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萤石网络20251021
2025-10-21 15:00
萤石网络 20251021 摘要 公司前三季度利润 4.22 亿元,同比增长 12.68%;第三季度营收 14.65 亿元,同比增长 6.25%,环比增长 1.25%;利润总额 1.22 亿元, 同比增长 23.21%;归母净利润 1.20 亿元,同比增长 28.73%。 前三季度主营业务综合毛利率为 43.76%,同比提升 1 个百分点;第三 季度毛利率为 43.79%,与上半年持平。销售费用 7.3 亿元,同比增长 17%,销售费用率 16%。研发费用 6.48 亿元,同比增长 4%,研发费 用率略降。 智能入户业务显著提升毛利率,盈利能力随规模扩大而提高。智能锁等 高端产品及海外市场高端门铃、猫眼贡献较高毛利。预计智能入户今年 基本盈亏平衡,海外推广投入较大,四季度新品表现将影响最终利润贡 献。 境外业务快速增长,第三季度硬件收入与国内持平。海外市场策略因地 制宜,发展中国家安防需求稳固。线上业务快速增长,跨境电商增速明 显,海外发展方向为拓展品类和渠道。 Q&A 银石网络 2025 年前三季度的整体经营情况如何? 2025 年前三季度,银石网络实现营业总收入 42.93 亿元,同比增长 8.33%; ...
开源晨会-20251021
KAIYUAN SECURITIES· 2025-10-21 14:44
Overall Economic Perspective - The industrial economy shows steady progress, with industrial production increasing by 6.5% year-on-year in September 2025, and a month-on-month increase of 0.64% [4][3] - The manufacturing sector continues to advance towards high-end development, with high-tech manufacturing value-added growing by 10.3% year-on-year in September [4] Consumer Sector - The retail sales growth rate slightly declined to 3.0% year-on-year in September 2025, influenced by the timing of the Mid-Autumn Festival and the diminishing effects of the "trade-in" policy [5][11] - Restaurant income growth was only 0.9% year-on-year, with a decline in revenue from large-scale dining establishments [5][11] Investment Sector - Fixed asset investment decreased by 0.5% year-on-year from January to September 2025, with real estate investment continuing to decline, down 13.9% year-on-year [6][24] - The sales area of new commercial housing fell by 5.5% year-on-year, indicating ongoing challenges in the real estate market [6][21] Food and Beverage Industry - The food and beverage sector is expected to gradually improve as macroeconomic stability and consumption policies take effect, with the liquor industry showing signs of bottoming out [10][11] - Key companies in the sector, such as Wei Long and Ximai Foods, are recommended for investment due to their growth potential [10] Retail Sector - The retail sector maintained steady growth, with online retail sales increasing by 9.8% year-on-year from January to September 2025, while offline retail growth showed signs of slowing down [18][19] - The performance of optional consumption categories, such as cosmetics and jewelry, remains strong, indicating a shift in consumer preferences [17][19] Real Estate Sector - The real estate market is facing significant challenges, with a notable decline in sales and investment, particularly in lower-tier cities [21][24] - Recommendations for investment focus on companies with strong credit ratings and those that can adapt to changing consumer demands [25] Agricultural Sector - Haida Group reported a 13.24% year-on-year increase in revenue for the first three quarters of 2025, driven by strong feed sales [26][27] - The company is planning to spin off its subsidiary for a separate listing, which is expected to enhance its overseas business development [28][29] Home Appliance Sector - The home appliance company, Yingshi Network, achieved steady growth in revenue and profit, with a focus on AI capabilities [31][32] - The company is expanding its product applications and enhancing its cloud platform services, indicating a positive growth trajectory [33] Chemical Industry - Lianlong's Q3 net profit increased by 24.9% year-on-year, reflecting a recovery in profitability and a focus on high-quality development [35][36] - The company is advancing its projects in anti-aging agents and lubricating oil additives, which are expected to stabilize growth [36][38]
卢浮宫失窃背后:一个“分裂的法国”与消费市场巨变
3 6 Ke· 2025-10-21 11:31
这起盗窃案在法国引起了政治强烈抗议。法国总统马克龙称这次突袭是"对我们历史的攻击",法国极右翼政党"国民联盟"主席乔丹·巴尔德拉 (Jordan Bardella) 表示这是一次"无法忍受的羞辱,国家衰败还会持续到什么程度?","国民联盟"的另一主要领导人玛丽娜·勒庞 (Marine Le Pen) 称其为"法国 灵魂的创伤"。法国参议院财政委员会成员娜塔莉·古莱 (Natalie Goulet) 则表示,这对法国来说是一个"非常痛苦"的事件,"我们都感到失望和愤怒,很 难理解它是如何如此轻易发生的"。 近日,法国巴黎卢浮宫博物馆所遭遇的失窃案,引发世人哗然。 当地时间10月19日上午9:30,即博物馆开放后不久,四名嫌疑人乘坐载有机械升降机的车辆抵达,通过塞纳河畔一侧的阳台进入阿波罗画廊。现场照片显 示,一架梯子架设至一楼窗户。两名窃贼使用电动工具切开窗户闯入室内,随后威胁安保人员撤离现场,并切开两个珠宝展柜的玻璃。据法媒报道,初步 调查显示被盗区域三分之一的房间,未安装闭路电视监控。警方称,犯罪团伙仅在馆内停留四分钟,便于9:38分乘坐两辆在外接应的摩托车逃离现场。 嫌疑人使用升降梯爬上阿波罗画廊,用切割 ...
