梦百合家居科技股份有限公司 关于回购股份事项前十大股东和前十大无限售条件股东 证券代码：603313 证券简称：梦百合 公告编号：2025-037 持股情况的公告 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法律责任。 上述事项已经公司三分之二以上董事出席的董事会审议通过，无需提交公司 股东会审议。 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号—回购股份》等法律、法规及规范性文件的规定，现将董事会公告回购股份 决议的前一个交易日（即 2025 年 5 月 9 日）登记在册的前十大股东和前十大无 限售条件股东的名称及持股数量、比例情况公告如下： | 序号 | 股东名称 | 持股数量（股） | 持股比例（%） | | --- | --- | --- | --- | | 1 | 倪张根 | 193,831,195 | 33.97 | | 2 | 中阅资本管理股份公司－中阅聚焦 9 号 私募证券投资基金 | 52,380,000 | 9.18 | | 3 | 吴晓风 | 22,157,552 | 3.88 | | ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for future investment returns [5]. Core Views - The company plans to repurchase shares for employee stock ownership plans, signaling confidence in long-term development [1][2]. - The trend of mattress manufacturing returning to the U.S. continues due to anti-dumping tariffs and trade policies, impacting imports from various countries including China [2][3]. - The company's operational efficiency in U.S. production bases is improving, with profitability achieved in 2024, and the North American market is expected to contribute significantly to profits [3]. - Domestic consumption stimulus policies are being enhanced, and the company is diversifying its sales channels, which is likely to improve its competitiveness and brand influence in the domestic market [3]. - The report forecasts a profit turnaround, with projected net profits of 307 million, 464 million, and 573 million yuan for 2025, 2026, and 2027 respectively, alongside corresponding EPS of 0.54, 0.81, and 1.00 yuan [3][10]. Summary by Sections Share Repurchase - The company intends to repurchase shares worth 0.85 to 1.7 billion yuan at a maximum price of 10.90 yuan per share, which will account for 1.37% to 2.73% of the total share capital [1][2]. Market Trends - The U.S. has implemented multiple rounds of anti-dumping tariffs on mattresses, leading to a significant decrease in imports, with a projected decline of 12.7% and 9.6% in 2023 and 2024 respectively [2]. - The continuation of high anti-dumping tariffs on Chinese mattresses indicates a sustained trend of "de-China" and manufacturing returning to the U.S. [2]. Financial Projections - The report projects revenue growth from 7.976 billion yuan in 2023 to 12.725 billion yuan in 2027, with a compound annual growth rate of approximately 14.33% [10]. - The company is expected to achieve a gross profit margin of around 38.4% by 2027, indicating stable profitability [12]. Profitability and Valuation - The report anticipates a significant increase in net profit margins, with a forecasted return on equity (ROE) of 11.87% by 2027 [12]. - The price-to-earnings (P/E) ratio is projected to decrease from 42 in 2023 to 8 by 2027, suggesting an attractive valuation as earnings improve [13].

Core Viewpoint - The company plans to repurchase shares through a centralized bidding method, with an amount ranging from 85 million to 170 million yuan, and a maximum repurchase price of 10.90 yuan per share [3][4]. Group 1: Share Repurchase - The repurchased shares will be used for employee stock ownership plans or equity incentives, aiming to enhance the long-term incentive mechanism and boost employee motivation, thereby promoting sustainable development of the company [4]. Group 2: Industry Trends - The trend of mattress manufacturing returning to the U.S. continues, driven by anti-dumping and tariff policies. The U.S. has imposed high anti-dumping tax rates on mattresses from various countries, including China, Vietnam, Mexico, and Indonesia, with a significant decrease in mattress imports expected [5]. - The U.S. International Trade Commission (ITC) announced the continuation of the highest anti-dumping tax rate of up to 1732% on Chinese mattresses, extending the policy for at least another five years [5]. Group 3: Performance Outlook - The company's production efficiency in U.S. manufacturing bases is steadily improving, with profitability achieved in 2024. The ongoing development of online business and retail channel clients is expected to enhance profit contributions from the North American market [6]. - In the domestic market, the company is advancing store upgrades and channel diversification, integrating various brands to create a one-stop home furnishing consumption scenario, which is anticipated to enhance competitiveness and brand influence [6].

