Core Insights - *ST Dongyi (002713.SZ) reported its Q3 2025 results on October 31, 2025, highlighting a significant institutional ownership change [1] Institutional Ownership - As of October 30, 2025, four institutional investors disclosed holding shares in *ST Dongyi A-shares, totaling 144 million shares, which represents 34.22% of the company's total equity [1] - The institutional investors include Tianjin Dongyi Tianzheng Investment Co., Ltd., Tianjin Chenshang Consulting Co., Ltd., Xiaomi Technology (Wuhan) Co., Ltd., and Shenyang Changshun Cable Manufacturing Co., Ltd. [1] - Compared to the previous quarter, the total institutional holding percentage decreased by 5.62 percentage points [1]

证券代码：002713 证券简称：*ST 东易 公告编号：2025- 074 东易日盛家居装饰集团股份有限公司 2025年第三季度装修装饰业务主要经营情况简报 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。 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 3 号——行业信息披露》等相关规定，东易日盛家居装饰集团股份有限公 司 2025 年第三季度装修装饰业务主要经营情况如下： | 单位：万元 | | --- | | 业务类型 | 新签订单合同金额 [工程（含配套）、设计产值合计] | 截至报告期末累计已签 约未完工合同金额 | | --- | --- | --- | | 家装业务 | 9,042 | 18,594 | | 精工装业务 | 1,582 | 4,249 | | 公装业务 | 4,839 | 12,293 | | 合 计 | 15,463 | 35,136 | 注 1：公司不存在重大项目。 注 2：以上数据仅为阶段性数据且未经审计，供各位投资者参阅。 特此公告。 东易日盛家居装饰集团股份有限公司 董事会 二〇二五年十月三十日 ...

Core Insights - *ST Dongyi reported a significant decline in revenue and an increase in net loss for the third quarter and the first three quarters of the year [1] Financial Performance - In Q3, the company achieved an operating income of 183.80 million yuan, a year-on-year decrease of 27.31% [1] - The net loss attributable to shareholders for Q3 was 6.78 million yuan, an increase of 83.53% year-on-year [1] - For the first three quarters, the company reported an operating income of 544.29 million yuan, down 52.02% year-on-year [1] - The net loss attributable to shareholders for the first three quarters was 58.26 million yuan, reflecting a year-on-year increase of 89.97% [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥183,796,710.56, a decrease of 27.31% compared to the same period last year[5] - The net profit attributable to shareholders was -¥6,783,012.85, representing an increase in loss of 83.53% year-on-year[5] - The net profit after deducting non-recurring gains and losses was -¥15,711,656.83, a decrease in loss of 75.56% compared to the previous year[5] - The basic earnings per share were -¥0.02, an increase in loss of 80.00% year-on-year[5] - The company reported a significant decrease in total operating income of 52.02%, primarily due to reduced revenue from home decoration services[10] - Total operating revenue for the current period was ¥544.29 million, a decrease of 52.0% compared to ¥1,134.49 million in the previous period[21] - Net profit for the current period was a loss of ¥53.81 million, an improvement from a loss of ¥583.45 million in the previous period[22] - The total comprehensive income attributable to the parent company was -58,374,545.93 CNY, compared to -581,354,719.81 CNY in the previous period, indicating a significant improvement[23] - Basic and diluted earnings per share were both -0.14 CNY, an improvement from -1.39 CNY in the previous period[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥1,420,728,217.35, down 15.60% from the end of the previous year[5] - The company's total assets decreased to ¥1,420.73 million from ¥1,683.32 million, a decline of 15.6%[19] - Current liabilities totaled ¥2,326.62 million, down 6.2% from ¥2,481.43 million in the previous period[19] - Non-current liabilities decreased to ¥122.65 million from ¥176.44 million, a reduction of 30.4%[19] - The company's total equity showed a decline, with total equity at -¥1,028.54 million compared to -¥974.55 million in the previous period[19] Cash Flow - The net cash flow from operating activities was -7,442.66 million, an improvement of 22.83% compared to -9,644.08 million in the previous period[11] - The net cash flow from investing activities increased significantly to 1,643.25 million, a 108.90% improvement from -18,473.20 million in the prior period[11] - The net cash flow from financing activities was 4,636.49 million, representing a 133.01% increase compared to -14,046.14 million in the previous period[11] - The company's cash flow from financing activities showed a net increase of 46,364,857.69 CNY, contrasting with a net outflow of -140,461,438.10 CNY in the previous period[25] - The net cash flow from operating activities was -74,426,571.32 CNY, an improvement from -96,440,764.47 CNY year-over-year[24] - The total cash inflow from operating activities was 562,371,548.83 CNY, down from 1,122,203,879.72 CNY, a decrease of approximately 50.1%[24] Shareholder Information - The total number of common shareholders at the end of the reporting period was 12,139[13] - The largest shareholder, Tianjin Dongyi Tianzheng Investment Co., Ltd., holds 16.15% of shares, totaling 67,738,128 shares[13] - The second-largest shareholder, Tianjin Chenshang Consulting Co., Ltd., owns 15.87% of shares, amounting to 66,578,594 shares[13] Restructuring and Legal Matters - The company has selected 11 investors as restructuring investors as of September 26, 2025[15] - The restructuring plan and related voting notifications were sent to creditors on October 9, 2025, with subsequent approval of the plan on October 15, 2025[15] Expenses - Research and development expenses decreased by 35.94% to ¥3,402.66, attributed to a reduction in personnel and salaries[10] - Research and development expenses for the current period were ¥34.03 million, a decrease of 36.0% from ¥53.12 million in the previous period[22] - The company reported a significant reduction in sales expenses, which were ¥111.71 million, down 72.9% from ¥412.64 million in the previous period[22] - The income tax expense was -851.26 million, reflecting a 336.51% increase due to the provision for deferred tax assets[11] Asset Disposal - The company reported a significant decrease in asset disposal income, down 93.05% to 203.44 million, primarily due to reduced income from the disposal of usage rights assets[11] - The company recorded a non-recurring gain of ¥8,928,643.98, primarily from pending litigation and debt claims[7]

