Core Viewpoint - The company, Seagull Home, is a leading player in the domestic integrated bathroom industry, facing challenges in revenue and profitability compared to its peers [1][2]. Group 1: Business Performance - In Q3 2025, Seagull Home reported revenue of 2.04 billion, ranking 4th in the industry, significantly lower than the top competitor, Arrow Home, at 4.472 billion, and below the industry average of 2.352 billion [2]. - The main business segments include hardware products generating 796 million, accounting for 58.18% of total revenue, and ceramic tiles at 315 million, making up 23.06% [2]. - The net profit for the same period was -69.7064 million, placing the company last in the industry, far below the leading competitor's profit of 349 million [2]. Group 2: Financial Ratios - As of Q3 2025, the company's debt-to-asset ratio was 54.34%, higher than the industry average of 33.64%, indicating greater debt pressure [3]. - The gross profit margin was reported at 13.09%, lower than the previous year's 15.52% and significantly below the industry average of 25.54%, suggesting a need for improvement in profitability [3]. Group 3: Executive Compensation - The chairman, Chen Wei, received a salary of 823,800, an increase of 308,200 from the previous year [4]. - The general manager, Wang Ruiquan, earned 450,000, down from 590,000 in 2023 [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 4.03% to 31,000, while the average number of circulating A-shares held per shareholder increased by 4.20% to 20,800 [5].

Group 1 - The stock price of Seagull Housing Industry increased by 9.44%, reaching 4.87 CNY per share, with a trading volume of 385 million CNY and a turnover rate of 13.23%, resulting in a total market capitalization of 3.146 billion CNY [1] - Seagull Housing Industry, established on January 8, 1998, and listed on November 24, 2006, is located in Panyu District, Guangzhou, Guangdong Province. The company specializes in the research, manufacturing, and sales of metal products, daily necessities, hardware products, and ceramic products [1] - The main revenue composition of Seagull Housing Industry includes: 58.18% from hardware products, 23.06% from tiles, 7.98% from smart home products, 3.74% from ceramic bathtubs, 3.22% from others, 2.07% from integrated bathroom solutions, and 1.75% from custom cabinets [1] Group 2 - Guolian Fund has a significant holding in Seagull Housing Industry through its fund Guolian Xinqidian Mixed A (001413), which held 13,400 shares in the second quarter, accounting for 0.57% of the fund's net value, making it the second-largest holding [2] - The fund Guolian Xinqidian Mixed A (001413) was established on June 12, 2015, with a latest scale of 567,300 CNY. It has achieved a year-to-date return of 18.48%, ranking 4533 out of 8160 in its category, and a one-year return of 21.92%, ranking 3733 out of 8026 [2] Group 3 - The fund manager of Guolian Xinqidian Mixed A (001413) is Zhao Fei, who has a tenure of 10 years and 165 days, with a total fund asset size of 272 million CNY. The best fund return during his tenure is 72.58%, while the worst is -96.88% [3] - Co-manager of the fund, Huo Shunchao, has a tenure of 2 years and 197 days, managing assets totaling 18.404 billion CNY, with the best return of 18.99% and the worst return of 0.22% during his tenure [3]

Core Insights - On October 20, Seagull Housing Industry saw a stock price increase of 5.78%, reaching 4.39 CNY per share, with a trading volume of 232 million CNY and a turnover rate of 8.61%, resulting in a total market capitalization of 2.836 billion CNY [1] Company Overview - Guangzhou Seagull Housing Industry Co., Ltd. is located in Panyu District, Guangzhou, Guangdong Province, and was established on January 8, 1998, with its listing date on November 24, 2006 [1] - The company's main business includes the research, manufacturing, and sales of metal products, daily necessities, hardware products, and ceramic products [1] - Revenue composition: Hardware products account for 58.18%, tiles 23.06%, smart home products 7.98%, ceramic bathtubs 3.74%, others 3.22%, integrated bathroom 2.07%, and custom cabinets 1.75% [1] Fund Holdings - From the perspective of major fund holdings, one fund under Guolian Fund has a significant position in Seagull Housing Industry [2] - Guolian Xinqidian Mixed A (001413) held 13,400 shares in the second quarter, representing 0.57% of the fund's net value, making it the second-largest holding [2] - The estimated floating profit for today is approximately 3,216 CNY [2] Fund Manager Performance - The fund manager Zhao Fei has a tenure of 10 years and 163 days, with the fund's total asset size at 272 million CNY, achieving a best return of 72.58% and a worst return of -96.88% during his tenure [3] - Co-manager Huo Shunchao has a tenure of 2 years and 195 days, with a total asset size of 18.404 billion CNY, achieving a best return of 16.98% and a worst return of 0.21% during his tenure [3]

