万和电气今年以来股价跌8.91%，近5个交易日跌1.27%，近20日跌9.97%，近60日跌15.30%。 资料显示，广东万和新电气股份有限公司位于广东省佛山市顺德高新区(容桂)建业中路13号，成立日期 2003年12月29日，上市日期2011年1月28日，公司主营业务涉及厨卫电器的研发、生产和销售。主营业 务收入构成为：厨房电器50.15%，生活热水43.90%，其他3.60%，其他(补充)1.96%，综合服务0.39%。 万和电气所属申万行业为：家用电器-厨卫电器-卫浴电器。所属概念板块包括：智能家居、家用电器、 独角兽概念、创投、深股通等。 2月24日，万和电气盘中上涨2.09%，截至11:26，报9.30元/股，成交1976.57万元，换手率0.32%，总市 值69.15亿元。 截至9月30日，万和电气股东户数1.89万，较上期增加20.40%；人均流通股34968股，较上期减少 16.95%。2025年1月-9月，万和电气实现营业收入55.24亿元，同比增长5.54%；归母净利润4.79亿元，同 比增长5.57%。 资金流向方面，主力资金净流入30.80万元，大单买入195.67万元，占比9.90% ...

文/羊城晚报全媒体记者 杨苑莹 产销两端协同发力，政策红利精准释放。这个春节，以家电焕新为抓手，既点燃了本地消费市场活力， 也让"顺德造"家电畅销海内外，为全年消费提振和产业高质量发展奠定坚实基础。 编辑：束孟卿 对于春节假期消费市场，李云泽充满信心，预计门店春节期间销售额可达600万至700万元。 消费端持续火爆，生产端同样热火朝天。2026年伊始，顺德各大家电企业迅速进入满负荷生产状态，开 足马力赶制订单，全力满足国内外市场需求。 春节前，记者走进万和总部生产基地，车间内生产繁忙。机械臂精准作业，机器轰鸣声不断，生产线高 效运转，各岗位工人认真开展组装、检测等工作。车间外，满载产品的货车陆续发往全球各地。"我们 车间主要生产燃气热水器，产品销往欧洲、非洲等多个地区，年前生产计划已全部排满，将忙碌至农历 腊月廿五、廿六才能完成现有订单。"万和燃热总装车间主任谢良松说。 新年伊始，万和海外市场迎来"开门红"，在埃及市场成功拿下百万级订单。"海外订单实现良好开局， 预计一季度订单稳中有升，呈现产销两旺、供需两畅态势。同时，受国家补贴政策带动，绿色节能、高 端化产品销量增长明显，一级能效热水器备受市场青睐，订单量 ...

Group 1 - The core viewpoint of the article highlights the surge in home appliance consumption during the New Year, driven by government subsidies, corporate discounts, and consumer demand for innovative products [1][4][12] - The home appliance market is experiencing a significant increase in sales, with reports indicating that sales revenue has exceeded ten million yuan since the beginning of the year, with 85% of transactions occurring after in-store experiences [1][4] - The combination of national and local subsidies, along with additional discounts from retailers and brands, has resulted in overall price reductions of 30% to 40% on certain appliances, making them more attractive to consumers [4][12] Group 2 - The production side of the home appliance industry is also thriving, with companies in Shunde ramping up production to meet both domestic and international demand, indicating a robust supply chain [9][12] - Companies like Wanhe are reporting successful overseas orders, including a significant order in Egypt, and are maintaining production schedules to ensure continuous supply during the Chinese New Year [12][13] - The "Guangdong Goods Go Global" initiative is further supporting the home appliance industry by promoting high-quality products and enhancing brand visibility in international markets [12][13]

Investment Rating - The report maintains a positive outlook on the home appliance industry, with a focus on the "buy" and "outperform" ratings for specific companies within the sector [10]. Core Insights - The "old-for-new" policy implemented in 2024 has significantly stimulated the home appliance market, expanding the subsidy scope to include eight categories, resulting in notable retail growth for certain products [4]. - The report highlights a divergence in performance among kitchen appliance categories, with traditional products facing declining sales while emerging categories show mixed results [4]. - The 2026 "old-for-new" policy is expected to benefit leading brands with superior energy efficiency and performance, particularly in the kitchen appliance sector [4]. Summary by Sections Retail Data Analysis - In 2024, the retail sales of kitchen appliances are projected to reach CNY 362 billion for range hoods (up 14.9% YoY), CNY 204 billion for gas stoves (up 15.7% YoY), CNY 236 billion for electric water heaters (up 1.3% YoY), and CNY 296 billion for gas water heaters (up 8.8% YoY) [4]. - For 2025, the overall retail sales of kitchen and bathroom appliances are expected to decline to CNY 1,613 billion (down 8.5% YoY), with a total volume of 89.77 million units (down 5.3% YoY) [4]. Market Share Insights - In the offline market, leading brands like Boss and Fotile dominate with nearly 60% market share in range hoods and gas stoves, while online competition is intensifying with brands like Midea and Xiaomi rapidly gaining market share [4]. - The report notes that in the dishwasher category, Boss and Fotile each hold close to 20% market share, disrupting the previous dominance of Siemens [4]. Investment Recommendations - The report recommends investing in established brands such as Boss Electric and Huashang Co. in traditional categories, and Wanhe Electric in the water heater segment, which are expected to benefit from the new subsidy policies [4].

