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舒达焕新奇妙季来袭,与喜人共赴欢乐好眠躺赢之约
Bei Jing Shang Bao· 2025-09-20 14:24
「喜人奇妙夜 2」正式定档 9 月 26 日,精彩即将拉开帷幕! 还记得上次喜人们与舒达智能床碰撞出的奇妙火花吗?当喜剧的欢乐能量邂逅静谧的好眠氛围,二者交 融所产生的奇妙化学反应,至今仍让人回味无穷。 这一次,舒达决定将这份欢乐再度升级、无限放大——先享钜惠,再遇喜人!2025 年 9 月 15 日至 10 月 8 日,舒达「焕新奇妙季」将盛大开启。 此次活动,焕新优惠与奇妙体验双重福利强力加持。超值优惠活动全面覆盖床垫、床架、家纺、智能床 等全品类产品,让您在舒适的床上收获满满的惊喜与满足!同时,八位深受观众喜爱的喜人演员也将陆 续亮相八大城市的活动现场,与舒达再度携手合作。从舞台上的欢声笑语到床垫上的舒适好梦,舒达将 体验会全新升级为更加热闹非凡的"奇妙季"。八城的具体名单将陆续揭晓,请您持续关注,切勿错过与 喜人近距离互动的绝佳机会! 与"喜人"共度"奇妙夜",舒达「焕新奇妙季」再升级 没错!舒达「焕新奇妙季」,喜人又又又又来啦!这群用幽默与创意承包你无数笑声的"喜人"天团,将 分别空降八大城市的舒达线下活动现场,与大家近距离互动! 想象一下,当您卸下一天的疲惫,全身心沉浸在舒达床垫与智能床所营造的云 ...
慕思股份深陷“举报门”!一年关停300家线下店,募投项目不及预期
Shen Zhen Shang Bao· 2025-09-19 06:10
Core Viewpoint - Mousse Health Sleep Co., Ltd. is facing allegations from several distributors regarding profit manipulation and management practices, which the company denies, asserting compliance with accounting standards and audit approvals [1][2]. Financial Performance - In the first half of 2025, Mousse reported revenue of 2.478 billion yuan, a decrease of 5.76% year-on-year, and a net profit of 358 million yuan, down 4.14% year-on-year [2][3]. - The mattress segment saw a slight revenue increase of 1.25% to 1.256 billion yuan, while revenues from bed frames, sofas, bedding, and other products declined [2][3]. Business Operations - The company has approximately 5,300 offline specialty stores through distribution channels, indicating a reduction of about 300 stores over the past year [4]. - Mousse's distribution model is crucial for expanding its marketing and service networks, but it also presents management challenges due to the dispersed nature of its distributors [4]. Investment Projects - The "East China Health Bedding Production Line Construction Project" has not yet achieved the expected benefits, with production capacity gradually being released [4][5]. Market Performance - As of the afternoon of the 19th, Mousse's stock price was 27.89 yuan per share, with a total market capitalization of 12.134 billion yuan, reflecting a decline of 16.78% since the beginning of 2025 [5].
经销商称已亏1000多万!知名品牌回应举报
Nan Fang Du Shi Bao· 2025-09-12 05:26
Core Viewpoint - Mousse Health Sleep Co., Ltd. is facing renewed allegations from distributors regarding profit exploitation and financial misconduct, with previous complaints surfacing in 2021 and 2023, raising concerns about the company's operational integrity and reliance on its distribution model [1][17][19]. Group 1: Distributor Complaints - Several distributors from Jiangsu and Chongqing have accused Mousse of requiring regular store renovations, imposing various fines categorized as "off-balance income," and manipulating profit figures [1][3][10]. - A distributor reported a loss exceeding 10 million yuan due to Mousse's practices, which include monopolizing store decoration contracts and enforcing strict compliance with renovation schedules [4][8]. - Complaints also highlight that Mousse forces distributors to purchase new products under threat of penalties, leading to financial strain on the distributors [8][10]. Group 2: Company Response - Mousse has denied the allegations, asserting that all claims are unfounded and that the company operates within legal and accounting standards, with its financial reports receiving unqualified opinions from auditing firms [1][17]. - The company emphasizes its commitment to treating distributors as strategic partners and aims for mutual growth [17]. Group 3: Financial Performance and Business Model - Mousse's revenue heavily relies on its distribution model, with 74.13% of its revenue in 2024 coming from distributors, amounting to approximately 4.15 billion yuan [1][21]. - The company reported a slight increase in total revenue from 5.58 billion yuan in 2023 to 5.60 billion yuan in 2024, indicating a 0.43% growth [21]. - The furniture manufacturing segment remains the primary revenue source, contributing 98.56% of total revenue, with mattress sales alone accounting for 47.81% [21][22].
