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森鹰窗业: 关于调整2023年限制性股票激励计划公司层面业绩考核目标并修订相关文件的公告
Zheng Quan Zhi Xing· 2025-06-22 08:40
Core Viewpoint - The company has adjusted the performance assessment targets for its 2023 restricted stock incentive plan to ensure its smooth implementation and to motivate the participants effectively [2][10][14]. Summary by Sections Incentive Plan Overview - The 2023 restricted stock incentive plan involves granting 1.8 million shares, accounting for 2.32% of the company's total share capital of 94.8 million shares [2][3]. - The plan is designed for middle management and core business personnel, excluding directors, senior management, and significant shareholders [3][5]. Performance Assessment Adjustments - The performance assessment targets for the company level in 2025 have been adjusted based on actual operating conditions [2][10]. - The original target for 2023 was set at 1.02 billion yuan, with a trigger value of 930 million yuan [9][10]. - The adjusted targets will now consider revenue growth rates compared to 2024, enhancing the scientific and rational basis of the performance goals [11][12]. Market Conditions - The company faces external challenges such as a downturn in the real estate market, leading to reduced demand in the mid-to-high-end window retail sector [10][11]. - The overall retail sales of building and decoration materials have declined by 3.85% year-on-year, reflecting a broader market contraction [10]. Internal Strategy - The company aims to transition from bulk business channels to retail channels, which is crucial for its growth strategy [11][12]. - The adjustments in the incentive plan are intended to stimulate employee motivation and align with the company's strategic goals [12][14]. Compliance and Approval - The adjustments have been reviewed and approved by the board of directors and the supervisory board, ensuring compliance with relevant regulations [13][15]. - Legal opinions confirm that the adjustments do not harm the interests of the company or its shareholders [14][15].
森鹰窗业: 哈尔滨森鹰窗业股份有限公司2025年限制性股票激励计划(草案)
Zheng Quan Zhi Xing· 2025-06-22 08:40
Core Points - The core point of the article is the proposed 2025 Restricted Stock Incentive Plan by Harbin Senying Window Industry Co., Ltd, which aims to enhance corporate governance, attract and retain talent, and align the interests of shareholders and the core team [10][11]. Group 1: Incentive Plan Overview - The incentive plan involves granting 4 million restricted stocks, accounting for 4.20% of the company's total share capital of 95.2305 million shares [2][3]. - The plan is designed for 98 eligible participants, including middle management and core technical personnel, excluding independent directors and major shareholders [4][13]. - The grant price for the restricted stocks is set at 13.10 yuan per share [4][19]. Group 2: Performance Targets - The performance targets for the incentive plan include a revenue growth rate of 8.5% for 2025 and 17% for 2026, with trigger values of 6.0% and 12% respectively [6][24]. - If the revenue growth rate meets the target, the vesting ratio will be 100%, while failure to meet the trigger value results in forfeiture of the stocks [6][22]. Group 3: Vesting Schedule - The vesting period for the restricted stocks is set for a maximum of 36 months, with stocks vesting in two equal tranches after 12 months [4][17]. - The first tranche of 50% vests after 12 months, and the second tranche vests after 24 months [4][17]. Group 4: Governance and Compliance - The plan requires approval from the shareholders' meeting and is subject to oversight by the board of directors and the supervisory board [10][11]. - The company commits not to provide loans or financial assistance to participants in the incentive plan [8][11]. Group 5: Adjustments and Accounting - Adjustments to the number and price of restricted stocks may occur due to corporate actions such as stock splits or dividends [26][27]. - The accounting treatment for the restricted stocks will follow the relevant financial regulations, with costs recognized over the vesting period [29][30].
