This week’s special topic: combing the “315” packages of customized furniture enterprises and observing the “whole family” upgrading of the industry: approaching the “315” promotion season, Oppein Home Group Inc(603833) , Suofeiya Home Collection Co.Ltd(002572) , Jason Furniture (Hangzhou) Co.Ltd(603816) launched new packages of 29800 yuan / 39800 yuan / 49800 yuan respectively, and Zbom Home Collection Co.Ltd(603801) and Goldenhome Living Co.Ltd(603180) also launched multiple packages respectively, setting off an upsurge of industry marketing. On the whole, the 315 promotion of head customized furniture enterprises mostly focuses on the field of whole family and whole house customization, and the package content pays more attention to the matching sales with soft furniture, supporting household products and household appliances, so as to provide consumers with one-stop home decoration and home service that saves worry and effort. We are optimistic that, driven by the continuous upgrading of category integration, the joint order rate and customer single value of customized furniture enterprises will increase steadily. From the comparison of packages between head enterprises and non head enterprises, head enterprises have obvious advantages in package price, cooperative brand awareness, activity intensity and so on. We believe that the whole industry has been upgraded, and the requirements for customized furniture enterprises in terms of product strength, brand strength and category number have been raised again. Non leading enterprises are limited by their own brand influence, and leading software furniture and home appliance brands are more inclined to cooperate with leading enterprises, superimposing a limited number of their own categories, Multi category integration, insufficient sales capacity and other factors can not keep up with the upgrading pace of the whole head enterprise, and the industry concentration is expected to accelerate. It is suggested to pay attention to the customized furniture head enterprises Oppein Home Group Inc(603833) , Suofeiya Home Collection Co.Ltd(002572) , Zbom Home Collection Co.Ltd(603801) , Goldenhome Living Co.Ltd(603180) ; And China’s leading soft furniture maker with smooth customization business Jason Furniture (Hangzhou) Co.Ltd(603816) .
Investment strategy in 2022: seek “progress” in “change” and take the lead in subdividing leaders. Furniture: focus on domestic market channel reform opportunities. Among them, it is suggested to pay attention to Oppein Home Group Inc(603833) , Suofeiya Home Collection Co.Ltd(002572) , Zbom Home Collection Co.Ltd(603801) , Goldenhome Living Co.Ltd(603180) ; It is suggested to pay attention to Jason Furniture (Hangzhou) Co.Ltd(603816) , Qumei Home Furnishings Group Co.Ltd(603818) etc. in the finished furniture sector. Papermaking, packaging and printing: subdivide the track pattern and optimize the strong. It is suggested to pay attention to Shandong Sun Paper Co.Ltd(002078) , Shanying International Holdings Co.Ltd(600567) , Xianhe Co.Ltd(603733) , Quzhou Wuzhou Special Paper Co.Ltd(605007) , Chongqing Baiya Sanitary Products Co.Ltd(003006) , Hangzhou Haoyue Personal Care Co.Ltd(605009) , etc. Entertainment and jewelry sector: the consumption upgrading continues and the prosperity rises. It is suggested to pay attention to Shanghai M&G Stationery Inc(603899) and Chow Tai Seng Jewellery Company Limited(002867) etc. Retail of home building materials: professional home building materials stores are still dominant, and digital and high-frequency consumption empowerment have become the mainstream. It is suggested to pay attention to Easyhome New Retail Group Corporation Limited(000785) , Red Star Macalline Group Corporation Ltd(601828) , which are leading in digital transformation. Textile and clothing: the trend of national fashion continues, and there are good opportunities for sports shoes and children’s wear. Attention, attention, and suggestions of the Ministry of sports of the people’s Republic of China.
Market review this week: this week, the Shanghai Composite Index fell 4%, and the light industry manufacturing industry fell 4.57%, slightly underperforming the market. The textile and garment industry fell 4.99%, slightly underperforming the market. Among them, the paper sector fell 3.94%, the packaging and printing sector fell 4.44%, the home sector fell 5.95%, the entertainment light industry sector fell 3.5%, and other light industry sectors fell 2.74%. The textile manufacturing sector fell 4.75%, and the clothing and home textile sector fell 4.74%. The top three gainers of light manufacturing industry this week are Beijing Shengtong Printing Co.Ltd(002599) (7.52%), the great wall of culture (7.39%), and Guangdong New Grand Long Packing Co.Ltd(002836) (6.32%); The top three declines were Hailun Piano Co.Ltd(300329) (- 15.03%), Jiangshan Oupai Door Industry Co.Ltd(603208) (- 14.67%), Goldlok Holdings(Guangdong) Co.Ltd(002348) (- 13.06%). The top three gainers of textile and garment industry are Jiangsu Sunshine Co.Ltd(600220) (31.39%), St Bailong (9.93%) and St Tianshou (3.29%); The top three declines were Li Ning (- 20.04%), Zhe Jiang Taihua New Material Co.Ltd(603055) (- 16.69%) and Huali Industrial Group Company Limited(300979) (- 16%).
Risk warning: the price of raw materials fluctuates sharply; Risk of sluggish terminal demand; Exchange rate fluctuation risk.
