证券代码：603277 证券简称：银都股份 公告编号：2025-041 银都餐饮设备股份有限公司（以下简称"公司"）于2025年08月22日、2025 年9月10日召开第五届董事会第十三次会议决议、2025年第一次临时股东大会， 审议通过了《关于取消监事会及修订公司章程并办理工商变更登记的议案》及《关 于变更注册资本及修订公司章程并办理工商变更登记的议案》。 具体详见公司于2025年08月26日在上海证券交易所网站（www.sse.com.cn） 披露的《银都餐饮设备股份有限公司关于取消监事会、变更注册资本及修订<公 司章程>并办理工商变更登记的公告》（编号：2025-033）。 公司于2025年9月10日召开第五届董事会第十四次会议，审议通过了《关于 选举代表公司执行公司事务董事的议案》《关于确认审计委员会成员及召集人的 议案》。 具体详见公司于2025年09月12日在上海证券交易所网站（www.sse.com.cn） 披露的《银都餐饮设备股份有限公司第五届董事会第十四次会议决议公告》（编 号：2025-038）。 二、工商变更完成情况 截止到本公告日，公司完成了上述《章程》修订、变更注册资本等事项的工 商 ...

重要内容提示： 每股分配比例 A 股每股现金红利0.35元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/10/17 | － | 2025/10/20 | 2025/10/20 | 证券代码：603277 证券简称：银都股份 公告编号：2025-040 银都餐饮设备股份有限公司 2025年半年度权益分派实施公告 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。 差异化分红送转： 否 一、 通过分配方案的股东会届次和日期 本次利润分配方案经公司2025 年 5 月 19 日的2024年年度股东会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3. 分配方案： 本次利润分配以方案实施前的公司总股本613,699,305股为基数，每股派发现金红利0.35 元（含税），共计派发 ...

Core Viewpoint - Atosa USA, a subsidiary of Yindu Co., has been awarded the International Dairy Queen's Best Equipment Supplier Award for 2025, recognizing its exceptional support and resources provided to the DQ system over the past year [1] Group 1: Financial Performance - In the first half of 2025, the company achieved revenue of 1.426 billion yuan, a year-on-year increase of 4.35%, with a net profit attributable to shareholders of 347 million yuan, remaining flat year-on-year [2] - Revenue from commercial refrigeration equipment reached 1.088 billion yuan, up 7.38% year-on-year, with a gross margin of 44.39%, down 4.27 percentage points [2] - Self-service equipment revenue was 52 million yuan, down 27.84% year-on-year, with a gross margin of 36.10%, up 1.96 percentage points [2] - Western kitchen equipment revenue was 247 million yuan, up 15.16% year-on-year, with a gross margin of 40.09%, down 4.28 percentage points [2] - Revenue from maintenance parts was 23 million yuan, up 16.14% year-on-year, with a gross margin of 46.34%, down 21.87 percentage points [2] - Kitchen engineering equipment revenue was 4 million yuan, up 14.46% year-on-year, with a gross margin of 10.24%, down 10.54 percentage points [2] Group 2: Production Capacity and Strategy - The company's production base in Thailand has completed the main construction and is entering the capacity ramp-up phase, with initial production meeting expectations [2] - The company has identified "equipment intelligence" as a key strategic direction, focusing on integrating automation and intelligence into its product development [3] - The company is actively recruiting high-end technical talent to enhance innovation in the fields of equipment intelligence and automation [3] Group 3: Short-term Challenges and Outlook - The company's gross margin for the first half of 2025 was 43.1%, down 3.4 percentage points, with a sales expense ratio of 14.9%, up 1.8 percentage points [3] - Short-term profitability has been impacted by tariff disturbances, but improvements are expected as tariff policies are implemented and overseas production capacity increases [3] - Profit forecasts for 2025-2027 are estimated at 610 million, 698 million, and 785 million yuan respectively, maintaining a "recommended" rating [4]

