投资时间网、标点财经研究员 习羽 上市公司顾家家居（603816.SH）新近发布了一份"持股5%以上股东部分股份将被司法拍卖的进展公告"。公告显示，公司股东顾家集团所持有的2932万股股份首次司法拍卖流拍，二次拍卖定于 公告称，顾家集团不属于顾家家居控股股东，其所持股份被司法拍卖不会导致上市公司控制权发生变更。相关司法拍卖尚处于公示阶段，后续涉及竞拍、缴款、股权变更过户等环节，拍卖的结果 投资时间网、标点财经研究员注意到，顾家集团曾是顾家家居控股股东，若以7月7日24.44元/股收盘价计算，这批占公司总股本3.57%的股份市值约为7.17亿元。同时，这也是顾家集团在20 顾家集团2932万股股份二次拍卖情况 在地产行业深度调整的大环境下，2024年家居行业面临严峻挑战。中国建材流通协会数据显示，全国规模以上建材家居卖场累计销售额同比下滑3.85%。 从上市家居企业经营情况来看，据不完全统计，2024年60余家上市家居企业中，虽有超六成企业营收同比增长，但实现净利润同比增长的企业却不足四成，行业盈利压力凸显。 顾家家居在2024年的经营数据同样不容乐观。财报显示，其营业收入约184.80亿元，同比下降3.81% ...

Core Viewpoint - The announcement details the judicial auction of shares held by a major shareholder, Gujia Group, which may impact the company's stock and ownership structure [1][2][3]. Group 1: Shareholder Information - Gujia Group holds 103,171,483 shares of Gujia Home Furnishing Co., Ltd., accounting for 12.55% of the total share capital, with all shares currently frozen [1]. - The number of shares to be auctioned is 29,324,717, representing 28.42% of Gujia Group's holdings and 3.57% of the total share capital of the company [1][3]. Group 2: Auction Details - The auction is scheduled to take place from July 21, 2025, at 10:00 AM to July 22, 2025, at 10:00 AM, with the possibility of extension [1][3]. - The auction has already failed in its first attempt, and the shares will be subject to a second auction [1][2]. Group 3: Legal and Regulatory Context - The auction is being conducted under the supervision of the Hangzhou Intermediate People's Court, which has issued a public auction notice [2][3]. - The company will closely monitor the auction process and fulfill its information disclosure obligations as required by relevant laws and regulations [2][4].

证券代码：603816 证券简称：顾家家居 公告编号：2025-050 一、本次司法拍卖的基本情况 顾家集团收到浙江省杭州市中级人民法院的《网络拍卖告知书》（[2024]浙 01 执 1607 号）：浙江省杭州市中级人民法院将在杭州市中级人民法院淘宝网司 法拍卖网络平台对顾家集团持有的本公司 29,324,717 股无限售流通股票的价值 进行公开拍卖，具体内容详见公司于 2025 年 6 月 3 日在上海证券交易所网站 （www.sse.com.cn）及公司指定披露媒体《中国证券报》《上海证券报》《证券日 报》《证券时报》刊登的《关于持股 5%以上股东部分股份将被司法拍卖的提示性 公告》（公告编号：2025-044）。 二、本次司法拍卖的进展情况 （一）股份一拍的进展情况 顾家家居股份有限公司 关于持股 5%以上股东部分股份将被司法拍卖 的进展公告 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。 重要内容提示: 截至本公告披露日，顾家集团有限公司（以下简称"顾家集团"）持有顾 家家居股份有限公司（以下简称"公司"或"本公司"） ...

