Core Viewpoint - The overall trend of the RMB appreciating against the USD has continued since the beginning of the year, prompting companies to consider engaging in financial derivatives trading to hedge against exchange rate and interest rate fluctuations [1][4]. Group 1: Company Actions - Oppein Home, a large home furnishing company, announced plans to engage in financial derivatives trading to mitigate risks from exchange rate and interest rate fluctuations, emphasizing that this is not for speculative purposes [2][3]. - The company plans to conduct financial derivatives transactions with a total amount not exceeding 3 billion RMB (including equivalent foreign currency) for the year 2026 [2]. - The types of financial derivatives to be traded include but are not limited to financial forwards, swaps, options, and other related products, with counterparties being reputable domestic and international financial institutions [2][3]. Group 2: Industry Context - Xuanfeng Automotive also announced plans to engage in financial derivatives trading, with a maximum contract value of 400 million RMB on any trading day in 2026, focusing on foreign exchange forwards and swaps [2][3]. - The overall trend of the RMB has been strong, with a 4.24% depreciation of the USD against the onshore RMB throughout 2025, leading to a significant appreciation of the RMB [4]. - Factors supporting the RMB's strength include a weaker USD and expectations of achieving around 5% economic growth in China for 2025, although uncertainties remain regarding future USD performance and external economic conditions [4][5].

| 证券代码：603833 | 证券简称：欧派家居 | | 公告编号：2026-013 | | --- | --- | --- | --- | | 转债代码：113655 | 转债简称：欧 22 | 转债 | | 欧派家居集团股份有限公司 关于使用闲置募集资金进行现金管理的公告 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： 已履行的审议程序：欧派家居集团股份有限公司（以下简称"公司"）于 2025 年 8 月 8 日召开了第四届董事会第二十六次会议、第四届监事会第十七次 会议，审议通过了《关于使用闲置募集资金进行现金管理的议案》，同意公司使 用总额度不超过人民币 3.5 亿元（含）暂时闲置募集资金适时进行现金管理，决 议有效期自 2025 年 8 月 19 日至 2026 年 8 月 18 日。本事项无需提交公司股东会 审议。 特别风险提示：公司使用暂时闲置募集资金进行现金管理的产品类型虽 然限定为安全性高、风险等级低且期限不超过 12 个月的保本型产品，整体风险 可控，但是相关产品仍可能受宏观经济及金融市场 ...

Core Viewpoint - The company is facing significant changes in the market environment, leading to a reassessment of the "Oupai Home Smart Manufacturing (Wuhan) Project" due to lower-than-expected demand and increased operational pressures in the custom home furnishing industry [3][5]. Group 1: Market Environment and Challenges - Since 2015, the custom home furnishing industry has experienced rapid growth, with a compound annual growth rate (CAGR) of 24.06% from 2015 to 2021, resulting in high capacity utilization and significant production pressure across manufacturing bases [3]. - The company initiated the smart manufacturing project in response to market demand and strategic goals; however, macroeconomic changes and industry cycles have led to weakened demand, structural supply changes, and intensified competition, creating operational challenges [3][5]. - Despite implementing various reforms since 2025, the company's profitability remains under pressure, and continuing with the Wuhan project could negatively impact overall capacity utilization and resource allocation [3][5]. Group 2: Capacity and Production Efficiency - The company has successfully integrated automation, intelligence, and digital technologies into its manufacturing processes, enhancing production efficiency and product reliability across its main production bases [4]. - The smart manufacturing project in Wuhan is progressing, with production lines already operational, and the overall capacity layout is currently sufficient to meet business development needs while allowing for moderate order growth [4]. - To optimize the use of project facilities, the company has decided to temporarily lease out up to 26,000 square meters of idle space for a period not exceeding 12 months, approved by the fourth extraordinary shareholders' meeting in 2025 [4]. Group 3: Future Investment Plans - The company plans to redirect remaining funds from the smart manufacturing project towards three new initiatives: the Digital Empowerment Upgrade Project (1.21 billion), the Delivery Automation Upgrade Project (1.11 billion), and the New Media Operations and Brand Enhancement Project (0.89 billion) [6]. - The total investment for these new projects amounts to approximately 3.69 billion, with the majority funded through raised capital [6].

