Core Insights - Lingxiao Pump Industry has experienced significant growth since its listing on July 11, 2017, with a market value increase from 3.248 billion to 5.716 billion yuan, despite fluctuations in revenue and profit in recent years [1][3] Business Overview - The main business of Lingxiao Pump Industry includes the research, design, production, and sales of civil centrifugal pumps, with core products being plastic bathroom pumps (46.64% of revenue) and stainless steel pumps (35.09% of revenue) [3] - The company achieved a net profit attributable to shareholders of 188 million yuan in 2017, growing to 442 million yuan by the end of the latest complete fiscal year in 2024, marking a cumulative profit growth of 134.87% [3] Financial Performance - Revenue showed a fluctuating trend, with 1.435 billion yuan in 2020 and 1.592 billion yuan in 2024, indicating a rise, fall, and subsequent recovery [3] - The net profit attributable to shareholders also experienced fluctuations, increasing from 359 million yuan in 2020 to 442 million yuan in 2024, reflecting an overall upward trajectory [3] Market Valuation - The peak market value of Lingxiao Pump Industry reached 10.099 billion yuan on December 23, 2021, with a stock price of 28.4 yuan, but as of July 10, the market value decreased to 5.716 billion yuan, representing a reduction of 4.383 billion yuan or 43.40% [5]

广东凌霄泵业股份有限公司 投资者关系活动记录表 证券代码：002884 证券简称：凌霄泵业 广东凌霄泵业股份有限公司投资者关系活动记录表 编号：TX【2025004】 | | | ☑特定对象调研 | □分析师会议 | | --- | --- | --- | --- | | 投资者关系活 | □媒体采访 □业绩说明会 | | | | 动类别 | □新闻发布会 □路演活动 | | | | | □现场参观 | | | | | □其他 | | | | 参与单位名称 | 光大机械 黄帅斌；民生惠通资产 陈嘉欢；广发机械 张智林；和 | | | | 及人员姓名 | 谐汇一 云南 | | | | 时间 | 2025 年 7 月 3 日、2025 年 7 月 4 日 | | | | 地点 | 线上交流、公司展厅 | | | | 上市公司接待 | 董事会秘书刘子庚、证券事务代表邱燕妃 | | | | 人员姓名 | | | | | | 一、问答环节： | | | | | 1.塑料卫浴泵、不锈钢泵、通用泵三类产品的应用场景？ | | | | | 答：①塑料卫浴泵：主要用于浴缸、SPA、泳池等卫浴康体设 | | | | | 施等配套 ...

会计师事务所选聘制度 河北·唐山 二零二五年六月 惠达卫浴股份有限公司 会计师事务所选聘制度 （2025 年 6 月修订） 第一章 总则 第一条 为规范惠达卫浴股份有限公司（以下简称"公司"）选聘（含新聘、 续聘、改聘，下同）会计师事务所的行为，提高审计工作和财务信息的质量，切 实维护股东利益，根据《中华人民共和国公司法》《国有企业、上市公司选聘会 计师事务所管理办法》《上海证券交易所股票上市规则》《惠达卫浴股份有限公 司章程》（以下简称"《公司章程》"）等相关规定，结合公司实际情况，制定 本制度。 惠达卫浴股份有限公司 第二条 本制度所称选聘会计师事务所，是指根据相关法律法规要求，聘任 会计师事务所对公司财务会计报告和内部控制发表审计意见、出具审计报告的行 为。公司选聘会计师事务所从事其他法定审计业务的，可以参照本制度执行。 第三条 公司聘用或解聘会计师事务所，应当经董事会审计委员会（以下简 称"审计委员会"）审议同意后，提交董事会审议，并由股东会决定。公司不得 在股东会决定前委托会计师事务所开展工作。 第四条 公司控股股东、实际控制人不得向公司指定会计师事务所，不得干 预公司审计委员会、董事会及股东会独立 ...

