Core Viewpoint - The restructuring process of *ST Dongyi is progressing with a strategic optimization of financial investors, aiming to enhance debt resolution, capital structure improvement, and business recovery [1][2]. Group 1: Financial Investor Changes - The financial investor structure has been optimized, transitioning from individual investors to institutional investors, with four institutions fully taking over the restructuring investment shares previously held by four natural persons [1][2]. - The selection process attracted up to 40 potential restructuring investors, including 25 financial investors, leading to a core group of institutional investors [2]. - The shareholding ratios of the new institutional investors have increased, with Yunnan International Trust Co., Ltd. rising from 4.94% to 4.99%, and other institutions also showing significant increases in their holdings [2]. Group 2: Operational and Financial Improvements - The collaboration between industrial and financial investors is enhancing operational efficiency, with a total of 11.46 billion yuan allocated for debt repayment and working capital [3]. - The company expects a significant reduction in losses for the first half of 2025, with a projected net loss of 46 million to 69 million yuan, compared to a loss of 540 million yuan in the same period last year, indicating an improvement of over 87% [3]. - The narrowing of losses is attributed to stable operations of subsidiaries and the absence of large losses from store closures, creating conditions for net asset normalization [3]. Group 3: Strategic Direction and Future Outlook - The transition to professional institutional investors provides stronger certainty for the restructuring plan, while the synergy between industrial and financial investments is driving the company towards a dual business model of "AI home decoration + computing power" [4]. - The ongoing collaboration is expected to lead to a decisive breakthrough in the restructuring process within the year [4].

Group 1 - The company has received a court decision to initiate pre-restructuring, but there is uncertainty regarding whether it will enter the restructuring process [2][16] - The company has signed restructuring investment agreements with various financial investors, which is expected to improve its financial structure and resolve debt crises [3][16] - The restructuring plan includes a capital increase, with the total share capital expected to rise from 419,536,980 shares to 951,405,184 shares [10][13][15] Group 2 - The restructuring investment agreements involve multiple financial investors, including Yunnan International Trust and others, with specific share allocations and investment amounts detailed [4][6][12] - The agreements stipulate that the financial investors will acquire shares at a price of 3.00 yuan per share, with total investment amounts reaching 142.5 million yuan for one investor and 120 million yuan for another [10][13][15] - The company is under a delisting risk warning due to negative net assets as of the end of 2024, and the stock is subject to trading risk warnings [17][18]

证券代码：002713 证券简称：*ST 东易 公告编号：2025-060 东易日盛家居装饰集团股份有限公司 关于更换部分财务投资人及签署重整投资协议 暨预重整进展的公告 1、预重整为法院正式受理重整前的程序，法院同意公司预重整，不代表法 院最终裁定受理公司重整，公司后续是否进入重整程序尚存在不确定性。公司将 密切关注相关情况并根据进展及时履行信息披露义务。 2、公司股票交易存在被实施退市风险警示的风险：若法院裁定受理公司重 整，根据《深圳证券交易所股票上市规则》的相关规定，公司股票将被实施退市 风险警示。 3、公司股票存在终止上市的风险：如果法院正式受理对公司的重整申请且 公司顺利实施重整并执行完毕重整计划，将有利于改善公司资产负债结构，推动 公司健康、可持续发展。但即使法院正式受理对公司的重整申请，公司仍存在因 重整失败而被宣告破产的风险。如果公司被宣告破产，公司将被实施破产清算， 根据《深圳证券交易所股票上市规则》的相关规定，公司股票将面临被终止上市 的风险。 4、重整投资协议的履约风险：关于本次重整投资相关协议，可能存在因财 务投资人筹措资金不到位等无法按照协议约定履行投资义务的风险。虽然重整投 资相 ...

