Core Viewpoint - The home furnishing industry continues to face deep adjustments and transformation pressures, with many leading companies experiencing declines in both revenue and net profit [1][3]. Group 1: Revenue Performance - The top five companies by revenue for 2024 are: Oppein Home (¥18.925 billion), Kuka Home (¥18.480 billion), Henglin Home (¥11.029 billion), Sofia (¥10.494 billion), and Xilinmen (¥8.729 billion) [1]. - Among the top five companies, only Henglin Home (34.59% growth) and Xilinmen (0.59% growth) achieved revenue growth, while Oppein Home (-16.93%), Sofia (-10.04%), and Kuka Home (-3.81%) saw declines [3]. - In a broader analysis of 64 listed home furnishing companies, 39 companies (approximately 60%) reported revenue growth year-on-year [2]. Group 2: Profit Performance - Only Sofia reported a year-on-year increase in net profit among the top five companies, achieving ¥1.371 billion (8.69% growth), while Oppein Home's net profit fell by 14.38% to ¥2.599 billion, and Kuka Home's net profit decreased by 29.38% to ¥1.417 billion [3]. - Overall, 23 out of 64 listed companies (less than 40%) reported a year-on-year increase in net profit [2]. Group 3: Industry Challenges - The home furnishing industry is facing significant challenges due to a reduction in bulk transactions and engineering procurement, as the real estate industry's boom period has ended, prompting companies to focus more on the C-end retail market [1]. - The common challenges highlighted by multiple companies include the weak demand stemming from the adjustment in the real estate market [4]. Group 4: Strategic Shifts - In response to industry adjustments, some leading companies are accelerating their transition to a "big home" model, integrating product categories, optimizing channels, and enhancing services to create new growth drivers [7]. - Oppein Home has expanded its retail "big home" stores to over 1,100, increasing by more than 450 stores since the beginning of the year, and its overseas revenue grew by 34.42% to ¥430 million [7]. - Sofia is also transitioning towards a "big home" strategy, expanding its product offerings across various categories [8]. Group 5: International Expansion - Henglin Home is pursuing growth through "manufacturing overseas + brand overseas" strategies, with overseas revenue reaching ¥9.887 billion, accounting for nearly 90% of total revenue [9]. - The company has seen a 196.47% increase in online sales to ¥4.325 billion, driven by its cross-border e-commerce initiatives [9].
净利增长企业占比不足四成 去年上市家居公司整体承压
Huan Qiu Wang·2025-05-12 03:31