Group 1 - The company announced the holding of its second extraordinary general meeting of shareholders for the year 2025 on August 13, 2025 [2] - The meeting approved the proposal regarding the transfer of the capital reserve to increase the share capital for the year 2024 [2]

之 国浩律师（深圳）事务所 关于慕思健康睡眠股份有限公司 2025 年第二次临时股东大会 北京│上海│深圳│杭州│广州│昆明│天津│成都│宁波│福州│西安│南京│南宁│济南│重庆│苏州│长沙│太原│武汉│贵阳│乌鲁木齐│郑州│石家庄│合肥│ 海南│青岛│南昌│大连│银川│拉孜│香港│巴黎│马德里│斯德哥尔摩│纽约│马来西亚│柬埔寨 BEIJING│SHANGHAI│SHENZHEN│HANGZHOU│GUANGZHOU│KUNMING│TIANJIN│CHENGDU│NINGBO│FUZHOU│XI'AN│NANJING│NANNING│JINAN│CHONGQING│SUZHOU│ CHANGSHA│AIYUAN│WUHAN│GUIYANG│URUMQI│ZHENGZHOU│SHIJIAZHUANG│HEFEI│HAINAN│QINGDAO│NANCHANG│DALIAN│YINCHUAN│LHATSE│HONGKONG│PARIS│ MADRID│STOCKHOLM│NEWYORK│MALAYSIA│CAMBODIA 致：慕思健康睡眠股份有限公司 法律意见书 GLG/SZ/A4039/FY/2025-99 ...

2025 年第二次临时股东大会决议公告 证券代码：001323 证券简称：慕思股份 公告编号：2025-050 慕思健康睡眠股份有限公司 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： 本次股东大会未出现否决提案的情形。 本次股东大会不涉及变更以往股东大会已通过的决议。 一、会议召开和出席情况 （一） 股东大会召开的时间 1. 现场会议时间：2025 年 8 月 13 日（星期三）14:50 2. 网络投票时间：2025 年 8 月 13 日 其中，采用深圳证券交易所网络投票系统，通过交易系统进行网络投票的具 体时间为 2025 年 8 月 13 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00； 通过互联网投票系统（http://wltp.cninfo.com.cn）投票的具体时间为 2025 年 8 月 13 日 9:15-15:00 期间的任意时间。 二、议案审议表决情况 本次股东大会采取现场表决和网络投票相结合的表决方式审议通过了如下议 案： （二） 现场会议召开地点：东莞市厚街镇厚街科技大道 1 号公 ...

Company Overview - Mousse Co., Ltd. is primarily engaged in the research, development, production, and sales of health sleep systems, including mattresses and bed frames [1] - The company operates within the home light industry sector and has a business presence across multiple provinces and cities in China [1] Recent Developments - As of August 12, 2025, Mousse's stock price closed at 32.05 yuan, reflecting a decrease of 0.87% from the previous trading day [1] - The company announced a temporary shareholders' meeting scheduled for August 13 to review the proposal for capital reserve conversion into share capital for the fiscal year 2024 [1] - Mousse will launch its 17th Global Sleep Culture Journey on August 18, with its AI smart mattress set to be tested in extreme cold conditions aboard the polar research icebreaker "Xuelong" [1] Market Activity - On August 12, the main funds experienced a net outflow of 1.2007 million yuan, with a cumulative net outflow of 5.0437 million yuan over the past five trading days [2]

Market Performance - The home goods sector increased by 0.5% on August 12, with Qisheng Technology leading the gains [1] - The Shanghai Composite Index closed at 3665.92, up 0.5%, while the Shenzhen Component Index closed at 11351.63, up 0.53% [1] Top Gainers - Qisheng Technology (603610) closed at 14.40, up 10.01% with a trading volume of 513,300 shares and a transaction value of 724 million [1] - Jiangxin Home (301061) closed at 104.00, up 4.93% with a trading volume of 16,600 shares and a transaction value of 171 million [1] - Tianan New Materials (603725) closed at 10.79, up 4.76% with a trading volume of 233,700 shares and a transaction value of 252 million [1] Notable Decliners - Meng Tian Home (603216) closed at 14.22, down 4.37% with a trading volume of 202,800 shares and a transaction value of 300 million [2] - Yuma Technology (300993) closed at 18.39, down 3.67% with a trading volume of 352,600 shares and a transaction value of 653 million [2] - Songyun Technology (603992) closed at 29.11, down 2.54% with a trading volume of 101,000 shares and a transaction value of 293 million [2] Capital Flow - The home goods sector saw a net inflow of 2.9085 million from institutional investors, while retail investors experienced a net outflow of 5.96732 million [2] - Speculative funds had a net inflow of 56.7647 million into the sector [2]

