Group 1: Financial Performance - In Q3 2025, the company achieved a significant narrowing of revenue decline, with a net profit of approximately 1.19 million yuan despite challenges from the suspension of national subsidies [2][3] - Cumulative data shows a year-on-year increase of approximately 1.64% in gross profit margin for the first three quarters, while total expenses decreased by about 11.05% [2][3] Group 2: Strategic Focus - The company has shifted back to its core custom furniture business, launching the "Whole House Star Customization" strategy, inspired by luxury hotel designs, to meet the demand for home quality upgrades [3][4] - This strategy emphasizes integrated design across doors, walls, cabinets, and appliances, aiming to enhance comfort, practicality, and overall experience [3][4] Group 3: Customer Experience Enhancement - The "Whole House Star Customization" strategy features five key advantages: aesthetic design, AI-driven quality solutions, high environmental standards, functional innovations, and comprehensive service from measurement to installation [4][5] - The AI Design Factory has become a standard in stores, significantly improving proposal quality and efficiency, with over 50,000 solutions delivered annually [5] Group 4: International Expansion Plans - The company is pursuing overseas expansion through a model of industrial output, leveraging its IT and information system strengths to export its custom furniture model [5] - The new overseas strategy, centered around the Sunpina brand, targets regions such as the Middle East, Southeast Asia, and Africa for franchise development [5]

Core Insights - Guangzhou Shangpin Home Furnishing Co., Ltd. reported a revenue of 2.55 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 6.66% [1] - The company experienced a net loss of 79.48 million yuan during the same period [1] - In the third quarter, revenue reached 998 million yuan, down 2.34% year-on-year, while net profit was 1.188 million yuan, showing a significant increase of 114.39% [1]

（编辑 任世碧） 证券日报网讯 10月28日晚间，尚品宅配发布2025年第三季度报告称，2025年第三季度公司实现营业收 入998，468，449.29元，同比下降2.34%；归属于上市公司股东的净利润为1，187，989.12元，同比增 长114.39%。 ...

Core Insights - The company reported a revenue of 2.55 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 6.66% [1] - The net profit attributable to shareholders was -79.48 million yuan, an increase of 30.38% year-on-year, while the net profit excluding non-recurring items was -91.27 million yuan, up 31.75% year-on-year [1] - The basic earnings per share stood at -0.35 yuan [1] Financial Performance - The gross margin for the first three quarters of 2025 was 33.57%, an increase of 1.64 percentage points year-on-year, while the net margin was -3.12%, up 1.06 percentage points from the previous year [2] - In Q3 2025, the gross margin was 32.55%, down 1.63 percentage points year-on-year and 0.76 percentage points quarter-on-quarter; the net margin was 0.12%, an increase of 0.92 percentage points year-on-year and 5.29 percentage points quarter-on-quarter [2] - Total operating expenses for Q3 2025 were 904 million yuan, a decrease of 112 million yuan year-on-year, with an expense ratio of 35.46%, down 1.75 percentage points from the previous year [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 13,400, a decrease of 1,408 or 9.51% from the end of the previous half [2] - The average market value per shareholder increased from 199,700 yuan at the end of the previous half to 205,600 yuan, a growth of 2.95% [2] Company Overview - Guangzhou Shangpin Home Collection Co., Ltd. specializes in the customized production and sales of whole-house panel furniture, with 80.44% of its revenue coming from customized furniture products [3] - The company was established on April 19, 2004, and went public on March 7, 2017 [3] - The company operates in the light industry manufacturing sector, specifically in home goods and customized home furnishings [3]

Core Viewpoint - The company reported a decline in revenue and incurred a net loss for the first three quarters of 2025 [1] Financial Performance - The company's operating revenue for the first three quarters was 2.55 billion yuan, representing a year-on-year decrease of 6.66% [1] - The net loss attributable to shareholders of the listed company was 79.48 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 91.27 million yuan [1] - The basic loss per share was 0.35 yuan [1]

Core Viewpoint - The company reported a decline in revenue and a significant net loss for the first three quarters of 2025 compared to the previous year [1] Financial Performance - The company's operating revenue for the first three quarters was 2.55 billion yuan, representing a year-on-year decrease of 6.66% [1] - The net loss attributable to shareholders of the listed company was 79.48 million yuan [1] - The net loss attributable to shareholders, excluding non-recurring gains and losses, was 91.27 million yuan [1] - The basic loss per share was 0.35 yuan [1]

