Group 1 - The core viewpoint of the news highlights the significant decline in the financial performance of Huishen Holdings, with a reported total revenue of 1.009 billion yuan, a year-on-year decrease of 72.3%, and a net profit loss of 1.707 billion yuan, reflecting a staggering year-on-year decrease of 924.12% [1][2] - Huishen Holdings' stock price has seen a substantial drop of 38.46% over the past month and year, underperforming the Hang Seng Index, which has increased by 10.27% [1] - The company has a negative price-to-earnings ratio of -0.03, ranking 88th in the household appliances and goods industry, which has an average price-to-earnings ratio of 13.02 [2] Group 2 - Huishen Holdings is recognized as the largest panel furniture exporter in China, with a vertically integrated business model that combines product design, development, manufacturing, and sales [3] - The company focuses on original design manufacturing of panel furniture and provides comprehensive manufacturing solutions, including functional and economical furniture, soft furniture, outdoor furniture, and sports and leisure equipment [3] - As of June 30, 2020, Huishen Holdings occupied an area of approximately 330,000 square meters and employed over 3,000 people, with Walmart being one of its major clients [3]

Revenue Performance - For the twelve months ending December 31, 2024, total revenue was RMB 1,008,525,000, a decrease of 72.3% compared to RMB 3,640,712,000 for the same period in 2023[12] - The revenue from the ODM segment accounted for 92.7% of total revenue, amounting to RMB 895,734,000, down 70.3% from RMB 3,012,635,000 in the previous year[16] - The company reported a significant decline in revenue from the US market, which fell to RMB 460,776,000, representing a 79.9% decrease from RMB 2,290,770,000 in the prior year[14] - The company reported a revenue of RMB 1,008.525 million for the twelve months ended December 31, 2024, compared to RMB 3,640.712 million for the same period in 2023[48] - Revenue from external customers in the United States fell from RMB 2,290,770 thousand in 2023 to RMB 460,776 thousand in 2024, a decrease of about 80.0%[62] - Total revenue for 2024 reached RMB 1,008,525 thousand, a decrease of 72.3% compared to RMB 3,640,712 thousand in 2023[63] Profitability and Loss - The gross profit margin for the total revenue was 19.9%, down from 13.3% in the previous year, indicating a challenging cost environment[12] - The gross loss for the period was RMB 200.221 million, a significant decline from a gross profit of RMB 483.313 million in the previous year[48] - The net loss attributable to the owners of the company for the period was RMB 1,706.770 million, compared to a profit of RMB 207.103 million in the previous year[48] - The basic and diluted earnings per share for the period were RMB (46.34), a decrease from RMB 6.75 in the previous year[48] - The company reported a net loss attributable to shareholders of RMB (1,706,770) thousand for 2024, compared to a profit of RMB 207,103 thousand in 2023, marking a substantial decline in profitability[69] Cost Management - The cost of materials consumed decreased by 64.9% to RMB 921,287,000 from RMB 2,626,545,000 in the previous year[19] - The cost of goods sold recognized as expenses was RMB 1,208,746 thousand, down from RMB 3,157,399 thousand in 2023, indicating a significant reduction in inventory costs[65] - The company incurred distribution and selling expenses of RMB 286.210 million, up from RMB 73.658 million in the previous year[48] - Research and development expenses for 2024 were RMB 68,253 thousand, a decrease of 55.3% from RMB 152,602 thousand in 2023, reflecting a shift in investment strategy[65] Cash Flow and Financial Position - The operating cash flow showed a net outflow of RMB 327,360,000, compared to a net outflow of RMB 93,662,000 in the previous year, indicating increased cash usage[19] - The company reported a net cash outflow from operating activities of RMB 327,360 thousand in 2024, compared to an outflow