中信证券股份有限公司 关于 红星美凯龙家居集团股份有限公司 详式权益变动报告书 之 2023 年年度持续督导意见 财务顾问 二零二四年四月 1 财务顾问声明 建发股份、红星控股、车建兴先生于 2023 年 1 月 17 日共同签署了附生效条 件的《股份转让协议》，约定红星控股拟将其持有的美凯龙 1,304,242,436 股 A 股 股份（占公司总股本的 29.95%）以 4.82 元/股的价格转让给建发股份。 2023 年 4 月 26 日，建发股份、联发集团、红星控股、车建兴先生共同签署 了《补充协议》，标的股份受让方由建发股份变更为建发股份、联发集团；其中， 建发股份受让 1,042,958,475 股 A 股股份，占公司总股本的 23.95%，联发集团受 让 261,283,961 股 A 股股份，占公司总股本的 6.00%。 2023 年 6 月 1 日，建发股份、联发集团、红星控股、车建兴先生共同签署 了《补充协议（二）》，就股份交割安排、交割后事项进行了补充约定。 2023 年 6 月 18 日，建发股份、联发集团、红星控股、车建兴先生共同签署 了《补充协议（三）》，就原协议条款修改进行了补充约 ...

致：香港交易及結算所有限公司 公司名稱: 紅星美凱龍家居集團股份有限公司 呈交日期: 2024年4月8日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 01528 | 說明 | H 股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 741,285,634 | RMB | | 1 RMB | | 741,285,634 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 741,285,634 | RMB | | 1 RMB | | 741,285,634 | | 2. 股份分類 | 普通股 | 股份類別 A | | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | - ...

公司报告 | 年报点评报告 请务必阅读正文之后的信息披露和免责申明 1 请务必阅读正文之后的信息披露和免责申明 2 | --- | --- | --- | --- | --- | --- | |-----------------------|------------|------------|------------|------------|------------| | 资产负债表 ( 百万元 ) | 2022 | 2023 | 2024E | 2025E | 2026E | | 货币资金 | 2,928.47 | 2,974.05 | 3,010.93 | 3,094.64 | 3,200.47 | | 应收票据及应收账款 | 1,980.42 | 1,209.50 | 1,510.65 | 1,484.81 | 1,613.09 | | 预付账款 | 366.59 | 291.33 | 276.13 | 343.70 | 285.29 | | 存货 | 302.87 | 159.51 | 407.94 | 211.89 | 417.11 | | 其他 | 4,056.78 | 4,406.76 | 6 ...

公司本次会计差错更正更符合《企业会计准则》的原则和要求,能够更准确 地反映公司的财务状况,同意本次会计差错更正和调整。 红星美凯龙家居集 红星美凯龙家居集团股份有限公司 监事会关于前期会计差错更正及追溯调整的专项意见 红星美凯龙家居集团股份有限公司(以下简称"公司")于2024年3月28 日 以现场方式召开第五届监事会第三次会议审议通过了《关于前期会计差错更正及 追溯调整的议案》,监事会就前期会计差错更正及追溯调整事项发表意见如下: ...

