兴业证券股份有限公司 关于金牌厨柜家居科技股份有限公司 | 一、募集资金基本情况 | | --- | | 发行名称 | 2023 | 年向不特定对象发行可转换公司债券 | | | | | --- | --- | --- | --- | --- | --- | | 募集资金总额 | | | 77,000.00 | | 万元 | | 募集资金净额 | | | 75,977.48 | | 万元 | | 募集资金到账时间 | | 2023 | 年 月 | 4 | 21 日 | 经中国证券监督管理委员会《关于核准金牌厨柜家居科技股份有限公司公开 发行可转换公司债券的批复》（证监许可[2023]39 号）核准，公司向不特定对象 发行面值总额 77,000.00 万元的可转换公司债券，每张面值 100 元，共计 770 万 张，期限 6 年。公司募集资金总额为人民币 770,000,000.00 元，扣除发行费用（不 含税）人民币 10,225,224.41 元后,实际募集资金净额为人民币 759,774,775.59 元。 华兴会计师事务所（特殊普通合伙）已对公司本次向不特定对象发行可转换公司 债券的资金到位情况进行了审 ...

| 证券代码：603180 | 证券简称：金牌家居 | | 公告编号：2026-002 | | --- | --- | --- | --- | | 债券代码：113670 | 债券简称：金 转债 | 23 | | 金牌厨柜家居科技股份有限公司 关于募投项目结项并将节余募集资金永久补流的公告 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。 重要内容提示： ● 本次结项的募投项目名称：金牌西部物联网智造基地项目（一 期项目）。 ● 结项后节余募集资金安排：截至 2026 年 1 月 26 日，金牌厨 柜家居科技股份有限公司（以下简称"公司"）向不特定对象发行可 转换公司债券募投项目节余募集资金合计 7,393.25 万元（实际金额以 资金转出当日专户余额为准），公司拟将上述节余募集资金永久补充 流动资金。 ● 决策程序：上述事项已经公司第五届董事会审计委员会 2026 年第一次会议及第五届董事会第二十七次会议审议通过，根据《上海 证券交易所上市公司自律监管指引第 1 号——规范运作》等相关规定， 该事项无需提交公司股东会审议 ...

Financial Performance Forecast - The company expects a net profit attributable to shareholders for 2025 to be between 20 million and 28 million yuan, a decrease of 85.95% to 89.96% year-on-year [4]. - The projected net profit excluding non-recurring gains and losses is expected to be between -26 million and -18.5 million yuan, representing a year-on-year decrease of 113.15% to 118.47% [4]. - The anticipated operating revenue for 2025 is between 3,474.72 million and 3,266.237 million yuan, reflecting a year-on-year decrease of 0% to 6% [4]. - In 2024, the net profit attributable to shareholders was 199.287 million yuan, and the net profit excluding non-recurring gains and losses was 140.7357 million yuan [8]. - The performance forecast data is preliminary and has not been audited, with the final financial data to be disclosed in the 2025 annual report [13]. Strategic Investments and Developments - The company is investing in a multi-channel retail network, including new retail formats and overseas factories, which is expected to impact short-term profits [12]. - The company is constructing a base in Thailand and has established satellite factories in Dallas and Malaysia, contributing to its overseas expansion strategy [12]. - The company is developing the "Feiliu AI" home design intelligent system, aiming to create a complete business loop from intelligent design to home decoration services [12]. - The issuance of convertible bonds in 2023 has incurred interest expenses of approximately 25 million yuan, affecting short-term profitability [12]. - The company maintains confidence in the long-term development of the custom home industry despite short-term performance pressures [12].

金牌厨柜家居科技股份有限公司 关于可转换公司债券转股结果暨股份变动公告 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。 重要内容提示： ● 累计转股情况：截至 2025 年 12 月 31 日，累计有 100 张"金 23 转债"转为金牌厨柜家居科技股份有限公司（以下简称"公司"、 | 证券代码：603180 | 证券简称：金牌家居 | | 公告编号：2026-001 | | --- | --- | --- | --- | | 债券代码：113670 | 债券简称：金 转债 | 23 | | "金 23 转债"初始转股价格为 39.57 元/股。由于公司实施 2022 年度、 2023 年度、2024 年前三季度以及 2024 年度权益分派，"金 23 转债" 转股价格自 2025 年 7 月 9 日起调整为 37.64 元/股。 二、可转债本次转股情况 2025 年 10 月 1 日至 2025 年 12 月 31 日期间，合计有 2000 元"金 23 转债"转为本公司 A 股股票，合计转股股数为 52 股，占"金 ...