连续三年直击GITEX GLOBAL:AI走向具体、落地|36氪出海·中东
3 6 Ke· 2025-10-21 10:28
连续三年现场报道GITEX GLOBAL,我们见证了AI如何从一个无处不在的想象,演变为一个个具体的 商业解决方案。在迪拜,政府、巨头与创业者正在共同探索技术落地的下一个十年。 文|常薇倩 编辑|Max 来源|36氪出海(ID:wow36krchuhai) 10月的迪拜,热浪依旧。第45届GITEX GLOBAL展会如期而至。 2023年的GITEX GLOBAL,AI还是展馆中无所不在的想象;2024年,AI是吸引中国企业蜂拥而至的热 潮。而步入2025年,当观众再次穿行于迪拜世界贸易中心的展馆时,能清晰地感知到,AI已经从一个 话题,转变为驱动商业运转的底层逻辑。 关于AI的谈论,变得尤为具体。阿联酋经济部长在开幕演讲中透露,政府正在为AI的落地修订法规; G42启动了一个覆盖"从7岁到70岁"的全民AI教育计划。这种具体也体现在了中国参展企业的构成上 ——曾经以消费电子、IoT配件为主的面孔,如今被更多像云深处科技、银河通用这样的机器人公司和 AI大模型企业所充实。 今年是36氪出海作为GITEX GLOBAL官方合作媒体参会的第三年,我们将带各位再次穿过喧嚣的展 台,深入这场全球科技盛会的内核。 阿联 ...
维信诺打入海尔高端智能家居供应链
Jin Rong Jie· 2025-10-21 01:58
根据产业链人士消息,在智能家居领域,维信诺(002387.SZ)已经打入海尔高端产品供应链。此前有 消息发布称,维信诺携手国内头部家电厂商,推出全球首款搭载OLED屏幕的洗衣机,拥有更大显示面 积、更智能的交互。 不难想象,在未来洗衣场景中,屏幕能实时显示家庭水电消耗数据,推荐节能洗涤方案,或当识别到特 殊材质时,能自动推送衣物护理知识短视频。这些功能看似跨界,实则构建了一个以洗衣需求为核心 的"服务生态",让硬件成为软件生态的入口。 在智能家居领域,手机APP远程控制、语音唤醒等基于软件上带来的使用便捷性比较常见。随着AI技术 越发成熟,AI+显示催生更多创新应用。此次智能洗衣机搭载AMOLED屏幕,或标志着智能家居进入更 加科技友好的新阶段。 财经频道更多独家策划、专家专栏,免费查阅>>责任编辑:栎树 传统洗衣机的交互,用户或被按键迷宫围堵,或眯眼读两行参数,在消费者心中这种割裂让"智能"沦为 后台算法的独白,界面与用户始终隔着一道感官鸿沟,将交互困在"功能指令"。AMOLED屏幕的引 入,彻底打破了这种割裂感。 据了解,维信诺供货的OLED 屏幕的洗衣机,搭载6.42英寸硬屏以比肩手机屏的显示精度,且因 ...
TCL智家:公司及合作经销商将积极参加天猫、京东等平台的“双十一”活动
Ge Long Hui· 2025-10-20 08:20
格隆汇10月20日丨TCL智家(002668.SZ)在投资者互动平台表示,公司及合作经销商将积极参加天猫、京 东等平台的"双十一"活动,欢迎广大投资者和消费者通过相关平台选购公司产品。 ...
TCL智家(002668.SZ):公司及合作经销商将积极参加天猫、京东等平台的“双十一”活动
Ge Long Hui· 2025-10-20 08:16
格隆汇10月20日丨TCL智家(002668.SZ)在投资者互动平台表示,公司及合作经销商将积极参加天猫、京 东等平台的"双十一"活动,欢迎广大投资者和消费者通过相关平台选购公司产品。 ...