Share Lock-Up and Shareholder Commitments - The company reported a share lock-up period of 36 months, during which the original actual controller, Che Jianxing, cannot transfer or entrust the management of shares[3]. - After the lock-up period, Che Jianxing is allowed to transfer up to 25% of his shares annually while maintaining his actual control status[3]. - The company has committed to a minimum selling price for shares after the lock-up period, which will not be lower than the initial public offering price adjusted for any dividends or stock splits[3]. - The company plans to announce any share reductions three trading days in advance, detailing the reasons and intended quantities[3]. - The company has received approval for changes to the shareholding intentions and reduction commitments of its controlling shareholders as of February 15, 2023[5]. - The company will not repurchase shares during the lock-up period, ensuring stability in its share structure[8]. - The company has outlined a plan for potential limited share reductions after the lock-up period, subject to compliance with existing commitments[5]. - The company emphasizes the importance of maintaining governance and operational stability during any share reduction activities[8]. - The company has committed to not transferring or entrusting others to manage its shares in the public offering of Red Star Macalline for 36 months from the date of listing, which began on January 17, 2018[22]. - The company will extend the lock-up period of its remaining shares by one year if it violates the commitment regarding share reduction[22]. - The company has stated that any illegal proceeds from share reduction will be returned to Red Star Macalline[22]. Environmental and Social Responsibility - The company published its 2023 Annual Corporate Environmental and Social Responsibility Report, detailing environmental protection data and information[12]. - The company strictly adheres to the Energy Conservation Law of the People's Republic of China and has set energy efficiency targets for its mall construction projects[10]. - The company has invested zero funds in environmental protection during the reporting period[34]. - The company does not belong to the national key monitoring pollution units and has established a "green environmental management system" to integrate environmental protection into every operational stage[37]. - The company has a long-term commitment to environmental protection, implementing strict controls over each phase of project management from planning to operation[37]. - The company has maintained a compliance rate of 90% for environmental quality standards, with a detection pass rate of 95.12% for 2,580 batches of products[100]. - The company has reduced carbon emissions by 545,503 tons through various energy-saving initiatives[177]. - The company has not disclosed any other environmental information due to its non-applicability[39]. Financial Performance - The company reported a basic earnings per share of -0.51 yuan, a decrease of 492.31% compared to 0.13 yuan in 2022[53]. - The weighted average return on equity decreased to -4.37%, down 5.44 percentage points from 1.07% in the previous year[53]. - The company reported a total non-operating loss of approximately 988.33 million yuan, significantly impacting overall financial performance[62]. - The company's operating revenue for 2023 was approximately ¥11.51 billion, a decrease of 18.55% compared to ¥14.14 billion in 2022[79]. - The net profit attributable to shareholders for 2023 was approximately -¥2.22 billion, a decline of 496.78% from a profit of ¥558.59 million in 2022[79]. - The net cash flow from operating activities for 2023 was approximately ¥2.36 billion, down 39.07% from ¥3.88 billion in 2022[79]. - The total assets at the end of 2023 were approximately ¥121.06 billion, a decrease of 3.99% from ¥126.09 billion at the end of 2022[79]. - The net assets attributable to shareholders at the end of 2023 were approximately ¥49.62 billion, down 4.65% from ¥52.03 billion at the end of 2022[79]. - The net cash flow from investment activities was approximately ¥701.36 million, showing a slight increase from the previous year[156]. - The net cash flow from financing activities was approximately -¥3.17 billion, indicating a significant reduction in outflows compared to the previous year[156]. Market and Operational Strategy - The company continues to focus on category strategy and brand upgrades to drive growth in the home furnishing sector[71]. - The company plans to focus on market expansion and new product development to improve future performance[79]. - The company operates 448 home improvement stores across 215 cities in 30 provinces, with a total operating area of 21,724,717 square meters[92]. - The company has established a comprehensive service model for its franchise operations, leveraging its brand strength and management experience[107]. - The company is actively pursuing strategic collaborations in the new energy vehicle sector, enhancing its service offerings and customer experience[94]. - The company has expanded its membership service locations from 75 to 96, achieving a customer satisfaction rate of 97%[99]. - The company has a strong online and offline integration strategy, enhancing its digital presence through a partnership with Alibaba since 2019[96]. - The company has seen a 180% year-on-year increase in live streaming sessions and a 234% increase in traffic due to the "Gold Medal Salesperson Live Streaming" initiative[124]. - The company is collaborating with Alibaba to explore new retail models, implementing digital upgrades across malls and enhancing online-to-offline transaction capabilities[143]. - The company aims to create a sustainable high-quality traffic ecosystem by integrating design solutions with materials and enhancing collaboration among malls, designers, dealers, and brand factories[123]. Revenue and Cost Analysis - The company's revenue from the home commercial service industry was approximately ¥8.81 billion, a decrease of 14.0% compared to the previous year[160]. - The gross profit margin for the home commercial service industry was 64.6%, down by 0.8 percentage points year-on-year[160]. - Revenue from construction and design services was approximately ¥1.21 billion, a decrease of 1.7% year-on-year[162]. - The gross profit margin for construction and design services was -0.6%, a decrease of 15.9 percentage points compared to the previous year[162]. - Revenue from self-operated and leasing income was approximately ¥6.78 billion, down 13.8% year-on-year[162]. - The gross profit margin for self-operated and leasing income was 70.8%, a decrease of 2.1 percentage points year-on-year[162]. - Revenue from project annual brand consulting management services was approximately ¥1.94 billion, a decrease of 10.9% year-on-year[164]. - The company reported a significant decrease in revenue from home decoration-related services, down 51.2% year-on-year[162]. - The total cost of the home commercial service industry was approximately ¥3.12 billion, a decrease of 11.9% compared to the previous year[166]. - The company's operating costs amounted to ¥4,981,648,749.52, reflecting a reduction of 15.79% year-on-year[180]. Marketing and Customer Engagement - The company launched multiple marketing campaigns, including the 315FUN and 818FUN shopping festivals, to boost brand awareness and sales[71]. - The company’s content operations generated over 1.1 billion views across various platforms, with a total fan base of 5 million[72]. - The company achieved a customer net promoter score of 68.1% and an overall satisfaction rate of 95.96%[128]. - The company has developed a comprehensive consumer profile and product mapping, enabling precise matching of brands and merchants with consumer needs throughout the home decoration cycle[146]. - The company's marketing activities are supported by strong control from headquarters, ensuring effective execution across its nationwide stores[172]. Human Resources and R&D - The company has 51 R&D personnel, accounting for 0.35% of the total workforce[194]. - The company has no doctoral researchers among its R&D personnel, with 4 holding master's degrees and 37 holding bachelor's degrees[194]. - The company reduced R&D expenses by 57.63% to ¥19,631,122.59, primarily due to decreased personnel costs[180]. - Management expenses decreased by 7.69% to ¥1,301,881,550.28 due to reduced personnel costs[192]. - Financial expenses increased by 10.23% to ¥2,560,957,468.28, mainly due to a decrease in capitalized interest[192]. Business Expansion and Strategic Initiatives - The company is expanding into lower-tier markets through a light-asset model, utilizing management contracts and franchising to establish a presence in third-tier cities and below[140]. - The introduction of high-frequency consumption formats in malls enhances the overall consumer experience, catering to dining needs during home shopping[141]. - In 2023, the company launched the "Super Star Anchor" project with Tmall, focusing on professional training for influential home decor livestreamers[144]. - The company has established a national marketing network that leverages its extensive physical presence to achieve cost synergies and consistent marketing messages[171]. - The company has over 38,500 brand series in its marketplace, providing a comprehensive selection for consumers[174].

