Core Viewpoint - Qisheng Technology Co., Ltd. announced an investment of 99.90% in Jiaxing Dunsheng Beibei Equity Investment Partnership, focusing on smart healthcare and intelligent devices [1] Group 1: Investment Details - Qisheng Technology's wholly-owned subsidiary, Linsheng Investment (Hainan) Co., Ltd., plans to invest 99.90 million yuan in Jiaxing Dunsheng Beibei [1] - The investment will be made using the company's own funds [1] Group 2: Investment Focus - Jiaxing Dunsheng Beibei will primarily invest in smart healthcare, intelligent devices, and digital health services [1] - The fund aims to target enterprises or projects with investment value and potential returns [1] Group 3: Company Background - Qisheng Technology is a leading global provider of health sleep solutions and one of the largest smart bed manufacturers [1] - The company offers a product matrix that includes electric beds, memory foam mattresses, and smart beds [1] Group 4: Strategic Implications - The investment aligns with Qisheng Technology's strategy to explore potential sectors in smart healthcare and health products [1] - Utilizing professional investment experience is expected to enhance the company's industry development and broaden investment channels [1] - This move aims to improve investment returns for shareholders [1]

Core Viewpoint - The home furnishing industry is undergoing a significant transformation characterized by a stark performance divide among companies, with increasing market competition and revenue pressures across various segments [1][2]. Revenue Decline - In Q3 2025, all segments of the home furnishing industry faced revenue declines, including custom furniture, soft furniture, and building materials [2]. - Notable revenue figures include: - Oppein Home: 13.214 billion, down 4.79% - ZBOM Home: 3.074 billion, down 16.36% - Sofia: 7.008 billion, down 8.46% [3][5]. Performance Metrics - Key performance metrics for various companies in Q3 include: - Oppein Home: Revenue 13.214 billion, Net Profit 1.835 billion, both down - ZBOM Home: Revenue 3.074 billion, Net Profit 0.173 billion, both down - Rabbit Baby: Revenue 6.319 billion, down 2.25%, Net Profit 0.635 billion, up 29.02% [3][5][6]. Market Trends - The home furnishing market is shifting towards higher quality-price ratios, personalized designs, and comprehensive space solutions, demanding enhanced product development and service capabilities from companies [9]. - Leading companies are adopting a "one-stop" model and utilizing AI design tools to improve customer engagement and sales conversion rates [9][10]. Channel Structure Adjustment - The online channel has evolved into a core platform for brand promotion, lead generation, and precise marketing, with some stores incorporating live streaming to enhance customer interaction [10]. - Consumer expectations for product quality, environmental sustainability, and personalization are rising, influencing company strategies [10]. International Expansion - Many home furnishing companies are increasingly looking to international markets for growth, transitioning from light asset trials to heavy asset investments [11]. - Companies like Gold Medal Home and ZBOM Home are expanding their overseas presence, establishing subsidiaries and local production bases to reduce costs [11][12][14]. Strategic Adjustments - Companies capable of "going global" are encouraged to adjust their market strategies, focusing on precise, specialized, and targeted market development [14].

Group 1 - Sweet Furniture, a Chinese company from Zhejiang, achieved over $10 million in sales within a year, driven by viral products like the "zero gravity chair" and a legless chair that generated $5.5 million in sales [2][4] - The company entered TikTok Shop in August 2023 and quickly rose to the top of its category by leveraging the platform's unique content-driven e-commerce model [2][4] - The legless chair's success is attributed to a combination of product design and TikTok's platform effects, meeting the high demand for comfortable office furniture among overseas users [5][10] Group 2 - TikTok's vast user base of 1 billion active users provides a significant advantage for brands, allowing products to gain traction quickly through community engagement and influencer marketing [10][18] - Influencers play a crucial role in demonstrating product features in relatable ways, which enhances consumer understanding and drives sales [14][15] - Sweet Furniture's strategy of collaborating with influencers resulted in substantial sales, with one influencer's store generating $32.43 million in revenue [15][18] Group 3 - The success of Sweet Furniture and other Chinese brands like FlyBird on TikTok highlights the platform's effectiveness in overcoming traditional e-commerce challenges, such as consumer perception of large furniture items [5][10] - FlyBird also experienced rapid growth, achieving $10 million in sales for a fat-burning machine and $2 million for an abdominal machine shortly after entering TikTok Shop [10][18] - The ability to reach a global audience through platforms like TikTok represents a new pathway for Chinese companies to expand internationally, despite challenges such as language barriers and cultural differences [18]