Core Insights - The real estate market in China is experiencing a downturn, with new residential property sales area dropping by 12.9% and sales revenue decreasing by 17.1% in 2024 compared to 2023 [1] - The custom home furnishing industry is facing challenges due to the sluggish real estate market, leading to a significant decline in revenue for major companies [2][5] Group 1: Industry Performance - In 2024, the total revenue of nine major custom home furnishing companies fell to 47.195 billion yuan, a decrease of 15.2% year-on-year [1] - The top revenue-generating company, Oppein Home, reported 18.925 billion yuan, contributing approximately 40% of the total revenue [1] - The revenue decline was most pronounced for PIANO, which saw a 32.7% drop, while Gold Medal Home experienced the smallest decline of less than 5% [1][2] Group 2: Quarterly Performance - In Q1 2024, about two-thirds of custom home furnishing companies maintained revenue growth, with companies like Sophia and Gold Medal Home achieving over 10% year-on-year growth [2] - By Q2 and Q3, the impact of the real estate downturn became evident, with four companies reporting revenue declines exceeding 20% in Q2, and this proportion increased to 77.8% in Q3 [2] - In Q4, while some companies managed to stabilize their revenue through strategic adjustments, others, particularly smaller firms, continued to see worsening performance [2] Group 3: Product Segment Performance - In 2024, Oppein Home's cabinet revenue was 5.450 billion yuan, which was 2.3 times that of the second-ranked Zhijia Home, despite a year-on-year decline of 22.5% [5][7] - Gold Medal Home was the only company to report growth in wardrobe revenue, increasing by 1.4% to 1.059 billion yuan [5][6] - The overall performance in the wood door segment was mixed, with Gold Medal Home achieving a revenue increase of 1.8%, while Oppein Home's wood door revenue fell by 17.7% [6][7] Group 4: Sales Channels - The majority of custom home furnishing companies experienced a reduction in the number of stores, with Oppein Home having 7,813 stores, nearly double that of Zhijia Home [8] - Gold Medal Home had the smallest reduction in store count, with only 23 stores closed, but its direct sales revenue plummeted by 89.6% [8][10] - The large-scale business segment saw a general contraction, with only Gold Medal Home reporting an increase in revenue [9] Group 5: International Expansion - Several companies, including Oppein Home and Zhijia Home, have made significant strides in international markets, with overseas revenue increasing by nearly 37% on average [9] - Oppein Home's global sales network now covers 146 countries and regions, while Zhijia Home has expanded to 15 countries including Australia and the USA [9]

中国经济网北京5月12日讯我乐家居（603326）(603326.SH)昨晚披露的股东减持股份计划公告显示，公 司股东南京开盛咨询管理合伙企业(有限合伙)(以下简称"开盛咨询")计划自公告日起15个交易日后的3个 月内通过集中竞价方式减持不超过1,542,528股，即不超过公司总股本的0.4778%(根据中国证监会及上海 证券交易所相关规定禁止减持的期间除外)，并保证任意连续90个自然日内通过集中竞价交易方式减持 股份总数不超过公司总股本的1%，减持价格按照市场价格确定。 | 股东名称 | 南京开盛咨询管理合伙企业(有限合伙) | | --- | --- | | 计划减持数量 | 不超过:1,542,528 股 | | 计划减持比例 | 不超过:0.4778% | | 减持方式及对应减持数量 | 集中竞价减持,不超过:1,542,528 股 | | 减持期间 | 2025年6月3日~2025年9月2日 | | 拟减持股份来源 | IP0 前取得 | | 拟减持原因 | 合伙人资金需求 | 2024年，公司实现营业收入14.32亿元，同比下降16.29%；归属于上市公司股东的净利润1.21亿元，同 比下降22. ...

