Core Insights - The article highlights the increasing pressure faced by leading companies in the real estate supply chain, particularly Arrow, as they adapt to market changes and consumer behavior [1][3]. Group 1: Market Performance - In the first eleven months of 2025, the cumulative sales of large-scale building materials and home furnishing markets in China reached 13,231.85 billion, a year-on-year decline of 3.24% [3]. - The sales in November 2025 were 1,296.31 billion, reflecting a month-on-month decrease of 12.85% and a year-on-year decrease of 5.75% [3]. - The decline in effective demand is attributed to the low disposable income of households, which accounts for only 43% of GDP, significantly below the global average of 60% [3]. Group 2: Brand and Channel Strategy - Arrow has become a "safe choice" for consumers and distributors due to its long-term brand recognition and effective channel strategies, despite an overall revenue decline [4]. - In the first three quarters of 2025, Arrow's net profit attributable to shareholders increased by 1.74%, while retail channels showed resilience with a 4.54% year-on-year revenue growth [4]. - Arrow's focus on enhancing "store efficiency" has led to over 20,000 terminal stores nationwide, emphasizing quality over quantity in the new market cycle [4][5]. Group 3: Product Development - Arrow's smart toilet revenue grew by 4.2% year-on-year in the first half of 2025, with R&D expenditure increasing from 3.44% in 2021 to 5.45% in the first three quarters of 2025 [7]. - A consumer rights protection report indicated that Arrow's smart toilet model performed well in key metrics, reinforcing its commitment to "healthy bathroom" solutions [9]. - Arrow has partnered with Hongmeng to enhance its product offerings, moving towards a more interconnected smart home ecosystem [11][12]. Group 4: Service Innovation - Arrow's "Renewal 4.0" service strategy targets the substantial home renovation market, providing comprehensive services from product removal to installation [13]. - The company has established over 1,500 service providers nationwide, achieving 100% city coverage, and has implemented a certification system for service personnel to ensure standardized service quality [13]. - Arrow's role as the sole supplier of bathroom systems for the new Guangzhou Baiyun Airport T3 terminal showcases its engineering and scenario-based capabilities [15].
箭牌2025：品牌向上，渠道向下，压力之年的主动进击