Core Viewpoint - The acquisition of a significant stake in Sophia by Ningbo Yingfeng Ruihe Investment Management Co., Ltd., part of Yingfeng Group, indicates the group's ongoing expansion in the home furnishing sector, following its previous acquisition of Gujia Home [1][4]. Group 1: Acquisition Details - Yingfeng Group plans to acquire 103.7 million shares of Sophia, representing 10.769% of the total share capital, from its controlling shareholders at a price of 18 CNY per share, which is a 28.85% premium over the closing price of 13.97 CNY on the announcement date [2]. - After the transaction, the shareholding of Sophia's controlling shareholders will decrease from 21.54% to 16.15%, while Yingfeng Group's stake will increase from 1.95% to 12.7%, making it the third-largest shareholder [2][3]. Group 2: Strategic Intent - The agreement stipulates that the acquirer will not reduce its stake in Sophia for 18 months post-transaction and may consider further increasing its holdings within the next 12 months [3]. - This acquisition is part of Yingfeng Group's strategy to build a comprehensive ecosystem in the soft furnishings and custom home sectors, leveraging its previous experience with Gujia Home and the support from Midea Group [8]. Group 3: Company Performance - Sophia's primary brand, contributing 90% of its revenue, experienced a 10.46% decline in revenue year-on-year, totaling 94.48 billion CNY for 2024 [10]. - Overall, Sophia's revenue for 2024 is projected to be 104.94 billion CNY, marking a 10% decline, which is the first negative growth in a decade [10]. - As of September, Sophia's revenue decreased by 8.5% to 70.1 billion CNY, with a 26% drop in net profit to 6.8 billion CNY [12].

来源：国际金融报 "入主"顾家家居的盈峰集团又瞄上了索菲亚。 近日，索菲亚公布了一则权益变动公告，控股股东兼实际控制人江淦钧、柯建生基于个人资产投资及配 置的需求，拟向宁波盈峰睿和投资管理有限公司（下称"宁波睿和"）合共转让1.037亿股无限售流通股 股份，占公司总股本的10.769%。 盈峰系再出手 转让完成后，索菲亚控股股东、实际控制人地位不变，两人各自的持股比例均从21.54%下降至 16.15%；宁波睿和及其控股股东盈峰集团将合共持有索菲亚1.22亿股股份，持股比例将从1.95%增加至 12.7%，升至第三大股东。 另外，协议还指出，收购方在标的股份交割完成后的18个月内不减持标的股份，同时不排除在未来12个 月内继续增持索菲亚的可能。 从顾家家居到索菲亚，"盈峰系"的家居版图正不断扩张。 盈峰集团的实际控制人何剑锋是美的集团创始人何享健的独子。其早年曾在美的从基层做到投资部部 长，后来选择独立创业。 去年年初，顾家家居的股份转让完成过户，宁波睿和以29.42%的持股比例成为其控股股东。 此后，其不断收紧对顾家家居的管控，比如推动顾家家居完成董事会换届，"盈峰系"高管进入，并引 入"美的系"高管坐镇。 ...