2025年1月至9月，公司利润总额为1590.62万元，归属于上市公司股东的净利润为1524.05万元，归属于 上市公司股东的扣除非经常性损益的净利润为-4734.84万元。因上述原因，经财务部门初步测算，公司 预计2025年度归属于上市公司股东的净利润为负值。 格隆汇1月12日丨惠达卫浴(603385.SH)公布，公司主要从事卫浴产品的研发、生产和销售。2025年度， 受国际地缘冲突、行业周期波动及市场环境变化等因素影响，公司产品终端需求不及预期，产品收入及 毛利率有所下滑。同时，公司结合行业的竞争格局及未来的发展趋势，进行战略性业务调整，相应增加 了计提资产减值损失。 ...

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。 厦门瑞尔特卫浴科技股份有限公司（以下简称"公司"）于2025年10月28日召开第五届董事会第八次会议 及2025年12月22日召开2025年度第一次临时股东大会，审议通过了《关于调整公司组织架构并修订〈公 司章程〉的议案》，同意调整公司组织架构并对《公司章程》进行修订。具体情况详见于2025年10月29 日发布于巨潮资讯网（http://www.cninfo.com.cn）并同时刊登于《证券时报》《上海证券报》《中国证 券报》《证券日报》的《关于调整公司组织架构并修订〈公司章程〉的公告》（公告编号：2025- 034），生效后的《公司章程》于2025年10月29日发布于巨潮资讯网（http://www.cninfo.com.cn）。 近日，公司已经在厦门市市场监督管理局办理完毕修订后的《公司章程》及调整组织架构相关事项的备 案登记。 登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002790 证券简称：瑞尔特 公告编号：2026-001 厦门瑞尔特卫浴科技股份有限公司 关于完成《公司章程》及相关事项 ...

截至发稿，沈悦累计任职时间5年223天，现任基金资产总规模9.35亿元，任职期间最佳基金回报 126.87%， 任职期间最差基金回报-26.63%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，中欧基金旗下1只基金重仓瑞尔特。中欧永裕混合A（001306）三季度减持9.99万股，持有股 数130.01万股，占基金净值比例为3.6%，位居第八大重仓股。根据测算，今日浮盈赚取约65万元。 中欧永裕混合A（001306）成立日期2015年6月4日，最新规模2.44亿。今年以来收益14.19%，同类排名 4922/8098；近一年收益11.54%，同类排名5223/8067；成立以来收益32.16%。 中欧永裕混合A（001306）基金经理为沈悦。 12月19日，瑞尔特涨5.88%，截至发稿，报9.00元/股，成交9152.38万元，换手率4.06%，总市值37.61亿 元。 资料显示，厦门瑞尔特卫浴科技股份有限公司位于福建省厦门市海沧区后祥路1 ...

天眼查App显示，近日，佛山市雅戈沐卫浴有限公司成立，注册资本50万人民币，经营范围为一般项 目：卫生陶瓷制品销售；卫生洁具销售；工程和技术研究和试验发展；卫生洁具研发；日用陶瓷制品销 售；家居用品销售；家具销售；家具零配件销售；智能家庭消费设备销售；日用百货销售；防腐材料销 售；保温材料销售；建筑材料销售；五金产品零售；建筑陶瓷制品销售；建筑装饰材料销售；地板销 售；灯具销售；照明器具销售；日用玻璃制品销售；互联网销售（除销售需要许可的商品）；专业设计 服务；国内贸易代理；货物进出口；技术进出口。（除依法须经批准的项目外，凭营业执照依法自主开 展经营活动）。 ...

