证券代码：603816 证券简称：顾家家居 公告编号：2026-007 顾家家居股份有限公司 关于持股 5%以上股东部分股份被司法拍卖 的结果公告 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。 经公司查询杭州市中级人民法院淘宝网司法拍卖网络平台发布的《网络竞价 成功确认书》，本次拍卖竞价结果详情如下： 重要内容提示: 截至本公告披露日，TB Home Limited（以下简称"TB Home"）持有顾家 家居股份有限公司（以下简称"公司"或"本公司"）41,176,766 股股票，占 本公司总股本的 5.01%。杭州德烨嘉俊企业管理有限公司（由顾家集团有限公司 变更名称而来，以下简称"德烨嘉俊"）持有本公司 88,471,483 股股票，占本公 司总股本的 10.77%，TB Home 及德烨嘉俊累计持有本公司 129,648,249 股股票， 占本公司总股本的 15.78%。上述股份目前均处于冻结状态。 TB Home 本次被司法拍卖的股票数量为 14,508,700 股,占其所持有本公 司股数的 35.24%，占本公司总 ...

[Table_Page] 投资策略月报|纺织服饰 证券研究报告 [Table_Title] 纺织服饰行业 纺织服装与轻工行业数据月报 2.1-2.27 [Table_Summary] 核心观点： [Table_Gr ade] 行业评级 买入 前次评级 买入 报告日期 2026-03-02 [Table_Author] 分析师： 糜韩杰 SAC 执证号：S0260516020001 SFC CE No. BPH764 021-38003650 mihanjie@gf.com.cn 分析师： 曹倩雯 SAC 执证号：S0260520110002 SFC CE No. BWW545 021-38003621 caoqianwen@gf.com.cn 分析师： 左琴琴 SAC 执证号：S0260521050001 SFC CE No. BSE791 021-38003540 zuoqinqin@gf.com.cn 分析师： 李悦瑜 SAC 执证号：S0260524120002 021-38003784 liyueyu@gf.com.cn 分析师： 董建芳 SAC 执证号：S0260525060002 dongjian ...

2026 年 03 月 01 日 策略周报 研究所： 证券分析师： 赵阳 S0350525100003 zhaoy05@ghzq.com.cn [Table_Title] 近期涨价链行情观点及 3-4 月布局思路 最近一年走势 相关报告 《流动性周报 2 月第 3 期：社融同比增速放缓，权 益基金发行回暖*赵阳》——2026-02-24 《年报预报落地后，市场如何演绎？*赵阳》—— 2026-02-01 《流动性周报 1 月第 3 期：宏观资金均衡偏松，ETF 继续大幅净流出*赵阳》——2026-01-28 本篇报告解决了以下核心问题：1、怎么看待近期涨价链行情；2、即将 到来的三月该配置什么风格和主题。 | 2、 | 三月中旬开始可能要关注风格切换 6 | | --- | --- | | 3、 | 三月的三个配置思路 8 | | 4、 | 风险提示 14 | 核心要点: 国海证券研究所 请务必阅读正文后免责条款部分 《流动性周报 2 月第 2 期：宽基流出明显收窄*赵 阳》——2026-02-10 《流动性周报 2 月第 1 期：宽基 ETF 继续大幅流 出*赵阳》——2026-02-02 2 月份涨价是 ...

行 30986 轻工制造 2026 年 03 月 01 日 业 研 究 关轻注 工制造 纸企发布 3 月涨价函，上海购房政策优化 投资要点： 行 业 定 期 报 告 【周观点】①文化纸企发布 3 月涨价函、涨幅 200 元/吨，玖龙多基地宣布 箱板瓦楞纸提价 50 元/吨，浆价回升叠加招标旺季背景下，预计木浆系纸 价有支撑，看好纸企 Q1 盈利环比改善，持续推荐太阳纸业，关注玖龙纸 业、博汇纸业。②上海进一步优化购房政策，带动家居估值修复，关注后 续楼市小阳春销售情况。③家得宝、劳氏 26 年展望同店持平至+2%低于市 场预期，反映对当前美国疲软的住房市场和高利率环境的谨慎态度。 强于大市（维持评级） 一年内行业相对大盘走势 团队成员 | 分析师： | 李宏鹏(S0210524050017) | | --- | --- | | lhp30568@hfzq.com.cn | | | 分析师： | 汪浚哲(S0210524050024) | | wjz30579@hfzq.com.cn | | | 分析师： | 李含稚(S0210524060005) | | lhz30597@hfzq.com.cn | | 相关 ...

