Core Viewpoint - The company, Shangpin Home, anticipates a net profit loss of 200 million to 250 million yuan for the year 2025, continuing the trend of losses from the previous year [1]. Financial Performance - The expected net profit attributable to shareholders is projected to be between -200 million and -250 million yuan, with a net profit loss after deducting non-recurring gains and losses estimated at -216 million to -266 million yuan [1]. - In the reporting period, the company's revenue has decreased significantly from 73.10 billion yuan in 2021 to 37.89 billion yuan in 2024, representing a nearly 50% decline [5]. - For the first three quarters of 2025, the company achieved revenue of 2.55 billion yuan, a year-on-year decrease of 6.66%, with a net profit loss of 79.48 million yuan, although this loss has narrowed by 30.38% compared to the previous year [7]. Operational Challenges - The company attributes its ongoing losses to the prolonged downturn in the real estate market, which has led to sustained pressure on demand within the home furnishing industry [3]. - Despite efforts to innovate and optimize operations, including the application of AI technology and restructuring of business models, the company continues to face challenges that have resulted in declining revenue and pressure on gross margins [3]. Financial Health - As of the end of the third quarter of 2025, accounts receivable surged by 121.22% year-on-year, reaching 442 million yuan, indicating potential liquidity issues [8]. - The net cash flow from operating activities was -171 million yuan, a decline of 75.95% year-on-year, raising concerns about the company's financial stability [8]. - The company faces significant debt pressure, with short-term borrowings amounting to 1.03 billion yuan and cash and cash equivalents of only 1.034 billion yuan, indicating that cash is nearly insufficient to cover short-term liabilities [8].

尚品宅配公告，预计2025年度归母净利润亏损2.5亿元至2亿元，上年同期为亏损2.15亿元。受房地产市 场持续低迷的传导拖累，家居行业整体需求端持续承压。面对行业下行压力，公司主动出击、积极破 局，在AI技术深化应用、门墙柜一体化布局、渠道结构优化升级、整装业务模式革新、海外布点加速 等关键领域持续发力，同时坚定不移推进降本增效与精细化费用管控，以一系列务实举措稳步积蓄发展 动能。但受房地产行业下行态势的持续影响，公司整体经营业绩承压，营业收入同比有所下滑；叠加部 分成本具有刚性特征，毛利率面临一定压力，最终导致净利润仍然亏损。 ...

证券代码：300616 证券简称：尚品宅配 公告编号:2026-002 号 广州尚品宅配家居股份有限公司 2025 年度业绩预告 本公司及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。 一、本期业绩预计情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2、业绩预告情况：预计净利润为负值 （1）以区间数进行业绩预告的 | 项 | 目 | | 本报告期 | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司 | | -25,000 | ～ | -20,000 | -21,536.69 | | 股东的净利润 | | | | | | | 扣除非经常性损 | | -26,600 | ～ | -21,600 | -22,849.44 | | 益后的净利润 | | | | | | 二、与会计师事务所沟通情况 本次业绩预告数据是公司财务部门初步测算的结果，未经会计师事务所审计。 公司已就本次业绩预告与会计师事务所进行了预沟通，双方不存在重大分歧。 三、业绩变动原因说明 受房地产市场持 ...

为偏远山区学校送去崭新的课桌椅、在寒冬到来前让孩子们穿上新冬衣，在过去十余年间，"爱尚计划·爱上学"公益活动从未中断，累计助力480所乡村学 校；选用环保等级达到新国标最高级ENF级的板材，在广东、山东、北京、江西、福建等地多家权威儿童医院落地"康净宝贝之家"，为住院的孩子们打造专 属活动空间……作为全屋定制行业头部企业，尚品宅配秉持"取之于社会，用之于社会"的公益理念，以实际行动积极践行企业社会责任，持续投身社会公益 事业。 1月28日，在"善意回响·新京报2025年度公益致敬礼"上，尚品宅配"爱尚计划"入选"年度优秀传播案例"。这一荣誉再次印证了行业与社会对其持续践行社会 责任的高度认可。 从就学环境改善到儿童生活关怀，尚品宅配将社会责任融入企业发展脉络，用持续行动诠释"责任品牌"的深层内涵。在尚品宅配看来，企业实现商业价值的 同时，应该为社会创造更多价值，让经营成果反哺民生发展，让企业的每一步成长都成为推动社会向好的一份力量。 在过去十余年间，"爱尚计划·爱上学"公益活动从未中断，累计助力480所乡村学校。 "爱尚计划"累计助力480所乡村学校 2025年年末，尚品宅配"爱尚计划·爱上学"又一次启动公益 ...

Group 1 - The renovation and building materials sector experienced a decline, closing at 18,006.30 points with a drop of 1.22% [1] - Notable declines in individual stocks include Songlin Technology, which closed at 38.69 CNY per share, down 9.86%, leading the sector's losses [1] - Filinger closed at 29.60 CNY per share, down 6.15%, and Shangpin Home closed at 14.85 CNY per share, down 6.07%, ranking second and third in losses respectively [1] Group 2 - ST Nachuan led the gains in the sector, closing at 2.84 CNY per share with an increase of 7.17% [1] - Youbang Ceiling closed at 70.30 CNY per share, up 4.33%, and Haolaike closed at 16.52 CNY per share, up 3.64%, ranking second and third in gains respectively [1] Group 3 - Dongwu Securities indicated that with the implementation of housing and urban renewal policies, the market dynamics are expected to improve significantly [1] - The rapid development of smart home appliances is anticipated by 2026, driven by advancements in model and computing power matching [1]