一户家庭开启智能新生活(“十四五”的发展镜头)
Ren Min Ri Bao· 2025-10-20 00:45
傍晚6点多,陶多多下班。从公司步行回家的路上,等红灯间隙,她拿出手机,通过家中摄像头看了看 小狗的状态:"小家伙已经在门口转起圈圈了。"陶多多笑了笑,步伐越发轻快。 家门口堆了不少快递,拿起快递,陶多多不再需要手忙脚乱地腾出手翻钥匙开门,面向门锁刷个脸 ——"吧嗒"一声,门开了,小狗兴奋地扑上来。在厨房,集成烹饪中心已经提前根据手机上的操作蒸好 了玉米和蛋羹。忙碌了一天,还真有些饿了。陶多多洗完澡,将脏衣服丢进洗衣机,打开手机上的视频 软件,一边追最新的综艺节目,一边吃饭。 洗碗机在厨房洗着碗,洗衣机在阳台洗衣服,扫地机器人在面前扫着地……陶多多享受这样的时 光:"家务变轻松,幸福感满满。" 装修那半年,为了买到心仪的家电,她和丈夫每周末都在跑各种商场。线上做功课,线下看实物,产品 有哪些功能?用起来是不是足够智能?这是他们最关心的,也是不少年轻家庭问得最多的问题。越来越 多消费者和他们一样,愿意购买价格相对更高的新产品。 亮点 2020年至2024年,居民服务性消费支出年均增长9.6% 在上海市闵行区,陶多多和丈夫终于有了属于自己的小家。 新房装修,所有家电都是小两口精心挑选的——智能空调、智能门锁、智能马 ...
萤石网络加码AI净利连增三季 双主业发展境外营收占比38%
Chang Jiang Shang Bao· 2025-10-19 23:34
Core Viewpoint - The profitability of YingShi Network (688475.SH) continues to recover, with significant growth in revenue and net profit in the first three quarters of 2025 [2][4][8]. Financial Performance - For the first three quarters of 2025, the company reported revenue of 4.293 billion yuan, a year-on-year increase of 8.33% [2][9]. - Net profit reached 422 million yuan, up 12.68% year-on-year, while the non-net profit was 391 million yuan, reflecting a 6.22% increase [2][9]. - The operating cash flow saw a substantial increase of 289%, with net cash flow from operating activities reaching 510 million yuan, a year-on-year growth of 288.91% [4][12]. Quarterly Growth - The company achieved continuous growth in revenue and net profit across three consecutive quarters in 2025 [11]. - Revenue for Q1 and Q2 was 1.38 billion yuan and 1.447 billion yuan, showing year-on-year growth of 11.59% and 7.48%, respectively [9]. - In Q3, revenue was 1.465 billion yuan, marking a 6.25% increase year-on-year, with net profit of 120 million yuan, up 28.73% [10]. Business Expansion - YingShi Network is actively expanding its domestic and international channels, enhancing its product offerings in smart home solutions and IoT cloud platform services [2][12]. - The company has focused on developing competitive innovative products and services, which has contributed to steady growth in overall business performance [2][12]. International Market Performance - In the first half of 2025, the company's overseas business revenue grew by 25.42%, accounting for 38% of total revenue [3][15]. - The company is strategically expanding its distribution channels, including offline chain KA channels and various types of distributors [14][15]. Product Development - YingShi Network is enhancing its AI capabilities, particularly in smart entry products, with the launch of the self-developed AI facial recognition video lock [15]. - The smart home segment generated 2.256 billion yuan in revenue in the first half of 2025, representing an 8.88% year-on-year increase and accounting for 80.26% of the company's main business revenue [16].
萤石网络前三季度净利润同比增长12.68%
Ju Chao Zi Xun· 2025-10-18 08:17
业绩增长主要系报告期内,萤石网络持续聚焦核心优势,夯实技术研发,不断推出有竞争力的产品和服 务;同时,公司持续完善境内外渠道建设,持续加大境内外市场投入,优化业务结构,不断构建各类核 心产品线在境内外的品牌影响力和市场竞争力,整体经营业绩实现稳健增长。 报告期内,公司发布全自研萤石启明AI人脸视频锁(Y5000FVX),以蓝海大模型为底座,深度融合AI 技术,搭载自研个性化AI智能体形象系统,全新定义智能入户产品的功能和交互体验,公司智能入户 产品行业竞争力和盈利能力进一步提升。 10月17日,萤石网络公告发布三季度财报,2025年前三季度公司实现营业收入42.93亿元,同比增长 8.33%;归属于上市公司股东的净利润4.22亿元,同比增长12.68%。基本每股收益0.54元,同比增长 12.50%。 第三季度,萤石网络营业收入为14.7亿元,同比上升6.25%;归母净利润为1.2亿元,同比上升28.7%; 扣非归母净利润为9301万元,同比上升1.8%。 ...