森鹰窗业: 第九届监事会第十七次会议决议公告
Zheng Quan Zhi Xing· 2025-06-22 08:19
Group 1 - The company held its 17th meeting of the 9th Supervisory Board on June 20, 2025, which was legally convened and hosted by Chairwoman Zhao Lili [1] - The Supervisory Board approved the draft of the 2025 Restricted Stock Incentive Plan, believing it aligns with relevant laws and regulations and will benefit the company's sustainable development without harming the interests of shareholders, especially minority shareholders [1][2] - The board also approved the implementation assessment management measures for the 2025 incentive plan, which are designed to ensure smooth execution and establish a balanced value distribution system [2] Group 2 - The Supervisory Board verified the list of incentive objects for the 2025 plan, confirming that all candidates meet the qualifications set forth in relevant regulations and have not been disqualified in the past 12 months [2][3] - The company will publicly announce the names and positions of the incentive objects at least 10 days before the shareholders' meeting [3][4] - The board approved adjustments to the performance assessment targets for the 2023 incentive plan, stating that the changes are based on the company's current operational situation and are aimed at enhancing employee motivation [4][5]
破发股森鹰窗业1年1期均亏损 2022年上市国联民生保荐
Zhong Guo Jing Ji Wang· 2025-06-13 03:26
Core Viewpoint - The financial performance of Senying Windows (森鹰窗业) for the year 2024 shows significant declines in revenue and net profit compared to the previous year, indicating potential challenges for the company moving forward [1][2]. Financial Performance Summary - The company's operating revenue for 2024 was 567 million yuan, a decrease of 39.71% year-on-year [1][2]. - The net profit attributable to shareholders was -42.19 million yuan, compared to a profit of 14.60 million yuan in the previous year, marking a decline of 128.90% [1][2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -56.74 million yuan, down 144.42% from 12.77 million yuan in the previous year [1][2]. - The net cash flow from operating activities was 12.43 million yuan, a decrease of 16.32% year-on-year [1][2]. Q1 2025 Performance Summary - In the first quarter of 2025, the company reported an operating revenue of 63.81 million yuan, a decline of 27.96% compared to the same period last year [3]. - The net profit attributable to shareholders for Q1 2025 was -7.98 million yuan, worsening from -1.76 million yuan in the previous year, reflecting a decline of 353.01% [3]. - The net cash flow from operating activities improved to 10.37 million yuan, compared to -17.54 million yuan in the same quarter of the previous year, indicating a 159.10% increase [3]. IPO and Fundraising Information - Senying Windows publicly issued 23.70 million shares, raising a total of 906.53 million yuan, with a net amount of 823.70 million yuan after expenses [4]. - The company initially planned to raise 673.46 million yuan for projects related to energy-efficient wooden windows and working capital [4]. - The total issuance costs amounted to 82.82 million yuan, including underwriting fees of 56.39 million yuan [4].
研判2025!中国节能门窗行业政策汇总、产业链、发展现状、竞争格局及发展趋势分析:老旧小区改造数量增加,为节能门窗行业带来新的需求[图]
Chan Ye Xin Xi Wang· 2025-05-24 02:16
Core Viewpoint - The energy-saving window industry is gaining traction as a key component of green buildings, driven by rising living standards, government policies, and increasing demand for energy-efficient solutions [1][4][12]. Industry Overview - Energy-saving windows are defined as those utilizing advanced technologies and materials to enhance insulation and airtightness, effectively reducing energy consumption and environmental impact [3]. - The market size of the energy-saving window industry reached 260 billion yuan in 2023, but is expected to decline in 2024 due to weak retail consumption influenced by the real estate market and budget cuts [1][12]. - By 2025, the market size is projected to rebound to 270 billion yuan, supported by ongoing green building initiatives and the demand for the renovation of old residential areas [1][12]. Policy Support - The Chinese government has recognized the importance of energy-saving windows, implementing various policies to promote their development, including the "Green Building Industry High-Quality Development Implementation Plan" and the "2024-2025 Energy Saving and Carbon Reduction Action Plan" [4][7]. - Specific targets include increasing the area of energy-saving renovations by over 200 million square meters by the end of 2025 and improving energy efficiency rates for residential and public buildings [4][7]. Industry Chain - The upstream of the energy-saving window industry includes key materials such as main profiles, glass, hardware accessories, and sealing strips, while the downstream encompasses applications in real estate, decoration, and home renovation [8]. Competitive Landscape - Major companies in the energy-saving window sector include Harbin Senying Window Industry Co., Ltd., Anhui Conch Environmental Protection New Materials Co., Ltd., and Guangdong Huangpai Custom Home Group Co., Ltd., among others [16][17]. Development Trends - There is a growing demand for customized energy-saving windows as consumers seek personalized decoration and functionality [21]. - The industry is also witnessing an acceleration in the adoption of smart technologies, with intelligent energy-saving windows becoming an integral part of smart home systems [22]. - The push for carbon neutrality and energy efficiency is expected to further drive the market for high-performance energy-saving windows, such as those made with thermal break aluminum and Low-E glass [23].