来源：市场资讯 （来源：定制观察） 近日，智能空间设计软件提供商群核科技（Manycore Tech Inc.）正式向香港交易所递交主板上市申请，摩根大通与建银国际担任联席保荐人。最新数据 显示，该公司2025年营收达8.2亿元，毛利率升至82.2%，经调整净利润5710万元，成功扭亏为盈，迎来业绩拐点。若上市成功，群核科技有望成为杭 州"六小龙"企业中首家登陆港股的公司，更是会成为"全球空间智能第一股"。 | | | | 截至12月31日止年度 | | | | | --- | --- | --- | --- | --- | --- | --- | | | 2023年 | | 2024年 | | 2025年 | | | | 人民幣 | રે | 人民幣 | 5 | 人民幣 | % | | | | | (人民幣十元,自分比除外) | | | | | 收入 | 663.540 | 100.0 | 754.830 | 100.0 | 819,994 | 100.0 | | 營業成本 | (154,233) | (23.2) | (144,068) | (19.1) | (145,706) | (17.8) | | ...

Investment Rating - The report maintains a "Positive" outlook on the paper and light industry sectors, highlighting potential improvements in domestic demand and the impact of tariff policy changes [1][2]. Core Insights - The report emphasizes the expected marginal improvement in domestic demand, driven by real estate policy stabilization and consumer confidence recovery [2][10]. - The AI glasses market is anticipated to see significant growth, with Meta's sales surging and Apple's upcoming product launch expected to enhance market penetration [2][12]. - The paper industry is experiencing price stability and potential profitability improvements due to strong overseas production control and rising prices [2][14]. Summary by Sections Export Sector - Changes in tariff policies are expected to boost export performance, with recommendations for companies like 嘉益股份, 匠心家居, and 永艺股份 due to their strong performance certainty [2][4]. - The U.S. Supreme Court's ruling against additional tariffs and the introduction of a 10% global tariff are pivotal developments [4][10]. Home Furnishing Sector - The home furnishing industry is at a valuation bottom, with real estate policies likely to catalyze upward valuation adjustments [2][10]. - The sector is witnessing accelerated consolidation, with mid-tier companies exiting and capital entering leading firms, enhancing industry concentration [2][11]. - Companies like 顾家家居, 索菲亚, and 欧派家居 are highlighted for their potential valuation recovery [2][11]. AI Glasses Sector - Meta's smart glasses sales have seen explosive growth, with a reported increase of nearly threefold, while Apple's anticipated entry is expected to further drive market penetration [2][11]. - The report suggests focusing on companies like 康耐特光学 and 明月镜片, which are well-positioned in this emerging market [2][12]. Paper Industry - The report notes that overseas pulp mills are showing strong production control intentions, leading to price increases [2][14]. - Companies like 太阳纸业 and 玖龙纸业 are recommended due to their integrated operations and cost advantages [2][14]. Domestic Demand - There is an expectation of marginal improvement in domestic demand, with companies like 百亚股份 and 公牛集团 identified as potential beneficiaries [2][17]. - The report highlights the importance of consumer confidence and spending power recovery in driving demand [2][17].

群核科技向港交所主板递交上市申请，摩根大通和建银国际担任联席保荐人。 最新数据显示，2025年，公司实现营收8.2亿元，毛利率攀升至82.2%，经调整净利润达5710万元，成功扭亏为盈，迎来业绩拐点。 值得注意的是，公司的净亏损（按会计准则）在2023年、2024年及2025年分别为6.46亿元、5.13亿元和4.28亿元，经调整净利润5710万元。 群核科技已于2026年2月14日获得中国证监会备案，意味着拿到了赴香港上市的通行证。公司已向港交所递交上市申请，联席保荐人为摩根大通和建银国 际。若成功上市，它有望成为"杭州六小龙"中首家上市公司。 按2024年收入计，群核科技是中国领先的空间设计软件提供商，市场份额达23.2%，其业务已扩展至韩国、东南亚、美国及印度等国际市场。服务对象涵 盖整个空间设计价值链，包括设计师、室内设计公司、家具制造商、房地产开发商及建筑材料提供商。 公司拥有核心云原生平台"酷家乐"、面向国际市场的本地化解决方案"Coohom"，以及提供3D合成数据集的专业服务"SpatialVerse"。采用云原生架构和AI 驱动技术，支持快速拖放式3D设计、即时渲染及BIM能力，并能将设计直接 ...

