“新王”何剑锋20亿定增“输血”顾家家居，“旧王”持股“丢盔弃甲”

Core Viewpoint - The recent capital increase of nearly 2 billion yuan by Gujia Home is strengthening He Jianfeng's control over the company, while the founding family's control is diminishing [1][2]. Group 1: Capital Increase and Control - Gujia Home announced a private placement to raise 1.0428 billion shares at 19.15 yuan per share, totaling approximately 1.997 billion yuan, which has been approved by the Shanghai Stock Exchange [1]. - Following the capital increase, He Jianfeng's shareholding in Gujia Home will rise to 37.37%, enhancing his control over the company [1][2]. - The second-largest shareholder, Hangzhou Deyejiajun, holds 10.76% of the shares, while the third-largest shareholder, TB Home Limited, holds 5.01%, both of which have their shares frozen [3]. Group 2: Financial Performance and Investment - As of October 17, Gujia Home's stock price was 30.22 yuan, with a total market capitalization of 24.824 billion yuan [4]. - The funds raised will primarily be used for working capital, with approximately 1 billion yuan allocated for this purpose, indicating liquidity issues faced by the company [4]. - The largest investment will be in AI and retail digital transformation, with an expected allocation of about 395 million yuan [4]. - Gujia Home's revenue for the first half of the year was 9.801 billion yuan, a year-on-year increase of 10.02%, and net profit was 1.021 billion yuan, up 13.89% [5]. Group 3: Market Expansion and Challenges - Gujia Home plans to invest approximately 1.124 billion yuan to establish a base in Indonesia, which is expected to generate annual revenue of 2.52 billion yuan once completed [6]. - The founding family's shares are being auctioned, with a total of 3.46% of the company's shares at risk due to financial difficulties [7][8]. - The founding family's control is further weakened as their shares are being gradually auctioned off, indicating a shift in ownership dynamics within the company [9].