Core Viewpoint - The article emphasizes that Kuka Home is transforming from a real estate supplier to a lifestyle leader, focusing on user value and retail transformation to drive sustainable growth [1][7]. Group 1: Historical Context and Market Dynamics - Kuka Home originated from a small furniture company established in the 1990s, which has now become a leading player in the home furnishing industry [2]. - The home furnishing market in China has seen a significant decline, with new home sales dropping by 40% compared to peak levels, leading to a cautious consumer approach towards home purchases [2][3]. - The top five home furnishing companies in China hold less than 15% market share, indicating a fragmented market with structural opportunities for growth [3]. Group 2: User-Centric Approach and Business Transformation - Kuka Home is shifting its focus to user value, aiming to redefine its role from a real estate supplier to a lifestyle leader, emphasizing long-term value creation [7][8]. - The company is undergoing a transformation that includes digital capabilities enhancement and a new business paradigm centered around user insights [4][8]. - Kuka Home's strategy involves a comprehensive capability building and organizational change to align with user needs, including digital marketing, product design, and supply chain management [8][9]. Group 3: Product Innovation and Market Adaptation - Kuka Home has successfully transitioned from fixed sofas to functional sofas, overcoming significant industry barriers and establishing a unique technological advantage in the functional sofa category [12][15]. - The company has invested heavily in R&D, drawing inspiration from the automotive industry to innovate its product offerings [14][15]. - The growth of functional sofas has been promising, with continuous investment expected to enhance future development prospects [16]. Group 4: Integrated Value Chain and User Experience - Kuka Home is implementing a value chain integration strategy to enhance user experience across different product lines, focusing on holistic home solutions [24][25]. - The company aims to provide deep service through its integrated approach, enhancing customer relationships and overall user value [29][30]. - The establishment of a comprehensive infrastructure, including AI design platforms and efficient delivery systems, is crucial for maintaining high service quality [31][33]. Group 5: Retail Transformation and Operational Efficiency - Kuka Home is transitioning from a wholesale model to a retail-oriented approach, emphasizing end-user sales performance as a key metric [39][50]. - The company has developed several foundational systems to support its retail transformation, including a user marketing system and a retail distribution system [41][43]. - The integration of data-driven decision-making processes is expected to enhance operational efficiency and improve customer engagement [48][49]. Group 6: Global Expansion and Strategic Partnerships - In 2024, Kuka Home's revenue from domestic and international markets was 9.4 billion and 8.4 billion respectively, with international revenue showing an 11% increase [53]. - The company has established production bases in Vietnam, Mexico, and the United States, aiming to leverage local manufacturing capabilities for global expansion [55][56]. - Kuka Home is shifting from OEM/ODM to OBM strategies, targeting higher-end markets and enhancing brand influence in emerging markets [58][59]. Group 7: Governance and Long-Term Strategy - The governance structure of Kuka Home allows for significant autonomy for the management team to drive transformation, with a focus on strategic clarity and long-term goals [60][63]. - The company is committed to a long-term investment strategy in infrastructure and technology, which may not yield immediate profits but is essential for industry restructuring [63][64]. - Kuka Home's approach emphasizes user demand as a guiding principle for its strategic decisions, aiming to build a sustainable and resilient business model [66].

Core Viewpoint - The future sustainable growth of the home furnishing industry must focus on creating long-term value centered around users, moving away from short-term strategies like expanding product categories and aggressive promotions [1][11]. Group 1: Industry Context - The home furnishing industry is undergoing significant changes due to the deep restructuring of the real estate sector, which has heavily impacted related industries [2]. - The industry has transitioned from a "parasitic" model reliant on real estate to a more independent approach, especially as new housing transactions have plummeted [8][9]. Group 2: Company Strategy - Gujia Home (603816.SH) is positioned as a stable player in the home furnishing sector, with consistent revenue growth and a solid cash flow, indicating potential for transformative changes [3]. - The company is moving away from traditional wholesale models to a retail transformation that directly addresses user value, which involves a comprehensive restructuring of its dealer and supplier systems [3][15]. Group 3: Market Dynamics - The home furnishing industry is characterized by a fragmented market with increasing competition and a shift in consumer demand towards more personalized and diverse needs [9][10]. - The past reliance on promotional strategies is no longer effective; understanding and addressing the real needs of consumers has become crucial [9][10]. Group 4: Consumer Behavior - Recent consumer trends indicate a slowdown in transactions, with buyers seeking better quality products at lower prices, reflecting a shift in purchasing behavior [34]. - The increase in product factory prices over the past two years suggests an improvement in supply quality, despite a decrease in overall demand [35]. Group 5: Retail Transformation - Gujia's retail transformation has been ongoing for seven years, focusing on building a user-centered approach rather than a factory-centered one [15][46]. - The company is implementing a digital platform, iKUKA, to enhance retail operations and improve efficiency by connecting directly with consumers [48]. Group 6: Strategic Focus - Gujia aims to redefine itself from merely selling furniture to becoming a brand that leads lifestyle choices, emphasizing a gradual approach from single products to comprehensive lifestyle solutions [19][20]. - The company is focusing on three strategic categories: sofas, mattresses, and customization, which are expected to drive significant revenue growth [26][27]. Group 7: International Expansion - Gujia's overseas business is projected to contribute nearly half of its revenue by 2024, with a focus on developing markets in Southeast Asia and Central Asia [55]. - The company is adopting a focused approach to international expansion, ensuring that resources are aligned to support marketing and sales efforts in strategic countries [56][57]. Group 8: Long-term Value Creation - The company emphasizes the importance of strategic assets and contributions that create long-term value, rather than short-term financial metrics [60][62]. - Gujia's management is committed to maintaining a balance between immediate business performance and long-term capability building, ensuring that strategic initiatives are not compromised during challenging times [63][64].