Group 1: Stock Issuance and Trading Alerts - Multiple stocks experienced significant abnormal fluctuations, including 香农芯创 (300475) and 天普股份 (605255) with announcements on October 24 and 21 respectively[1] - 盈新发展 (000620) and *ST宝鹰 (002047) had announcements on October 30 indicating potential trading alerts[1] - A total of 30 stocks were flagged for abnormal trading activities on October 30, indicating a heightened market volatility[1] Group 2: Recent Announcements - 许多公司如 ST万方 (000638) and 农心科技 (001231) had their announcements published on October 27, indicating ongoing corporate activities[2] - The report includes links to detailed announcements for 30 different stocks, providing transparency and access to information for investors[2] - The announcements cover a range of sectors, highlighting the diverse nature of the market and the potential for investment opportunities[2]

Core Insights - A total of 490 stocks in the Shanghai and Shenzhen markets have experienced net outflows of main funds for five consecutive days or more as of October 29 [1] - The stock with the longest continuous net outflow is Zhongju Gaoxin, with 31 days of outflows, followed by Hengshen New Materials with 21 days [1] - The largest total net outflow amount is from China Merchants Bank, with a cumulative outflow of 3.093 billion yuan over 12 days [1] Group 1: Stocks with Longest Net Outflows - Zhongju Gaoxin has seen net outflows for 31 days, with a total outflow of 559 million yuan and a cumulative decline of 6.91% [1] - Hengshen New Materials has recorded net outflows for 21 days, totaling 197 million yuan, with a decline of 9.80% [3] - China Merchants Bank has the highest net outflow amount of 3.093 billion yuan over 12 days, with a net outflow ratio of 6.98% and a cumulative increase of 1.65% [1] Group 2: Other Notable Stocks - Guotai Junan has experienced net outflows for 10 days, amounting to 1.877 billion yuan, with a net outflow ratio of 7.89% and a cumulative increase of 2.70% [1] - Shengbang Co. has seen net outflows for 12 days, totaling 1.826 billion yuan, with a net outflow ratio of 9.52% and a cumulative decline of 10.65% [1] - Huajian Group has recorded net outflows for 6 days, with a total outflow of 1.713 billion yuan and a significant decline of 40.29% [1] Group 3: Stocks with Significant Outflow Ratios - Jianan Intelligent has the highest net outflow ratio at 14.74%, with a decline of 2.98% over the past 5 days [1] - Other notable stocks with high outflow ratios include Huayi Development at 11.91% and Pianzaihuang at 11.84% [1] - The overall trend indicates a significant outflow of funds from various sectors, reflecting investor sentiment and market conditions [1]

