Financial Data and Key Metrics Changes - Revenue grew by 8% year-over-year on a reported basis and 9% year-over-year, excluding the impact of the exit from Germany [26][29] - Adjusted EBITDA increased by more than 70% year-over-year, achieving a margin of 6.7%, the highest level outside of the pandemic period [6][29] - Contribution margin improved to 15.8%, up 150 basis points year-over-year, marking the best result since 2021 [27][29] Business Line Data and Key Metrics Changes - U.S. business revenue increased by 9% year-over-year, while international revenue grew by 5% [26] - Active customers saw sequential growth for the first time since 2023, with orders growing over 5% year-over-year [9][29] - Average Order Value (AOV) rose approximately 2% in Q3, driven by a mix shift towards higher-end brands and B2B [9] Market Data and Key Metrics Changes - The overall category has moved past a multi-year trend of double-digit declines, inching closer to flat growth in 2025 [8][9] - Existing home sales remain at multi-decade lows, but the category is showing signs of stabilization [7][8] Company Strategy and Development Direction - The company is focused on driving share capture and profitability through strong execution and technology advancements [6][11] - Investments in AI and machine learning are aimed at enhancing customer experience and operational efficiency [12][15] - The strategy includes a dual-prompt approach to integrate the catalog into leading AI platforms while maintaining a strong presence on its own site [24][25] Management's Comments on Operating Environment and Future Outlook - Management believes that the current sluggish housing market does not significantly impact their growth strategy, which is driven by company-specific factors [8][9] - The company anticipates continued top and bottom line growth, with EBITDA growth expected to outpace revenue growth in 2026 [43][45] - There is optimism about the industry backdrop improving, with expectations for a gradual recovery in purchasing behavior [64][65] Other Important Information - The company ended the quarter with $1.2 billion in cash and short-term investments, and $1.7 billion in total liquidity [29] - Free cash flow improved by over $100 million compared to the same quarter last year, reaching $93 million [29] Q&A Session Summary Question: How is the company anticipating consumer behavior for the holiday season? - Management does not expect significant changes in consumer behavior due to tariffs and believes holiday shopping will follow traditional patterns [40][41] Question: What are the expectations for 2026 regarding share gains and gross margin? - The company aims for EBITDA growth to outpace revenue growth, driven by improvements in core offerings and new programs [42][43][46] Question: Is the business at an inflection point for growth? - Management remains optimistic about continued growth momentum and believes benefits from technology investments will contribute positively [50][52] Question: How does the company view the impact of Amazon's advertising changes? - The company does not see a significant impact from Amazon's advertising changes, as it already holds a strong market position [66][70] Question: What drove revenue acceleration in the later part of the quarter? - Revenue growth was attributed to structural business initiatives rather than pull forward effects, with strength noted in higher-end brands [75][78]

Core Viewpoint - International Home Retail (01373) announced a share buyback plan, indicating confidence in its stock value and potential for future growth [1] Group 1: Share Buyback Details - The company plans to repurchase 150,000 shares at a total cost of HKD 118.7 million [1] - The buyback price per share ranges from HKD 0.79 to HKD 0.80 [1]

智通财经APP讯，国际家居零售(01373)发布公告，于2025年10月28日，该公司斥资11.87万港元回购15 万股股份，每股回购价格为0.79-0.8港元。 ...

Group 1 - The company is enhancing its home decoration and customization business but has not yet seen significant synergy effects [1] - The management emphasizes an integrated online and offline marketing strategy, upgrading the online traffic matrix to attract young consumers [1] - The company collaborates with platforms like Douyin, Xiaohongshu, Meituan, and Tmall to create a closed loop of "online seeding - offline experience" [1] Group 2 - Offline initiatives include a trade-in program and joint brand marketing to leverage government and enterprise subsidies [1] - The company has launched a "Ten Thousand Plate Service Plan" to integrate upstream and downstream resources and improve last-mile service [1] - The company is expanding its network by collaborating with real estate companies like Jianfa Real Estate and Lianfa Group to offer exclusive home decoration services to property owners [1]

Core Viewpoint - The company has disclosed its third-quarter report for 2025, ensuring the accuracy and completeness of the information provided, despite the absence of the chairman due to legal measures [2][12]. Financial Data Summary - The third-quarter financial report has not been audited [3][8]. - The company does not require retrospective adjustments or restatements of previous accounting data [3]. - There are no non-recurring profit and loss items reported for the quarter [3]. Shareholder Information - The company announced a cash dividend distribution of RMB 3.60 per 10 shares, totaling RMB 269,445,218.40, based on the total share capital of 748,458,940 shares as of June 30, 2025 [5]. Board Meeting Details - The sixth board meeting was held on October 27, 2025, with the chairman absent due to legal issues, and the meeting was conducted in accordance with legal and regulatory requirements [10][12]. - The board approved the third-quarter report, confirming that it reflects the company's actual situation without any false records or misleading statements [12].

