本报记者 许林艳 向炎涛 12月26日晚间，东易日盛家居装饰集团股份有限公司（以下简称"*ST东易（002713）"）发布股票停牌 的提示性公告。公告显示，*ST东易因执行《东易日盛家居装饰集团股份有限公司重整计划》（以下简 称"重整计划"）进行资本公积金转增股本。 重整完成后，*ST东易将继续聚焦家装主业，保留核心资产，重启并升级数字化家装业务。同时，产业 投资人将提供增量资源，利用产业投资人在算力产业链的资源优势、项目实施经验及技术积累助力*ST 东易拓展算力中心集成服务业务及算力中心运营服务业务，实现双轮驱动。 *ST东易表示，若重整计划顺利执行，将有利于改善公司资产负债结构，推动公司健康、可持续发展， 将会对公司2025年度相关财务数据产生影响。 公开资料显示，*ST东易成立于1997年，主要从事面向个人客户的整体家装设计、工程施工、主材代理 等家居综合服务。从经营数据来看，2025年前三季度，公司营收实现5.44亿元，同比下滑52.02%；归母 净利润亏损5826.22万元，亏损额度同比缩窄。 根据重整计划，以*ST东易4.2亿股总股本为基数，按每10股转增12.68股的比例实施资本公积转增股 份， ...

Core Viewpoint - *ST Dongyi has experienced a significant stock price surge, with a cumulative increase of 241.59% over 28 trading days, prompting the company to apply for a trading suspension for stock price fluctuation investigation [1][4][9]. Group 1: Stock Performance and Trading Suspension - The stock price of *ST Dongyi rose from a low of 1.96 yuan in July 2024 to a suspension price of 17.66 yuan, marking nearly a tenfold increase [1]. - The company announced a trading suspension starting November 14, 2025, for up to three trading days to investigate the stock price fluctuations [1][4]. Group 2: Company Background and Financial Status - *ST Dongyi primarily engages in comprehensive home decoration services, including design, construction, and product supply [5]. - The company has faced ongoing operational challenges, with negative net assets reported for the end of 2024 and three consecutive years of negative net profit [6]. - In 2024, *ST Dongyi's revenue was 1.296 billion yuan, a decrease of 55.84% year-on-year, and a net loss of 1.171 billion yuan, a significant decline of 461.88% compared to the previous year [15]. Group 3: Restructuring Efforts - The company initiated pre-restructuring work in October 2024, with 40 potential investors expressing interest, ultimately selecting Beijing Huazhu Technology Co., Ltd. as the restructuring investor [7][9]. - Huazhu Technology aims to leverage its resources to assist *ST Dongyi in expanding its data center integration and computing power services, while maintaining focus on its core home decoration business [11]. Group 4: Risks and Uncertainties - The restructuring process remains uncertain, as the company has not yet received court approval for its restructuring application [10]. - If the restructuring is not completed by December 31, 2025, *ST Dongyi risks being delisted [10][19]. - The success of the restructuring and the potential integration of new business lines depend on various factors, including regulatory compliance and market conditions [13][18].

Core Viewpoint - *ST Dongyi's stock price has experienced significant volatility, with a 241.59% increase since September 26, raising concerns about its divergence from the company's fundamentals [1] Group 1: Stock Performance and Market Metrics - The stock has shown large fluctuations, with nine instances of abnormal trading behavior since the announcement of the restructuring investor selection [1] - As of November 12, *ST Dongyi's static P/E ratio was -6.03, rolling P/E ratio was -10.88, and P/B ratio was -6.06, indicating substantial differences compared to the industry averages of 26.83 for static P/E, 23.94 for rolling P/E, and 2.34 for P/B [1] Group 2: Financial Health and Risks - The company reported a negative net asset value at the end of 2024, leading to a "delisting risk warning" under Shenzhen Stock Exchange rules [2] - Continuous negative net profits for three years have resulted in a "other risk warning" from auditors, indicating significant uncertainty regarding the company's ongoing operations [2] - The company faces potential bankruptcy and delisting risks if the court does not accept its restructuring application by December 31, 2025 [2] Group 3: Regulatory Attention and Business Overview - The stock's abnormal price movements have attracted regulatory scrutiny, with the Shenzhen Stock Exchange monitoring *ST Dongyi for unusual trading activities [3] - Established in 1997, *ST Dongyi is the first listed company in the home decoration sector in A-shares, providing comprehensive home services including design, construction, and product supply [3] - For the first three quarters of 2025, the company reported revenues of 544 million, a decrease of 52.02% year-on-year, with a net loss of 58.26 million [3]