Core Viewpoint - The company, Mousse Co., Ltd. (001323), is a leading player in the smart sleep industry, having developed the national standard for "smart mattresses" and leveraging extensive ergonomic data to enhance sleep quality through innovative algorithms [1] Group 1: Company Innovations - Mousse has pioneered the "tide algorithm" in the industry, integrating ergonomics, sleep environment science, and sleep medicine into various AI-driven algorithms for sleep adaptation, monitoring, and analysis [1] - The company has achieved significant improvements in the efficiency and accuracy of sleep data collection, processing, analysis, and decision-making through continuous experimentation and model optimization [1] Group 2: Product Development - The AI mattress T11+ is set to be launched in March 2025, featuring capabilities such as active body contouring, dual-zone adjustment, sleep state monitoring, and multi-mode adjustment of the frame [1] - The product has successfully completed the "smart level assessment test" and is rated L4 according to the GB/T46260—2025 standard for furniture smart level assessment and labeling [1] Group 3: Future Outlook - The company aims to drive the iterative upgrade of smart products through technological innovation, with a mission to enhance people's sleep quality [1]

2025年12月5日——在全国家具行业标准化工作会暨全国家具标准化技术委员会第四届二次会议上，慕 思再次被授予"2025年度全国家具标准化先进集体"称号，实现了自2011年以来第八次获得该荣誉。同 场，慕思实验室主任王丽平获评"2025年度全国家具标准化先进工作者"。这一双重荣誉不仅彰显了行业 对慕思标准化工作的高度认可，更确立了其在引领家具产业高质量发展中的核心地位，而这份荣誉的背 后，也是慕思多年来在标准化领域的持续深耕与实践创新。 当前，家具行业正处于高端化、智能化、绿色化转型的关键期，标准的建设尤为重要。慕思此次斩获标 准化先进集体称号，不仅是对其过往在标准体系建设、技术规范引领等方面所作贡献的权威肯定，更标 志着其在推动行业向"高标准、高质量、高附加值"方向发展上迈出了坚实的步伐。 作为行业技术标杆，慕思通过参与起草制定《智能床垫》国家标准等关键标准，为行业确立了清晰的技 术门槛与发展路径，有效引导市场从价格竞争转向价值竞争。同时，慕思将标准融入产品研发、智能制 造与质量管控全过程的实践，为行业提供了"标准引领创新、创新提升品质"的成功范本。在绿色转型方 面，慕思对环保材料与工艺标准的积极探索，也切 ...

证券代码：001323 证券简称：慕思股份 公告编号：2025-074 慕思健康睡眠股份有限公司 关于实际控制人部分股份补充质押的公告 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。 慕思健康睡眠股份有限公司（以下简称"本公司"或"公司"）于近日接到 公司实际控制人林集永先生的通知，获悉其所持有本公司的部分股份办理了补充 质押业务，具体事项如下： 一、股东股份补充质押的基本情况 | 股东名 称 | 是否为 控股股 东或第 一大股 东及其 一致行 | 本次质押 数量（股） | 占其 所持 股份 比例 （%） | 占公 司总 股本 比例 （%） | 是否为 限售股 （如是， 注明限 售类型） | 是否 为补 充质 押 | 质押起始日 | 质押到期日 | 质权人 | 质押用途 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 动人 | | | | | | | | | | | 林集永 | 是 | 350,000 | 0.44 | 0.08 | 是，首发 前限售 | 否 | ...

慕思股份公告，公司实际控制人林集永先生于近日办理了部分股份补充质押业务。本次质押股份共计81 万股，占其所持股份比例为1.01%，占公司总股本比例为0.19%。质押开始日为2025年12月15日，质押 用途为补充质押。截至公告披露日，林集永及其一致行动人累计质押股份为3172.2万股，占公司总股本 比例为7.29%。 ...

