Core Viewpoint - The Chinese home furnishing industry is under pressure in 2024 but is gradually recovering due to multiple favorable policies, showcasing resilience and adaptability. The demand for improvement presents new development opportunities, while competition intensifies, highlighting the advantages of leading enterprises [1][22]. Group 1: Market Position and Development - According to Euromonitor International, Wan Shifu is the largest home installation and maintenance platform in China by GMV in 2024, indicating a significant market position [1][22]. - Wan Shifu has established itself as an "invisible champion" in the end-service sector of the home furnishing industry, solidifying its leading position [3][22]. - The company has achieved over 100 million orders by April 2023, marking it as the first platform in the industry to reach this milestone [21]. Group 2: Company Evolution and Innovations - Founded in 2013, Wan Shifu has transformed from a small company into an industry leader by addressing significant pain points in the traditional home furnishing sector, such as information asymmetry and service quality [4][6]. - The company pioneered several innovative service models, including "guaranteed transactions," "advance compensation," and "one-price" ordering, which have significantly improved user experience [12][14]. - Wan Shifu has collaborated with major e-commerce platforms and logistics companies to create a one-stop digital service model, enhancing market resource flow efficiency [12]. Group 3: Industry Challenges and Future Outlook - The home service industry has historically faced chaos and a lack of standards, but Wan Shifu has successfully carved out a path for others to follow [11][27]. - The company emphasizes the importance of both user and service provider satisfaction, which is seen as its competitive advantage [16]. - Looking ahead, the home service industry is expected to evolve with new opportunities arising from standardization and differentiated experiences, with Wan Shifu positioned to lead this transformation [27].