根据富森美2022年5月披露的公告，海南投资与鼎礼资本投资管理(徐州)有限公司等共同投资宁波鼎寅 芯，该合伙企业规模为5294万元，海南投资以自有资金认缴出资2120万元，认缴比例为40.05%。另据 富森美2022年年报，2022年4月22日，宁波鼎寅芯与天数智芯签署《增资协议》和《股东协议》，以 4100万元的投资金额，认购注册资本91.57万元，持股比例为0.54%。2022年7月，天数智芯完成C+轮及 C++轮融资(宁波鼎寅芯投资是C++轮)。 天数智芯的官网显示，其是中国领先的通用GPU芯片及AI算力解决方案提供商。公司通用GPU产品涵 盖天垓及智铠系列，具有优效能、易迁移、高通用等领先优势，全面兼容国内外主流AI生态以及各类 深度学习框架。 中证报中证网讯(记者吴科任)据港交所网站12月19日消息，当日上海天数智芯半导体股份有限公司披露 聆讯后资料集，标志着公司已通过香港联合交易所上市聆讯。 记者注意到，天数智芯股东阵营中闪现A股上市公司富森美（002818）的身影。天眼查显示，天数智芯 的股东之一宁波鼎寅芯股权投资合伙企业(有限合伙)的最大合伙人为海南富森美投资有限责任公司，后 者系富森美的全资 ...

在经营业绩方面，2022年至2024年期间，天数智芯实现快速增长，营业收入分别为1.89亿元、2.89亿元 和5.40亿元；2025年上半年，天数智芯实现营收3.24亿元，同比增长64.24%，毛利率由2024年同期的 45.1%增长至50.1%。但在上述时间段内，由于研发成本增加等因素，天数智芯净亏损金额为5.54亿元、 8.17亿元、8.92亿元和6.09亿元。 自成立以来，天数智芯已完成多轮融资，股东包括大钲资本、上海国盛、中关村科学城科技成长基金、 熙诚致远、鼎祥资本、鼎礼资本等。 值得关注的是，上周五(12月12日)押中宏明电子IPO成功过会的富森美（002818），又在三年前投资了 天数智芯。 据天数智芯官网披露，该公司是中国领先的通用GPU芯片及AI算力解决方案提供商，天数智芯通用 GPU产品涵盖天垓及智铠系列，具有优效能、易迁移、高通用等领先优势，全面兼容国内外主流AI生 态以及各类深度学习框架。从系统架构、指令集，到核心算子、软件栈，均为自主研发，可独立发展演 进。 进一步来看，天数智芯产品组合主要包括通用GPU芯片及加速卡，以及定制AI算力解决方案(包括通用 GPU服务器及集群)，将天数智 ...

