□本报记者 王歌 消费一头连着宏观经济，一头连着千家万户，是拉动经济的"三驾马车"之一。今年一季度，河南省社会 消费品零售总额7400.54亿元，同比增长7%，总额居全国第五位、增速居全国第三位，实现了"开门 红"。 "奋战二季度，确保'双过半'，河南将围绕'乐购河南·品质生活'主题，开展形式多样的提振消费活动。"4 月30日，在省政府新闻办召开的河南省奋战二季度确保"双过半"系列政策措施新闻发布会上，省商务厅 党组书记、厅长王振利介绍，在激发消费活力方面，省级层面安排1.5亿元资金，分3期发放零售、餐 饮、文旅、住宿消费券，所有在豫人员均可申领。"今天上午已进行了首发。"他说。 今年，我省加力扩围消费品以旧换新，全面开展汽车、家电、数码产品、家装厨卫、电动自行车等5个 领域补贴活动。王振利表示，下一步将继续加强统筹协调，优化工作流程，更好惠民便民。 此外，我省还将重点围绕精品购物、精致美食、精彩文旅、夜间消费等领域，举办形式多样的特色活 动，积极打造"一城一IP"夜消费品牌。 与消费并列，外贸也是拉动经济增长的"三驾马车"之一。作为外贸大省，今年前3个月，全省外贸进出 口总额2042.6亿元、同比增长28% ...

2025 年 04 月 30 日 公司研究 评级：增持(维持) | 研究所： | | | --- | --- | | 证券分析师： | 林昕宇 S0350522110005 | | | linxy01@ghzq.com.cn | | 证券分析师： | 赵兰亭 S0350524080004 | | | zhaolt@ghzq.com.cn | | 联系人 ： | 孙馨竹 S0350124060027 | | | sunxz@ghzq.com.cn | [Table_Title] 盈利水平保持稳健，分红比例维持高水平 ——奥普科技（603551）2024 年年报点评 | 相对沪深 300 表现 | | | 2025/04/29 | | --- | --- | --- | --- | | 表现 | 1M | 3M | 12M | | 奥普科技 | -3.2% | -3.6% | -1.0% | | 沪深 300 | -3.6% | -1.1% | 4.2% | | 市场数据 | | | 2025/04/29 | | 当前价格（元） | | | 10.22 | | 52 周价格区间（元） | | | 9.06-12. ...

中国经济网北京4月30日讯 A股三大指数今日早盘涨跌不一，沪指小幅调整，创业板指半日涨超 1%。截至午间收盘，上证综指报3283.97点，跌幅0.08%；深成指报9921.88点，涨幅0.73%；创业板指报 1951.43点，涨幅1.01%。 板块方面，厨卫电器、软件开发、IT服务等板块涨幅居前，银行、保险、电力等板块跌幅居前。 A股市场板块涨跌幅排行 | 序号 | 板块 | 涨跌幅(%)▼ | 总成交量 (万手) ▼ | 总成交额(亿元) ▼ | 净流入 (亿元) ▼ | 上涨家数 | 下跌家数 | | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 厨卫电器 | 3.79 | 63.64 | 11.71 | 1.47 | 8 | 1 | | 2 | 软件开发 | 2.80 | 1518.02 | 328.98 | 20.79 | 124 | 10 | | 3 | IT服务 | 2.64 | 2363.43 | 351.57 | 21.99 | 113 | 12 | | 4 | 自动化设备 | 2.61 | 480.57 | 126.97 | 11 ...

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6][17]. Core Views - The company achieved a revenue of 6.37 billion yuan in 2024, a year-on-year increase of 2.2%, and a net profit attributable to shareholders of 480 million yuan, up 8.4% year-on-year [1]. - The company is focusing on brand image enhancement and channel management improvement, aiming to discover growth potential through a multi-category and multi-brand matrix [4]. - The company plans to distribute a cash dividend of 3 yuan per 10 shares, totaling 250 million yuan, which accounts for 51% of the net profit attributable to shareholders for 2024 [1]. Financial Performance - In Q1 2025, the company reported a revenue of 1.26 billion yuan, a decrease of 8.8% year-on-year, and a net profit of 110 million yuan, down 14.33% year-on-year [1]. - The gross margin for 2024 was 40.7%, a slight decrease of 0.4 percentage points year-on-year, while the gross margin for Q1 2025 improved to 42.1% [3]. - The company expects net profits attributable to shareholders for 2025, 2026, and 2027 to be 510 million, 580 million, and 650 million yuan respectively [4]. Market and Product Insights - The company experienced stable growth in its core product categories, with the domestic smoke and stove categories showing increases of 7% and 5% respectively in 2024 [2]. - The new retail channel contributed significantly, with a revenue of 1.3 billion yuan in 2024, reflecting a year-on-year growth of 30% [2]. - The integrated stove market faced challenges, with a year-on-year decline in retail revenue of 30.6% [2]. Valuation Metrics - The projected P/E ratios for 2025, 2026, and 2027 are 10.7x, 9.5x, and 8.4x respectively [4]. - The company’s total market capitalization is approximately 5.48 billion yuan [7].