Group 1 - Baichuan Energy plans to reduce its shareholding by up to 26.82 million shares, accounting for 2% of the total share capital, due to personal investment and funding needs [1] - Jinhong Gas intends to distribute a cash dividend of 1.00 yuan per 10 shares, with the record date on May 15, 2025 [2] - Jiahe Meikang's shareholder plans to reduce its stake by up to 1% of the total share capital due to liquidity needs [2][3] Group 2 - Jiadu Technology will cancel 10.20 million repurchased shares, reducing its total share capital from 2.143 billion shares to 2.133 billion shares [4] - ILE Home's shareholder plans to reduce its stake by up to 154,250 shares, accounting for 0.4778% of the total share capital, due to funding needs [5] - Lai Yifen has fully removed related batches of its honey date dumpling products from shelves due to consumer health concerns [6][7] Group 3 - CATL's vice chairman Li Ping and spouse plan to donate 4.05 million shares to Fudan University for establishing a research fund, reducing Li Ping's shareholding from 4.58% to 4.48% [8] - Shuanghuan Transmission's shareholders completed their reduction plan, selling a total of 6.69 million shares, accounting for 0.789% of the total share capital [9] - Chengfei Integration reported no significant changes in its business operations or external environment despite stock price fluctuations [10] Group 4 - Guizhou Tire's controlling shareholder plans to increase its stake by no less than 50 million yuan and no more than 100 million yuan within six months [11] - *ST Youshu's application to revoke the delisting risk warning has been approved, and its stock will resume trading under a new name [13] - Jingwei Huikai's shareholders plan to reduce their stake by up to 3% of the total share capital due to funding needs [14] Group 5 - Hualan Biological's major shareholder plans to reduce its stake by up to 3% of the total share capital due to funding needs [15] - Huyou Pharmaceutical's shareholder plans to reduce its stake by up to 2.997% of the total share capital due to funding needs [16] - Dongpeng Holdings' shareholders plan to reduce their stake by up to 1.5% of the total share capital due to funding needs [17] Group 6 - Keleke's controlling shareholder plans to reduce its stake by up to 3% of the total share capital due to funding needs [18] - Dongfang Ocean's major shareholder plans to reduce its stake by 1% of the total share capital due to investor redemption requests [19] - Yisheng Shares reported a sales revenue of 141 million yuan from white feather chicken seedlings in April, with a year-on-year decrease of 7.28% [20] Group 7 - Qujiang Cultural Tourism's controlling shareholder's 12 million shares are set to be auctioned due to contractual disputes, representing 4.70% of the total share capital [21] - Duople's shareholder plans to reduce its stake by up to 123,800 shares, accounting for 2% of the total share capital, due to personal funding needs [22][23]

证券代码：603326 证券简称：我乐家居 公告编号：2025-024 南京我乐家居股份有限公司 本公司董事会、全体董事及相关股东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。 重要内容提示： ? 股东持股的基本情况 截至本公告披露日，南京我乐家居股份有限公司（以下简称"公司"）股东 南京开盛咨询管理合伙企业（有限合伙） （以下简称"开盛咨询"）持有公司股份 ? 减持计划的主要内容 开盛咨询计划自本公告日起 15 个交易日后的 3 个月内通过集中竞价方式减 持不超过 1,542,528 股，即不超过公司总股本的 0.4778%（根据中国证监会及上 海证券交易所相关规定禁止减持的期间除外），并保证任意连续 90 个自然日内通 过集中竞价交易方式减持股份总数不超过公司总股本的 1%，减持价格按照市场 价格确定。 一、减持主体的基本情况 股东名称 南京开盛咨询管理合伙企业（有限合伙） 控股股东、实控人及一致行动人 √是 □否 直接持股 5%以上股东 □是 √否 股东身份 董事、监事和高级管理人员 □是 √否 其他：不适用 持股数量 4,886,700股 ...

证券代码：603326 证券简称：我乐家居 公告编号：2025-024 南京我乐家居股份有限公司 股东减持股份计划公告 本公司董事会、全体董事及相关股东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。 重要内容提示： | 股东名称 | 南京开盛咨询管理合伙企业（有限合伙） | | | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 直接持股 5%以上股东 | √是 □否 □是 √否 | | | 董事、监事和高级管理人员 | □是 √否 | | | 其他：不适用 | | | 持股数量 | 4,886,700股 | | | 持股比例 | 1.5137% | | | 当前持股股份来源 | IPO 前取得：4,886,700股 | | 一、减持主体的基本情况 股东持股的基本情况 截至本公告披露日，南京我乐家居股份有限公司（以下简称"公司"）股东 南京开盛咨询管理合伙企业（有限合伙）（以下简称"开盛咨询"）持有公司股份 4,886,700 股，占公司总股本的 1.5137%，上述股份来源为 IPO 前取得的股份。 上述减持主 ...