Core Insights - The smart toilet market in China is rapidly growing, with the country becoming the largest producer and consumer globally, expecting an annual production of 13.72 million units in 2024, a year-on-year increase of 8.5% [1] - The demand for "light smart" toilets is surging, with production expected to reach 3.913 million units in 2024, a staggering increase of 144.6%, accounting for 28.5% of the total industry output [3] - Domestic brands are increasingly competitive, with local standards showing advanced performance in several key metrics compared to international standards, particularly in energy consumption and product safety [4][5] Industry Trends - The smart toilet segment is evolving with enhanced features such as voice control, heated seats, and warm water cleaning becoming standard offerings [2] - The market is witnessing a shift towards "light smart" toilets, which offer essential functionalities at a lower price point, appealing to a broader consumer base [3] - The introduction of a grading system for product quality in China is expected to drive manufacturers to improve their offerings, thereby enhancing overall industry standards [5] Consumer Preferences - Consumers prioritize practical features like heated seats and warm water cleaning, with many opting for simpler models that meet basic needs [3][8] - The price range for popular smart toilets is between 2,000 to 3,000 yuan, with promotional pricing making advanced models more accessible [2] - There is a growing awareness among consumers regarding product certifications, with a focus on purchasing items that meet the new 3C certification standards effective from July 2025 [7] Quality Assurance - Recent testing indicates that domestic brands excel in core performance metrics such as flushing efficiency and antibacterial properties, positioning them alongside top international brands [6] - The establishment of comprehensive standards for smart toilets in China is aimed at ensuring product safety and performance, which is crucial for consumer trust [5][6] Purchasing Guidance - Consumers are advised to look for 3C certification and to be cautious of products lacking this certification, as they may pose safety risks [7] - Key considerations when selecting a smart toilet include water efficiency ratings, pit distance compatibility, and whether the model includes a water tank, which affects performance under varying water pressure conditions [9][10]

天眼查App显示，近日，佛山市易诚卫浴有限公司成立，注册资本1万人民币，经营范围为一般项目： 卫生洁具销售；卫生陶瓷制品销售；玻璃纤维增强塑料制品销售；家具销售；家具零配件销售；建筑材 料销售；门窗销售；家用电器零配件销售；电器辅件销售；金属链条及其他金属制品销售；家居用品销 售；工艺美术品及礼仪用品销售（象牙及其制品除外）；照明器具销售；机械电气设备销售；日用百货 销售；建筑装饰材料销售；建筑陶瓷制品销售；五金产品零售；日用品销售；家用电器销售；金属制品 销售；软木制品销售；日用木制品销售；日用玻璃制品销售；电子产品销售；五金产品批发；日用家电 零售；互联网销售（除销售需要许可的商品）；家用电器安装服务；家具安装和维修服务；国内贸易代 理。（除依法须经批准的项目外，凭营业执照依法自主开展经营活动）。 ...

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first three quarters of 2025, with a year-over-year decrease of 10.71% in revenue and a shift from profit to loss in net profit [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 2.21 billion yuan and a net profit of 15 million yuan, with a year-over-year decline of 83.69% in net profit [1]. - In Q3 2025, the company reported revenue of 785 million yuan, with a net profit of -3 million yuan, reflecting a year-over-year decline of 12.09% [1]. Market Strategy - The company is facing pressure from weak downstream demand but is actively deepening its channel strategy to expand both domestic and international markets [2]. - Retail channel initiatives include the "thousand merchants, ten thousand stores" and "thousand counties, ten thousand towns" plans, which have improved the coverage rate in prefecture-level cities by 3% and county-level cities by 12% by mid-2025 [2]. - Online channel growth is supported by partnerships with major platforms like JD.com and Tmall, with revenue from emerging platforms like Douyin and Kuaishou exceeding 100% growth [2]. Profitability and Cost Structure - The company's gross margin for the first three quarters of 2025 was 25.1%, a decrease of 2.3 percentage points year-over-year, with asset impairment losses of 25.76 million yuan impacting net profit margins [2]. - In Q3 2025, the gross margin was 25.5%, down 2.2 percentage points year-over-year but up 2.1 percentage points quarter-over-quarter [2]. Investment Outlook - The company is accelerating product iteration and channel expansion, with expectations for operational improvement in the future [3]. - Projected net profits for 2025-2027 are 50 million yuan, 135 million yuan, and 171 million yuan, corresponding to PE ratios of 55, 21, and 16 times [3]. - A target price of 8.90 yuan per share is set based on a relative valuation method, maintaining a "strong buy" rating [3].

