用户应选购列入《销售目录》中的产品，《销售目录》可以关注"深圳燃气（601139）协会"微信公众号 或登录深圳市燃气行业协会的官方网站——深圳燃气信息网 （http://www.szrqxh.com/markersearch.aspx）查询。不要购买《销售目录》以外的产品，防止买到不适 合深圳气源的产品或不合格产品，给您与家人带来安全隐患。 【深圳商报讯】（记者 王永长 苑伟斌）2025年适配深圳市气源的燃气燃烧器具产品销售目录11月25日 正式出台。记者从深圳市燃气行业协会获悉，《深圳市燃气燃烧器具产品销售目录》已经连续22年为深 圳市民提供选购合格燃气器具的指引，自2011年起累计发放气源适配性标识近920万张，使用户更为直 观、便捷地选购与使用燃气匹配的安全、合格的燃具产品。 今年共有29个品牌的燃具产品通过审核，领取了气源适配性标识，由深圳市燃气行业协会统一汇总编入 《销售目录》，其中家用燃气灶具119种、燃气热水器301种、商用燃气灶具50种。另外为方便市民查询 具有资质的燃气具安装维修企业，协会同时公布了30家具有由深圳市燃气行业协会颁发的《燃气燃烧器 具安装维修资质证书》企业的名单。 《深圳经济 ...

Core Viewpoint - The training session organized by the Haikou City Meilan District Gas Work Special Team aims to enhance gas safety management and build a robust safety defense line, which is crucial for the smooth operation of the free trade port [1][2] Group 1: Training Objectives and Participants - The training attracted over 150 participants, including business leaders and key personnel from 13 towns and gas supply companies [1] - The session focused on strengthening the safety responsibility awareness, professional capabilities, and risk prevention levels of gas management personnel [1] Group 2: Training Content and Delivery - The training featured expert instructors, including Xi Xinfang, a senior engineer, and Wang Lei from the Haikou Market Supervision Administration, who provided insights based on extensive experience [1] - Key topics covered included gas pipeline inspection, user-end hazard identification, gas classification, safety regulations, and management requirements for liquefied petroleum gas [1] - The training also addressed the entire regulatory process for gas water heaters, enhancing participants' professional identification capabilities [1][2] Group 3: Future Actions and Commitment - The Meilan District Gas Work Special Team plans to increase gas safety awareness and conduct regular hazard inspections to improve user safety levels [2] - The initiative aims to solidify the gas safety defense line and ensure the safety of households [2]

随着气温逐渐降低，家中的"温暖卫士"——燃气壁挂炉又要开始忙碌工作了，但若使用不当也会潜藏安全隐患。 今天，我们为大家送上一份燃气壁挂炉安全使用指南。为了自己和家人的安全，请一定耐心看完并转发、收藏！ 什么！ 使用燃气壁挂炉还有这种风险？！ 你知道吗？燃气燃烧不充分时，会产生一氧化碳等有毒气体，如果此时壁挂炉烟道无法正常排出废气，或由于异常情况导致废气泄漏、倒灌 至屋内，可能造成一氧化碳中毒等严重危害！无论你家使用的是壁挂炉还是热水器，都要注意！ 警惕"隐形杀手"——一氧化碳中毒 安装烟道时要注意方向，加装防风装置，大风天气时要关注烟道状态，避免废气倒灌。 除了烟道，还要注意这些 除了要关注烟道，以下这些使用要点同样不能忽视，让我们一起来看看这份《安全使用指南》。 第一章：点火前，这些检查不能省！ 一氧化碳是一种无色、无味气体，难以察觉，被称为"隐形杀手"。 发现头痛、头晕、恶心、呕吐、乏力、虚弱、视力模糊等症状时，应立即打开门窗通风，并迅速离开现场到户外呼吸新鲜空气。严重时应立 即就医。 如何预防一氧化碳中毒？ 最重要的就是——烟道。关于烟道一定要注意以下几点： 燃气壁挂炉/热水器应设置专用烟道并伸向室外； ...

