一、审议通过《关于续聘会计师事务所的议案》 证券代码：002713 证券简称：*ST 东易 公告编号：2025-082 东易日盛家居装饰集团股份有限公司 第六届董事会第十六次（临时）会议决议公告 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性陈述或者重 大遗漏。 东易日盛家居装饰集团股份有限公司（以下简称"公司"）第六届董事会第十六 次（临时）会议通知于2025年11月12日以邮件形式向各位董事发出，会议于2025年11 月17日以通讯表决的方式召开。 会议应出席董事 7 名, 实际出席董事 7 名。会议的召开符合《中华人民共和国公司 法》及《公司章程》的规定，决议合法有效。经各位董事审议并投票表决，形成如下决 议： 该议案尚需提交公司股东大会审议。 三、审议通过《关于召开公司 2025 年第二次临时股东大会的议案》 表决结果：7 票赞成，0 票反对，0 票弃权。 董事会同意于 2025 年 12 月 3 日召开公司 2025 年第二次临时股东大会。具体内容 详见公司于 2025 年 11 月 18 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于召开 公司 2025 ...

Core Viewpoint - *ST Dongyi's stock price has surged significantly, but the company's future remains uncertain due to severe operational difficulties and impending delisting risks [1][3][8]. Financial Performance - From 2022 to 2024, *ST Dongyi incurred a total loss of 2.13 billion yuan, with revenues of 2.524 billion yuan, 2.934 billion yuan, and 1.296 billion yuan, reflecting year-on-year changes of -41.18%, +16.26%, and -55.84% respectively [6]. - In the first three quarters of 2025, the company reported revenues of 544 million yuan, a year-on-year decline of 52.02%, and a net loss of 58 million yuan [7]. - As of September 30, 2025, the company's debt-to-asset ratio reached 172.40%, indicating severe insolvency [7]. Stock Price Movement - Since signing a restructuring investment agreement on September 26, 2025, *ST Dongyi's stock price has increased by 241.59%, with nine instances of abnormal fluctuations [1][3]. - The stock experienced 23 limit-up days out of 28 trading days from September 29 to November 13, 2025, with a total trading volume of 7.364 million hands and a turnover of 7.297 billion yuan [3]. Restructuring and Investment - The company is undergoing a restructuring process, with Beijing Huazhu Technology Co., Ltd. as the proposed investor, planning to inject computing power assets [1][11]. - However, the quality of the assets to be injected by Huazhu Technology is questioned, as the company has a debt-to-asset ratio of 97.93% and a net profit of only 5.21 million yuan in 2024 [11]. Future Outlook - The company faces a delisting risk if it fails to complete the restructuring process by December 31, 2025, and has not yet received court approval for the restructuring [8][10]. - Even if the restructuring is completed, uncertainties remain regarding the future profitability and operational synergy of the injected computing power business [12].

Group 1: Industry Overview - The import and export report for China's furniture industry in Q3 2025 shows a trend of "export pressure stabilizing, and a slight recovery in imports," with total exports amounting to $50.177 billion, a year-on-year decrease of 4.6%, and imports totaling $1.127 billion, down 6.6% [1] - The Shenzhen home decoration subsidy policy has driven consumption exceeding 13.9 billion yuan, benefiting approximately 330,000 citizens and generating nearly 5 million sales orders since its launch [2] - The first quality management system certification standard for the home decoration industry is set to be introduced, addressing long-standing issues of "no standards, no basis, and no guarantees" in the industry [3] Group 2: Company Developments - Senyang Windows has postponed the completion dates of two major fundraising projects to May 2027, with current investment progress below 35% [4][5] - Minotti has opened a new flagship store in Zhengzhou, covering 950 square meters, designed to enhance customer experience and brand presence [5] - Jintenglong reported that its cumulative litigation and arbitration amount exceeds 1.467 billion yuan, accounting for over 10% of its net assets, primarily related to claims for overdue project payments [6] - Beike Holdings reported a net income of 4.3 billion yuan from its home decoration and furniture business in Q3, with a profit margin of 32%, reflecting a 0.8% year-on-year increase [7] - Dongyi Risheng has secured 1.412 billion yuan in restructuring funds, with plans to transform into the computing industry post-restructuring [8] - Shengda Forestry is set to auction its office building in Chengdu with a starting price of approximately 10.788 million yuan, aimed at reducing debt and optimizing asset management [9] - Zhenai Meijia is undergoing a change of control with a proposed acquisition by Tanjitech, which aims to enhance collaboration across the entire production chain [10] - Zhongyuan Home has renewed its agreement with its controlling shareholders, maintaining a 65.81% voting power to ensure strategic continuity [11] - Mona Lisa has entered the semiconductor industry by investing in Zhuhai Jingci, which specializes in semiconductor manufacturing [12] - Xilinmen has adjusted its semi-annual cash dividend to 103 million yuan, a slight decrease from the previous plan due to share buybacks [13] - Tmall's Double 11 sales report highlights leading brands in the home appliance and furniture sectors, with significant performances from various companies [14] - Minhua Holdings reported a total revenue of 8.241 billion HKD for the interim period, with a slight decline in core product sales but growth in other product categories [15]