Market Performance - The decoration and renovation sector increased by 0.38% compared to the previous trading day, with *ST Baoying 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 - *ST Baoying (002047) closed at 2.22, up 5.21% with a trading volume of 334,700 shares and a turnover of 73.29 million yuan [1] - Mingdiao Co., Ltd. (002830) closed at 18.88, up 4.89% with a trading volume of 50,500 shares and a turnover of 94.17 million yuan [1] - *ST Dongyi (002713) closed at 4.90, up 2.94% with a trading volume of 187,200 shares and a turnover of 92.24 million yuan [1] Top Losers - ST Keli Da (603828) closed at 4.28, down 4.46% with a trading volume of 106,200 shares and a turnover of 45.82 million yuan [2] - ST Zhongzhuang (002822) closed at 3.60, down 2.70% with a trading volume of 236,600 shares and a turnover of 84.69 million yuan [2] - Zhengzhong Design (002811) closed at 11.73, down 2.25% with a trading volume of 209,800 shares and a turnover of 248 million yuan [2] Capital Flow - The decoration and renovation sector experienced a net outflow of 83.44 million yuan from institutional investors, while retail investors saw a net inflow of 50.59 million yuan [2][3] - The main capital inflow and outflow for key stocks in the sector indicate varying investor sentiment, with *ST Baoying seeing a net inflow of 17.63 million yuan from institutional investors [3]

证券代码：002713 证券简称：*ST 东易 公告编号：2025-059 东易日盛家居装饰集团股份有限公司 关于控股股东股份解除质押的公告 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"）于近日收到公司 控股股东天津东易天正投资有限公司（以下简称"东易天正"）的通知，获悉其 所持有本公司的股份已办理解除质押手续，具体情况如下： 一、控股股东股份解除质押的基本情况 | 股东 | 是否为控股 股东或第一 大股东及其 | 本次解除质押 | 占其所持股 | 占公司总 | 起始日 | 解除日期 | 质权人 | | --- | --- | --- | --- | --- | --- | --- | --- | | 名称 | 一致行动人 | 股份数量( 股 | ) 份比例 | 股本比例 | | | | | 东易天正 | 是 | 9,439,664 10,562,475 | 13.94% 15.59% | 2.25% 2.52% | 2022-08-01 2022-08-02 | 2025-08-08 | | | | | | ...

从资金流向上来看，当日装修装饰板块主力资金净流出5017.74万元，游资资金净流出1520.23万元，散户 资金净流入6537.97万元。装修装饰板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002830 | 名雕股份 | 17.96 | 5.15% | 4.42万 | | 7818.00万 | | 002822 | ST中装 | 3.89 | 4.57% | 27.50万 | | 1.06亿 | | 600193 | *ST创兴 | 4.70 | 3.30% | 13.34万 | | 6212.21万 | | 601886 | 江河集团 | 7.61 | 2.70% | 8.14万 | | 6148.73万 | | 002713 | *ST东易 | 4.69 | 1.96% | 12.81万 | | 5917.64万 | | 002163 | 海南发展 | 9.92 | 1.22% | 19.65万 | | 1.93亿 | | 002963 | 豪尔 ...

| | | 减持均价 | | 减持股数 | | 占总股本比例 | | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | 减持方式 | 减持期间 | | | | | | | | （元/股） | | （股） | （%） | | | 东易天正 | 集中竞价 | | 4.47 | 2,042,253 | 0.4868 | | | | | 本次减持前持有股份 | | | 本次减持后持有股份 | | | 股东名称 | 股份性质 | | 占总股本 | | | 占总股本比例 | | | 股数(股) | | | 股数(股) | | | | | | 比例(%) | | | (%) | | | 合计持有股份 | | 69,780,381 | 16.63 | 67,738,128 | 16.15 | | | 东易天正 | 其中：无限售条件股份 | 69,780,381 | | 16.63 | 67,738,128 | 16.15 | | 有限售条件股份 | | 0 | 0 | 0 | 0 | | | 二、其他相关说明 | | | | | | | 证券代码：002713 证券简称：* ...

