郑中设计公告称，2025年第四季度装修装饰业务按类型汇总，设计、软装、工程新签订单金额分别为 27762.32万元、23986.79万元、8067.90万元，总计59817.01万元；截至报告期末，累计已中标未签订单 金额为5078.37万元，其中设计、软装分别为1872.06万元、3206.31万元；累计已签约未完工订单金额为 374583.68万元，设计、软装、工程分别为300297.34万元、62580.87万元、11705.47万元。该季度无重大 项目，数据为阶段性未经审计数据。 ...

本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 证券代码：002811 证券简称：郑中设计 公告编号：2026-002 深圳市郑中设计股份有限公司 2025 年第四季度装修装饰业务主要经营情况简报 注：1、公司2025年第四季度不存在重大项目； 2、以上数据仅为阶段性数据且未经审计，仅供各位投资者参阅。 特此公告。 根据《深圳证券交易所股票上市规则》、《深圳证券交易所上市公司自律监 管指引第3号——行业信息披露》等相关规定，深圳市郑中设计股份有限公司（以 下简称"公司"）2025年第四季度装修装饰业务主要经营情况如下： 一、按业务类型分类订单汇总表 单位：万元 | 项目 类型 | 2025 年第四季度 新签订单金额 | | 截至报告期末累计 已中标未签订单金额 | 截至报告期末累计 已签约未完工订单金额 | | --- | --- | --- | --- | --- | | 设计 | | 27,762.32 | 1,872.06 | 300,297.34 | | 软装 | | 23,986.79 | 3,206.31 | 62,580.87 | | 工程 | ...

1月20日，欧派家居涨5.01%，截至发稿，报57.68元/股，成交1.88亿元，换手率0.54%，总市值351.36亿 元。 资料显示，欧派家居集团股份有限公司位于广东省广州市白云区广花三路366号，成立日期1994年7月1 日，上市日期2017年3月28日，公司主营业务涉及主要从事全屋家居产品的个性化设计、研发、生产、 销售、安装和室内装饰服务。由定制橱柜起步,并从橱柜向全屋产品延伸,覆盖整体厨房、整体衣柜(全屋 定制)、整体卫浴、定制木门系统、金属门窗、软装、家具配套等整体家居产品。主营业务收入构成 为：衣柜及配套家具产品51.74%，橱柜28.80%，木门6.00%，卫浴5.74%，其他4.69%，其他(补 充)3.04%。 从欧派家居十大流通股东角度 数据显示，华夏基金旗下1只基金位居欧派家居十大流通股东。华夏沪深300ETF（510330）三季度新进 十大流通股东，持有股数167.82万股，占流通股的比例为0.28%。根据测算，今日浮盈赚取约461.49万 元。 华夏沪深300ETF（510330）成立日期2012年12月25日，最新规模2280.61亿。今年以来收益2.34%，同 类排名4353 ...

Core Viewpoint - The transition of Juran Home from a "fixed rent" model to a "sales commission" model has sparked widespread discussion in the industry, with initial results showing high tenant recruitment rates and positive merchant feedback, raising questions about the potential for this model to revitalize the home furnishing market [1][2][5] Group 1: Transition to Sales Commission Model - Juran Home's chairman announced the shift to a "sales commission" model, aiming to complete the transition for 80% of its direct stores within three years [1][5] - The pilot implementation at Juran Home's Harbin store increased tenant recruitment from approximately 40% to 100%, while the new intelligent home experience center in Neijiang achieved a recruitment rate of 98% with sales exceeding 20 million yuan in just half a month [2][5] - The rental management income of Juran Home has been declining as a percentage of total revenue, dropping from 82.3% in 2019 to 55.75% in 2022, indicating a shift in the business model is necessary [5][6] Group 2: Industry Context and Challenges - The home furnishing market has seen a decline in foot traffic and tenant retention, leading to demands for reduced rent from merchants in various regions [9][10] - The traditional rental model, which relies heavily on fixed rents, is being challenged as merchants seek more flexible arrangements that align with their sales performance [10][12] - Juran Home's approach to eliminate fixed rent in favor of sales commissions is seen as a radical departure from industry norms, which typically combine fixed rents with sales-based incentives [6][10] Group 3: Potential Implications and Future Directions - The "sales commission" model may not be a universal solution, as previous attempts at "zero rent" models have not gained significant traction or proven effective [12][13] - Juran Home's strategy aims to reduce the financial burden on merchants, fostering a collaborative environment that could enhance marketing and supply chain partnerships [13][21] - The shift towards a sales commission model is expected to stimulate competition among home furnishing retailers, potentially leading to broader industry changes and innovations [21][23]

