Core Insights - The smart sofa industry is experiencing significant growth driven by rising consumer demand for quality, comfort, and smart features, with the market size expected to reach 7.22 billion yuan in 2024, a year-on-year increase of 10.9% [1][6] - The younger generation is becoming the main consumer force, showing a high acceptance of innovative products and a willingness to pay for smart features [1][6] - The expansion of the home furnishing market, particularly in new home renovations and old home upgrades, provides ample market space for smart sofas [1][6] Industry Overview - Smart sofas, also known as electric sofas, integrate information technology, microelectronics, sensors, and mechanical technology to enhance user experience with features like massage, heating, and personalized adjustments [3] - The industry has evolved through three stages: initial development in the 1980s-90s, rapid growth from 2000-2018, and a current phase of innovation driven by IoT, big data, and AI technologies [3] Market Dynamics - The smart sofa industry is characterized by increasing competition as more companies enter the market, leading to higher R&D investments and innovative product launches [1][6] - The supply chain includes raw material suppliers (leather, microfibers, batteries), manufacturers, and various application fields such as homes, offices, and cinemas [5] Competitive Landscape - Major players in the smart sofa market include established furniture brands like Kuka Home, Mousse, and Qumei, as well as emerging tech companies like Xiaomi and Baidu, which leverage technology to enhance product offerings [8] - Kuka Home reported a revenue of 10.204 billion yuan from its sofa business in 2024, reflecting a year-on-year increase of 9.14% [8][9] Future Trends - The integration of AI and IoT technologies will deepen, allowing smart sofas to monitor user health metrics and adjust settings automatically for optimal comfort [10] - Customization demand is expected to rise as younger consumers seek personalized designs and features, expanding the market beyond traditional living spaces [11] - Companies are increasingly looking to expand into international markets to enhance competitiveness and growth opportunities [12]

Group 1 - The company held its first extraordinary general meeting of shareholders on September 15, 2025, in Beijing [2] - The meeting was convened by the board of directors and chaired by Chairman Zhao Ruihai, utilizing a combination of on-site and online voting methods [2][3] - A total of 10 directors were in office, with 2 present at the meeting, while the board secretary also attended [3][4] Group 2 - The meeting approved several resolutions, including the cancellation of the supervisory board and amendments to the company's articles of association [5] - Other approved resolutions included revisions to the rules of shareholder meetings, board meetings, independent director work systems, related party transaction management, external guarantee management, external investment management, and fundraising management [5][6] - The first resolution required a special majority, needing more than two-thirds of the voting rights held by attending shareholders to pass [6][7] Group 3 - The meeting was witnessed by lawyers from Shanghai Jintiancheng Law Firm, who confirmed that the procedures and results of the meeting complied with relevant laws and regulations [8][9] - The legal opinion concluded that the resolutions made during the meeting were legitimate and effective [9]

上海市锦天城律师事务所 关于曲美家居集团股份有限公司 2025 年第一次临时股东会之 法律意见书 锦 天 城 律师事务 所 ALLBRIGHT LAW OFFICES 地址：上海市浦东新区银城中路 501 号上海中心大厦 11/12 层 电话: 021-20511000 邮编： 200120 上海市锦天城律师事务所 关于曲美家居集团股份有限公司 2025 年第一次临时股东会之 法律意见书 致: 曲美家居集团股份有限公司 上海市锦天城律师事务所(以下简称"本所")接受曲美家居集团股份有限 公司（以下简称"公司"）委托，就公司召开 2025 年第一次临时股东会（以下 简称"本次股东会"）的有关事宜,根据《中华人民共和国公司法》（以下简称 "《公司法》") 《上市公司股东会规则》等相关法律、法规及规范性文件以及 《曲美家居集团股份有限公司章程》 (以下简称"《公司章程》") 的有关规定. 出具本法律意见书。 为出具本法律意见书,本所及本所律师依据《律师事务所从事证券法律业务 管理办法》和《律师事务所证券法律业务执业规则》等规定,严格履行了法定职 责,遵循了勤勉尽责和诚实信用原则,对本次股东会所涉及的相关事项进行了必 ...

证券代码：603818 证券简称：曲美家居 公告编号：2025-047 曲美家居集团股份有限公司 2025年第一次临时股东会决议公告 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： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 9 月 15 日 (二)股东会召开的地点：北京市朝阳区顺黄路 217 号公司 B 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 287 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 136,359,472 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 19.8617 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 会议由公司董事会召集，董事长赵瑞海先生主持，采取现场投票和网络投票相结 合的表决方式，本次会议召集、召开及表决方式符合《公司法》和《公司章 ...

二〇二五年九月 | | | | 会议须知 . | | --- | | 会议议程 | | 议案一:关于取消监事会并修订《公司章程》的议案 | | 议案二：关于修订部分公司治理制度的议案 | 会议须知 曲美家居集团股份有限公司 2025年第一次临时股东会会议资料 为确保公司本次股东会的顺利召开，维护投资者的合法权益，确保股东会的 正常秩序和议事效率，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司股东会规则》以及《公司章程》的有关规定，特制定本须知，请出席 股东会的全体人员遵照执行。 一、股东会设会务组，负责会议的组织工作和处理相关事宜； 二、股东会期间，全体出席人员应以维护股东的合法权益、确保股东会的正 常秩序和议事效率为原则，自觉履行法定义务； 三、本次股东会采取现场投票与网络投票相结合的方式。公司将通过上海证 券交易所股东会网络投票系统向公司股东提供网络形式的投票平台，公司股东可 以在交易时间内通过上述系统行使表决权。公司股东只能选择现场投票或网络投 票中的一种表决方式行使表决权，如同一表决权通过现场和网络投票系统重复进 行表决的，或同一表决权在网络投票系统重复进行表决的，均以第一次表决投票 ...

