美芝股份今年以来股价涨36.66%，近5个交易日涨5.18%，近20日跌3.82%，近60日涨23.65%。 今年以来美芝股份已经3次登上龙虎榜，最近一次登上龙虎榜为11月27日，当日龙虎榜净买入-908.61万 元；买入总计5242.77万元 ，占总成交额比24.50%；卖出总计6151.38万元 ，占总成交额比28.74%。 12月29日，美芝股份盘中下跌3.15%，截至09:35，报12.60元/股，成交2803.53万元，换手率1.76%，总 市值17.05亿元。 截至9月30日，美芝股份股东户数1.15万，较上期增加5.92%；人均流通股10772股，较上期减少5.59%。 2025年1月-9月，美芝股份实现营业收入2.41亿元，同比减少54.84%；归母净利润-4425.83万元，同比增 长26.79%。 资金流向方面，主力资金净流出102.51万元，特大单买入225.29万元，占比8.04%，卖出111.45万元，占 比3.98%；大单买入398.93万元，占比14.23%，卖出615.27万元，占比21.95%。 资料显示，深圳市美芝装饰设计工程股份有限公司位于广东省深圳市福田区梅林街道梅丰社 ...

Core Viewpoint - The resignation of two executives from Meizhi Co., Ltd. shortly after the release of the Q3 report raises concerns about the company's governance and performance, especially given the historical context of executive turnover following financial disclosures [1][2]. Executive Changes - Two executives, Li Suhua and Li Bi Jun, were removed from their positions as non-independent directors, with Li Bi Jun being the daughter of Li Suhua, the former actual controller of the company [1]. - The recent resignations follow a pattern of executive changes that have occurred after the release of quarterly reports, indicating potential governance issues within the company [1][2]. Company Background - Meizhi Co., Ltd. was founded in 1984 and initially struggled as a small decoration company, nearly facing bankruptcy before being revitalized by Li Suhua [2]. - In December 2020, Li Suhua transferred 29.99% of his shares to Guangdong Yijian, marking a significant change in control, with Guangdong Yijian becoming the new controlling shareholder [2]. Financial Performance - The company has reported continuous losses from 2021 to 2024, with net profits of -161 million, -143 million, -174 million, and -257 million yuan respectively [6]. - In the first half of 2023, revenue and net profit both declined significantly, with revenue dropping by 66.47% to approximately 123 million yuan and net profit loss of 34.76 million yuan, a 55.25% decrease year-on-year [6][12]. Legal Issues - Li Suhua is currently involved in a legal dispute with Guangdong Yijian regarding performance guarantees related to the company's financial results from 2021 to 2023, with a compensation amounting to approximately 348 million yuan [7][8]. - The ongoing litigation is in the second-instance stage, indicating unresolved issues that could impact the company's financial stability [8]. Business Operations - Meizhi Co., Ltd. focuses on decoration and renovation, with its main business segments including public building decoration and residential renovation [10]. - In the first half of 2023, the decoration segment accounted for 53.35% of total revenue, while construction engineering decoration contributed 42.54% [11][12]. Asset Management - To improve liquidity and focus on core business operations, the company announced plans to sell 50 properties with a total area of 3,097.90 square meters, with a minimum valuation of approximately 39.31 million yuan [10]. Financial Ratios - The company's debt-to-asset ratio has been increasing, reaching 95.05% in the first half of 2023, indicating a concerning level of financial leverage [12].