Core Viewpoint - Chengdu Fusenmei Home Furnishing Co., Ltd. held an online performance briefing on September 12, 2025, to discuss strategies for improving return on equity (ROE) amid challenging market conditions [1] Group 1: Performance Improvement Strategies - The company plans to enhance ROE by closely monitoring macroeconomic conditions, policies, market trends, and consumer demand, focusing on three main strategies: large market engagement, deep operations, and innovation in business models [1] - The company aims to address the insufficient performance of the Tianfu project and the declining ROE at the main site near the South Railway Station [1] Group 2: Tianfu Project Overview - The Tianfu project is positioned as a comprehensive complex integrating new economic industries and commercial scenarios, featuring a "Headquarters Port + Live Broadcast Port" model [1] - The total investment in the Tianfu project exceeds 1.7 billion yuan, with an annual amortization of over 50 million yuan [1] - The project is currently in the招商 (investment attraction) phase, having attracted notable brands such as KK Home and Gujia Home [1] Group 3: Business Expansion Plans - The home decoration and building materials market is vast, and the company will continue to promote its three strategic initiatives, with specific updates to be provided in regular reports [1] - The Tianfu project is expected to enhance revenue once fully operational, with ongoing updates to be shared in future reports [1] Group 4: Market Adaptation and Operational Stability - The company is adapting to changes in the existing housing market by providing professional services to clients in renovation and improvement projects [1] - The company maintains a stable overall operation and healthy financial status, with a significant reduction in advance payments due to rental discounts under a "tiered pricing, tailored strategies" policy [1]

Group 1: Financial Performance and Strategies - The Tianfu project has been consolidated into the company's financials, but its overall contribution to performance is not yet significant, with expectations of substantial amortization in the future [1] - The company plans to enhance its Return on Equity (ROE) by closely monitoring macroeconomic conditions and implementing three strategic initiatives: market strategy, deep operation strategy, and innovation in business models [1] - The Tianfu project has a total investment exceeding 1.7 billion CNY, with an annual amortization of over 50 million CNY [2] Group 2: Project Details and Market Positioning - The Tianfu project is a comprehensive development that integrates live streaming, commercial consumption, and ecological experiences, with independent accounting for all commercial components [2] - The project is located in the Tianfu Headquarters Business District and includes various facilities such as corporate headquarters, flagship stores, and a live streaming industry ecological park [2] - The project aims to create a "curated commercial" experience by merging art, design, and lifestyle, with notable brands already onboard, including "Three Wings Bird" smart home experience center and other industry representatives [3] Group 3: Market Trends and Consumer Behavior - The home decoration and furnishing industry has a vast consumer base with a market size exceeding 10 trillion CNY, and the company is adapting to changing consumer demands for experience and value [2] - The company is actively adjusting its merchant structure and service offerings to better meet the needs of customers in the existing housing market [3] Group 4: Corporate Governance and Future Outlook - The company maintains a stable financial position with low debt ratios and strong cash flow, despite a significant reduction in advance payments in Q2 [4] - The company assures that the recent legal issues involving a board member will not impact its dividend policy or overall business operations [4]

Core Viewpoint - The company emphasizes its commitment to social responsibility and community support through various charitable activities and initiatives led by its management team [1][3][5]. Group 1: Community Engagement - The company has been actively involved in community service since 2002, providing essential supplies to vulnerable groups during festive seasons [3]. - It collaborates with local businesses to offer employment training and opportunities for unemployed individuals in the community [3][5]. - The company has established partnerships with public transport services to enhance accessibility for residents [3]. Group 2: Social Responsibility Initiatives - The company participates in rural revitalization efforts, focusing on infrastructure development, educational support for children, and assistance for struggling families in remote areas [3][5]. - It has formed volunteer teams and organizations to coordinate various charitable activities, including home improvement consultations and disaster relief efforts [5]. - The company has successfully created over 2,000 job opportunities through collaborative efforts with local merchants [5]. Group 3: Leadership and Advocacy - The company’s leadership actively engages in local government activities, providing insights and suggestions for economic development and consumer expansion [6]. - It aims to explore new models of public welfare and support to meet the evolving needs of the community [6].

Core Viewpoint - Chengdu Fusenmei Home Furnishing Co., Ltd. will participate in the "2025 Investor Online Collective Reception Day and Semi-Annual Report Performance Briefing" to enhance interaction with investors [1] Group 1 - The event will be held online on September 12, 2025, from 14:00 to 17:00 [1] - Company executives will communicate with investors regarding the company's 2024 annual and 2025 semi-annual performance, governance, development strategy, operational status, financing plans, and sustainable development [1] - Investors are encouraged to participate actively in the event through the "Panorama Roadshow" platform [1]

为进一步加强与投资者的互动交流，成都富森美家居股份有限公司（以下简 称"公司"）将参加由四川省上市公司协会、深圳市全景网络有限公司联合举办 的"四川辖区 2025 年投资者网上集体接待日及半年度报告业绩说明会"活动， 现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" （https://rs.p5w.net）参与本次互动交流，活动时间为 2025 年 9 月 12 日（周 五）14:00-17:00。届时公司高管将在线就公司 2024 年度及 2025 年半年度业绩、 公司治理、发展战略、 经营状况、融资计划和可持续发展等投资者关心的问题， 与投资者进行沟通与交流，欢迎广大投资者踊跃参与！ 证券代码：002818 证券简称：富森美 公告编号：2025-030 成都富森美家居股份有限公司 关于参加举办四川辖区2025年投资者网上集体接待日及半年度 报告业绩说明会活动的公告 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、完整，没有虚假记载、误导性陈述或重大遗漏。 特此公告。 成都富森美家居股份有限公司 董事会 二〇二五年九月八日 ...

