别人抢市场，它斗董事长？69年家纺巨头上演“宫斗剧”，没完了？

Core Viewpoint - The company Mengjie is embroiled in internal conflicts that threaten its business stability and market position, with ongoing disputes among executives overshadowing its operational focus [2][29]. Group 1: Internal Conflicts - On November 22, Mengjie’s director Chen Jie publicly accused the chairman Jiang Tianwu's team of multiple offenses, including contract fraud and fund misappropriation, claiming personal safety threats [3][5]. - Mengjie quickly denied these allegations, labeling them as malicious fabrications and announced legal actions against Chen Jie [5][8]. - The internal strife has escalated to a public confrontation, with Mengjie’s stock price surprisingly hitting a limit up despite the turmoil [8]. Group 2: Financial Performance - Mengjie has faced significant financial challenges, with revenue declining from 2.46 billion yuan in 2021 to 2.03 billion yuan in 2022, marking a 17.46% decrease [25]. - The company reported a net loss of 448.23 million yuan in 2022, a stark contrast to a profit of 44.92 million yuan in 2020 [25]. - As of the third quarter of 2025, Mengjie’s revenue was 1.1 billion yuan, down 7.97% year-on-year, while net profit increased by 28.69% to 26.52 million yuan [26]. Group 3: Market Position and Competition - Mengjie, established in 1956, has a long history in the high-quality bedding industry but has struggled to maintain its competitive edge against rivals like Luolai and Mercury, which have shown robust growth and innovation [27]. - Luolai reported over 3.3 billion yuan in revenue for the first three quarters of 2023, with a 30% increase in net profit, while Mercury's revenue grew by 20% [27]. - Mengjie’s internal conflicts and lack of focus on business operations have led to concerns about its ability to retain market share and recover from its current challenges [29].