A股家装第一股重整获批！搭上算力，曾狂揽24个涨停

Core Viewpoint - *ST Dongyi has received court approval for its restructuring plan, marking a significant step in its recovery process and the termination of its restructuring procedures [1]. Restructuring Plan - The restructuring plan involves a capital increase where every 10 shares will be converted into approximately 12.68 shares, raising the total share capital to about 951 million shares [4]. - The new shares will not be allocated to existing shareholders; approximately 417 million shares will be conditionally transferred to restructuring investors, while the remaining shares will be used to settle debts [4]. - Key investors include Beijing Huazhu Technology Co., Ltd. and Yunnan International Trust Co., Ltd., who will provide around 1.412 billion yuan in investment [4]. - The company aims to focus on its core home decoration business and enhance its digital home decoration services post-restructuring [4]. Financial Performance - For 2024, the company expects a significant revenue drop to 1.296 billion yuan, a decrease of 55.84% year-on-year, with net losses expanding to 1.171 billion yuan [8]. - In the first three quarters of 2025, revenue further declined to 544 million yuan, down 52.02% year-on-year, with a net loss of 58 million yuan [8]. - As of September 2025, the company's net assets deteriorated to -1.165 billion yuan, with a debt-to-asset ratio of 172.4%, indicating severe financial distress [8]. Market Reaction - Following the announcement of restructuring investors on September 26, the stock experienced a significant surge, achieving 24 trading days with 29 price limits, peaking at 18.6 yuan on November 20 [8]. - However, the stock faced a sharp decline afterward, with 8 out of 9 trading days hitting the lower limit, dropping to a low of 9.2 yuan per share [8]. - As of December 19, the stock closed at 10.45 yuan per share [8].