志邦家居: 关于接待机构调研情况的公告

Core Viewpoint - The company reported a decline in revenue and profit for the first half of 2025, attributed to pressures in the custom home furnishing industry and a challenging real estate market [1][2]. Group 1: Company Performance - In the first half of 2025, the company achieved revenue of 1.899 billion yuan, a year-on-year decrease of 14.14%, and a net profit of 138 million yuan, down 7.21% from the previous year [1][2]. - The company's gross margin was 35.97%, showing a slight decline of 0.72 percentage points, while the net margin improved to 7.27%, an increase of 0.55 percentage points, indicating some recovery in profitability [1][3]. Group 2: Market Challenges and Strategies - The decline in performance was primarily due to the overall pressure on the custom home furnishing industry, influenced by deep regulation in the domestic real estate sector and low consumer sentiment, leading to a temporary decrease in end-demand [2][3]. - The company is accelerating its integrated home strategy and actively following national consumption subsidy policies, with retail business revenue (including direct and distribution channels) at 1.292 billion yuan, down 3.64% year-on-year [2][3]. Group 3: International Business Growth - The company's overseas business achieved revenue of 148 million yuan in the first half of 2025, reflecting a significant year-on-year growth of 70.69%, indicating successful implementation of its international expansion strategy [2][4]. - As of June 30, 2025, the company’s overseas business covered 41 countries with 36 distribution stores, and it plans to deepen its presence in key markets like Australia and North America while exploring emerging markets in Southeast Asia and the Middle East [4]. Group 4: Future Outlook and Adjustments - The company is adjusting its strategy for bulk business in response to the real estate market and macroeconomic conditions, focusing on high-end products for premium real estate and exploring growth opportunities in affordable housing and office furnishings [3][4]. - The company aims to enhance its operational capabilities by addressing customer acquisition, conversion, and delivery challenges through a multi-faceted approach, including digital empowerment and market collaboration [4].