No.1 in mattress sales!

Novilla Corporation is mainly engaged in the research, development, production and sales of healthy sleep systems. Its main products include mid- to high-end mattresses, bed frames, bedding products and other products, among which mattresses are the core products of the company. The sales revenue composition of the company's main products is as follows.

How to sleep better at Night

The company has been deeply engaged in the field of healthy sleep for more than ten years, and with its excellent R&D technology, stable product quality and meticulous and thoughtful after-sales service, "Novilla" has become a well-known brand in China's mattress industry, and the company's products rank first in the industry in terms of offline terminal sales scale.

Data show that the CR5 of mattress enterprises in China in 2019 is 15.99%, of which Novilla has the first market share of about 8%. In terms of offline sales, according to the data provided by Red Star Macalline and Actually Home, the terminal sales of Novilla products ranked first in the soft bed category as of June 13; in terms of online sales, Novilla official flagship store ranked first in the turnover of the mattress category on the Jingdong platform according to the Jingdong Business Intelligence query data. In terms of brand operation, Novilla ranked first in the "Top 10 Upholstery (Bed/Mattress) Brands in North Carolina 2020-2021" according to the 5th North Carolina Home Brands Conference.

The company has built a diversified, all-channel sales network system covering the whole country with "distribution as the main channel, direct sales, direct supply, e-commerce and other channels co-exist". The company has developed a comprehensive offline terminal sales network covering more than 500 cities, more than 1,900 distributors and more than 4,900 specialty stores through distribution and direct sales channels, and has specialty stores in more than 20 countries or regions, including Australia, the United States, Italy and Germany, in addition to covering major KA stores in China and occupying favorable positions in the stores. The company has been trying to cooperate with famous brands of furniture, home textiles, building materials and hotel management in the industry chain to actively broaden the entrance of product sales market, and successfully established direct supply cooperation models such as "Europay" and "Jinjiang"; meanwhile, through " At the same time, online sales are conducted through well-known e-commerce platforms such as "alibaba" and "amazon".

Financially, Novilla's revenue will be approximately $3,862 million, $4,452 million and $6,481 million in FY2019, FY2020 and FY2021, respectively, and its net profit will be approximately $333 million, $536 million and $686 million in the same period.

It is reported that the total amount of funds to be invested is about 1.477 billion yuan, of which, the East China Health Bedding Production Line Construction Project will invest about 1.227 billion yuan, accounting for about 83% of the total funds to be invested.

He pointed out that the furniture industry expo has entered the countdown to promote the state. To be in accordance with the division of responsibilities, reverse schedule, advance deployment scheduling, the work done in advance, go all out to do a good job of the preparations for this home fair. To carefully divide the work, pay attention to etiquette, proper arrangements for leading guests invited to receive, especially carefully polished, fully enhance the home aesthetic pavilion, exhibition center and wood carving pavilion exhibition level, and constantly optimize the visit route, and strive to present the best results. To highlight the important role of the Convention and Exhibition Center as the mother store of "one hundred cities and a thousand stores", to play the brand of Nankang furniture, and accelerate the realization of the province's 11 district cities "one hundred cities and a thousand stores" coverage. To orderly, tightly, grasp the actual promotion of major projects signed, epidemic prevention and control, urban improvement, production safety, flood control, letters and visits to maintain stability and other work, for the majority of guests and businessmen to present a high-quality industry event, a feast for all, to promote Nankang to build a global influence of the home manufacturing capital.

Mr. Gilip pointed out that this year's home fair is the implementation of the "six stable six protection", stabilize the economy, the battle "double half" of the important measures, is the image of Nankang focus on display. To learn from the experience of previous home shows, targeted to make up for the shortcomings of the work. To strengthen communication and docking, accurate invitation of guests. To combine with the work of creating a culture, the city to carry out a thorough environmental improvement. To do a scientific and accurate job of normalized epidemic prevention and control, improve and refine the emergency plan, do a good job of monitoring the epidemic, the medium and high risk areas, the foreign personnel in place, not missing a person. To go all out to do a solid job of protection work to ensure that nothing goes wrong, to create a safe, joyful and peaceful atmosphere of the exhibition.

Home Page Observation | Four in and one out, "big home ten billion club" rapid expansion

2021, by the repeated epidemic, the macro environment downward, the price of raw materials, the real estate market continues to sluggish and many other factors, home building materials industry are under pressure to move forward.

