Group 1 - The core point of the article is that Juran Smart Home has secured a factoring financing service of up to 740 million yuan from the Industrial and Commercial Bank of China, with real estate properties as collateral [1][7] - The financing is backed by properties held by Harbin Xinyuan Commercial Management Co., Ltd. and Jilin Sun City Property Management Co., Ltd., showcasing the company's strategic use of its real estate assets [1][5] - Juran Smart Home has a history of utilizing its real estate for financing, indicating a well-established practice of leveraging assets for capital [7][9] Group 2 - Juran Smart Home, established in 1999, has evolved into a major retail group focusing on home goods and has attracted strategic partners like Alibaba and Taikang Life since 2018 [3] - The company has been publicly listed since December 2019 and officially changed its name to Juran Smart Home in December 2024 [3] - The total building area of the properties used for collateral exceeds 238,600 square meters, forming a significant asset base in Northeast China [8][9] Group 3 - The internal guarantee structure of the financing arrangement reflects the efficiency of resource coordination within the group, minimizing external guarantee requirements and reducing overall financing costs [7][9] - As of June 30, 2025, the total assets of the home chain reached 41.334 billion yuan, with total liabilities of 24.593 billion yuan, indicating a solid financial foundation for the financing [11] - The overall guarantee structure among Juran Smart Home and its subsidiaries shows a manageable risk control approach, with guarantees totaling 5.433 billion yuan, representing 26.87% of the latest audited net assets [11]

Core Viewpoint - The actual controller of Juran Smart Home has changed to Yang Fang, the spouse of the late founder Wang Linpeng, who has also joined the board of directors. The company reported a revenue increase but a significant profit decline in the first half of the year due to intensified competition in the home furnishing market [2][3][5]. Group 1: Change in Leadership - Yang Fang has inherited the shares of the late founder Wang Linpeng and has become the new actual controller of Juran Smart Home [2][3]. - Wang Ning, a long-time executive within the "Juran system," has been appointed as the new chairman and CEO of the company [4][5]. Group 2: Financial Performance - In the first half of the year, Juran Smart Home reported a revenue of 6.445 billion yuan, a year-on-year increase of 1.54%, while the net profit was 328 million yuan, a year-on-year decrease of 45.52% [5]. - The decline in net profit is attributed to increased competition in the home furnishing market and support measures for merchants, including rent and management fee reductions [5][6]. Group 3: Strategic Initiatives - To address the revenue decline, the company is innovating its market cooperation model and improving cost management, leading to a decrease in fixed rental costs and better management fee ratios [6]. - The company has introduced a new recruitment model called "one store, two systems," which aims to share risks and benefits with distributors and brand partners [6]. Group 4: Brand and Market Positioning - Wang Ning has expressed a desire to return to the "Juran Home" brand, emphasizing the importance of consumer trust in the retail sector [7]. - The company has undergone a name change from "Juran Home" to "Juran Smart Home" to better reflect its focus on smart home products and services [7][8]. - Juran Smart Home's digital transformation includes initiatives like "Juran Design Home" and "Juran Smart Home," with significant sales growth reported in the first half of the year [8].

Group 1 - The company, Juran Smart Home Group Co., Ltd., is providing a guarantee through its wholly-owned subsidiary, Changchun Juran Enterprise Management Co., Ltd., for a credit facility of RMB 500 million with a term of 10 years [2][3] - The collateral for this guarantee is a property held by Changchun Juran Enterprise Management Co., Ltd., specifically the Changchun Zhongshang World Shopping Center, which has a building area of 160,506.02 square meters [7][8] - As of December 31, 2024, the company reported total assets of RMB 49.68 billion, total liabilities of RMB 28.71 billion, and a net profit of RMB 835.19 million for the year [3][4] Group 2 - The company has a total of RMB 543.28 million in guarantees provided to subsidiaries, which represents 26.87% of the latest audited net assets [9][16] - The company and its subsidiaries have not provided any counter-guarantees for the current guarantee arrangements, indicating a controlled risk environment [8][16] - As of June 30, 2025, the company reported total assets of RMB 47.84 billion and a net profit of RMB 330.55 million for the first half of the year [4][5]