Core Viewpoint - A total of 19 listed companies announced share buybacks, increases, and related loan situations during the week of May 5 to May 11, with China Nuclear Power obtaining a loan of up to 450 million yuan for stock repurchase [1][2]. Summary by Category Share Buyback Announcements - Guizhou Tire plans to increase holdings by 50 million to 100 million yuan with a loan of no more than 90 million yuan [2] - Dream Lily intends to repurchase shares worth 85 million to 170 million yuan with a loan of up to 150 million yuan [2] - Sichuan Changhong aims to repurchase shares worth 250 million to 500 million yuan for equity incentives [2] - Changhong Huayi plans to repurchase shares worth 150 million to 300 million yuan with a loan not exceeding 270 million yuan [2] - Linglong Tire's controlling shareholder intends to increase holdings by 200 million to 300 million yuan with a loan of no more than 270 million yuan [2] - China Nuclear Power plans to repurchase shares worth 300 million to 500 million yuan with a loan of up to 450 million yuan [2] - Longfly Fiber plans to repurchase shares worth 160 million to 320 million yuan with a loan of no more than 288 million yuan [2] - Baiao Chemical intends to repurchase shares worth 200 million to 400 million yuan with a loan of up to 360 million yuan [2] - Sanhuan Group plans to repurchase shares worth 150 million to 200 million yuan with a loan of no more than 180 million yuan [2] - Zhiyuan New Energy intends to repurchase 1.5 million to 3 million shares with a loan of up to 50 million yuan [2] - Keda Guokuan plans to repurchase shares worth 20 million to 40 million yuan with a loan of up to 36 million yuan [2] - Demais plans to repurchase shares worth 50 million to 100 million yuan with a loan of up to 90 million yuan [2] - Yongji Shares intends to repurchase shares worth 50 million to 100 million yuan with a loan of up to 90 million yuan [2] - Yinlun Shares plans to repurchase shares worth 50 million to 100 million yuan with a loan of up to 90 million yuan [2] - Hualu Hengsheng intends to repurchase shares worth 200 million to 300 million yuan with a loan of no more than 270 million yuan [2] - Vanadium Titanium Shares plans to increase holdings by 50 million to 100 million yuan with a loan of up to 90 million yuan [2] - Fuchuang Precision intends to increase holdings by 120 million to 240 million yuan with a loan of no more than 200 million yuan [2]

事件：公司拟以集中竞价方式回购股份，金额0.85~1.7 亿元，回购价格不超过10.90 元/股。 制造回流美国本土及刺激内需背景下，业绩弹性释放可期：一方面，公司美国生产基地运营效率稳步提 升，美东、美西生产基地已逐步实现美国床垫市场的本土化供应，24 全年已实现盈利，伴随美国线上 业务的持续发力以及大型连锁商超等零售渠道客户的开发，北美市场的利润贡献有望凸显；另一方面， 国内消费补贴政策加码，公司持续推进店态升级与渠道多元化，通过MLILY 梦百合、NISCO里境和 VALUE 榀至品牌及品类的融合，打造一站式全屋家居消费场景，有望不断提升国内市场竞争力和品牌 影响力，我们看好公司后续业绩弹性的释放。 利润拐点已现，维持"买入"评级：我们维持2025-2027 年归母净利润预测为3.07/4.64/5.73 亿元，2025- 2027 年对应EPS 分别为0.54/0.81/1.00 元，当前股价对应2025-2027 年PE 分别为15/10/8 倍。我们认为公 司充分计提信用减值后资产质量已得以提升，看好制造业回流美国本土及刺激内需背景下，公司的利润 弹性释放，维持"买入"评级。 风险提示：内需刺激政 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a favorable outlook for investment returns over the next 6-12 months [5]. Core Views - The company plans to repurchase shares for employee stock ownership plans, signaling confidence in long-term development [1][2]. - The U.S. mattress manufacturing is experiencing a trend of returning production to domestic markets due to anti-dumping tariffs and trade policies, which is expected to continue [2][3]. - The company is expected to benefit from improved operational efficiency in its U.S. production bases and the ongoing development of its online business and retail channels, leading to enhanced profit contributions from the North American market [3]. - The report forecasts a profit turnaround, with projected net profits for 2025-2027 being 307 million, 464 million, and 573 million yuan respectively, alongside corresponding EPS of 0.54, 0.81, and 1.00 yuan [3][10]. Summary by Sections Share Repurchase - The company intends to repurchase shares worth between 0.85 to 1.7 billion yuan at a maximum price of 10.90 yuan per share, which will account for 1.37% to 2.73% of the total share capital [1][2]. Market Trends - The U.S. has implemented multiple rounds of anti-dumping tariffs on mattresses from various countries, including China, which has led to a significant decrease in mattress imports, with a year-on-year decline of 12.7% and 9.6% expected for 2023 and 2024 respectively [2]. Financial Projections - The report projects revenue growth from 7.976 billion yuan in 2023 to 12.725 billion yuan in 2027, with a compound annual growth rate of approximately 14.33% [10]. - The company’s net profit is expected to recover from a loss of 151 million yuan in 2024 to a profit of 307 million yuan in 2025, reflecting a significant turnaround [10]. Profitability Metrics - The report anticipates an improvement in profitability, with the gross margin expected to stabilize around 38.4% by 2027, and a projected return on equity (ROE) of 11.87% in the same year [12].

