Core Insights - Jiangshan Oupai reported a significant decline in revenue and net profit for Q3 2025, with a revenue of 416 million yuan, down 48.92% year-on-year, and a net loss of approximately 51.58 million yuan [1] - For the first three quarters of 2025, the total revenue was 1.28 billion yuan, a decrease of 43.11% compared to the same period last year, with a net loss of about 41.49 million yuan [1] Revenue Breakdown - The revenue from laminated doors was 615 million yuan, down 51.47% year-on-year [1] - The revenue from solid wood composite doors was 184 million yuan, down 50.77% year-on-year [1] - Cabinet products generated 93 million yuan, down 37.98% year-on-year [1] - Other products accounted for 241 million yuan, down 12.14% year-on-year [1] - Franchise service fees increased to 107 million yuan, up 21.02% year-on-year [1] Reasons for Decline - The decline in net profit is attributed to an overall downturn in the industry, shrinking market demand, and intense competition [1] - Price adjustments on some products led to a decrease in gross margin [1] - Fixed costs such as depreciation and personnel expenses did not decrease in line with the revenue drop [1] - The company also made provisions for asset impairment [1]

根据上海证券交易所《上市公司行业信息披露指引第十五号——家具制造 （2022 年修订）》的有关规定，江山欧派门业股份有限公司（以下简称"公司） 现将 2025 年前三季度主要经营情况报告如下： | | | 江山欧派门业股份有限公司 关于 2025 年前三季度主要经营情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 注：上述表中数据尾差系四舍五入所致。 二、报告期代理经销商变动情况 2025 年前三季度代理经销商变动情况 | 类型 | 2025 | 年年初数量 | 2025 1-9 | 年 | 月新 | 2025 年 1-9 | | 月取 | 2025 年 | 9 月 30 日数 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | （家） | 开拓（家） | | | 消（家） | | | 量（家） | | | 代理经销商 | | 63,170 | | 10,631 | | | 118 | | 73,683 | | | 合 ...

Core Viewpoint - Jiangshan Oupai Door Industry Co., Ltd. reported a significant decline in revenue and gross profit margins for the first half of 2025, indicating challenges in the furniture manufacturing sector [2][3]. Group 1: Main Business Performance by Product - The total revenue for the first half of 2025 was RMB 836.66 million, a decrease of 39.36% year-on-year [2]. - The gross profit margin for the overall business was 17.51%, down from the previous year [2]. - The revenue from plywood doors was RMB 405.42 million, down 49.84% year-on-year, with a gross profit margin of 12.31% [2]. - The revenue from solid wood composite doors was RMB 139.67 million, down 44.69% year-on-year, with a gross profit margin of 9.22% [2]. - The revenue from cabinet products was RMB 65.41 million, down 29.69% year-on-year, with a gross profit margin of 8.52% [2]. - Other products generated revenue of RMB 159.76 million, down 6.90% year-on-year, with a gross profit margin of 9.54% [2]. - Franchise service fees contributed RMB 66.40 million, an increase of 22.32% year-on-year, with a gross profit margin of 94.69% [2]. Group 2: Main Business Performance by Channel - Revenue from the agency distribution channel was RMB 493.86 million, down 44.42% year-on-year, with a gross profit margin of 8.52% [3]. - Revenue from the direct engineering channel was RMB 192.73 million, down 51.46% year-on-year, with a gross profit margin of 14.28% [3]. - Revenue from foreign trade exports was RMB 83.66 million, an increase of 109.82% year-on-year, with a gross profit margin of 121.90% [3]. - Franchise service channel revenue was RMB 66.40 million, with a gross profit margin of 94.69% [3]. Group 3: Changes in Agency Distributors - The total number of agency distributors was 72,092, with 9,010 new openings and 88 closures during the reporting period [4].

| | | 江山欧派门业股份有限公司 关于 2025 年半年度主要经营情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据上海证券交易所《上市公司行业信息披露指引第十五号——家具制造 （2022 年修订）》的有关规定，江山欧派门业股份有限公司（以下简称"公司） 现将 2025 年半年度主要经营情况报告如下： 一、报告期经营情况 2025 年半年度代理经销商变动情况 注：由于代理商渠道和经销商渠道收入合并披露，相应的代理商和经销商数量也合并披露；公司对代 理经销商无开店要求。 注：上述表中数据尾差系四舍五入所致。 （二）2025 年半年度主营业务分渠道情况 单位：人民币万元 分产品 营业收入 营业成本 毛利率 （%） 营业收入同 比增减（%） 营业成本同 比增减（%） 毛利率同比 增减（%） 夹板模压门 40,541.52 35,551.76 12.31 -49.84 -44.54 -8.38 实木复合门 13,967.47 12,679.67 9.22 -44.69 -40.76 -6.02 柜类产品 6,540. ...

证券代码：603208 证券简称：江山欧派 公告编号：2025-020 债券代码：113625 债券简称：江山转债 （二）2025 年第一季度主营业务分产品情况 江山欧派门业股份有限公司 关于 2024 年度及 2025 年第一季度 主要经营情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 根据上海证券交易所《上市公司行业信息披露指引第十五号——家具制造 （2022 年修订）》的有关规定，江山欧派门业股份有限公司（以下简称"公司） 现将 2024 年度及 2025 年第一季度主要经营情况报告如下： 一、报告期经营情况 （一）2024 年度主营业务分产品情况 注：上述表中数据尾差系四舍五入所致。 分产品 营业收入 营业成本 毛利率 （%） 营业收入同 比增减（%） 营业成本同 比增减（%） 毛利率同比 增减（%） 夹板模压门 168,868.96 133,430.61 20.99 -22.16 -17.21 -4.72 实木复合门 48,146.83 42,271.47 12.20 -41.95 -36.11 -8.0 ...