证券代码：000785 证券简称：居然智家 公告编号：临 2025-059 居然智家新零售集团股份有限公司 关于子公司提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、担保情况概述 北京居然之家家居连锁有限公司（以下简称"家居连锁"）为居然智家新零 售集团股份有限公司（以下简称"公司"、"本公司"）全资子公司，哈尔滨信 源商业管理有限公司（以下简称"哈尔滨信源"）、吉林太阳城物业管理有限公 司（以下简称"吉林太阳城"）为家居连锁全资二级子公司。前期因业务发展需 要，家居连锁与中国工商银行股份有限公司北京东城支行（以下简称"工商银行 北京东城支行"）签订《电子供应链数字信用凭据融资业务合作协议》等相关协 议，工商银行北京东城支行为家居连锁提供最高额为人民币 7.4 亿元的保理融资 服务（以下简称"本次主债权"）。近期，哈尔滨信源拟以其持有的黑龙江省哈 尔滨市道外区先锋路 168 号地产、吉林太阳城以其持有的吉林省长春市宽城区杭 州路 41、56 号地产为本次主债权提供抵押担保。 家居连锁、哈尔滨信源、吉林太阳城已作出股东决定，同意本次抵押担保事 ...

证券代码：000785 证券简称：居然智家 公告编号：临 2025-058 居然智家新零售集团股份有限公司 关于子公司对公司提供担保的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 4、法定代表人：王宁 5、注册资本：622704.8814 万元人民币 6、经营范围：百货、日用杂品销售；超级市场零售；装饰设计；销售家具、 建筑材料、五金交电、计算机、软件及辅助设备、电子产品；物流配送、仓储服 务（不含易燃易爆物品）；健身、摄影、复印、干洗服务；字画装裱；房屋出租； 经济贸易咨询；物业管理；汽车货运；道路货运代理。（以上经营范围中需专项 审批的，仅供持有许可证的分支机构使用）。（涉及许可经营项目，应取得相关 部门许可后方可经营） 一、担保情况概述 长春居然之家企业管理有限公司（以下简称"长春居然企管公司"）为居然 智家新零售集团股份有限公司（以下简称"公司"、"本公司"）三级全资子公 司。近日，公司因业务发展需要，拟与中国邮政储蓄银行股份有限公司北京石景 山区支行（以下简称"邮储银行北京石景山区支行"）签订《最高额抵押授信额 度合同》，授信额度金额为人民币 ...

Core Viewpoint - The renaming of home furnishing companies is often seen as a significant event impacting their future development and performance, with various companies undergoing name changes for strategic reasons and experiencing different outcomes in their financial performance post-renaming [1][19]. Group 1: Reasons for Name Changes - Companies change their names primarily due to upgrades in business models and operational strategies, such as embracing smart home trends, as seen with Haier Smart Home and Juran Home [19]. - Transitioning from single-category products to comprehensive home customization solutions is a common reason for renaming, exemplified by companies like Gold Medal Home and Zhihong Home [19]. - Changes in control, such as TCL Smart Home and Diou Water Flower, often lead to name changes, reflecting new strategic directions [19]. - Significant shifts in core business focus, as seen with Keda Manufacturing and Luolai Life, prompt renaming to better align with their evolving business scope [19]. Group 2: Financial Performance Post-Renaming - Juran Home experienced a decline in profits six months after its name change, with a revenue of 6.445 billion yuan, a year-on-year increase of 1.54%, and a net profit of 328 million yuan, a year-on-year decrease of 45.52% [3][4]. - Haier Smart Home has shown consistent growth post-renaming, achieving a revenue of 156.494 billion yuan in the first half of 2025, a year-on-year increase of 10.2%, and a net profit of 12.033 billion yuan, a year-on-year increase of 15.6% [6][8]. - Gold Medal Home reported a revenue of 1.469 billion yuan in the first half of 2025, a year-on-year decrease of 3.37%, and a total profit of 61.24 million yuan, a year-on-year decrease of 13.65% [10][12]. - TCL Smart Home, after its name change, reported a revenue of 9.476 billion yuan in the first half of 2025, a year-on-year increase of 5.74%, and a net profit of 638 million yuan, a year-on-year increase of 14.15% [13][14]. - Keda Manufacturing's revenue reached 8.188 billion yuan in the first half of 2025, a year-on-year increase of 49.04%, with a net profit of 745 million yuan, a year-on-year increase of 63.95% [16][18].

