好莱客所属申万行业为：轻工制造-家居用品-定制家居。所属概念板块包括：智能家居、工业4.0、专精 特新、小盘、短视频等。 截至9月30日，好莱客股东户数9123.00，较上期增加3.34%；人均流通股34127股，较上期减少3.22%。 2025年1月-9月，好莱客实现营业收入12.65亿元，同比减少12.38%；归母净利润3135.57万元，同比减少 65.53%。 1月9日，好莱客盘中下跌2.00%，截至10:11，报13.71元/股，成交5677.14万元，换手率1.31%，总市值 42.69亿元。 资金流向方面，主力资金净流出789.99万元，特大单买入0.00元，占比0.00%，卖出121.69万元，占比 2.14%；大单买入872.91万元，占比15.38%，卖出1541.21万元，占比27.15%。 好莱客今年以来股价涨3.01%，近5个交易日涨3.01%，近20日跌9.15%，近60日涨35.47%。 资料显示，广州好莱客创意家居股份有限公司位于广东省广州市天河区科韵路18号好莱客创意中心，成 立日期2007年4月9日，上市日期2015年2月17日，公司主营业务涉及家具制造。主营业务收入构成为 ...

截至9月30日，好莱客股东户数9123.00，较上期增加3.34%；人均流通股34127股，较上期减少3.22%。 2025年1月-9月，好莱客实现营业收入12.65亿元，同比减少12.38%；归母净利润3135.57万元，同比减少 65.53%。 资金流向方面，主力资金净流出272.85万元，特大单买入263.93万元，占比5.64%，卖出265.14万元，占 比5.67%；大单买入334.78万元，占比7.16%，卖出606.41万元，占比12.97%。 好莱客今年以来股价涨2.03%，近5个交易日涨3.19%，近20日涨0.67%，近60日涨35.80%。 资料显示，广州好莱客创意家居股份有限公司位于广东省广州市天河区科韵路18号好莱客创意中心，成 立日期2007年4月9日，上市日期2015年2月17日，公司主营业务涉及家具制造。主营业务收入构成为： 整体衣柜70.44%，橱柜21.34%，木门4.29%，成品配套3.93%。 好莱客所属申万行业为：轻工制造-家居用品-定制家居。所属概念板块包括：工业4.0、短视频、智能家 居、专精特新、IP概念（谷子经济）等。 1月5日，好莱客盘中上涨2.03%，截至 ...

12月23日，好莱客盘中下跌2.00%，截至09:44，报13.22元/股，成交1349.57万元，换手率0.33%，总市 值41.16亿元。 资金流向方面，主力资金净流出190.68万元，特大单买入115.98万元，占比8.59%，卖出265.00万元，占 比19.64%；大单买入105.94万元，占比7.85%，卖出147.61万元，占比10.94%。 截至9月30日，好莱客股东户数9123.00，较上期增加3.34%；人均流通股34127股，较上期减少3.22%。 2025年1月-9月，好莱客实现营业收入12.65亿元，同比减少12.38%；归母净利润3135.57万元，同比减少 65.53%。 今年以来好莱客已经4次登上龙虎榜，最近一次登上龙虎榜为12月8日，当日龙虎榜净买入1544.90万 元；买入总计3576.67万元 ，占总成交额比26.85%；卖出总计2031.77万元 ，占总成交额比15.25%。 资料显示，广州好莱客创意家居股份有限公司位于广东省广州市天河区科韵路18号好莱客创意中心，成 立日期2007年4月9日，上市日期2015年2月17日，公司主营业务涉及家具制造。主营业务收入构成为： ...