慕思股份20250902
2025-09-02 14:41
Summary of Mousse Co. Conference Call Company Overview - Mousse Co. is focusing on high-end and youth-oriented product strategies to expand its market reach and attract a broader consumer base [2][4] - The company is leveraging cost scale effects and expense sharing to enhance profitability [2][5] Industry Insights - The Chinese mattress market had a size of approximately 70.8 billion yuan in 2020, with a compound annual growth rate (CAGR) of 1.9% over the past 15-20 years [2][6] - The mattress industry is characterized by low concentration, with the top three companies holding only 16% of the market share as of 2021 [6] Competitive Positioning - Mousse's core mattress pricing is positioned higher than brands like Xilinmen and Kuka, but lower than premium brands like Serta and Tempur [7] - The company aims to attract high-end customers through innovative products like AI mattresses, which enhance product value and meet consumer demands for health monitoring [5][7] Revenue Growth Potential - Mousse is expected to achieve revenue growth by continuously expanding its consumer base and product offerings, including the introduction of AI mattresses [4] - The company is actively developing e-commerce channels, achieving a compound annual growth rate of 25.5% from 2018 to 2023 [8] Product and Category Expansion - Mousse is expanding its product range beyond mattresses to include bed frames, bedding, and sofas, catering to one-stop shopping needs and increasing average order value [10] - The introduction of bedroom and whole-home furniture packages is aimed at enhancing overall revenue [10] Profitability Strategies - The company is addressing profit margin pressures through business structure reforms and SKU simplification, with Q2 2023 marking a turning point for profitability improvement [3][11] - Mousse is benefiting from a decrease in raw material prices and the release of scale effects, which are expected to improve overall profit margins [11] Expense Management - The company is experiencing significant impacts on profit recovery from expense management, particularly through the sharing of fixed costs as revenue scales up [12][13] - Mousse's future profitability is expected to improve as advertising and promotional expenses decrease, similar to the trajectory observed in Boss Electric [12][14] Long-term Outlook - Mousse has substantial potential for profit margin improvement by following a growth path similar to Boss Electric, focusing on channel expansion and consumer coverage [14]
同比减少400家线下专卖店!慕思股份上半年营收净利双下滑
Nan Fang Du Shi Bao· 2025-09-02 08:37
Core Insights - The company reported a revenue decline of 5.76% year-on-year to 2.478 billion yuan in the first half of 2025, with a net profit attributable to shareholders decreasing by 4.14% to 358 million yuan [2] - The overall demand in the home furnishing industry remains weak due to a deep adjustment in the real estate market and sluggish domestic consumption [2] - The mattress category remains the largest revenue contributor, with a 1.25% increase in revenue to 1.256 billion yuan, accounting for 50.69% of total revenue [2] Financial Performance - The company's net profit excluding non-recurring items fell by 20.97% to 285 million yuan [2] - Gross margins for mattresses and bed frames increased slightly, with mattress gross margin rising by 1.79% to 63.55% and bed frame gross margin increasing by 1.56% to 49.35% [3] - The furniture manufacturing industry experienced a revenue decline of 5.81% and a cost decline of 6.61%, with a slight gross margin increase of 0.42% [4] Market Segmentation - Domestic market revenue decreased by 7.71% to 2.369 billion yuan, representing 95.60% of total revenue, while the overseas market saw a significant increase of 73.97% to 109 million yuan, accounting for 4.40% [6] - The company operates through a multi-channel sales strategy, primarily relying on distributors, with a presence in major retail locations and direct stores in cities like Beijing, Shanghai, and Hong Kong [6] Store Operations - The company reduced its number of offline stores from 5,700 to over 5,300 in the past year, averaging a closure of more than one store per day [6] - The company is optimizing its traditional channel by enhancing core store locations and focusing resources on high-traffic areas [6]