Investment Rating - The report indicates a positive outlook for the home furnishing sector, driven by domestic consumption stimulus and the gradual recovery of retail channels [1]. Core Insights - The report highlights that the domestic consumption stimulus is beginning to show effects, with a notable recovery in retail channels, while export conditions are experiencing marginal declines [1][3]. - The performance of leading companies in the home furnishing sector is improving, particularly in the context of national subsidies and strategic adjustments [1][3]. Summary by Sections 1. Home Furnishing - Domestic sales show signs of recovery with a year-on-year revenue change of -12.44% in Q4 2024 and +1.75% in Q1 2025, while net profit for the same periods changed from -54.11% to +7.07% [13]. - Export performance for the furniture sector saw a cumulative year-on-year increase of +5.8% for 2024 but a decline of -8.0% in Q1 2025, indicating a downward trend in export conditions [13]. - The report anticipates that the domestic market will continue to recover in the short term due to national subsidy policies, while the export market may face ongoing pressures [13]. 1.1 Domestic - Custom Home Furnishing - Retail channels are showing marginal improvements, while bulk channels remain under pressure, with leading companies like Oppein and Sophia experiencing reduced revenue declines in Q1 2025 compared to previous quarters [20]. - The profitability of leading companies is improving, with a focus on cost control and product development, while second and third-tier brands may struggle to maintain performance [26]. - Prepayment and cash flow indicators show improvements for some leading companies, suggesting a gradual recovery in demand [38]. 1.2 Domestic - Soft Home Furnishing - The soft home furnishing sector is under pressure due to real estate downturns and changing consumer spending patterns, but companies like Kuka and Mengbaihe are showing signs of recovery [39]. - Profit margins are improving in Q1 2025 compared to 2024, with notable changes in gross and net profit margins across leading companies [44]. - Prepayment figures for soft home furnishing companies are showing positive growth, indicating a recovery in domestic demand [46]. 1.3 Export Home Furnishing - The overall export climate is declining, with a significant drop in cumulative export value in Q1 2025, reflecting challenges in the international market [51][53]. - Despite the overall decline, leading companies are still managing to perform well, showcasing resilience and strategic advantages [51].

2024 年年度股东大会会议资料 南京我乐家居股份有限公司 2024 年年度股东大会会议资料 2025 年 5 月 16 日 2024 年年度股东大会会议资料 目 录 | 2024 年年度股东大会会议须知 | 2 | | | --- | --- | --- | | 2024 年年度股东大会会议议程 4 | | | | 议案一：关于 2024 年年度报告及摘要的议案 | | 6 | | 议案二：关于 2024 年度董事会工作报告的议案 | | 7 | | 议案三：关于 2024 年度监事会工作报告的议案 | | 14 | | 议案四：关于 2024 年度财务决算报告的议案 | | 17 | | 议案五：关于 2024 年度利润分配预案的议案 | | 21 | | 议案六：关于董事 2025 年度薪酬事项的议案 | | 24 | | 议案七：关于 2025 年度公司与子公司互相提供融资担保的议案 | | 25 | | 议案八：关于 2025 年度为公司工程代理商提供担保预计的议案 | | 26 | | 议案九：关于使用闲置自有资金进行委托理财的议案 | | 27 | | 议案十：关于续聘 2025 年度会计师事务 ...

证券代码：603326 证券简称：我乐家居 公告编号：2025-023 南京我乐家居股份有限公司 关于 2025 年第一季度主要经营数据的公告 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。 | 销售渠道 | 营业收入 | 营业成本 | 毛利率 | 营业收入比 | 营业成本比上 | 毛利率比上年增减 | | --- | --- | --- | --- | --- | --- | --- | | | | | （%） | 上年增减（%） | 年增减（%） | | | 经销店 | 25,053.39 | 14,023.20 | 44.03 | 29.46 | 38.14 | 减少 3.51 个百分点 | | 直营店 | 5,723.04 | 2,288.54 | 60.01 | 50.47 | 73.06 | 减少 5.22 个百分点 | | 大宗业务 | 430.37 | 456.34 | -6.03 | -90.41 | -88.58 | 减少 16.94 个百分点 | | 其他 | 566.74 | 408.28 | 2 ...