Investment Rating - The investment rating for the company is "Buy" [6][17] Core Views - The company achieved a revenue of 6.37 billion yuan in 2024, a year-on-year increase of 2.2%, and a net profit attributable to shareholders of 480 million yuan, up 8.4% year-on-year [1] - The company is focusing on brand image enhancement and channel management improvement, aiming to discover growth potential through a multi-category and multi-brand matrix [4] - The company plans to distribute cash dividends of 3 yuan per 10 shares, totaling 250 million yuan, which accounts for 51% of the net profit attributable to shareholders in 2024 [1] Financial Performance Summary - In Q1 2025, the company reported a revenue of 1.26 billion yuan, a year-on-year decrease of 8.8%, and a net profit of 110 million yuan, down 14.33% year-on-year [1] - The gross margin for 2024 was 40.7%, a decrease of 0.4 percentage points year-on-year, while the gross margin for Q1 2025 improved to 42.1%, an increase of 0.2 percentage points year-on-year [3] - The company expects net profits attributable to shareholders for 2025-2027 to be 510 million, 580 million, and 650 million yuan respectively, with corresponding P/E ratios of 10.7x, 9.5x, and 8.4x [4] Market and Product Insights - The domestic market for kitchen appliances, particularly range hoods and gas stoves, showed stable growth in 2024, with retail sales of range hoods increasing by 14.9% and gas stoves by 15.7% year-on-year [2] - The new retail channel contributed significantly to revenue, with a 30% year-on-year increase in new retail revenue, while online sales decreased by 6% [2] - The company is experiencing pressure in integrated products, with a 30.6% year-on-year decline in retail sales for integrated stoves [2]

| 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.0100 | 0.1200 | -108.33 | 0.2200 | | 每股净资产（元） | 10.49 | 10.86 | -3.41 | 10.63 | | 每股公积金(元) | 5.37 | 5.38 | -0.19 | 5.45 | | 每股未分配利润(元) | 3.60 | 4.00 | -10 | 3.75 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 0.49 | 1.17 | -58.12 | 1.75 | | 净利润(亿元) | -0.01 | 0.22 | -104.55 | 0.4 | | 净资产收益率(%) | -0.07 | 1.12 | -106.25 | 2.06 | 数据四舍五入，查看更多财务数据>> 二、前10名无限售条件股东持股情况 一、主要会计数据和财务指标 三、分红送配方案情况 本次公司不分配不转赠。 前十大流通股东 ...

帅丰电器（605336）公告，2025年第一季度营收为4895.06万元，同比下降58.31%；净亏损128.83万 元，去年同期净利润2223.34万元。 ...

宏观经济 | 动态跟踪 报告发布日期 2025 年 04 月 28 日 | 陈至奕 | 021-63325888*6044 | | --- | --- | | | chenzhiyi@orientsec.com.cn | | | 执业证书编号：S0860519090001 香港证监会牌照：BUK982 | | 孙金霞 | 021-63325888*7590 | | | sunjinxia@orientsec.com.cn | | | 执业证书编号：S0860515070001 | | 曹靖楠 | 021-63325888*3046 | | | caojingnan@orientsec.com.cn | | | 执业证书编号：S0860520010001 | | 孙国翔 | sunguoxiang@orientsec.com.cn | | | 执业证书编号：S0860523080009 | 积极迎战外部风险——4 月政治局会议解 读 2025-04-26 消费增长的量价拆解——月度宏观经济回 顾与展望 研究结论 有关分析师的申明，见本报告最后部分。其他重要信息披露见分析师申明之后部分，或请与您的投资代表联系。并 ...

| 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.3070 | 0.0326 | -1041.72 | 0.3773 | | 每股净资产（元） | 9.45 | 13.41 | -29.53 | 12.89 | | 每股公积金(元) | 4.72 | 6.28 | -24.84 | 6.31 | | 每股未分配利润(元) | 3.57 | 5.84 | -38.87 | 5.08 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 0.58 | 1.27 | -54.33 | 2.28 | | 净利润(亿元) | -0.43 | 0.05 | -960 | 0.41 | | 净资产收益率(%) | -3.06 | 0.30 | -1120 | 2.98 | | 名称 持有数量(万股) | | 占总股本比例 | 增减情况(万 | | --- | --- | --- | --- | | | | (%) | 股) | ...

由此，华帝美肌浴燃气热水器应运而生，"高透活肌科技""华帝健康沐浴用水系统"共同护航，成为"以 水养肤"赛道的先行者。 此次GW6i荣获"2025中国家庭全屋用水行业（热水器类）美肤优选产品"，不仅是对华帝技术实力的权 威认可，更是对其"以水养肤"理念的充分肯定。 4月24日，以"美肤健康 舒适开挂 国补上车 冰爽一夏"为主题的中国家庭全屋用水行业高峰论坛在襄阳 盛大召开。 作为中国高端厨电领导品牌，华帝厚积薄发，凭借在家庭用水领域的深厚积淀与创新突破，一举斩获三 项大奖——"2025中国家庭全屋用水行业（热水器类）焕新优选品牌"，旗下美肌浴热水器GW6i荣 获"2025中国家庭全屋用水行业（热水器类）美肤优选产品"，旗下橱下净饮机H1000 Plus荣获"2025中 国家庭全屋用水行业（净水类）焕新推荐产品"。 论坛现场，华帝产品管理中心总监姚永也和大家分享了自己日常生活中的用水，尤其是饮水和沐浴方面 的爽点和痛点。同时，他指出："消费者对热水器的需求已不局限于洗浴清洁，华帝敏锐地嗅到当下消 费者越发注重用水产品的健康，以及对肌肤的影响。洗浴场景是肌肤与水接触最多的场景之一，所以热 水器的作用不再局限于传统 ...