第二届监事会第十二次会议决议公告 本公司及监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、监事会会议召开情况 慕思健康睡眠股份有限公司（以下简称"公司"）第二届监事会第十二次会 议由监事会主席罗振彪先生召集，会议通知于 2025 年 10 月 23 日以邮件、微信、 电话的方式送达全体监事，并于 2025 年 10 月 29 日上午 11:00 以现场会议方式 在公司会议室召开。本次会议应出席监事 3 人，实际出席监事 3 人。会议由监事 会主席罗振彪先生主持，公司董事会秘书邓永辉先生列席本次会议。本次会议的 出席人数、召集、召开程序和议事内容均符合《中华人民共和国公司法》等相关 法律法规以及《公司章程》的相关规定，会议形成的决议合法有效。 二、监事会会议审议情况 经各位监事认真审议，会议形成了如下决议： 证券代码：001323 证券简称：慕思股份 公告编号：2025-066 慕思健康睡眠股份有限公司 特此公告。 慕思健康睡眠股份有限公司 监事会 2025 年 10 月 30 日 1、经与会监事签字并加盖监事会印章的监事会决议； 2、深圳证券交易所要求的其他文件。 ...

证券代码：001323 证券简称：慕思股份 公告编号：2025-065 慕思健康睡眠股份有限公司（以下简称"公司"）第二届董事会第十七次会 议由董事长王炳坤先生召集，会议通知于 2025 年 10 月 23 日以邮件、微信、电 话的方式送达全体董事和监事，并于 2025 年 10 月 29 日上午 10:00 以现场及通 讯会议方式在公司会议室召开。本次会议应出席董事 7 人，实际出席董事 7 人（其 中林集永先生、盛艳女士、李飞德先生以通讯表决方式出席）。会议由董事长王 炳坤先生主持，公司全体监事及高级管理人员列席了会议。本次会议的出席人数、 召集、召开程序和议事内容均符合《中华人民共和国公司法》（以下简称"《公 司法》"）等相关法律法规和《公司章程》的相关规定，会议形成的决议合法有 效。 二、董事会会议审议情况 经与会各位董事认真审议，会议形成了如下决议： （一）审议通过《关于公司〈2025 年第三季度报告〉的议案》 根据《公司法》《上市公司信息披露管理办法》《深圳证券交易所上市公司 自律监管指南第 1 号——业务办理》及《公司章程》等相关规定，为满足信息披 露的规范性要求，公司根据 2025 年第三季度 ...

慕思股份公告，第三季度营收为12.84亿元，同比增长2.79%；净利润为1.09亿元，下降26.80%。前三季 度营收为37.61亿元，同比下降3.01%；净利润为4.67亿元，同比下降10.61%。 ...

慕思健康睡眠股份有限公司 2025 年第三季度报告 证券代码：001323 证券简称：慕思股份 公告编号：2025-067 慕思健康睡眠股份有限公司 2025 年第三季度报告 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） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、 误导性陈述或重大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 3.第三季度财务会计报告是否经过审计 □是 否 1 慕思健康睡眠股份有限公司 2025 年第三季度报告 一、主要财务数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 1,283,513,922.80 | 2.7 ...

Group 1 - The home industry is undergoing a digital transformation from "functional satisfaction" to "emotional resonance" due to rising consumer demands for both functionality and emotional value in home spaces [1] - Mousse Group's brands "Kaliya" and "Xianmu Home" launched the industry's first "Sofa Algorithm Adaptation System" at their autumn dealer conference, marking a significant innovation in enhancing consumer comfort experiences [1][2] Group 2 - The Sofa Algorithm Adaptation System integrates multiple dimensions including demand insights, home design, product design, ergonomics, showroom flow, consumer experience, and algorithm applications, featuring four intelligent modules [2] - The algorithm prediction module utilizes nationwide sales data to accurately forecast regional product demand trends, while the aesthetic analysis module combines insights from Mousse's design team and global color institutions [2] - The system ensures optimal seating comfort through a combination of Industrial 4.0 flexible supply chains and craftsmanship, alongside an ergonomics module that provides precise support for various postures [2] Group 3 - To validate the system's effectiveness, a "body sensation experiment" was conducted in collaboration with the Ergonomics Application Association, evaluating sofa products across eight dimensions including comfort, fabric feel, cleanliness, noise level, smart features, and design [3] - The first products equipped with the system have been launched, including the Xianmu Home RMA1-100 sofa inspired by premium chocolate and the Kaliya RIA2-830 "Ocean Dew" sofa inspired by Mediterranean aesthetics, both achieving top sales at the order meeting [3] - The innovation exemplifies a deep dialogue between digital technology and lifestyle aesthetics, providing a replicable model for high-quality development in the home industry through data-driven precision adaptation [3]