Summary of Key Points from Conference Call Industry Overview - The conference call primarily discusses the home furnishing and light industry sectors, highlighting the impact of real estate downturns on furniture manufacturing and related businesses [1][5][6]. Core Insights and Arguments - **Revenue and Profit Decline**: In the first three quarters of 2025, the furniture manufacturing industry experienced a revenue decline of 6.7% and a profit drop of 19.1%, with 30% of companies reporting losses [1][5]. - **Government Support**: The Chinese government has allocated 150 billion yuan in 2024 for consumer goods replacement programs, with retail sales in the home furnishing sector expected to grow by 3.6% [1][5][6]. - **Market Adaptation**: Leading home furnishing companies are expanding their product offerings and services, focusing on comprehensive design and one-stop services, while also increasing their international presence [1][6]. - **Smart Mattress Market Growth**: The smart mattress market is projected to reach nearly 60 billion yuan by 2030, with a compound annual growth rate (CAGR) of 15% [1][7]. - **Packaging Industry Dynamics**: The packaging sector is facing challenges due to raw material cost fluctuations and competition, but consolidation efforts are expected to improve profitability [3][8]. Additional Important Content - **Toy Market Growth**: The toy market in China is experiencing growth, driven by IP culture, with retail sales of licensed products reaching 140.4 billion yuan in 2023, a 0.8% increase year-on-year [3][11]. - **Durable Consumer Goods Export Outlook**: The export chain for durable consumer goods is expected to perform well due to recovering demand and depleted overseas inventories, with key companies to watch including Yongxin Co., Hengli Co., and Songlin Technology [3][14]. - **Market Performance Comparison**: From the beginning of 2025 to the present, the light manufacturing sector has seen a performance increase of 16.83%, closely mirroring the 16.85% increase of the CSI 300 index [4][13]. Investment Recommendations - **Focus on Leading Companies**: Investment recommendations include leading custom home furnishing companies such as Oppein Home, Sophia, and Zhihong Home, as well as soft furniture companies like Kuka Home and Mousse [3][13]. - **Emerging Opportunities**: Companies with strong international growth potential in the toy industry, such as Pop Mart and Blukoo, are highlighted for their robust overseas performance [3][12].

（文章来源：证券日报） 证券日报网讯 12月5日，慕思股份在互动平台回答投资者提问时表示，公司会在定期报告中披露对应时 点的股东人数信息。 ...

慕思股份于2022年6月23日在深圳证券交易所主板上市，发行的股票数量为4,001.00万股，发行价格 为38.93元/股，保荐机构为招商证券股份有限公司，保荐代表人为邓永辉、康自强。 慕思股份首次公开发行股票的发行费用约8,044.55万元（各项费用均为不含税金额），其中，保荐 及承销费用5,700.00万元。 （责任编辑：田云绯） 中国经济网北京12月4日讯 慕思股份(001323.SZ)今日收报27.06元，跌幅2.66%，总市值117.73亿 元。该股目前处于破发状态。 上市次日即2022年6月24日，慕思股份盘中最高价报61.67元，为该股上市以来最高价。 慕思股份首次公开发行股票募集资金总额为155,758.93万元，扣除发行费用8,044.55万元，募集资金 净额为147,714.38万元。慕思股份于2022年6月13日披露的招股说明书显示，该公司原拟募集资金 147,714.38万元，用于华东健康寝具生产线建设项目、数字化营销项目、健康睡眠技术研究中心建设项 目。 ...