Group 1 - The company, Fusenmei, has 12 self-operated stores located in Chengdu, covering a total area of over 1.25 million square meters [1] - The company also manages 4 franchised stores in Meishan, Luzhou, and Zigong, with a total area exceeding 300,000 square meters [1]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, but maintained strong profitability and a healthy financial structure despite industry challenges [1][2]. Financial Performance - For the first half of 2025, the company achieved operating revenue of 649 million yuan, a year-on-year decrease of 11.55% [1]. - The net profit attributable to shareholders was 318 million yuan, down 6.35% year-on-year [1]. - As of June 30, total assets amounted to 6.73 billion yuan, with shareholders' equity at 5.62 billion yuan, indicating a healthy asset-liability structure and ample cash flow [1]. - The board proposed a cash dividend of 3.6 yuan per 10 shares (before tax), totaling 269 million yuan, which represents 84.59% of the net profit for the first half [1]. Strategic Initiatives - The company is actively responding to challenges in the building materials and home furnishing industry by implementing three core strategies: "Big Market Strategy," "Deep Operation Strategy," and "Innovation in Business Formats and Models" [1]. - In terms of merchant recruitment, the company adopted a "graded pricing" strategy to optimize brand structure and product mix, achieving comprehensive coverage of merchants and efficient resource integration [1]. - Operational improvements were made through brand optimization and empowering small and medium-sized merchants, fostering a collaborative ecosystem in the marketplace [1]. Marketing and Innovation - The company capitalized on the "national subsidy" policy, enhancing merchants' customer acquisition capabilities [2]. - In the first half of 2025, the company hosted three large-scale offline marketing events attracting over 80,000 participants, alongside three online thematic events with over 30 million content exposures and more than 40,000 order conversions [2]. - The company is advancing the innovation and upgrade of the Fushenmei Tianfu project, creating a new commercial platform that integrates smart living, aesthetic experiences, and design communication [2].

Group 1 - The company has revised its articles of association, which will be submitted for approval at the 2025 first extraordinary shareholders' meeting [1][3] - The revised internal control systems include rules for shareholder meetings, board meetings, independent director work, and related party transactions, among others, which also require approval at the upcoming shareholders' meeting [3][4] - The company will hold its 2025 first extraordinary shareholders' meeting on September 18, 2025, with both on-site and online voting options available [6][8] Group 2 - The meeting will be convened by the company's board of directors and is compliant with relevant laws and regulations [7] - Shareholders must register to attend the meeting, with specific requirements for natural and legal persons outlined [11][14] - Voting will occur through the Shenzhen Stock Exchange trading system and an internet voting system, with detailed procedures provided for shareholders [20][26]

Core Insights - Chengdu Fusenmei Home Furnishing Co., Ltd. reported a revenue of 649 million yuan for the first half of 2025, with a net profit attributable to shareholders of 318 million yuan and a net operating cash flow of 635 million yuan [1] Financial Performance - The company achieved an operating revenue of 649 million yuan [1] - The net profit attributable to shareholders reached 318 million yuan [1] - The net operating cash flow amounted to 635 million yuan [1] Dividend Announcement - The company announced a mid-term dividend plan, proposing a cash dividend of 3.6 yuan (including tax) for every 10 shares, totaling approximately 269 million yuan to be distributed to all shareholders [1]

Core Insights - In the first half of 2025, the company reported a revenue of 649 million yuan, a year-on-year decrease of 11.55%, and a net profit of 318 million yuan, down 6.35% [1] - Despite the decline in performance, the overall operational performance remains stable amid macroeconomic pressures and a sluggish consumer market [1] - The company proposed a cash dividend of 3.6 yuan per 10 shares, totaling 269 million yuan, continuing its tradition of high dividends to reward investors [1] Financial Performance - As of June 30, 2025, the company had total assets of 6.73 billion yuan and net assets of 5.621 billion yuan, with a low debt-to-asset ratio of 16%, indicating an improving financial structure [1] - The operating cash flow net amount reached 635 million yuan during the reporting period, maintaining robust core financial indicators [1] Market Position and Strategy - The company has established itself as a leader in the home furnishing distribution sector, with over 3,500 partner merchants and a strong market share in Southwest China [1] - The company is innovating its business model through the establishment of a new OMO team to accelerate the integration of online and offline operations, creating an ecosystem of "online traffic + offline experience" [2] - The company has successfully reached over 4 million online interactions and converted over 40,000 orders in the Chengdu area in the first half of the year [2] Asset Utilization and Innovation - The company owns 1.25 million square meters of self-owned property in core business districts of Chengdu, providing stable rental income and creating a defensive "moat" against industry fluctuations [2] - The company is expanding its product categories and brands, launching several first stores in the region, including the Tmall Genie smart home global flagship store and the Huawei green energy store [2][3] - A new project, combining live streaming and curated commercial spaces, aims to redefine the future of home furnishing malls, featuring various e-commerce models and partnerships with leading brands [3]