证券代码：603277 证券简称：银都股份 公告编号：2025-043 银都餐饮设备股份有限公司 关于开展期货和衍生品交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 本事项已经公司第五届董事会审计委员会第十次会议、第五届董事会第十六次会议审议通过，该事项不 涉及关联交易，且在董事会审议权限范围内，无需提交股东会审议。 ● 特别风险提示 公司开展套期保值业务，以合法、谨慎、安全和有效为原则，不以套利、投机为目的，所有交易行为均 以正常生产经营为基础，但仍可能存在市场风险、政策风险、交割风险、技术风险和操作风险等正常交 易风险。敬请广大投资者充分关注投资风险。 公司主要从事商用餐饮设备的研发、生产、销售以及货物进出口业务，由于全球经济不确定性加剧，公 司常规采购消耗的部分原材料包括但不限于不锈钢、铜、能化类（异氰酸酯等）原料以及进出口涉及的 海运费价格呈现较大波动，为了减少原材料价格及海运费波动对生产经营的影响，公司拟对部分原材料 和海运费进行套期保值。 公司套期保值业务拟使用的期货及衍生品合约主要包括 ...

Group 1 - The core stock price of Yindu Co., Ltd. is 17.52 yuan, down 1.02% from the previous trading day, with a trading volume of 39,100 hands and a transaction amount of 68 million yuan on August 26, 2025 [1] - Yindu Co., Ltd. operates in the general equipment manufacturing industry, focusing on the research, production, sales, and service of commercial catering equipment [1] - The latest financial report indicates that in the first half of 2025, the company achieved operating revenue of 1.426 billion yuan and a net profit attributable to shareholders of 347 million yuan [1] Group 2 - On August 26, the company announced a cash dividend of 3.5 yuan for every 10 shares to all shareholders [1] - The net cash flow from operating activities for the first half of the year was 148 million yuan, a year-on-year decrease of 51.07%, while the weighted average return on net assets was 11.66%, a slight increase of 0.06 percentage points year-on-year [1] - In terms of capital flow, the net inflow of main funds for Yindu Co., Ltd. on that day was 1.2579 million yuan, with a cumulative net inflow of 15.5115 million yuan over the past five trading days [1]

Group 1 - The company, Yindu Co., Ltd. (SH 603277), announced its fifth board meeting on August 22, 2025, to review the 2025 semi-annual report and its summary [1] - For the year 2024, the company's revenue composition is 98.72% from commercial catering equipment and 1.28% from other businesses [1] - The current market capitalization of Yindu Co., Ltd. is 10.9 billion yuan [2]

Summary of Conference Call Records Industry or Company Involved - The discussion primarily revolves around the **mechanical industry** and its interactions with **U.S.-China trade relations** and **tariffs**. Specific companies mentioned include **Caterpillar**, **Genie**, **Apple**, **Amazon**, and **Stanley Black & Decker**. Core Points and Arguments - **U.S.-China Tariff Negotiations**: Ongoing negotiations indicate a possibility of reducing tariffs, particularly on non-strategic goods like textiles, which could benefit related industries [1][3] - **Transshipment Trade Risks**: Brand companies face high risks with transshipment trade due to legal issues, while basic processing companies, such as apparel firms, have lower legal risks and higher feasibility, potentially leading to better performance [4][5] - **Response to High Tariffs**: If high tariffs persist, companies like Stanley Black & Decker are shifting supply chains to Southeast Asia or Mexico and raising prices to mitigate tariff impacts. Chinese companies may also consider passing costs downstream [6] - **Healthy Demand in U.S. Market**: Caterpillar and Genie report healthy new order demand, primarily from large projects and infrastructure, alleviating concerns about market conditions [7] - **Apple and Amazon's Financial Impact**: Apple anticipates a $900 million increase in costs for Q2, which is manageable given its revenue scale. Amazon's retail prices have not significantly increased, but there is potential for future price hikes [10] - **Commercial Kitchen Equipment Industry**: Companies like Rational AG face increased costs due to tariffs on stainless steel, but have not yet raised prices. They are prepared to negotiate price increases if necessary [11] - **Overall Mechanical Industry Perspective**: The industry expects price increases in the U.S. market as a natural response to tariffs, with companies showing strong pricing power. However, demand fluctuations due to inflation remain a concern [12] - **Transshipment Trade Viability**: Despite high tariffs, transshipment trade remains a viable option, with companies showing stable growth. Attention should be given to emerging markets in Europe, Africa, and South America [13] - **Monitoring U.S. Consumer Market**: Upcoming earnings reports from major retailers like Walmart will be crucial for understanding U.S. consumer trends and adjusting research directions [14] Other Important but Potentially Overlooked Content - **Long-term Stability**: Historical data suggests that many sectors have shown relative stability even during economic downturns, indicating potential resilience in U.S. exports [12] - **Impact of Inflation on Demand**: Future inflation leading to a 10% price increase could create demand uncertainties, which is a critical concern for the export chain [12] - **Technological Developments**: The call also touched on advancements in humanoid robotics, particularly in hand-eye coordination and visual technology, which may influence future investment opportunities [14]