(本文来自第一财经) 我乐家居公告，公司2025年第三季度营业收入为3.86亿元，同比增长2.84%；净利润为4537.01万元，同 比增长29.20%。前三季度营业收入为10.55亿元，同比增长2.18%；净利润为1.38亿元，同比增长 70.92%。 ...

Market Overview - The home goods sector increased by 0.07% on October 14, with Hao Tai Tai leading the gains [1] - The Shanghai Composite Index closed at 3865.23, down 0.62%, while the Shenzhen Component Index closed at 12895.11, down 2.54% [1] Top Performers - Hao Tai Tai (603848) closed at 22.13, up 9.99% with a trading volume of 104,800 shares and a turnover of 227 million yuan [1] - Sea Owl (002084) closed at 4.52, up 9.98% with a trading volume of 573,900 shares and a turnover of 252 million yuan [1] - Yu Ma Technology (300993) closed at 19.35, up 5.39% with a trading volume of 264,400 shares and a turnover of 506 million yuan [1] Underperformers - Jiangshan Oupai (603208) closed at 15.26, down 5.63% with a trading volume of 177,200 shares and a turnover of 283 million yuan [2] - Filinger (603226) closed at 45.08, down 4.09% with a trading volume of 161,500 shares and a turnover of 758 million yuan [2] - Qi Sheng Technology (603610) closed at 18.52, down 3.94% with a trading volume of 228,500 shares and a turnover of 433 million yuan [2] Capital Flow - The home goods sector experienced a net outflow of 26.59 million yuan from institutional investors and 53.19 million yuan from speculative funds, while retail investors saw a net inflow of 79.79 million yuan [2] - The capital flow for individual stocks in the home goods sector is detailed in the following table [3] Individual Stock Capital Flow - Sea Owl (002084) had a net inflow of 93.29 million yuan from institutional investors, but a net outflow of 36.74 million yuan from speculative funds and 56.54 million yuan from retail investors [3] - Hao Tai Tai (603848) saw a net inflow of 36.04 million yuan from institutional investors, with net outflows from both speculative and retail investors [3] - Yu Ma Technology (300993) had a net inflow of 29.99 million yuan from institutional investors, but a net outflow from retail investors [3]

Core Insights - A-share listed companies are accelerating the disclosure of their Q3 performance forecasts, with 75 companies having reported as of October 13, showing a high positive forecast ratio of 84% [1][2] Company Performance Highlights - Chujiang New Materials expects a significant increase in net profit attributable to shareholders, projecting a growth of 2057.62% to 2242.56%, amounting to approximately 350 million to 380 million yuan [3] - The company attributes its growth to product upgrades and the orderly production of technology transformation projects, which have effectively driven sales and revenue growth [3] - Chenguang Biological Products anticipates a net profit increase of 344.05% to 401.55%, with a projected profit of 278 million to 314 million yuan, benefiting from improved market conditions in its main product lines [3] - Lingyi Zhizao forecasts a net profit of 1.89 billion to 2.12 billion yuan, reflecting a year-on-year growth of 34.10% to 50.42%, driven by new product launches and increased production efficiency [4] Financial Performance Overview - In Q3, Yingwei achieved approximately 4.026 billion yuan in revenue, a 40.19% increase, and a net profit of about 399 million yuan, up 13.13% [6] - Zhongchong Co. reported a revenue of 3.86 billion yuan, a 21.05% increase, with a net profit of approximately 333 million yuan, reflecting an 18.21% growth [6] - Yabo Xuan's Q3 results showed a revenue of about 419 million yuan, a 55.9% increase, and a net profit of approximately 48.72 million yuan, up 36.59% [6] Market Trends and Future Outlook - The technology sector is experiencing a broad market rally, with significant gains in stocks related to computing power, algorithms, and artificial intelligence, leading to a notable increase in profitability for many tech companies [4] - Upcoming disclosures from companies like Qifeng New Materials and Juzan Optoelectronics are anticipated, with analysts suggesting a focus on low-position sectors such as Hong Kong tech and domestic consumption leaders for future investment strategies [7]

Core Viewpoint - I乐家居 achieved revenue and net profit growth in the first half of the year despite overall industry pressure, with revenue increasing by 1.80% and net profit rising by 103.18% compared to the previous year [1][4]. Financial Performance - In the first half of 2025, I乐家居 reported revenue of 669 million yuan and a net profit of 92.31 million yuan, with a non-recurring net profit of 75.89 million yuan, reflecting a growth of 201.73% [1][4]. - The company's sales expenses, management expenses, and R&D expenses decreased by 16.73%, 12.19%, and 43.47% respectively [1][4][5]. Strategic Initiatives - The growth in performance is attributed to three main strategies: high-end and original design focus, optimized channel layout, and refined cost control through supply chain optimization [4][5]. - I乐家居 emphasizes a shift from scale expansion to deep integration in the custom home market, focusing on differentiated competition in the mid-to-high-end market [3][4]. R&D and Cost Management - The significant reduction in R&D expenses has drawn attention, with a 43.47% decrease noted in the first half of the year [7][8]. - The company maintains that the focus is on the quality of R&D rather than quantity, ensuring that new products perform well in the market [8][9]. Market Positioning - I乐家居 is committed to high-end positioning and original design, gradually shifting product structure towards a combination of board and solid wood [9][10]. - The company is launching a "thousand-square-meter store plan" to enhance competitiveness and support dealers in core cities [10].

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]