Core Viewpoint - The control of Diou Home (SZ002798) has changed hands to Zhu Jiang, Liu Jin, Chen Wei, and Wu Zhixiong as of June 5, 2023, following the signing of a concerted action agreement. Zhu Jiang is the actual controller of Chengdu Shuihua Hulian Technology Co., which holds 100% of Chengdu Shuihua Zhiyun Technology Co., a significant shareholder of Diou Home [1][2][4]. Group 1: Control Change and Shareholding - On June 5, 2023, Diou Home announced a change in its actual controller to Zhu Jiang and others, indicating a shift in company governance [1][4]. - As of the announcement date, Zhu Jiang and his concerted actors hold a combined 26.46% equity in Diou Home, establishing them as the actual controllers [4][6]. - Prior to this, on May 17, 2023, Shuihua Zhiyun had increased its stake in Diou Home, acquiring approximately 12.87 million shares and 526,200 convertible bonds, bringing their total equity to 5.000011% [2][4]. Group 2: Financial Performance and Challenges - Diou Home has faced declining performance and asset conditions, with a reported accumulated deficit of 1.258 billion yuan as of December 31, 2024, exceeding one-third of its paid-in capital of 394 million yuan [6]. - The company operates in the bathroom and building ceramics sector, with brands including "Diwang" sanitary ware and "Oushinou" ceramics [5][6]. Group 3: Zhu Jiang's Background - Zhu Jiang, born in 1983, is an experienced player in the capital market, having previously been involved with companies such as San Tai Holdings and San Wu Hulian [1][7]. - He has held significant positions in various financial institutions and has been a key figure in several companies, showcasing his extensive experience in corporate governance and investment [8][9].

Core Viewpoint - The recent change in controlling shareholders at Diou Home (002798) involves the addition of Zhu Jiang and others, increasing the total shareholding of the four shareholders to 26.46% [1][2][3] Shareholder Changes - Zhu Jiang, Liu Jin, Chen Wei, and Wu Zhixiong signed a strategic cooperation agreement to enhance the company's convertible bond conversion and liquidity support [2] - The actual controllers of the company are currently Liu Jin, Chen Wei, and Wu Zhixiong, with Zhu Jiang being added as a new controller [2] - Zhu Jiang, who controls Chengdu Shuihua Interconnection Technology Co., has committed to reducing the company's convertible bond balance and providing liquidity support when necessary [2][3] Shareholding Structure - Prior to the agreement, Liu Jin, Chen Wei, and Wu Zhixiong held a combined equity stake of 23.2%, which increased to 26.46% after Zhu Jiang's inclusion [3] - Zhu Jiang and his associates hold a total of 3.26% of the shares, with a combined equity stake of 6.45% when including convertible bonds [3] Company Performance - Diou Home has faced declining revenues and continuous losses due to the ongoing adjustments in the real estate sector, reporting a net loss of 569 million yuan last year [4] - In the first quarter of this year, the company reported a net loss of 44.07 million yuan [4] Strategic Initiatives - The company is focusing on channel strategy transformation, product structure improvement, and cost reduction to enhance core business resilience [5] - The gross margin for the tile business improved to 21.06% in the first quarter of 2025, an increase of 2.89 percentage points compared to the previous year [5] Industry Outlook - The home building materials industry is expected to benefit from increased support for the real estate market, which may drive demand for building ceramics and sanitary products [5] - The government is expected to implement policies to boost domestic demand, including subsidies for home renovation and smart home consumption, which could significantly release consumer demand in the home building materials sector [5] - The industry is experiencing accelerated capacity upgrades, which may lead to a further increase in market concentration [5]