简称"顾家梅林"） 担 保 对 本次担保金额 5,000 万元 象一 实际为其提供的担保余额 1,200 万元 是否在前期预计额度内 √是 □否 □不适用 本次担保是否有反担保 □是 √否 □不适用 顾家家居（宁波）有限公司（以下 证券代码：603816 证券简称：顾家家居 公告编号：2025-049 顾家家居股份有限公司 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。 重要内容提示： ? 担保对象及基本情况 浙江顾家梅林家居有限公司（以下 被担保人名称 被担保人名称 简称"顾家宁波"） 担 保 对 本次担保金额 20,000 万元 象二 实际为其提供的担保余额 102,600 万元 是否在前期预计额度内 √是 □否 □不适用 本次担保是否有反担保 □是 √否 □不适用 浙江库佳家居销售有限公司（以下 被担保人名称 简称"浙江库佳"） 担 保 对 本次担保金额 15,000 万元 象三 实际为其提供的担保余额 0 万元 是否在前期预计额度内 √是 □否 □不适用： 本次担保是否有反担保 □是 √否 □不适用： 宁波顾创建筑装饰 ...

证券代码：603816 证券简称：顾家家居 公告编号：2025-049 顾家家居股份有限公司 关于为全资子（孙）公司提供担保的公告 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。 重要内容提示： 担保对象及基本情况 | | | 被担保人名称 | 浙江顾家梅林家居有限公司（以下 | | | | --- | --- | --- | --- | --- | --- | | | | | 简称"顾家梅林"） | | | | 担 保 | 对 | 本次担保金额 | 5,000 万元 | | | | 象一 | | 实际为其提供的担保余额 | 1,200 | 万元 | | | | | 是否在前期预计额度内 | √是 | □否 | □不适用 | | | | 本次担保是否有反担保 | □是 | √否 | □不适用 | | 担 保 | 对 | 被担保人名称 本次担保金额 | 顾家家居（宁波）有限公司（以下 简称"顾家宁波"） | | | | | | | 20,000 | 万元 | | | 象二 | | 实际为其提供的担保余额 | 102,600 | ...

Core Viewpoint - The legal opinion letter from Grandall Law Firm (Hangzhou) confirms the legality and compliance of Gujia Home Furnishing Co., Ltd.'s differentiated dividend distribution plan for the fiscal year 2024, ensuring it aligns with relevant laws and regulations [2][8]. Group 1: Differentiated Dividend Distribution - Gujia Home Furnishing plans to distribute a cash dividend of RMB 1.38 per share (including tax) to all shareholders based on the total share capital after deducting repurchased shares [5][6]. - The total net profit attributable to shareholders for 2024 is reported at RMB 1,416,539,574.98, with distributable profits amounting to RMB 1,247,700,551.98 [5][6]. - The total cash dividend to be distributed amounts to RMB 1,134,058,496.22, representing 80.06% of the net profit for the year [6][8]. Group 2: Share Repurchase and Its Impact - The company has approved a share repurchase plan using between RMB 300 million and RMB 600 million of its own funds, with the purpose of future equity incentives and employee stock ownership plans [4][5]. - As of May 23, 2025, Gujia Home Furnishing has repurchased 110,000 shares, accounting for 0.01% of the total share capital [4][5]. - The repurchased shares will not participate in the dividend distribution, which has a minimal impact on the ex-dividend reference price [7][8]. Group 3: Legal Compliance - The legal opinion confirms that the differentiated dividend distribution complies with the Company Law, Securities Law, and relevant regulations from the Shanghai Stock Exchange [2][8]. - The law firm has verified that all necessary documents and statements provided by Gujia Home Furnishing are complete, true, and valid [3][8]. - The opinion letter is intended solely for the purpose of the differentiated dividend distribution and cannot be used for other purposes without prior written consent from the law firm [4].

国浩律师（杭州）事务所 关 于 顾家家居股份有限公司 差异化分红事项 之 专项法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年六月 国浩律师（杭州）事务所 顾家家居差异化分红事项法律意见书 国浩律师（杭州）事务所 关 于 顾家家居股份有限公司 差异化分红事项 之 专项法律意见书 致：顾家家居股份有限公司 国浩律师（杭州）事务所接受顾家家居股份有限公司（以下简称"顾家家居" 或"公司"）的委托，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》（以下简称 ...

证券代码：603816 证券简称：顾家家居 公告编号：2025-048 A 股每股现金红利1.38元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/3 | － | 2025/7/4 | 2025/7/4 | 差异化分红送转： 是 2024年年度权益分派实施公告 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。 重要内容提示： 每股分配比例 一、 通过分配方案的股东大会届次和日期 顾家家居股份有限公司 本次利润分配方案经公司2025 年 5 月 19 日的2024年年度股东大会审议通过。 二、 分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 根据《公司法》《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 规的有关规定，公司存放于回购专用证券账户中的 110,000 ...