What do home companies want to get together?

On April 18, the China Securities Regulatory Commission issued the list of pre-disclosed enterprises for the first time. This is the first time that companies have disclosed pre-disclosure since October 25, 2012. From April 18 to April 22, the Securities Regulatory Commission issued a number of IPO companies' prospectuses, including household appliances such as Sichuan Imperial Sanitary Ware and Jiangsu Yazhen Furniture. What does the IPO mean for many home companies that have been through a difficult year in 2013?

The industry environment is not optimistic. According to the "Issuance Supervision Department's Initial Public Offering Stock Review Work Process and Reporting Enterprise Situation" published by the China Securities Regulatory Commission on April 18th, the Red Star Meikailong Furniture Group, Op Lighting, Gujia Household, and Jiangsu Hengkang Household Science and Technology Division In the "accepted" stage, Zhejiang Yongyi Furniture, Guangzhou Luckyboy Creative Home, Hunan Love Home Textiles, and Three Tree Paints are in the "Feedback" stage.

There is a certain time lag between companies making a listing plan and a real IPO. In today's environment of the environment and home industry, it seems that it is not the best time for home companies to go public. However, in the critical period of the home industry's restructuring, the ** gained after a successful IPO clearly represents an opportunity for these home-based companies.

According to the 2013 financial report released by Royal Family and JF Home, both companies’ revenues declined last year. The royal family's revenue fell 6.6% year-on-year, and JF home income fell 34.4% year-on-year; the royal family’s net loss was 456 million. In Hong Kong dollar, although the loss of JF Home has been narrowed, it still accounts for a loss of HK$27 million.

While the operating income of the leading domestic sheet metal manufacturer, Dehua Bunny Decoration New Materials Co., Ltd., increased by 10.84% ​​to 1.242 billion yuan last year, its net profit dropped by 27.8% compared to the same period last year to 0.24 billion yuan.

It is undeniable that the pace of development of the home industry has slowed down in the past two years. However, from the annual report of home companies in 2013, the growth of performance is the majority. The revenue and net profit of companies such as Sofia, Xilinmen and Nature Flooring There are different growth rates. Among them, Sofia's annual performance was magnificent. In 2013, Sofia achieved revenue of 1.78 billion yuan, a year-on-year increase of 46.0%, and a net profit of 245 million yuan, an increase of 41.4%.

In particular, on February 19, the first shareholder of Yixing Yi Shengsheng was listed on the Shenzhen Stock Exchange. Dongyin Risheng went public and closed with a 44% increase on the first day. The myth of “unbeaten new shares” was continued, which virtually gave Later colleagues were more inspired.

“Before this, there were a lot of companies that maintained a growth rate of 30% to 50% each year. Today, home companies that can achieve growth of more than 30% have been considered very good.” said Zhong Haizhou, Assistant Director of the Board of Directors of the Federation Furniture Group. Today, there is no special business breakthrough for home-based enterprises above designated size. The annual growth rate is basically the same as the growth level of China's GDP.

Gathered or listed to break through the home companies have rushed together to rush to listing, whether it can be listed, listing how the situation remains to be tested. As Chen Hui said on the first day of the listing of Dongyi-Sunshine, “In fact, the capital market is always fluctuating and constantly changing. It is difficult to say what will happen in the future.”

According to the Red Star Meikailong Furniture Group Co., Ltd. prospectus (applicant draft), Red Star Macalline intends to list on the Shanghai Stock Exchange, the total number of shares issued this time does not exceed 100,000 shares, of which the number of new shares issued does not exceed 530 million shares; shareholders The number of public offering shares does not exceed 50,000 shares, and the total share capital after the issue does not exceed 353 million shares.

The prospectus shows that Red Star Macalon intends to raise funds of approximately 4.45 billion yuan for 11 projects including household life plaza projects and e-commerce platform construction projects in Wuhan, Chongqing, Tianjin, Shenyang, etc. The total investment of the 11 projects About 6.11 billion yuan.

Among them, the most invested capital is the Wuhan Hongxing Meikailong Expo Home Plaza project. The total investment of this project is about 1.2 billion yuan. The capital raised for this issue is about 868 million yuan.

According to the Much Love Home Textiles Co., Ltd. prospectus (applicant draft), Much Love Home Textile intends to be listed on the SME Board of the Shenzhen Stock Exchange. The total amount of public offerings will not exceed 30 million shares, which is no less than 25% of the total issued share capital; The number of new shares to be issued shall not exceed 30 million shares, and it is expected that the number of shareholders’ public offerings will not exceed 22.5 million shares.

It is understood that more than about 280 million yuan is intended to raise funds, mainly for marketing network expansion projects, information construction projects and additional working capital. Among them, about 170 million yuan was used for marketing network expansion.

Expanding production capacity, branding, and channel construction have become the main uses of funds raised by these home-grown ready-to-list companies. Zhong Haizhou stated that the entry of capital will speed up the restructuring of the home industry, and home companies will be able to reflect this change. “The home companies need a lot of financial support to become bigger and stronger. After all, the capital of the banking channel is limited, and after listing, there is no doubt. It can provide sufficient sources of funds for the expansion of these home furnishing companies. Now the reconstruction of the home furnishing industry is very different from the previous domestic home industry reshuffling. In the past, the home furnishing industry will also occasionally produce partial shuffles and eliminate them from time to time. After some enterprises with poor performance, another group of companies will be created. With the inflow of external capital, the reshuffle of the home industry will be expulsive, and the market share will be gathered to large enterprises."