证券代码：002818 证券简称：富森美 公告编号:2026-001 成都富森美家居股份有限公司 第六届董事会第六次会议决议公告 本公司及除董事长刘兵先生外的董事会全体成员保证信息披露的内容真实、 准确和完整，没有虚假记载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 成都富森美家居股份有限公司（以下简称"公司"）第六届董事会第六次会 议于 2026 年 1 月 6 日 14:10 在公司富森创意大厦 B 座 21 楼会议室以现场和通讯 相结合的方式召开。本次会议通知已于 2025 年 12 月 31 日以电话、微信、书面 通知等方式通知全体董事、高级管理人员。本次会议应出席董事 6 人（董事长刘 兵因被留置未出席本次会议），实际出席现场会议的董事 4 人，公司独立董事许 志和倪得兵先生以通讯方式参与表决，会议由公司代理董事长刘云华主持，公司 高级管理人员除张凤术外列席了本次会议。本次会议的召集和召开符合《中华人 民共和国公司法》和《公司章程》的规定。 会议以记名投票表决方式审议通过如下决议： 审议通过《关于变更公司内部审计负责人的议案》 因公司内部审计负责人唐小玲女士离职，离职后不再担任公司任何职务。为 ...

富森美公告称，第六届董事会第六次会议于2026年1月6日召开，董事长刘兵因被留置未出席。会议审议 通过《关于变更公司内部审计负责人的议案》，因原内部审计负责人唐小玲离职，经董事会审计委员会 提名，董事会聘任刘爽为公司内部审计负责人，任期至第六届董事会任期届满。该议案表决结果为赞成 6票、弃权0票、反对0票。相关公告于2026年1月7日发布。 ...

Core Viewpoint - The company, Fusenmei, has made an investment in Shanghai Tianshu Zhixin Semiconductor Co., Ltd. through a partnership fund, indicating a strategic move into the semiconductor industry [1] Group 1 - In May 2022, Fusenmei announced its investment in Shanghai Tianshu Zhixin Semiconductor Co., Ltd. through Ningbo Dingyinxin Equity Investment Partnership (Limited Partnership) [1] - The company plans to invest 21.2 million yuan in the equity investment fund specifically for the investment in Tianshu Zhixin [1]

证券日报网讯12月31日，富森美（002818）在互动平台回答投资者提问时表示，目前，天府项目运营态 势良好。项目已成功引入家居建材、软装设计、直播电商、数字经济、精品酒店、休闲餐饮及咖啡轻食 等多元化业态，整体活力显著。仍有部分物业正在导入相关业态，招商工作正有序推进，项目出租率呈 现稳步提升的良好趋势。天府项目代表了对传统家居业态的升级与拓展探索，其他省份扩张或复制时机 尚未成熟。 ...

Group 1 - Shanghai Tensu Zhixin Semiconductor Co., Ltd. has passed the listing hearing of the Hong Kong Stock Exchange, marking a significant step towards its IPO [1] - Tensu Zhixin is recognized as a leading provider of general-purpose GPU chips and AI computing solutions in China, with products that are compatible with major AI ecosystems and deep learning frameworks [2] - The company has received investments from Ningbo Dingyin Chip Equity Investment Partnership, which is partly owned by Hainan Fusenmei Investment Co., a wholly-owned subsidiary of Fusenmei [1][2] Group 2 - Fusenmei has actively engaged in external investments, including equity stakes in various sectors such as photovoltaic equipment, energy storage, and AI chips, through multiple investment funds [2] - Some of the projects invested by Fusenmei have shown positive progress, with notable companies like Laplace having gone public on the STAR Market, while others like Tensu Zhixin are preparing for their IPOs [2]