of RMB 93,662 thousand in 2023[54] - Cash and cash equivalents decreased from RMB 463,355 thousand at the end of 2023 to RMB 5,586 thousand at the end of 2024, a decline of approximately 98.8%[57] - The total equity decreased from RMB 5,254,581 thousand in 2023 to RMB 3,622,074 thousand in 2024, a decline of approximately 30.9%[50] Assets and Liabilities - Total assets decreased from RMB 6,634,296 thousand in 2023 to RMB 4,896,335 thousand in 2024, a decline of approximately 26.2%[49] - Current assets dropped significantly from RMB 3,242,385 thousand in 2023 to RMB 1,749,156 thousand in 2024, representing a decrease of about 46.0%[49] - Inventory decreased from RMB 877,757 thousand in 2023 to RMB 527,267 thousand in 2024, a reduction of approximately 40.0%[49] - Trade receivables fell from RMB 1,526,525 thousand in 2023 to RMB 847,476 thousand in 2024, a decline of around 44.5%[49] - Non-current assets totalled RMB 3,147,179 thousand in 2024, down from RMB 3,391,911 thousand in 2023, a decrease of about 7.2%[49] - Trade payables decreased to RMB 125,018 thousand in 2024 from RMB 263,071 thousand in 2023, showing improved cash flow management[75] - The company’s bank loans due within one year decreased to RMB 645,840 thousand in 2024 from RMB 733,596 thousand in 2023, indicating a reduction in short-term debt obligations[76] Employee and Operational Metrics - As of December 31, 2024, the group had a total of 2,186 employees, down from 3,028 employees as of December 31, 2023, with total employee costs of approximately RMB 170.65 million[28] - The average number of ordinary shares outstanding increased to 3,682,908,000 in 2024 from 3,069,090,000 in 2023, indicating potential dilution of earnings per share[69] Strategic Outlook - The company plans to continue expanding its export business and seek new customers to enhance product diversification[10] - The company is optimistic about future market opportunities despite the ongoing challenges in the global economy and trade environment[9] Impairment and Financial Adjustments - As of December 31, 2024, the company's trade receivables (net of impairment) amounted to approximately RMB 847.48 million, with an impairment reversal of about RMB 0.6 million during the reporting period[21] - The company recognized a net impairment loss on trade receivables of RMB (59,126) thousand in 2024, slightly improved from RMB (59,788) thousand in 2023[73] - The group has no significant capital commitments or contingent liabilities as of December 31, 2024[23] - The group did not engage in any major acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[25] - The group has no significant investments or capital asset acquisition plans other than those disclosed in the "Use of Proceeds" section[27] - The company issued new shares worth RMB 72,734 thousand in 2024, compared to no new shares issued in 2023[54] - The company’s interest expenses on bank and other borrowings decreased to RMB 18,673 thousand in 2024 from RMB 22,836 thousand in 2023, indicating lower financing costs[64]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 吳潤陸先生（主席） 曾明蘭女士 獨立非執行董事 劉炯先生 董事名單 及其角色與職能 匯森股份集團有限公司 董 事 會（「董事會」）成 員 載 列 於下文。 執行董事 附註： 香港，2025 年 3 月 18 日 馮昭威先生 董 事 會 已 設 立 五 個 委 員 會。下 表 提 供 各 董 事 會 成 員 於 該 等 委員會所擔任 的職務 的 資料： M－相關董事委員會成員 | | 審核 | 薪酬 | 提名 | 企業管治 | 風險控制 | | --- | --- | --- | --- | --- | --- | | | 委員會 | 委員會 | p 委員會 | 委員會 | 委員會 | | 吳潤陸先生 | - | - | M | - | C | | 曾明蘭女士 | - | M | - | M | M | | 劉炯先生 | M | - | - | M | M | | 馮昭威先生 | M | M | C | - ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部 分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 獨立非執行董事辭任 及 暫未能符合上市規則 獨立非執行董事辭任 暫未能符合上市規則 董事會注意到，於上述董事辭任後，董事會的組成包括兩名執行董事及兩名獨立非執 行董事。因此，獨立非執行董事人數及董事會轄下審核委員會、薪酬委員會及 提名委 員會的成員人數低於香港聯合交易所有限公司證券上市規則（「上市規則」） 第 3.10 條、 第 3.21 條、第 3.25 條及第 3.27A 條所規定的最低人數。 董事會現正物色合適人選以填補空缺，並 將確保：(i)委任多一名獨立非執行董事；(ii) 盡快於本公告日期後三個月內對董事委員會的組成作出適當變動，以確保符合上述上 市規則的規定。本公司將於適當 時候作出進一步公告。 承董事會命 匯森股份集團有限公司 主席 吳潤陸 香港，2025 年 3 月 18 日 於本公告日期，董事會包括執行董事吳潤陸先生及曾明蘭女士；及獨立非執行董事劉 炯先生及馮昭威先生。 匯森股份集團有 ...