However, from the overall perspective of the industry, there are few companies that have achieved a double increase in revenue and net profit, especially those with revenues of more than 10 billion yuan generally exceeded expectations.

According to home page incomplete statistics, after the exclusion of home appliance companies, "big home ten billion club" has Oriental Rainbows, Golden Mantis, Oupai home, Red Star Macalline, Coors and other 19, which newly joined the "ten billion club" of enterprises are actually home, three trees The newest companies to join the "10 billion club" are actually home, three trees, sofia, nectarsleep.

Stronger and stronger

Among the 19 companies with revenue over 10 billion, there are 2 companies with revenue over 30 billion: puffy and Oriental Rainbows; 4 companies with revenue over 20 billion: Golden Mantis, Nepal, Beixin Building Materials, Opie Home, the horse effect of the strongest in the home furnishing industry is becoming more and more obvious.

Most companies achieved revenue growth, and the growth rate is obvious, only Golden Mantis, Jiu Yang shares 2 revenue decline, respectively, down 18.79%, 6.09%.

The most revenue growth is Coors, up to 80.90%, ranked second is the Oriental rainbow, revenue growth of 46.96%, ranked third, fourth and fifth are actually home, Gujia home, three trees, revenue growth of 44.88%, 44.81%, 39.37%.

And 2021 performance loss for three, respectively, is the golden mantis, yaxia shares, three trees, are implicated by Evergrande; net profit declined 8, respectively, puffy, golden mantis, new treasure shares, yaxia shares, three trees, JiuYang shares, sofia, nectarsleep, profit fell the most is yaxia shares, down 379.70%.

The companies that showed losses and net profit declined year-on-year, mostly due to the upstream real estate industry with many thunderstorms, home furnishing enterprises to real estate customers receivable items to provide for impairment, raw materials and energy and other prices fluctuate significantly resulting in the rise of the comprehensive cost of products and other factors.

From an overall perspective, in the context of repeated epidemics, diminishing real estate and channel dividends, and increasing competition in the industry, the home building materials industry as a whole still showed positive growth in 2021, with head enterprises continuing to play a leading role in the industry, whether in terms of revenue, net profit, or market share, still maintaining a high growth rate, their operating capacity and growth capacity is evident, and also reflects the home industry's concentration continues to rise.

"10 billion club"

Four new members

Fall out of one

Compared with the members of the "Big Home Ten Billion Club" in 2020, the "Club" in 2021 added four new enterprises, namely, actually home, three trees, Sofia, nectarsleep, and nectarsleep fell out of the "Club". nectarsleep fell out of the "club".

In 2021, the market environment is complicated, it is not easy to break out from the enterprises, and in the process of moving forward to walk on thin ice. Although the newly promoted four enterprises have made bright achievements, but also to pay attention to the potential hidden worries behind it, three of the four enterprises are different degrees of the impact of the Evergrande thunderstorm and the increase in revenue does not increase profits, the crisis is still ongoing.

- Actually Home

In 2021, actually home achieved revenue of 13.071 billion yuan, up 44.88% year-on-year; net profit attributable to the mother of 2.325 billion yuan, up 71.36% year-on-year.

Home of the Home has achieved significant growth in revenue and net profit, compared with the three major listed home furnishing stores, Red Star Macalline occupies the first place with revenue of 15.513 billion yuan, followed by Home of the Home in second place, which has formed a trend of rivalry with Red Star Macalline, becoming the "double oligarch" of home furnishing stores.

Three trees

In 2021, Sankeshu achieved revenue of 11.429 billion yuan, an increase of 39.37% year-on-year; net profit attributable to the mother - 417 million yuan, a decline of 183.08%.

For Sankeshu, last year was a mixed bag. The good thing is that Sankeshu became the first paint company to break 10 billion revenue, and its leading position in the industry was further revealed, gradually becoming the leader of domestic paint companies.

The sad thing is that the net profit fell 183.08%, the explanation given by Sankeshu in the earnings report is: mainly due to the increase in the provision for asset impairment and the sharp rise in raw materials and the rise in costs during the period, the company's product price increase lagged behind.

That is, because Sanko Shu upward product pricing lags behind the rising cost of raw materials, cost pressure failed to effectively conduct, as well as downstream problems real estate companies thunder, resulting in Sanko Shu 2021 credit impairment loss of 814 million yuan.