Investment Rating - The report indicates a positive investment outlook for the IP toy sector, paper industry, and home furnishing sector, highlighting specific companies to watch [2][4][17]. Core Insights - The IP toy market continues to thrive, with Sanrio's FY26Q1 performance exceeding expectations, driven by strong IP character sales, particularly Hello Kitty, across various regions [2][4]. - The paper industry is entering a peak demand season in Q3, with expectations for price stabilization and potential upward movement due to supply-side improvements [14][15]. - The home furnishing sector is poised for recovery as Beijing relaxes housing purchase restrictions, which may enhance valuation and stimulate demand [17][19]. Summary by Sections 1. IP Toy Sector - Sanrio's FY26Q1 revenue reached 431 billion JPY, a 49% year-on-year increase, with operating profit up 88% and net profit up 38%, attributed to strong IP character performance [2][4]. - Companies such as Morning Glory, Chuangyuan, Chaohongji, Guobo, and Blucor are highlighted for their innovative IP collaborations and product launches [2][4][6][9][10]. 2. Paper Industry - The report notes that Q3 demand is gradually increasing, with expectations for paper prices to stabilize and potentially rise, supported by reduced production from overseas suppliers [14][15]. - Key companies to monitor include Sun Paper, Nine Dragons, and Bohui Paper, as they are positioned to benefit from the improving supply-demand dynamics [14][15]. 3. Home Furnishing Sector - The easing of purchase restrictions in Beijing is expected to boost the home furnishing sector, with companies like Sophia, Oppein, Gujia, and others identified as having strong dividend safety margins [17][19][23]. - The report emphasizes the potential for valuation recovery in the home furnishing sector, driven by improved consumer confidence and demand from the secondary housing market [19][23].

Core Viewpoint - Mousse Co. is launching its 17th Global Sleep Culture Journey, which will take place on August 18, with the destination set for Antarctica, marking a significant milestone in promoting Chinese sleep standards globally [1][2] Group 1: Marketing Strategy - Mousse has initiated a comprehensive marketing campaign themed "Buy Mousse, Accompany You to Fulfill Your Antarctic Dream," utilizing both online and offline channels since July [1] - The online strategy includes rapid promotion through dialect-themed advertisements, while the offline approach features a touring vehicle showcasing glacier models in popular urban areas [1] - Mousse has implemented "Glacier Blue" light shows in landmark cities such as Shanghai, Guangzhou, and Chengdu, using projection technology to elevate its sleep culture message into public art [1] Group 2: Brand Collaboration and Innovation - The company has released a creative short film titled "Landmark Summer Guide," featuring dramatized visuals that highlight collaborations with the Shanghai Polar Research Center and MIT, as well as support from Italian Technogel [1] - This initiative signifies Mousse's transition from "learning technology" to "outputting standards," enhancing its brand image and technological credibility [1] Group 3: Industry Impact and Future Outlook - The Global Sleep Culture Journey, initiated in 2009, aims to promote healthy sleep culture through international experiences, previously covering Europe and Australia [2] - The upcoming Antarctic expedition will test the adaptability of AI mattresses in extreme conditions, creating a strong brand memory anchor [2] - Mousse's ongoing marketing activities are expected to increase brand awareness and consumer engagement, laying a foundation for future market expansion and solidifying its leadership position in the sleep health industry [2]