Core Viewpoint - Zhejiang Meida Industrial Co., Ltd. is actively responding to market changes by adjusting its business strategy and investing in the smart driving sector to create value for investors [1] Group 1: Investment and Strategic Moves - The company approved an investment of 110 million yuan in Magic View Intelligent Technology (Shanghai) Co., Ltd. to acquire a 4.8657% stake, marking its entry into the smart driving field [1] - This investment aims to capitalize on growth opportunities in the smart driving industry and enhance shareholder returns while maintaining core competitiveness in kitchen appliances [1] Group 2: Industry Trends - The smart driving sector is experiencing significant breakthroughs, with advancements in technology and policy support driving the industry towards commercialization [2] - Notable developments include the global launch of L4.5 autonomous driving technology and Huawei's deployment of smart driving systems in 1 million vehicles, indicating a shift towards large-scale commercial use [2] Group 3: International Expansion - Since entering the Southeast Asian market in 2009, the company has focused on promoting its innovative kitchen concepts globally, supported by 229 proprietary intellectual property rights [3] - The company plans to further expand its international market presence while adapting products to meet diverse consumer needs [3] Group 4: Business Performance - In the first half of 2025, the company achieved total revenue of approximately 212 million yuan and a net profit of about 12.28 million yuan, demonstrating resilience amid industry challenges [3] - The company continues to prioritize high-quality development, driven by market demand and technological innovation [3] Group 5: Product and Sales Strategy - The company offers a diverse product matrix, including integrated stoves, ovens, dishwashers, and water purification systems, aiming to create a comprehensive and healthy home environment [4] - It has established partnerships with major home improvement retailers and expanded its online sales channels through platforms like Tmall and JD.com [4] Group 6: Future Outlook - Looking ahead to the second half of 2025, the company will focus on core business areas, enhance product diversity, and deepen channel integration to promote sustainable high-quality development [5] - The company aims to solidify its internal capabilities and seize new opportunities during the industry's adjustment period [5]

Group 1 - The company appointed Mr. Lu Chupeng as a non-independent director on September 18 [1] - The board of directors and senior management of the company consists of 9 members, excluding independent directors and supervisors [1] - Mr. Lu Chupeng has held various positions within the company since 2006, including chairman of the supervisory board and vice president [1] Group 2 - The company, founded in August 1993, specializes in the research, production, and sales of gas water heaters, gas stoves, and gas wall-hung boilers [3] - The company has expanded into the new energy water heating system sector and has become a leading enterprise in the domestic gas appliance industry [3] - According to the financial report for the first half of 2025, the company achieved a revenue of 4.083 billion yuan, a year-on-year increase of 7.14%, and a net profit attributable to shareholders of 379 million yuan, up 6.68% year-on-year [3]

Core Insights - The company is adopting a cautious yet proactive approach towards rapid expansion through mergers and acquisitions, while closely monitoring industry dynamics and market opportunities [3] - The company plans to enhance production efficiency at its factories in Thailand and Egypt in 2025, and is advancing the second phase of construction and capital expansion at its Thailand facility [3] - The net cash flow from operating activities decreased by 11.72% year-on-year in the first half of 2025, primarily due to increased cash outflows from seasonal raw material procurement [3] - The net profit attributable to shareholders increased by 6.68% year-on-year in the first half of 2025, driven by business expansion and cost control [3] - The company is focusing on digital transformation to improve operational efficiency, control costs, and respond quickly to market changes [3] - Future product innovations will target green energy, smart home solutions, and kitchen and bathroom health, with specific launch dates to be announced later [3] - The company is enhancing its market expansion strategy both domestically and internationally, particularly along the "Belt and Road" initiative, and is strengthening partnerships with Southeast Asian distributors [3] Investor Relations Activity - The investor relations activity was held online on September 19, 2025, from 15:30 to 17:00, via the "Panorama Roadshow" website [2] - The event featured the company's chairman and vice president, who engaged with a wide range of investors [2]