Core Viewpoint - TianShu ZhiXin has successfully passed the listing hearing on the Hong Kong Stock Exchange, marking a significant step towards its IPO as a leading provider of general-purpose GPU chips and AI computing solutions in China [1] Company Overview - TianShu ZhiXin specializes in general-purpose GPU products, including the TianYai and ZhiKai series, which are designed for high performance, easy migration, and broad compatibility with major AI ecosystems and deep learning frameworks [1] - The company is the first in China to achieve mass production of inference and training general-purpose GPU chips, utilizing advanced 7nm process technology [1][2] Product and Market Positioning - The company’s product lineup includes general-purpose GPU chips, accelerator cards, and customized AI computing solutions, integrating hardware with proprietary software stacks to meet specific customer needs in training and inference scenarios [1][2] - TianShu ZhiXin has adopted a core philosophy of hardware-software co-design to strategically position itself in the growing market for general-purpose GPUs driven by the rise of AI technologies [2] Financial Performance - From 2022 to 2024, TianShu ZhiXin experienced rapid revenue growth, with revenues of 189 million, 289 million, and 540 million yuan respectively; in the first half of 2025, revenue reached 324 million yuan, a year-on-year increase of 64.24% [3] - Despite revenue growth, the company reported net losses of 554 million, 817 million, 892 million, and 609 million yuan during the same period due to increased R&D costs [3] Investment and Financing - Since its establishment, TianShu ZhiXin has completed multiple rounds of financing, with notable shareholders including DaCheng Capital, Shanghai Guosheng, and Dingli Capital [3] - The company has attracted investments from firms like FuSenMei, which has a history of investing in high-potential sectors including AI chips [3][4]

Core Viewpoint - Chengdu Hongming Electronics Co., Ltd. successfully passed the IPO review, highlighting the investment opportunities for Fusenmei in the capital market [1] Group 1: Investment Strategy - Fusenmei has been actively participating in the establishment of equity investment funds and direct investments, focusing on emerging industries such as new energy and artificial intelligence [2] - The investment in Hongming Electronics dates back to the end of 2019, when Fusenmei contributed 200 million yuan to the Chengdu Chuanjing Longchu No. 1 Equity Investment Fund, which has a total target subscription of 1.2 billion yuan [2] - Fusenmei has established multiple equity investment funds with various professional investment institutions, indirectly investing in high-quality companies in sectors like photovoltaic equipment and AI chips [2] Group 2: Company Performance - Hongming Electronics is a well-established manufacturer of electronic components, primarily engaged in the R&D, production, and sales of new electronic components, with applications in consumer electronics and new energy sectors [2] - Fusenmei's investment in Hongming Electronics represents a significant milestone, allowing the company to diversify from its traditional home furnishing business and tap into the high-value electronic manufacturing sector [4] Group 3: Financial Performance - From 2020 to 2024, Fusenmei's investment income totaled 43.9 million yuan, with annual returns showing a positive trend [6] - In the first three quarters of the current year, Fusenmei achieved an operating income of 924 million yuan and a net profit of 477 million yuan, indicating stable overall performance despite economic pressures [7] - Compared to competitors like Meikailong and Juran Home, which reported significant losses, Fusenmei stands out as a bright spot in the home furnishing industry [8]

Core Viewpoint - The article discusses the recent turmoil within the home furnishing retail sector in China, particularly focusing on the challenges faced by Fusenmei, a leading home furnishing market player, due to the detention of its executives and declining financial performance [3][4][18]. Group 1: Executive Detention Crisis - Three major home furnishing companies in China have seen their chairpersons detained this year, including Fusenmei's chairman Liu Bing, who was detained on July 24 [3][16]. - Following Liu Bing's detention, Fusenmei's company secretary Zhang Fengshu was also placed under investigation and detained, raising uncertainties about the company's future [17][18]. - The company has stated that it has made arrangements to ensure normal operations during this period, but the situation has led to concerns about internal governance [17][19]. Group 2: Financial Performance and Challenges - Fusenmei has shown a significant reliance on the Chengdu market, with 97.76% of its revenue coming from this region in 2024, which poses risks during market downturns [7][21]. - The company's financial performance has been declining, with a reported revenue of 1.43 billion yuan in 2024, down 6.18% year-on-year, and a net profit of 690 million yuan, down 14.39% [9][24]. - In the first three quarters of 2025, Fusenmei's revenue further declined by 14.35% to 924 million yuan, with a net profit decrease of 12.6% to 477 million yuan [9][24]. Group 3: Industry-Wide Challenges - The home furnishing retail sector is undergoing structural adjustments, with many companies facing similar challenges, including declining demand due to a downturn in the real estate market and changing consumer preferences [10][27]. - Major competitors like Red Star Macalline and Juran Zhijia are also experiencing significant losses, indicating a broader industry crisis [11][26]. - The industry is transitioning from a growth phase to a competitive phase, with many companies struggling with reduced orders and rising costs [27][28]. Group 4: Transformation Efforts - Fusenmei is attempting to shift from a traditional rental model to a service-oriented approach, aiming to create a "home consumption ecosystem" [28]. - However, the success of this transformation is uncertain, and the company's high dividend payouts, which exceeded its net profit in 2024, raise concerns about its financial sustainability during this critical transition period [9][28].

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]