证券代码：000785 证券简称：居然智家 公告编号：临 2025-037 居然智家新零售集团股份有限公司 关于第一期员工持股计划第二个锁定期 解锁条件未成就的公告 本公司及除董事长汪林朋先生外的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。 居然智家新零售集团股份有限公司（曾用名：居然之家新零售集团股份有限 公司，以下简称"公司"或"本公司"）第一期员工持股计划（以下简称"本员 工持股计划"）第二个锁定期已于 2025 年 3 月 24 日届满。根据中国证券监督管 理委员会（以下简称"中国证监会"）《关于上市公司实施员工持股计划试点的 指导意见》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规 范运作》等相关规定，依据公司 2024 年度业绩考核结果及持有人个人层面绩效 考核结果，本员工持股计划第二个锁定期解锁条件未成就，现将相关情况公告如 下： 一、员工持股计划的基本情况 （一）本员工持股计划的批准与实施 公司于 2023 年 2 月 15 日召开第十一届董事会第二次会议、第十届监事会第 二次会议，于 2023 年 3 月 7 日召开 2023 年 ...

Group 1: General Information - The research object is Juran Home, belonging to the commercial department store industry. The reception time was June 12, 2025. The company's reception staff included Wang Ning, the director and executive president (acting as chairman and CEO), Zhu Chanfei, the vice president, and Wang Jianliang, the board secretary [16] - The institutions participating in the research were those online in Hubei Province's 2025 Investor Collective Reception Day event and the 2024 Annual Performance Briefing [2][19] Group 2: Core Views - In 2025, the economic policy focuses on expanding domestic demand and promoting consumption. The company leverages its digital transformation advantages and policies to drive continuous development [23] - The company adheres to the international strategy of "industrial collaboration and going global together" to expand overseas markets [26] - The company attaches great importance to market - value management, aiming to enhance profitability, use market - value management tools, and improve communication with investors [26] Group 3: Business Progress Home Furnishing Main Business - By the end of March, 20 branches such as Beijing North Fourth Ring Store and Tongzhou Store were upgraded to smart home experience centers. 15 integrated decoration experience centers were opened. Over a thousand themed marketing activities were carried out. A digital and intelligent investment - promotion management system was built. The intelligent property management system of stores like Taiyuan Spring Store was upgraded [24] Digital Business - Juran Designer, based on AI design tools, promoted the implementation of intelligent home improvement, intelligent shopping guides, intelligent marketing, and cross - border e - commerce. It established companies in North America and Singapore and participated in global exhibitions to expand overseas markets [24] Juran Smart Home - It accelerated chain development using its supply - chain advantages in smart 3C and smart cars. It developed a smart home general control system for new consumption scenarios. It explored overseas development models along with the overseas expansion of physical home - furnishing stores [25] Dongwo - It adhered to the positioning of an industrial service platform, promoted core tasks such as marketing coupon issuance, the "Three - Link" system, national subsidy activities, and the overseas digital platform, and used the promotion and upgrade of the omnichannel business management system to drive platform growth [26] Overseas Plan - The company continued to promote the overseas expansion of online platforms and physical stores. The Kuala Lumpur store in Malaysia was in preparation and planned to open in the third quarter [26]

Group 1: Business Strategy and Development - The company aims to transform into smart home experience centers, with 20 stores upgraded by the end of March 2025 [1] - The establishment of 15 integrated experience centers has been achieved by the end of March 2025 [1] - The company has launched thousands of themed marketing activities to embrace policy benefits [1] Group 2: Digital Transformation and Innovation - The company is developing a smart招商管理 system to enhance supply-demand matching through digitalization [1] - AI design tools are being utilized to promote smart home decoration and marketing, with overseas expansions in North America and Singapore [1] - The company is focusing on four new consumption scenarios: smart living, green low-carbon living, smart elderly care, and health management [1] Group 3: International Expansion - The company is preparing to open a store in Kuala Lumpur, Malaysia, in Q3 2025 as part of its international strategy [2] - The international strategy emphasizes "industry collaboration and collective overseas expansion" [2] Group 4: Financial Management and Shareholder Communication - The company is committed to enhancing profitability and shareholder value amidst stock price fluctuations due to macroeconomic factors [2] - Various market value management tools are being employed to improve shareholder returns [2] - The company is actively communicating with investors to enhance value transmission [2] Group 5: Audit and Compliance Issues - The company is addressing audit concerns related to the actual controller's legal issues, ensuring normal operations continue [2] - Measures are being taken to eliminate the impact of the audit report's reserved opinion [2] - The company is committed to complying with legal obligations regarding information disclosure [2]

