董秘跟在董事长之后也被留置，“分红大户”富森美的麻烦有点大

Core Viewpoint - The company, Fusenmei, is facing significant turmoil with both its chairman and board secretary under investigation and detained, raising concerns about its operational stability and future performance [1][2]. Company Overview - Fusenmei is a well-known home furnishing retail company in Southwest China, primarily based in Chengdu, Sichuan, and is characterized as a "small but beautiful" enterprise in the industry [1]. - The company has a history of generous dividend payouts, distributing over 2.4 billion yuan in dividends over the past three years, which is nearly equivalent to its net profit of 2.333 billion yuan during the same period [2]. Recent Developments - The board secretary, Zhang Fengshu, has been placed under investigation and detention, following the earlier detention of chairman Liu Bing, which has raised concerns about the company's governance [1][2]. - Despite the announcement that operations remain normal, the company's stock price has declined over 10% since Liu Bing's detention, resulting in a market value loss of approximately 935 million yuan [2]. Financial Performance - Fusenmei's financial performance has deteriorated, with a reported revenue of 629 million yuan in the first half of the year, a year-on-year decline of 11.55%, marking the worst mid-year performance since 2021 [3][5]. - The net profit attributable to shareholders was 318 million yuan, down 6.35% year-on-year, while cash flow from operating activities also fell by 7.16% [3]. - The company has experienced a significant drop in revenue from its decoration and renovation services, which fell by approximately 48.39% to 22.09 million yuan [3][4]. Industry Context - The home furnishing industry is currently facing challenges, with Fusenmei's performance impacted by a sluggish recovery in the real estate market, leading to overall pressure on the building materials and home furnishing sectors [3][5]. - Fusenmei is not alone in facing governance issues, as other home furnishing companies have also seen their leaders detained this year, raising broader concerns about the industry's stability [5].