Company Overview - The company in focus is Hanhigh Group, which specializes in kitchen storage hardware, wardrobe storage hardware, faucets, door locks, hinges, slides, drawers, bathroom hardware, kitchen appliances, and outdoor furniture [2] - Initially, the company engaged in hardware OEM and export business but shifted its focus to building its own brand and kitchen functional hardware products starting in 2007 [2] Financial Performance - Hanhigh Group's projected revenues for 2022, 2023, and 2024 are 1.62 billion, 2.22 billion, and 2.857 billion respectively, with net profits of 199 million, 329 million, and 520 million [2] - The overall financial performance appears stable, but there are concerns about potential changes post-IPO [2] IPO and Market Performance - The company was sponsored by Guotai Junan Securities, which initially planned to raise 420 million but ended up raising 610 million, exceeding the target by nearly 200 million [4] - The first day of trading saw a significant increase of 418%, reaching a peak price of 120, but the stock has since experienced a downward trend, falling for 6 out of 8 days [4][6] - The stock price dropped from its peak to 45.02, representing a significant decline [4][6] Market Sentiment - There is a prevailing sentiment that new stocks often peak on their first day of trading, leading to substantial losses for investors who buy in at high prices [6][11] - The lack of price limits in the first five days of trading is viewed as a potential trap for investors, as many stocks experience sharp declines shortly after their initial surge [11]

Core Viewpoint - The home hardware industry is facing intensified price wars and a lack of quality trust, prompting NUOMI to launch the "Quality Commitment Letter," establishing a new standard for quality service with a "Lifetime Warranty" to rebuild trust in the industry [1][6][15] Industry Overview - The Chinese home hardware market is substantial, reaching 226.11 billion yuan in 2023 and expected to exceed 324.4 billion yuan by 2028, despite the overall downturn in the home industry [2] - The home hardware sector is experiencing stable growth against a backdrop of fierce competition, leading to a vicious cycle of price wars and low quality, with significant issues such as product homogeneity and inadequate after-sales service [2][4] Quality Commitment Initiative - NUOMI is the first in the industry to publicly commit to quality through the "Quality Commitment Letter," which guarantees free updates or repairs for products with quality issues within their lifecycle [6][8] - This commitment addresses the lack of authoritative documentation in quality service, providing customers with a strong basis for rights protection [6][8] Impact on Stakeholders - The "Lifetime Warranty" directly addresses pain points for various customer groups, transforming the traditional limited warranty (usually 1-3 years) into a more comprehensive offering [8][10] - Partners of NUOMI benefit from reduced after-sales costs associated with hardware quality issues, allowing them to escape the homogenized price competition and enhance product premium capabilities [10] - Designers are liberated from concerns about hardware durability, enabling them to pursue design freedom without compromising on quality [11] Consumer Benefits - The Quality Commitment Letter serves as a "lifetime worry-free" quality contract for consumers, significantly shortening the decision-making process by establishing trust in the reliability of hardware products [13] - This initiative positions hardware components as "durable assets" rather than "consumables," fostering a long-term win-win value for consumers, designers, and B-end partners [13] Conclusion - NUOMI, with over 20 years in the high-end custom hardware sector, maintains a commitment to "professionalism, high-end, and quality," supported by over 260 patents and a smart manufacturing base [14] - The release of the Quality Commitment Letter is set to establish new quality standards in the industry, aligning Chinese manufacturing with global standards and fulfilling the quality expectations of millions of households [15]