● 回购股份金额：不低于人民币 0.85 亿元（含），不超过人民币 1.70 亿元（含）。 ● 回购股份资金来源：梦百合家居科技股份有限公司（以下简称"公司"）自 有资金及回购专项贷款。公司已取得上海浦东发展银行股份有限公司嘉定支行（以 下简称"浦发银行嘉定支行"）出具的《贷款承诺函》，浦发银行嘉定支行承诺给 予公司不超过人民币 1.50 亿元的股票回购专项贷款，具体股票回购专项贷款提用 金额不得高于股票回购资金的 90%。该《贷款承诺函》有效期至 2026 年 5 月 7 日。 ● 回购股份用途：本次回购股份将用于员工持股计划或者股权激励。若公司 未能在股份回购实施结果暨股份变动公告日后 3 年内转让完毕已回购股份，未转 让的已回购股份将履行相关程序予以注销。 证券代码：603313 证券简称：梦百合 公告编号：2025-036 梦百合家居科技股份有限公司 关于以集中竞价交易方式回购公司股份方案的公告 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、准确性和完整性依法承担法律责任。 重要内容提示： ● 相关股东是否存在减持计划：截至公司董事会通过回购股份 ...

Core Viewpoint - The company, Dream Lily Home Technology Co., Ltd., is preparing for its 2024 annual shareholder meeting, focusing on maintaining shareholder rights and ensuring orderly proceedings. The company reported a revenue of 8.449 billion yuan for 2024, a year-on-year increase of 5.94%, but a net loss of 151 million yuan, a decrease of 242.04% compared to the previous year [4][24]. Group 1: Company Overview - Dream Lily Home Technology Co., Ltd. aims to enhance its global market competitiveness and accelerate market expansion [4]. - The company achieved a revenue of 14.36 billion yuan from its ODM business, marking a year-on-year growth of 48.72% [4]. - The company has established a strong partnership with major European clients, contributing to the growth of its ODM business [4]. Group 2: Market Performance - The European market has seen continuous double-digit growth in the company's main business revenue for two consecutive years [4]. - The North American market has stabilized, with a reduction in revenue decline by 12.20 percentage points compared to the previous year [5]. - The company's online brand EGOHOME ranked among the top 20 best-selling mattress products on Amazon [5]. Group 3: Strategic Initiatives - The company is focusing on enhancing its ODM and OBM business models, with plans to strengthen regional market development and expand its customer base [11]. - The company aims to promote its brand internationally, particularly in the U.S. market, leveraging local supply chain advantages [11]. - The company plans to optimize its offline channels and enhance brand awareness through various marketing strategies [12]. Group 4: Financial Performance - The company reported a net profit attributable to shareholders of -151 million yuan for 2024, with a significant decrease in profitability [25]. - The total assets of the company decreased by 4.40%, with current assets amounting to 442.29 million yuan [24]. - The company’s cash flow from operating activities was -395.10 million yuan, a decrease of 8.87% compared to the previous year [24]. Group 5: Governance and Compliance - The company’s supervisory board has conducted regular meetings to ensure compliance with legal and regulatory requirements [20]. - The supervisory board has confirmed that the company’s financial management and internal controls are sound and comply with relevant regulations [22][23]. - The company has adhered to proper procedures regarding related party transactions and external guarantees [22].

梦百合（603313）公告，公司拟以0.85亿元至1.7亿元资金回购股份，回购价格不超过人民币10.9元/股 (含)。本次回购股份的资金来源为公司自有资金及回购专项贷款，公司已取得浦发银行嘉定支行出具的 《贷款承诺函》，承诺给予公司不超过人民币1.5亿元的股票回购专项贷款，具体股票回购专项贷款提 用金额不得高于股票回购资金的90%。本次回购股份将全部用于实施员工持股计划或者股权激励，若未 能在法律法规规定的期限内用于上述用途，将依法予以注销。回购期限为董事会审议通过之日起不超过 12个月。 ...

梦百合家居科技股份有限公司 2024 年年度股东会会议资料 二零二五年五月 | 梦百合家居科技股份有限公司 2024 年年度股东会会议须知 2 | | --- | | 梦百合家居科技股份有限公司 2024 年年度股东会会议议程 4 | | 议案一：公司 2024 年度董事会工作报告 7 | | 议案二：公司 2024 年度监事会工作报告 14 | | 议案三：公司 2024 年度财务决算报告 18 | | 议案四：公司 2024 年度利润分配预案 20 | | 议案五：公司 2024 年年度报告及其摘要 21 | | 议案六：关于续聘 2025 年度审计机构的议案 22 | | 议案七：关于公司及子公司申请综合授信及相关授权的议案 26 | | 议案八：关于开展外汇衍生品交易的议案 29 | | 议案九：关于确认 2024 年度日常关联交易及预计 2025 年度日常关联交易的议案 31 | | 议案十：关于公司及子公司 2025 年度为控股子公司提供担保额度预计的议案 43 | | 议案十一：关于公司非独立董事和高级管理人员 2024 年度薪酬确认及 2025 年度薪酬方案的议案 53 | | 议案十二：关于 ...