Investment Rating - The report assigns an "Overweight" rating for the machinery industry [4]. Core Insights - The machinery industry maintains high prosperity, with both domestic sales and exports experiencing rapid growth. Companies with global manufacturing layouts, brand output capabilities, and channel integration advantages are recommended for investment. In the context of changing external environments and policy negotiations, companies with diversified capacity allocation, stable customer loyalty, and pricing power are expected to achieve sustained growth amid global trade adjustments. Key recommended stocks include Juxing Technology, Yindu Co., Taotao Vehicle, Honghua Digital Technology, and Jack Co. [5][20]. Summary by Sections Macroeconomic Overview - The Federal Reserve announced a 25 basis point rate cut, bringing the federal funds rate target range to 4.00%-4.25%. In August, the US CPI increased by 2.9% year-on-year, with a core CPI rise of 3.1%. Non-farm employment added 22,000 jobs [5]. Cost Tracking - As of September 17, 2025, the USD to RMB exchange rate was 7.11, a decrease of 0.23% from September 10. The Euro to RMB exchange rate was 8.41, an increase of 0.93% from September 10. The shipping costs for major routes showed a year-on-year decline, with the comprehensive index of China's export container freight rate index (CCFI) at 1125.30, down 38.11% year-on-year [5]. Industry High-Frequency Data Tracking - The report includes various industry metrics, such as the US restaurant performance index (RPI) and housing market index, indicating trends in consumer behavior and real estate activity. For instance, the US housing market index in September showed a year-on-year decline of 21.95% [5]. Company Earnings Forecast - The report provides earnings forecasts for key companies in the machinery sector, projecting EPS growth for the years 2025 to 2027, with corresponding PE ratios indicating potential for investment [20].

Group 1 - The core viewpoint of the news is that Yindu Co., Ltd. has seen a significant stock price increase of 5.65%, reaching 19.45 CNY per share, with a total market capitalization of 11.936 billion CNY as of the report date [1] - Yindu Co., Ltd. specializes in the research, production, sales, and service of commercial catering equipment, with its main business revenue composition being 76.50% from commercial refrigeration equipment, 17.37% from Western kitchen equipment, and 3.63% from self-service equipment [1] - The company is located in Hangzhou, Zhejiang Province, and was established on April 10, 2003, with its listing date on September 11, 2017 [1] Group 2 - In terms of fund holdings, Invesco Great Wall Fund has a significant position in Yindu Co., Ltd., with its Core Competitiveness Mixed A Fund (260116) increasing its holdings by 1.1 million shares in the second quarter, bringing the total to 2.9 million shares, which constitutes 3.46% of the fund's net value [2] - The fund has achieved a year-to-date return of 15.91% and a one-year return of 25.07%, ranking 4936 out of 8244 and 5584 out of 8066 in its category, respectively [2] - The fund manager, Yu Guang, has a tenure of 15 years and 121 days, with the fund's total asset size being 8.481 billion CNY [3]

Group 1 - The company, Yindu Co., announced the election of Ms. Zhang Yanjie as the employee representative director of the fifth board of directors during the employee representative meeting held on September 10, 2025 [1]

Investment Rating - The report maintains a strong buy recommendation for the industry, highlighting specific companies such as Juxing Technology, QuanFeng Holdings, Jack Technology, and Honghua Digital Science as key investment opportunities [4][9]. Core Insights - The overall revenue growth rate for the sample companies in the first half of 2025 was 15.04%, while the net profit growth rate was 23.34%, indicating that profit growth outpaced revenue growth [3][15]. - The average gross margin for the sample companies in the first half of 2025 was 30.95%, a slight decrease of 0.53 percentage points year-on-year, while the average net margin increased by 0.96 percentage points to 14.15% [3][21]. - Cash flow conditions improved significantly, with operating net cash flow rising from 5.384 billion in the first half of 2024 to 6.978 billion in the first half of 2025 [3][21]. Summary by Sections 1. Overview of Consumer Goods Export Chain Companies - The report analyzes 21 companies in the mechanical industry that primarily serve the C-end consumer market or manufacture products for C-end consumption, with a significant portion of their revenue coming from overseas markets [2][12]. 2. Stock Performance - Stock performance showed significant differentiation, with companies in the garden tools and two-wheeler sectors performing well. Notable performers in Q1 2025 included Jiexing Technology and QuanFeng Holdings, driven by the robotics sector [7][13]. 3. Profit Growth Outpacing Revenue Growth - The report notes that several companies experienced revenue growth exceeding 20%, including Daya Co. with a 132.3% increase in revenue due to seasonal demand and acquisitions [15][16]. 4. Profitability Improvement - Most sample companies demonstrated strong profitability, with net profit margins increasing year-on-year. Companies like Yindu Co. and Honghua Digital Science reported high net margins of 24.3% and 25.47%, respectively [21][22]. 5. Cash Flow Status - The cash flow situation for the sample companies is reported to be good, with a net cash ratio consistently above 1, indicating healthy cash flow management [3][21]. 6. Future Outlook - The report emphasizes the importance of monitoring tariff and interest rate changes, which could catalyze demand in certain sub-industries. The anticipated interest rate cuts in the U.S. are expected to enhance demand elasticity for related products [8][9]. 7. Investment Recommendations - The report suggests focusing on companies with advanced global layouts that are likely to gain market share amid tariff changes. Specific recommendations include Juxing Technology, QuanFeng Holdings, and Jack Technology [8][9].