Company Overview - Shangpin Home Collection (SZ 300616) announced that its fifth board meeting for 2025 will be held on November 13, 2025, to review the proposal for amending the "Audit Committee Work Rules" [1] - For the first half of 2025, the company's revenue composition shows that the furniture industry accounts for 85.24%, while other businesses make up 14.76% [1] - As of the report date, Shangpin Home Collection has a market capitalization of 2.8 billion yuan [1] Industry Context - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation into a "slow bull" new pattern [1]

广州尚品宅配家居股份有限公司 董事会战略委员会工作细则 第一章 总则 第一条 为适应广州尚品宅配家居股份有限公司（以下简称"公司"）战略 发展需要，增强公司核心竞争力，确定公司发展规划，健全投资决策程序，加强 决策科学性，提高重大投资决策的效益和决策的质量，完善公司治理结构，根据 《中华人民共和国公司法》《上市公司治理准则》《广州尚品宅配家居股份有限 公司章程》（以下简称"《公司章程》"）及其他有关规定，公司董事会特设立 战略委员会，并制定本工作细则。 第二条 董事会战略委员会是董事会按照《公司章程》规定设立的专门工作 机构，主要负责对公司长期发展战略和重大投资决策进行研究并提出建议。 第二章 人员组成 第三条 战略委员会成员由三名董事组成，其中至少包括一名独立董事。 第四条 战略委员会委员由董事长、二分之一以上独立董事或者全体董事的 三分之一以上提名，并由董事会选举产生。 第五条 战略委员会设一名主任委员作为委员会召集人，由公司董事长担任。 第六条 战略委员会任期与董事会任期一致，委员任期届满，可以连选连任。 期间如有委员不再担任公司董事职务，则其自动失去委员任职资格，并由董事会 根据本工作细则第三条至第五 ...

广州尚品宅配家居股份有限公司 证券投资、期货与衍生品交易管理制度 第一章 总 则 第一条 为规范广州尚品宅配家居股份有限公司（以下简称"公司"或"本 公司"）证券投资、期货和衍生品交易业务及相关信息披露工作，防范投资风险， 健全和完善证券投资、期货和衍生品交易业务管理机制，强化风险控制，确保公 司资产安全，根据《中华人民共和国公司法》《中华人民共和国证券法》《深圳 证券交易所创业板股票上市规则》（以下简称"《股票上市规则》"）、《深圳 证券交易所上市公司自律监管指引第 7 号——交易与关联交易》及《公司章程》 等相关规定，结合公司实际情况，特制定本制度。 第二条 本制度适用于公司及公司所有控股子公司的证券投资、期货及衍生 品交易套期保值业务，未经公司同意，各子公司不得擅自操作此业务。 第三条 本制度所述证券投资，包括新股配售或者申购、证券回购、股票及 存托凭证投资、债券投资以及深圳证券交易所认定的其他投资行为，但固定收益 类或者承诺保本的投资行为、参与其他上市公司的配股或者行使优先认购权利、 购买其他上市公司股份超过总股本的 10%且拟持有三年以上的证券投资、公司 首次公开发行股票并上市前已进行的投资除外。 ...

广州尚品宅配家居股份有限公司 信息披露管理制度 第一章 总则 第一条 为规范广州尚品宅配家居股份有限公司（以下简称"公司"）信息 披露行为，提高公司信息披露管理水平和信息披露质量，保护投资者的合法权益， 依据《中华人民共和国公司法》《中华人民共和国证券法》（以下简称"《证券 法》"）、中国证券监督管理委员会（以下简称"中国证监会"）发布的《上市 公司信息披露管理办法》、深圳证券交易所（以下简称"证券交易所"）发布的 《深圳证券交易所创业板股票上市规则》（以下简称"《上市规则》"）等有关 法律、法规、规章、规范性文件和深圳证券交易所业务规则、《广州尚品宅配家 居股份有限公司章程》的规定，结合公司实际，制定本制度。 第二条 本制度所称"信息"是指对公司发行的股票或其他证券及其衍生 品种的价格可能产生重大影响的信息以及证券监管部门要求披露的信息。 本制度所称"披露"是指公司或相关信息披露义务人按法律、行政法规、部 门规章、其他规范性文件、《上市规则》及证券交易所其他规定在指定媒体上公 告信息。 第三条 本制度所称"信息披露义务人"，是指上市公司及其董事、高级管 理人员、股东、实际控制人，收购人，重大资产重组、再融资 ...