| 证券代码：002798 | 证券简称：帝欧家居 | 公告编号：2025-053 | | --- | --- | --- | | 债券代码：127047 | 债券简称：帝欧转债 | | 帝欧家居集团股份有限公司 关于公司实际控制人签署《战略合作协议》《一致行动协 议》暨控制权变更的提示性公告 本公司及全体董事会成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 重要内容提示： 1、朱江先生系成都水华互联科技有限公司（简称"水华互联"）实际控制 人，水华互联系帝欧家居集团股份有限公司（以下简称"公司"或"帝欧家居" 或"上市公司"）持股 5%以上股东成都水华智云科技有限公司（以下简称"水 华智云"）的控股股东（100%持股）。 2、一致行动方面：朱江先生、刘进先生、陈伟先生、吴志雄先生签署《一 致行动协议》，上市公司实际控制人由刘进先生、陈伟先生、吴志雄先生变更为 朱江先生、刘进先生、陈伟先生、吴志雄先生。任一方拟就公司经营发展的重大 事项向董事会、股东会（包含股东大会、股东会，以下统称股东会）提出议案之 前，或在行使董事会、股东会等事项的表决权之前，各方应先对相关议案或表决 事 ...

帝欧家居集团股份有限公司 关于公司股票及可转换公司债券复牌的提示性公告 本公司及全体董事会成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或者重大遗漏。 | 证券代码：002798 | 证券简称：帝欧家居 | 公告编号：2025-054 | | --- | --- | --- | | 债券代码：127047 | 债券简称：帝欧转债 | | 特别提示： 帝欧家居集团股份有限公司（以下简称"公司"）股票（证券代码：002798， 证券简称：帝欧家居）及可转换公司债券（债券代码：127047 ，债券简称：帝 欧转债）自 2025 年 6 月 6 日（星期五）开市起复牌，可转换公司债券于同日恢 复转股。 一、停牌及暂停转股的原因及日期 公司因控股股东、实际控制人刘进先生、陈伟先生和吴志雄先生筹划一致行 动变更等事项，该事项可能涉及公司控制权变更。鉴于该事项存在重大不确定性， 为保证公平信息披露，避免公司股价异常波动，维护广大投资者利益，经公司向 深圳证券交易所申请，公司股票（证券代码：002798，证券简称：帝欧家居）及 可转换公司债券（债券代码：127047，债券简称：帝欧转债）自 2025 年 ...

帝欧家居（002798）公告，朱江先生、刘进先生、陈伟先生、吴志雄先生于2025年6月5日签署了《战略 合作协议》和《一致行动协议》。根据协议，朱江先生及其一致行动人(水华智云/张芝焕)合计持有公司 权益比例为26.46%，成为公司实际控制人。此前，刘进先生、陈伟先生、吴志雄先生为一致行动人， 合计持有公司权益比例为23.20%。此次权益变动不涉及相关方各自持股数量的增减变动，亦不会对公 司控制权的稳定性、日常生产经营产生重大影响。 ...

Core Viewpoint - The article discusses the potential change in control of Diou Home (002798.SZ), a leading company in the bathroom industry, as its major shareholders are planning to reorganize their shareholding structure, which may lead to a change in the company's control [2][4]. Group 1: Company Overview - Diou Home is one of the earliest bathroom manufacturing enterprises in China, having expanded into the ceramic industry through acquisitions. It owns two major brands: "Diwang" sanitary ware and "Oushennu" ceramics, covering a full range of tiles and bathroom products [10]. - The company has six production bases located in Chengdu, Chongqing, Foshan, Guangxi, and Jingdezhen [10]. Group 2: Financial Performance - Diou Home has reported continuous losses for three consecutive years, with total losses amounting to 2.7 billion yuan. Its total assets have decreased from 11 billion yuan to approximately 6 billion yuan [4][11]. - The company's revenue has declined from 41.12 billion yuan in 2022 to 27.41 billion yuan in 2024, with net profits of -15.09 billion yuan, -6.58 billion yuan, and -5.69 billion yuan during the same period [11]. - In the first quarter of 2025, the company's revenue continued to decline by 10.16% to 507 million yuan, with a net loss of 44.07 million yuan, which is a slight improvement compared to the previous year [11]. Group 3: Shareholding Changes - The major shareholders, Liu Jin, Chen Wei, and Wu Zhixiong, are planning to reorganize their shareholding structure, which may involve a change in control of the company. They currently hold 7.87%, 7.72%, and 7.62% of the shares, respectively [7][11]. - Zhu Jiang, another shareholder, has increased his stake in Diou Home to over 6.45%, making him the fifth-largest shareholder [7][8]. - The Sichuan Capital Market Rescue Fund, which was introduced in 2022 to help the company, remains the fourth-largest shareholder, holding 21.89 million shares, equivalent to 5.55% of the total shares [11]. Group 4: Market Context - The article highlights the challenges faced by the home furnishing market, particularly due to the sluggish real estate sector and increasing competition among brands [8][10]. - Despite the current difficulties, there are expectations for a rebound in demand for home improvement and smart home products due to government policies aimed at boosting domestic consumption [12].

