Jason Furniture (Hangzhou) (SH:603816) Guo Ji Jin Rong Bao·2025-05-16 08:59Group 1 - The core point of the news is that Kuka Home intends to issue up to 104 million A-shares at a price of 19.15 yuan per share, raising a total of no more than 1.997 billion yuan, marking a significant capital move since the "Midea system" took control of the company in early 2024 [2][4] - The funds raised will be used for various projects, including smart upgrades of home product production lines, expansion of functional frame production lines, R&D of smart home products, digital transformation projects, and to supplement working capital, with 1 billion yuan allocated for working capital [5] - Kuka Home has maintained its position as the number one global sofa seller in China for three consecutive years from 2021 to 2024, according to Frost & Sullivan [4] Group 2 - Kuka Home's revenue for 2024 was 18.48 billion yuan, a year-on-year decrease of 3.81%, and the net profit attributable to shareholders was 1.417 billion yuan, down 29.38%, marking the first time since its listing in 2016 that both revenue and net profit declined simultaneously [6] - The company's domestic business revenue was 9.361 billion yuan, a decline of 14.4%, compounded by a full impairment of 213 million yuan on bonds from Red Star Macalline, further dragging down profit levels [6] - The company's main business segments include furniture manufacturing, information technology services, and others, with furniture manufacturing being the primary revenue source, generating 17.03 billion yuan, accounting for 92.13% of total revenue [9]