Core Insights - The article emphasizes the importance of innovative consumer products that go beyond mere functionality, focusing on user experience and addressing pain points in daily life [1][2] - The 2025 Annual Focus Product Plan aims to showcase a diverse range of products across various categories, highlighting their role in enhancing quality of life and driving industry innovation [1][2] Group 1: Consumer Electronics - The iPhone AIR and Honor Magic8 series are highlighted as key mobile products, showcasing advancements in technology and user experience [3][15] - The Honor Magic8 series features a self-evolving AI system and impressive battery life, appealing to users who prioritize performance and convenience [15][16] Group 2: Home Appliances - The Angel Space Master series water purifier is noted for its compact design and high performance, achieving top sales in its category [20][22] - The Lenovo Zhaoyang X7 laptop is recognized for its powerful processing capabilities and reliability, making it suitable for high-demand professional environments [25][26] Group 3: Health and Wellness - The Mounjaro peptide and MitoQ + turmeric capsules are mentioned as innovative health products that address specific consumer needs [7] - The DeRUCCI AI smart mattress is highlighted for its advanced sleep management features and significant sales achievements, appealing to health-conscious consumers [30][33] Group 4: Beauty and Personal Care - The Color Repair Whitening Toothpaste is presented as a product that caters to the growing demand for effective personal care solutions [9] Group 5: Food and Beverage - The article mentions popular food products like the spicy rice noodles from Ma Liu Ji and bottled tea from Let Tea, reflecting consumer preferences in the food and beverage sector [10] Group 6: Automotive - The Aion M9 and Zeekr ES8 are noted for their innovative features and strong market performance, appealing to high-end consumers [5][76] - The Aion M9 has achieved significant sales milestones, establishing itself as a benchmark in the luxury vehicle segment [76] Group 7: Digital and Smart Devices - The Shokz OpenDots ONE earphones are recognized for their lightweight design and advanced sound technology, leading the open-ear headphone market [54][57] - The Baidu AI glasses Pro are highlighted for their stylish design and practical AI features, enhancing user experience in daily activities [60][61] Group 8: AI and Technology - The Lenovo ThinkStation PGX AI workstation is noted for its ability to run large AI models locally, significantly improving efficiency and reducing costs [28][29] - The iFlytek mobile digital human is recognized for its advanced interaction capabilities, enhancing user experience in various applications [72][73]

Group 1: New Consumption - The report emphasizes the continuous exploration of new products, channels, and brand changes within the new consumption sector, highlighting the resilience of leading companies despite market concerns about revenue growth and profit realization in 2026 [8][15][9] - Key sectors include eyewear, with a focus on AI and AR technologies, recommending companies like 康耐特光学 for their innovative approaches [18][30] - The潮玩 (trendy toys) sector is noted for its high growth potential, particularly with brands like 泡泡玛特 and their successful IP strategies [34][38] - The personal care and household cleaning segment is undergoing a transformation, driven by the rise of platforms like 抖音, which enhances brand visibility and sales conversion [54][55] Group 2: Export Chain - The report identifies the light industry export chain as a key area, emphasizing the importance of high pricing power, market diversification, and mature overseas production capabilities [10] - Recommendations include关注匠心家居, 共创草坪, and other companies that demonstrate strong performance in international markets [10] Group 3: Cyclical Opportunities - The report suggests a focus on quality leaders in the cyclical sector, particularly in home textiles and furniture, where companies like 水星家纺 and 欧派家居 are highlighted for their strong market positions [11][11] - The report notes the increasing differentiation within the home goods market, recommending companies that offer value and competitive pricing [11]

Group 1 - The A-share furniture sector experienced a broad increase, with notable stocks such as Haolaike hitting the daily limit up, and ST Yazhen rising by 5% to also reach the limit up [1] - Other companies like Meizhi Gao and Shangpin Home also saw gains exceeding 3%, while PIANO, Qisheng Technology, and Mosi shares increased by over 2% [1] Group 2 - Haolaike (stock code: 603898) rose by 10.03% with a total market value of 4.337 billion and a year-to-date increase of 49.23% [2] - ST Yazhen (stock code: 603389) increased by 5.00%, with a market capitalization of 10.7 billion and a remarkable year-to-date growth of 564.11% [2] - Shangpin Home (stock code: 300616) saw a rise of 3.51%, with a market value of 3.247 billion and a year-to-date increase of 25.79% [2] - PIANO (stock code: 002853) increased by 2.72%, with a market capitalization of 2.762 billion and a year-to-date growth of 37.65% [2] - Qisheng Technology (stock code: 603610) rose by 2.58%, with a market value of 7.007 billion and a year-to-date increase of 58.72% [2] - Mosi shares (stock code: 001323) increased by 2.53%, with a market capitalization of 12.2 billion but a year-to-date decline of 14.64% [2]