OLO Home recently released the 2020 semi-annual report. In the first half of 2020, the company achieved operating income of 538.26 million yuan, a year-on-year increase of 2.29%; net profit attributable to shareholders of listed companies was 47.357 million yuan, a year-on-year increase of 3.80%. At the end of the reporting period, the company's total assets were RMB 16.211,500, an increase of 3.99% from the end of the previous year; the net assets attributable to shareholders of the listed company were RMB 9,411,600, a decrease of 1.10% from the end of the previous year.

OLO Home  focuses on the design, research and development, production, sales and related services of overall kitchen cabinets and whole house custom furniture products.

It is understood that during the reporting period, operating income increased by 2.29% year-on-year, mainly due to the impact of the new crown epidemic. Consumer demand for customized furniture has been lagging, and the resumption of work by some distributors has been delayed. At the same time, the company has increased its support for distributors. Distribution business revenue in the first half of the year decreased by 18.66% year-on-year; the company continued to strengthen the construction of direct sales channels, direct sales business increased by 13.91% year-on-year, bulk business increased by 84.04% year-on-year, under the combined influence of the above factors, operating revenue rose 2.29% from a year earlier.

Operating costs are mainly due to the impact of the new crown epidemic. Factory output has decreased compared with the same period last year. However, rigid expenses such as equipment, plant depreciation, and fixed salary have led to an increase in production costs, resulting in an increase of 8.29% in operating costs over the same period last year.

Among them, the distribution business revenue in the first half of the year was affected by the epidemic, down 18.66% year-on-year, and the company still has dealer management risks. Industry practitioners analyze that the sales model of OLO Home is based on the distribution model, helping dealers improve storefront, management and operating efficiency in terms of store image design, product upgrades, and customer service. However, if individual distributors fail to comply with the company's management system or fail to complete the agreed performance targets, or no longer cooperate with the company due to their own reasons, it may adversely affect the company's brand reputation or business performance.