Financial Performance - The group's revenue for the twelve months ending December 31, 2024, was approximately RMB 1.01 billion, a decrease of about 72.3% compared to approximately RMB 3.64 billion for the twelve months ending December 31, 2023[3]. - The loss for the twelve months ending December 31, 2024, was approximately RMB 1,682.5 million, a significant decrease of about 928.79% compared to a profit of approximately RMB 203.0 million for the twelve months ending December 31, 2023[3]. - The basic and diluted loss per share for the twelve months ending December 31, 2024, was RMB 0.46, compared to a basic and diluted earnings per share of RMB 0.07 for the twelve months ending December 31, 2023[3]. - The group reported a gross loss of RMB 200.22 million for the twelve months ending December 31, 2024, compared to a gross profit of RMB 483.31 million for the same period in 2023[5]. - The company reported a net loss of RMB 168.25 million, a significant increase of 928.79% compared to the same period in 2023[53]. - The company's profit before tax for the year ending December 31, 2024, was RMB (1,680,105) thousand, compared to RMB 249,345 thousand for 2023, indicating a significant decline in profitability[30]. Assets and Liabilities - The total assets as of December 31, 2024, were RMB 4.90 billion, down from RMB 6.63 billion as of December 31, 2023[6]. - The net current assets as of December 31, 2024, were RMB 576.15 million, a decrease from RMB 1.97 billion as of December 31, 2023[6]. - The total liabilities as of December 31, 2024, were RMB 1.17 billion, compared to RMB 1.27 billion as of December 31, 2023[6]. - The company's equity attributable to owners as of December 31, 2024, was RMB 3.62 billion, down from RMB 5.25 billion as of December 31, 2023[7]. - The company's total inventory as of December 31, 2024, was RMB 527,267 thousand, a decrease from RMB 877,757 thousand in 2023[39]. - Trade receivables as of December 31, 2024, amounted to RMB 906,602 thousand, down from RMB 1,586,313 thousand in 2023, indicating improved collection or reduced sales[40]. - The company's trade payables decreased to RMB 155,018 thousand as of December 31, 2024, from RMB 434,071 thousand in 2023, suggesting improved cash flow management[44]. Revenue Breakdown - Revenue from external customers for the year ended December 31, 2024, was RMB 1,008,525 thousand, a decrease of 72.3% compared to RMB 3,640,712 thousand for the year ended December 31, 2023[17]. - The revenue breakdown by product for the year ended December 31, 2024, included RMB 717,399 thousand from panel furniture, RMB 231,486 thousand from soft furniture, and RMB 10,354 thousand from sports and custom furniture[21]. - Revenue from the United States for the year ended December 31, 2024, was RMB 460,776 thousand, a decrease of 80.1% from RMB 2,290,770 thousand in 2023[17]. - Sales to the United States accounted for 45.7% of total revenue in 2024, down from 62.9% in 2023, representing a decline of 17% in market share[59]. - Revenue from the top five customers totaled RMB 640.4 million, which is 63.5% of total sales, a decrease of approximately 8.1% from the previous year[61]. Expenses and Costs - The distribution and selling expenses increased to RMB 286.21 million for the twelve months ending December 31, 2024, compared to RMB 73.66 million for the same period in 2023[5]. - Research and development costs for the year ended December 31, 2024, were RMB 68,253 thousand, a decrease of 55.3% compared to RMB 152,602 thousand in 2023[24]. - The cost of materials consumed decreased by 64.9% to RMB 921.3 million in 2024 from RMB 2,626.5 million in 2023, primarily due to reduced furniture sales[65]. - The total sales cost decreased by 61.7% to RMB 1,208.7 million in 2024 from RMB 3,157.4 million in 2023, attributed to lower sales volume and reduced material costs[65]. Cash Flow and Liquidity - The group reported a net cash outflow from operating activities of RMB 327.4 million for the year ended December 31, 2024, compared to an outflow of RMB 93.7 million in 2023, indicating a worsening cash flow situation[67]. - As of December 31, 2024, the group had cash and bank balances of approximately RMB 5.59 million, indicating a tight liquidity position[67]. - The company’s cash and bank balances significantly decreased to RMB 45,468 thousand as of June 30, 2024, from RMB 463,355 thousand as of December 31, 2023[104]. Corporate Governance and Future Plans - The company is committed to maintaining high standards of corporate governance and has adopted the corporate governance code as per listing rules[94]. - The company plans to continue expanding markets outside the U.S. and strengthen its ODM capabilities to enhance market share and long-term business development[81]. - The group plans to enhance its core competitiveness by closely monitoring market conditions and taking necessary measures to improve operational performance[50].