董事和高级管理人员所持公司股份 及其变动管理制度 河北·唐山 惠达卫浴股份有限公司 二零二五年六月 惠达卫浴股份有限公司 董事和高级管理人员所持公司股份及其变动管理制度 （2025 年 6 月修订） 第一章 总则 第一条 为规范惠达卫浴股份有限公司（以下简称"公司"或"本公司"） 董事和高级管理人员所持本公司股份及其变动的管理，根据《中华人民共和国公 司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证 券法》"）、中国证监会《上市公司收购管理办法》《上市公司董事和高级管理 人员所持本公司股份及其变动管理规则》《上海证券交易所股票上市规则》《上 海证券交易所上市公司自律监管指引第8号——股份变动管理》《上海证券交易 所上市公司自律监管指引第15号——股东及董事、高级管理人员减持股份》等法 律、法规、规范性文件以及《惠达卫浴股份有限公司章程》（以下简称"《公司 章程》"）的有关规定，结合公司的实际情况，特制定本制度。 第二条 公司董事和高级管理人员在买卖本公司股票及其衍生品种前，应知 悉《公司法》《证券法》等法律、法规、规范性文件关于内幕交易、短线交易、 操纵市场等禁止行为的规定，不得进行 ...

Core Viewpoint - The article outlines the related party transaction management system of Huida Sanitary Ware Co., Ltd, emphasizing the importance of fairness, compliance, and transparency in related party transactions to protect the interests of the company and its non-related shareholders [1][2]. Summary by Sections General Principles - The company establishes this system to ensure the fairness and reasonableness of related party transactions, in accordance with relevant laws and regulations [1]. - Related party transactions must be priced fairly, follow compliant decision-making procedures, and adhere to information disclosure norms [1][2]. Confirmation of Related Parties and Transactions - Related parties include both legal entities and natural persons that have control or significant influence over the company [8][9]. - The definition of related parties includes those holding more than 5% of the company's shares and individuals in key management positions [10][11]. Reporting and Disclosure Procedures - Transactions exceeding 300,000 yuan with related natural persons or 3 million yuan with related legal entities must be disclosed promptly [15][16]. - Major transactions over 30 million yuan, constituting more than 5% of the company's net assets, require board and shareholder approval [17][18]. Pricing of Related Party Transactions - Related party transactions must be documented in written agreements, with pricing determined based on fair market standards [28][29]. - Various pricing methods are outlined, including cost-plus, resale price, and comparable uncontrolled price methods [30][31]. Disclosure Requirements - The company must disclose related party transactions in interim and annual reports, detailing the nature of the transactions and their impact on the company [33][34]. - Specific disclosures include transaction summaries, related party introductions, and the evaluation of transaction pricing [35][36]. Special Provisions for Daily Transactions - For daily related party transactions, the company can estimate annual transaction amounts and must disclose actual performance against these estimates [39][40]. - Agreements exceeding three years require re-evaluation and disclosure every three years [41]. Exemptions from Approval - Certain transactions, such as those providing financial assistance at market rates without collateral, may be exempt from standard approval processes [42][43]. - The company can apply for exemptions for transactions involving state secrets or commercial confidentiality [46][47].

Group 1 - The company plans to establish a corporate group to enhance brand value and promote business development [1][2] - The board of directors approved amendments to the company's articles of association during the seventh board meeting [1] - The proposed changes include updating the company name to "HUIDA SANITARYWARE CO., LTD." and establishing a group name "HUIDA GROUP" [1] Group 2 - The chairman will serve as the legal representative of the company, and the resignation of the chairman will also result in the resignation as the legal representative [1] - The amendments to the articles of association will be submitted for approval at the first extraordinary shareholders' meeting in 2025 [2] - The board requests authorization from the shareholders' meeting for management to handle related business registration changes [2]

01 问询 根据申请文件：报告期各期末发行人存货余额分别为 10,244.83万元、12,032.80万元、14,136.06万元、15,467.06万元。 请发行人：区分存放地点、销售模式（寄售 /其他销售模式），说明各类存货盘点具体情况。 【公司简介】深圳市富泰和精密制造股份有限公司是一家致力于汽车零部件及家电卫浴零配件的研发、生产和销售的高新技术企业，产品主要应用于发动 机系统、新能源汽车电驱系统、以及各类车型的底盘系统。 02 回复 报告期内，公司存货主要为原材料、在产品、半成品、委托加工物资、库存商品、发出商品等，各存货类别具体存放情况如下： 1）公司召集各部门主管下达盘点任务，确定盘点日期，组建盘点小组，协调物控部、生产部、财务部等，确定盘点、复盘及监盘人员； 3）盘点开始前，原则上相关仓储人员需暂停当天公司自有仓库和寄售仓的存货出入库等工作，若有必要出入库，则单独进行记录； | 存货类别 | 存放地点 | 存货状态 | 盘点程序 | | --- | --- | --- | --- | | 原材料 | 总部、子公司仓库 | 正常 | 实地盘点 | | 在产品 | 总部、子公司生产车间 | 正常 | ...

