A-Share Listed Furniture Companies - Profiles and Financial Data
After 20 years of rapid development, China has become the world's largest furniture manufacturing and export country. It is generally recognized that Pearl River Delta has the most concentrated furniture industry, the highest production value and the best supporting facilities. Fujian, Zhejiang, Jiangsu, Shandong and Shanghai also have advantages in product quality and management. In Yangtze River Delta, which is represented by Shanghai, the furniture industry is developing fast with the highest average growth rate. North China and Northeast China, represented by Beijing, have a solid foundation in the furniture industry and abundant wood resources. In the middle and the west, the furniture industry is seizing opportunities such as urbanization to develop.
According to CRI, improvements in residents' income and housing conditions have made people willing to spend money on furniture and home decorations. They are spending increasingly more on furniture, driving the fast growth of the entire market. In 2015, the retail value of furniture in China was CNY 244.5 billion, increasing by 16.1% YOY. In 2015, there were 5,290 furniture enterprises whose annual sales revenues were above CNY 20 million. They together produced 769.61 million pieces of furniture. In the same year, China exported USD 29.938 billion worth of furniture and imported USD 1.099 billion worth of furniture. The market size of in 2016 was over CNY 600 billion.
The concentration rate of furniture manufacturers is far lower than that of other industries. They are mostly small and medium-sized enterprises. The low concentration rate results in the small number of influential brands. However, after years of competition, a group of brands with considerable sizes and strengths are emerging. The urbanization rate of China reached 56.1% in 2015, increasing by an average of 1% per year. This means that there are 10 million people moving from rural areas to urban areas every year. During the process of urbanization, urban salaried people and new residents in cities who used to reside in rural areas become major consumers of furniture. The competition in the furniture market has become mature. The battleground will no longer be the first and second tier cities but will move to the third and fourth tier cities and rural areas.
More and more Chinese consumers, especially mid to high-end consumers and children's furniture consumers, are practicing new lifestyle concepts, such as "eco-friendly furniture". China's furniture industry is upgrading. During the process of manufacturing, more attention is being paid to environmental protection, health and safety, promoting the sustainable development of the industry.
In this report, CRI analyzes 17 furniture manufacturing enterprises listed in A-share market in China.
The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).
The operation status is demonstrated from the following perspectives: (1) financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.
(1) Financial Indexes
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