公司研究 要点 3 月 28 日，公司公布 2023 年年报：2023 年实现营业收入 115.15 亿元，同比 减少 18.55%，实现归母净利润-22.16 亿元（上年同期为 5.59 亿元，转盈为亏）， 折合成全面摊薄 EPS 为-0.51 元，实现扣非归母净利润-12.28 亿元，上年同期为 5.95 亿元。2023 年公司信用减值和资产减值损失共计 18.77 亿元，投资性房地 产公允价值变动损失为 8.42 亿元。 公司 2023 年综合毛利率下降 1.42 个百分点，期间费用率上升 8.86 个百分点 2023 年公司期间费用率为 46.60%，同比上升 8.86 个百分点，其中，销售/管理 /财务/研发费用率分别为 12.88%/11.31%/22.24%/0.17%，同比分别变化 +1.88/+1.33/+5.81/-0.16 个百分点。4Q2023 公司期间费用率为 45.79%，同比 上升 4.40 个百分点，其中，销售/管理/财务/研发费用率分别为 12.76%/8.80%/ 24.03%/0.21%，同比分别变化-1.31/ -3.09/ +8.92/-0.12 个百分点。 2023 ...

2023 環境、社會及管治報告 目錄 01 完善治理 著力行穩致遠 | 公司治理 | 14 | | --- | --- | | 可持續發展管理 | 22 | 02 品質至上 成就品牌典範 | 開創家居零售新模式 | 28 | | --- | --- | | 打造客戶星體驗 | 38 | 關於本報告 04 董事長致辭 06 2023 年關鍵績效 08 關於紅星美凱龍 09 公司概況 09 獎項榮譽 10 86 ESG 關鍵績效 90 附錄：《環境、社會及管 治報告指引》內容索引 | | 匯聚星火 | | --- | --- | | 03 | 助力員工發展 05 | | 保障員工權益 | 50 | | --- | --- | | 助力人才發展 | 52 | | 提升員工幸福感 | 56 | | 職業健康與安全 | 58 | 共建共享 共創美好生活 報告時間範圍 本報告覆蓋的周期為 2023 年 1 月 1 日至 2023 年 12 月 31 日（即報告期內），部分內容追溯以往年份。 報告範圍及邊界 | 共建品質供應鏈 | 82 | | --- | --- | | 協同鑄造美好 | 84 | 04 | 守護生態 | ...