Group 1: Company Expansion and Market Strategy - The company is considering mergers and acquisitions for rapid expansion while maintaining a cautious and proactive approach [2] - Future global market plans include establishing an overseas manufacturing layout and enhancing supply chain security [2][3] - The company aims to deepen market penetration in emerging and mature markets, focusing on reducing trade dependency on single regions [2][5] Group 2: Financial Performance and Cash Flow Management - In the first half of 2025, the company's net cash flow from operating activities decreased by 11.72% year-on-year due to increased cash outflows from seasonal raw material procurement [3] - The net profit for the first half of 2025 increased by 6.68% year-on-year, driven by steady business expansion and effective cost control [3][4] Group 3: Digital Transformation and Innovation - The company has invested in digital transformation, resulting in improved operational efficiency and cost control through real-time data sharing and AI applications [4] - Future investments in digitalization will follow a "strategic orientation, demand-based investment" principle to ensure resource alignment with transformation needs [4] Group 4: Product Development and Market Adaptation - The company plans to innovate in green energy, smart home, and kitchen health product areas, with new products to be announced in future releases [4] - Strategies to adapt to increasing global competition include enhancing digital transformation, strengthening technological innovation, and optimizing global layout [5]

Summary of Boss Electric's Conference Call Company Overview - **Company**: Boss Electric - **Industry**: Kitchen Appliances Key Financial Performance - **Revenue**: Decreased by 2.58% year-on-year in the first half of the year, but showed growth in Q2 [2][4] - **Net Profit**: Decreased by 6.28%, with a non-recurring profit decline of 2.4% [2][4] - **Operating Cash Flow**: Increased by 23% year-on-year, indicating resilience in challenging conditions [2][4] Sales Channel Performance - **Retail Channel**: Grew by 8.86% in the first half, with Q2 growth of 7.59% [2][5] - **E-commerce Channel**: Decreased by 7.65% in the first half but stabilized in Q2 [2][5] - **Engineering Channel**: Declined by 22% overall, with a Q2 drop of 17.7% [2][5] - **Overseas Channel**: Grew by 52%, contributing approximately 40 million yuan [2][5] Product and Market Expansion - **New Product Categories**: Introduced cabinets with sales of approximately 100 million yuan, partially offsetting declines in the new housing market [2][6] - **International Market**: Initial success in overseas revenue growth, particularly in North America [2][6][12] Dividend and Investor Confidence - **Mid-term Dividend Plan**: Maintained consistent dividend amounts, reflecting commitment to shareholder returns and financial stability [2][7] E-commerce Strategy Adjustments - **Q1 Decline**: E-commerce faced challenges due to national subsidy policy impacts [2][9] - **Q2 Recovery**: Implemented organizational changes, talent acquisition, and a shift towards new media strategies, resulting in recovery [2][9] Gross Margin Improvement - **Q2 Gross Margin**: Increased by 1,500 basis points, attributed to supply chain reforms and reduced raw material costs [2][10][28] Brand Performance - **Star Series**: Significant contribution to user acquisition, maintaining the top position in the hood market despite a decline in average price [3][11] - **Mingqi Brand**: Achieved a 23% growth rate in hoods, entering the top ten in online rankings [3][11] Challenges and Future Outlook - **Real Estate Market Impact**: Ongoing challenges from the declining real estate market affecting kitchen appliance demand [4][21] - **Marketing Expenses**: Expected to remain stable between 25% and 27% of revenue, with variations due to promotional activities [16] Inventory and Tax Adjustments - **Inventory Write-back**: A write-back of 18 million yuan due to previous provisions and returns [18] - **Tax Benefits**: Decrease in software tax refunds and VAT reductions due to policy changes [19][31] Future Capital Expenditure and M&A Plans - **Capital Expenditure**: Planned investment of 350 million yuan for renovations and potential acquisitions [32] - **Dividend Strategy**: Future dividends will be influenced by acquisition outcomes, with a commitment to maintain or exceed current levels [32] Market Dynamics - **Shift to Second-hand Housing**: Increased proportion of second-hand housing due to a significant decline in new housing [33] This summary encapsulates the key points from Boss Electric's conference call, highlighting financial performance, sales channel dynamics, product expansion, and strategic adjustments in response to market conditions.