Core Points - On October 17, Seagull Housing Industry saw a stock price increase of 6.88%, reaching 4.35 CNY per share, with a trading volume of 201 million CNY and a turnover rate of 7.79%, resulting in a total market capitalization of 2.81 billion CNY [1] - Seagull Housing Industry, established on January 8, 1998, and listed on November 24, 2006, is based in Guangzhou, Guangdong Province, and specializes in the research, manufacturing, and sales of metal products, daily necessities, hardware products, and ceramic products [1] - The company's revenue composition includes: 58.18% from hardware products, 23.06% from tiles, 7.98% from smart home products, 3.74% from ceramic bathtubs, 3.22% from other products, 2.07% from integrated bathroom solutions, and 1.75% from custom cabinets [1] Fund Holdings - According to data, Guolian Fund has a significant holding in Seagull Housing Industry through its fund Guolian Xinqidian Mixed A (001413), which held 13,400 shares in the second quarter, accounting for 0.57% of the fund's net value, making it the second-largest holding [2] - The estimated floating profit from this holding today is approximately 3,752 CNY [2] - Guolian Xinqidian Mixed A was established on June 12, 2015, with a current scale of 567.3 million CNY, and has achieved a year-to-date return of 14.81%, ranking 5,196 out of 8,160 in its category [2] Fund Manager Performance - The fund managers of Guolian Xinqidian Mixed A are Zhao Fei and Huo Shunchao, with Zhao Fei having a tenure of 10 years and 160 days, managing assets totaling 272 million CNY, achieving a best return of 72.58% and a worst return of -96.88% during his tenure [3] - Huo Shunchao has a tenure of 2 years and 192 days, managing assets of 18.404 billion CNY, with a best return of 19.41% and a worst return of 0.17% during his tenure [3]

Group 1 - The stock of Seagull Housing Industry fell by 5.16%, trading at 3.86 CNY per share, with a total market capitalization of 2.494 billion CNY [1] - Seagull Housing Industry, established on January 8, 1998, and listed on November 24, 2006, is based in Guangzhou, Guangdong Province, and specializes in the research, manufacturing, and sales of metal products, daily necessities, hardware products, and ceramic products [1] - The company's main revenue sources include: 58.18% from hardware faucets, 23.06% from tiles, 7.98% from smart home products, 3.74% from ceramic bathtubs, 3.22% from others, 2.07% from integrated bathroom products, and 1.75% from custom cabinets [1] Group 2 - Guolian Fund has one fund heavily invested in Seagull Housing Industry, specifically Guolian Xinqidian Mixed A (001413), which held 13,400 shares, accounting for 0.57% of the fund's net value [2] - The fund has experienced a floating loss of approximately 2,814 CNY today [2] - Guolian Xinqidian Mixed A was established on June 12, 2015, with a current scale of 567.3 million CNY, and has achieved a year-to-date return of 14.81% [2] Group 3 - The fund manager of Guolian Xinqidian Mixed A is Zhao Fei, who has been in the position for 10 years and 160 days, with a total asset scale of 272 million CNY [3] - Zhao Fei's best fund return during his tenure is 72.58%, while the worst is -96.88% [3] - The co-manager, Huo Shuncha, has been in the role for 2 years and 192 days, managing assets totaling 18.404 billion CNY, with a best return of 19.41% and a worst return of 0.17% during his tenure [3]

Group 1 - The stock price of Seagull Housing Industry fell by 5.2% to 4.19 CNY per share, with a trading volume of 501 million CNY and a turnover rate of 17.95%, resulting in a total market capitalization of 2.707 billion CNY [1] - Seagull Housing Industry, established on January 8, 1998, and listed on November 24, 2006, is based in Guangzhou, Guangdong Province, and specializes in the research, manufacturing, and sales of metal products, daily necessities, hardware products, and ceramic products [1] - The company's main revenue composition includes: 58.18% from hardware products, 23.06% from tiles, 7.98% from smart home products, 3.74% from ceramic bathtubs, 3.22% from other products, 2.07% from integrated bathroom solutions, and 1.75% from custom cabinets [1] Group 2 - The Guolian Fund has one fund heavily invested in Seagull Housing Industry, specifically the Guolian Xinqidian Mixed A Fund (001413), which held 13,400 shares in the second quarter, accounting for 0.57% of the fund's net value, making it the second-largest holding [2] - The Guolian Xinqidian Mixed A Fund (001413) was established on June 12, 2015, with a latest scale of 567,300 CNY, and has achieved a year-to-date return of 15.53%, ranking 5257 out of 8234 in its category [2] - The fund has a one-year return of 19.09%, ranking 4362 out of 8083, and a total return since inception of 20.22% [2]