慕思股份(001323) - 2025年8月28-29日投资者关系活动记录表
2025-09-01 03:08
Financial Performance - In the first half of 2025, the company achieved a revenue of 2.478 billion CNY, a decrease of 5.76% year-on-year [2] - The net profit attributable to shareholders was 358 million CNY, representing a year-on-year increase of 3.35% [3] - The comprehensive gross margin for the first half of 2025 was 51.90%, an increase of 0.64 percentage points year-on-year [3] Revenue Breakdown By Product Category - Revenue from mattresses, bed frames, sofas, bedding, and others was 1.256 billion, 695 million, 176 million, 116 million, and 194 million CNY respectively, with year-on-year changes of 1.25%, -10.68%, -15.64%, -22.23%, and -7.97% [3] By Sales Channel - Revenue from distribution, e-commerce, direct supply, direct sales, and others was 1.860 billion, 471 million, 85 million, 16 million, and 46 million CNY respectively, with year-on-year changes of -2.79%, -14.07%, 7.49%, -66.73%, and 11.65% [3] By Region - Domestic and overseas revenue was 2.369 billion and 109 million CNY respectively, with year-on-year changes of -7.71% and 73.97% [3] AI Product Development - AI mattress revenue in the first half of 2025 was 121 million CNY, with a focus on traditional distribution channels and high-traffic core business districts for store placements [4] - The company plans to release new collaborative products in the second half of the year [4] E-commerce Performance - E-commerce revenue was 471 million CNY, a year-on-year decline of 14.07%, with a gross margin of 51.22%, down 1.63 percentage points [4] - Cross-border e-commerce revenue grew by 91.88% year-on-year [4] Overseas Business Strategy - Overseas revenue reached 109 million CNY, a year-on-year increase of 73.97%, focusing on Southeast Asia and major platforms like Wayfair and Amazon [5] National Subsidy Impact - National subsidy-related revenue exceeded 300 million CNY in the first half of 2025, significantly boosting performance in March and April [6] Customer Service and Membership Growth - The company launched the "Musi Gold Manager 4.0" service system, achieving over 3.92 million registered members by the end of the reporting period [7] Dividend Policy - The proposed dividend for the first half of 2025 is 4.5 CNY per 10 shares (tax included), emphasizing a commitment to stable and continuous returns for investors [8]
慕思股份股价小幅回落 全球睡眠文化之旅即将启程南极
Sou Hu Cai Jing· 2025-08-12 13:56
Company Overview - Mousse Co., Ltd. is primarily engaged in the research, development, production, and sales of health sleep systems, including mattresses and bed frames [1] - The company operates within the home light industry sector and has a business presence across multiple provinces and cities in China [1] Recent Developments - As of August 12, 2025, Mousse's stock price closed at 32.05 yuan, reflecting a decrease of 0.87% from the previous trading day [1] - The company announced a temporary shareholders' meeting scheduled for August 13 to review the proposal for capital reserve conversion into share capital for the fiscal year 2024 [1] - Mousse will launch its 17th Global Sleep Culture Journey on August 18, with its AI smart mattress set to be tested in extreme cold conditions aboard the polar research icebreaker "Xuelong" [1] Market Activity - On August 12, the main funds experienced a net outflow of 1.2007 million yuan, with a cumulative net outflow of 5.0437 million yuan over the past five trading days [2]
慕思股份股价微涨0.78% 智能床新国标实施引关注
Sou Hu Cai Jing· 2025-08-08 20:59
