OLO Home: Net profit is expected to increase by 40.00%-50.00%

Jan 15,2021

Furniture industry has been pushed to a new level of consumption as a result of the epidemic, and OLO was expected to make over 200 million yuan in profit last year.

On the evening of January 14, OLO Home released the annual performance forecast for 2020, the net profit attributable to the shareholders of the listed company was about 216 million yuan to 231 million yuan, a year-on-year growth of 40% to 50%.

Relevant people in OLO Home told that they have achieved breakthroughs in performance under the epidemic. The company’s main products, customized wardrobes and cabinets, have achieved differet degrees of growth in the three channels of franchisees, direct stores and bulk business.

The Southwest Securities Research Report shows that since 2020, the domestic real estate hardcover rate has been increasing. The hardcover market is expected to continue to expand. This year, various capitals have entered the B-end business, and industry competition has intensified.

In this regard, Wang Chunjun, general manager of OLO Home, told the Financial Association that in addition to vigorously developing the customized wardrobe business, they have seen the rising demand for refined decoration houses since 2020, and they have begun to increase the order of large cabinets.

The announcement stated that the main reason for the anticipated performance increase in this period is that the company actively embraces changes, insists on focusing on mid-to-high-end brand positioning, insists on organizational change and innovation, adjusts marketing strategies in a timely manner, and continues to make efforts in product strength, brand strength, and channel capacity building. The company continued to strengthen channel construction and layout optimization; the distribution business achieved steady growth, the direct business grew rapidly; the bulk business grew rapidly, which led to a substantial increase in the company's overall profit.

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