东易日盛家居装饰集团股份有限公司 关于公司控股股东被动减持股份计划实施完毕的公告 证券代码：002713 证券简称：*ST 东易 公告编号：2025-058 2025 年 8 月 7 日，公司收到东易天正通知，本次减持计划已实施完毕。现 将减持计划实施情况公告如下： 一、股东被动减持情况 | 股东名称 | 减持方式 | 减持期间 | 减持均价 | 减持股数 | 占总股本比例 | | --- | --- | --- | --- | --- | --- | | | | | （元/股） | （股） | （%） | | 东易天正 | 集中竞价 | 2025.08.01- 2025.08.05 | 4.47 | 2,042,253 | 0.4868 | 1、股东被动减持股份情况 2、股东本次减持前后持股情况 | 股东名称 | 股份性质 | 本次减持前持有股份 | | 本次减持后持有股份 | | | --- | --- | --- | --- | --- | --- | | | | 股数(股) | 占总股本 比例(%) | 股数(股) | 占总股本比例 (%) | | 东易天正 | 合计持有股份 | 69,780,381 ...

Market Performance - The decoration and renovation sector increased by 0.56% on August 4, with Zhengzhong Design leading the gains [1] - The Shanghai Composite Index closed at 3583.31, up 0.66%, while the Shenzhen Component Index closed at 11041.56, up 0.46% [1] Stock Performance - Zhengzhong Design (002811) closed at 12.28, up 5.32% with a trading volume of 712,700 shares and a transaction value of 865 million [1] - Other notable gainers included *ST Chuangxing (600193) up 5.04%, Kexin Development (600234) up 4.12%, and Zhongtian Jingzhuang (002989) up 3.47% [1] - Conversely, Jianghe Group (601886) fell by 1.59%, and Hainan Development (002163) decreased by 0.99% [2] Capital Flow - The decoration and renovation sector experienced a net outflow of 137 million from institutional investors, while retail investors saw a net inflow of 1.32 billion [2] - The overall capital flow indicates that retail investors are more active in this sector compared to institutional investors [2] Individual Stock Capital Flow - *ST Chuangxing (600193) had a net inflow of 14.49 million from institutional investors, while it faced a net outflow of 12.26 million from speculative funds [3] - Zhengzhong Design (002811) saw a net inflow of 82.17 million from speculative funds, indicating strong retail interest despite a net outflow from institutional investors [3] - The overall trend shows that while institutional investors are withdrawing, retail investors are actively buying into certain stocks within the sector [3]

Core Viewpoint - The home improvement industry is facing unprecedented challenges, with major companies experiencing financial distress, leading to a loss of consumer trust and significant operational risks [1][2][5]. Group 1: Industry Crisis - Recent events in the home improvement sector, including the planned share reduction by Alibaba's shareholders in Red Star Macalline, have caused stock price declines and raised concerns about the industry's stability [1]. - High-profile incidents, such as the suicides of industry leaders from Liangjiajia and Juran Zhijia, highlight the severe struggles within the industry [3][4]. - The financial troubles are not isolated; companies like Dongyi Risheng and Zhufan have also faced bankruptcy and operational crises, indicating a broader industry downturn [4][5]. Group 2: Consumer and Supplier Impact - The ongoing crises have led to a significant loss of confidence among consumers and suppliers, with many facing difficulties in recovering funds and settling debts [2][5]. - The operational failures of companies like Liangjiajia have resulted in incomplete projects for consumers, leaving them with financial losses and unresolved issues [6]. - The prevalent "fund pool" model in the industry has exacerbated financial risks, as companies often misallocate consumer prepayments for other expenses, leading to cash flow issues [6][7]. Group 3: Market Dynamics and Trends - The home improvement market is shifting from new home renovations to the renovation of existing properties, with the proportion of new home renovations dropping from 48.9% in 2020 to 35.9% in 2024 [8][9]. - Despite the overall market challenges, some companies like Oppein and Beike have managed to achieve growth through cost control and leveraging their existing customer bases [9][12]. - The future of the industry may depend on a shift from high turnover and capital reliance to a focus on product quality, service experience, and supply chain integration [10][12].