Financial Performance - The company's revenue for Q1 2025 was CNY 1,730,221,468.28, a decrease of 1.76% compared to CNY 1,761,132,019.31 in the same period last year[4]. - Net profit attributable to shareholders was CNY 71,100,006.20, down 4.02% from CNY 74,079,494.92 year-on-year[4]. - The net profit after deducting non-recurring gains and losses was CNY 59,952,541.07, representing a decline of 19.31% compared to CNY 74,303,818.09 in the previous year[4]. - Total revenue for Q1 2025 was CNY 1,730,221,468.28, a decrease of 1.8% compared to CNY 1,761,132,019.31 in Q1 2024[19]. - Net profit for Q1 2025 was CNY 68,090,361.25, a decline of 9.4% from CNY 75,474,696.36 in Q1 2024[20]. - Operating profit for Q1 2025 was CNY 77,982,007.55, compared to CNY 85,977,751.71 in Q1 2024, reflecting a decrease of 9.2%[20]. - The total comprehensive income for Q1 2025 was CNY 64,042,983.01, compared to CNY 67,474,654.77 in Q1 2024, showing a decrease of 5.4%[21]. - The company reported a basic earnings per share of CNY 0.19 for both Q1 2025 and Q1 2024, indicating stability in earnings per share[21]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 8,688,770,576.23, a decrease of 2.43% from CNY 8,904,781,941.06 at the end of the previous year[5]. - Total liabilities as of the reporting date were CNY 4,703,767,366.63, a decrease from CNY 4,983,821,714.47 in the previous period[16]. - Shareholders' equity attributable to the parent company increased by 1.78% to CNY 3,834,789,054.84 from CNY 3,767,736,426.88 at the end of the previous year[5]. - The total current assets decreased to CNY 4.63 billion from CNY 4.88 billion, a decline of about 5.1%[14]. - Non-current assets totaled approximately CNY 4.06 billion, a slight increase from CNY 4.02 billion[14]. Cash Flow - The cash flow from operating activities showed a net outflow of CNY 449,195,680.76, compared to an outflow of CNY 327,952,119.82 in the same period last year[4]. - In Q1 2025, the cash inflow from operating activities was approximately $2.15 billion, a decrease of 4.3% compared to $2.25 billion in Q1 2024[24]. - The net cash outflow from operating activities was approximately -$449.20 million in Q1 2025, worsening from -$327.95 million in Q1 2024[25]. - The cash inflow from financing activities was approximately $1.33 billion in Q1 2025, slightly up from $1.32 billion in Q1 2024[26]. - The net cash outflow from financing activities was $52.13 million in Q1 2025, a significant decrease from $202.68 million in Q1 2024[26]. - The ending cash and cash equivalents balance for Q1 2025 was approximately $1.63 billion, up from $1.26 billion in Q1 2024[26]. - The company received approximately $1.27 billion in borrowings in Q1 2025, compared to $1.24 billion in Q1 2024[25]. - The company paid approximately $1.27 billion in debt repayments in Q1 2025, compared to $1.10 billion in Q1 2024[25]. - The cash received from tax refunds was approximately $37.33 million in Q1 2025, slightly down from $37.85 million in Q1 2024[24]. - The company reported a total cash outflow from operating activities of approximately $2.60 billion in Q1 2025, compared to $2.57 billion in Q1 2024[25]. Shareholder Information - The largest shareholder, Zhejiang Huayi Intelligent Manufacturing Co., Ltd., holds 22.38% of the shares, while the second largest, Shaoxing Yuecheng Huahan Equity Investment Partnership, holds 9.71%[10]. - The combined control of the major shareholders amounts to 35.33% of the company's shares[11]. - The company has not reported any significant changes in the financing and securities lending activities of its top shareholders[12]. - The company repurchased 7,550,400 shares, accounting for 1.99% of the total share capital[12]. Operating Costs and Expenses - Total operating costs for Q1 2025 were CNY 1,674,161,798.20, slightly down from CNY 1,679,724,226.31 in Q1 2024[19]. - Research and development expenses for Q1 2025 were CNY 34,146,558.83, down from CNY 44,750,779.71 in Q1 2024, indicating a reduction of 23.7%[19]. - The company’s financial expenses increased to CNY 8,642,605.24 in Q1 2025 from CNY 6,174,497.52 in Q1 2024, reflecting a rise of 39.9%[20]. Inventory and Receivables - Accounts receivable decreased to CNY 1.04 billion from CNY 1.10 billion, reflecting a reduction of about 5.5%[14]. - Inventory increased slightly to CNY 909.22 million from CNY 896.69 million, indicating a growth of approximately 1.4%[14]. - The company reported a significant increase in prepayments by 68.21%, primarily due to prepayment for brand promotion expenses[7]. - Long-term borrowings increased by 110.36%, indicating a rise in financing activities during the period[7]. - Cash flow from financing activities decreased by 74.28%, mainly due to increased repayments[7].