森鹰窗业:外部市场环境对公司大宗业务影响较大 多渠道提高企业核心竞争力
Zheng Quan Shi Bao Wang· 2025-05-23 07:32
Core Viewpoint - The company reported significant declines in revenue and profit for the year 2024, indicating challenges in the external market environment and a need for strategic adjustments to improve competitiveness and capitalize on market opportunities [1][2][3]. Financial Performance - For the year 2024, the company achieved a revenue of 567 million yuan, a decrease of 39.71% year-on-year [1]. - The net profit was -42.19 million yuan, down 128.90% compared to the previous year [1]. - The non-recurring net profit was -56.74 million yuan, reflecting a decline of 144.42% year-on-year [1]. - The gross margin for the main business was 19.31%, a decrease of 15.10 percentage points year-on-year [1]. - The net cash flow from operating activities was 124 million yuan, down 16.32% from the previous year [1]. Business Model Analysis - The bulk business model generated revenue of 277 million yuan, a decline of 47.08%, with a gross margin decrease of 14.95% [1]. - The distributor business model brought in 275 million yuan, down 31.45%, with a gross margin decrease of 15.09% [1]. - Revenue from energy-efficient aluminum-clad wooden windows was 383 million yuan, a decrease of 51.53%, with a gross margin decline of 14.32% [1]. - Revenue from aluminum alloy windows increased by 27.17% to 146 million yuan, but the gross margin decreased by 8.12% [1]. - Curtain wall and sunroom products saw a revenue increase of 7.27%, although the gross margin declined by 10.96% [1]. Market Environment and Opportunities - The external market environment has significantly impacted the company's bulk business, particularly in aluminum-clad wooden window sales [2]. - The window industry faces challenges but also opportunities due to the dual carbon strategy, which promotes green, low-carbon, and energy-efficient building practices [2]. - The demand for home improvement is becoming a key support for the new housing market, with potential in the renovation market [2]. - There is still significant room for improvement in industry concentration, with leading companies expected to capture more market share [2]. Future Outlook and Strategy - The company anticipates a gradual recovery in the real estate market, supported by policy initiatives that restore market confidence [3]. - The company plans to enhance its core competitiveness through R&D, design innovation, and improved service levels [3][4]. - Strategies include increasing product awareness, implementing a multi-category sales strategy, and expanding into international markets [4]. - The company aims to improve supply chain capabilities and production efficiency while reducing costs through technological upgrades and increased R&D investment [4]. - The company has revised its fundraising projects to focus on enhancing production capacity for energy-efficient window components [5].
森鹰窗业(301227) - 2024年度业绩说明会投资者关系活动记录表
2025-05-22 12:02
Group 1: Company Performance and Financials - In 2024, the company's revenue from bulk business decreased by 47.08% to CNY 277 million, with a gross margin decline of 14.95% [4] - Revenue from the dealer business model fell by 31.45% to CNY 275 million, with a gross margin decrease of 15.09% [4] - Revenue from energy-saving aluminum-clad wooden windows dropped by 51.53% to CNY 383 million, with a gross margin decline of 14.32% [5] - Revenue from aluminum alloy windows increased by 27.17% to CNY 146 million, but gross margin decreased by 8.12% [5] - Overall, the external market environment significantly impacted the company's bulk business, particularly in aluminum-clad wooden window sales [5] Group 2: Market Trends and Opportunities - The energy-saving window industry is undergoing transformation due to the dual carbon strategy, promoting green, low-carbon, and energy-efficient buildings [4][5] - The demand for improvement housing is becoming a key support for the new housing market, with the "old-for-new" renovation market gaining momentum [4] - The market penetration and popularity of high-performance window products remain low, indicating a significant opportunity for growth [4][5] - The industry still has substantial room for improvement in concentration, with leading companies expected to capture more market share [4][5] Group 3: Strategic Initiatives - The company plans to enhance product recognition and brand awareness through a multi-category, large single product, and full-channel sales strategy [3] - There is a focus on channel transformation, expanding the distribution network, and flagship operations in key cities [3] - The company aims to improve supply chain capacity and efficiency through investment in projects related to insulating glass and integrated materials [3] - Continuous innovation and increased R&D investment are prioritized to develop cost-effective products that meet market demands [3] Group 4: Future Outlook - The real estate market is showing signs of gradual recovery after adjustments, with improved market confidence and expectations for demand and supply [5] - The company will leverage industry trends such as increased energy efficiency requirements and accelerated demand for renovation to enhance its competitive edge [5] - The focus will be on providing comprehensive solutions for building openings, improving product diversity, and enhancing management efficiency [5]
森鹰窗业: 关于首次回购公司股份暨回购股份进展的公告
Zheng Quan Zhi Xing· 2025-05-19 10:34
证券代码:301227 证券简称:森鹰窗业 公告编号:2025-050 一、首次回购股份的具体情况 交价为17.70元/股,成交总金额为人民币154,420.00元(不含交易费用)。本次 回购符合公司回购股份方案及相关法律法规的要求。 二、其他说明 哈尔滨森鹰窗业股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整,没有 虚假记载、误导性陈述或重大遗漏。 重要内容提示: 自筹资金以集中竞价交易方式回购公司部分人民币普通股A股股份(以下简称 "本次回购"),用于后期员工持股计划或股权激励计划的实施。若公司未能 自本次回购实施完成之日起三年内将已回购的股份用于前述用途的,未使用部 分的回购股份将履行相关程序予以注销。本次用于回购的资金总额为不低于人 民币1,000万元(含),不超过人民币2,000万元(含),具体回购资金总额以实 际使用的资金总额为准。具体回购股份的数量以回购结束时实际回购的股份数 量为准。本次回购股份期限为自公司股东大会审议通过本次回购方案之日起不 超过12个月。具体内容详见公司分别于2025年3月18日和2025年4月15日披露于 巨潮资讯网(www.cninfo.com.c ...
森鹰窗业(301227) - 2025年5月14日投资者关系活动记录表
2025-05-14 14:06
Market Position and Competition - The aluminum-clad wooden window industry has a low concentration with a CR5 of less than 2%, and the company's market share is only 0.3% [2] - The company has established strong competitive barriers through core technology, production processes, and a nationwide sales network [3] - The company's products have a higher retail price compared to competitors due to superior performance in thermal transmittance, air tightness, and water tightness [3] Financial Performance - In 2024, revenue from energy-saving aluminum-clad wooden windows decreased by 51.53% to 383 million yuan, with a gross margin decline of 14.32 percentage points [4] - The overall revenue for 2024 dropped by 39.71% to 567 million yuan, and the net profit turned to a loss of 42.19 million yuan [13] - The company's cash flow improved, with operating cash flow turning positive at 10.36 million yuan in Q1 2025 [8] Product Development and Innovation - The company has developed a range of passive building products, with nearly 20 products certified by Germany's PHI [3] - New product lines, including pure plastic windows and aluminum-clad plastic windows, are being developed to target the renovation market [9] - The company plans to enhance its digital transformation and supply chain management through the implementation of MES systems [5] Strategic Initiatives - The company aims to increase its overseas revenue share to 20%-25% by 2028, focusing on markets like North America and Australia [7] - A strategy to expand terminal store layouts and improve single-store output is being implemented [10] - The company is adjusting its traditional bulk business scale, reducing its proportion from 60% to 50% in 2024 [10] Risk Management - The company emphasizes strengthening accounts receivable management, especially in light of extended payment cycles from real estate clients [14] - A cautious approach to bad debt provisions is maintained, with 100% provisions for receivables over three years old [14] Shareholder Returns - The company plans to maintain a cash dividend of no less than 30% of distributable profits, but due to losses in 2024, cash dividends are not feasible [15]
森鹰窗业: 民生证券股份有限公司关于哈尔滨森鹰窗业股份有限公司2024年度持续督导现场检查报告
Zheng Quan Zhi Xing· 2025-05-13 08:21
Group 1 - The company, Harbin Senying Window Industry Co., Ltd., experienced a significant decline in revenue, with a year-on-year decrease of 39.71% due to the downturn in the real estate market [3] - The net profit attributable to shareholders turned negative, amounting to -42.19 million yuan, indicating a shift from profit to loss compared to the previous year [3] - The company's accounts receivable ratio stands at 14.39%, with major clients being real estate developers, which exposes the company to accounts receivable impairment risks due to the real estate market decline [3] Group 2 - The company is under continuous observation by the sponsor institution, which will monitor its performance and ensure compliance with information disclosure obligations [3] - The sponsor institution emphasizes the need for the company to strengthen its collection of receivables and actively improve its operational results [3]