Core Viewpoint - Zhengzhong Design's stock price has shown significant growth this year, with a year-to-date increase of 91.10%, indicating strong market performance and investor interest [1][2]. Group 1: Stock Performance - As of November 27, Zhengzhong Design's stock price reached 15.54 CNY per share, with a trading volume of 1.17 billion CNY and a market capitalization of 4.786 billion CNY [1]. - The stock has experienced a 17.02% increase over the last five trading days, a 22.85% increase over the last 20 days, and a 35.64% increase over the last 60 days [1]. - The company has appeared on the trading leaderboard 10 times this year, with the most recent appearance on November 25 [1]. Group 2: Financial Performance - For the period from January to September 2025, Zhengzhong Design reported a revenue of 989 million CNY, reflecting a year-on-year growth of 19.89%, and a net profit attributable to shareholders of 135 million CNY, which is a 42.62% increase year-on-year [2]. - The company's main business revenue composition includes design services (67.00%), soft decoration services (22.49%), decoration engineering (8.88%), and other services (1.64%) [1][2]. Group 3: Shareholder Information - As of September 30, 2025, the number of shareholders for Zhengzhong Design was 19,800, a decrease of 20.18% from the previous period, while the average circulating shares per person increased by 25.29% to 14,267 shares [2]. - The company has distributed a total of 647 million CNY in dividends since its A-share listing, with 241 million CNY distributed over the last three years [3]. - Among the top ten circulating shareholders, a new shareholder,招商量化精选股票发起式A, holds 1.65 million shares, ranking as the seventh largest shareholder [3].

Core Viewpoint - Zhengzhong Design announced that its stock price experienced an abnormal fluctuation, with a cumulative increase of 21.76% over three consecutive trading days, indicating significant market activity [1]. Summary by Relevant Sections - **Stock Price Movement** - The company's stock price closed with a cumulative increase of 21.76% over the trading days of November 21, November 24, and November 25, 2025, which is classified as an abnormal fluctuation in trading [1]. - **Company Disclosure** - Following an internal review, the company confirmed that there are no corrections or supplements needed for previously disclosed information, and no undisclosed significant information has been found that could impact the stock price [1].

Core Viewpoint - Zhengzhong Design's stock price has experienced an abnormal fluctuation, with a cumulative increase of 21.76% over three trading days, prompting an inquiry into the reasons behind this movement [1] Summary by Relevant Sections - **Stock Price Movement** - The stock price of Zhengzhong Design has shown a cumulative increase of 21.76% over the trading days of November 21, 24, and 25, 2025, indicating significant volatility [1] - **Company Response** - The company conducted an internal review regarding the stock price fluctuations and confirmed that there are no corrections or supplements needed for previously disclosed information [1] - It was reported that there have been no significant changes in the company's operational status or external environment [1] - **Insider Trading and Disclosure** - During the period of abnormal stock price movement, the controlling shareholder and actual controller did not engage in buying or selling the company's stock [1] - The company affirmed that there are no undisclosed significant matters that should have been disclosed, nor are there any major matters in the planning stage [1]

证券代码：002811 证券简称：郑中设计 公告编号：2025-076 关于股票交易异常波动的公告 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。 一、股票交易异常波动的说明 深圳市郑中设计股份有限公司（以下简称"公司"或"本公司"）（证券简 称：郑中设计，证券代码：002811）股票交易价格连续 3 个交易日内（2025 年 11 月 21 日、2025 年 11 月 24 日、2025 年 11 月 25 日）收盘价格涨幅偏离值累 计达到 21.76%。根据《深圳证券交易所交易规则》的相关规定，属于股票交易 异常波动情况。 二、对重要问题的关注、核实情况说明 针对公司股票异常波动，公司对有关事项进行了核查，并问询了公司控股股 东及实际控制人，现就有关情况说明如下： 1、公司前期所披露的信息，不存在需要更正、补充之处； 2、公司未发现近期公共媒体报道了可能或已经对本公司股票交易价格产生 较大影响的未公开重大信息； 3、公司近期经营情况正常及内外部经营环境未发生重大变化； 4、经核查，公司、控股股东、实际控制人不存在关于本公司的应披露而未 披露的重大事项，也不 ...

Market Performance - The decoration and renovation sector increased by 1.27% compared to the previous trading day, with Meizhi Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3870.02, up 0.87%, while the Shenzhen Component Index closed at 12777.31, up 1.53% [1] Key Stocks in the Sector - Meizhi Co., Ltd. (002856) closed at 12.88, with a rise of 9.99% and a trading volume of 97,200 shares, totaling a transaction value of 123 million yuan [1] - Zhengzhong Design (002811) closed at 16.01, up 7.31%, with a trading volume of 592,300 shares and a transaction value of 2.616 million yuan [1] - Other notable stocks include *ST Jianyi (002789) with a 5.00% increase, *ST Zhongzhuang (002822) with a 4.98% increase, and Zhongtian Jingzhuang (002989) with a 4.19% increase [1] Capital Flow Analysis - The decoration and renovation sector experienced a net outflow of 8.5444 million yuan from institutional investors, while retail investors saw a net outflow of 3.6943 million yuan [2] - Conversely, speculative funds recorded a net inflow of 12.2387 million yuan [2] Individual Stock Capital Flow - Zhengzhong Design (002811) had a net inflow of 11.2 million yuan from institutional investors, but a net outflow of 58.6391 million yuan from speculative funds [3] - Meizhi Co., Ltd. (002856) saw a net inflow of 21.6486 million yuan from institutional investors, with a net outflow of 9.0472 million yuan from speculative funds [3] - Hainan Development (002163) had a net inflow of 59.3333 million yuan from institutional investors, while also experiencing a net outflow from retail investors [3]