本公告由匯森股份集團有限公司（「本公司」）依據香港聯合交易所有限公司證券上市規則 （「上市規則」）第 13.19 條及 13.09 條及證券及期貨條例（香港法例第 571 章）第 XIVA 部項下的內幕消息（定義見上市規則）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全 部或任何部份內容而產生 或因依賴該等內容而引致的任何損失承擔任何責任。 跟據上市規則第 13.19 條作出披露 和 內幕消息 贛州富家利商貿有限公司提出仲裁 2023 年 7 月 10 日，匯森傢俱（龍南）有限公司作為借款人（「匯森傢俱」）與贛州富佳 麗貿易有限公司作為貸款人（「贛州富佳麗」）訂立貸款協議（經日期為 2024 年 1 月 3 日 的延期補充協議），據此，匯森家俱同意人民幣 5 億元的貸款將於 2024 年 6 月 9 日償還。據 此，Pure Cypress Limited 及曾明先生（統稱「擔保人」）為匯森家俱的還款提供擔保。部 份貸款人民幣 1.54 億元已于 2024 年 6 月 10 日前償還。 2024 年 6 月 10 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準 確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全 部或任何部份內容而產生 或因依賴該等內容而引致的任何損失承擔任何責任。 董事會會議召開日期 匯森家居國際集團有限公司（「本公司」及其附屬公司，統稱「本集團」）董事會（「董事 會」） 兹通告謹定於 2025 年 2 月 28 日（星期五）舉行董事會會議，以考慮及通過（包括其 他事項）， 本集團截至二零二四年十二月三十一日止的十二個月第二次中期業績。 承董事會命 匯森股份集團有限公司 主 席 吳潤陸 香港，2025 年 2 月 5 日 於本公告日期，董事會包括執行董事吳潤陸先生及曾明蘭女士；及獨立非執行董事顏麗 瓊女士、劉炯先生及馮昭威先生。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 就 因 本 公 告 全 部 或 任 何部份內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Huisen Shares Group Limited 匯森股份集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2127） 更改財政年度結算日 本 公 告 由 匯 森 股 份 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司 統 稱「本集團」）根 據 香港聯合交易所有限公司證券上市規則第13.51(4)條作出。 更改財政年度結算日 本 公 司 董 事（「董 事」）會（「董事會」）決 議 將 本 公 司 的 財 政 年 度 結 算 日 由12月31日 更 改為6月30日，即時生效。因此，本公司下一個財政年度結算日將為2025年6月30日， 而本集團下一份將刊發之經審核財務報表將涵蓋自2024年1月1日起至2025年6月 30日止十八個月期間。 作出更改之理由 董事會認為，將財政年度結算日更改為6月30日可令本集團更合理及 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 對 因 本 公 告 全 部 或 任 何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Huisen Shares Group Limited 匯森股份集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2127） 核數師辭任 本 公 告 由 匯 森 股 份 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司，統 稱 為「本集團」）根 據香港聯合交易所有限公司（「聯交所」）證券上市規則（「上市規則」）第13.51(4)條作出。 本公司董事會謹此宣佈，中匯安達會計師事務所有限公司已提呈辭任本公司核數師， 自2024年11月29日起生效。 下文概述中匯安達會計師事務所有限公司於其日期為2024年11月29日的辭任函（「辭 任 函」）中 所 述 導 致 其 辭 任 的 因 素： 中 匯 安 達 會 計 師 事 務 所 有 限 公 司 已 確 認，截 至 辭 任 函 日 期，除 辭 任 函 中 所 披 露 的 情 況 ...

Huisen Shares Group Limited 匯森股份集團有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） （股份代號：2127） 龍南發展公司提起民事調解 本 公 司 亦 注 意 到，龍 南 經 濟 技 術 開 發 區 建 設 投 資 有 限 公 司（「龍南發展公司」）（作 為 原告）針對若干被告提起總金額為人民幣119百萬元的民事調解，被告包括但不限於(1) 曾 明 先 生；(2)曾明蘭 女 士；及(3)本集團若干附屬公司，包括匯森傢俱、匯森明達及 匯 森 智 能 家 居。由 於 曾 明 先 生 及 匯 森 傢 俱 未 能 結 清 索 賠 款 項，曾 明 蘭 女 士 須 承 擔 作為擔保人的還款義務。調解結果為最終結果且不得進行任何進一步上訴。 於本公告日期，江西省龍南市人民法院並無作出強制執行令。 針對本集團若干附屬公司之民事調解及執 ...