证券代码：000910 证券简称：大亚圣象 公告编号：2025—032 大亚圣象家居股份有限公司 关于参与认购投资基金份额的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、对外投资概述 大亚圣象家居股份有限公司（以下简称"公司"）与国龙私募基金管理（上 海）有限公司、苏州康润星投资有限公司、吕惠民等 14 名自然人共同签署了《嘉 兴翼龙股权投资合伙企业（有限合伙）合伙协议》，公司作为有限合伙人以自有 资金人民币 1,500 万元出资认购嘉兴翼龙股权投资合伙企业（有限合伙）（以下 简称"投资基金"）份额，出资占比 28.30189%。具体内容详见公司于 2025 年 7 月 17 日在《证券时报》、《中国证券报》和巨潮资讯网（www.cninfo.com.cn） 上披露的《关于参与认购投资基金份额的公告》（公告编号：2025-021）。 投资基金已募集完毕，其中公司实缴出资人民币 1,500 万元。具体内容详见 公司于 2025 年 8 月 6 日在《证券时报》、《中国证券报》和巨潮资讯网 （www.cninfo.com.cn）上披露的《关于参与认 ...

Market Overview - The home goods sector experienced a decline of 0.29% on September 10, with Zhongyuan Home leading the drop [1] - The Shanghai Composite Index closed at 3812.22, up 0.13%, while the Shenzhen Component Index closed at 12557.68, up 0.38% [1] Stock Performance - Notable gainers included: - N Wenfenda: closed at 74.77, up 170.03% with a trading volume of 137,200 shares and a turnover of 1.11 billion yuan [1] - Bingtai Turf: closed at 36.07, up 10.00% with a trading volume of 83,000 shares and a turnover of 290 million yuan [1] - Filinger: closed at 29.18, up 6.30% with a trading volume of 84,100 shares and a turnover of 238 million yuan [1] - Major decliners included: - Zhongyuan Home: closed at 15.36, down 10.02% with a trading volume of 179,300 shares and a turnover of 278 million yuan [2] - Songgu Technology: closed at 28.99, down 7.38% with a trading volume of 80,800 shares and a turnover of 243 million yuan [2] - Yuma Technology: closed at 17.40, down 6.10% with a trading volume of 291,000 shares and a turnover of 509 million yuan [2] Capital Flow - The home goods sector saw a net inflow of 108 million yuan from institutional investors, while retail investors experienced a net outflow of 119 million yuan [2][3] - Key stocks with significant capital flow included: - N Wenfenda: net inflow of 282.1 million yuan from institutional investors, with a net outflow of 35.25 million yuan from retail investors [3] - Gongchuang Turf: net inflow of 57.01 million yuan from institutional investors, with a net outflow of 30.83 million yuan from retail investors [3] - Opai Home: net inflow of 22.03 million yuan from institutional investors, with a net outflow of 9.07 million yuan from retail investors [3]

Group 1 - The company Dayu Shengxiang announced on September 4 that it has invested 15 million RMB of its own funds to acquire a 28.30189% stake in Jiaxing Yilong Equity Investment Partnership (Limited Partnership) [2] - The fund aims to invest in Qiteng Robotics Co., Ltd. through equity investment, while the company will not participate in the specific operations of the investment [2]

Group 1 - The company has invested 15 million RMB to acquire a 28.30189% stake in Jiaxing Yilong Equity Investment Partnership, which will invest in Qiteng Robotics [1] - The management views the collaboration potential between Qiteng's robotics technology and the existing production bases of Dayasengxiang, particularly in smart factories and Industry 4.0 transformation [1] - The investment is seen as a significant step towards accelerating the company's strategy of "production intelligence" [1] Group 2 - There is a consideration for deep integration of robotics technology into the industry chain to establish a new benchmark for "dark factories" in the home manufacturing sector [1]

