Core Viewpoint - Despite significant changes, the company, Juran Zhijia, managed to report a slight revenue growth of 1.54% in the first half of the year, reaching 6.445 billion yuan, although net profit fell sharply by 45.52% to 329 million yuan, indicating challenges in the home furnishing industry due to economic fluctuations and intensified competition [1] Financial Performance - Revenue for the first half of the year was 6.445 billion yuan, reflecting a 1.54% increase year-on-year [1] - Net profit decreased by 45.52% to 329 million yuan [1] - Gross margin dropped to 23.85%, a decline of 9.47 percentage points year-on-year [1] - Total assets decreased by 3.69% to 47.84 billion yuan [1] Management Changes - Following the sudden death of the company's actual controller, Wang Linpeng, the management is undergoing adjustments [2] - Wang Ning, previously the executive president, has taken over as chairman and legal representative of the company [3] - Wang Ning has extensive experience within the company, having held various key positions since joining in 1999 [3] Shareholding Structure - Wang Ning holds only 111.83 million shares, accounting for 0.018% of the company, indicating he is not a key shareholder [4] - Yang Fang, the widow of Wang Linpeng, has been appointed as a non-independent director candidate and is now involved in the company's operations [4][5] Business Strategy - The company is shifting its focus back to its core retail business, emphasizing consumer engagement [6] - Despite ongoing digital transformation efforts, the traditional rental model remains a significant revenue source, although it is facing challenges [7] - In the first half of the year, product sales accounted for 56.34% of total revenue, marking a shift from traditional rental income, which fell to 40.34% [7] - The average gross margin for product sales is significantly lower at 6.16%, compared to 47.24% for rental and management income, highlighting the profitability challenges ahead [7]

Core Points - The company held its second extraordinary general meeting of shareholders in 2025 on September 1, 2025, to discuss and vote on several proposals [6][12] - The meeting was attended by 999 shareholders and representatives, representing 4,301,147,687 shares, which is 69.0720% of the total voting shares [8][9] - The meeting included proposals for adjusting the guarantee limits for the company and its subsidiaries, the re-election of a non-independent director, and amendments to the company's articles of association [12][16][18] Proposal Summaries - Proposal 1: Adjustment of the guarantee limits for 2025 was approved with 99.9212% of the votes in favor, totaling 4,297,759,555 shares [13][14] - Proposal 2: The re-election of Yang Fang as a non-independent director was approved with 99.8783% of the votes in favor, totaling 4,295,913,887 shares [16][17] - Proposal 3: Amendments to the company's articles of association were approved with 99.9536% of the votes in favor, totaling 4,299,153,955 shares [18][19] Attendance and Voting Details - The meeting combined both on-site and online voting methods, with the on-site meeting held at the company's headquarters in Beijing [5][7] - Among the attendees, 993 were small shareholders, representing 415,221,750 shares, which is 6.6680% of the total voting shares [9][10] - The legal opinion provided by Beijing Haiwen Law Firm confirmed that the meeting's procedures and voting results were in compliance with relevant laws and the company's articles of association [21]

Core Viewpoint - The company reported its 2025 interim results, showing a slight revenue increase but a significant decline in net profit, indicating challenges in maintaining profitability amidst ongoing business transformations and market conditions [1][2]. Revenue Performance - In H1 2025, the company achieved revenue of 6.44 billion yuan, a year-on-year increase of 1.5% [1][2]. - The revenue breakdown includes: - Leasing management business: 2.38 billion yuan, down 21.3% year-on-year [2]. - Franchise management business: 220 million yuan, up 3.9% year-on-year [2]. - Product sales business: 3.6 billion yuan, up 29.5% year-on-year [2]. - Q2 revenue was 3.13 billion yuan, a decrease of 2.4% year-on-year [1]. Profitability Analysis - The company reported a net profit attributable to shareholders of 330 million yuan in H1 2025, a decline of 45.5% year-on-year [1]. - The gross margin for H1 was 23.9%, down 9.5 percentage points year-on-year, influenced by rental concessions [3]. - The net profit margin was 5.1%, a decrease of 4.4 percentage points year-on-year [3]. Cost Management - The company has implemented effective cost control measures, resulting in a decrease in fixed leasing costs and improvements in management and sales expense ratios [3]. - The expense ratios for sales and management decreased by 2.2 percentage points and 1.1 percentage points, respectively [3]. Strategic Initiatives - The company is advancing its digital transformation, with a 47% year-on-year increase in paid users for its design services [2]. - The company has expanded its smart home sales, achieving over 3.49 billion yuan in sales, a 55.3% increase year-on-year [2]. - The number of stores for the smart home segment reached 164, with 14 new stores opened in H1 [2]. Future Outlook - The company forecasts net profits of 510 million yuan, 600 million yuan, and 680 million yuan for 2025, 2026, and 2027, respectively, reflecting a significant downward adjustment from previous estimates due to ongoing merchant subsidy policies [3]. - The projected growth rates for net profit are -33.5% for 2025, 16.3% for 2026, and 13.7% for 2027 [3].

