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Public company info - Nature Home Holding Co. Ltd. , 02083.HK
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Nature Home Holding Co. Ltd., 02083.HK - Company Profile
Chairman Se Hok Pan
Share Issued (share) 1,378,000,000
Par Currency U.S. Dollar
Par Value 0.001
Industry Furniture & Household Goods
Corporate Profile Business Summary: The principal activities of the Group are the manufacturing and sale of home decoration products and provision of trademarks and distribution network. Performance for the year: The overall revenue increased by 17.4% from approximately RMB2,918,016,000 in last year to approximately RMB3,426,786,000 for the Year. The overall gross profit increased by 3.8% from approximately RMB890,649,000 in last year to approximately RMB924,563,000 for the Year and the overall gross profit margin decreased from 30.5% to 27.0% for the Year. The EBITDA increased by 28.6% from approximately RMB299,047,000 in last year to approximately RMB384,520,000 for the Year and the EBITDA margin increased from 10.2% to 11.2% for the Year. The profit attributable to equity shareholders of the Company was approximately RMB162,120,000 for the Year, compared to the profit of approximately RMB156,785,000 in last year. Business Review 1.Flooring Products During the Year, the overall performance of the Group’s core flooring business was stable, with the total revenue in respect of flooring products of the Group increasing by 11.3% from approximately RMB2,388,340,000 in last year to approximately RMB2,657,593,000 for the Year. Furthermore, total sales volumes of flooring products for the Year was approximately 40,260,000 square meters, remaining stable as compared to the corresponding period of last year. The business of manufacturing and sale of flooring products The Group’s revenue from manufacturing and sale of flooring products increased by 16.6% from approximately RMB2,150,657,000 in last year to approximately RMB2,507,761,000 for the Year, which has benefited from the growth of the project division, the putting into operation of new plastic and engineered flooring plants and the newly-acquired engineered flooring plants in Cambodia. In respect of its flooring sales network, the Group has established an extensive sales network in the PRC and is a major distributor in the PRC of a number of renowned foreign brands of flooring products. During the Year, the Group continued to optimize its sales network and eliminated inefficient stores. As at 31 December 2019, the total number of flooring stores was 3,484 (31 December 2018: 3,583), of which, there were 3,295 ‘‘Nature’’ stores (31 December 2018: 3,401), and 189 foreign imported brand stores (31 December 2018: 182). During the Year, there were seven new flooring plants of the Group. Currently, the Group owns a total of twelve flooring plants, which are mainly engaged in the manufacturing of laminated floorings, engineered floorings and plastic floorings. Provision of trademark and distribution network for flooring products The Group’s flooring products under the ‘‘Nature’’ brand are manufactured by its self-owned production plants and through its exclusive authorised manufacturers. Such authorised manufacturers solely manufacture our branded flooring products and sell these products to the distributors within our distribution network in an exclusive and direct manner, for which we charge them trademark and distribution network usage fees. Due to the business strategy adjustment, reduction in usage fees of certain products and fierce competition in the high-end flooring products market, the revenue generated from trademark and distribution network usage fees decreased by 37.0% from approximately RMB237,683,000 in last year to approximately RMB149,832,000 for the Year. 2.Customised Home Decoration Products The customised home decoration products of the Group mainly comprise of wooden doors, wardrobes and cabinets. Generally, the Group will manufacture the customised products based on the customers’ requirements upon receipt of purchase orders. During the Year, the total revenue generated from the business of customised home decoration products increased by 45.2% from approximately RMB529,676,000 in last year to approximately RMB769,193,000 for the Year. The increase has benefited from the growth of the project division generally. The business of manufacturing and sale of wooden doors The wooden door business of the Group turned from loss into profit last year. With the high popularity of the water-based paint wooden doors launched by the Group in recent years and the rapid growth of the project division during the Year, the total revenue increased by 42.5% from approximately RMB253,649,000 in last year to approximately RMB361,513,000 for the Year. As at 31 December 2019, the number of the Group’s stores for wooden doors was 647 (31 December 2018: 583) in total. The Group currently owns three wooden door production plants. The business of manufacturing and sale of wardrobes and cabinets During the Year, with the rapid growth of the wardrobes and cabinets projects, the total revenue increased by 60.5% from approximately RMB172,976,000 in last year to approximately RMB277,573,000 for the Year. As at 31 December 2019, the Group owned a total of 90 (31 December 2018: 106) wardrobe and cabinet stores. The Group currently owns one production plant for wardrobe and cabinet products and has commenced to construct a new production plant for wardrobe and cabinet products in Taizhou, Jiangsu Province, China. Provision of trademarks and distribution network for customised products The Group has authorised its independent manufacturers to produce ‘‘Nature’’ brand customised products. These authorised manufacturers will directly sell those customised products to the distributors within the distribution network of the Group, with trademark and distribution network usage fees payable to the Group. During the Year, the revenue from the trademark and distribution network usage fees for customised products was approximately RMB4,564,000 (Year 2018: RMB3,790,000). Other