Core Points - The announcement details the share pledge and release situation of Qu Mei Home Group Co., Ltd's major shareholders [1][2] - The controlling shareholders, Zhao Ruihai and Zhao Ruibin, hold significant stakes in the company, with Zhao Ruihai owning 128,516,972 shares (18.72%) and Zhao Ruibin owning 125,829,600 shares (18.33%) [2] - A total of 42,207,792 shares from both Zhao Ruihai and Zhao Ruibin have been pledged, representing 32.84% and 33.54% of their respective holdings [2] Share Pledge and Release Details - Zhao Ruihai has released part of his pledged shares, while Zhao Ruibin has also undergone similar actions regarding his pledged shares [2] - Zhao Ruijie, a concerted actor, holds 34,244,000 shares (4.99%) with no pledged shares [2] - The announcement confirms the current status of share pledges and releases as of the disclosure date [2][3]

Group 1 - The core point of the article is that Qu Mei Home (SH 603818) announced the shareholding and pledge status of its major shareholders, indicating significant share pledges by the controlling shareholders [1] - As of the announcement date, the controlling shareholder Zhao Ruihai holds approximately 129 million shares, accounting for 18.72% of the company, with a total pledge of about 42.21 million shares, which is 32.84% of his holdings [1] - Another controlling shareholder, Zhao Ruibin, holds approximately 126 million shares, representing 18.33% of the company, with a total pledge of about 42.21 million shares, which is 33.54% of his holdings [1] - The company’s other significant shareholder, Zhao Ruijie, holds approximately 34.24 million shares, which is 4.99% of the company, with no pledged shares [1] Group 2 - For the fiscal year 2024, Qu Mei Home's revenue composition is primarily from home furnishings, which accounts for 98.02%, while other businesses contribute 1.98% [1] - The current market capitalization of Qu Mei Home is 2.8 billion yuan [2]

Core Points - The announcement details the shareholding structure and recent changes in share pledges of Qu Mei Home Furnishing Group Co., Ltd. [1] - The controlling shareholders, Zhao Ruihai and Zhao Ruibin, have released a portion of their pledged shares [1][2] Shareholding Summary - Zhao Ruihai holds 128,516,972 shares, representing 18.72% of the company, with 68,190,300 shares released from pledge, which is 53.06% of his holdings and 9.93% of the total shares [1][2] - Zhao Ruibin holds 125,829,600 shares, representing 18.33% of the company, with 61,930,000 shares released from pledge, which is 49.22% of his holdings and 9.02% of the total shares [1][2] - Zhao Ruijie holds 34,244,000 shares, representing 4.99% of the company, with no shares pledged [1][2] Pledge Situation - As of the announcement date, the total number of pledged shares by Zhao Ruihai, Zhao Ruibin, and their concerted action party amounts to 84,415,584 shares, which is 29.25% of their total holdings [1][2] - The remaining pledged shares for both Zhao Ruihai and Zhao Ruibin are now zero after the release of the pledged shares [1][2]

截至本公告披露日，公司控股股东、实际控制人赵瑞海先生持有公司 128,516,972股股份，持股比例18.72%；累计质押42,207,792股，占其所持股份 的32.84%。公司控股股东、实际控制人赵瑞宾先生持有公司125,829,600股股份， 持股比例18.33%；累计质押42,207,792股，占其所持股份的33.54%。 公司控股股东、实际控制人一致行动人赵瑞杰先生持有公司34,244,000 股股份，持股比例4.99%；累计质押股份数量0股。 证券代码： 603818 证券简称：曲美家居 公告编号：2025-046 本公司及全体董事会成员保证本公告内容不存在任何虚假记载、误导性陈 述或重大遗漏，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： | 股东 | 是否为 | 本次质押 | 是否 | 是否 | 质押 | 质押 | | 占其所 | 占公司 | 质押融资 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 控股股 | 股数 | 为限 | 补充 | 起始日 | 到期日 | ...

Core Viewpoint - Qu Mei Home's recent financial report indicates a decline in revenue and a significant increase in net loss, highlighting challenges in its business model and financial health [1][3]. Financial Performance - Total revenue for the first half of 2025 was 1.731 billion yuan, a decrease of 3.97% year-on-year [1]. - The net profit attributable to shareholders was -46.86 million yuan, an increase of 62.39% compared to the previous year [1]. - The gross margin improved to 36.57%, up 16.34% year-on-year, while the net margin was -2.64%, an increase of 62.78% [1]. - Total expenses (selling, administrative, and financial) amounted to 672 million yuan, accounting for 38.82% of revenue, an increase of 6.14% year-on-year [1]. Cash Flow and Debt Situation - The company's liquidity ratio was 0.82, indicating rising short-term debt pressure [1]. - Cash and cash equivalents decreased by 20.82% to 791 million yuan [1]. - The interest-bearing debt was 2.984 billion yuan, down 2.87% year-on-year [1]. Business Model and Return on Investment - The company's return on invested capital (ROIC) was 1.15%, indicating weak capital returns [3]. - Historical data shows a median ROIC of 9.44% since its listing, with three years of losses out of nine annual reports, suggesting a fragile business model [3]. Analyst Expectations - Analysts expect the company's performance in 2025 to yield a net profit of 113 million yuan, with an average earnings per share of 0.16 yuan [4].