Core Points - The stock price of Haolaike increased by 2.05% on December 2, reaching 12.92 CNY per share, with a total market capitalization of 4.023 billion CNY [1] - Year-to-date, Haolaike's stock price has risen by 38.60%, but it has seen a decline of 2.86% in the last five trading days [1] - The company has experienced a net outflow of 1.4558 million CNY in main funds, with significant selling pressure observed [1][2] Financial Performance - For the period from January to September 2025, Haolaike reported a revenue of 1.265 billion CNY, a year-on-year decrease of 12.38% [2] - The net profit attributable to the parent company was 31.36 million CNY, reflecting a significant decline of 65.53% year-on-year [2] Shareholder Information - As of September 30, the number of shareholders for Haolaike increased to 9,123, marking a 3.34% rise from the previous period [2] - The average number of circulating shares per shareholder decreased by 3.22% to 34,127 shares [2] Dividend Information - Since its A-share listing, Haolaike has distributed a total of 846 million CNY in dividends, with 305 million CNY distributed over the past three years [3]

Investment Rating - The report maintains a "Strong Buy" rating for the company with a target price of 17.3 yuan per share [2][8]. Core Views - The company's performance is under short-term pressure, with expectations for market recovery in the future [2][8]. - The company reported a revenue of 1.265 billion yuan and a net profit attributable to shareholders of 31 million yuan for the first three quarters of 2025, reflecting a year-on-year decline of 12.38% and 65.53% respectively [2][8]. - In Q3 2025, the company achieved a revenue of 435 million yuan, with a net profit of 7 million yuan, showing a year-on-year decrease of 16.44% and 85.40% respectively [2][8]. Financial Summary - Total revenue projections for 2024A, 2025E, 2026E, and 2027E are 1.91 billion, 1.727 billion, 1.964 billion, and 2.152 billion yuan respectively, with year-on-year growth rates of -15.7%, -9.5%, 13.7%, and 9.6% [4][9]. - Net profit attributable to shareholders is projected to be 81 million, 54 million, 147 million, and 191 million yuan for the same years, with year-on-year growth rates of -62.9%, -32.5%, 171.1%, and 29.5% [4][9]. - The company’s gross margin for Q3 2025 was 29.2%, down 4.9 percentage points year-on-year, while the net profit margin was 1.5%, down 7.3 percentage points year-on-year [8][9]. Market Performance - The company is actively promoting channel transformation and smart home business, optimizing its store system, and continuously empowering distributors [8][9]. - The company has opened 1983 distribution stores and 2 direct sales stores by the end of Q3 2025, reflecting a year-to-date increase of 135 and a decrease of 7 respectively [8][9].

Group 1 - The core viewpoint of the news is that Haolaike's stock has shown significant performance, with a year-to-date increase of 22.29% and a recent 5-day increase of 7.45% [1] - As of November 14, Haolaike's stock price reached 11.40 yuan per share, with a market capitalization of 3.549 billion yuan [1] - The company has seen a net inflow of main funds amounting to 570,800 yuan, with large orders contributing to both buying and selling activities [1] Group 2 - Haolaike's main business revenue composition includes 70.44% from overall wardrobes, 21.34% from cabinets, 4.29% from wooden doors, and 3.93% from finished products [1] - As of September 30, the number of shareholders increased by 3.34% to 9,123, while the average circulating shares per person decreased by 3.22% to 34,127 shares [2] - For the period from January to September 2025, Haolaike reported a revenue of 1.265 billion yuan, a year-on-year decrease of 12.38%, and a net profit of 31.36 million yuan, down 65.53% year-on-year [2] Group 3 - Since its A-share listing, Haolaike has distributed a total of 846 million yuan in dividends, with 305 million yuan distributed over the past three years [3]

Core Points - The stock price of Haolaike increased by 2.02% on November 13, reaching 11.09 CNY per share, with a market capitalization of 3.453 billion CNY [1] - Year-to-date, Haolaike's stock price has risen by 18.97%, with a 6.74% increase over the last five trading days [1] - The company reported a revenue of 1.265 billion CNY for the first nine months of 2025, a year-on-year decrease of 12.38%, and a net profit of 31.36 million CNY, down 65.53% year-on-year [2] Financial Performance - Haolaike's main business revenue composition includes: 70.44% from overall wardrobes, 21.34% from cabinets, 4.29% from wooden doors, and 3.93% from finished products [1] - The company has distributed a total of 846 million CNY in dividends since its A-share listing, with 305 million CNY distributed over the last three years [3] Shareholder Information - As of September 30, the number of shareholders for Haolaike was 9,123, an increase of 3.34% from the previous period [2] - The average circulating shares per shareholder decreased by 3.22% to 34,127 shares [2]

