影响，上半年汇兑亏损近 80 万元，较去年同期减少五六百万元收 益。 关税对公司出货造成短期影响，但通过与客户分摊，仍保持一定利润率。 国内代工业务主要客户面临压力，订单占比下降，预计全年订单量将比 去年减少约 2/3，对公司业绩构成挑战。 上半年智能马桶整体销售额下降超 20%，代工部分大幅减少，自有品牌 销量与去年基本持平但均价下滑。轻智能产品市场需求集中在特定价格 区间，全智能产品仍为主流，国补政策对其影响有限。 Q&A 放，导致收入承压。具体产品方面，占公司总营收比重 57%左右的智能坐便器 及盖板品类下降了 22%左右。地区方面，占总营收比重 63%左右的国内市场 下降了 27%左右，主要是国内代工业务下降所致，而品牌端整 ...

天眼查App显示，近日，六安唯嘉卫浴有限公司成立，法定代表人为魏加露，注册资本5万人民币，经 营范围为一般项目：卫生洁具销售；厨具卫具及日用杂品批发；个人卫生用品销售；卫生陶瓷制品销 售；厨具卫具及日用杂品零售；日用品销售；建筑材料销售；建筑装饰材料销售；家具安装和维修服务 （除许可业务外，可自主依法经营法律法规非禁止或限制的项目）。 ...

智通财经记者 | 袁颖琪 全球卫浴毛巾架赛道的领跑者艾芬达上市之路并不平坦。这家由吴氏三兄弟于2005年共同创立的公司，经历了三年漫长等待和三次审核中止，今年6月才拿 到注册生效批文。 此次IPO，艾芬达计划发行不超过2167万股，募集资金6.65亿元，主要用于毛巾架自动化生产线建设和补充流动资金。 艾芬达近年来财务数据呈现出良好的增长态势：2022年至2024年，营业收入年均复合增长率为17.36%，扣非净利润年均复合增长率达19.92%。今年上半 年，艾芬达营业收入和归母净利润分别增长了7.53%和35.53%。 然而，业绩增长背后，艾芬达也面临着自有品牌建设困境、短期偿债压力加大、研发能力不足等多项挑战。 大客户依赖与自有品牌困境 艾芬达的业务呈现典型的外贸依赖特征，近年外销与代工比例持续攀升。2022–2024年，艾芬达境外收入占营业收入的比例分别为92.37%、92.42%、 95.53%。同期，ODM代工收入占比分别为95.75%、95.25%、97.23%。 招股书显示，英国单一市场为艾芬达贡献的收入长期保持在60%以上，前五大客户收入占比2024年为43%左右。主要客户包括翠丰集团、塔维博金集 ...

据证券之星公开数据整理，近期箭牌家居（001322）发布2025年中报。截至本报告期末，公司营业总收 入28.37亿元，同比下降8.12%，归母净利润2844.14万元，同比下降25.15%。按单季度数据看，第二季 度营业总收入17.87亿元，同比下降8.51%，第二季度归母净利润1.02亿元，同比下降20.86%。本报告期 箭牌家居公司应收账款体量较大，当期应收账款占最新年报归母净利润比达603.48%。 其他流动负债变动幅度为-36.77%,原因:期末信用等级较低的银行承兑汇票减少。 本次财报公布的各项数据指标表现一般。其中，毛利率29.47%，同比增9.01%，净利率0.94%，同比减 19.41%，销售费用、管理费用、财务费用总计6.24亿元，三费占营收比21.98%，同比增12.97%，每股净 资产4.88元，同比减3.49%，每股经营性现金流-0.54元，同比增12.05%，每股收益0.03元，同比减 24.11% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 30.88 亿 | 28.37亿 | ...

登录新浪财经APP 搜索【信披】查看更多考评等级 所有董事均已出席了审议本报告的董事会会议。 非标准审计意见提示 □适用 √不适用 董事会审议的报告期利润分配预案或公积金转增股本预案 证券代码：001322 证券简称：箭牌家居 公告编号：2025-045 一、重要提示 本半年度报告摘要来自半年度报告全文，为全面了解本公司的经营成果、财务状况及未来发展规划，投 资者应当到证监会指定媒体仔细阅读半年度报告全文。 □适用 √不适用 公司计划不派发现金红利，不送红股，不以公积金转增股本。 董事会决议通过的本报告期优先股利润分配预案 □适用 √不适用 公司是否需追溯调整或重述以前年度会计数据 □是 √否 ■ 3、公司股东数量及持股情况 单位：股 ■ 注1：公司股东、实际控制人谢岳荣先生上述股份被司法冻结系其为西安市乐华恒业泾河新城房地产开 发项目合作框架协议项下的义务提供连带责任担保，因相关合同发生纠纷并正在仲裁中，导致上述股份 冻结，谢岳荣先生已督促协议各方积极交涉，争取早日解决诉争事宜，具体情况详见公司2024年4月2日 于巨潮资讯网（http://www.cninfo.com.cn/）等披露的《关于股东股份冻结的 ...