关于召开 2024 年度暨 2025 年第一季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2025 年 5 月 21 日（星期三）上午 9:00-10:00 会议召开地点：上海证券交易所"上证路演中心"网络平台（网址： http://roadshow.sseinfo.com/） 证券代码：603008 证券简称：喜临门 公告编号：2024-021 喜临门家具股份有限公司 （一）会议召开时间：2025 年 5 月 21 日（星期三）上午 9:00-10:00 （二）会议召开地点：上海证券交易所"上证路演中心"网络平台 （网址：http://roadshow.sseinfo.com/） （三）会议召开方式：上证路演中心网络互动 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 5 月 14 日（星期三）至 5 月 20 日（星期二）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过本公告后附的联系 方式进行提问。公司将在说明会上对投资者普遍关注的问题 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Views - The company reported a revenue of 8.729 billion (up 0.59% year-on-year) and a net profit attributable to shareholders of 322 million (down 24.84% year-on-year) for the year 2024. The fourth quarter of 2024 saw a revenue of 2.753 billion (up 5.51% year-on-year), but the net profit was negative at -53 million, primarily due to a decline in gross margin and increased operating expenses [1][5][12]. Summary by Sections Retail Segment - The retail segment achieved a revenue of 5.530 billion (down 4.7% year-on-year) for 2024, with a notable growth of 10.2% in Q4. The offline retail business, which is the core of the company's operations, generated 3.010 billion (down 10.8% year-on-year) in 2024, while online retail revenue reached 1.980 billion (up 9.9% year-on-year) [2][4]. OEM & Overseas Segment - The OEM business generated 2.550 billion (up 9.2% year-on-year) in 2024, with international business contributing 1.850 billion (up 24.5%). The cross-border e-commerce segment reported a revenue of 290 million (down 11.6%) due to operational strategy adjustments [3][4]. Product Categories - The mattress category saw a revenue of 5.270 billion (up 5% year-on-year), while wooden furniture experienced significant growth with a revenue of 167 million (up 27%) [4]. Financial Metrics - The gross margin for 2024 was 33.67% (down 0.70 percentage points), with Q4 gross margin at 30.03% (down 4.68 percentage points). The operating expense ratio for 2024 was 28.94% (up 1.6 percentage points) [5][12]. Profit Forecast and Valuation - The company is expected to achieve revenues of 9.458 billion, 10.263 billion, and 11.151 billion for 2025, 2026, and 2027 respectively, with corresponding net profits of 519 million, 587 million, and 656 million [12][14].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company's core mattress business continues to grow, but the performance in 2024 is impacted by adjustments in distribution channels [4][5] - In 2024, the company achieved revenue and net profit of 8.73 billion and 320 million yuan respectively, with year-on-year changes of +0.6% and -24.8% [4] - The company plans to distribute a cash dividend of 5.2 yuan per 10 shares (including tax) for 2024 [4] Revenue Performance - The company's revenue from different product categories in 2024 includes mattresses (5.27 billion yuan, +5.1%), soft beds and accessories (2.44 billion yuan, -8.4%), sofas (720 million yuan, -6.6%), and wooden furniture (170 million yuan, +27.5%) [5] - Domestic and international revenue reached 6.47 billion and 2.13 billion yuan respectively, with year-on-year changes of -6.4% and +27.5% [5] - Revenue from distribution channels includes 3.21 billion from dealerships (-12.9%), 3.40 billion from bulk business (+10.1%), and 1.98 billion from online sales (+9.9%) [5] Profitability Analysis - The company's gross margin for 2024 is 33.7%, a decrease of 0.7 percentage points year-on-year [6] - The gross margins for different product categories are 38.4% for mattresses, 29.3% for soft beds and accessories, 18.8% for sofas, and 1.5% for wooden furniture [6] - The company’s operating expenses ratio for 2024 is 28.9%, an increase of 1.6 percentage points year-on-year, primarily due to increased brand promotion and online sales expenses [6] Market Outlook - The report indicates that the company is a leading player in the mattress industry and is expected to capture a larger market share in a supply-clearing environment [9] - Revenue forecasts for 2025 and 2026 have been adjusted downwards to 9.42 billion and 10.40 billion yuan, reflecting a decrease of 16% and 20% respectively [9] - The projected net profit for 2025 and 2026 is revised to 350 million and 370 million yuan, down by 35% and 39% respectively [9]