作为中国面向东盟开放合作的前沿窗口，广西防城港市依托独特的区位优势和资源禀赋，以开展招大引 强突破年、重大项目突破年和改革攻坚突破年"三个突破年"行动为抓手，加快构建特色优势现代化产业 体系。2025年一季度，防城港市地区生产总值同比增长7.3%，规上工业增加值同比增加12.2%，工业投 资增长40.2%，新兴产业增加值占比提升至35%，高质量发展动能强劲。 "智改数转网联"在防城港钢铁产业实现技术突破。广西钢铁集团加快落地全自动铁水罐加盖、无人行车 智能库、全自动机械臂拉伸试验系统等应用，持续提升产线智能制造水平。该集团3800毫米宽厚板生产 线去年11月正式投产，可生产用于海洋工程、风电设备的高端钢材，达产后年新增产值近100亿元。 目前，防城港市有色金属产业形成以广西金川有色金属有限公司、广西华昇新材料有限公司等企业为核 心的产业集群，同时加速向精深加工延伸。广西金川有色金属有限公司保持全球单套铜系统产量最高纪 录，五金铜材卫浴产业园等项目加快建设，推动产业延链补链。 升级传统产业 走进位于防城港经济技术开发区的广西华昇新材料有限公司，记者看到，"四横四纵"的氧化铝大模型架 构，生动重现并模拟了氧化铝的 ...

Core Points - The newly revised Anti-Unfair Competition Law will take effect on October 15, 2025, focusing on addressing "involution" competition and the abuse of dominant positions by large enterprises [1][2] - The law establishes a fair competition review system to ensure equal access to production factors and fair market participation for all operators [1] - Large enterprises are prohibited from using their advantages to impose unreasonable payment terms on small and medium-sized enterprises (SMEs) and are subject to penalties for violations [2] Group 1: Legislative Changes - The revised law includes provisions that prevent platform operators from forcing or indirectly forcing other operators to sell products below cost, disrupting market competition [2] - It also prohibits the use of data, algorithms, and platform rules to hinder the normal operation of other operators' products or services [2] - The law raises the level of administrative penalties to be enforced by provincial-level government supervision departments [1] Group 2: Enforcement and Compliance - Violations of the law can result in fines ranging from 1 million to 5 million yuan, depending on the severity of the offense [2] - The State Administration for Market Regulation has published a list of companies engaged in severe "involution" competition, highlighting the enforcement of the new regulations [2] - The law aims to curb practices that lead to a "low-price, low-quality" cycle in industries, encouraging a shift towards service upgrades [3]

丨证券研究报告丨 行业研究丨点评报告丨家庭装饰品 [Table_Title] 家居行业点评：中央资金支持国补延续全年， 有望持续支撑家居需求 报告要点 [Table_Summary] 据新华社报道，消费品以旧换新加力扩围政策没有变化，补贴资金使用进度符合预期，约占全 年一半，其中 1-5 月家装厨卫"焕新"数量接近去年全年，后续 7 月和 10 月将分批下达 Q3 和 Q4 国补对应的中央资金。家居景气进入磨底、弱稳定阶段，家居国补接续有望托底需求，地产 企稳乃至回升是看涨期权。优选确定性高股息+中长期有竞争力的公司。 分析师及联系人 [Table_Author] 蔡方羿 米雁翔 应奇航 SAC：S0490516060001 SAC：S0490520070002 SAC：S0490524080008 SFC：BUV463 请阅读最后评级说明和重要声明 %% %% 事件评论 风险提示 1、各地家居以旧换新政策落地不及预期；2、地产销售及竣工低预期；3、行业竞争持续加剧。 %% %% research.95579.com 1 家庭装饰品 cjzqdt11111 [Table_Title 家居行业点评：中央资金支持 ...