Core Insights - The article highlights the launch of the "Dream 100 Points" charity initiative by Mousse in Hubei, aimed at supporting rural education and promoting children's health through sports and sleep quality [1][3][12] Group 1: Charity Initiative Overview - Mousse has been actively involved in charity since 2014, impacting over 20,000 children across more than 100 rural schools in China [3] - The recent event included the donation of 165 sets of health sleep materials and the organization of professional football classes and friendly matches [3][4] - The initiative received strong support from local government and various social sectors, emphasizing the collaborative effort in enhancing rural education [3][4] Group 2: Collaboration with Yao Foundation - Mousse partnered with Yao Foundation to provide sports resources and enhance the physical education infrastructure in rural schools [3][4] - Yao Foundation has equipped over 40 rural schools in the region with sports equipment and has sent volunteer coaches to guide sports activities, benefiting over 70,000 youth [4] - The collaboration aims to connect quality sleep with children's overall development through a new framework of "charity + sports + education" [5][12] Group 3: Event Highlights - The event featured interactive activities with Mousse's charity ambassador, including a football demonstration and a friendly match, fostering teamwork and excitement among children [7][9] - A special commemorative football was presented by Yao Foundation's Secretary-General as a token of appreciation for Mousse's commitment to charity [5][11] - The school principal expressed hope that the warmth from the initiative would motivate students to excel academically and continue the cycle of giving [10]

Core Insights - The sixth Super Mofun Festival concluded with the "Mofun Dream Record" event at the Mofun Super Factory in Dongguan, attended by over 300 users from home and abroad, showcasing the brand's commitment to sleep culture [1][3] Group 1: Event Highlights - The event featured an immersive experience themed around "Mofun Dream Record," emphasizing the company's mission to improve sleep quality over its 21-year history [3][11] - Attendees participated in interactive activities that explored the "Six Senses Sleep Culture," enhancing the connection between the brand and its users [5][7] - Mofun's chairman, Wang Bingkun, personally engaged in a sound therapy session during the event, demonstrating the company's dedication to sleep wellness [5][7] Group 2: Brand Engagement - The Super Mofun Festival serves as a crucial IP activity for Mofun, creating a unique user connection system through various formats, including concerts and celebrity interactions [7][9] - Celebrity ambassador Xilin Naiyi Gao shared her sleep insights with fans, fostering closer interactions and enhancing brand loyalty [9] - The festival has become a platform for showcasing the evolution of the Chinese sleep industry from product output to lifestyle advocacy [11]