Core Viewpoint - The article highlights a significant issue in Guangzhou's furniture and home decoration market, where multiple consumers have reported that businesses, specifically the Ouponi and Gujia brands, failed to fulfill their contractual obligations after receiving substantial prepayments, leading to a total of approximately 896 million yuan in unfulfilled contracts involving 232 consumers [1][10]. Group 1: Consumer Complaints and Contract Issues - Consumers reported signing contracts for full-home customization and renovation services, only to find that the businesses could not deliver on their promises, resulting in financial losses [1][3]. - The Ouponi store offered a promotional package that included government subsidies, which consumers believed to be legitimate, prompting them to make large upfront payments [2][5]. - Many consumers experienced similar issues, with reports indicating that the Ouponi store began failing to deliver on orders around October 2024, and by March 2025, the store was reportedly empty [3][4]. Group 2: Business Practices and Accountability - The involved businesses, including Gujia and Ouponi, have been accused of misleading consumers into signing contracts without the ability to fulfill them, potentially constituting contract fraud under Chinese law [8][11]. - The local government has formed a special task force to address the situation, involving multiple departments to ensure consumer rights are protected and to investigate the businesses' financial practices [10][12]. - As of now, some consumers have received partial compensation, with brands covering about 20% of the contract obligations, while others are pursuing legal action to recover their losses [4][10]. Group 3: Regulatory Response and Future Actions - The local authorities are actively investigating the financial operations of the involved businesses, which reportedly used 13 different accounts to manage consumer payments, indicating a complex and potentially fraudulent financial structure [10][11]. - The government has encouraged affected consumers to pursue collective legal action, with 119 individuals already opting for this route, while also ensuring that the brands fulfill their commitments to consumers [10][12]. - Authorities are focusing on identifying and addressing the vulnerabilities in the business model that allowed such widespread consumer exploitation to occur [12].

Group 1 - The core issue involves four home furnishing brands, including 欧铂尼, facing significant operational failures at the 居然之家新塘 store, leading to hundreds of customers unable to receive their orders, with total amounts exceeding tens of millions [1] - Customers reported that prior to the operational failures, these brands lured them into placing orders with promises of government subsidies, only to later close without fulfilling the orders [1] - 欧铂尼, one of the affected brands, has developed a plan to address the situation, including advancing production for customers with valid contracts and seeking reimbursement from the store's operator, 林国金 [1] Group 2 - 欧铂尼 operates as an independent sub-brand under 欧派家居集团, focusing on high-end custom doors and cabinets, due to trademark disputes preventing the use of the 欧派 brand for certain products [2] - Since October of the previous year, the 欧铂尼 store at 居然之家新塘 has faced issues with order fulfillment, leading to customer complaints and eventual police involvement as the store became unresponsive [2] - 林国金, the dealer for 欧铂尼, operates independently, meaning that customer payments were collected by him rather than directly by 欧铂尼, complicating the resolution of the financial disputes [2]

证券代码：000785 证券简称：居然智家 公告编号：临 2025-036 居然智家新零售集团股份有限公司 关于控股股东部分股份解除质押的公告 本公司及除董事长汪林朋先生外的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。 居然智家新零售集团股份有限公司（以下简称 "公司"或"本公司"）于2025 年 6月3日收到控股股东北京居然之家投资控股集团有限公司（以下简称"居然控股"） 关于其持有的本公司部分股份已解除质押的通知，具体事项如下： 一、股份质押及解除质押的基本情况 | 股东名 | 是否为控股股东 或第一大股东及 | 本次解除质 | 占其所持 | 占公司总 | 起始日 | 解除日 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 称 | 其一致行动人 | 押股数(股) | 股份比例 | 股本比例 | | | | | 居然 | 控股股东 | 59,500,000 | 3.61% | 0.96% | 2025年3月27日 | 2025年5 | 中国银河证券 | | 控股 | | | | | | 月30 ...

