OPPEIN(603833) 长江商报·2025-04-28 00:26Core Viewpoint - Oppein Home's revenue and net profit have declined for the first time in 2024, with decreases of 16.93% and 14.38% respectively, reflecting the challenges faced by the home furnishing industry amid a downturn in the real estate market [1][7]. Company Performance - In 2024, Oppein Home reported a revenue of approximately 189 billion yuan and a net profit of about 26 billion yuan, marking the first decline in both metrics since its establishment [7][8]. - The company opened 1,085 new stores but closed 2,058, resulting in a total of 7,813 stores by the end of 2024 [8]. Strategic Shift - To navigate the challenges, the company has shifted its strategic focus towards old house renovations and integrated home solutions, aiming to tap into the 1.5 to 2 trillion yuan market for existing homes [8]. - The CEO, Yao Liang Song, emphasized the need for a "whole home" approach, stating that without this transformation, there would be no future for the company [8]. Dividend Policy - Despite the downturn, Oppein Home announced a substantial dividend plan for 2024, proposing a total payout of 15.02 billion yuan, which represents 57.8% of its net profit [8][9]. - Over the past two years, Yao Liang Song, as the largest shareholder, has received a total of 21 billion yuan in dividends [9].