Investment Rating - The report maintains an "Overweight" rating for the industry [4] Core Views - The report emphasizes the importance of valuation switching logic in the new consumption sector, highlighting stable operational performance in the sports brand sector for Q3 [6][4] - It suggests a focus on high-growth tracks in new consumption and the valuation switching logic within the sector, particularly in the collectible toy segment [6][4] - The report identifies several companies with strong growth potential and suggests monitoring their performance closely [6][4] Summary by Sections Industry Overview - The industry consists of 175 listed companies with a total market value of 10,672.79 billion and a circulating market value of 8,623.31 billion [2] Market Performance - The Shanghai Composite Index decreased by 1.47%, while the Shenzhen Component Index fell by 4.99% during the week of October 13-17, 2025 [6][11] - The light industry manufacturing index dropped by 2.22%, ranking 13th among 28 Shenwan industries, while the textile and apparel index decreased by 0.31%, ranking 5th [6][11] Key Company Insights - Companies such as Bubble Mart are expected to release Q3 operational data, with new product launches anticipated to drive performance in Q4 [6] - 361 Degrees reported a stable performance with a 10% increase in offline and children's clothing sales, and a 20% increase in e-commerce sales [6] - Anta Sports, Li Ning, and other functional apparel brands are highlighted for their growth potential [6] Investment Opportunities - The report suggests focusing on the acceleration of the Chinese consumption supply chain going overseas, particularly in non-woven fabric manufacturing [6][7] - Companies like Yanjiang Co. are recommended for their advanced production techniques and global supply chain capabilities [7] - The pet supplies sector is also highlighted, with companies like Yuanfei Pet expected to benefit from growth in both OEM and OBM businesses [6][7] Sector Recommendations - The report recommends monitoring companies in the home furnishing sector, such as Xilinmen and Gujia Home, for potential recovery in performance and valuation [6] - In the paper industry, Sun Paper is recommended due to its integrated advantages and expected improvement in profitability [6][7] - The textile manufacturing sector suggests a focus on companies like Jingyuan International for their market share growth potential [6][7]

Core Insights - As of October 17, a total of 84 stocks in the Shanghai and Shenzhen markets have experienced net buying from major funds for five consecutive days or more [1] - The stocks with the longest streak of net buying are Kaisheng Technology and Jianyou Co., both of which have seen net buying for 10 consecutive trading days [1] - Other notable stocks with significant net buying days include Wuxi Zhenhua, Jintou Chengkai, Zhucheng Technology, Lianyu Co., Yongmaotai, Yan'ao Co., Aohua Endoscopy, and Kesi Technology [1]

Investment Rating - The report maintains a positive outlook on the light industry and paper sector for Q3 2025, indicating a favorable investment rating [1]. Core Insights - The globalization of supply chains is accelerating changes in the packaging landscape, with leading companies increasing their market share and improving profitability [2]. - Q3 2025 is expected to see a divergence in performance among companies, influenced by supply chain advantages and growth potential [2]. - The report highlights specific companies with projected revenue and profit growth, indicating a robust performance in certain segments despite challenges in others [5][6]. Summary by Sections Packaging and Printing - Companies like Yutong Technology and Baosteel Packaging are expected to see slight revenue growth, while others like Meiyingsen may face revenue pressure but maintain profit growth [2][3]. - The overall packaging sector is benefiting from the global supply chain shift, with many companies reporting stable or improving profit margins [2][3]. Export Sector - Companies such as Jiangxin Home and Qianjiang Motorcycle are projected to experience significant revenue growth, with estimates of over 30% for Q3 2025 [6][7]. - The report notes that the export sector is showing resilience, with several companies adapting well to changing market conditions [6][7]. Two-Wheel and Motorcycle Sector - Companies like Aima Technology and Spring Wind Power are expected to report revenue growth of over 10% in Q3 2025, driven by seasonal demand and market adjustments [10][11]. - The sector is experiencing a mix of growth and challenges, with some companies facing declines due to regulatory changes [10][11]. Home Furnishing Sector - The report indicates that companies like Oppein Home and Kuka Home are facing revenue declines, while others like Joy Home are expected to show resilience with slight growth [12][14]. - The home furnishing market is under pressure from policy changes, but some segments are performing better than others [12][14]. Light Consumer Goods - Companies such as Dongkang Oral and Jeya are projected to see significant revenue and profit growth, with estimates indicating over 60% growth for Jeya in Q3 2025 [13][16]. - The light consumer goods sector is showing a positive trend, with several companies benefiting from strong demand and effective marketing strategies [13][16]. Paper Industry - The report anticipates a mixed performance in the paper sector, with some companies like Sun Paper expected to see profit declines due to price pressures, while others may experience stability [18][19]. - The paper industry is facing challenges from raw material price fluctuations, but certain segments are expected to maintain profitability [18][19].