On March 21, world sleep day, topics such as "Beware of these sleep misunderstandings" and "insomnia self-help guide" caused heated discussion on social media. The search of shell finance reporter of Beijing News found that the topic "insomnia" has reached 500 million readers on Weibo. Insomnia is giving birth to a 100 billion market.
AI media consulting's 2021 Research Report on China's sleep economy industry shows that China's sleep economy has entered a rapid development period in recent years. From 2016 to 2020, the overall market scale of China's sleep economy has increased from 261.63 billion yuan to 377.86 billion yuan, an increase of 44.42%.
From the perspective of listed companies, Xlinmen Furniture Co.Ltd(603008) , Jason Furniture (Hangzhou) Co.Ltd(603816) , Healthcare Co.Ltd(603313) and other head household enterprises involving the concept of sleep economy have released the performance express of 2021 Xlinmen Furniture Co.Ltd(603008) and Jason Furniture (Hangzhou) Co.Ltd(603816) have increased in advance, with a minimum increase of 500 million yuan and 1.6 billion yuan respectively. However, Healthcare Co.Ltd(603313) has an advance loss of 240 million yuan to 300 million yuan, a decrease of 619 million yuan to 679 million yuan, a year-on-year decrease of 163% - 179%.
multiple household enterprises 2021 annual performance increase
mousse shares, fun Sleep Technology IPO still on the road
"One third of one's life is spent in bed." A common saying in the announcement of mousse shares shows the importance of mattresses to sleep, and also shows the rigid demand of mattresses and other sleep products in the market.
Among various sleep products, home products such as mattresses constitute the most prominent part of the sleep economy, and the corresponding home enterprises have become an important economic entity of the sleep economy.
The reporter of shell finance found that Xlinmen Furniture Co.Ltd(603008) , Jason Furniture (Hangzhou) Co.Ltd(603816) , Healthcare Co.Ltd(603313) and other head home furnishing enterprises involving the concept of sleep economy have released the performance express of 2021.
Xlinmen Furniture Co.Ltd(603008) performance pre increase announcement shows that the net profit attributable to shareholders of listed companies is expected to be RMB 550 million to RMB 560 million in 2021, with an increase of RMB 237 million to RMB 247 million, a year-on-year increase of 75.49% to 78.68%.
The company expects that the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses in 2021 will be 495 million yuan to 505 million yuan, with an increase of 182 million yuan to 192 million yuan, a year-on-year increase of 57.95% to 61.14%.
Jason Furniture (Hangzhou) Co.Ltd(603816) performance pre increase announcement shows that the net profit attributable to shareholders of listed companies is expected to be RMB 1.65 billion to 1.73 billion in 2021, with a year-on-year increase of 95% to 105%. The company expects that the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses in 2021 will be RMB 1.42 billion to 1.5 billion, with a year-on-year increase of 140% to 154%.
On January 28, Healthcare Co.Ltd(603313) released the announcement of performance loss in advance. It is estimated that the net profit attributable to shareholders of Listed Companies in 2021 will be a loss of 240300 million yuan, a decrease of 619679 million yuan compared with the same period of last year, a year-on-year decrease of 163% - 179%. After deducting non recurring gains and losses, the company's performance is expected to decrease by 506 million yuan to 566 million yuan, a year-on-year decrease of 145% - 162%.
Healthcare Co.Ltd(603313) pointed out that the main reason for the performance loss in the current period was the sharp rise in raw material prices, labor costs and overseas transportation costs, resulting in the decline of product gross profit margin; The surge of Global trade protection measures and trade frictions among major economies have a negative impact on production and sales; The company's factories in the East and west of the United States are in the production capacity climbing period. Affected by the epidemic, the factory's production schedule is lower than expected and belongs to a state of loss.
Previously, the reporter of shell finance combed the financial situation of eight home furnishing companies in the field of sleep, including Xlinmen Furniture Co.Ltd(603008) , Jason Furniture (Hangzhou) Co.Ltd(603816) , Healthcare Co.Ltd(603313) , Shanghai Shuixing Home Textile Co.Ltd(603365) , Hunan Mendale Hometextile Co.Ltd(002397) , Shenzhen Fuanna Bedding And Furnishing Co.Ltd(002327) , mousse shares and fun sleep technology, and found that the annual operating revenue was mostly billions of yuan. Among them, Jason Furniture (Hangzhou) Co.Ltd(603816) , with a higher income scale, with an operating income of about 12.6 billion yuan in 2020.
In terms of sales channels, most household listed companies adopt the dealer model. In recent years, with the overall consumption channel shifting to online, major companies are also shifting from offline traditional distribution channels to e-commerce channels. However, due to the problems of pre-sales experience, transportation and after-sales of household products, most enterprises still focus on offline channels.
