| 证券代码：603801 | 证券简称：志邦家居 | 公告编号:2025-080 | | --- | --- | --- | | 债券代码：113693 | 债券简称：志邦转债 | | 志邦家居股份有限公司 关于完成工商变更并换发营业执照的公告 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。 志邦家居股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日召开第五 届董事会第九次会议，2025 年 9 月 17 日召开 2025 年第二次临时股东会，审议 通过了《关于变更注册资本、经营期限及修订<公司章程>并办理工商变更登记的 议案》，同意根据 2025 年 7 月 15 日披露的《关于部分股权激励限制性股票回购 注销实施公告》（公告编号：2025-058），将公司总股本由 436,505,713 股减少至 434,349,842 股，注册资本由 436,505,713 元变更为 434,349,842 元，并对《公 司章程》进行修订。 具体情况详见公司于 2025 年 8 月 28 日披露的《关于变更注册资 ...

Investment Rating - The report maintains an "Overweight" rating for the industry [4] Core Views - The report emphasizes the importance of valuation switching logic in the new consumption sector, highlighting stable operational performance in the sports brand sector for Q3 [6][4] - It suggests a focus on high-growth tracks in new consumption and the valuation switching logic within the sector, particularly in the collectible toy segment [6][4] - The report identifies several companies with strong growth potential and suggests monitoring their performance closely [6][4] Summary by Sections Industry Overview - The industry consists of 175 listed companies with a total market value of 10,672.79 billion and a circulating market value of 8,623.31 billion [2] Market Performance - The Shanghai Composite Index decreased by 1.47%, while the Shenzhen Component Index fell by 4.99% during the week of October 13-17, 2025 [6][11] - The light industry manufacturing index dropped by 2.22%, ranking 13th among 28 Shenwan industries, while the textile and apparel index decreased by 0.31%, ranking 5th [6][11] Key Company Insights - Companies such as Bubble Mart are expected to release Q3 operational data, with new product launches anticipated to drive performance in Q4 [6] - 361 Degrees reported a stable performance with a 10% increase in offline and children's clothing sales, and a 20% increase in e-commerce sales [6] - Anta Sports, Li Ning, and other functional apparel brands are highlighted for their growth potential [6] Investment Opportunities - The report suggests focusing on the acceleration of the Chinese consumption supply chain going overseas, particularly in non-woven fabric manufacturing [6][7] - Companies like Yanjiang Co. are recommended for their advanced production techniques and global supply chain capabilities [7] - The pet supplies sector is also highlighted, with companies like Yuanfei Pet expected to benefit from growth in both OEM and OBM businesses [6][7] Sector Recommendations - The report recommends monitoring companies in the home furnishing sector, such as Xilinmen and Gujia Home, for potential recovery in performance and valuation [6] - In the paper industry, Sun Paper is recommended due to its integrated advantages and expected improvement in profitability [6][7] - The textile manufacturing sector suggests a focus on companies like Jingyuan International for their market share growth potential [6][7]

Market Overview - On October 17, the home goods sector declined by 1.52%, with Yuma Technology leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Stock Performance - Notable gainers included: - Mengbaihe (603313) with a closing price of 9.33, up 10.02% on a trading volume of 269,100 shares and a turnover of 246 million yuan [1] - Longzhu Technology (920445) closed at 11.97, up 9.02% with a trading volume of 84,800 shares and a turnover of 104 million yuan [1] - Significant losers included: - Yuma Technology (300993) closed at 18.24, down 6.46% with a trading volume of 178,300 shares and a turnover of 332 million yuan [2] - Qisheng Technology (603610) closed at 16.84, down 6.18% with a trading volume of 128,300 shares [2] Capital Flow - The home goods sector experienced a net outflow of 248 million yuan from institutional investors, while retail investors saw a net inflow of 255 million yuan [2] - The capital flow for key stocks showed: - Mengbaihe had a net inflow of 84.29 million yuan from institutional investors, but a net outflow of 43.88 million yuan from retail investors [3] - Delu Future (002631) had a net inflow of 29.35 million yuan from institutional investors, with a net outflow of 26.12 million yuan from retail investors [3]