sales business During the Year, the sales revenue from other home decoration products (namely comprehensive decoration services and wall paper products) of the Group was approximately RMB125,543,000 (Year 2018: RMB99,261,000). Prospects: In recent years, China’s real estate market has gradually moved into a mature period. With the emergence of a new round of consumption upgrading, the demand for home decoration continues to present a tendency of increase year by year, which has actively accelerated the trend of sustained growth of the household furnishing materials industry in China. In addition, market changes have also significantly intensified, such as new technology development, transparency of Internet information, growing trend of younger customer groups, diversification and personalisation of product demand, and integration of cross-sector products, which have an impact on the traditional marketing channels and modes while to a certain extent also bring numerous opportunities for enterprises with core competitiveness and creativity. The Group believes that products, services and sales channels will be critical to success for the household furnishing materials industry in the future. Therefore, the Group will continue to enhance the Group's core competitiveness in new products launched in recent years, including solid wood underfloor heating floorings manufactured by dry pressing method, solid wood sports floorings, engineered sports floorings and water-based paint wooden doors, while also further improving manufacturing from an intellectual property perspective and enhancing information available to internal management, so as to highlight the Group's advantages on operating efficiency and continuously improve the Group's capabilities on innovation and new product research and development. For domestic sales channels, the proportion of fine-decorated houses developed by major property developers across the major cities in China increased significantly due to the accelerated development of domestic fine-decorated house market. In the coming year, the Group will further improve the ratio of sales to project customers (such as developers of real estate projects as well as engineering contractors), to cope with the market changes and expand the Group's market share. Besides, the Group will also enhance the operation and sales efficiency of the Group's outlets by providing one-stop home decoration services covering design, construction, home decoration and home appliance configuration. For international business, the Group initiated the strategic layout of international production and sales during the Year, which included establishment of a new flooring plant and acquisition of two flooring plants in Cambodia, as well as acquisition of the entire issued share capital of Baltic in late December 2019. Such activities not only enriched the product mix, but also expanded the international business market. In the coming year, with the completion of the Group’s new flooring plant in Cambodia, the Group will fully take advantage of the international layout of production capacity and access to international sales channels, in a bid to seize business opportunities of the globe. During the first quarter of 2020, the novel coronavirus outbreak across the world and certain provinces in China were particularly affected. Adhered to assumption of social responsibility, the Group urgently arranged aldehyde-free floorings inventory from vicinity to donate to Huoshenshan (Fire God Mountain) Hospital in Wuhan and sent personnel to participate in floor laying, with an aim to make contributions to the prevention and control of the epidemic in China. The outbreak of the new coronavirus caused negative impact on the overall consumer market in China. The Group expected that the sales and delivery of products related to most of the Group's projects will therefore be postponed to the second and third quarters. Nevertheless, the Group believe the impact of the new coronavirus is short-lived, and the overall Chinese economy is still on an upward trajectory, and domestic demand for home improvement services and products remains substantial. In response to the rapid impact of the outbreak, the Group has provided immediate and comprehensive support for the transition of dealers from offline to online sales. In addition, the Group has built a good foundation for international business last year and intended to strengthen its overseas sales, therefore, the Group remain cautiously optimistic about the business development in the coming year. The Group’s flagship brand ‘‘Nature’’ has been recognized by consumers as an image of quality and safe products and represents healthy life and environmental protection. Since the starting of the Group's household product strategy of providing integrated green home decoration products, the Group have formed a strategic layout that various green home decoration product brands, including Nature floorings, Nature wooden doors, etc., running together with ‘‘Nature’’ as a leading brand. The steady development over the years has enabled the Group to maintain a strong core competitiveness in the home decoration product market in China, including a wide range of home decoration products, a strong brand image, and a solid sales network foundation, which will help the Group to seize more market share through the launch of competitive products and channel structure adjustment. Despite the difficult environment faced by the home decoration industry in China during the period, the Group still achieved steady growth in the overall business, among which the sales of wooden doors and kitchen closets recorded satisfactory growth. Therefore, in the coming year, in addition to maintaining the Group's leading position in flooring market, the Group will strengthen the development of these customised home decoration products with the goal of sustained and rapid growth, expand the categories of products, develop and launch new products for gaining market share, in order to create more values for shareholders.

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