In terms of channels, qusleep technology, which is planned to be listed on the gem, is relatively special. It mainly adopts the asset light business model of "outsourcing production + Internet sales", and the company's income mainly comes from online sales. According to the prospectus, from January to June 2021, the sales amount of qusleep technology mattress products was 101 million yuan, with a gross profit margin of 34.16%, and the offline sales amount was only 816100 yuan, with a gross profit margin of 32.10%. The gross profit margin of online sales of other categories of products is more than 30%, and most of the gross profit margin is higher than that of offline sales.
With the intensification of competition in China and the impact of international brands, the household industry is currently facing the risk of declining profit margins. Mousse and Xlinmen Furniture Co.Ltd(603008) both suggested in public information that the intensification of market competition may lead to the decline of the average profit margin of the industry.
In the second half of 2021, the updated prospectus of mousse shares and fun Sleep Technology in the field of sleep economy applied for listing. On November 12 last year, mousse submitted its prospectus for the second time to improve the relevant feedback previously put forward by the regulatory authorities. Mousse's prospectus shows that it is mainly engaged in the R & D, production and sales of healthy sleep system, and its main products include medium and high-end mattresses, bedsteads, bedding and other products.
On March 21 this year, the reporter inquired the official website of the CSRC and found that the IPO information of mousse shares was still in the review feedback state on October 29.
Qusleep technology passed the meeting on the gem in July 2021. According to the official website of the CSRC, it was asked for a second inquiry at the registration stage on January 29 this year.
According to the prospectus, the company's main business is the R & D, design, production and sales of easy to install furniture, home textiles and other household products. At the same time, it is also disclosed that all products of the company are outsourced. The related parties of Xiaomi group, Shunwei investment and Tianjin Jinmi investment, took shares in the issuer, and the company took Xiaomi e-commerce platform as the main sales channel.
The main question is whether the positioning and description of the company's main business are true and accurate; Whether the company has special treatment or preference in terms of sales, promotion and rebate of Xiaomi platform.
Compare and analyze whether there are differences in the company's sales policies on the main e-commerce sales platforms. If so, analyze whether the company relies on Xiaomi, whether there is benefit transmission, and whether the main business is stable and sustainable.
in 2021, the number of sleep related patents reached a peak
popular melatonin is mostly produced by large pharmaceutical or health care enterprises
In many eye-catching publicity, sleep products are extended from traditional household hardware to scientific and technological instruments, from prescription drugs to health products and food such as melatonin.
Enterprises engaged in sleep business also launch various sleep aid products that act on human senses, such as essential oil "aromatherapy" for smell, steam eye mask for eye soothing, noise reduction earplugs for isolating sound, and hardware or software for playing white noise. In addition, new products such as sleeping spray, sleeping cream and sleeping paste are also coming out. In a word, sleep products have penetrated into many fields, such as home hardware, medical and health products, scientific and technological products, food and beverage, auxiliary small commodities and so on.
The reporter of shell finance and economics found that melatonin and sleep stickers are popular in sleep products, and the sales volume of many products has reached 100000 +. On short video and e-commerce platforms, sleep related products are sold live almost at any time, and the sales of some products have exceeded 10000.
According to the overview of China's sleep economy industry in 2021 released by toubao Research Institute, the consumption scale of household hardware accounts for about 70% of the overall sleep economy, followed by auxiliary products such as drugs for insomnia and health products to promote users to sleep, with the consumption scale accounting for about 20%.
Enterprise survey data show that there are 56000 "mattress" related enterprises in China. Over the past decade, the registration volume of mattress related enterprises in China has fluctuated. In 2019, 9334 mattress related enterprises were added in China, with a year-on-year increase of 6.6%, which is the year with the largest number of mattress related enterprises in China in recent ten years. In 2020, 5007 new companies were added, with a year-on-year decrease of 46.4%. In 2021, 2632 new companies were added, with a year-on-year decrease of 47.4%. From the perspective of regional distribution, Guangdong Province ranks first with 7700 mattress related enterprises, with 7093 and 5553 mattress related enterprises in Jiangsu and Shandong respectively, followed by Hebei, Henan, Sichuan and other provinces.
In addition to home-based enterprises, shell finance reporters found that listed companies in medicine or food and health care have also made efforts in the field of sleep. Melatonin, which is popular on e-commerce platforms, is mostly produced by large pharmaceutical or health care enterprises. In addition, many listed companies have launched auxiliary sleep products such as steam eye masks.
In several e-commerce platforms, the reporter of shell finance found that the top melatonin brands in terms of sales volume are By-Health Co.Ltd(300146) , Zhejiang Conba Pharmaceutical Co.Ltd(600572) , Renhe, amendment, Beijing Tongrentang Co.Ltd(600085) , gold partner and some imported brands. Many melatonin products sold more than 100000 bottles.
In addition, enterprise survey data show that up to now, there are 12000 patents related to "sleep" in China. In 2021, the number of sleep related patents registered reached a peak, with a total of 2321 newly registered patents, a year-on-year increase of 48.9%. In terms of patent types, among the utility model patents related to "sleep", the most common ones are sleep pillows, sleep hoods, sleep lamps, sleep stickers, sleep goggles, etc.