| 证券代码：603801 | 证券简称：志邦家居 | 公告编号：2025-079 | | --- | --- | --- | | 债券代码：113693 | 债券简称：志邦转债 | | 志邦家居股份有限公司 关于 2023 年股票期权激励计划 部分股票期权注销完成公告 特此公告。 志邦家居股份有限公司董事会 2025 年 10 月 16 日 1、因公司 2023 年股票期权激励计划第二个行权期公司层面业绩考核未达标， 根据公司《2023 年股票期权激励计划（草案）》（以下简称"《激励计划》"）相关 规定，同意注销激励对象涉及需注销的股票期权合计 206.745 万份。 2、公司 2023 年股票期权激励计划第一个行权期已届满，该行权期内尚有 206.745万份股票期权未行权，同意注销行权期到期未行权的股票期权206.745万份。 具体内容详见公司于 2025 年 9 月 25 日在上海证券交易所官方网站 （www.sse.com.cn）和指定信息披露媒体上发布的《关于注销部分已授予但尚未行 权的股票期权的公告》（公告编号：2025-074）。 公司已向中国证券登记结算有限责任公司上海分公司提交了注销上述股票 ...

志邦家居股份有限公司（以下简称"志邦家居"或"公司"）于 2025 年 4 月 28 日召开了第五届董事会第七次会议、第五届监事会第七次会议，审议通过 了《关于使用部分闲置募集资金进行现金管理的议案》，同意公司使用不超过人 民币 17,000 万元（含本数）的闲置募集资金进行现金管理，投资的产品品种为 安全性较高、流动性较好、风险较低的保本型理财产品。该额度自公司董事会审 议通过之日起 12 个月内有效，在上述期限内可以滚动使用。公司董事会同意授 权公司经理层在上述额度范围内行使相关投资决策权与签署相关法律文件，公司 财务部门负责具体实施，授权期限为经公司董事会审议通过之日起 12 个月内。 本次使用部分闲置募集资金进行现金管理事项在董事会审批权限范围内，无需提 交股东大会审议。监事会就本议案发表了明确同意的意见，保荐机构出具了明确 同意的专项核查意见。具体内容详见公司于 2025 年 4 月 29 日在上海证券交易所 网站（www.sse.com.cn）及指定媒体披露的《关于使用部分暂时闲置募集资金进 行现金管理的公告》（公告编号：2025-038）。 一、公司前次使用可转换公司债券闲置募集资金进行现金管理 ...

证券日报网讯志邦家居（603801）10月9日在互动平台回答投资者提问时表示，公司严格依照相关法律 法规履行信息披露义务，不存在应披露而未披露的重大事项。 ...

未转股可转债情况：截至 2025 年 9 月 30 日，尚未转股的"志邦转债"金额 为人民币 669,987,000 元，占可转债发行总量的 99.99806%。 本季度转股情况:2025 年 9 月 24 日至 2025 年 9 月 30 日期间共计有人民币 13,000 元"志邦转债"转换为公司 A 股股票，因转股形成的股份数量为 1,124 股。 一、"志邦转债"发行上市情况 | | | 志邦家居股份有限公司 可转债转股结果暨股份变动的公告 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： 累计转股情况：截至 2025 年 9 月 30 日，累计已有人民币 13,000 元"志邦 转债"转换为公司 A 股股票，累计转股股份数为 1,124 股，占可转债转股前公司 已发行股份总额的 0.00026%。 （一）经中国证券监督管理委员会《关于同意志邦家居股份有限公司向不特 定对象发行可转换公司债券注册的批复》(证监许可(2025)233 号)同意注册，并 经上海证券交易所同意，志邦家居股份有限公司(以下简称 ...