Financial Performance - The company's operating revenue for Q1 2025 was CNY 317,735,379.56, representing a 12.83% increase compared to CNY 281,616,824.84 in the same period last year[5]. - Net profit attributable to shareholders increased by 111.42% to CNY 40,148,206.99 from CNY 18,989,428.84 year-on-year[5]. - The net profit after deducting non-recurring gains and losses surged by 1,846.19% to CNY 39,038,336.10 from CNY 2,005,886.79 in the previous year[5]. - Basic and diluted earnings per share rose by 114.31% to CNY 0.1258 from CNY 0.0587 year-on-year[5]. - The weighted average return on equity increased to 3.31% from 1.64% in the same period last year, reflecting improved profitability[5]. - The company's total profit for Q1 2025 was ¥49,382,493.83, significantly higher than ¥21,897,542.25 in Q1 2024, marking an increase of 125.5%[24]. Asset and Equity Changes - Total assets decreased by 11.94% to CNY 2,203,000,908.25 compared to CNY 2,501,670,016.59 at the end of the previous year[5]. - Shareholders' equity attributable to the parent company declined by 1.91% to CNY 1,192,520,192.02 from CNY 1,215,722,196.03 at the end of the last fiscal year[5]. - The total current assets decreased to CNY 780,775,912.39 from CNY 1,020,005,691.05, representing a reduction of about 23.5%[18]. - The company's equity attributable to shareholders decreased to CNY 1,192,520,192.02 from CNY 1,215,722,196.03, reflecting a decline of approximately 1.9%[20]. - The company reported a decrease in total non-current assets to CNY 1,422,224,995.86 from CNY 1,481,664,325.54, reflecting a decline of approximately 4%[18]. Cash Flow and Liabilities - The net cash flow from operating activities was negative at CNY -153,241,705.10, worsening from CNY -84,971,485.35 in the previous year[5]. - Total liabilities decreased to CNY 1,010,480,716.23 from CNY 1,285,947,820.56, a reduction of about 21.4%[20]. - Cash flow from operating activities showed a net outflow of ¥153,241,705.10 in Q1 2025, worsening from a net outflow of ¥84,971,485.35 in Q1 2024[29]. - Cash flow from financing activities resulted in a net outflow of ¥83,763,606.16 in Q1 2025, contrasting with a net inflow of ¥80,125,021.08 in Q1 2024[30]. Inventory and Accounts Payable - The inventory level decreased to CNY 83,525,577.78 from CNY 100,171,729.85, a decrease of about 16.6%[18]. - The accounts payable decreased to CNY 113,041,566.62 from CNY 139,750,028.18, indicating a decline of approximately 19.3%[19]. - The contract liabilities decreased significantly to CNY 235,108,952.00 from CNY 375,359,169.98, a reduction of about 37.4%[19]. Investment and Research Expenses - The company held large certificates of deposit, generating investment income of CNY 1,960,312.48, indicating a sustainable income source[11]. - Research and development expenses decreased to ¥8,536,048.44 in Q1 2025 from ¥15,769,230.06 in Q1 2024, a reduction of 45.9%[24].

Market Overview - The Shanghai Composite Index closed at 3295.06 points, slightly below the five-day moving average, with a change of -0.07% [1] - The total trading volume of A-shares reached 1,137.01 billion yuan [1] Stocks Performance - A total of 514 A-shares have surpassed the five-day moving average today [1] - Notable stocks with significant deviation rates include: - Jiuzhou Group (300040) with a deviation rate of 14.05% and a daily increase of 19.97% [1] - Zhejiang Huayuan (301535) with a deviation rate of 9.07% and a daily increase of 17.75% [1] - Nanguo Real Estate (002305) with a deviation rate of 7.92% and a daily increase of 10.32% [1] Detailed Stock Data - The following stocks have notable performance metrics: - Jiuzhou Group: Latest price 7.81 yuan, five-day moving average 6.85 yuan, turnover rate 43.12% [1] - Zhejiang Huayuan: Latest price 20.90 yuan, five-day moving average 19.16 yuan, turnover rate 58.83% [1] - Nanguo Real Estate: Latest price 1.39 yuan, five-day moving average 1.29 yuan, turnover rate 3.51% [1] - Other stocks with significant increases include: - Pulaia (603605) with a 10% increase and a deviation rate of 7.86% [1] - Fangda Group (000055) with a 9.95% increase and a deviation rate of 7.53% [1]