Financial Performance - In the first half of 2025, the company's operating revenue was 2.837 billion CNY, a year-on-year decrease of 8.12% [1] - Gross profit margin was 29.47%, an increase of 2.43 percentage points year-on-year [1] - Net profit decreased by 25.96% year-on-year [1] - The company's net profit after deducting non-recurring gains and losses increased by 6.33% year-on-year [2] Revenue Breakdown - Domestic main business revenue was 2.726 billion CNY, a year-on-year decrease of 5.83%, accounting for 97.37% of total revenue [2] - Retail revenue was 1.138 billion CNY, a year-on-year increase of 4.22% [2] - E-commerce revenue was 576 million CNY, a year-on-year decrease of 7.85%, accounting for 20.59% of total revenue [2] - Home decoration channel revenue was 462 million CNY, a year-on-year decrease of 3.51%, accounting for 16.51% [2] - Engineering channel revenue was 549 million CNY, a year-on-year decrease of 21.35%, accounting for 19.62% [2] Cost and Expenses - Operating expenses increased by 1.19%, with selling expenses rising by 5.41% due to increased strategic investments in overseas markets [3] - The increase in operating expenses led to a 2.53% rise in the expense ratio [3] Market and Strategy - The fluctuation in the new housing market has impacted demand growth in the bathroom industry, but the demand from existing housing continues to be released [3] - The company plans to focus on retail channel construction and refine operational management, expanding the store efficiency enhancement project [3][4] - The company is actively pursuing international expansion, establishing partnerships with local distributors and expanding its online sales through overseas e-commerce platforms [4] Policy Impact - The national subsidy policy has positively influenced the company's sales structure and gross profit margin [4] - The clarity of the national subsidy policy affects the company's operational strategy, but the ongoing refinement of management is deemed more critical [4]

注意尺寸匹配。一体式需要注意坑距，分体式智能坐便器购买前需要测量家中已有坐便器的实际尺寸。 注意用电安全。查看智能坐便器铭牌标识中的额定输入功率或额定电流，判定是否与家中的线路相互匹 配，并且请正规厂家上门安装维修，确保消费者用电安全。 注意使用模拟。实体店选购时建议通电检查，查看各项功能是否正常，操作（遥控器、按钮、旋钮等） 是否方便，运行是否有较大的噪声和震动，坐圈加热温度是否合适，温度升高后是否有异常气味等。 注意节水节能。查看水效标识确定产品的节水、节能性。智能坐便器的水效能效等级共分为3级，其中3 级节水节能效果最差，1级节水节能效果最好。 注意附加功能。除了臀部清洗、坐圈加热、妇女清洗、烘干功能等基础功能外，夜灯、自动除臭、通 便、自动开盖等功能也很实用，消费者可以根据自己的预算按需选购。 新京报讯（记者陈琳）8月14日，河北省消费者权益保护委员会联合北京阳光消费大数据研究院发布智 能坐便器商品比较试验结果。结果显示，8个智能坐便器样本全部符合相应标准要求。 本次比较试验以普通消费者身份，在石家庄线下实体店随机购买8个品牌智能坐便器，价格从7999元到 21999元不等。样品分别为：九牧（ZD96 ...

Group 1 - The core viewpoint is that the consumer goods industry is a traditional advantage and important livelihood industry in China, significantly contributing to economic growth and foreign trade exports [1] - In the first half of the year, the added value of the consumer goods industry and the value of export delivery accounted for 27.1% and 25.1% of the total industrial output, respectively [1] - The digitalization of light industry enterprises has reached a tool penetration rate of 86.2%, with management digitalization at 82.3%, laying a strong foundation for the mass production of high-value-added products [1] Group 2 - The textile industry has achieved a numerical control rate of key processes at 65.6% and a digital design tool penetration rate of 84.3% as of the first half of the year [2] - The average carbon emission intensity in the textile and apparel industry has decreased by over 14% in the past two years, indicating ongoing efforts in energy conservation and carbon reduction [2] - The Ministry of Industry and Information Technology has implemented digital transformation plans across various industries, including textiles, light industry, food, and pharmaceuticals, focusing on 82 typical scenarios for intelligent transformation [2]

Group 1 - The core viewpoint emphasizes the importance of technological factors in PEST analysis, highlighting the impact of emerging technologies like IoT, AI, VR, cloud computing, and big data on various industries [2] - The analysis should focus on future trends rather than just historical data, as understanding past changes is essential for predicting future developments [3] - The necessity of deriving conclusions from PEST analysis is stressed, as merely listing facts without actionable insights renders the analysis ineffective [4] Group 2 - The primary goal of environmental analysis is to identify opportunity points arising from changes in trends, recognizing that opportunities and threats coexist [5] - It is important to document the opportunities and threats clearly, noting how specific changes lead to these outcomes [5]

Core Viewpoint - The company aims to become a global leader in bathroom space and home water system solutions, focusing on smart bathroom products and prefabricated bathroom space solutions [2][5]. Company Developments - The company held a performance briefing on May 15, 2025, to discuss its business strategies and market positioning [1]. - The company is actively involved in the development of the T/CS991.9-2025 standard for smart toilets, which aims to enhance product quality and industry standards [3][4]. - The company has not yet released a "Quality Double Improvement" action plan but is committed to improving quality and innovation as core competitive advantages [4]. Financial Performance - In Q1 2025, the company reported a main revenue of 412 million yuan, a year-on-year decrease of 21.24%, and a net profit of 21.48 million yuan, down 63.31% year-on-year [6]. - The company’s gross profit margin stood at 24.69%, with a debt ratio of 18.84% [6]. Market Outlook - Analysts have given 10 ratings for the stock in the last 90 days, with 9 buy ratings and 1 hold rating, indicating a generally positive outlook [7]. - The average target price from analysts over the past 90 days is 9.39 yuan [7]. Future Projections - Forecasts for net profit in 2025 range from 1.48 billion to 2.11 billion yuan, with projections for 2026 and 2027 showing continued growth [8].