12月12日，深交所上市审核委员会召开2025年第29次审议会议，审议成都宏明电子股份有限公司(以下 简称"宏明电子")首发事项，最终该公司成功过会。 宏明电子IPO的顺利过会，让背后的投资方富森美（002818）再次进入资本市场视野。 在A股市场投融资热潮下，富森美近年来正通过密集的对外投资，取得了丰厚的收益。从一级市场股权 押注到定增布局，再到高频次担任有限合伙人(LP)参与产业基金，富森美的投资触角已延伸至半导体、 新能源、电子信息等多个高成长领域。 参与设立股权投资基金布局新兴赛道 近年来，富森美持续通过参与设立股权投资基金、直接投资等多样化的投资模式，聚焦于新能源、人工 智能等新兴产业机会，宏明电子便是其中之一。 进一步来看，对于宏明电子的这笔投资可追溯至2019年底。彼时，富森美参与发起设立成都川经龙雏壹 号股权投资基金合伙企业(有限合伙)(以下简称"龙雏壹号")，该基金目标认缴出资总额为12亿元，其中 富森美以自有资金认缴2亿元。 资料显示，宏明电子是国内老牌电子元器件制造商，主要从事以阻容元器件为主的新型电子元器件的研 发、生产和销售，致力于向客户提供高性能、高可靠性的电子元器件产品。同时，公 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 高管深陷留置危机！家居卖场龙头这是咋了？ 家居卖场的生意究竟有多少见不得人的秘密？ 今年以来，国内三家家居卖场企业董事长均被留置。 其中，引起轩然大波的是居然智家创始人、前任董事长汪林朋，在立案调查3个月后，汪林朋在解除留 置后数日不幸身故。红星美凯龙创始人、董事兼总经理车建兴在今年5月份被留置。剩下一人，就是富 森美的董事长刘兵。 今年7月24日，富森美（002818.SZ）的主要创始人、董事长刘兵才刚被被成都市郫都区监察委员会进行 留置。 如今刘兵还未解除留置，董秘又出事了。 来源：翠鸟资本 文|翠鸟资本 11月25日，富森美发布公告称，公司副总经理、董事会秘书张凤术被崇州市监察委员会立案调查并实施 留置措施。这位自2009年就加入富森美、年薪百万的高管突然被查，给这家成都老牌家居卖场的未来发 展增添了不确定性。 在张凤术被留置期间，其职责由副总经理、财务总监王鸿代行。富森美在公告中强调，公司已对相关工 作做了妥善安排，董事会正常运作，该事项不会对公司的生产经营产生重大影响。 2009年3月，张凤术加入富森美，同年11月起担任公司董 ...

Core Viewpoint - The recent detention of two senior executives at Fusenmei raises concerns about potential systemic internal control deficiencies within the company, despite the management's assertion that these issues are unrelated to the company's operations [1][6]. Group 1: Executive Detention - Fusenmei announced that its Vice President and Board Secretary, Zhang Fengshu, is under investigation and has been detained, following the earlier detention of Chairman Liu Bing in July [2][3]. - During the detention, Zhang Fengshu is unable to fulfill his duties, and the company has appointed the CFO, Wang Hong, to temporarily take over these responsibilities [2]. - The company has stated that it is currently unaware if the detentions are related to the same case and will continue to monitor the situation [3]. Group 2: Shareholding Structure - Liu Bing, the controlling shareholder and chairman, along with his family members, holds over 80% of Fusenmei's shares, raising questions about concentrated family power and governance issues [4][6]. - The three family members, Liu Bing, Liu Yunhua, and Liu Yi, are all founders of Fusenmei and have a significant influence on the company's operations [5][6]. - Fusenmei maintains that it operates independently from its controlling shareholders and has a robust governance and internal control mechanism in place [6][7]. Group 3: Company Operations - Despite the detentions, Fusenmei asserts that its overall operations and governance remain normal, with no significant impact on production or management [7]. - The company emphasizes that all other directors and senior management are continuing their duties without interruption [7].

Group 1 - The company Chengdu Fusenmei Home Furnishing Co., Ltd. announced that its Vice General Manager and Board Secretary Zhang Fengshu is under investigation and has been placed under detention, following the earlier detention of the Chairman and actual controller Liu Bing in July [2] - During Zhang Fengshu's detention, his responsibilities as Board Secretary will be temporarily assumed by Vice General Manager and Chief Financial Officer Wang Hong [5] - The company emphasized that its production and operations remain normal and that this incident will not have a significant impact on its business operations [5] Group 2 - The consecutive detentions of high-level executives reflect a deep adjustment within the home furnishing industry, with a significant decline in new housing sales area and sales volume since 2024, leading to a sharp decrease in home decoration demand [6] - Fusenmei has reported a decline in revenue and net profit for eight consecutive quarters, indicating ongoing financial pressure [6] - Despite the challenging performance, the company has maintained a high dividend payout ratio, with a total cash dividend of 808 million yuan in 2024, resulting in a dividend ratio of 117.11%, which has attracted considerable market attention [6]

