截至2025年4月26日，火星人、浙江美大、亿田智能、帅丰电器四家集成灶上市企业2024年年报悉数出炉。无一例外，四家企业均交出了营收、净利润双降 的成绩单。 火星人营收同比暴跌35.7%，净利润仅剩千万元；浙江美大净利润缩水超76%；亿田智能与帅丰电器同样深陷营收腰斩、利润断崖式下滑的泥潭。这场"集体 跳水"背后，是集成灶行业进入"至暗时刻"的残酷现实，也表明行业到了需要转型求生的关键路口。 01 财务数据透视：行业进入"速冻期" 从核心财务指标看，四家企业的经营指标全面恶化，行业已从结构性调整滑向系统性危机。 | 企业名称 营业收入(亿元) | | | --- | --- | | 火星人 | 13.76 | | 浙江美大 | 8.77 | | 化田智能 | 7.03 | | 帅丰电器 | 4.29 | 数据可以用行业全面失速来总结，四家企业营收平均跌幅超40%，净利润平均缩水更是超过了80%。 对比三年前行业数据巅峰期，其中，火星人作为行业龙头，净利润仅剩2021年巅峰期（2.47亿元）的约4.5%；浙江美大连续三年营收下滑，2024年营收规模 较2021年的21.64亿元已蒸发超60%。季度环比数据显示 ...

Group 1: Product Development and Innovation - The company has a leading product R&D system and team, continuously launching benchmark products through technological iterations, enhancing industry performance standards [2][3] - The newly upgraded X5 Pro integrated stove features the proprietary "Galaxy Platform" technology, offering four-in-one functions and achieving a suction power of 25m³/min and static pressure of 1200Pa, significantly improving oil fume handling efficiency [2][3] - The Q60 steam and bake integrated stove, introduced at the 2025 AWE, utilizes biomimetic whale suction technology, achieving a cruising air volume of 29m³/min and a low noise level of 47 decibels, enhancing user experience [3] Group 2: Market Trends and Strategic Positioning - The integrated stove market is transitioning from scale expansion to high-quality development, driven by technological advancements and evolving consumer demands [4] - The company emphasizes a long-term strategy to address short-term challenges posed by real estate cycles and changing consumer needs, maintaining its leading position in the integrated kitchen appliance industry [4] - Future kitchens will focus on smart, humanized, and health-oriented designs, evolving from single-function spaces to family social centers, with the company aiming to leverage technological innovation to meet these demands [4] Group 3: Investment and Risk Management - The company has invested RMB 198 million in a private equity fund to explore projects aligned with its strategic development, enhancing its business layout and competitive edge [6] - The fund has invested in three projects, including Beijing Xingdong Jiyuan Technology Co., but the company holds a minority stake and views these as financial investments [6] - Investment risks include long recovery periods and potential underperformance due to macroeconomic factors, necessitating close monitoring of fund management and project performance [6]