Core Viewpoint - *ST Dongyi's stock price has surged significantly, but the company's future remains uncertain due to ongoing operational difficulties and the risk of delisting [2][6][13]. Financial Performance - From 2022 to 2024, *ST Dongyi incurred a total loss of 2.13 billion yuan, with revenues declining sharply to 544 million yuan in the first three quarters of 2025, a year-on-year decrease of 52.02% [11][12]. - The company's net assets were -1.107 billion yuan at the end of 2024 and -1.165 billion yuan by September 2025, with a debt-to-asset ratio of 172.40% [12]. Stock Price Movement - Since signing a restructuring investment agreement on September 26, 2025, *ST Dongyi's stock price has increased by 241.59%, with nine instances of abnormal fluctuations [2][6]. - The stock experienced 23 limit-up days out of 28 trading days from September 29 to November 13, 2025, with a total trading volume of 7.364 million hands and a turnover of 7.297 billion yuan [7]. Restructuring Efforts - The company initiated pre-restructuring work in October 2024 and signed a restructuring investment agreement in September 2025, but has not yet received court documents for the restructuring process [12][13]. - The restructuring is contingent on successful implementation by December 31, 2025, or the company risks being delisted [13]. Investment and Asset Injection - Huazhu Technology, the restructuring investor, plans to inject computing power assets into *ST Dongyi, but the quality of these assets is questioned [3][4]. - Huazhu Technology's financials show a total asset of 3.675 billion yuan and a debt of 3.599 billion yuan, indicating a debt-to-asset ratio of 97.93% [16]. Future Outlook - Even if restructuring is completed by the end of 2025, the future outlook for *ST Dongyi remains bleak due to uncertainties surrounding the injected assets and the company's ability to generate profits [15][18]. - The success of the restructuring and the potential for asset injection depend on various factors, including legal compliance and regulatory approvals [18].

Group 1 - The A-share market experienced a "hundred stocks limit up" phenomenon on November 13, with 106 stocks hitting the limit, led by the electric equipment, basic chemicals, and non-ferrous metals sectors [1][3] - The average total market capitalization of the limit-up stocks reached 14.063 billion, with 37.73% of stocks having a market cap over 10 billion [3] - Notable stocks include *ST Dongyi with 12 consecutive limit-ups and Moen Electric with 8 consecutive limit-ups, highlighting the missed opportunities for retail investors [3][9] Group 2 - The biggest risk in a bull market is missing out, as many investors feel more pain from not participating than from actual losses [3][4] - The essence of a bull market is a positive trend, which is a process of consensus formation and reinforcement, often driven by institutional funds rather than retail investors [3][4] Group 3 - The importance of observing actual trading behavior rather than relying on subjective feelings about high or low prices is emphasized [4][6] - Institutional funds have been actively accumulating bank stocks since 2022, even when prices were relatively stable, showcasing their foresight [6] Group 4 - The disappearance of "institutional inventory" data since October 2023 indicates that markets without institutional participation struggle to maintain sustained trends [8] - Quantitative data is highlighted as a valuable tool for uncovering market truths, allowing for a deeper understanding of fund behavior beyond traditional price charts [8][10] Group 5 - The current market conditions present both opportunities and challenges for ordinary investors, who should focus on understanding rather than predicting market movements [10][11] - Key advice includes recognizing the importance of large fund behaviors, finding suitable tools to filter information, and maintaining patience in the investment process [11]

