登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：002397 证券简称：梦洁股份 公告编号：2025-040 本公司及除董事陈洁外的董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 董事陈洁不能保证公告内容真实、准确、完整，具体原因详见《关于董事对定期报告有异议的说明公 告》（公告编号：2025-044）。 重要内容提示： 1.董事会、监事会及除陈洁外的董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在 虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 董事陈洁无法保证季度报告内容的真实、准确、完整。请投资者特别关注。具体原因详见《关于董事对 定期报告有异议的说明公告》（公告编号：2025-044）。 □是 R否 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 R否 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息 的真实、准确、完整。 （二） 非经常性损益项目和金额 3.第三季度财务会计报告是否经过审计 公司不存在将《公开发行证券的公司信 ...

Core Viewpoint - Dream Jie's third-quarter report for 2025 shows a decline in revenue but an increase in net profit, raising concerns about financial accuracy and compliance due to ongoing regulatory issues [1][4]. Financial Performance - For the first three quarters of 2025, the company reported revenue of approximately 1.099 billion yuan, a year-on-year decrease of 7.97% [1]. - The net profit attributable to shareholders was approximately 26.52 million yuan, reflecting a year-on-year increase of 28.69% [1]. Regulatory Issues - Prior to the third-quarter report, the company was subjected to corrective supervision measures by the Hunan Securities Regulatory Bureau due to two major violations [2]. - The violations included issues with revenue and cost recognition across periods, as well as improper handling of employee compensation and social security [4]. Board Concerns - Director Chen Jie voted against the third-quarter report, citing concerns over the report's accuracy and the failure to address regulatory violations [1][4]. - Chen highlighted that the financial data presented in the report lacked credibility and contained misleading statements due to unaddressed violations [4][6]. Financial Management Issues - The company has been involved in financial transactions with its subsidiary, Fujian Dafa Sleep Technology Co., Ltd., including a loan of 66.02 million yuan to an individual named Ye Yifeng, which has not been recovered [4][8]. - The company has previously recognized this loan as a bad debt, indicating poor financial management and internal controls [4][8]. Ownership Structure - As of August 13, 2025, Dream Jie has entered a state of having no controlling shareholder or actual controller due to changes in voting rights agreements [8]. - The company’s market capitalization was reported at approximately 2.976 billion yuan, with a closing price of 3.98 yuan per share on October 24, 2025 [8].

Core Viewpoint - Dream Jie Co., Ltd. has demonstrated strong financial performance in Q3, achieving a revenue of 1.099 billion yuan and a net profit of 26.5176 million yuan, marking a year-on-year growth of 28.69% [1] Financial Performance - The company has achieved a stable year-on-year increase in net profit for four consecutive quarters [1] - Key financial indicators have shown continuous improvement, with inventory decreasing by 12.92% compared to the same period last year [1] - The net cash flow from operating activities has significantly increased by 276.33% year-on-year [1] Strategic Initiatives - Dream Jie is focusing on a high-end strategy, leveraging its "Chinese Time-honored Brand" advantage to integrate products with cultural elements and intangible heritage craftsmanship [1] - The company has launched several high-end new products, including the "Chinese Intangible Cultural Heritage" series and the 2025 wedding series, with some products selling out quickly after launch [1] Brand and Technology Development - The establishment of the "Dream Jie Plateau (Polar) Bedding Research Institute" and the acquisition of the first national 3H plateau certification certificate strengthen the technical foundation of its high-end strategy [2] - The company is enhancing its brand positioning through various initiatives, including collaborations with CCTV and smart manufacturing upgrades [2] Market Strategy and Retail Innovation - In response to high traffic costs, Dream Jie is advancing smart retail and channel innovation, integrating online and offline data for comprehensive member lifecycle management [2] - The company is revitalizing offline traffic through store image upgrades and large-scale live streaming events, improving conversion efficiency [2] Future Outlook - With the arrival of the traditional sales peak in Q4, consumer demand is expected to further activate [3] - Dream Jie has initiated its 2025 autumn and winter marketing deployment, preparing for raw material stocking and capacity planning [3] - The company's systematic strategic layout in products, branding, and channels is anticipated to inject sustained momentum into future performance growth, supported by policy measures to expand domestic demand and industry recovery trends [3]