证券日报网讯 9月1日晚间，居然智家发布公告称，公司2025年第二次临时股东大会于2025年9月1日召 开，审议通过了《关于调整公司及子公司2025年度担保额度内担保方式的议案》等多项议案。 （文章来源：证券日报） ...

Core Points - The company, Easyhome New Retail Group Co., Ltd., aims to protect the legal rights of shareholders and creditors while adhering to relevant laws and regulations [3][5] - The company was established as a joint-stock company in Wuhan and has undergone significant restructuring and name changes over the years [4][5] - The registered capital of the company is approximately RMB 6.23 billion [4][5] Company Overview - The company was originally known as Wuhan Zhongshang Group Co., Ltd. and was approved for establishment in 1989 [3][4] - The company was renamed to Easyhome New Retail Group Co., Ltd. following a major asset restructuring in 2019 [4] - The company is headquartered in Wuhan, China, with a registered address at No. 9 Zhongnan Road, Wuchang District [4][5] Business Objectives and Scope - The company's business philosophy focuses on home furnishing and consumer goods, emphasizing service and integrity [5][6] - The operational scope includes decoration design, retail of daily necessities, furniture, logistics, and property management, among others [6][7] Share Structure - The company issues shares in the form of stocks, with a total share capital of approximately RMB 6.23 billion [4][5] - Shares are issued based on principles of openness, fairness, and justice, ensuring equal rights for all shareholders [8][9] - The company does not provide financial assistance for the purchase of its own shares [9][10] Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends, participate in meetings, and supervise company operations [15][16] - Shareholders holding more than 5% of shares must report any pledges of their shares to the company [18][19] - The company emphasizes the integrity obligations of controlling shareholders and actual controllers [18][19] Shareholder Meetings - The company holds annual and temporary shareholder meetings, with specific procedures for convening and voting [41][42] - Shareholder meetings must be announced at least 20 days in advance for annual meetings and 15 days for temporary meetings [55][56] - Voting can be conducted through various methods, including online platforms, to facilitate shareholder participation [84][85]

Group 1 - The legal opinion letter confirms the legality of the convening and holding of the second extraordinary general meeting of shareholders for the company on September 1, 2025 [1][2] - The meeting will be conducted in a hybrid format, combining on-site and online voting, with the on-site meeting scheduled for September 1, 2025, at 14:00 [4] - The notice of the meeting was published on August 16 and August 21, 2025, in various media outlets, detailing the time, location, and agenda of the meeting [3][4] Group 2 - A total of 5 shareholders, representing 37.9567% of the total shares, attended the on-site meeting, all of whom were verified to have the legal right to participate [5] - The voting process included both on-site and online methods, with the results being combined and verified according to the company's articles of association [5] - The legal opinion concludes that all procedures, qualifications of the conveners, and voting results comply with relevant laws and the company's articles of association, deeming the results valid [5]