Core Viewpoint - The company, Oppein Home, announced a reallocation of remaining fundraising for its "Oppein Home Smart Manufacturing (Wuhan) Project," directing 320.2843 million yuan towards three new initiatives to adapt to industry changes and market demands [1]. Group 1: Fund Allocation - The adjusted fundraising represents 16.01% of the original net fundraising amount, totaling 320 million yuan [1]. - The funds will be allocated to three new projects: Digital Empowerment Upgrade (121 million yuan), Delivery Automation Upgrade (111 million yuan), and New Media Operations and Brand Enhancement (89 million yuan) [1][2]. Group 2: Rationale for Change - The decision to change the fundraising allocation is based on two main factors: significant changes in the market environment since the original project planning, leading to weak demand and intensified competition in the custom home industry, and the current capacity layout of the company being sufficient to meet business development needs [2][3]. - The original project had an investment progress of 85.62% with a total of 1.708145 billion yuan raised, but continuing with the original plan could lead to decreased overall capacity utilization, negatively impacting the efficient use of raised funds [3]. Group 3: Project Goals and Timeline - The new projects aim to enhance smart manufacturing, logistics delivery efficiency, and brand marketing capabilities, with a construction period of 2-3 years [3]. - The company plans to market some temporarily idle spaces from the Wuhan project and flexibly allocate certain equipment among its bases to improve asset utilization [3].

Group 1: Industry Overview - The light industry and beauty sector is expected to stabilize and improve due to the dual drivers of domestic demand policies and steady export growth [3] - The "14th Five-Year Plan" marks a year of enhanced domestic demand policies, coupled with consumers' increasing pursuit of high-quality living, creating significant growth opportunities for the industry [3] - The penetration rate of cross-border e-commerce has ample room for improvement, and the recovery of international relations and demand from emerging markets will further drive market expansion [3] Group 2: Beauty Sector - The cosmetics market is projected to grow steadily, with the skincare segment being the largest, reaching a market size of 4,619 billion yuan in 2024, and expected to grow at a CAGR of 8.6% from 2024 to 2029 [19] - The high-end cosmetics market is rapidly expanding, with the market size for high-end skincare products increasing from 749 billion yuan in 2019 to 1,144 billion yuan in 2024, reflecting a CAGR of 8.84% [19] - Key companies in the beauty sector include: - **Mao Geping**: Revenue reached 25.88 billion yuan in H1 2025, with a growth rate of 31.28% [23] - **Lin Qingxuan**: Revenue grew to 10.52 billion yuan in H1 2025, marking a 98.28% increase [27] - **Marubi**: Revenue is expected to reach 29.70 billion yuan in 2024, recovering from previous declines [32] Group 3: Medical Aesthetics - The medical aesthetics sector is facing short-term pressure due to cautious consumer spending, but the long-term growth potential remains strong, with a projected CAGR of 10%-15% from 2024 to 2027 [36] - The market penetration rate for medical aesthetics in China is currently at 4-5%, indicating a growth potential of 2-5 times compared to countries like the US and South Korea [36] - Key companies in the medical aesthetics sector include: - **Jinbo Biological**: Achieved revenue of 12.96 billion yuan in Q1-Q3 2025, with a year-on-year growth of 31.10% [45] Group 4: Daily Chemicals - The daily chemical industry is benefiting from domestic demand policies, with local brands poised to capture market share [49] - Companies such as **Dengkang Oral Care** and **Runben** are highlighted for their strong market positions and growth potential [51][55] - **Shanghai Jahwa** has shown significant growth, with revenue reaching 49.61 billion yuan in Q1-Q3 2025, reflecting a 10.83% increase [59] Group 5: Home Furnishing - The home furnishing sector is under pressure due to weak real estate sales, with a 15% decline in residential investment in 2025 [65] - National subsidies for home appliances and furnishings have provided some support, but the long-term effects are limited [65] - Leading companies such as **Oppein Home** and **Kuka Home** are noted for their strong channel capabilities and multi-category layouts [65]

