In the first half of this year, wood furniture companies showed an upward trend as a whole. The competition among companies in the industry was still fierce, and their performance rankings changed significantly. The reporter recently counted 18 wood furniture companies in the 2021 semi-annual report, and Gujia Home Furnishing's revenue was 8.016 billion yuan in the first place, and Yazhen Home Furnishing's revenue was 128 million yuan as the bottom company. The net profit growth rate of Pingtan Development, Del Future and Tubao exceeded 500%.
With the overall performance improving, Yazhen Home Furnishing lost 18 million yuan, becoming the only loss-making company. In addition, Zhejiang Yongqiang, Zhongyuan Home Furnishing, and Aili Home Furnishing have negative growth in net profit. In the first half of this year, Yihua Life was terminated from listing.
The home furnishing industry presses the development "accelerator" key, and the pace of industry transformation and upgrading is accelerated. Some people in the industry believe that the industry's self-innovation may be one of the directions for future development and improvement.
9 companies' net profit growth rate exceeded 100%
Under the trend of consumption recovery, the wood furniture industry as a whole shows an upward trend. Revenue differentiation is obvious. Gujia Home Furnishing ranks first with 8.016 billion yuan, 3.81 billion yuan higher than Zhejiang Yongqiang, which ranks second. Yazhen Home Furnishing was at the bottom with a revenue of 128 million yuan. Compared with Gujia Home Furnishing, the revenue difference was 7.88 billion yuan.
In terms of net profit, Gujia Home Furnishing ranked first with 772 million yuan, and the net profits of other companies were all less than 500 million yuan. According to the data, Zhejiang Yongqiang, Rabbit Baby, and Daya Dekor ranked second, third, and fourth respectively, with net profits of 458 million yuan, 314 million yuan, and 302 million yuan, respectively. The revenues of other companies were all less than 300 million yuan. . Yazhen Home Furnishing is the only loss-making company with a net profit of -18 million yuan.
There is also a big gap in net profit growth. There are 9 companies with a growth rate of more than 100%. Among them, Pingtan Development has a net profit growth rate of 1710.0%, the fastest growth rate. The growth rates of Del Future and Tubao were 711.35% and 632.65% respectively. Four companies have experienced negative growth, including Zhejiang Yongqiang, Zhongyuan Home Furnishing, Aili Home Furnishing, and Yazhen Home Furnishing, with net profit growth rates of -24.57%, -49.90%, -82.31%, and -0.357%, respectively.
Alternate ranking highlights fierce competition
The reporter found in comparison that compared with the same period in 2020, the ranking of wood furniture companies in the first half of this year has changed significantly, and the competition of "you catch up with me" is fierce.
According to the ranking of net profit in the first half of 2020, the first to fifth places are Zhejiang Yongqiang, Gujia Home Furnishing, Daya Dekor, Henglin Stock, Jiangshan Oupai, with net profits of 608 million yuan, 576 million yuan, 158 million yuan, 156 million yuan, 135 million yuan. In the first half of this year, Gujia Home Furnishing surpassed Zhejiang Yongqiang, ranking first with 772 million yuan, and Baobao and Xilinmen jumped to third and fifth respectively. Daya Dekor, Jiangshan Oupai, and Henglin shares retreated to the fourth, sixth and seventh places respectively.
In addition to Yihua Life, which was terminated from listing, the bottom five companies also changed. In the first half of 2020, the last five companies were Pingtan Development, *ST Yazhen, *ST Yonglin, Qumei Household, and Meike Household. In the first half of this year, the last five companies were *ST Yonglin and Green Phil, Zhongyuan Home Furnishing, Aili Home Furnishing, and Yazhen Home Furnishing have net profits of 31 million yuan, 22 million yuan, 11 million yuan, 707.8 million yuan, and -18 million yuan respectively. Alternate rankings show that industry competition is more intense.
Digitization, branding, and youth are becoming a trend
Under the impact of the epidemic, the price of wood has risen, the furniture industry has fallen into a trough, and weak small enterprises are facing elimination. In the first half of this year, many companies were testing the boundaries of "survival or death". Among them, Yihua Life was terminated from listing. Although Yazhen Home removed the delisting risk warning and ST removed its cap, the half-year performance still suffered a loss.
However, with the effective control of the domestic epidemic, in the context of the gradual recovery of consumption, most wood furniture companies have accelerated their pace of transformation and upgrading, continue to explore digital changes, and at the same time, focus on strategic directions such as brand rejuvenation. Among them, Xilinmen focuses on the main business of furniture, focuses on the field of healthy sleep, deeply explores the consumer market for young people, and specializes in independent brand building. And Gujia Home Furnishing is also firm in its retail transformation strategy, in-depth research on consumer preferences, layout of a multi-brand, full-category product system, and establishment of diversified sales scenarios.
Industry insiders believe that as consumers pay more attention to the brand image and brand cultural connotation of home furnishing companies, the home furnishing industry needs to convey its value connotation to consumers. At the same time, the epidemic has accelerated the transformation and upgrading of the industry, and the market prospects are still broad. Self-innovation of the industry may be one of the directions for future development and improvement.