Group 1 - The stock price of Mousse Co., Ltd. closed at 32.30 yuan on August 8, 2025, with an increase of 0.25 yuan, representing a rise of 0.78% [1] - The trading volume on that day was 5,576 hands, with a transaction amount of 18 million yuan and a turnover rate of 0.68% [1] Group 2 - Mousse Co., Ltd. is primarily engaged in the research, production, and sales of health sleep systems, including mattresses, bed frames, and bedding [1] - The company has established one national CNAS laboratory and three provincial-level research and development platforms, accumulating a total of 3,589 intellectual property rights [1] Group 3 - Recent developments include the implementation of the national standard for "Smart Beds" on August 1, which sets regulations on product safety and intelligent performance [2] - On August 7, the company announced plans to resolve equity distribution issues caused by share repurchase and cancellation through a capital reserve transfer, expected to be completed by August 21 [2] - The total guarantee amount for the company's wholly-owned subsidiary is 1.68 billion yuan, accounting for 37.19% of the audited net assets for the year 2024 [2] Group 4 - On August 8, the net inflow of main funds was 273,000 yuan, while there was a net outflow of 6.9931 million yuan over the past five days [2]
西藏打出促消费“组合拳”亿元补贴激活市场新动能
Shang Wu Bu Wang Zhan· 2025-07-14 14:23
Core Insights - The article discusses the implementation of the Tibet 2025 National Subsidy Policy and the "Happy Tibet, Enjoy Life" consumption promotion activities, which are aimed at stimulating the consumer market through various subsidies and initiatives [1] Group 1: National Subsidy Policy - The Tibet 2025 National Subsidy Policy focuses on "trade-in" incentives across five key consumption areas, including automobiles, home appliances, and home decoration [2] - As of June 30, 2023, the policy has allocated a total of 440 million yuan in subsidies, with 260 million yuan utilized for 320,000 trade-in transactions, resulting in retail sales of 1.59 billion yuan [1][2] - Specific subsidies for automobile purchases include up to 20,000 yuan for trading in older vehicles and additional incentives for purchasing new energy vehicles [2] Group 2: "Happy Tibet, Enjoy Life" Activities - The "Happy Tibet, Enjoy Life" initiative has organized 202 events by June 30, 2023, utilizing 380 million yuan in subsidies and directly stimulating consumption by 3.2 billion yuan [1][6] - The program offers tiered subsidies for new vehicle purchases, with additional benefits for new energy vehicles, enhancing affordability for consumers [3] - The initiative also includes broad consumer engagement through discounts and promotional activities in sectors like dining and retail, with single transaction discounts reaching up to 20% [6] Group 3: Home Appliances and Other Products - The national subsidy covers a wide range of home appliances, providing 15% to 20% discounts based on energy efficiency ratings, with a maximum subsidy of 2,000 yuan per item [4] - In the 3C digital product category, consumers can receive a 15% subsidy on items priced under 6,000 yuan, with a cap of 500 yuan per item [4] - For electric bicycles, a 30% subsidy is available for trade-ins, capped at 1,000 yuan, while home improvement products receive a 20% subsidy, with higher rates for low-income households [5]
慕思股份参投产业基金完成注册登记
Sou Hu Cai Jing· 2025-05-16 01:27
Group 1 - The company announced the establishment of an industrial fund with a total scale not exceeding RMB 200 million, in collaboration with Suzhou Weitili New Venture Capital Management Co., Ltd [2] - The fund was registered on April 9, 2025, and completed filing with the Asset Management Association of China on May 14, 2025 [2] - The fund manager is Suzhou Weitili New Venture Capital Management Co., Ltd, and the custodian is Shanghai Pudong Development Bank Co., Ltd [2] Group 2 - The company reported operating revenues of RMB 5.813 billion, RMB 5.579 billion, and RMB 5.603 billion for the years 2022 to 2024, reflecting year-on-year changes of -10.31%, -4.03%, and 0.43% respectively [3] - The net profit attributable to the parent company for the same period was RMB 709 million, RMB 802 million, and RMB 767 million, with year-on-year growth rates of 3.27%, 13.25%, and -4.36% [3] - The company's asset-liability ratios were 25.02%, 35.13%, and 41.16% for the years 2022 to 2024 [3]