GRANDLAND GROUP(SZ:002482)2022-12-03 09:54Financial Performance - In 2017, the company reported an operating revenue of 12.535 billion CNY, representing a year-on-year growth of 23.96% [2] - The net profit for 2017 was 647 million CNY, with a significant increase of 60.58% compared to the previous year [2] - For Q1 2018, the operating revenue was 2.329 billion CNY, and the net profit was 72 million CNY [2] - The company anticipates a net profit growth of 20%-50% for the first half of 2018 [2] Order Situation - In 2017, the total orders for the decoration business amounted to 14.352 billion CNY [3] - For Q1 2018, the decoration business orders reached 4.009 billion CNY, showing a remarkable year-on-year growth of 87.25% [3] - The company maintains an optimistic outlook on the continuous growth of new signed orders for 2018 [3] Market Opportunities - The implementation of full decoration policies by various governments is expected to change the construction organization methods, favoring professional contractors over individual household renovations [3] - The concentration of decoration companies is anticipated to increase, providing significant market opportunities for companies with large-scale residential decoration capabilities [3] - The demand for long-term rental apartments is expected to rise due to favorable policies and demographic trends, further boosting the market for bulk renovations [4] Business Development - The company has initiated its internet home decoration business, "Guojia Home," since May 2017, and has established a partnership with Tencent in Wuhan [5] - The business model is set to expand to other cities such as Taiyuan, Nanjing, and Chengdu based on the success in Wuhan [5] - The smart home business is progressing well, with projects already launched in Shenzhen [5]