Group 1 - The core point of the article is that the company,居然智家, has disclosed that it expects to have 94,988 shareholders by December 31, 2025 [1]

Core Insights - The year 2025 witnessed significant transformations in the business landscape, with AI technology moving from experimental phases to large-scale applications, and cross-industry competition becoming the norm [2] - The experiences of various business leaders reflect the dynamic nature of the commercial world, emphasizing the importance of adapting to changes and maintaining ethical standards [2] Group 1: Key Business Figures - Liang Wenfeng led DeepSeek to disrupt the AI industry by releasing the R1 model, which achieved top performance with a low cost of approximately 2.08 million yuan, challenging the dominance of Western AI firms [4] - Liu Qiangdong initiated a fierce competition in the food delivery sector with a "0 commission" policy, investing heavily in subsidies while also expanding into smart robotics and automotive sectors [7][8] - Lei Jun faced significant challenges in the automotive sector, with safety concerns leading to a recall of 116,000 vehicles and a market value loss exceeding 120 billion yuan for Xiaomi [9] - Zhang Yiming maintained a low profile while achieving significant growth for ByteDance, with Douyin's e-commerce GMV reaching 4.3 trillion yuan, marking a 32% increase [14] - Huang Renxun's Nvidia became the first company to surpass a market value of 5 trillion yuan, holding over 80% of the global AI computing power market [15] Group 2: Industry Challenges and Trends - The rise of open-source models poses a challenge to Nvidia's dominance, highlighting the potential for industry disruption and the need for adaptability [16] - The tragic passing of Wang Linpeng, founder of Juran Home, underscores the pressures faced by traditional industry leaders amid market transformations [17][18] - The public backlash against traditional businesses, as seen with Jia Guolong of Xibei, illustrates the increasing demand for transparency and accountability in the food industry [12][13] - The downfall of Zhang Xuefeng, a prominent education influencer, serves as a cautionary tale about the risks of prioritizing commercial success over ethical standards [21]

Core Viewpoint - The company,居然智家, has signed a framework agreement with 优必选, with the collaboration expected to progress by March 2025, but it is subject to various uncertainties including market conditions and the business plans of the partners [1] Group 1 - The company emphasizes the importance of cautious decision-making and rational investment for its investors due to the uncertainties surrounding the collaboration [1] - The company adheres strictly to information disclosure regulations and will promptly disclose any matters that meet the disclosure standards [1]

Core Viewpoint - The company announced a board meeting to approve a guarantee for its subsidiary's financing needs, indicating a strategic move to support business development through financial arrangements [1] Group 1: Company Actions - The company will hold its 12th board meeting on December 30, 2025, to discuss the proposal for providing guarantees for its subsidiary [1] - The full subsidiary, Beijing Juran Home Chain Co., Ltd., plans to sign a financing agreement with Shanghai Pudong Development Bank Beijing Branch for a credit limit of RMB 500 million [1] - The company intends to provide a joint liability guarantee for this credit facility through a maximum guarantee contract with the bank [1] Group 2: Subsidiary Involvement - The subsidiary, Hohhot Juran Home Commercial Real Estate Co., Ltd., will also participate by signing a maximum mortgage contract with the bank [1] - The mortgage will be secured by a property located at the intersection of Erdos Street and Xilin Gol South Road in Hohhot [1] - The total principal amount of the guaranteed debt will not exceed RMB 500 million [1]

Core Viewpoint - The company, Juran Smart Home (居然智家), has signed a framework agreement with UBTECH, which is set to take effect in March 2025, but the progress of this collaboration is subject to various uncertainties including market conditions and the business plans of the partners [1] Group 1 - The agreement with UBTECH is a framework agreement, indicating a preliminary understanding between the two companies [1] - The collaboration's advancement will depend on multiple factors, including internal and external market conditions [1] - Investors are advised to make cautious and rational investment decisions due to the inherent uncertainties in the partnership [1]

居然智家新零售集团股份有限公司 关于为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。 居然智家新零售集团股份有限公司（以下简称"公司"）于 2025 年 12 月 30 日以通讯方式召开了第十二届董事会第二次会议，审议通过了《关于为子公 司提供担保的议案》。 根据《深圳证券交易所股票上市规则》、《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》和《公司章程》的相关规定，本次担 保事项无需提交公司股东会审议，该事项不属于关联交易事项，无需履行关联交 易表决程序。现就相关事项公告如下： 证券代码：000785 证券简称：居然智家 公告编号：临 2025-086 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"）为公司全资子公 司，呼和浩特市居然之家商业地产有限公司（以下简称"呼市居然"）为公司全 资三级子公司。因业务发展需要，家居连锁拟与上海浦东发展银行股份有限公司 北京分行（以下简称"浦发银行北京分行"）签订《融资额度协议》，融资额度 为人民币 50,000 万元（以下简称"本次授信"或"主债权" ...

