In the face of thousands of announcements from listed companies every day, what should I read? Announcements of important matters are often tens of pages or hundreds of pages, what is the point? I don't know if a bunch of jargon in the announcement is good or bad? Please take a look at the “Speed Reading Notice” section of the press department of the Financial Association. Our national reporters will bring you an accurate, fast, and professional interpretation on the night of the announcement.

Financial Services Association, August 21 (Reporter Luo Yichen) The downward pressure on household consumption has not abated, and the performance of industry leader Gujia Home (603816.SH) did not improve significantly after changing hands. In the first half of the year, the company's performance growth stagnated. Revenue remained flat year on year, net profit to mother decreased by 2.97% year on year, and Q2 performance declined markedly.

Gujia Home revealed its semi-annual results report tonight. In the first half of this year, the company achieved revenue of 8.908 billion yuan, an increase of only 0.34% year on year; net profit to mother was 0.896 billion yuan, down 2.97% year on year. On a quarterly basis, the company's revenue and net profit to mother maintained positive year-on-year growth in the first quarter, but in the second quarter, performance declined year-on-year. Single-quarter revenue and net profit to mother decreased by 7.44% and 9.07%, respectively.

The market's expectations for Gujia Home Furnishing's performance this year are not low. Previously, many brokerage firms predicted that the company's annual revenue and net profit to mother would both increase by more than 11% year-on-year. Judging from the performance of the first half of the year alone, to meet market expectations, Gujia Home Furnishing's operating pressure in the second half of the year should not be underestimated.

In the semi-annual report, the company mentioned that it is accelerating the transformation from software to the whole family. “The expansion of customized stores has further maintained medium- to high-speed growth, and the speed of opening integrated stores has further accelerated, and the overall package sales in integrated stores account for more than 35%.” With regard to the entire business, Gujia Home Furnishing's strategy is to lift high and lower. The company said that the launch of the “698 Package” in the first half of the year had a good market response. According to reports, the so-called “698 package” refers to the 698 yuan/㎡ wardrobe package and the 698 yuan/㎡ cabinet package. It is the main product of the company's “Huimin Renovation Project” and was launched in response to the country's call to promote household consumption.

At the end of last year, Gujia Home changed hands, and the market expects the “Beauty Department” to add new momentum to the company's development after entering the market. However, judging from the performance in the first half of the year, in the background of declining household consumption, the company took the initiative to launch low price packages to adapt to this “internal rolling” competition, and did not show more differentiated competitive advantages.

At the end of 2023, He Jianfeng, son of He Xiangjian, the actual controller of Midea Group, originally planned to transfer 29.42% of Gu Family's shares for 10.299 billion yuan to replace the Gu Jiangsheng family as actual controllers of the listed company. Soon after, the scale of this largest share acquisition in the home furnishing industry shrank, and He Jianfeng finally successfully joined the market for 8.88 billion yuan. Since this year, along with the decline in Gujia Home Furnishing's stock price, He Jianfeng has received media attention due to trading losses. Compared with the original transfer price of 36.7,187 yuan/share, Gujia Home Furnishing's stock price has now fallen to 25.10 yuan/share, and the trading book loss has exceeded 31%.