独立董事 2023 年度述职情况报告 红星美凯龙家居集团股份有限公司 根据中国证监会《上市公司独立董事管理办法》《上市公司治理准则》《上海证 券交易所股票上市规则》以及《上海证券交易所上市公司自律监管指南第 2 号 -- 业务办理;第六号 -- 定期报告》的有关规定,作为红星美凯龙家居集团股份有限 公司(以下简称"公司")独立董事,现就 2023 年度工作情况作如下报告: 一、独立董事的基本情况 (一)工作履历及专业背景 本人黄志伟,1969年1月出生,中国国籍,分别于 1991年及 1998年在香港 大学及北京大学获取法律学士学位,并于 2018年于香港大学获取法律硕士学位。 2011 至 2022 年期间任职于塔博曼亚洲管理有限公司. 为副总裁兼亚洲区总法律顾 间。2006年至2011年期间出任香港鹰君集团有限公司法律主管。本人曾于多间国 际律师事务所工作,包括贝克 · 麦坚时律师事务所,美国盛德律师事务所及史密夫 菲尔律师事务所。 (二) 独立性情况说明 经过自查,我对自身的独立性情况进行以下说明: 作为公司的独立董事,除在公司担任独立董事以外,我本人及我的直系亲属、 主要社会关系均不在公司或公司附属企 ...

RSM 容诚 非经营性资金占用及其他关联资金 往来情况专项说明 红星美凯龙家居集团股份有限公司 容诚专字[2024]215Z0102号 容诚会计师事务所 (特殊普通合伙) 中国 · 北京 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://zc.mof.gov.cn）"进行 ： 容训 我们接受委托,依据中国注册会计师审计准则审计了红星美凯龙家居集团股 份有限公司(以下简称美凯龙公司)2023年12月 31 日的合并及母公司资产负债 表,2023年度的合并及母公司利润表、合并及母公司现金流量表和合并及母公司 所有者权益变动表以及财务报表附注,并于 2024 年 3 月 28 日出具了容诚审字 [2024]215Z0066 号的无保留意见审计报告。 关于红星美凯龙家居集团股份有限公司 非经营性资金占用及其他关联资金往来情况专项说明 红星美凯龙家居集团股份有限公司全体股东: 根据中国证券监督管理委员会《上市公司监管指引第 8 号 -- 上市公司资金 往来、对外担保的监管要求》的要求及上海证券交易所《上海证券交易所上市公司 自律监管指南第 2 号 -- 业务办理》的规定,美凯龙公司管理层编制了后附 ...

红星美凯龙家居集团股份有限公司 证券代码：601828 证券简称：美凯龙 编号：2024-020 红星美凯龙家居集团股份有限公司 2023 年年度经营数据公告 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。 根据上海证券交易所 《上市公司行业信息披露指引第五号——零售》以及 《关于做好主板上市公司 2023 年年度报告披露工作的通知》的要求，红星美凯 龙家居集团股份有限公司（"公司"）将 2023 年年度（"报告期"）主要经营数据 披露如下： 截至 2023 年 12 月 31 日，公司经营了 87 家自营商场，275 家委管商场，通 过战略合作经营 8 家家居商场，此外，公司以特许经营方式授权 46 家特许经营 家居建材项目，共包括 448 家家居建材店/产业街。 一、2023 年年度商场变动情况 报告期内，公司无新开自营商场，关闭 5 家商场，位于江西南昌、湖北十堰、 广东深圳、湖南衡阳，有 2 家商场由自营转为委管，位于湖北武汉、广东深圳； 委管商场新开 9 家商场，位于河北邢台、江苏泰州、江苏连云港、陕西延安、广 东珠 ...