Core Viewpoint - The recent suicides of key figures in the home furnishing industry, including Wang Linpeng of Juran Zhijia and Zeng Yuzhou of Liangjiajia, have raised concerns about a broader crisis within the sector, exacerbated by financial difficulties and operational pressures faced by companies [1][3][10]. Company Summary - Wang Linpeng, the chairman and CEO of Juran Zhijia, was reported to have committed suicide shortly after being released from detention, which had been linked to a previous investigation regarding the company's listing operations [4][10]. - Juran Zhijia's stock price fell by 10.1% following the news of Wang's death, resulting in a market value loss of approximately 1.37 billion yuan [1]. - The company has experienced a continuous decline in net profit from 2021 to 2024, with figures dropping from 2.378 billion yuan to an estimated 835 million yuan, indicating a significant reduction in profitability [14]. - Juran Zhijia's revenue for 2024 is projected to be 12.966 billion yuan, a year-on-year decrease of 4.04% [16]. Industry Summary - The home furnishing industry is facing a significant downturn, with nearly 90 companies related to decoration filing for bankruptcy in the first half of the year, a 70% increase compared to the previous year [11]. - Major players in the industry, including Juran Zhijia, Meikailong, and Fusenmei, have all reported declining profits since 2021, with Meikailong experiencing substantial losses projected to reach 2.216 billion yuan in 2024 [16]. - The overall market for ceramic tiles is also declining, with production expected to fall by 12.08% in 2024 compared to 2023, leading to increased inventory pressures for major ceramic manufacturers [19][20]. - The industry is undergoing a severe liquidity crisis, with Juran Zhijia's short-term debt reaching 4.7 billion yuan, significantly exceeding its cash reserves of 2.3 billion yuan [17].