Core Viewpoint - The recent surge in control changes among home furnishing companies reflects a significant reshuffling and self-rescue efforts within the industry amid a deep adjustment period in real estate [1][2][12] Group 1: Control Changes - On May 30, Yazhen Home (ST Yazhen) announced a change in its controlling shareholder, with Wu Tao acquiring a 29.99996% stake, reducing the original controlling party's voting rights to 10% [1] - On June 3, Filinger officially announced that private investor Jin Yawei acquired a 25% stake for approximately 700 million yuan, becoming the new controlling party, with the original shareholders nearly exiting [1] - On the same day, Diou Home suspended trading due to plans for a control change, with potential acquirer Zhu Jiang from Waterhua Zhiyun indicated as the new controlling party [1] Group 2: Industry Challenges - The core driving force behind the frequent equity changes is the deteriorating fundamentals of the industry, with Filinger's revenue expected to decline by 14.86% in 2024 and a net loss of 37.3 million yuan [2][4] - Diou Home has reported continuous losses since 2022, while Yazhen Home has been placed under delisting risk warnings due to operational difficulties [2][4] Group 3: Business Models and Market Conditions - The main businesses of the three companies—wood flooring & custom home furnishings, finished furniture, and sanitary ceramics—are deeply tied to the real estate industry [4] - The ongoing decline in new housing sales and extended completion cycles pose severe challenges to their traditional business models, compounded by intense internal competition and high channel costs [4] Group 4: New Capital and Strategic Intent - New capital entering the industry during this downturn represents a revaluation of distressed assets and resource restructuring [6] - Jin Yawei, as a financial investor, aims to leverage Filinger's brand value and channel network, while Wu Tao emphasizes operational control and board restructuring at Yazhen [6][11] - Zhu Jiang's potential acquisition of Diou may indicate opportunities for upstream and downstream technological collaboration or supply chain integration [8] Group 5: Future Directions and Challenges - The new controlling parties face the challenge of leading the companies away from dependence on real estate and establishing sustainable growth avenues [11][12] - Key strategies for breaking through include tapping into the existing housing market, transforming channels, and enhancing product innovation through sustainable materials and smart upgrades [12] - The industry is entering a deep integration phase, with increasing losses among larger enterprises and a trend of accelerated exit among smaller firms [12][13] Group 6: Observations on Control Changes - The entry of new capital provides a breathing space for distressed companies but does not resolve the core issues stemming from the mismatch between past growth reliance on real estate and current market conditions [13] - Successful transformation requires a shift away from real estate dependency, a commitment to substantial investments in R&D and production, and stable governance to avoid strategic missteps [13]

