MIHF(SH:600337) Shang Hai Zheng Quan Bao·2026-01-08 19:13Core Viewpoint - Meike International Home Products Co., Ltd. is facing significant financial challenges, with a projected loss for the year 2025 and ongoing stock trading volatility due to market speculation and external economic factors [2][4][10]. Financial Performance - For the first three quarters of 2025, the company reported an operating income of 2.223 billion yuan, a year-on-year decline of 10.10%, and a net profit attributable to shareholders of -220 million yuan [2][4]. - The company anticipates that its total profit, net profit attributable to shareholders, and net profit excluding non-recurring gains and losses for 2025 will all be negative [2][5]. Stock Trading Activity - The company's stock experienced a cumulative price increase of 46.23% from January 5 to January 8, 2026, significantly outpacing the Shanghai Composite Index's increase of 2.88% during the same period [2][3]. - The stock price volatility has raised concerns about market sentiment and speculative trading risks, prompting the company to issue a warning to investors [3][4]. Major Corporate Actions - The company is planning to acquire 100% of Shenzhen Wandeng Technology Co., Ltd. through a combination of stock issuance and cash payment, which requires shareholder approval and regulatory clearance [2][6]. - The acquisition process is still in the preliminary stages, with the valuation and transaction price of the target assets yet to be determined [6]. Operational Changes - The company has decided to suspend operations at its wholly-owned subsidiaries in Tianjin due to low capacity utilization and significant losses, with an average utilization rate below 20% [10][12]. - The Tianjin subsidiaries contributed 17.75% and 12.65% of the company's consolidated revenue in 2024 and the first nine months of 2025, respectively, indicating their importance to the overall business [12][13].