Core Viewpoint - The renaming of home furnishing companies is often seen as a significant event impacting their future development and performance, with various companies changing their securities names for strategic reasons and experiencing different outcomes in their financial performance post-renaming [1]. Group 1: Reasons for Renaming - Companies often rename to align with upgraded business models and strategies, such as embracing smart home trends, as seen with Haier Smart Home and Juran Home [20]. - Transitioning from single-category products to comprehensive home customization solutions is a common reason for renaming, exemplified by companies like Golden Home and Zhihong Home [20]. - Changes in control or ownership can lead to renaming, as demonstrated by TCL Smart Home and Diou Water Huazhong, which both underwent changes in their major shareholders [20]. - Significant shifts in core business focus, such as the expansion into new business areas that surpass traditional ones, are also a reason for renaming, as noted with Keda Manufacturing and Luolai Life [20]. Group 2: Financial Performance Post-Renaming - Juran Home experienced a decline in profits six months after its renaming, with a revenue of 6.445 billion yuan, a year-on-year increase of 1.54%, but a net profit drop of 45.52% [4]. - Haier Smart Home has shown consistent growth in revenue and net profit for five consecutive years post-renaming, with a revenue of 156.494 billion yuan and a net profit of 12.033 billion yuan in the first half of 2025, marking increases of 10.2% and 15.6% respectively [6][8]. - Golden Home reported a revenue of 1.469 billion yuan in the first half of 2025, a decrease of 3.37%, and a profit of 61.24 million yuan, down 13.65% [10]. - TCL Smart Home, after its renaming, achieved a revenue of 9.476 billion yuan and a net profit of 638 million yuan in the first half of 2025, reflecting increases of 5.74% and 14.15% respectively [14]. - Keda Manufacturing saw its revenue grow from 7.298 billion yuan to 11.16 billion yuan from 2020 to 2022, with a net profit increase from 262 million yuan to 4.251 billion yuan, and reported a revenue of 8.188 billion yuan and a net profit of 745 million yuan in the first half of 2025, marking increases of 49.04% and 63.95% respectively [16][18].

Summary of Key Points Core Viewpoint The company,居然智家新零售集团股份有限公司, has announced the provision of guarantees for its subsidiaries in 2025, detailing the amounts and conditions of these guarantees. Group 1: Guarantee Overview - The total guarantee amount for the company and its subsidiaries in 2025 is approved to be no more than RMB 124 million, with a specific guarantee of up to RMB 70 million from the subsidiary,家居连锁, to居然智能 [2][3] - The company has held multiple board meetings to adjust and approve the guarantee methods and amounts for its subsidiaries [3] Group 2: Guarantee Progress -居然智能 plans to sign a loan agreement with交通银行 for RMB 14 million, with家居连锁 providing a joint liability guarantee for this loan [4][5] - The黄冈购物中心 will provide property as collateral for the loan, which includes 60 properties located in黄冈市 [4][5] Group 3: Basic Information of the Guaranteed Entity -居然智能 was established on March 22, 2016, with a registered capital of RMB 20 million and operates in various technology and sales sectors [6][7] - As of December 31, 2024,居然智能 had total assets of RMB 1.13 billion and a net profit of RMB 8.24 million for the year [8] Group 4: Guarantee Contract Details - The guarantee contract with交通银行 includes a maximum principal amount of RMB 14 million, covering all related debts and costs [10] - The collateral agreement involves黄冈购物中心 providing its properties as security for the loan, with similar coverage of all related debts and costs [12][23] Group 5: Cumulative Guarantee Amount - As of the latest report, the total guarantee amount provided by the company and its subsidiaries is RMB 471.74 million, which accounts for 23.34% of the company's latest audited net assets [14][27]

Core Viewpoint - Recently, significant personnel changes and business information adjustments occurred at Juran Smart Home New Retail Group Co., Ltd. The legal representative, chairman, and manager positions were changed from Wang Linpeng to Wang Ning, and the registered capital was reduced from approximately 6.287 billion RMB to about 6.227 billion RMB [1][5][6]. Group 1: Personnel Changes - Wang Ning has been elected as the new chairman of the board following the unfortunate passing of the former chairman and CEO, Wang Linpeng, on July 27 [5][6]. - The board of directors completed the power transition through an election process, indicating the continuity of internal governance mechanisms [6]. Group 2: Capital Structure Adjustments - The registered capital was reduced by approximately 600 million RMB, although the specific purposes and impacts of this reduction have not been publicly disclosed [6][7]. - Market analysts suggest that the personnel changes and capital structure adjustments may be synchronized to stabilize company operations in response to the change in actual control [6]. Group 3: Company Background - Juran Smart Home was established in April 1990, with business operations covering supermarket retail, decoration design, and property leasing among other areas [6][7]. - The company is jointly held by Wang Linpeng, Beijing Juran Home Investment Holding Group Co., Ltd., and Horgos Huixin Da Building Materials Co., Ltd. [6].

证券日报网讯9月10日晚间，居然智家（000785）发布公告称，截至目前，公司及控股子公司之间的担 保余额共计471，736.75万元，占公司最近一期经审计净资产的23.34%；公司及控股子公司对合并报表 范围外单位的担保余额为59.79万元，占公司最近一期经审计净资产的0.003%。 ...