Jason Furniture (Hangzhou) (SH:603816) 新浪财经·2025-12-30 10:28Core Viewpoint - The article highlights the significant sales performance of Gujia Home during a live-streaming event hosted by influencer Dong Yuhui, raising questions about the production and pricing of the products sold [2][3]. Sales Performance - Dong Yuhui's live-streaming event generated a total sales revenue of 356 million yuan in 5.5 hours, with a single leather sofa from Gujia Home exceeding 100 million yuan in sales [2]. - The average daily sales for Gujia Home in the first half of 2025 were approximately 15.53 million yuan, making the one-day sales from the live stream equivalent to eight days of regular sales [7]. Production and Quality Assurance - Gujia Home confirmed that all sofas sold during the live stream were self-manufactured, with the company accelerating production to meet demand [6]. - The company stated that outsourcing is only used to alleviate capacity pressure for non-core products, while core products like sofas and custom furniture are designed and produced in-house [6]. Financial Performance - For the first three quarters of the year, Gujia Home reported total revenue of 15.012 billion yuan, a year-on-year increase of 8.77%, and a net profit of 1.539 billion yuan, up 13.24% [8]. - The company’s sofa revenue reached 5.667 billion yuan in the first half of 2025, accounting for 57.82% of total revenue, with a year-on-year increase of 7.25 billion yuan [6][8]. Shareholding Changes - In January 2024, Yingfeng Group became the controlling shareholder of Gujia Home, marking a significant change in ownership [8]. - A nearly 2 billion yuan private placement plan was approved in November 2025, aimed at strengthening core product lines and investments in smart technology [8].