Core Viewpoint - Shangpin Home (300616) announced that as of the disclosure date, the company and its subsidiaries have provided guarantees amounting to 0 yuan to external entities, representing 0% of the latest audited net assets [1] Group 1: Guarantees and Financial Position - The total amount of existing external guarantee contracts signed by the company and its subsidiaries is 2.381 billion yuan, all of which are guarantees between consolidated entities [1] - The actual balance of external guarantees provided by the company and its subsidiaries is approximately 477 million yuan, accounting for 13.98% of the latest audited net assets [1] - As of the disclosure date, there are no overdue external guarantees, nor are there any guarantees involved in litigation or losses due to guarantee judgments [1]

证券代码：300616 证券简称：尚品宅配 公告编号：2026-001号 广州尚品宅配家居股份有限公司 二、担保进展情况 近日，公司与中国工商银行股份有限公司广州天河支行签署《最高额保证合 同》，公司同意为公司全资子公司广州新居网家居科技有限公司提供主债权最高 余额为人民币 3,600 万元的连带责任保证。 本次担保事项发生前，公司对广州新居网家居科技有限公司的担保余额为 0.00 元，可用担保额度为 1 亿元；本次担保事项发生后，公司对广州新居网家 居科技有限公司的担保余额暂为 0.00 元(截至本公告披露日，相关债权尚未实际 1 / 3 关于为全资子公司提供担保的进展公告 本公司及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。 一、担保情况概述 广州尚品宅配家居股份有限公司（以下简称"广州尚品"或"公司"）于 2025 年 12 月 1 日召开第五届董事会第十一次会议，于 2025 年 12 月 17 日召开了 2025 年第三次临时股东会，审议通过了《关于为全资子公司提供担保额度预计的议案》， 同意公司为全资子公司广州新居网家居科技有限公司、广州维意家居用品有限 ...

Group 1 - The home goods sector increased by 1.17% on January 12, with QuSleep Technology leading the gains [1] - The Shanghai Composite Index closed at 4165.29, up 1.09%, while the Shenzhen Component Index closed at 14366.91, up 1.75% [1] - QuSleep Technology's stock price rose by 9.56% to 62.60, with a trading volume of 62,100 shares and a transaction value of 383 million yuan [1] Group 2 - The home goods sector experienced a net outflow of 355 million yuan from institutional investors, while retail investors saw a net inflow of 288 million yuan [2] - Among the top gainers, Dinggu Jichuang and Zhang Xiaoqin also saw significant increases of 9.39% and 7.45%, respectively [1] - The trading data indicates that the sector's performance was mixed, with some stocks like Senying Windows and Meike Home experiencing declines of 9.33% and 2.60% [2] Group 3 - The net inflow of funds for major stocks included 27.43 million yuan for Oppein Home and 24.87 million yuan for QuSleep Technology, indicating strong interest from institutional investors [3] - Conversely, QuSleep Technology faced a net outflow of 7.61 million yuan from speculative funds, suggesting some volatility in investor sentiment [3] - The overall trading activity reflects a diverse range of investor behaviors, with retail investors showing a preference for certain stocks despite the overall net outflow from institutional investors [2][3]

招商证券股份有限公司 关于广州尚品宅配家居股份有限公司持续督导 2025 年现场检查报告 | 保荐机构名称：招商证券股份有限公司 被保荐公司简称：尚品宅配 | | | --- | --- | | 保荐代表人姓名：林联儡 联系电话：0755-82943666 | | | 保荐代表人姓名：段念 联系电话：0755-82943666 | | | 现场检查人员姓名：林联儡、王小玲 | | | 现场检查对应期间：2025年1月至2025年12月 | | | 现场检查时间：2025年12月28日-2025年12月29日 | | | 一、现场检查事项 现场检查意见 | | | （一）公司治理 是 否 | 不适用 | | 现场检查手段：（1）查阅公司章程、股东会、董事会规则以及各项内控制度；（2）查阅公司 | | | 股东会、董事会会议资料；（3）查阅公司在深圳证券交易所指定信息披露网站相关公告内容； | | | （4）访谈公司高管人员。 | | | 1.公司章程和公司治理制度是否完备、合规 √ | | | 2. 公司章程和股东会、董事会规则是否得到有效执行 √ | | | 3.股东会、董事会会议记录是否完整，时间、地点、出 ...

| 保荐机构 | 招商证券股份有限公司 | | --- | --- | | 培训时间 | 2025 年 12 月 29 日 | | 培训方式 | 现场授课与线上会议结合 | | 培训地点 | 尚品宅配会议室、腾讯会议 | | 保荐机构参加人员 | 林联儡（保荐代表人） | | 培训对象 | 尚品宅配控股股东代表及实际控制人、董事、高级管理人员 | | | 等相关人员 | | 培训内容 | 股份交易专题 | 本次持续督导培训的基本情况如下表： 二、上市公司的配合情况 招商证券股份有限公司 关于广州尚品宅配家居股份有限公司 2025 年度持续督导培训情况说明 深圳证券交易所： 招商证券股份有限公司（以下简称"招商证券"、"保荐机构"）作为广州尚 品宅配家居股份有限公司（以下简称"尚品宅配"、"公司"）向特定对象发行股 票的保荐机构，根据《深圳证券交易所上市公司自律监管指引第 13 号——保荐 业务》、《深圳证券交易所创业板股票上市规则》等法规和规则的相关规定，结合 尚品宅配的实际情况，认真履行保荐机构应尽的职责，对尚品宅配控股股东及实 际控制人、董事、高级管理人员等相关人员进行了 2025 年度持续督导培训，所 ...