Kunpeng Project The home furnishing industry used to be a thriving business field, however, under various challenges, its temporary prosperity is undergoing a severe test. With the impact of the mask incident and the tightening of real estate policies, China's real estate investment fell by 22% in 20223%, causing the housing market to plummet. This change caused the sales revenue of the furniture manufacturing industry to drop by 5 compared with the same period last year8%, the industry has entered a cold winter period.
In 2023, China's home furnishing industry will once again usher in a cold winter. According to the National Bureau of Statistics, from January to November last year, the sales revenue of the national furniture manufacturing industry decreased by 5 compared with the same period in 20228%。This trend has also directly affected the performance of many leading companies, and the market value and stock price have shrunk significantly.
Specifically, among the 70 A-share listed home furnishing companies, 39 have seen their market value decline, and the leading enterprises with a market value of more than 100 billion yuan in the past have been hit hard. It is particularly noteworthy that even the home furnishing giant Oppai, its annual revenue only increased by about 5%, and its net profit failed to meet expectations, **More than 50% of the stock price evaporated the market value by more than 30 billion overnight.
In the face of the downturn in the industry, companies have also chosen to defect. Many home furnishing companies have shelved their planned IPOs and have encountered declining performance and market difficulties. For example, Kefan Home Furnishing achieved revenue of 10600 million yuan, a year-on-year decrease of nearly 50%, and its IPO application was forced to be suspended.
However, in this cloudy sky, Minhua Group is an unusual star. Its revenue has grown steadily over the past five years, and its net profit has continued to increase, demonstrating strong market attractiveness and excellent operating efficiency. The reason for this is that the way to success lies in the keen insight into the market and the effective motivation and management of the team.
The cold winter of the home furnishing industry requires joint efforts and innovation inside and outside the industry. Companies need to keep in mind that the core of innovation is consumer-centricity. Product innovation, service upgrading, and technological innovation should all revolve around the needs of consumers. Only by truly making consumers feel cared, convenient and affordable, can enterprises be invincible in the market.
Xiao Nan feels that the ups and downs of the industry are inevitable. Only those enterprises that can maintain confidence in the predicament and have the courage to reform and innovate can thrive in the face of adversity and usher in new development opportunities. Therefore, let us look forward to the fact that after this cold winter, the home furnishing industry can glow with more brilliant vitality and open a new era of development!
So what do you think about the downturn in the home furnishing industry? Feel free to leave your views and thoughts in the comment area.