4月24日，中国床垫行业龙头企业喜临门（603008）（603008.SH）发布2024年年报，尽管面临复杂市 场环境，公司全年实现营业收入87.29亿元，在研发投入与技术转化上展现出强劲韧性。作为行业智能 化转型的领军者，喜临门全年在智能睡眠技术、环保材料研发、工业智能化改造等领域持续突破，尤其 在AI助眠技术的深度应用上构建起差异化竞争壁垒。年报显示，截至2024年末，喜临门有效专利总数 达1568项，功能智能产品线销售额突破亿元，标志着其科技赋能转型进入成果爆发期。 AI 技术引领睡眠革命 打造智能助眠产品矩阵 2024年，在"健康中国"战略与智能家居产业发展的双重推动下，喜临门将人工智能技术深度融入睡眠产 品研发，开创性地构建了完整的智能睡眠解决方案体系。基于其自主研发的"三阶段助眠理论"，成功升 级柔性气囊、智能睡眠监测系统等核心技术模块，实现床垫软硬度动态调节与睡眠环境智能适配的突破 性创新；空气弹簧、主动助眠等核心技术实现100%产业化转化。推出宝褓系列 AI 智能床垫及电动架产 品，包含 107 项专利技术，集成感应监测系统、气动支撑系统和决策控制系统，可提供四种睡感，全面 延伸到睡眠的三个阶 ...

证券代码：603008 证券简称：喜临门 公告编号：2025-018 喜临门家具股份有限公司 关于召开2024年年度股东大会的通知 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。 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024年年度股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 (四)现场会议召开的日期、时间和地点 召开的日期时间：2025 年 5 月 23 日 13 点 30 分 召开地点：浙江省绍兴市越城区三江路 13-1 号喜临门袍江工厂 B 楼四楼国 际会议室 股东大会召开日期：2025年5月23日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 (五)网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东大会网络投票系统 网络投票起止时间：自2025 年 5 月 23 日 至2025 年 5 月 23 日 本次股东大会审议议案及投票股东类型 | 序号 | | 议案名称 | 投票股 ...

