"Gujia Home Furnishing will transform from a channel operator to an integrated home retail operator in the next three years."
Author: Liu Xiaoqi Produced: Finance Doodle
According to the company's intelligence expert "Financial Graffiti", on the evening of April 29, Gujia Household (603816.SH) disclosed the company's 2020 annual report and 2021 quarterly report. In 2020, it achieved revenue of 12.666 billion yuan, a year-on-year increase of 14. 17%; net profit attributable to the parent company was 845 million yuan, a year-on-year decrease of 27.19%.
Also as a leader in custom home furnishings, Oupai Home Furnishing (603833.SH) released its 2020 annual report on the 22nd. In the context of the slowdown in the industry's growth rate, revenue and net profit have performed well: total revenue reached 147 RMB 4 billion, an increase of 8.91% year-on-year; net profit attributable to the parent company was RMB 2.063 billion, an increase of 12.13% year-on-year.
In comparison, the revenue and net profit of Gujia Home Furnishing last year were not equal to Oupai Home Furnishing.
At present, Gujia Home Furnishing has more than 6000 brand exclusive stores worldwide, and it is the leader with the largest number of stores and the widest coverage in the domestic software home furnishing industry.
In terms of channels, Gujia Home Furnishing has established a 1+N+X development model, actively creating a multi-category combination of large home fusion store model, and is committed to developing the transformation and innovation of all categories of large home furnishings.
Among them, "1" is the model of family life, integrated large stores, category potential stores, etc.; "N" is mainly a series of single stores and category comprehensive stores, which are the main force of the existing store system; "X" is the exploration of the infinite possibilities of channels, compliant Channel fragmentation trend.
In 2020, Gujia Home Furnishing will also enhance the strategic position of e-commerce, using various new retail models to achieve sales, and at the same time expand new channel formats in department stores, B&Q, Suning, and supermarkets.
Oupai Home Furnishing, which started from kitchen cabinets, saw its business decline for the first time in 2020, with revenue falling by 2.13% year-on-year to 6.061 billion yuan; from the perspective of sales volume, sales of kitchen cabinets in 2020 were 713,300 sets, year-on-year An increase of 2.52%. On the contrary, the wardrobe sector has become the driving force for the performance growth of Oupai Home Furnishing. In 2020, the revenue will be 5.772 billion yuan, an increase of 11.71% year-on-year. The combined revenue of the two accounts for approxim
ately 80% of the company's total revenue.In the first quarter of 2021, Gujia Home Furnishing achieved revenue of 3.782 billion yuan, an increase of 65.32% year-on-year; net profit attributable to the parent company was 385 million yuan, an increase of 25.58% year-on-year.
In the financial report, Gujia Home Furnishing has planned the long-term strategic positioning of the company's related businesses and fields in the next three years (2021-2023): the domestic trade business will be transformed from the current category-based "channel operator" into a multi-brand, full-category (series) , An omni-channel "integrated home retail operator".
The foreign trade business has transformed from an OEM/ODM manufacturer with a Chinese base for global supply to an integrated supply chain service provider with "global layout and local operation".
In terms of manufacturing and supply chain, on the basis of fully launching lean, equipment, and informatization, Gujia Home Furnishing will build global-oriented large-scale manufacturing capabilities and supply delivery capabilities through global supply layout and manufacturing and supply chain model changes. , Preliminary realization of leading the global software industry, moving towards digital supply chain and industrial 4.0.
On the evening of the 29th, Oupai Home Furnishing also announced its 2021 Q1 performance report, achieving revenue of 3.30 billion yuan, a year-on-year increase of 130.74%; net profit attributable to the parent of 244 million yuan, a year-on-year increase of 340.0% . It can be seen that in the first quarter, Gujia Home Furnishing regained one city in terms of performance.
In the first quarter of this year, Oupai Home Furnishings newly added three top ten shareholders, including the rich country high-tech industry mixed type, holding 0.40%; Harvest core growth mixed type and Guangfa steady growth holding 0.36% and 0.32 respectively. %.
my country's furniture industry has a large number of enterprises, the industry is relatively scattered, and the industry concentration is low. According to data from the National Bureau of Statistics, the operating income of enterprises above designated size in my country's furniture manufacturing industry will be 68.754 billion yuan in 2020, and the number of enterprises above designated size in the furniture industry will reach 6,544.
At present, my country is not only the world's largest producer and consumer of soft furniture, but also the world's largest exporter of soft furniture. According to data from the General Administration of Customs, the cumulative export value of my country's furniture and parts in 2020 is 403.86 billion yuan, an increase of 12.2% over the same period in 2019.