Core Points - The company has completed the registration of changes in its business scope as approved in the second extraordinary general meeting of shareholders held on September 12, 2025 [1] - The changes only involve the business scope, with no alterations to other registration information [1] Business Registration Details - The company is named Nanjing Wo Le Home Co., Ltd. with a unified social credit code of 91320100787141439Y [1] - It is a joint venture listed company with a registered capital of 319.17693 million RMB [1] - The company was established on June 19, 2006, and is located in Jiangning Economic and Technological Development Zone, Nanjing [1] Business Scope - The company’s business scope includes residential interior decoration, furniture manufacturing, home goods manufacturing, and various sales activities related to furniture and home appliances [1] - It also covers a wide range of services including project planning, marketing consulting, software development, and property management [1] - The company is involved in the sale of smart home devices, IoT equipment, and various consumer electronics [1]

证券日报网讯 9月29日晚间，我乐家居发布公告称，公司于2025年9月12日召开2025年第二次临时股东 会，审议通过了《关于修改公司经营范围的议案》《关于修订〈公司章程〉的议案》，并授权董事会办 理与之相关的工商变更及备案手续。公司于近日完成上述事项的工商变更登记手续，并取得南京市市场 监督管理局换发的《营业执照》。 （编辑 任世碧） ...

Market Overview - On September 29, the home goods sector rose by 0.57% compared to the previous trading day, with Qisheng Technology leading the gains [1] - The Shanghai Composite Index closed at 3862.53, up 0.9%, while the Shenzhen Component Index closed at 13479.43, up 2.05% [1] Top Gainers in Home Goods Sector - Qisheng Technology (603610) closed at 18.59, up 10.00% with a trading volume of 210,800 shares and a transaction value of 382 million [1] - Delixi Co., Ltd. (002571) closed at 7.84, up 6.23% with a trading volume of 167,300 shares [1] - Filinger (603226) closed at 37.65, up 5.17% with a trading volume of 90,800 shares and a transaction value of 334 million [1] Top Losers in Home Goods Sector - Haotaitai (603848) closed at 19.33, down 6.39% with a trading volume of 121,200 shares and a transaction value of 237 million [2] - Tianzhen Co., Ltd. (301356) closed at 24.66, down 5.48% with a trading volume of 84,500 shares [2] - Mengtian Home (603216) closed at 18.39, down 2.85% with a trading volume of 160,900 shares and a transaction value of 288 million [2] Capital Flow Analysis - The home goods sector experienced a net outflow of 199 million from institutional investors, while retail investors saw a net inflow of 232 million [2] - Qisheng Technology had a net inflow of 66.73 million from institutional investors, but a net outflow of 39.91 million from speculative funds [3] - Sofia (002572) had a net inflow of 13.29 million from institutional investors, with a net outflow of 6.09 million from speculative funds [3]

证券代码：603326 证券简称：我乐家居 公告编号：2025-046 南京我乐家居股份有限公司 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。 南京我乐家居股份有限公司（以下简称"公司"）于 2025 年 9 月 12 日召开 2025 年第二次临时股东会，审议通过了《关于修改公司经营范围的议案》《关 于修订〈公司章程〉的议案》，并授权董事会办理与之相关的工商变更及备案手 续。 公司于近日完成上述事项的工商变更登记手续, 并取得南京市市场监督管 理局换发的《营业执照》，本次变更仅涉及经营范围，其他登记信息未变，具体 登记信息公告如下： 名 称：南京我乐家居股份有限公司 法定代表人：NINA YANTI MIAO 注册资本：31,917.6930 万元人民币 成立日期：2006 年 06 月 19 日 住 所：南京市江宁经济技术开发区清水亭西路 218 号 经营范围：许可项目：住宅室内装饰装修（依法须经批准的项目，经相关部 门批准后方可开展经营活动，具体经营项目以审批结果为准） 一般项目：家具 ...

Core Insights - The home furnishing industry is experiencing a contraction, with soft furniture seeking growth through international markets, while custom furniture struggles in a price war. Only Iole Home has achieved revenue and profit growth in the first half of the year, indicating a shift towards high-end design and emotional consumption [2][8]. Group 1: Market Trends - The rise of pet-customized home products is becoming a significant trend, with companies integrating pet spaces into home designs, reflecting a shift from functionality to emotional value [2][5]. - The pet economy is expanding, with the urban pet population in China expected to exceed 120 million by 2024, and the market size projected to reach 404.2 billion yuan by 2027, growing at a compound annual growth rate of approximately 9.9% [5]. Group 2: Company Strategies - Iole Home has strategically exited low-price competition and focused on high-end offerings, which CEO Wang Chunjun considers one of the company's best strategic decisions [2][8]. - The company has launched several high-end series, including the Stockholm Pro series, designed specifically for pet owners, emphasizing the integration of pet needs into home design [5][8]. - Iole Home reported a revenue of 669 million yuan in the first half of the year, a 1.8% increase year-on-year, and a net profit of 92.31 million yuan, reflecting a 103.18% increase, attributed to its competitive edge in mid-to-high-end brand differentiation [8][10].