证券代码：603008 证券简称：喜临门 公告编号：2025-007 喜临门家具股份有限公司 第六届监事会第六次会议决议的公告 本公司监事会及全体监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。 一、 监事会会议召开情况 喜临门家具股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日在公司 3 号会议室以现场方式召开第六届监事会第六次会议。本次会议通知已于 2025 年 4 月 13 日通过电子邮件、传真、电话方式送达全体监事。 本次会议由监事会主席陈岳诚先生召集和主持，会议应参加监事 3 名，实际 参加会议监事 3 名。本次会议通过书面记名投票的方式进行表决，会议的召集、 召开和表决程序符合《公司法》和《公司章程》的规定，会议合法有效。 二、 监事会会议审议情况 1. 审议通过《2024 年度监事会工作报告》 表决结果：同意：3 票；反对：0 票；弃权：0 票。 本议案尚需提请公司股东大会审议通过。 2. 审议通过《2024 年年度报告及摘要》 监事会认为： （1）公司 2024 年年度报告编制和审议程序符合法律、法规、公司章程和 ...

证券代码：603008 证券简称：喜临门 公告编号：2025-006 喜临门家具股份有限公司 第六届董事会第六次会议决议的公告 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。 一、 董事会会议召开情况 喜临门家具股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日在公司 国际会议室以现场结合通讯方式召开第六届董事会第六次会议。本次会议通知 已于 2025 年 4 月 13 日通过电子邮件、传真、电话方式送达全体董事。 本次会议由董事长陈阿裕先生召集和主持，会议应参加董事 9 名，实际参 加会议董事 9 名。本次会议通过书面记名投票的方式进行表决，会议的召集、 召开和表决程序符合《公司法》和《公司章程》的规定，会议合法有效。 二、 董事会会议审议情况 1. 审议通过《2024 年度董事会工作报告》 表决结果：同意：9 票；反对：0 票；弃权：0 票。 本议案尚需提请公司股东大会审议通过。 2. 审议通过《2024 年度总裁工作报告》 表决结果：同意：9 票；反对：0 票；弃权：0 票。 3. 审议通过《2024 年 ...

证券代码：603008 证券简称：喜临门 公告编号：2025-009 喜临门家具股份有限公司 关于 2024 年度利润分配预案的公告 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。 重要内容提示： 每股分配比例：每 10 股派发现金红利人民币 5.20 元（含税）。 本次利润分配以实施权益分派股权登记日登记的总股本扣除公司回购专 用账户的股份余额为基数，具体日期将在权益分派实施公告中明确。在实施权益 分派的股权登记日前公司参与权益分派的总股本发生变动，拟维持每股分配比例 不变，相应调整分配总额。 公司未触及《上海证券交易所股票上市规则》（以下简称"《股票上市 规则》"）第 9.8.1 条第一款第（八）项规定的可能被实施其他风险警示的情形。 本次利润分配预案尚需提交公司股东大会审议。 一、 利润分配方案内容 （一）利润分配方案的具体内容 经天健会计师事务所(特殊普通合伙)审计，公司 2024 年度实现归属于上市 公司股东净利润为人民币 322,361,431.22 元。截至 2024 年 12 月 31 日，公司母 公司报表中期 ...

证券代码：603008 证券简称：喜临门 公告编号：2025-016 喜临门家具股份有限公司 关于 2021 年股票期权激励计划第三个行权期行权条件未成就 及注销全部股票期权的公告 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。 喜临门家具股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开了 第六届董事会第六次会议、第六届监事会第六次会议，审议并通过《关于 2021 年股票期权激励计划第三个行权期行权条件未成就及注销全部股票期权的议 案》。现将有关情况公告如下： 一、公司 2021 年股票期权激励计划已履行的审议程序 1.2021 年 12 月 9 日，公司召开第五届董事会第五次会议、第五届监事会第 四次会议，审议并通过《关于<喜临门家具股份有限公司 2021 年股票期权激励计 划（草案）>及其摘要的议案》《关于<喜临门家具股份有限公司 2021 年股票期 权激励计划实施考核管理办法>的议案》《关于提请股东大会授权董事会办理公 司股权激励计划相关事项的议案》等议案。公司独立董事对第五届董事会第五次 会议审议 ...