Group 1 - The core viewpoint of the news is that Jinpai Home has shown a positive stock performance, with a 1.43% increase in share price, reaching 20.60 yuan per share, and a total market capitalization of 3.178 billion yuan as of December 31 [1] - Jinpai Home's main business includes the research, design, production, sales, installation, and after-sales service of overall kitchen cabinets, with revenue composition being 52.84% from kitchen cabinets, 37.73% from wardrobes, 8.11% from wooden doors, and 1.31% from other services [1] - The company is located in Xiamen, Fujian Province, and was established on January 26, 1999, with its listing date on May 12, 2017 [1] Group 2 - From the perspective of the top ten circulating shareholders, ICBC Credit Suisse Fund's "ICBC Strategic Transformation Stock A" holds 1.3577 million shares, unchanged from the previous period, representing 0.88% of the circulating shares [2] - The fund has generated an estimated floating profit of approximately 393,700 yuan today [2] - The fund was established on February 16, 2015, with a current scale of 1.903 billion yuan, and has achieved a year-to-date return of 4.55% [2]

Group 1 - The core focus of the 2025 speech by Wu Xiaobo is on finding actionable paths within the AI wave, emphasizing its profound impact on the physical world, industries, and young entrepreneurs [1][21] - The collaboration between Jinpai Home and Wu Xiaobo has consistently defined the development direction of China's home furnishing industry, addressing key industry challenges each year [3][23] Group 2 - In 2023, the industry faced challenges due to a downturn in real estate and increased competition, leading to a shift from "scale competition" to "value competition" [4][24] - Jinpai Home's achievements in smart manufacturing were highlighted, including the integration of digital twin technology and intelligent control systems, which significantly improved production efficiency [8][28] - The introduction of the "1㎡ gym" concept showcased innovative product development aimed at meeting consumer needs in urban environments [6][26] Group 3 - In 2024, the focus shifted to global expansion, with Jinpai Home positioning itself as a model for high-quality overseas operations, transitioning from "product export" to "industry export" [10][30] - Jinpai Home's strategy included establishing factories in Thailand and the U.S. to mitigate trade barriers and enhance local production capabilities [10][30] - The company implemented a localized strategy tailored to different markets, ensuring a better fit for local consumer needs [12][32] Group 4 - By 2025, Jinpai Home aims to leverage AI technology to address challenges in the home furnishing industry, enhancing design communication and service delivery [13][33] - The "Feiliu AI" solution was introduced to streamline the home renovation process, significantly reducing design time and improving user experience [18][38] - This AI initiative is seen as a transformative force, shifting the industry from product competition to ecosystem competition, thereby facilitating digital transformation [18][39] Group 5 - The three-year collaboration between Jinpai Home and Wu Xiaobo has effectively tracked the evolution of the home furnishing industry, focusing on smart manufacturing, global expansion, and AI innovation [19][39] - The partnership has demonstrated that industry leaders must balance deep-rooted practices with the ability to capture emerging trends for sustainable growth [19][39]

证券日报网讯12月26日，金牌家居（603180）发布公告称，公司完成工商变更登记，注册资本变更为 154257088元，取消监事会并修订公司章程，注册地址仍为厦门市同安工业集中区同安园集和路190号。 ...