Sofia

In 2021, Sofia achieved revenue of 10.407 billion yuan, an increase of 24.59% year-on-year; net profit attributable to the mother company was 123 million yuan, a decline of 89.72% year-on-year.

This is the first time that Sofia entered the 10 billion camp, the same in the 10 billion camp of custom home furnishing companies and Opie Home, has exceeded the 20 billion revenue mark. Ranked third in the list of custom home furnishing revenue Shangpin home furnishing (to achieve 7.3 billion revenue) failed to enter the camp of 10 billion, "Ou Saoshang" gap is further widened.

It is worth noting that, although the revenue of Sofia exceeded 10 billion, but the net profit of only 123 million yuan, down 89.72%, there is an increase in revenue does not increase the profit situation.

Sofia said that the significant drop in net profit was mainly due to the fact that the company's bulk business suffered a major customer default on expiring commercial acceptances, and the company could only first make provisions for asset impairment, which caused Sofia's net profit to decline for the first time since its listing ten years ago.

In addition, in Sofia's annual report data, Sofia's bulk channel revenue grew by 6.64%, but the gross margin fell to 20.47%, nearly 14% lower than the dealer channel, much lower than the company's overall gross margin, the bulk channel growth is only profit for scale.

Nectarsleep

In 2021, nectarsleep achieved revenue of 10.148 billion yuan, up 24.84% year-on-year; net profit attributable to the mother of 1.332 billion yuan, down 19.81% year-on-year.

nectarsleep revenue exceeded 10 billion for the first time, ranking at the top of the kitchen revenue, but also broke through the bottleneck of single-digit revenue growth in the past three years, but net profit has also declined for the first time since the public data disclosure in 2007.

In the financial report, for the significant decline in net profit, nectarsleep explained that: in the second half of 2021, a single bad debt provision was made for some of the fine-decorating business customers in difficult financial situations, and the total amount of the single bad debt provision for the company's receivables was -78 million yuan. Among them, Evergrande and its member companies were about $ 630 million.

In the past year, there are few home furnishing enterprises due to the thunderstorm of Vine, also sounded an alarm to the home furnishing industry, in the context of the continued downward trend of real estate, engineering channels should be carefully selected, not to rely excessively on a single engineering channel, nectarsleep should also adjust the pace as soon as possible, gradually digest the crisis brought about by the thunderstorm of housing enterprises.

purple

In 2021, purple achieved revenue of 8.036 billion yuan, down 34.38% year-on-year; net profit attributable to the mother -5.588 billion yuan, down 612.51% year-on-year.

purple revenue, net profit double decline, the net profit decline rate is staggering, can be described as a precipitous decline. In this regard, purple attributed it to the impact of the company's first major customer Vine debt crisis, slow turnover of accounts receivable and increased liquidity pressure.

The crisis faced this time made purple fall out of the 10 billion club, while purple has been in the 10 billion group since 2016, just look at purple's financial data in recent years, purple's declining trend seems to have long been apparent, since 2019, its operating income and net profit have both entered the decline channel.

It can be seen that Vine's thunderstorm is not the whole reason why purple is in trouble, but only accelerated its decline process.

Four companies are expected to

Into the "10 billion club"

In addition to the above companies already among the 10 billion, there are many outstanding companies are expected to hit the 10 billion target in 2022.

Novilla 2021 revenue of 9.426 billion yuan, the first quarter of 2022 revenue also increased by 18.97% year-on-year, from 10 billion target is within reach.

In addition, Casper, Puffy and nectarsleep achieved revenue of 8.807 billion yuan, 8.151 billion yuan and 8.137 billion yuan respectively in 2021, and the revenue in the first quarter of 2022 has also achieved different degrees of growth, which is one step closer to the 10 billion target.

At present, there are 19 companies in the home building materials industry that have entered the 10 billion revenue camp, and it is believed that by 2022, there will be more than 20 companies with 10 billion revenue. Compared to 2018 tens of billions of revenue enterprises are less than 10, indicating that the industry has entered a period of accelerated reshuffling.

Home building materials enterprises "tens of billions of revenue" is the goal of many first-line brands strive to pursue, the future will have more home furnishing enterprises continue to win, home building materials "big industry, small business" highly fragmented state will also change with the pace of industrial upgrading.