Group 1 - The company Qu Mei Home (603818.SH) reported a revenue of 2.555 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 3.14% [1] - The company recorded a net loss attributable to shareholders of 66.93 million yuan [1] - The non-recurring net profit loss amounted to 111 million yuan, with a basic earnings per share of -0.10 yuan [1]

Financial Performance - Total revenue for Q3 2025 was approximately ¥823.07 million, a decrease of 1.36% compared to the same period last year[4] - The total profit for the period was a loss of approximately ¥31.78 million, representing a decline of 21.71% year-on-year[4] - Net profit attributable to shareholders was a loss of approximately ¥20.07 million, an increase of 3.23% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of approximately ¥33.79 million, a significant decrease of 176.90% compared to the previous year[4] - Basic earnings per share for the period were -¥0.03, while diluted earnings per share were also -¥0.03[5] - The company reported a 52.48% increase in total profit for the year-to-date period, primarily due to reduced labor and material costs[9] - Net profit for the first three quarters of 2025 was a loss of ¥65,468,055.59, an improvement from a loss of ¥148,933,326.90 in the same period of 2024[20] - The company reported a gross profit margin of approximately 39.5% for the first three quarters of 2025, compared to 33.1% in the same period of 2024[20] - Basic and diluted earnings per share for the first three quarters of 2025 were both -¥0.10, an improvement from -¥0.21 in the same period of 2024[21] Assets and Liabilities - Total assets at the end of the period were approximately ¥6.72 billion, an increase of 2.47% from the end of the previous year[5] - Shareholders' equity attributable to the parent company was approximately ¥2.18 billion, reflecting a growth of 3.67% compared to the previous year[5] - The company's total liabilities as of September 30, 2025, amounted to ¥4,412,682,703.03, slightly up from ¥4,336,967,539.30 at the end of 2024[20] - Total liabilities for the current period include short-term borrowings and accounts payable totaling ¥277,372,133.25[16] - Short-term borrowings increased to ¥491,182,840.62 from ¥357,024,598.53[16] - The company has a goodwill of ¥1,097,169,824.71, up from ¥984,070,159.58[16] Cash Flow - Cash and cash equivalents as of September 30, 2025, amount to ¥699,921,460.74, a decrease from ¥886,367,595.43 as of December 31, 2024[15] - Cash received from sales and services for the first three quarters of 2025 was approximately $2.84 billion, a decrease of 2.73% compared to $2.92 billion in the same period of 2024[23] - Net cash flow from operating activities for the first three quarters of 2025 was $370.71 million, down 4.4% from $386.57 million in 2024[23] - Cash inflow from financing activities for the first three quarters of 2025 was $1.04 billion, an increase from $906.19 million in 2024[24] - Net cash flow from financing activities for the first three quarters of 2025 was -$606.88 million, compared to -$124.39 million in 2024, indicating a significant increase in cash outflows[24] - The ending balance of cash and cash equivalents as of the end of the third quarter of 2025 was approximately $699.82 million, down from $895.33 million at the end of the third quarter of 2024[24] Shareholder Information - Total number of common shareholders at the end of the reporting period is 26,641[12] - The top three shareholders hold a combined total of 288,586,572 shares, representing 41.04% of total shares[12] Other Financial Metrics - Non-recurring gains and losses for the period totaled approximately ¥13.71 million, with a significant portion attributed to government subsidies and financial asset valuation changes[8] - The company experienced a 122.65% increase in prepaid expenses, indicating a rise in advance payments for goods[10] - Research and development expenses for the first three quarters of 2025 were ¥51,316,142.12, slightly up from ¥50,338,596.59 in 2024[20] - The company recorded an investment income of ¥11,365,303.01 in the first three quarters of 2025, compared to a loss of ¥12,229,545.08 in the same period of 2024[20] - Other comprehensive income after tax for the first three quarters of 2025 was ¥150,398,565.72, compared to a loss of ¥52,577,754.54 in 2024[21] - Cash received from tax refunds increased to $509,705.56 in 2025 from $371,685.56 in 2024, reflecting a 37.1% increase[23] - Total cash outflows from operating activities for the first three quarters of 2025 were approximately $2.56 billion, a decrease of 2.89% from $2.64 billion in 2024[23] - Cash inflow from the disposal of fixed assets and other long-term assets was $20.50 million in 2025, significantly higher than $2.16 million in 2024[23]

Core Insights - Qu Mei Home announced a revenue of 823 million yuan for Q3 2025, representing a year-on-year decline of 1.36% [1] - The company reported a net loss attributable to shareholders of 20.07 million yuan for the same quarter, with a basic earnings per share of -0.03 yuan [1] - For the first three quarters, the total revenue was 2.555 billion yuan, down 3.14% year-on-year, with a net loss of 66.93 million yuan and a basic earnings per share of -0.1 yuan [1]

Core Viewpoint - Qu Mei Home reported a decline in revenue and an increase in net loss for the third quarter and the first three quarters of the year [1] Financial Performance - The revenue for the third quarter was 823 million yuan, a year-on-year decrease of 1.36% [1] - The net loss for the third quarter was 20.07 million yuan, an increase of 3.23% year-on-year [1] - For the first three quarters, the revenue totaled 2.555 billion yuan, reflecting a year-on-year decline of 3.14% [1] - The net loss for the first three quarters was 66.93 million yuan, which is a significant increase of 53.94% year-on-year [1]

Core Viewpoint - Qu Mei Home's stock price has shown a significant increase of 45.59% year-to-date, despite recent fluctuations in the short term [2] Group 1: Stock Performance - On October 21, Qu Mei Home's stock rose by 2.06%, reaching a price of 3.96 yuan per share, with a trading volume of 22.99 million yuan and a turnover rate of 0.86% [1] - Year-to-date, Qu Mei Home's stock has increased by 45.59%, with a 3.13% rise over the last five trading days, a 3.65% decline over the last 20 days, and a 13.73% drop over the last 60 days [2] Group 2: Financial Performance - For the first half of 2025, Qu Mei Home reported a revenue of 1.731 billion yuan, a year-on-year decrease of 3.97%, while the net profit attributable to shareholders was -46.86 million yuan, reflecting a year-on-year increase of 62.39% [2] - Since its A-share listing, Qu Mei Home has distributed a total of 124 million yuan in dividends, with 13.78 million yuan distributed over the past three years [3] Group 3: Shareholder Information - As of June 30, 2025, Qu Mei Home had 25,800 shareholders, an increase of 0.16% from the previous period, with an average of 26,565 circulating shares per shareholder, a decrease of 0.16% [2] - The top ten circulating shareholders of Qu Mei Home saw a change, with Jin Yuan Shun An Yuan Qi Flexible Allocation Mixed Fund (004685) exiting the list [3]

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 ...