Core Viewpoint - Mengjie Co., Ltd. reported mixed financial results for the first three quarters of 2025, with a decline in revenue but an increase in net profit, raising concerns about financial data integrity and internal controls among board members [1][4][5]. Financial Performance Summary - The company's revenue for the first three quarters was 1.099 billion yuan, a year-on-year decrease of 7.97%, while the net profit attributable to shareholders was 26.52 million yuan, an increase of 28.69%. The net profit after deducting non-recurring items was 24.75 million yuan, a significant increase of 105.37% [1][2]. - In Q3 alone, revenue was 366 million yuan, a year-on-year increase of 9.76%, and the net profit attributable to shareholders was 1.10 million yuan, up 131.11% [2]. - The net cash flow from operating activities for the first three quarters was 127 million yuan, compared to a negative 71.84 million yuan in the same period last year [2]. Cash Flow and Asset Management - The net cash flow from investment activities was -43 million yuan, an improvement from -80.59 million yuan year-on-year, attributed to reduced cash payments for fixed and intangible assets [2]. - As of September 30, 2025, total assets were 2.475 billion yuan, a decrease of 1.49% from the end of the previous year, while equity attributable to shareholders increased by 2.21% to 1.210 billion yuan [2]. Non-Recurring Gains - The company reported non-recurring gains totaling 1.77 million yuan, primarily from government subsidies and the reversal of impairment provisions for receivables [3]. Board Disagreement and Financial Concerns - Board member Chen Jie voted against the Q3 report, citing concerns over financial data integrity and internal control deficiencies, particularly regarding a loan to a subsidiary [4][5]. - The company received an administrative regulatory decision from the Hunan Securities Regulatory Bureau, highlighting issues with financial management and internal controls [4][5]. - Chen Jie raised concerns about the treatment of financial data, including cross-period recognition of income and expenses, which she believed led to misleading financial statements [5]. Company Responses to Concerns - In response to Chen Jie's concerns, the company stated that it had initiated recovery actions for the outstanding loan and emphasized the continuity of its auditing process with the current accounting firm [6].

Core Viewpoint - The company Mengjie Co., Ltd. faces ongoing scrutiny from its board member Chen Jie, who has expressed dissent regarding the accuracy and completeness of the company's financial reports for the ninth consecutive time since 2023 [1][2]. Financial Reporting Concerns - Chen Jie voted against the Q3 2025 report, citing concerns over the company's inability to ensure the report's truthfulness and completeness, as well as the presence of misleading statements and significant omissions [1][4]. - The company has been criticized for its financial handling of a loan of 63.3763 million yuan owed by a subsidiary, which was fully provisioned as bad debt without proper board approval, indicating a lack of adherence to standard financial procedures [3][4]. Revenue and Profit Performance - For the first three quarters of the year, Mengjie Co., Ltd. reported a revenue of approximately 1.099 billion yuan, representing a year-on-year decline of 7.97% [5]. - The company achieved a net profit attributable to shareholders of approximately 26.5176 million yuan, reflecting a year-on-year increase of 28.69% [5]. Board Decisions and Actions - Chen Jie has also opposed several other board proposals, including the reappointment of the accounting firm and the use of reserve funds to cover losses, indicating broader concerns about the company's governance and financial practices [5]. - In response to the dissent, the company stated that it has initiated recovery actions for the owed funds and has taken measures to offset the debt through various means, including withholding dividends [5].

Core Viewpoint - The company Mengjie Co., Ltd. has faced ongoing dissent from board member Chen Jie regarding the authenticity and accuracy of its financial reports, with Chen expressing objections for the ninth consecutive time in 2023 [2][3]. Financial Performance - For the first three quarters of the year, Mengjie Co., Ltd. reported revenue of approximately 1.099 billion yuan, representing a year-on-year decline of 7.97% [5]. - The company achieved a net profit attributable to shareholders of approximately 26.52 million yuan, showing a year-on-year increase of 28.69% [5]. Board Member Dissent - Chen Jie has consistently opposed the company's financial reports, citing concerns over the handling of bad debts related to loans made to subsidiary Fujian Dafang Sleep, amounting to 63.3763 million yuan [3][4]. - Chen's objections include claims of improper financial practices, such as cross-period recognition of revenue and costs, which he believes lead to distorted financial data and misleading statements [4]. Company Response - In response to Chen's dissent, the company stated that it has initiated recovery actions for the owed funds and has signed agreements with the debtor, Ye Yifeng, to confirm debts and repayment arrangements [4].

Core Insights - The company reported a revenue of 1.099 billion yuan and a net profit of 26.5176 million yuan for the first three quarters of 2025, marking a year-on-year growth of 28.69% in net profit [1] Financial Performance - Revenue for the first three quarters reached 1.099 billion yuan [1] - Net profit attributable to shareholders was 26.5176 million yuan, reflecting a year-on-year increase of 28.69% [1] - Inventory decreased by 12.92% compared to the same period last year [1] - Net cash flow from operating activities increased by 276.33% year-on-year [1] - Both revenue and net profit showed year-on-year growth in the third quarter, with net profit increasing for four consecutive quarters [1] Product Development - The company launched several high-end new products in the third quarter, including the "Chinese Intangible Cultural Heritage" series and the "Dengfeng" series featuring premium down materials [1] - New products such as the "Dream Moon No. 1 3.0 Deep Sleep Pillow" received positive market feedback, with some items quickly selling out [1]