● 累计转股情况：自2023年2月13日至2025年12月31日，欧派家居集团股份有限公司（以下简称"公 司"）累计共有94,000.00元"欧22转债"已转换成公司A股普通股股票，累计转股数为913股，占可转债转 股前公司已发行股份总额609,151,948股的0.0001%。 ● 未转股可转债情况：截至2025年12月31日，尚未转股的"欧22转债"金额为 1,999,906,000.00元，占可转 债发行总量的99.9953%。 ● 本季度转股情况：2025年10月1日至2025年12月31日期间，"欧22转债"累计转换成公司A股普通股股票 147股。 一、可转债发行上市概况 证券代码：603833 证券简称：欧派家居 公告编号：2026-011 转债代码：113655 转债简称：欧22转债 欧派家居集团股份有限公司 关于可转债转股结果暨股份变动公告 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： （一）经中国证券监督管理委员会（以下简称"中国证监会"）"证监许可[2022]1328号"文核准，公司于 2 ...

累计转股情况：自 2023 年 2 月 13 日至 2025 年 12 月 31 日，欧派家居集团股份有限公 司（以下简称"公司"）累计共有 94,000.00 元"欧 22 转债"已转换成公司 A 股普通股股票，累计 转股数为 913 股，占可转债转股前公司已发行股份总额 609,151,948 股的 0.0001%。 证券代码：603833 证券简称：欧派家居 公告编号：2026-011 转债代码：113655 转债简称：欧 22 转债 欧派家居集团股份有限公司 关于可转债转股结果暨股份变动公告 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： 未转股可转债情况：截至 2025 年 12 月 31 日，尚未转股的"欧 22 转债"金额为 1,999,906,000.00 元，占可转债发行总量的 99.9953%。 本季度转股情况：2025 年 10 月 1 日至 2025 年 12 月 31 日期间，"欧 22 转债"累计转 换成公司 A 股普通股股票 147 股。 一、可转债发行上市概况 （一）经中国证券监 ...

| 证券代码：603833 | 证券简称：欧派家居 | 转债 | 公告编号：2026-012 | | --- | --- | --- | --- | | 转债代码：113655 | 转债简称：欧 22 | | | 欧派家居集团股份有限公司 关于使用闲置募集资金进行现金管理的进展公告 | 产品名称 | 440440491104202511141731 期单位结构性存款 | | --- | --- | | 受托方名称 | 中国建设银行股份有限公司 | | 购买金额 | 万元 7,000 | | 赎回金额（本金） | 7,000 万元 | | 产品期限 | 天 52 | 一、本次使用部分闲置募集资金进行现金管理到期赎回的情况 欧派家居集团股份有限公司（以下简称"公司"）于 2025 年 11 月 18 日披露 了《欧派家居关于使用闲置募集资金进行现金管理的公告》（公告编号：2025-100）， 公司对暂时闲置的募集资金合计人民币 32,000 万元进行了现金管理。2026 年 1 月 5 日，公司购买的 32,000 万元单位结构性存款已到期，募集资金本金及其产 生的收益已全部到账，并存放于募集资金专用账户，具体情 ...

Group 1 - The article presents the top 20 stocks in the S&P China A-Share Dividend Opportunity Index (CSPSADRP) based on their daily and year-to-date performance as of January 5, 2026 [1][5]. - The stock with the highest daily increase is LuRi Co., Ltd. (002083.SZ), which rose by 10.00%, and it also has a year-to-date increase of 10.00% with a dividend yield of 1.21% [1][5]. - Other notable performers include Aotaiwei (688516.SH) with a daily increase of 9.15% and a year-to-date increase of 9.15%, and Yiyi Co., Ltd. (001206.SZ) with a daily increase of 5.28% and a year-to-date increase of 5.28% [1][5]. Group 2 - The list includes various sectors, with companies like Tianshan Aluminum (002532.SZ) and Kuka Home (603816.SH) showing daily increases of 4.51% and 3.68%, respectively [1][5]. - The dividend yields for these companies vary, with notable yields such as 7.86% for Wuliangye (000858.SZ) and 7.24% for Nanshan Aluminum (600219.SH) [1][5]. - The data is sourced from the Shanghai Stock Exchange and reflects the closing prices as of January 5, 2026, with dividend yields calculated for the past 12 months ending December 31, 2025 [1][5].

Group 1 - The company has completed two share repurchase plans using its own funds, with a total transaction amount of 329 million yuan (excluding transaction commissions and other fees) [1] - The company will fulfill its information disclosure obligations in a timely manner if there are any new repurchase plans in the future [1]