Investment Rating - The report maintains an "Outperform" rating for the industry [3] Core Insights - Suzano announced a price increase of $20 per ton for commodity pulp in the Asian market for August, indicating a potential recovery in pulp and paper prices from current cyclical lows [2][4] - The report highlights the ongoing price adjustments in the paper industry, with various paper types experiencing different price movements, suggesting a recovery trend driven by supply-demand dynamics [4][50] - The report emphasizes the importance of policy catalysts in the home furnishing sector, particularly in light of recent housing policy optimizations in Beijing [4][31] Summary by Sections Home Furnishing - Recent policy changes in Beijing allow families to purchase multiple properties outside the city center, which is expected to stimulate the housing market [4][31] - Major home furnishing companies are currently valued at historical lows, presenting potential investment opportunities as market sentiment improves [4][31] Paper Industry - As of August 8, 2025, various paper prices are reported: double glue paper at 4993.75 CNY/ton (unchanged), copper plate paper at 5320 CNY/ton (unchanged), white card paper at 3955 CNY/ton (down 35 CNY/ton), box board paper at 3463.4 CNY/ton (up 12.8 CNY/ton), and corrugated paper at 2582.5 CNY/ton (up 46.25 CNY/ton) [4][50] - The report notes that the current pulp and paper prices are at cyclical lows, with expectations for a rebound due to supply-demand imbalances [4][50] Consumer Goods - The report discusses the launch of new health-focused products in the personal care sector, indicating a shift towards higher quality and compliance with health standards [4][6] - The collaboration between Morning Glory stationery and popular anime IPs is expected to enhance brand visibility and sales [4][6] Export Chain - In July, China's total exports increased by 7.2% year-on-year, with significant growth in exports to ASEAN countries [4][6] - The report suggests that the ongoing shift of production capacity to Southeast Asia may enhance the long-term competitiveness of companies with overseas supply chain layouts [4][6] Packaging - New regulations in Shanghai aimed at reducing single-use plastics are expected to drive demand for recyclable and biodegradable packaging solutions [4][6] - The report recommends companies involved in eco-friendly packaging solutions as potential investment opportunities [4][6] New Tobacco Products - The introduction of new electronic cigarette products in the UK is anticipated to boost market share for refillable devices [4][6] - The report highlights the potential for growth in the new tobacco sector, particularly for companies with strong partnerships and product offerings [4][6] Textile and Apparel - The textile and apparel sector has shown resilience, with notable increases in revenue for key players despite some challenges [4][6] - The report identifies leading companies in the apparel sector as potential investment opportunities based on their performance [4][6]

Group 1 - The stock price of Mousse Co., Ltd. closed at 32.30 yuan on August 8, 2025, with an increase of 0.25 yuan, representing a rise of 0.78% [1] - The trading volume on that day was 5,576 hands, with a transaction amount of 18 million yuan and a turnover rate of 0.68% [1] Group 2 - Mousse Co., Ltd. is primarily engaged in the research, production, and sales of health sleep systems, including mattresses, bed frames, and bedding [1] - The company has established one national CNAS laboratory and three provincial-level research and development platforms, accumulating a total of 3,589 intellectual property rights [1] Group 3 - Recent developments include the implementation of the national standard for "Smart Beds" on August 1, which sets regulations on product safety and intelligent performance [2] - On August 7, the company announced plans to resolve equity distribution issues caused by share repurchase and cancellation through a capital reserve transfer, expected to be completed by August 21 [2] - The total guarantee amount for the company's wholly-owned subsidiary is 1.68 billion yuan, accounting for 37.19% of the audited net assets for the year 2024 [2] Group 4 - On August 8, the net inflow of main funds was 273,000 yuan, while there was a net outflow of 6.9931 million yuan over the past five days [2]

Core Insights - The report highlights that in 2024, the total salary of A-share listed company secretaries reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - The report indicates that 1,144 secretaries earned over 1 million yuan, accounting for more than 21% of the total [1] Salary Overview - The average annual salary for secretaries in the lighting equipment industry is 747,500 yuan, reflecting a year-on-year increase of 41.76% [9] - The median salary is 708,100 yuan, with a significant salary disparity where the highest and lowest salaries differ by 1.526 million yuan [9] - Two secretaries earn over 1 million yuan, and there are no secretaries with salaries below 200,000 yuan, excluding new appointees [9] Demographics - The average age of secretaries in the lighting equipment sector is 43.13 years, with the largest age group (30-40 years) making up 40% [1][3] - Gender distribution shows that males account for 66.7% and females for 33.3% of the secretaries [1] Tenure and Experience - The majority of secretaries (40%) have a tenure of 3-5 years, followed by those with 5-10 years (33.3%) [3] - The longest-serving secretary is Zhou Xuemei from Greer, who has been in the role for over 11 years [3] Educational Background - Among the secretaries, 50% hold a bachelor's degree, 35.7% have a master's degree, and 14.3% have an associate degree [5] - The average salary varies by education level, with master's degree holders earning an average of 854,600 yuan [9] Performance and Engagement - 46.7% of secretaries conducted fewer than 10 investor meetings annually, while 26.7% engaged in 100 to 500 meetings [7] - The highest number of meetings was conducted by Huang Jinyuan from Minexplosion Optoelectronics, with 378 meetings in a year [7] Notable Cases - Chen Yan from Ocean King has the highest salary in the industry at 1.8197 million yuan, a significant increase from 203,000 yuan in 2023 [10] - The lowest salary is reported for Zhou Xuemei from Greer, at 293,700 yuan, a decrease of 42.23% from the previous year [10] - One secretary faced regulatory action due to non-compliance issues in company operations [10]