Core Viewpoint - The company held a half-year performance briefing on September 26, 2025, to provide insights into its operational status and address investor concerns amid industry challenges [1][2]. Group 1: Company Performance and Strategy - The company is facing significant industry pressure in 2025 and is undergoing major transformation and adjustment [3]. - To adapt, the company is enhancing its integrated home strategy, focusing on improving overall delivery capabilities to meet diverse consumer needs [3][4]. - The company plans to restructure its product system to better align with segmented channel demands and enhance customer acquisition strategies [3]. - The company emphasizes the importance of building a strong reputation, which can lead to over 30% of referrals and repeat customers [4]. Group 2: Overseas Business Development - The company has established a professional overseas team and formed strategic partnerships with foreign construction companies, enhancing its credibility in international markets [5]. - The overseas business has shown a significant growth potential, with a 70.69% year-on-year increase in revenue and a 3.38% improvement in gross margin [7]. Group 3: Financial Management and Cash Flow - The company is actively working to improve its operating cash flow and net profit, focusing on better management of accounts receivable and inventory [6]. - Measures include optimizing customer structure, enhancing cash flow from new business segments, and implementing cost reduction strategies [6]. Group 4: Market Trends and Future Outlook - The company anticipates that the custom home furnishing industry will increasingly cater to the needs of consumers in the existing housing market, focusing on localized renovations [8]. - The company is also expanding its market presence in Africa, currently in the market development phase [10]. Group 5: Talent Management - The company is focusing on talent development and organizational capability enhancement, aiming to build a robust talent pipeline and improve management efficiency through digitalization [10]. Group 6: Fund Utilization - The company raised a total of RMB 670 million through convertible bonds, with significant investments already made in various projects, including a smart production base and digital upgrades [9].

| 证券代码： | 603801 | 证券简称：志邦家居 | 公告编号：2025-076 | | --- | --- | --- | --- | | 债券代码：113693 | | 债券简称：志邦转债 | | 2025 年 9 月 26 日 15:00-16:30，公司通过价值在线(www.ir-online.cn)以视频 直播和网络互动方式召开了"2025 年半年度业绩说明会"。公司董事长孙志勇 先生、董事会秘书兼财务总监孙娟女士、独立董事胡亚南女士、国元证券股份有 限公司保荐代表人谢天宇先生出席了本次会议，与投资者进行互动交流，并就投 资者普遍关注的问题进行了回答。 志邦家居股份有限公司 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个别及连带责任。 志邦家居股份有限公司（以下简称"公司"）于 2025 年 8 月 28 日在《证券 日报》《证券时报》《上海证券报》和上海证券交易所网站（www.sse.com.cn） 上披露了公司《2025 年半年度报告》。为便于广大投资者更深入、全 ...

Core Viewpoint - The company has decided to cancel 4.1349 million stock options that were granted but not exercised, due to underperformance in the 2024 performance assessment and the expiration of the first exercise period of the 2023 stock option incentive plan [1][5][14]. Group 1: Stock Option Cancellation - The board of directors approved the cancellation of 4.1349 million stock options during the meeting held on September 24, 2025 [1][14]. - The cancellation is based on the company's performance assessment for 2024, which did not meet the required standards, resulting in the inability for 373 incentive recipients to exercise their options [5][7]. - The first exercise period for the 2023 stock option incentive plan was from November 27, 2024, to September 18, 2025, and the options that remained unexercised by the end of this period were also canceled [5][6]. Group 2: Approval Process - The stock option incentive plan underwent several approval processes, including reviews by the board of directors and the supervisory board, as well as public disclosure and verification of the incentive recipient list [2][3][4]. - The independent directors provided opinions on the plan's benefits to the company's sustainable development and the absence of harm to the interests of the company and its shareholders [2][3]. - The plan was approved at the second extraordinary general meeting of shareholders held on September 19, 2023, which authorized the board to manage the stock option grants [2][3]. Group 3: Impact on the Company - The cancellation of the stock options is not expected to have a significant impact on the company's financial status or operational results [6]. - The management team's diligence and the implementation of the incentive plan will not be affected by this cancellation [6][7]. Group 4: Future Arrangements - The company will handle the necessary procedures for the cancellation in accordance with the regulations of the Shanghai Stock Exchange and the China Securities Depository and Clearing Corporation [8].