Group 1 - Duopule plans to reduce its shareholding by no more than 1%, amounting to a maximum of 619,000 shares [1] - Lideman intends to acquire 70% of Xiansheng Xiangrui for 1.733 billion yuan, focusing on tuberculosis screening and diagnosis [2] - Huahuan Group is planning a change in control, leading to a temporary suspension of its stock [3] Group 2 - Dongbai Group clarifies it does not engage in duty-free business, maintaining normal operations [4][5] - Changsheng Bearing's actual controller plans to reduce holdings by up to 1.99%, equating to 5.94 million shares [6][7] - Jidian plans to invest 5.698 billion yuan in the Baicheng Phase II coal power project, a key initiative under the national "14th Five-Year Plan" [9][10] Group 3 - Baoneng New Energy reports completion of land-based works for the expansion of the Lufeng Qiaohai Bay Power Plant [11][12] - Changshu Bank proposes to appoint Lu Dingchang as the new president and chief compliance officer [13][14] - Kangqiang Electronics plans to reduce its shareholding by no more than 1%, totaling up to 3.7526 million shares [14] Group 4 - Jilin Chemical Fiber intends to reduce its holdings by up to 2%, equating to 49.1774 million shares [15][16] - CanSino's inhaled tuberculosis vaccine has commenced Phase I clinical trials in Indonesia [17][18] - ST Dongyi's stock has been suspended for review due to significant price fluctuations [19] Group 5 - ST Yatai plans to reduce its holdings by up to 1.98%, totaling 6.4 million shares [20] - Huaren Pharmaceutical intends to reduce its holdings by up to 3%, equating to 35.4663 million shares [21] - Jianglong Shipbuilding's controlling shareholder plans to reduce holdings by up to 2%, amounting to 7.5534 million shares [22] Group 6 - Borui Pharmaceutical's BGM1812 injection has received approval for clinical trials targeting overweight or obesity [23][24] - ST Zhongzhu announces the transfer of 10.38% of its shares, totaling approximately 403 million yuan [25][26] - Shenzhou Digital plans to establish an employee stock ownership plan with a maximum fundraising of 360 million yuan [27][28] Group 7 - Kaichuang Electric plans to establish a joint research center with Tsinghua University, focusing on embodied intelligence [29] - Daming City intends to acquire 19.43% of Baicaibang for 694 million yuan, specializing in communication solutions [29]

Core Viewpoint - Dongyi Risheng is undergoing a judicial reorganization process, with significant implications for its debt resolution and the transformation of the home decoration industry. The company faces delisting risks if the reorganization is not completed by December 31, 2025 [1][4]. Financial Overview - As of October 2024, Dongyi Risheng's total assets were valued at 1.339 billion yuan, with a market assessment of 1.511 billion yuan, and total liabilities of 1.856 billion yuan, resulting in a net asset value of -517 million yuan and a debt-to-asset ratio of 117.98% [2]. - The reorganization plan includes a cash repayment strategy for secured, employee, and tax debts, while ordinary debts exceeding 80,000 yuan will be converted into equity at a conversion price of 14.97 yuan per share, with a repayment rate of 11.24% [2]. Reorganization Plan - The reorganization plan involves a capital increase through capital reserves, diluting existing shareholders' rights. The total share capital will increase from 419.5 million shares to 951.5 million shares [3]. - The share distribution post-reorganization includes 15.77% for industrial investors, 28.05% for financial investors, and 12.09% for ordinary creditors [3]. Investment and Execution - As of November 10, 2025, the temporary administrator received a total of 14.1247 billion yuan in investment funds, laying the groundwork for the execution of the reorganization plan [4]. - The reorganization aims to prioritize cash repayment for employee and small debts, convert ordinary debts into equity, and attract new capital and resources to restore the balance sheet and reshape the business structure [4]. Development Strategy - The post-reorganization strategy focuses on two main lines: the "AI Smart Home" model and the intelligent computing center business. The AI model integrates AI design tools and aims to generate stable cash flow through a commitment to introduce no less than 500 million yuan in orders over three years [10][11]. - The intelligent computing center, supported by the industrial investor's donation, is expected to become a new profit growth point, with significant funding needs for future expansions [11]. Timeline of Events - The reorganization process began with a creditor's application on October 16, 2024, leading to the appointment of a temporary administrator and the initiation of the pre-reorganization plan [6][7]. - By November 2025, the reorganization plan was approved by the ordinary creditor group, allowing it to transition into a formal reorganization plan [8].