Core Insights - The article highlights the technological innovation and AI integration in the custom home furnishing industry, focusing on Kingboard Home's advancements in AI home design and its transition from manufacturing to intelligent manufacturing [1][3]. Group 1: Transition to Intelligent Manufacturing - The custom home furnishing industry is experiencing a systemic leap due to the wave of artificial intelligence technology, with Kingboard Home embracing this trend by integrating AI, big data, and cloud computing into all processes from product design to user service [3]. - Kingboard Home has developed a data-driven flexible manufacturing and collaborative optimization system, achieving smart production scheduling, dynamic quality control, adaptive scheduling, and resource optimization, significantly enhancing flexible manufacturing capabilities [3]. - For instance, at the Chengdu super factory, Kingboard Home successfully addressed the challenges of large-scale flexible manufacturing through AI and digitalization, resulting in a production efficiency increase and a more than 10% improvement in per capita efficiency, along with a threefold increase in assembly efficiency [3]. Group 2: AI Home Design Innovation - The "Feiliu AI Home Design Intelligent System" represents a soft innovation aimed at enhancing user experience, allowing families to have their own AI designer that realizes their design visions [3][5]. - Feiliu AI supports multimodal interaction, enabling users to search or upload floor plans, generate aesthetically pleasing 3D renderings, and switch to 720° VR panoramic views for a virtual tour of their future home [5]. - The system allows for DIY layout adjustments, providing users with intuitive and responsive options for space layout and personalized space creation, along with automatic generation of cost estimates for hard and soft furnishings, ensuring clear and controllable renovation budgets [5]. Group 3: Future Directions - Kingboard Home plans to continue deepening the integration of "AI + industry" innovation, using technology as a driving force to enhance large-scale personalized customization capabilities and overall service experience [6]. - The company aims to evolve into a new quality production enterprise, contributing new momentum to the sustainable evolution of the home furnishing industry [6].

关于完成工商变更登记的公告 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。 金牌厨柜家居科技股份有限公司（以下简称"公司"）第五届董 事会第二十五次会议和 2025 年第二次临时股东大会审议通过了《关 于变更注册资本、取消监事会暨修订<公司章程>的议案》。具体内容 详见公司刊载于上海证券交易所网站（www.sse.com.cn）的《关于变 更注册资本、取消监事会暨修订<公司章程>的公告》（公告编号： 2025-079）。 | 证券代码：603180 | 证券简称：金牌家居 | | | 公告编号：2025-090 | | --- | --- | --- | --- | --- | | 债券代码：113670 | 债券简称：金 | 23 | 转债 | | 金牌厨柜家居科技股份有限公司 6、注册资本：壹亿伍仟肆佰贰拾伍万柒仟零捌拾捌元整 7、成立日期： 1999 年 01 月 26 日 8、营业期限：长期 9、经营范围：商事主体的经营范围、经营场所、投资人信息、 年报信息和监管信息等请至厦门市商事主体登记及信用信息公示平 台查 ...

Core Viewpoint - The custom home furnishing industry is showing a clear tiered differentiation, with leading companies like Oppein Home and Sophia dominating the market, indicating a strong competitive landscape [1][3]. Group 1: Company Market Capitalization - Oppein Home (603833) leads the industry with a market capitalization of 32.25 billion, covering a wide range of products including overall cabinets and whole-home customization [2][6]. - Sophia (002572) follows with a market capitalization of 13.3 billion, focusing on cabinet customization and implementing a multi-brand, all-channel strategy [8]. - Haolaike (603898) has a market capitalization of 4.172 billion, emphasizing eco-friendly materials and health-oriented home concepts [8]. - PIANO (002853) is positioned in the mid-to-high-end market with a capitalization of 4.116 billion, particularly strong in engineering channels and cabinets [6][11]. - Zhibang Home (603801) has a market capitalization of 4.026 billion, successfully expanding from cabinets to whole-home customization [6][11]. - Shangpin Home (300616) is valued at 3.249 billion, known for its internet+C2B model and digital service platform [9]. - Jinpai Home (603180) focuses on high-end cabinets with a market cap of 3.246 billion, recognized for its clear brand positioning and design capabilities [11]. - Wo Le Home (603326) has a market capitalization of 2.901 billion, emphasizing original design and modern style products [11]. - Dinggu Jichuang (300749) is valued at 2.316 billion, with active stock performance and a focus on customized wardrobes and smart locks [9]. Group 2: Industry Trends and Insights - The custom home furnishing industry has formed a competitive landscape characterized by "one strong and many strong," with Oppein Home's market cap significantly higher than its competitors [3][9]. - The second tier, represented by Sophia, has a market cap exceeding 10 billion, creating a gap with subsequent companies [3][9]. - Most other companies have market caps in the range of 3-4 billion, indicating intense competition with unique characteristics [3][9]. - The industry is expected to grow as the real estate market enters a stock era, with increasing consumer demand for personalization and space utilization [3][9]. - Future competition will focus on comprehensive service capabilities, supply chain efficiency, digitalization, and the implementation of whole-home solutions [3][9]. - Leading companies are likely to consolidate the market through scale, brand, and channel advantages, while smaller firms must pursue differentiation and niche markets for sustainable growth [3][9].