Core Viewpoint - The announcement from Diou Home (002798.SZ) indicates that the company's major shareholders are planning to change their concerted action, which may involve a change in control of the company [1][7]. Group 1: Shareholder Actions - The controlling shareholders Liu Jin, Chen Wei, and Wu Zhixiong are in discussions regarding potential changes that could affect the company's control [1]. - The actual controller of Chengdu Shuihua Zhiyun Technology Co., Ltd., which holds over 5% of the shares, is involved in this matter [1][7]. - The company has applied for a trading halt to ensure fair information disclosure and to protect investor interests, with the halt expected to last no more than two trading days [5]. Group 2: Stock Performance - Following the announcement, Diou Home's stock price surged to a limit-up of 5.69 CNY per share, marking a 10.06% increase, while the bathroom products index only rose by 0.24% on the same day [5][6]. - The stock trading volume reached 1.08 million shares, indicating significant investor interest [6]. Group 3: Financial Performance - Diou Home has faced significant financial challenges, reporting a cumulative net loss exceeding 2.5 billion CNY from 2022 to 2024 [7]. - In Q1 2025, the company reported revenue of 507 million CNY, a year-on-year decline of 10.16%, and a net loss of 44 million CNY, with a slight year-on-year increase of 1.26% [7].

Key Developments - China Shipbuilding elected Hu Xianfu as the chairman of the board, with a term until the board's term ends [2] - CITIC Bank received approval to establish Xinyin Financial Asset Investment Co., with a registered capital of RMB 10 billion, aimed at supporting "technology finance" development [3] - Dazhu CNC submitted an application for H-share issuance and listing on the Hong Kong Stock Exchange, reporting a 104.56% increase in revenue to RMB 3.343 billion in 2024 [5] - Hunan Hualing Cable's private placement was approved, aiming to raise up to RMB 1.2149 billion for various projects [7] - Dataport received approval for a bond issuance of up to RMB 1.2 billion [8] - Su Yan Jingshen received approval for a private placement to raise up to RMB 1.8 billion [9] Corporate Announcements - Zhonghaida's subsidiary Xi'an Lingjing Technology was ruled for bankruptcy liquidation, with no significant impact on the parent company's operations [11] - Diou Home's major shareholders are planning changes that may affect control, leading to a temporary suspension of trading [13] - Dadi Ocean plans to acquire 100% of Zhejiang Huguo Waste Management for RMB 135 million [14] - Haomei New Materials adjusted its share repurchase price limit to RMB 45 per share [15] - Rui De Intelligent adjusted its share repurchase price limit to RMB 41.71 per share [16] - Haosai elected Dai Congqi as chairman of the board [17] - Yinlun shares adjusted its share repurchase price limit to RMB 35.88 per share [18] - Jinzi Ham's control changed to Zheng Qingsheng, who became the new controlling shareholder [19] - United Optoelectronics plans to acquire 100% of Changyi Optoelectronics, enhancing manufacturing capabilities [20] - Luoping Zinc's major shareholder signed an agreement to transfer 22.4% of shares [21] - Hualing Steel plans to introduce five external investors to increase capital by RMB 1.5 billion [22] - *ST Xinyan is undergoing restructuring due to creditor applications [23] - Cixing plans to acquire 75% of Shenyang Shunyi Technology, entering the defense technology sector [24] - Filinger's actual controller will change to Jin Yawei after a share transfer [25] - Shenyang Machine Tool plans to increase capital in its subsidiary by RMB 250 million [26] - Sansteel Mingguang's chairman resigned due to work reasons [27] - Huakong Saige's chairman and other executives resigned due to personnel adjustments [28] - Xinji Energy's chairman resigned due to age reasons [30] - CITIC Securities received approval to issue up to RMB 15 billion in technology innovation bonds [31] - Del Shares plans to invest approximately RMB 300 million in new lithium battery projects [32] - Wanrun Shares' chairman resigned due to work adjustments [33] - Yingte Group's subsidiary successfully acquired 100% of Huadong Pharmaceutical for RMB 369 million [34] - Junda Shares' H-shares were included in the Hong Kong Stock Connect list [35]

Group 1 - The company is planning a change in control involving its major shareholders, which may lead to a change in the company's control structure [1][2] - The company's stock will be suspended for up to 2 trading days to prevent abnormal price fluctuations during this period [1] - The convertible bonds of the company will also be suspended during the stock suspension, in accordance with regulations [1] Group 2 - The company will fulfill its information disclosure obligations as per legal requirements and will announce further developments regarding the control change [2]