Investment Rating - The investment rating for the company is "Buy" and is maintained [10]. Core Views - The company experienced significant revenue and profit declines in the first three quarters of 2025, with revenue at 1.363 billion yuan, a year-on-year decrease of 20%, and net profit attributable to the parent company at 62 million yuan, down 51% [2][7]. - In Q3 2025, the company reported revenue of 444 million yuan, a 22% decline year-on-year, and a net profit of 10 million yuan, down 72% [2][7]. - The company is facing operational pressure and is awaiting a turning point in market conditions [7]. Revenue Analysis - The company's revenue decline is attributed to a downturn in industry conditions, affecting both its own brand and OEM businesses, with Q3 revenue falling 22% year-on-year [12]. - The performance of various product lines in H1 2025 showed declines: water tanks and accessories down 18.42%, smart toilets down 22.72%, and drainage systems down 6.86% [12]. - Domestic sales are under pressure due to a significant drop in OEM orders, while export business is still impacted by tariff disturbances [12]. Profitability Analysis - The gross margin in Q3 2025 decreased by 1.0 percentage points year-on-year, primarily due to increased promotional efforts for its own brand and further price reductions in OEM business [12]. - The expense ratios for sales, management, R&D, and financial costs increased, indicating that fixed costs were incurred despite lower revenue growth [12]. Competitive Position - The company maintains a strong competitive edge in the industry, with a R&D expense ratio of 5% and a total of 2,075 patents, including 200 invention patents [12]. - The company is recognized as one of the few bathroom enterprises with a "National Industrial Design Center" title, showcasing its leading capabilities in product R&D and manufacturing [12]. Market Outlook - The domestic market for smart toilets has significant growth potential, with an estimated penetration rate of only 9.6% compared to more mature markets [12]. - The company is expected to expand its offline presence and benefit from new retail channels, while the upcoming 3C certification for smart toilets may lead to increased industry concentration [12]. - The export market for smart toilets is also promising, with potential growth in regions like the Middle East, Europe, and South America [12]. Earnings Forecast - The company is projected to achieve net profits of 80 million yuan, 100 million yuan, and 120 million yuan for 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 59, 45, and 38 [12].

Group 1 - The stock price of Ruilite has dropped by 5.04% on November 6, reaching 9.24 CNY per share, with a trading volume of 145 million CNY and a turnover rate of 5.96%, resulting in a total market capitalization of 3.861 billion CNY [1] - Ruilite's stock has experienced a continuous decline for three days, with a cumulative drop of 19.05% during this period [1] - Ruilite, established on April 19, 1999, and listed on March 8, 2016, specializes in the research, production, and sales of bathroom accessory products, with its main revenue sources being smart toilets and covers (57.70%), water tanks and accessories (28.63%), and other products [1] Group 2 - Among the top ten holdings of funds, one fund under China Europe Fund has a significant position in Ruilite, specifically the China Europe Yongyu Mixed A Fund (001306), which reduced its holdings by 99,900 shares in the third quarter, now holding 1.3001 million shares, accounting for 3.6% of the fund's net value [2] - The estimated floating loss for the fund today is approximately 637,000 CNY, with a total floating loss of 2.9772 million CNY during the three-day decline [2] - The China Europe Yongyu Mixed A Fund, established on June 4, 2015, has a current scale of 244 million CNY, with a year-to-date return of 16.1% and a one-year return of 7.23% [2]

Group 1 - The company's stock, Xiamen Ruiter Bathroom Technology Co., Ltd. (stock code: 002790), experienced an abnormal trading fluctuation with a cumulative closing price increase of over 20% on October 29 and 30, 2025 [1] - The company confirmed that there were no undisclosed significant matters that could have impacted the stock price, and the operational situation remains normal without major changes in the internal or external environment [2][3] - The company disclosed its Q3 2025 report on October 29, 2025, and investors are encouraged to refer to the report for detailed information [2] Group 2 - The company has verified that there are no corrections or supplements needed for previously disclosed information, and no significant undisclosed information has been identified [3] - The board of directors confirmed that there are no violations of fair information disclosure and emphasized the importance of relying on officially designated media for information [4]