证券代码：603898 证券简称：好莱客 公告编号：2025-045 广州好莱客创意家居股份有限公司 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。 | 门店类型 | 2025 | 年年初 | 2025 年 | 1-9 | 月 | 2025 年 | 1-9 | 月 | 2025 | 年 9 | 月 | 30 日数 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | 数量（家） | | 新开（家） | | | 关闭（家） | | | | | 量（家） | | | 经销商门店 | 1,848 | 356 | 221 | 1983 | | --- | --- | --- | --- | --- | | 直营店 | 9 | 0 | 7 | 2 | | 合计 | 1,857 | 356 | 228 | 1985 | 2、主营业务分渠道情况 | 分渠道 | 营业收入（元） | 营 ...

Core Insights - The company reported a decline in revenue and net profit for the first half of 2025, indicating challenges in its business operations [1][2]. Financial Performance - Total revenue for the first half of 2025 was 830.20 million yuan, a decrease of 10.09% compared to the same period last year [2]. - The net profit attributable to shareholders was 24.62 million yuan, down 45.12% year-on-year [2]. - The total profit for the period was 20.92 million yuan, reflecting a significant decline of 52.36% from the previous year [2]. - The net cash flow from operating activities was -128.60 million yuan, worsening by 149.48% compared to the same period last year [2]. Product Segment Performance - Revenue from the overall wardrobe segment was 56.70 million yuan, down 14.38% year-on-year [1]. - Cabinet revenue increased by 17.16% to 16.50 million yuan [1]. - Wood door revenue was 3.28 million yuan, a slight decrease of 0.60% [1]. - Revenue from finished matching products dropped significantly by 31.17% to 3.06 million yuan [1]. Channel Performance - Revenue from direct stores decreased by 42.64% to 20.44 million yuan [1]. - Revenue from distribution stores fell by 17.27% to 590 million yuan [1]. - Bulk business revenue grew by 41.08% to 18.40 million yuan [1].

Business Performance - The total operating revenue for the first half of 2025 is 794,910,746.73 CNY, with a decrease of 9.67% compared to the previous year [1] - The total operating cost is 538,788,041.15 CNY, reflecting a decrease of 5.99% year-on-year [1] - The overall gross profit margin is 32.22%, which is a reduction of 2.65 percentage points compared to the previous year [1] Product Segment Analysis - The revenue from overall wardrobes is 566,635,378.03 CNY, with a gross profit margin of 36.39%, showing a decrease of 14.38% in revenue year-on-year [1] - The revenue from cabinets is 164,884,014.74 CNY, with a gross profit margin of 22.27%, reflecting a year-on-year decrease of 17.16% [1] - The revenue from finished matching products is 30,615,828.06 CNY, with a gross profit margin of 18.38%, indicating a significant increase of 31.17% in revenue year-on-year [1] - The revenue from wooden doors is 32,775,525.90 CNY, with a gross profit margin of 23.11%, showing a slight decrease of 0.60% in revenue year-on-year [1] Channel Performance - Direct store revenue is 20,439,882.65 CNY, with a gross profit margin of 44.19%, reflecting a significant decrease of 42.64% year-on-year [1] - Dealer store revenue is 590,922,491.51 CNY, with a gross profit margin of 37.33%, showing a decrease of 17.27% compared to the previous year [1] - Bulk business revenue is 183,548,372.57 CNY, with a gross profit margin of 14.45%, indicating an increase of 41.08% year-on-year [1] Store Changes - The number of dealer stores is 1,848, with 221 new openings and 162 closures [2] - The number of direct stores is 9, with 0 new openings and 6 closures [2]