Core Insights - Zhengzhong Design (SZ002811) reached its daily limit up on November 25, 2025, with a price of 16.41 yuan, marking a 9.99% increase and a total market capitalization of 5.054 billion yuan [1] Financial Performance - The company's Q3 2025 report indicated a revenue increase of 19.89% year-on-year, with net profit rising by 42.62% and non-recurring net profit growing by 59.23%. Operating cash flow also saw a year-on-year increase of 17.24%, reflecting strong earnings quality [1] International Expansion - Zhengzhong Design is actively pursuing international expansion by establishing subsidiaries in Singapore, Japan, and London, and has signed multiple international hotel projects. This international strategy is expected to provide new business growth opportunities and development space [1] Order Backlog - The company has an accumulated uncompleted order value of 3.756 billion yuan, which is approximately 2.8 times its 2024 revenue, indicating a strong order reserve that suggests future performance stability [1] Market Dynamics - On the same day, the construction decoration sector saw some stocks become active, creating a certain level of sectoral linkage effect. Additionally, technical indicators showed that if the stock breaks through significant resistance levels, and with net inflow of main funds, this could further support the stock price increase [1]

Core Viewpoint - Zhengzhong Design announced on November 21 that it will disclose the number of shareholders at specific points in time in its regular reports to ensure fairness in information dissemination to investors [2] Group 1 - The company will not disclose the number of shareholders at times other than those specified in its regular reports [2]

Growth Points - The company aims to enhance its core business, focusing on design brand development, with projected design revenue of 721 million CNY in 2024, accounting for 60.71% of total revenue, and 424 million CNY in the first half of 2025, increasing to 67.00% of total revenue [1][2] - The soft decoration business is expected to generate 261 million CNY in 2024, showing a year-on-year growth of 16.23%, and 142 million CNY in the first half of 2025, with a significant growth of 43.75% [2] - The company plans to target the high-end private art center market, focusing on personalized services for luxury residential projects, with existing cases in Shanghai and Guangzhou [2] Strategic Development - The company will continue to strengthen design brand building, expand design scale, and enhance market coverage [3] - There will be an emphasis on market expansion to attract diverse clients across various industries, including new energy, technology, finance, and consumer sectors [2][3] - The company intends to enhance research and technology application to improve management efficiency through digitalization [3] Future Plans - The company is committed to developing overseas markets and expanding its international presence [3] - There are no current transformation plans disclosed, but any future plans will be announced in accordance with regulations [4] - Shareholder information will be disclosed in regular reports, ensuring fair access to information for investors [4]

Core Insights - The decoration and renovation sector experienced a decline of 1.62% on November 20, with *ST Dongyi leading the drop [1][2] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Market Performance - The following companies showed notable performance in the decoration and renovation sector: - Zhengzhong Design (002811) closed at 13.28, up 3.75% with a trading volume of 216,100 shares and a transaction value of 292 million [1] - Kexin Development (600234) closed at 12.01, up 2.13% with a trading volume of 29,800 shares and a transaction value of 35.52 million [1] - *ST Dongyi (002713) closed at 17.61, down 5.02% with a trading volume of 129,200 shares and a transaction value of 234 million [2] Capital Flow - The decoration and renovation sector saw a net outflow of 248 million from main funds, while retail investors contributed a net inflow of 203 million [2][3] - The following companies had significant capital flow: - Zhengzhong Design (002811) had a main fund net inflow of 15.14 million, but a retail net outflow of 19.36 million [3] - Kexin Development (600234) experienced a main fund net outflow of 0.14 million, while retail investors contributed a net inflow of 0.16 million [3]

Core Viewpoint - The controlling shareholder of Zhengzhong Design, Shenzhen Yatai Yizhao Investment Co., Ltd., has completed a share reduction plan, selling a total of 8,993,806 shares, which represents 2.92% of the company's total share capital and 3.00% of the adjusted total share capital after excluding repurchased shares [1][2][4]. Summary by Sections Share Reduction Announcement - On September 26, 2025, the company disclosed a pre-announcement regarding the reduction of shares by its controlling shareholder, Yatai Yizhao, who held 141,961,723 shares, accounting for 47.33% of the adjusted total share capital [1]. - The planned reduction was set to occur within three months following the pre-announcement, with a maximum of 8,997,606 shares to be sold through centralized bidding and block trading [1]. Share Reduction Details - From November 3 to November 18, 2025, Yatai Yizhao executed the reduction, selling a total of 8,993,806 shares at a price range of 11.45 to 13.04 yuan per share [2][3]. - The weighted average price during this period was 12.74 yuan, resulting in a total reduction amount of approximately 115 million yuan [3]. Post-Reduction Shareholding - After the completion of the share reduction, Yatai Yizhao and its concerted parties held a total of 165,732,417 shares, representing 53.81% of the company's total share capital and 55.26% of the adjusted total share capital [4].