新京报贝壳财经讯 11月13日，*ST东易（002713）发布公告称，公司股票自9月26日晚披露《关于遴选 重整投资人结果及签署重整投资协议暨预重整进展的公告》以来，至11月13日价格涨幅为241.59%，股 价波动较大，期间出现九次异常波动，严重背离公司基本面。公司将就股票交易波动情况进行核查。经 申请，公司股票自11月14日开市起停牌，待核查结束并披露相关公告后复牌，预计停牌不超过3个交易 日。 ...

28个交易日，23个涨停，累计涨幅241.59%，*ST东易拟停牌核查。 11月13日晚间，*ST东易（002713）发布公告称，公司股票自9月26日晚披露《关于遴选重整投资人结果及签署重整投资协议暨预重整进展的公告》以 来，至11月13日价格涨幅为241.59%，其间出现9次异常波动，严重背离公司基本面，公司将就股票交易波动情况进行核查。 *ST东易从2024年7月最低价1.96元，涨至最新停牌价17.66元，涨幅近10倍。 经申请，*ST东易股票将自11月14日开市起停牌，待核查结束并披露相关公告后复牌，预计停牌时间不超过3个交易日。 同时，华著科技将借助自身算力产业资源，通过捐赠智算中心运营主体、订单导入等方式，多措并举助力*ST东易拓展数据中心集成服务业务及算力服务 业务，推动上市公司实现双轮驱动，并承诺未来三年为公司导入算力产业相关业务订单。 预重整进展带动股价走牛 *ST东易的股价狂欢始于预重整进展带来的希望。 9月26日晚间，公司披露了《关于遴选重整投资人结果及签署重整投资协议暨预重整进展的公告》，随后股价便开启了"疯涨"模式。 根据公告，*ST东易已与多家重整投资人签订了协议书。截至目前，已收 ...

New Stock Offerings - Hai'an Group is offering shares with a subscription code of 001233 at a price of 48.00 CNY per share, with a subscription limit of 14,500 shares [1] Economic and Regulatory Updates - The Ministry of Commerce held a press conference discussing ongoing negotiations with the Netherlands regarding semiconductor supply chain stability, emphasizing the need for constructive solutions [4] - The People's Bank of China reported that the total social financing increased by 30.9 trillion CNY in the first ten months of 2025, which is 3.83 trillion CNY more than the same period last year, with a year-on-year growth rate of 8.5% [5] - The State Council will hold a press conference on November 14, 2025, to discuss the national economic performance for October 2025 [5] - The Financial Regulatory Bureau plans to release a revised "Commercial Bank Mergers and Acquisitions Loan Management Measures" to support mergers and restructuring, particularly for technology enterprises [5] Industry Developments - China has completed the first phase of 6G technology trials, accumulating over 300 key technology reserves [6] - The "Petroleum and Natural Gas Infrastructure Planning, Construction, and Operation Management Measures" will take effect on January 1, 2026, aiming to streamline investment mechanisms in oil and gas infrastructure [6] - The World Power Battery Conference highlighted the expanding applications of electric technology across various sectors, with a focus on high-quality development in the power battery industry [7] Company Performance - Tencent Holdings reported third-quarter revenue of 192.87 billion CNY, a year-on-year increase of 15% [9] - JD Group's third-quarter revenue reached 299.1 billion CNY, reflecting a growth of 14.9% [10] - Semiconductor Manufacturing International Corporation (SMIC) posted a net profit of 1.517 billion CNY in the third quarter, marking a significant year-on-year increase of 43.1% [11] Market Insights - Huatai Securities noted that the current A-share profit cycle is improving, with signs of recovery in asset balance sheets and orders, suggesting a positive outlook for sectors like advanced manufacturing and TMT [22] - Zhongyuan Securities reported a sustained upward trend in the lithium battery industry, advising investors to monitor raw material prices and policy developments closely [23]