Investment Rating - The report maintains a positive outlook on the pet supplies sector, AI glasses, and the home improvement market, highlighting potential acquisition opportunities and new product launches [2][6][27]. Core Insights - The report emphasizes the resilience of essential consumer goods in the personal care sector, with a notable trend towards domestic brands, particularly during promotional events like the 618 sales [6][14]. - The pet supplies market is experiencing consolidation opportunities, with companies like Tianyuan Pet and Yiyi Co. being recommended for their strong market positions and growth potential [6][7]. - The AI glasses segment is expected to see significant product launches in the latter half of 2025, driven by collaborations between major tech companies [12][20]. - The report highlights the positive impact of government policies on the real estate market, which is anticipated to stabilize and boost related sectors, including home improvement [27][28]. Summary by Sections New Consumer Trends - The report identifies the pet supplies sector as a key area for mergers and acquisitions, recommending companies such as Tianyuan Pet and Yiyi Co. for their strong market presence and growth prospects [6][7]. - AI glasses are positioned for growth with new product launches expected from major players like Google and XREAL, indicating a robust market expansion [12][20]. Personal Care Sector - The personal care market shows resilience, with domestic brands gaining traction, particularly during promotional periods [14]. - Recommended companies in this sector include Baiya Co., Haoyue Care, and Dengkang Oral Care, which are expected to benefit from the ongoing consumer trends [14][15]. Home Improvement and Real Estate - The report notes that government initiatives are likely to support the real estate market, leading to improved conditions for the home improvement sector [27][28]. - Companies like Sophia and Oppein Home are highlighted for their potential to benefit from the anticipated recovery in the housing market [23][27]. Paper Industry - The report mentions a price increase in the paper sector, with expectations for price stabilization due to supply adjustments [25]. - Recommended companies in this space include Sun Paper, which is noted for its integrated operations and cost advantages [25]. Export and Trade - The report discusses the impact of tariff changes on exports, particularly in the light industrial sector, with a focus on companies that have a strong competitive edge [6][20].

Group 1 - The company and its subsidiaries have approved a total guarantee limit of up to RMB 124 million for the year 2025, with RMB 50 million allocated for guarantees to quality merchants downstream of the home furnishing chain [2][12] - The company plans to sign a cooperation agreement with Agricultural Bank of China to provide credit support to quality merchants, with a guarantee amount not exceeding RMB 10 million [3][7] - A similar agreement is planned with Huaxia Bank, also with a guarantee amount not exceeding RMB 10 million, aimed at supporting merchants in paying rent and property fees [4][9] Group 2 - The guaranteed merchants are quality merchants recommended by the home furnishing chain, who have passed bank credit assessments and meet financing conditions [5] - The company has a total external guarantee balance of RMB 480.87 million, which accounts for 23.79% of the latest audited net assets [12]

证券代码：000785 证券简称：居然智家 公告编号：临 2025-036 居然智家新零售集团股份有限公司 关于公司及子公司 2025 年度担保的进展公告 本公司及除董事长汪林朋先生外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"或"本公司"）全资子公司。公司于 2025 年 4 月 29 日、2025 年 5 月 23 日分别召开第十一届董事会第十八次会议、 第十届监事会第十七次会议、2024 年年度股东大会，审议通过了《关于公司及子 公司 2025 年度担保额度预计的议案》，同意公司及下属子公司 2025 年度提供担 保额度总计不超过人民币 124,000 万元，其中，家居连锁及其相关下属分（子） 公司向家居连锁下游优质商户提供担保的总额度不超过人民币 50,000 万元。上 述担保额度有效期为公司 2024 年年度股东大会审议通过之日起至 2025 年年度 股东大会召开之日止，具体担保金额、担保期限、担保方式等条款以实际签订的 合同约定为准 ...

证券代码：000785 证券简称：居然智家 公告编号：临 2025-035 居然智家新零售集团股份有限公司 二〇二四年年度股东大会会议决议公告 本公司及除董事长汪林朋先生外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。 特别提示： 1、本次股东大会无增加临时提案的情况； 2、本次股东大会无否决提案或变更以往股东大会已通过决议的情况。 一、会议召开和出席情况 （一）会议召开情况 1、召开时间： （1）现场会议召开时间：2025 年 5 月 23 日（星期五）14:00 时； （2）网络投票时间： 6、会议的召开符合《中华人民共和国公司法》、《上市公司股东大会规则》 及《居然智家新零售集团股份有限公司章程》的规定。 （二）会议出席情况 通过深圳证券交易所交易系统投票的时间为2025年5月23日上午9:15— 9:25，9:30—11:30 和下午13:00—15:00； 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票的时间 为2025年5月23日9:15—15:00期间的任意时间。 2、现场会议召开地点：北京市东城区东直门南大街 ...