On the evening of April 21, Jason Furniture (Hangzhou) Co.Ltd(603816) ( Jason Furniture (Hangzhou) Co.Ltd(603816) ) announced the 2021 annual report. The company gives full play to the leading advantages of the industry and realizes the substantial growth of business performance. During the reporting period, the company achieved an operating revenue of 18.342 billion yuan, a year-on-year increase of 44.81%; The net profit attributable to the parent company was 1.664 billion yuan, a year-on-year increase of 96.87%. While maintaining steady development, the company pays attention to shareholder feedback. The company plans to increase 3 shares for every 10 shares and distribute a cash dividend of RMB 13.20 (including tax).
high potential categories grew strongly and the integration of the whole house became a new engine
The company adheres to the transformation to retail, from “channel operator” to “comprehensive home retail operator” with multiple brands, all categories and all channels. The company continues to improve the competitiveness of individual products. At the same time, it promotes the integration of categories, promotes the integration of “customization + soft furniture”, and provides users with high-quality one-stop home solutions.
During the reporting period, the whole category of the company went hand in hand, driving the rapid growth of revenue volume. The sofa business maintains its core position, the proportion of mattress business continues to increase, and the customized home business is growing rapidly. The annual report shows that in 2021, the company’s sofa business revenue was 9.267 billion yuan, a year-on-year increase of 44.51%; The business income of bed products was 3.338 billion yuan, a year-on-year increase of 42.75%; The business income of integrated products was 3.14 billion yuan, a year-on-year increase of 41.13%; The revenue of customized business was 660 million yuan, a year-on-year increase of 44.8%.
The company adheres to the product research and development of multiple spaces and all categories, and changes from single products to whole room space (sofa + BED + customization + supporting facilities, etc.), constantly providing customers with high value-added products. Taking the big store as the carrier, we promote the customized + software integration package, focus on the commodity matrix of “family +”, change from sales service consultant to design consultant service, integrate sales and design, and are committed to providing customers with whole house soft decoration solutions with high appearance value and high cost performance.
From the perspective of product R & D and design, during the reporting period, the company successively released new products such as Sifu, Champs Elysees, Huishang, clothes dryer, environmental protection No. 7 5 core board, Sui series deep sleep mattress and Asian Games dream mattress based on new design, new materials and new functions, so as to maintain rapid iteration of product portfolio. Through the comprehensive introduction of IPD management mode and concept, the company’s product R & D has shifted to technology driven product innovation and product development efficiency improvement, forming a R & D structure of three structures: technology research layout, product design innovation and integrated product development management. The annual report shows that the company’s R & D investment in 2021 reached 302 million yuan, a year-on-year increase of 46.27%.
digital marketing has achieved remarkable results, brand renewal and strengthened positioning
The company has achieved remarkable results in improving marketing efficiency with digital empowerment. During the reporting period, the company released brand renewal, upgraded its brand positioning from “traditional family emotion” to “modern family concept”, and launched the brand slogan “yearning for life at home” under the new values. The company set up the digital precision drainage project group, launched several marketing campaigns and events dissemination, innovating the material, landing page, and optimizing the tiktok, WeChat, Xiaohong, micro-blog and other mainstream online platforms to produce deep and high-quality experience content.
By promoting the online business, the company realizes the end-to-end of users, end-to-end of products and end-to-end delivery, so that the enterprise’s information chain can gradually evolve into a digital network of the industrial chain, and greatly improve consumers’ purchase, use and service experience. Since 2018, focusing on the transformation to retail, the company has built store retail distribution system and user operation system to help terminals conduct marketing analysis and user touch, so as to improve the operation efficiency of stores. In the company’s “August 16 family care day” activity in 2021, the public domain has been exposed for more than 850 million times, with 200000 + customers and 166000 + customers in private domain.
The company said that there is a broad space for the improvement of market concentration in the future. Under this trend, the market share is accelerating to concentrate on competitive top enterprises. The company firmly believes that the next decade is the best decade for the home industry and the era of leading brands.