Industry Overview - Ecological board is an important decorative engineered wood product, known for its good aesthetics, resistance to deformation, high strength, good toughness, and wood-like texture, widely used in interior decoration and renovation [1][2] - The ecological board originated in Europe and has gradually replaced traditional boards due to its environmental performance and advanced technology [1][7] - The ecological board market in China is projected to reach a scale of 185 billion yuan in 2024 [1][7] Market Trends - The share of environmentally friendly ecological board products is expected to increase to 48% during 2024, with ENF-grade products accounting for 43%-48% [1][7] - The largest ecological board base in China is located in Liuzhou, Guangxi, which produces over 20% of the national output of fine wood boards and ecological boards [1][9] Competitive Landscape - The top ten brands in the ecological board industry have increased their market share from 35% in 2020 to 48% in 2024, driven by leading companies like Penghong Wood Industry, Tubao, and Fuxiang Wood Industry enhancing R&D and product innovation [1][13] - The ecological board industry has a relatively low technical barrier, allowing many small and medium-sized enterprises to enter the market, resulting in a diverse range of competitors [1][12] Future Development - The ecological board industry is expected to evolve towards multi-functional products, strengthened technical barriers, and increased global competition, driven by rising consumer health demands and stricter environmental policies [1][14]

Core Viewpoint - Daya Saintxiang (000910) reported disappointing financial results for the first half of 2025, with significant declines in revenue and net profit compared to the previous year [1] Financial Performance - Total revenue for the first half of 2025 was 2.096 billion yuan, a decrease of 11.84% year-on-year [1] - Net profit attributable to shareholders was 35.6576 million yuan, down 43.89% year-on-year [1] - In Q2 2025, total revenue was 1.308 billion yuan, a decline of 9.71% year-on-year, while net profit increased by 5.9% to 105 million yuan [1] - The gross profit margin improved to 26.86%, an increase of 3.75% year-on-year, but the net profit margin fell to 0.92%, a decrease of 61.85% [1] - Total expenses (selling, administrative, and financial) amounted to 511 million yuan, accounting for 24.38% of revenue, an increase of 16.07% year-on-year [1] Asset and Liability Management - Accounts receivable were significant, with accounts receivable to net profit ratio reaching 1099.5% [1][5] - Cash assets were reported to be healthy, indicating good liquidity [4] Return on Investment - The company's Return on Invested Capital (ROIC) for the previous year was 1.61%, indicating weak capital returns [3] - Historical data shows a median ROIC of 10.92% over the past decade, suggesting average investment returns [3] Business Model and Drivers - The company's performance relies heavily on research and marketing efforts, necessitating a deeper analysis of the underlying drivers [4]

Group 1 - The core viewpoint of the article is that Daya Saintxiang (000910.SZ) reported its semi-annual results for 2025, highlighting significant institutional investor holdings [1] - As of August 27, 2025, three institutional investors disclosed their holdings in Daya Saintxiang A-shares, totaling 271 million shares, which represents 49.44% of the company's total share capital [1] - The institutional investors include Daya Technology Group Co., Ltd., Beijing Taide Sheng Private Fund Management Co., Ltd. - Taide Sheng Investment Delai No. 3 Private Securities Investment Fund, and China Pacific Life Insurance Co., Ltd. - Traditional - Ordinary Insurance Products [1]

Core Viewpoint - Daya Saintxiang (000910.SZ) reported a decline in both revenue and net profit for the first half of 2025, indicating potential challenges in its financial performance [1] Financial Performance - The company achieved operating revenue of 2.096 billion yuan, a year-on-year decrease of 11.84% [1] - The net profit attributable to shareholders of the listed company was 35.6576 million yuan, down 43.89% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 29.3458 million yuan, reflecting a 46.85% year-on-year decline [1] - Basic earnings per share stood at 0.07 yuan [1]

Core Viewpoint - Daya Saintxiang announced the approval of its 2025 semi-annual report and several other proposals during the eighth meeting of its ninth board of directors [2] Group 1 - The company held its ninth board of directors' eighth meeting on August 27 [2] - The meeting resulted in the approval of the full text and summary of the 2025 semi-annual report [2]

Core Viewpoint - The company, Daya Saint Elephant, announced that it will provide a joint liability guarantee for its wholly-owned subsidiary, Saint Elephant Group Co., Ltd., for a financing amount of 100 million RMB from China Merchants Bank, Zhenjiang Branch [1] Summary by Relevant Sections - **Company Actions** - The company will hold its ninth board meeting on August 26, 2025, to approve the guarantee proposal [1] - The total external guarantee balance for the company and its controlling subsidiaries is 150 million RMB, which accounts for 2.25% of the company's most recent audited net assets [1]