| 指数 涨跌 (%) | | --- | | 名称 | | 上证指数 4082 -1.26 -1.37 0.41 | | 深证综指 2680 -1.05 0.16 1.16 | | 风格指数 (%) | | | --- | --- | | 大盘指数 | 11.32 | | 中盘指数 1.78 | 26.74 | | 小盘指数 | 19.55 | | 涨幅居前 行业(%) | 昨日 | 近１个月 近６个月 | | | --- | --- | --- | --- | | 摩托车及其 114 | 3.01 | -2.59 | 2.47 | | 影视院线 | 2.7 | 15.61 | 28.26 | | 海小 | 2.5 | 1.64 | 11.89 | | 综合II | 2.06 | 11.75 | 55.72 | | 航海装备Ⅱ | 1.87 | 3.91 | -0.69 | | 跌幅居卸 行业(%) | | 昨日 近１个月 近６个月 | | | 玻璃玻纤 | -4.69 | 30.4 | 65.53 | | 工业金属 | -3.82 | 0.19 | ୧୦ ବଟ | | 小尖属工 | -3.8 | 12.8 ...

Summary of Conference Call Records Industry Overview - **Industry**: Pulp and Paper, Real Estate, Metal Cans, New Consumption, Tobacco, Personal Care, AI Applications, Pet Industry - **Key Trends**: Positive cyclical expectations, price increases in pulp, recovery in real estate transactions, and growth in various consumer sectors Key Points Pulp and Paper Industry - **Price Increases**: March pulp prices continue to rise strongly, with Suzano reporting an increase of $20 per ton in China [1] - **Supply Chain Issues**: Indonesia's revocation of forestry licenses affects the supply of hardwood pulp chips, compounded by APP's announcement of delays in the second phase of OKI production [1] - **Investment Recommendations**: Continued recommendations for companies such as Sun Paper, Nine Dragons, and Xianhe, with a focus on potential growth in the sector [1] Real Estate Sector - **Market Recovery**: Improvement in second-hand housing transactions, with the National Bureau of Statistics reporting a narrowing decline in housing prices across 70 cities [1] - **Top Picks**: Recommended companies include Kuka, Hanhai, with expectations for recovery in brands like Gongniu, Oppein, and others [1] Metal Can Industry - **Aluminum Price Adjustment**: Recent pullback in aluminum prices is beneficial for profit release, with a bottom recommendation for Aorikin and attention on Baosteel and Shengxing [1] New Consumption Sector - **Core Products**: Many core products have entered the layout phase, with various brands launching new items and maintaining high store traffic during the Spring Festival [2] - **Tobacco Market**: British American Tobacco reports rapid market share growth in Poland, with a recommendation for Smoore as a core stock [2] - **Personal Care Growth**: Brands like Leshushi and Baia are experiencing significant growth, with new product launches and marketing strategies enhancing their market positions [2] AI Applications - **Smart Glasses Sales**: Kangnait's smart glasses are projected to exceed 7 million units in sales for the year, with ongoing attention to order progress [2] - **Acquisition Plans**: Yudong plans to acquire 51% of Huayan Technology, extending its reach into precision components and AI glasses [2] Pet Industry - **Market Recovery**: The pet industry saw a recovery in January with an overall growth of 18%, with specific brands like Guibao and Zhongchong showing significant increases [3] Cross-Border Trade - **Tariff Changes**: Recent tariff adjustments are favorable, with a 5% reduction in the overall tax rate benefiting cross-border enterprises, particularly focusing on companies like Zhiou and Henglin [3]

Core Viewpoint - The company has recently faced a shareholder equity freeze while its nearly 2 billion yuan private placement plan has been approved, and its performance in the first three quarters remains strong [1] Group 1: Stock Performance - On February 3, 2026, the company announced that approximately 15.43 million shares held by major shareholder TB Home Limited, accounting for 1.88% of the total share capital, were subject to judicial freeze due to pending legal matters [2] - Another shareholder, Hangzhou Deyejiajun Enterprise Management Co., Ltd., also had all its shares frozen, but these shareholders are not controlling shareholders, and the incident does not affect the company's control or daily operations [2] Group 2: Private Placement - In early December 2025, the company's nearly 2 billion yuan private placement application was approved by the Shanghai Stock Exchange and has entered the "registration submission" phase, with the controlling shareholder, Yingfeng Group, fully subscribing [3] - Upon completion, Yingfeng Group's shareholding will increase from 29.42% to 37.37%, further consolidating its control [3] - The funds raised will be used for projects related to production line automation, marking the first large-scale capital action since Yingfeng Group took over [3] Group 3: Performance and Operations - In the first three quarters of 2025, the company reported revenue of 15.012 billion yuan and a net profit attributable to shareholders of 1.539 billion yuan, representing year-on-year growth of 8.77% and 13.24%, respectively [4] - During the Q3 2025 earnings call, management emphasized a focus on functional and intelligent innovation, as well as advancing the transformation of domestic retail and the globalization of foreign trade strategies [4] - The company expects positive growth in revenue and profit for 2026 [4]