居然智家新零售集团股份有限公司 第十二届董事会第二次会议决议公告 证券代码：000785 证券简称：居然智家 公告编号：临 2025-085 公司全资子公司北京居然之家家居连锁有限公司因业务发展需要，拟与上海 浦东发展银行股份有限公司北京分行（以下简称"浦发银行北京分行"）签订《融 资额度协议》，融资额度为人民币 50,000 万元（以下简称"本次授信"），授信期 限为 1 年。公司拟与浦发银行北京分行签订《最高额保证合同》，为本次授信提 供连带责任保证担保；呼和浩特市居然之家商业地产有限公司拟与浦发银行北京 分行签订《最高额抵押合同》，以其持有的位于呼和浩特市主干道鄂尔多斯大街 与锡林郭勒南路交汇处西南角的房产为本次授信提供抵押担保。 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、董事会会议召开情况 居然智家新零售集团股份有限公司（以下简称"公司"）第十二届董事会第 二次会议（以下简称"本次会议"）于 2025 年 12 月 30 日以通讯形式召开，会议 通知已于 2025 年 12 月 24 日以电子邮件形式发出。本次会议应出席会议董事 15 人，实 ...

来源：环球网 ·美凯龙与建发首个协同商业体开业 ·居然智家完成换届 王宁任董事长兼CEO ·顾家乐活升级为副品牌 加速布局三四线城市市场 ·梦天家居6.86%股份协议转让过户完成 控制权保持不变 ·智能睡眠方案商ONETENO获Pre-A轮融资 ·LV北京三里屯旗舰店揭幕 设LV Home家居专区 ·东易日盛重整获批 ·华为鸿蒙智家推出多档智装套餐 ·东鹏、新明珠合资地产公司2.79亿拿宅地 ·海尔智家出售印度子公司49%股权 ·九牧在沙特打造其海外最大展厅 ·友邦吊顶筹划控制权变更 ·东方雨虹发布海外全新品牌"OYH" 美凯龙与建发首个协同商业体开业 12月20日，由红星美凯龙与建发商管合作打造的首个商业项目——成都湾悦城正式开业。据了解，湾悦 城此前为美凯龙生活美学中心，于2021年开业，总建筑面积约14.4万平方米。为了给消费者提供更好的 购物体验，美凯龙联手建发商管，对项目进行"业态焕新"。该项目定位为"城南活力家庭悦聚场"，聚焦 家庭客群全方位需求，引入健身运动、亲子娱乐、户外运动及餐饮等业态。 居然智家完成换届 王宁任董事长兼CEO ·上海首家银发商店开业 汇聚多品牌适老家具 12月23日，居然智 ...

Group 1 - The registered capital of Beijing Juran Home Smart Technology Co., Ltd. has increased from 200 million to 500 million yuan [2] - The company was established in March 2016 and its business scope includes electronic product sales, enterprise management, and domestic cargo transportation agency [2] - Beijing Juran Home Smart Technology Co., Ltd. is wholly owned by Juran Home (000785) under Beijing Juran Home Furnishing Chain Co., Ltd. [2]

Core Viewpoint - The transition of Juran Home from a "fixed rent" model to a "sales commission" model has sparked widespread discussion in the industry, with initial results showing high tenant recruitment rates and positive merchant feedback, raising questions about the potential for this model to revitalize the home furnishing market [1][2][5] Group 1: Transition to Sales Commission Model - Juran Home's chairman announced the shift to a "sales commission" model, aiming to complete the transition for 80% of its direct stores within three years [1][5] - The pilot implementation at Juran Home's Harbin store increased tenant recruitment from approximately 40% to 100%, while the new intelligent home experience center in Neijiang achieved a recruitment rate of 98% with sales exceeding 20 million yuan in just half a month [2][5] - The rental management income of Juran Home has been declining as a percentage of total revenue, dropping from 82.3% in 2019 to 55.75% in 2022, indicating a shift in the business model is necessary [5][6] Group 2: Industry Context and Challenges - The home furnishing market has seen a decline in foot traffic and tenant retention, leading to demands for reduced rent from merchants in various regions [9][10] - The traditional rental model, which relies heavily on fixed rents, is being challenged as merchants seek more flexible arrangements that align with their sales performance [10][12] - Juran Home's approach to eliminate fixed rent in favor of sales commissions is seen as a radical departure from industry norms, which typically combine fixed rents with sales-based incentives [6][10] Group 3: Potential Implications and Future Directions - The "sales commission" model may not be a universal solution, as previous attempts at "zero rent" models have not gained significant traction or proven effective [12][13] - Juran Home's strategy aims to reduce the financial burden on merchants, fostering a collaborative environment that could enhance marketing and supply chain partnerships [13][21] - The shift towards a sales commission model is expected to stimulate competition among home furnishing retailers, potentially leading to broader industry changes and innovations [21][23]