Core Viewpoint - The stock price of Oppein Home has experienced a decline of 20.17% year-to-date, with a recent drop of 2.01% on December 4, 2023, indicating potential challenges in the company's market performance [1]. Company Overview - Oppein Home Group Co., Ltd. was established on July 1, 1994, and listed on March 28, 2017. The company specializes in personalized design, research and development, production, sales, installation, and interior decoration services for whole-home furniture products [1]. - The main business revenue composition includes: wardrobes and matching furniture products (51.74%), cabinets (28.80%), wooden doors (6.00%), bathrooms (5.74%), and others (4.69%) [1]. Financial Performance - For the period from January to September 2025, Oppein Home reported a revenue of 13.214 billion yuan, a year-on-year decrease of 4.79%, and a net profit attributable to shareholders of 1.832 billion yuan, down 9.77% year-on-year [2]. - Since its A-share listing, Oppein Home has distributed a total of 7.234 billion yuan in dividends, with 4.249 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Oppein Home is 20,700, a decrease of 1.78% from the previous period, with an average of 29,382 circulating shares per person, an increase of 1.81% [2]. - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited holding 11.1909 million shares, a decrease of 488,600 shares from the previous period [3].

Core Viewpoint - The stock price of Oppein Home has experienced a decline of 21.39% year-to-date, with a recent drop of 2.01% on November 17, 2023, indicating potential challenges in the company's market performance [1]. Company Overview - Oppein Home Group Co., Ltd. is located in Baiyun District, Guangzhou, Guangdong Province, and was established on July 1, 1994. The company was listed on March 28, 2017. Its main business involves personalized design, research and development, production, sales, installation, and interior decoration services for whole-home furniture products [1]. - The company's revenue composition includes: wardrobes and supporting furniture products (51.74%), cabinets (28.80%), wooden doors (6.00%), bathrooms (5.74%), and others (4.69%) [1]. Financial Performance - For the period from January to September 2025, Oppein Home reported operating revenue of 13.214 billion yuan, a year-on-year decrease of 4.79%. The net profit attributable to the parent company was 1.832 billion yuan, down 9.77% year-on-year [2]. - Since its A-share listing, Oppein Home has distributed a total of 7.234 billion yuan in dividends, with 4.249 billion yuan distributed over the past three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Oppein Home was 20,700, a decrease of 1.78% from the previous period. The average number of circulating shares per person increased by 1.81% to 29,382 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 11.1909 million shares (a decrease of 488,600 shares), and several new institutional shareholders such as ICBC Value Selection Mixed A and E Fund Yuxin Bond A [3].

Core Viewpoint - The stock price of Oppein Home has experienced a decline of 21.15% year-to-date, with a recent drop of 2.04% on November 3, 2023, indicating potential challenges in the company's market performance [1]. Financial Performance - For the period from January to September 2025, Oppein Home reported a revenue of 13.214 billion yuan, representing a year-on-year decrease of 4.79%. The net profit attributable to shareholders was 1.832 billion yuan, down 9.77% compared to the previous year [2]. - Cumulative cash dividends since the company's A-share listing amount to 7.234 billion yuan, with 4.249 billion yuan distributed over the last three years [3]. Shareholder Information - As of September 30, 2025, the number of shareholders for Oppein Home is 20,700, a decrease of 1.78% from the previous period. The average number of circulating shares per person has increased by 1.81% to 29,382 shares [2]. - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which holds 11.1909 million shares, a reduction of 488,600 shares from the previous period. New shareholders include ICBC Value Selection Mixed A and several ETFs [3]. Market Activity - On November 3, 2023, Oppein Home's stock traded at 52.41 yuan per share, with a total market capitalization of 31.926 billion yuan. The trading volume was 45.3642 million yuan, with a turnover rate of 0.14% [1]. - The net inflow of main funds was 3.2131 million yuan, with large orders accounting for 15.40% of purchases and 8.32% of sales [1]. Business Overview - Oppein Home, established on July 1, 1994, and listed on March 28, 2017, specializes in personalized design, research and development, production, sales, installation, and interior decoration services for whole-home furniture products. The main revenue sources include wardrobes and matching furniture (51.74%), cabinets (28.80%), wooden doors (6.00%), and bathrooms (5.74%) [1]. - The company operates within the light industry manufacturing sector, specifically in customized home products, and is associated with concepts such as C2M, customized home, and mid-cap stocks [1].