Core Insights - The article highlights the growing trend of home renovation and improvement during the "Double Eleven" shopping season, indicating a shift in consumer behavior towards enhancing living spaces [1] Group 1: Event Overview - The "Double Eleven Heartfelt Home Renewal" event is taking place from October 25 to November 23, featuring five shopping malls in Beijing, each offering unique activities to attract customers [1] - The event aims to promote the concept of "Comfort UP" through various in-store experiences, allowing customers to engage with products directly [1] Group 2: Consumer Experience - The Beijing Global Home 1 Store is introducing a "Ten-Year Appointment" gift for customers who sign in, emphasizing the importance of in-store experiences [1] - Customers can physically interact with products, such as feeling the texture of solid wood furniture, testing the resilience of sofa cushions, and experiencing the comfort of mattresses [1]

Core Insights - The article highlights the "Double Eleven Heartfelt Home Renewal" theme event organized by Red Star Macalline in five shopping malls in Beijing, aimed at enhancing home living experiences through in-store interactions and product trials [1][2] Group 1: Event Overview - The event runs from October 25 to November 23, featuring five malls: Beijing East Fifth Ring, Beijing North Fourth Ring, Beijing Global Home No. 1, Beijing Supreme Mall, and Beijing West Fourth Ring [1] - The initiative focuses on providing a one-stop support system for customers looking to upgrade their home furnishings, emphasizing comfort, style, and affordability [1] Group 2: Unique Activities - Each mall has tailored activities to enhance customer engagement, such as a "Ten-Year Appointment" gift for loyal customers at Beijing Global Home No. 1 [2] - Beijing West Fourth Ring offers a blind box interaction with 2,000 practical items hidden inside, adding an element of surprise to the shopping experience [2] - The "Smash the Golden Egg" event at Beijing North Fourth Ring aims to ignite consumer enthusiasm with unexpected rewards [2] - Beijing Supreme Mall features a "Friends Exclusive Zone" for loyal customers, providing customized services and special gifts [2] - The "Exchange for Gifts" activity at Beijing East Fifth Ring allows customers to redeem up to 5,000 yuan in cash cards based on their cumulative spending [2] Group 3: In-Store Experience - The core value of visiting the stores lies in the ability to physically experience the comfort of products, such as feeling the texture of solid wood furniture and testing the responsiveness of sofa cushions [2] - Customers can also try out smart home appliances to appreciate their convenience, which cannot be conveyed through online images [2] - The event aims to help customers realize their ideal home comfort through hands-on experiences [2]

Core Viewpoint - The company International Home Retail (01373) announced a share buyback plan, indicating confidence in its financial position and future prospects [1] Group 1 - The company will spend HKD 120,000 to repurchase 150,000 shares [1]

Group 1 - The company International Home Retail (01373.HK) announced a share buyback plan [1] - The buyback will occur on October 22, 2025, at a total cost of HKD 120,000 [1] - The company plans to repurchase 150,000 shares at a price of HKD 0.8 per share [1]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 10月21日，美凯龙收涨1.81%，收盘价为2.81元，发生4笔大宗交易，合计成交量120万股，成交金额 297.6万元。 第1笔成交价格为2.48元，成交30.00万股，成交金额74.40万元，溢价率为-11.74%，买方营业部为长城 证券股份有限公司总部，卖方营业部为机构专用。 第3笔成交价格为2.48元，成交30.00万股，成交金额74.40万元，溢价率为-11.74%，买方营业部为机构 专用，卖方营业部为机构专用。 第4笔成交价格为2.48元，成交30.00万股，成交金额74.40万元，溢价率为-11.74%，买方营业部为机构 专用，卖方营业部为机构专用。 进一步统计，近3个月内该股累计发生19笔大宗交易，合计成交金额为2513.7万元。该股近5个交易日累 计上涨0.00%，主力资金合计净流出369.8万元。 责任编辑：小浪快报 第2笔成交价格为2.48元，成交30.00万股，成交金额74.40万元，溢价率为-11.74%，买方营业部为机构 专用，卖方营业部为机构专用。 ...