Group 1 - The core point of the news is the performance of Iole Home, which saw a stock price increase of 5.47% to 8.68 CNY per share, with a total market capitalization of 2.77 billion CNY [1] - Iole Home, established on June 19, 2006, and listed on June 16, 2017, specializes in the design, research and development, production, sales, and related services of custom furniture and overall kitchen cabinets, with revenue composition of 82.18% from custom furniture and 17.82% from kitchen cabinets [1] Group 2 - From the perspective of major circulating shareholders, the fund under China Europe Fund, specifically the China Europe Value Select Mixed A (166019), reduced its holdings by 1.3872 million shares in the second quarter, now holding 1.3607 million shares, which accounts for 0.43% of circulating shares [2] - The China Europe Value Select Mixed A fund, established on May 14, 2013, has a latest scale of 3.428 billion CNY, with a year-to-date return of 35.88% and a one-year return of 61.53% [2]

Core Viewpoint - The company held a half-year performance briefing on September 25, 2025, to discuss its growth strategies and competitive advantages in the custom home furnishing market during an industry adjustment period [1]. Group 1: Performance and Growth Strategies - The company aims to maintain its growth momentum by enhancing product premiumization through original design and craftsmanship innovation, optimizing channel layout, and implementing refined cost management to ensure stable profitability [2]. - Key initiatives include expanding high-value product sales, building flagship stores in core cities, and improving operational efficiency through centralized procurement and lean production [2]. Group 2: Market Competition and Advantages - The custom home furnishing market is transitioning from scale expansion to deep integration, leading to increased market differentiation, with top brands consolidating their market share [3]. - The company focuses on the mid-to-high-end market with three main competitive advantages: strengthening original design capabilities, proactive channel strategies in core cities, and lean management practices to ensure profitability [3]. Group 3: Flagship Store Strategy - The flagship store initiative involves significant upfront investment but is designed to enhance consumer experience and improve terminal competitiveness [3]. - The company supports dealers in opening flagship stores by providing policies to reduce costs and enhancing their operational capabilities to increase profitability [3].

证券代码：603326 证券简称：我乐家居 公告编号：2025-045 南京我乐家居股份有限公司 关于 2025 年半年度业绩说明会召开情况的公告 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。 南京我乐家居股份有限公司（以下简称"公司"）于 2025 年 9 月 25 日 14:00-15:00 在上海证券交易所上证路演中心通过网络互动形式召开 2025 年半 年度业绩说明会，现将召开情况公告如下： 问题 1：公司上半年在行业调整期保持了增长韧性，请问管理层将通过哪些 举措延续这一增长势头？ 回复：为延续上半年的发展态势，公司下半年将重点推进以下几方面工作： 一是持续提升产品高端化水平，通过加强原创设计与工艺创新，提高高附加值产 品的销售占比；二是进一步优化渠道布局，在拓展重点城市及存量房市场的同时， 继续推进核心城市旗舰店建设，增强终端覆盖能力；三是深化成本精细化管理， 通过集约采购和精益生产提升运营效率，保障整体盈利能力的稳定。 问题 2：请问公司如何看待当前全屋定制市场的竞争格局？公司有哪些竞争 优势？ 回复：全屋定制 ...

Group 1 - The core theme of the event was "20 Years of High-End Evolution," celebrating the 20th anniversary of the brand ILO Home (603326) [1] - ILO Home showcased a series of new products that reflect 20 years of exploration in high-end original design, including the Floral Series, Stockholm Pro Series, and Velvet Flower Series, each targeting different high-end customer needs [1] - The brand emphasized its commitment to original design by introducing collaborations such as the Non-Heritage Gold Foil Handle Series and the Wall Protection Series with avant-garde artists, merging tradition with modernity and technology [1] Group 2 - The brand philosophy of ILO Home focuses on continuous evolution and transformation, interpreting high-end customization as a deep understanding of human needs rather than mere luxury accumulation [2] - The company aims to decode the cultural belonging of elite groups, the spatial efficiency demands of contemporary families, and the expectations for sustainable aesthetics in future living [2] - This design philosophy, which responds to human nature and embraces change, is seen as a key factor in the company's ability to lead in industry transformation [2]

Core Viewpoint - The 20th anniversary event of Iole Home showcased its evolution from a kitchen cabinet manufacturer to a high-end custom home brand, emphasizing its unique position in the market and commitment to original design [3][4][19]. Group 1: Brand Evolution - Iole Home has transformed from an initial player in the kitchen cabinet sector in 2005 to a leader in the high-end custom home market, marking a significant shift in its business model [3][4]. - The brand's journey reflects a broader narrative of evolution, paralleling the transformation of the Anaya area from desolation to a cultural hub [4][6]. - Iole Home has achieved the highest gross margin among nine listed custom home brands, positioning itself as the only light high-end brand in this category [6]. Group 2: Strategic Developments - The company plans to open multiple flagship stores in major cities starting in 2024, enhancing the customer experience with larger and more luxurious store formats [6]. - Iole Home is set to launch five high-end product lines in 2025, focusing on high-end design and quality while making them accessible to a broader audience [6]. Group 3: Product Offerings - The anniversary event introduced three new high-end series: the "Blossom" series, the "Stockholm Pro" series, and the "Velvet Flower" series, each catering to different high-end customer needs [7][13]. - Collaborations with traditional artisans and contemporary artists have resulted in unique product lines that blend tradition with modernity, showcasing the brand's commitment to original design [13][16]. Group 4: Brand Philosophy - Iole Home's philosophy centers on decoding the desires of elite consumers and contemporary families, focusing on cultural belonging, spatial efficiency, and sustainable aesthetics [17]. - The CEO highlighted three strategic choices that have defined the brand's success: exiting low-price competition, prioritizing original design, and entering the full-home customization market early [17][19].