行 业 及 产 业 行 业 研 究 / 行 业 点 相关研究 证 券 研 究 报 告 证券分析师 刘正 A0230518100001 liuzheng@swsresearch.com 刘嘉玲 A0230522120003 liujl@swsresearch.com 联系人 刘嘉玲 A0230522120003 liujl@swsresearch.com 家用电器 2026 年 02 月 13 日 25H2 厨电换新高基数压力渐显， 26 年补贴聚焦核心品类 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件提供给 中庚基金 使用。1 评 - ⚫ 24 年以旧换新激活家电消费市场。2024 年"以旧换新"政策落地后，家电品类补贴范 围扩容，拉动需求成效显著：除了 09 年已经涉及的彩电、冰箱、洗衣机、空调、电脑 5 个补贴品类外，新增热水器、家用灶具、吸油烟机 3 个品类，共计补贴 8 大品类。根 据奥维云网推总数据，2024 年油烟机实现零售额 362 亿元，同比增长 14.9%，燃气灶 实现零售额 204 亿元，同比增长 15.7%，电热实现零售额 236 亿元，同比增长 1. ...

证券日报网讯2月3日，万和电气（002543）在互动平台回答投资者提问时表示，公司为国内热水器、厨 房电器及热水系统领域的专业制造企业，与深圳市优必选科技股份有限公司暂无业务往来，目前亦未涉 及液冷技术相关业务。 ...

Group 1 - The kitchen and bathroom appliance sector increased by 1.86% on February 3, with Zhejiang Meida leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] - Key stocks in the kitchen and bathroom appliance sector showed varied performance, with Zhejiang Meida rising by 6.51% to a closing price of 9.49 [1] Group 2 - The main capital inflow in the kitchen and bathroom appliance sector was 28.25 million yuan, while retail investors experienced a net outflow of 5.27 million yuan [1] - Among individual stocks, Boss Electric had a main capital inflow of 34.75 million yuan, but also saw a retail outflow of 16.90 million yuan [2] - Zhejiang Meida experienced a main capital inflow of 10.21 million yuan, with retail investors contributing a net inflow of 0.49 million yuan [2]

格隆汇2月3日丨万和电气(002543.SZ)在投资者互动平台表示，公司为国内热水器、厨房电器及热水系 统领域的专业制造企业，与深圳市优必选科技股份有限公司暂无业务往来，目前亦未涉及液冷技术相关 业务。 ...

Market Overview - The kitchen and bathroom appliance sector experienced a decline of 2.77% on February 2, with Wanhe Electric leading the drop [1] - The Shanghai Composite Index closed at 4015.75, down 2.48%, while the Shenzhen Component Index closed at 13824.35, down 2.69% [1] Stock Performance - The following stocks in the kitchen and bathroom appliance sector showed notable price changes: - Yitian Intelligent: Closed at 33.53, down 0.68% with a trading volume of 26,500 shares and a turnover of 89.97 million yuan [1] - Zhejiang Meida: Closed at 8.91, down 0.89% with a trading volume of 110,900 shares and a turnover of 98.60 million yuan [1] - Rishidongfang: Closed at 9.57, down 0.93% with a trading volume of 227,700 shares and a turnover of 220 million yuan [1] - Huati Co.: Closed at 6.20, down 1.59% with a trading volume of 115,500 shares and a turnover of 72.37 million yuan [1] - Wanhe Electric: Closed at 9.04, down 9.96% with a trading volume of 218,200 shares and a turnover of 201 million yuan [1] Capital Flow - The kitchen and bathroom appliance sector saw a net inflow of 2.14 million yuan from institutional investors, while retail investors experienced a net outflow of 11.79 million yuan [1] - The capital flow for individual stocks is as follows: - Boss Electric: Net inflow of 11.70 million yuan from institutional investors, with a net outflow of 20.41 million yuan from retail investors [2] - Yitian Intelligent: Net inflow of 9.23 million yuan from institutional investors, with a net outflow of 2.75 million yuan from retail investors [2] - Wanhe Electric: Net outflow of 17.06 million yuan from institutional investors, with a net inflow of 13.71 million yuan from retail investors [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002543 证券简称：万和电气 公告编号：2026-002 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、本期业绩预计情况 1.业绩预告期间：2025年1月1日至2025年12月31日 2.业绩预告情况：预计净利润为正值且属于同向下降50%以上情形 二、与会计师事务所沟通情况 报告期内，公司始终锚定既定战略发展规划，紧跟行业发展节奏，主动研判并积极应对外部市场环境的 复杂变化与消费趋势的迭代升级，多措并举推进经营布局优化与业务提质增效。本期业绩变动主要原因 如下： 1.泰国、埃及工厂相继投产，新厂尚处于产能爬坡阶段，固定资产折旧摊销、前期运营筹备及市场开拓 等成本费用阶段性增长，对本期净利润造成一定影响。长期来看，海外生产基地的落地将完善公司全球 化产能布局，降低物流、关税等综合成本，提升海外市场响应速度与市场份额，为公司长远发展及持续 盈利能力提升奠定坚实基础。 2.公司持续推进海外市场布局，出口业务收入占比稳步提升，出口业务为抢抓市场订单适度调整定价策 略，导致毛利率有所下降。公司后续将搭 ...