Group 1 - The company Chengdu Fusenmei Home Furnishing Co., Ltd. announced that its Vice General Manager and Board Secretary Zhang Fengshu is under investigation and has been placed under detention, following the earlier detention of the Chairman and actual controller Liu Bing in July [2] - During Zhang Fengshu's detention, his responsibilities as Board Secretary will be temporarily assumed by Vice General Manager and Chief Financial Officer Wang Hong [5] - The company emphasized that its production and operations remain normal and that this incident will not have a significant impact on its business operations [5] Group 2 - The consecutive detentions of high-level executives reflect a deep adjustment within the home furnishing industry, with a significant decline in new housing sales area and sales volume since 2024, leading to a sharp decrease in home decoration demand [6] - Fusenmei has reported a decline in revenue and net profit for eight consecutive quarters, indicating ongoing financial pressure [6] - Despite the challenging performance, the company has maintained a high dividend payout ratio, with a total cash dividend of 808 million yuan in 2024, resulting in a dividend ratio of 117.11%, which has attracted considerable market attention [6]