Yesterday, China Home announced its 2013 interim results report, in the first half of the year, China's home sales surged from HK$0.05 billion in the same period last year to approximately HK$418 million, of which net profit attributable to shareholders of listed companies was RMB78 million. The Hong Kong dollar increased by 252% year-on-year. This is also the first semi-annual profit after the rebranding of Chinese home.
China Household said that such a large-scale performance growth in the first half of the year was mainly due to the development of the company's new business, the wooden furniture trading business. The financial report shows that the new wooden furniture trading business contributed rich sales to China Home, with sales revenue of 413 million Hong Kong dollars, accounting for nearly 99% of the total performance.
The beautiful financial report of China Home for the first half of the year is inseparable from the previous business adjustment strategies and a series of intensive acquisitions around business adjustments.
In 2012, Baoyuan Holdings (now changed to “China Homeâ€) has a total revenue of HK$17 million, a 33% decrease from the previous year and a net loss of HK$16 million. Its main business textiles, mining industry and fashion design are all caught in A downturn.
According to the financial report, in 2012, Baoyuan Holdings' textile orders from the United States fell sharply, down 73% from the previous year. The fashion design business and the mining business all suffered losses, and their main business was in a difficult situation of losing hope and losing growth.
The management of Baoyuan Holdings stated in its 2012 annual report that it has sought new investment opportunities by entering China's full-scale home improvement business.
In September 2012, Baoyuan Holdings acquired Keweixun Technology and proposed a smart home solution; in October 2012, Baoyuan Holdings acquired 100% equity of Zhongshan Punadu, and will integrate home and smart home integration and begin to lay out high-end wisdom. Home market.
Previously, Baoyuan Holdings was principally engaged in the sale of fabrics, garments and other related accessories in Hong Kong, the United States and the PRC, engaged in iron and titanium exploration and development and mining, securities investment, fashion business, money lending business, and provision of information and technical services and sales in China. Related Products.
On February 7 this year, Baoyuan Holdings Co., Ltd. (referred to as “Baoyuan Holdingsâ€) was renamed as China Furniture Holdings Co., Ltd. (referred to as “China Homeâ€), and its home business began to become its main business. A major strategic transformation of the home business.
Its furniture business mainly includes furniture sales and provision of interior design services. After that, China Home launched a series of intensive acquisitions around the main business, vigorously expanding product lines and sales channels, and accelerating the development of the main business.
On May 13 this year, China Home acquired 100% of HK$100 million Kassade Investment Limited, a company mainly engaged in the manufacture of wooden floors, wooden frames and other wooden household products.
China Home said that the newly-built wooden furniture trade network will become the company's most important source of revenue and core operating profit.
On August 7, China Home acquired 480 million Hong Kong dollars to acquire the entire issued share capital of Weijie International Co., Ltd., which provides platform for the sale of simulated interior design and electronic home products, to build a sales platform for household products; on July 26, Chinese furniture was 3.8 HK$100 million to acquire 100% of the issued share capital of Polar Sunshine Wood Holdings Company Limited, a subsidiary of the company, which is engaged in the sale and purchase of basic products of hot wooden household products and hot wooden household products, to expand new products.
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