第一条 为维护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"）、股 东和债权人的合法权益，规范公司的组织和行为，根据《中华人民共和国公司法》（以下简称"《公 司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）和其他有关规定，制订本 章程。 第二条 公司前身为武汉中商集团股份有限公司，系依照《武汉市人民政府批转市体改委关 于企业试行股份制的报告的通知》（武政[1989]63 号）和其他有关规定成立的股份有限公司。 公司经武汉市经济体制改革委员会武体改[1989]78 号文批准，以募集方式设立，在武汉市 工商行政管理局注册登记，取得营业执照，统一社会信用代码：91420100177691433G。 居然智家新零售集团股份有限公司 章 程 国家体改委以体改生[1993]238 号文批准，同意本公司为规范化的股份制试点企业。1994 年按照《公司法》的规定，1996 年按照国家体改委和国家国资局的要求，公司进行了规范，依 法履行了重新登记手续。 2025 年 9 月 第一章 总则 第三条 公司于 1990 年 3 月 10 日经中国人民银行武汉市分行武银管[1990]20 号文批准， 首次向 ...

证券代码：000785 证券简称：居然智家 公告编号：临 2025-054 居然智家新零售集团股份有限公司 二〇二五年第二次临时股东大会会议决议公告 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。 特别提示： 1、本次股东大会增加临时提案的情况 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 8 月 16 日在信息披露网站巨潮资讯网（http://www.cninfo.com.cn）披露了《关于召开 2025 年第 二次临时股东大会的通知》（公告编号：临 2025-046）。2025 年 8 月 20 日，公司董事会收 到公司控股股东北京居然之家投资控股集团有限公司发出的《关于提请增加居然智家新零售 集团股份有限公司 2025 年第二次临时股东大会临时提案的函》，提议将第十一届董事会第 二十次会议审议通过的《关于补选公司第十一届董事会非独立董事的议案》《关于修改<公 司章程>的议案》，作为临时提案提交公司 2025 年第二次临时股东大会审议。详见公司于 2025 年 8 月 21 日在巨潮资讯网（http://www.cninf ...

北京市海问律师事务所 关于居然智家新零售集团股份有限公司 2025 年第二次临时股东大会的法律意见书 海问律师事务所 HAIWEN & PARTNERS 北京市海问律师事务所 地址：北京市朝阳区东三环中路 5 号财富金融中心 20 层（邮编 100020） Address：20/F, Fortune Financial Center, 5 Dong San Huan Central Road, Chaoyang District, Beijing 100020, China 电话(Tel): (+86 10) 8560 6888 传真(Fax)：(+86 10) 8560 6999 www.haiwen-law.com 北京 BEIJING 丨上海 SHANGHAI 丨深圳 SHENZHEN 丨香港 HONG KONG 丨成都 CHENGDU 致：居然智家新零售集团股份有限公司 根据《中华人民共和国证券法》、《中华人民共和国公司法》（以下合称"有 关法律"）及《居然智家新零售集团股份有限公司章程》（以下简称"公司章程"） 的规定，本所作为居然智家新零售集团股份有限公司（以下简称"公司"）的法 律顾问，应公司的 ...

Group 1 - The company reported a revenue of 6.445 billion yuan, a slight increase of 1.54% year-on-year, but the net profit attributable to shareholders plummeted by 45.52% to 328 million yuan due to a weak home furnishing market [1] - The decline in profit was primarily attributed to the company's decision to reduce rent and management fees for merchants, leading to a 19.65% drop in leasing business revenue [1] - Despite improvements in expense ratios through innovative cooperation models and cost control, the gross profit margin for merchandise sales decreased by 3.23 percentage points, negatively impacting overall profitability [1] Group 2 - The company's operating cash flow net amount was 569 million yuan, a significant drop of 46.82% year-on-year, reflecting reduced rental income and pressure on merchants' operations [1] - The efficiency of direct home furnishing stores significantly declined, with a year-on-year decrease in sales per unit area of 16.24% [2] - The company closed 2 direct sales stores and 10 franchise stores, while converting 5 direct stores to franchise models, resulting in a reduction in total store count [2] Group 3 - The company experienced a major event during the reporting period with the sudden passing of founder Wang Linpeng on July 27, who held 5.97% of the company's shares, which were previously frozen by judicial order [2] - The board of directors quickly appointed former Executive President Wang Ning as the new Chairman and CEO, a decision approved by the shareholders' meeting [2]