OPPEIN(603833) 每日经济新闻·2025-04-26 10:35Core Viewpoint - The custom home furnishing industry, including leading companies like Oppein Home, faced significant revenue and profit declines in 2023, but there are signs of recovery due to policy support and evolving consumer demands [1][2][3]. Group 1: Financial Performance - Oppein Home reported a revenue of 18.9 billion yuan and a net profit of 2.6 billion yuan for 2023, representing declines of 16.93% and 14.38% year-on-year, respectively [1][2]. - The company experienced its first dual decline in revenue and profit in 30 years due to market demand contraction and industry restructuring [2]. - Despite the declines, Oppein Home improved its gross margin to 35.91%, up 1.76 percentage points year-on-year, and its net profit margin to 13.76%, up 0.48 percentage points [2]. Group 2: Industry Trends - The custom home furnishing industry is undergoing a significant transformation, with a shift from standardized products to personalized solutions, driven by changing consumer preferences [4][5]. - The market structure remains dominated by new and existing housing, with a forecasted "442" market structure (new homes 40%, existing homes 40%, second-hand homes 20%) indicating ongoing pressure on both engineering and retail channels [2][3]. Group 3: Strategic Initiatives - Oppein Home is implementing supply chain reforms and automation upgrades to reduce operating costs, which have decreased by 19.15% to 12.128 billion yuan in 2023 [2]. - The company aims to transition from a "full-category home manufacturer" to a "full-scenario ecological service provider," emphasizing digital technology to enhance consumer experiences [4][5]. - Oppein Home has launched a new brand IP "Love Home Season" to support its strategy as an ecological service provider while maintaining clear boundaries in its role within the industry [5].