Financial Data and Key Metrics Changes - The company reported Q3 2025 sales of $194.5 million, a 10.6% increase year-over-year, with comparable store sales up 7.1% [3][13] - Gross margin improved to 60.3% from 60.2% in Q3 2024, with a pre-tax profit of $6.4 million, down from $6.9 million in the prior year [4][14] - Earnings per share (EPS) decreased to $0.28 from $0.29 in Q3 2024 [15] Business Line Data and Key Metrics Changes - The design business accounted for 34.2% of sales, driven by a 7.1% increase in special order upholstery [5] - Average ticket size increased to over $4,000, with design average ticket rising to over $8,000 [4][5] - All product categories showed increases, with bedroom and bedding leading in growth at low to mid double digits [9] Market Data and Key Metrics Changes - Customer traffic remained positive, with mid single-digit growth compared to last year [5] - The company noted that customers with household incomes over $150,000 continued to spend, providing confidence for future performance [5] Company Strategy and Development Direction - The company aims to return to a billion-dollar revenue level without additional investments in distribution infrastructure [3] - Plans to open four additional stores in 2026, focusing on improving customer experience through investments in bedding departments and design centers [11] - The company is adjusting retail prices strategically to maintain values and margins in response to new tariffs [6][7] Management's Comments on Operating Environment and Future Outlook - Management highlighted ongoing challenges such as high interest rates, rising home prices, and geopolitical tensions affecting consumer confidence [5] - Despite these challenges, management expressed optimism due to strong performance in key markets and customer segments [5][12] Other Important Information - The company invested an additional $2.8 million in marketing during the quarter, including a successful direct mail campaign [10] - The company has a debt-free balance sheet and ended the quarter with $130.5 million in cash and cash equivalents [16] Q&A Session Summary Question: Can you comment on the monthly trends in Q3 and any regional differences? - Management reported July sales up 10.6%, August up 10.9%, and September up over 8%, with consistent delivery performance across regions [20][21] Question: Can you quantify the impact of tariffs on the quarter? - Management indicated they do not have a specific dollar impact but adjusted pricing to mitigate tariff effects [22][24] Question: How should expenses be viewed for next year? - Management expects normal inflationary increases in non-variable costs, with a focus on maintaining marketing levels [26][28] Question: What is the level of sales needed to leverage SG&A expenses? - Historical data suggests that sales above $800 million lead to significant operating margin expansion [35]

证券代码：002811 证券简称：郑中设计 公告编号：2025-071 深圳市郑中设计股份有限公司 2025 年第三季度装修装饰业务主要经营情况简报 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 单位：万元 | 项目 类型 | 2025 年第三季度 新签订单金额 | | 截至报告期末累计 已中标未签订单金额 | 截至报告期末累计 已签约未完工订单金额 | | --- | --- | --- | --- | --- | | 设计 | | 47,750.09 | 13,483.25 | 296,330.99 | | 软装 | | 25,772.30 | 6,851.18 | 69,928.91 | | 工程 | | | | 9,290.53 | | 合计 | | 73,522.39 | 20,334.43 | 375,550.43 | 注：1、公司2025年第三季度不存在重大项目； 2、以上数据仅为阶段性数据且未经审计，仅供各位投资者参阅。 特此公告。 深圳市郑中设计股份有限公司董事会 2025 年 10 月 30 日 根据《深圳证券交易所股票上市规则》、《深圳 ...

Core Viewpoint - The company aims to become a century-old enterprise by navigating through the challenges of the real estate and home furnishing industry, focusing on seizing market opportunities during the ecological transition while adhering to the "big home + information technology" strategy to withstand economic cycles [2] Company Development - Since its inception in 1994, the company has expanded its product offerings from kitchen cabinets to a comprehensive home furnishing system, including overall kitchens, wardrobes, bathrooms, and furniture [3] - In 2024, the company is projected to experience its first negative growth in revenue and net profit [3] Strategic Response - The company is proactively transforming in response to challenges such as the adjustment in the real estate sector and declining consumer confidence [4] - Key transformation initiatives include enhancing e-commerce channels, launching live streaming for sales, and collaborating with integrated decoration companies to avoid internal competition [4][5] Market Adaptation - The company has observed a revival in confidence among its distributors, with many reporting a 15% increase in performance post-transformation [5] - The younger generation, particularly the "90s" and "Z generation," is becoming a significant consumer force, driving changes in the supply side of the home furnishing industry [5] Product and Service Innovation - The company has upgraded its strategy to "full case customization," integrating renovation design into its product system to achieve a seamless "renovation + home furnishing" experience [6] - A case study showed that a distributor's customer transaction cycle decreased from 45 days to 30 days, with a 25% increase in repurchase rates after adopting the full case customization model [6] Technological Advancements - The company has restructured its design software to the "Smart Home Cloud" system, which integrates AI technology to streamline the design and production process [7] - The new system can generate renovation effect diagrams in one minute and automate the entire production process upon design confirmation [7] Smart Manufacturing - The company has established five smart production bases, achieving varying degrees of automation, with the Wuhan base fully automating the production process from raw materials to finished products [8] - The implementation of AI algorithms in production scheduling has reduced order delivery cycles by 20% [8] Future Outlook - The company is focusing on internal capabilities rather than engaging in price wars, preparing for future growth in the home furnishing industry [9] - Future plans include further integration of AI design capabilities and upgrading to a fully data-driven management approach across the entire supply chain [9]