Core Viewpoint - The company is facing significant financial challenges, including a negative net asset value and potential delisting risks due to ongoing bankruptcy restructuring efforts and stock trading warnings [3][6][11]. Group 1: Stock Trading and Financial Status - The company's stock has been under trading risk warnings due to a cumulative price deviation exceeding 12% over three consecutive trading days [4]. - As of the end of 2024, the company's audited net assets attributable to shareholders were negative, leading to the implementation of a delisting risk warning [6]. - The company has received a court decision to initiate pre-restructuring, but has not yet received formal acceptance of its restructuring application [6][11]. Group 2: Restructuring and Investment Risks - The success of the company's restructuring and potential asset injections into the computing power industry are uncertain and depend on regulatory approvals and market conditions [10]. - There are risks associated with the construction and operational readiness of the He Lin Ge Er Intelligent Computing Center, which has not yet been completed [10]. - The company has signed investment-related agreements for restructuring, but there are risks of non-fulfillment due to potential funding issues from investors [10][11]. Group 3: Information Disclosure and Compliance - The company has conducted self-examinations and confirmed that there are no undisclosed significant matters that could impact stock trading prices [5][9]. - The company emphasizes compliance with information disclosure regulations and has designated specific media for official announcements [11][12].

Group 1 - The article lists several companies under monitoring for stock price fluctuations, indicating potential investment opportunities or risks [1] - The monitoring periods for the companies vary, with some starting as early as October 22, 2025, and ending as late as November 7, 2025 [1] - Specific companies mentioned include 香农芯创, *ST元成, *ST东易, 大有能源, and 华建集团, each with designated monitoring dates [1]

Investment Rating - The industry investment rating is "Overweight" indicating that the industry is expected to outperform the overall market [21]. Core Insights - The construction and decoration sector has shown a weekly increase of 2.91%, with the infrastructure private enterprises leading the performance at +7.55% [3][4]. - The report highlights that the GDP for the first three quarters of 2025 increased by 5.2%, while fixed asset investment decreased by 0.5% year-on-year [10][12]. - The "14th Five-Year Plan" emphasizes expanding high-level opening-up and optimizing regional economic layout, which is expected to provide significant elasticity to regional investments [10][12]. Summary by Sections 1. Market Performance - The construction sector outperformed the Shanghai Composite Index, with a weekly increase of 2.91% [4]. - The best-performing sub-sectors for the week were infrastructure private enterprises (+7.55%), decorative curtain walls (+7.00%), and infrastructure state-owned enterprises (+4.78%) [6][9]. 2. Industry Changes - The National Bureau of Statistics reported a year-on-year GDP growth of 5.2% for the first three quarters of 2025, with fixed asset investment down by 0.5% [10][12]. - Infrastructure investment (including all categories) grew by 3.3%, while real estate investment saw a significant decline of 13.9% [10][12]. 3. Key Company Updates - Jianfa Hecheng reported a revenue increase of 10.55% year-on-year and a net profit increase of 21.2% for the first three quarters of 2025 [12][14]. - Zhongyan Dadi won a procurement project worth 77.98 million yuan, accounting for 9.77% of its 2024 revenue [12][14]. - Anhui Construction won a project for the Yangzhou to Huainan expressway with a total value of 620 million yuan, representing 0.64% of its 2024 revenue [13][14]. 4. Investment Recommendations - The report recommends state-owned enterprises such as China Chemical, China Railway, and China Railway Construction due to their low valuations [3][12]. - It also suggests focusing on private enterprises like Zhizhi New Materials and Honglu Steel Structure, as well as international engineering firms like China Steel International and China Materials International [3][12].

Market Overview - The decoration and renovation sector increased by 0.26% on October 24, with Quan Zhu Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Top Gainers in the Sector - Quan Zhu Co., Ltd. (603030) closed at 3.66, up 9.91% with a trading volume of 2.36 million shares and a turnover of 854 million yuan [1] - Hao Er Sai (002963) closed at 18.56, up 6.30% with a trading volume of 103,400 shares and a turnover of 189 million yuan [1] - ST Dongyi (002713) closed at 9.86, up 4.67% with a trading volume of 432,500 shares and a turnover of 421 million yuan [1] Top Losers in the Sector - Guangtian Group (002482) closed at 1.95, down 6.25% with a trading volume of 4.69 million shares and a turnover of 9.55 million yuan [2] - Zhengzhong Design (002811) closed at 13.64, down 2.43% with a trading volume of 167,100 shares and a turnover of 230 million yuan [2] - Hainan Development (002163) closed at 10.65, down 1.84% with a trading volume of 290,800 shares and a turnover of 313 million yuan [2] Capital Flow Analysis - The decoration and renovation sector saw a net inflow of 129 million yuan from institutional investors, while retail investors experienced a net outflow of 1.03 billion yuan [2] - Major stocks like Quan Zhu Co., Ltd. had a net inflow of 24.6 million yuan from institutional investors, but a net outflow of 140 million yuan from retail investors [3] - Hao Er Sai experienced a net inflow of 34.55 million yuan from institutional investors, while retail investors had a net outflow of 40.38 million yuan [3]