美克家居(600337.SH)：天津子公司停工停产

Core Viewpoint - The company announced the decision to suspend operations at its wholly-owned subsidiaries, Tianjin Meike and Tianjin Processing, due to significant losses and low capacity utilization, with plans to transition these facilities to serve internal customers starting January 1, 2026 [1] Group 1: Company Operations - Tianjin Meike and Tianjin Processing were originally export-oriented factories, but due to the impact of the international trade environment, their export business has been transferred to the company's factory in Vietnam [1] - The subsidiaries will now primarily serve internal customers, including direct stores and subsidiaries responsible for franchise operations, with their revenue and related profits being offset in the consolidated financial statements [1] Group 2: Financial Performance - The company has experienced substantial losses in recent years due to various internal and external factors, with average capacity utilization at Tianjin Meike and Tianjin Processing being less than 20% [1] - The decision to suspend operations aims to optimize idle capacity, reduce losses, and accelerate strategic transformation [1] Group 3: Employee and Asset Management - The company has notified employees about the suspension of operations and is actively negotiating to ensure the protection of their legal rights [1] - The company is also preparing for asset evaluations at Tianjin Meike and Tianjin Processing to assess the feasibility of potential debt restructuring [1]