Core Insights - The company reported a revenue of 1.099 billion yuan and a net profit of 26.5176 million yuan for the first three quarters of 2025, marking a year-on-year growth of 28.69% in net profit, despite the overall pressure in the home textile industry [1][2] - The company has successfully implemented a high-end strategy, launching several premium products that have received positive market feedback, indicating strong profitability resilience [2][3] Financial Performance - Revenue for the first three quarters reached 1.099 billion yuan, with a net profit of 26.5176 million yuan, reflecting a 28.69% increase year-on-year [1] - Inventory decreased by 12.92% compared to the same period last year, and net cash flow from operating activities increased by 276.33%, showcasing improved operational efficiency [2] Product Strategy - The company focuses on high-end bedding products, integrating cultural elements and traditional craftsmanship into new product lines, such as the "Chinese Intangible Cultural Heritage" series and premium down comforters [2][3] - New product launches have been well-received, with some items quickly selling out, indicating strong consumer demand [2] Brand Development - The establishment of the "Mengjie Plateau (Polar) Bedding Research Institute" and the introduction of a high-altitude bedding certification standard reinforce the company's commitment to high-quality products [3] - The company has been recognized as a trusted brand in the manufacturing sector, enhancing its brand credibility [3] Marketing and Sales Strategy - The company is actively engaging in refined operations of smart retail, integrating online and offline data for effective customer relationship management [4] - Collaborations with platforms like Douyin and the launch of flagship stores aim to enhance brand visibility and drive sales [4] Future Outlook - The company has initiated its marketing strategy for the autumn and winter sales season, showing proactive inventory and capacity planning [5] - With supportive policies and a recovering market environment, the company's strategic initiatives across products, branding, and channels are expected to drive future growth [6]

Core Viewpoint - The article emphasizes that Atour is successfully transforming its retail business by focusing on user experience and product innovation, akin to technology companies, rather than merely selling hotel-related products [2][3]. Group 1: Retail Performance - In 2024, Atour sold over 3 million deep sleep pillows and 770,000 deep sleep quilts, with retail revenue growth exceeding 120%, now accounting for half of its hotel business revenue [2]. - Atour's retail brand "Atour Planet," established only four years ago, ranks among the top four in China's home textile industry, with its core products leading in e-commerce platform categories [2][6]. Group 2: Strategic Focus - Atour's founder, Yelv Yin, emphasizes the importance of understanding user changes rather than focusing on competitors, dedicating time to engage with user feedback on platforms like Xiaohongshu [3][4]. - The decision to significantly reduce SKUs and concentrate on sleep-related products was made to enhance resource allocation and focus on a specific market segment, despite the short-term revenue sacrifice [5][10]. Group 3: Product Development - Atour's approach to product design shifted from making pillows that users adapt to, to creating pillows that adapt to users, resulting in the development of the deep sleep pillow Pro 1.0 [6][7]. - The deep sleep pillow quickly became the top-selling product across platforms, demonstrating that addressing real user pain points is crucial for success [7][12]. Group 4: Supply Chain and Standards - Atour is transforming its supply chain by setting high standards and collaborating closely with suppliers to ensure product quality, similar to Apple's approach with iPhone production [10][12]. - The establishment of "deep sleep standards" quantifies comfort through metrics like dynamic pressure stability and temperature control, moving beyond traditional industry parameters [13][14]. Group 5: Market Positioning - Atour's online sales strategy has rapidly evolved, with over 90% of its revenue coming from online channels, contrasting with traditional home textile brands that lag behind in digital transformation [14][15]. - The company's ability to leverage its hotel network as a testing ground for products has provided a unique advantage in the market, allowing for direct consumer engagement [14][15]. Group 6: Management and Adaptation - Atour's management philosophy includes rapid response to customer feedback and a commitment to long-term value creation, moving away from short-term performance metrics [17][19]. - The company has implemented a "no overnight negative reviews" policy to ensure quick resolution of customer issues, enhancing service quality and customer satisfaction [17][19]. Group 7: Continuous Innovation - Atour believes in continuous iteration of both hotel and retail products, with annual updates to core offerings, ensuring they remain competitive in a rapidly evolving market [21][22]. - The focus on maintaining a vibrant organizational culture and innovative product development is seen as essential for long-term success in the traditional home textile industry [21][22].

老牌家纺企业梦洁股份2025年三季度报告看似亮眼，却再次遭董事陈洁投反对票。而自2023年2月3日当选董事以来，董事陈洁对该公司年报、季报几乎每 次都要投下反对票或弃权票，在A股实属罕见。 10月26日晚间，梦洁股份（002397）发布2025年第三季度报告，公司第三季度营收为3.66亿元，同比增长9.76%；净利润为110.26万元，同比增长 131.11%。公司前三季度营收为10.99亿元，同比下降7.97%；净利润为2651.76万元，同比增长28.69%。 | | 本报告期 | 本报告期比上年 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 同期增减 | | 比上年同期增减 | | 营业收入(元) | 365,564,802.55 | 9.76% | 1.099.412.104.96 | -7.97% | | 归属于上市公司股东的净 | 1,102,568.85 | 131.11% | 26,517,550.35 | 28.69% | | 利润(元) | | | | | | 归属于上市公司股东的扣 除非经常性损益的净利润 | 77 ...