Core Viewpoint - The report highlights a significant decline in the financial performance of Zhejiang Sanfer Electric Co., Ltd. for the first half of 2025, with a notable drop in revenue and net profit compared to the same period last year, attributed to reduced sales volume and fewer new orders [2][4][10]. Company Overview and Financial Indicators - Company Name: Zhejiang Sanfer Electric Co., Ltd. [2] - Stock Code: 605336 [2] - Total Revenue for H1 2025: 130.36 million RMB, a decrease of 44.15% year-on-year [4] - Total Profit: 5.54 million RMB, down 88.17% year-on-year [4] - Net Profit Attributable to Shareholders: 3.30 million RMB, a decline of 91.80% year-on-year [4] - Total Assets: 2.02 billion RMB, down 4.67% from the previous year [4] Industry and Business Situation - The integrated stove industry is experiencing a downturn, with a 27.6% decline in retail sales and a 24.1% drop in retail volume in the first half of 2025 [5][10]. - The market for new housing is shrinking, impacting the kitchen appliance sector, although government policies promoting appliance upgrades may improve demand in the future [5][10]. - The company focuses on integrated kitchen appliances, emphasizing innovation and user needs to enhance product offerings [6][10]. Product Development and Innovation - The company has been continuously upgrading its integrated stove products since 2005, expanding its product line to include various kitchen appliances [17][25]. - Recent product launches include the Time-Space S5 series and Ideal L3 series, designed to meet diverse consumer needs [17][25]. - The company collaborates with Zhejiang University to enhance product design and functionality, integrating advanced technology into its offerings [18][20]. Marketing and Sales Strategy - The company employs a flat and efficient dealer model, maintaining nearly 1,000 dealers and approximately 1,900 sales terminals [9][12]. - It actively develops online and offline sales channels, leveraging e-commerce platforms like Tmall and JD.com to reach a broader audience [12][14]. - The company emphasizes brand positioning as a high-end kitchen appliance provider, targeting middle to high-income consumers [10][11]. Customer Engagement and Service - The company has implemented the "Sanfer Smile Service 3.0" initiative to enhance customer service and satisfaction [22][23]. - It focuses on building long-term relationships with customers through various engagement strategies, including loyalty programs and after-sales support [16][24]. - The company aims to improve customer experience by offering comprehensive service solutions and maintaining high service standards [22][24].

Core Viewpoint - The report highlights the financial performance and strategic initiatives of Guangdong Vanward New Electric Co., Ltd. for the first half of 2025, emphasizing its position in the kitchen and bathroom appliance industry and the ongoing transformation towards a more sustainable and innovative business model [1][2]. Financial Performance - The company's revenue for the first half of 2025 reached approximately 4.08 billion yuan, representing a 7.14% increase compared to the same period last year [4]. - The net profit attributable to shareholders was approximately 410 million yuan, reflecting a 3.00% increase year-on-year [4]. - Basic earnings per share increased to 0.51 yuan, up 6.25% from the previous year [4]. Industry Overview - The kitchen and bathroom appliance industry is entering a mature phase with slowing overall growth but significant structural opportunities, characterized by both stock competition and consumption upgrades [3][4]. - The market is dominated by three main types of enterprises: specialized brands, comprehensive appliance giants, and international high-end brands, with competition increasingly focusing on ecological collaboration and scenario solutions [3][4]. Market Trends - The water heater market saw retail sales reach 6.05 million units in the first half of 2025, with a retail value of 10.6 billion yuan, indicating a slight increase in volume but a decline in value for electric water heaters [5]. - The range hood market experienced a retail value of 16.7 billion yuan, showing an 11.8% year-on-year growth, driven by replacement cycles and policies promoting old-for-new exchanges [6]. Company Positioning - Vanward is recognized as one of the top ten global water heater brands and has maintained the highest market share in gas water heaters in China for 21 consecutive years [7][9]. - The company aims to transition from a single product manufacturer to a scenario ecological solution provider, focusing on low-carbon and energy-efficient products [9][10]. Strategic Initiatives - The company is enhancing its research and development capabilities, focusing on technological breakthroughs and product innovation, with 168 new products launched in the reporting period [12][24]. - Vanward is expanding its international presence with production bases in Thailand and Egypt, aiming to mitigate supply chain risks and enhance global operational capabilities [25][26]. Marketing and User Engagement - The company is implementing a direct-to-consumer (DTC) strategy to improve product structure and channel efficiency, leveraging digital platforms for user engagement [15][18]. - Innovative marketing strategies, including collaborations with influencers and content creation on social media platforms, have significantly boosted brand visibility and consumer engagement [26][27].