Core Viewpoint - The company, Fusenmei, is facing significant turmoil with both its chairman and board secretary under investigation and detained, raising concerns about its operational stability and future performance [1][2]. Company Overview - Fusenmei is a well-known home furnishing retail company in Southwest China, primarily based in Chengdu, Sichuan, and is characterized as a "small but beautiful" enterprise in the industry [1]. - The company has a history of generous dividend payouts, distributing over 2.4 billion yuan in dividends over the past three years, which is nearly equivalent to its net profit of 2.333 billion yuan during the same period [2]. Recent Developments - The board secretary, Zhang Fengshu, has been placed under investigation and detention, following the earlier detention of chairman Liu Bing, which has raised concerns about the company's governance [1][2]. - Despite the announcement that operations remain normal, the company's stock price has declined over 10% since Liu Bing's detention, resulting in a market value loss of approximately 935 million yuan [2]. Financial Performance - Fusenmei's financial performance has deteriorated, with a reported revenue of 629 million yuan in the first half of the year, a year-on-year decline of 11.55%, marking the worst mid-year performance since 2021 [3][5]. - The net profit attributable to shareholders was 318 million yuan, down 6.35% year-on-year, while cash flow from operating activities also fell by 7.16% [3]. - The company has experienced a significant drop in revenue from its decoration and renovation services, which fell by approximately 48.39% to 22.09 million yuan [3][4]. Industry Context - The home furnishing industry is currently facing challenges, with Fusenmei's performance impacted by a sluggish recovery in the real estate market, leading to overall pressure on the building materials and home furnishing sectors [3][5]. - Fusenmei is not alone in facing governance issues, as other home furnishing companies have also seen their leaders detained this year, raising broader concerns about the industry's stability [5].

Group 1 - The core point of the article is that Fusenmei (002818) reported a total of 22,142 shareholders as of November 20, 2025 [1]

Core Viewpoint - The recent detention of two senior executives at Fushenmei raises concerns about potential systemic internal control deficiencies within the company, despite the company's assertion that these matters are personal and unrelated to the company itself [2][3][6]. Group 1: Executive Detention - Fushenmei announced that Vice General Manager and Board Secretary Zhang Fengshu has been placed under investigation and detention, following the earlier detention of Chairman Liu Bing in July [3][4]. - During the detention period, Zhang Fengshu is unable to fulfill his duties as Board Secretary, and the company has appointed Financial Director Wang Hong to temporarily assume these responsibilities [3]. - The company has stated that it is currently unaware if the detentions are related to the same case and will continue to monitor the situation while fulfilling its information disclosure obligations [4]. Group 2: Shareholding Structure - Liu Bing, the controlling shareholder and Chairman, along with Liu Yunhua and Liu Yi, who are also family members, collectively hold over 80% of Fushenmei's shares, raising questions about concentrated family power and governance issues [5][6]. - The shareholding breakdown indicates that Liu Bing holds 43.70% of the shares, and all three individuals are co-founders of the company, established in 2000 [6]. - Fushenmei has emphasized that it operates independently from its controlling shareholders and maintains a robust governance and internal control mechanism, asserting that there are no systemic internal control deficiencies [6].

Core Viewpoint - The company, Fusenmei, is currently facing significant management challenges due to the detention of its executives by local authorities, which may impact its operational stability and governance [1] Group 1: Executive Detention - Fusenmei announced that its Vice President and Board Secretary, Zhang Fengshu, is under investigation and has been detained by the Chongzhou Municipal Supervisory Committee [1] - During Zhang's detention, the company has appointed Wang Hong, the Vice President and Chief Financial Officer, to temporarily assume the responsibilities of the Board Secretary [1] - This incident follows the earlier detention of the company's Chairman, Liu Bing, by the Chengdu Pidu District Supervisory Committee, which occurred on July 24 [1] Group 2: Management Arrangements - In light of Liu Bing's detention, the company appointed Liu Yunhua, the Vice Chairman and Liu Bing's sister, to take over the Chairman's responsibilities [1] - The company has stated that it has made appropriate arrangements to ensure continuity in its operations during this period of leadership uncertainty [1]