银都餐饮设备股份有限公司 关于非独立董事辞职暨选举职工代表董事的公告 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个别及连带责任。 证券代码：603277 股票简称：银都股份 公告编号：2025-039 一、董事离任情况 （一）提前离任的基本情况 银都餐饮设备股份有限公司（以下简称"公司"）董事会收到非独立董事蒋 小林先生的书面辞职文件，因个人原因辞去公司第五届董事会非独立董事相关职 务。辞职后，非独立董事蒋小林先生将不再担任公司其他任何职务。 | 蒋小林 | | | | 姓名 | | | | --- | --- | --- | --- | --- | --- | --- | | 董事 月 10 日 | 非独立 2025 年 9 | | | 离任时间 务 | 离任职 | | | 月 5 | 2027年5 | | 日 | 期到期 | 原定任 | | | 日 | | | | | | | | 原因 | 个人 | | | 原因 | 离任 | | | 否 | | 任职 | 股子公司 | 司及其控 | 在上市公 | 是否继续 | | 不适用 | ...

一、董事会会议召开情况 银都餐饮设备股份有限公司（以下简称"公司"）第五届董事会第十四次会 议于 2025 年 9 月 10 日 17:00（星期三）在浙江省杭州市临平区星桥街道博旺街 56 号公司会议室以现场结合通讯的方式召开。全体董事同意豁免会议通知时间 要求，本次会议应出席董事 7 人，实际出席董事 7 人（其中：通讯方式出席董事 3 人）。 证券代码：603277 证券简称：银都股份 公告编号：2025-038 银都餐饮设备股份有限公司 第五届董事会第十四次会议决议公告 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个别及连带责任。 表决结果：7 票同意，0 票反对，0 票弃权。 会议由董事长周俊杰先生主持，部分高管列席。会议召开符合有关法律、 法规、规章和《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： （一）审议通过《关于选举代表公司执行公司事务董事的议案》 三、备查文件 1、第五届董事会第十四次会议决议。 特此公告。 二、董事会会议审议情况 第五届董事会同意选举周俊杰先生为代表公司执行公司事务的董事，并担 任公 ...

2025 年第一次临时股东大会的 法律意见书 浙江省杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼 310007 电话：0571-87901111 传真：0571-87901500 法律意见书 浙江天册律师事务所 关于 银都餐饮设备股份有限公司 法律意见书 浙江天册律师事务所 关于银都餐饮设备股份有限公司 2025 年第一次临时股东大会的 法律意见书 编号：TCYJS2025H1462 号 致：银都餐饮设备股份有限公司 浙江天册律师事务所（以下简称"本所"）接受银都餐饮设备股份有限公司 （以下简称"银都股份" 或"公司"）的委托，指派本所律师参加公司 2025 年第 一次临时股东大会，并根据《中华人民共和国证券法》以下简称（"证券法"）、 《中华人民共和国公司法》（以下简称"公司法"）和中国证券监督管理委员会 关于《上市公司股东会规则》（以下简称"《股东会规则》"）等法律、法规和 其他有关规范性文件的要求出具本法律意见书。 在本法律意见书中，本所律师仅对本次股东大会表决程序及表决结果的合法 有效性发表意见，不对会议所审议的议案内容和该等议案中所表述的事实或数据 的真实性和准确性发表意见。 本法律意见书仅供 ...