On March 21, World Sleep Day, topics such as “Beware of these sleep misunderstandings” and “Insomnia self-help guides are here” caused heated discussions on social media. The Beijing News Shell Finance reporter found that on Weibo, the topic “Insomnia” has reached 500 million views. And insomnia is giving birth to a 100 billion-level market.
iiMedia Research’s 2021 China Sleep Economy Industry Research Report shows that my country’s sleep economy has entered a rapid development in recent years. From 2016 to 2020, China’s sleep economy as a whole The market size has grown from 261.63 billion yuan to 377.86 billion yuan, an increase of 44.42%.
From the perspective of listed companies, leading home furnishing companies involving the concept of sleep economy, such as Xilinmen, Gujia Home Furnishing, and Menglily, have released their 2021 annual performance reports. Xilinmen and Gujia Home Furnishings have pre-increased, with a minimum pre-increase of 500 million yuan and 1.6 billion yuan respectively. However, Menglily is expected to lose 240 million yuan to 300 million yuan, which will decrease by 619 million yuan to 679 million yuan compared with the same period of the previous year, a decrease of 163%-179% year-on-year.
Multiple Home Furnishing Businesses2021Annual Growth Forecast
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Mouse shares, Fun Sleep TechnologyIPOstillin On the road
“One third of one’s life is spent in bed.” A common saying in the announcement of Mousse shares, It pointed out the importance of mattresses for sleep, and also showed the rigid demand for sleep products such as mattresses in the market.
Among various sleep aid products, mattresses and other household products constitute the most prominent part of the sleep economy, and corresponding household enterprises have become an important part of the sleep economy. Economic entities.
Shell Finance reporters found that leading home furnishing companies involving the concept of sleep economy, such as Xilinmen, Gujia Home Furnishing, and Menglily, have released their 2021 annual performance reports.
The announcement of the pre-increase in performance of Xilinmen shows that the net profit attributable to shareholders of the listed company is expected to be RMB 550 million to 560 million in 2021, which is expected to increase 237 million yuan to 247 million yuan, a year-on-year increase of 75.49% to 78.68%.
The company expects to achieve a net profit of RMB 495 million to 505 million attributable to shareholders of the listed company after deducting non-recurring gains and losses in 2021, which is expected to increase 182 million to 192 million yuan, a year-on-year increase of 57.95% to 61.14%.
Gujia Home Furnishing’s performance pre-increase announcement shows that it is expected that the net profit attributable to shareholders of listed companies will be RMB 1.65 billion to 1.73 billion in 2021, a year-on-year increase of 1.65 billion yuan. An increase of 95% to 105%. The company expects to achieve a net profit of RMB 1.42 billion to 1.5 billion attributable to shareholders of listed companies in 2021, a year-on-year increase of 140% to 154%.
On January 28, Menglily released a performance pre-loss announcement, and it is expected that the net profit attributable to shareholders of listed companies in 2021 will be a loss of 240 million yuan -3 100 million yuan, compared with the same period of the previous year, it will decrease by 619 million yuan to 679 million yuan, a year-on-year decrease of 163%-179%. After deducting non-recurring profit and loss matters, the company’s performance is expected to decrease by 506 million yuan to 566 million yuan, a year-on-year decrease of 145%-162%.
Meng Lily pointed out that the main reason for the expected loss in this period is that the price of raw materials, labor costs and overseas transportation costs have all risen sharply, resulting in a decline in product gross profit margins ; Global trade protection measures have surged, and trade frictions between major economies have continued to negatively affect production and sales; the company’s factories in the east and west of the United States are in a period of ramping up production capacity, and the production progress of the factories is less than expected due to the epidemic, which is a loss state, etc. .
Previously, Shell Finance reporters sorted out the financial situation of 8 home furnishing companies in the sleep field, including Xilinmen, Gujia Home Furnishing, Menglily, Mercury Home Textiles, Mengjie, Fuanna, Mousse, and Fun Sleep Technology, and found that the annual operating income is mostly dozens of billions of dollars. Among them, Gujia Home Furnishing has a higher income scale, and its operating income in 2020 is about 12.6 billion yuan.
In terms of sales channels, listed home furnishing companies mostly use the dealer model. Offline traditional distribution channels have shifted to e-commerce channels. However, due to problems in the pre-sales experience, transportation, and after-sales of household products, most companies still rely on offline channels.
In terms of channels, Fun Sleep Technology, which plans to be listed on the Growth Enterprise Market, is relatively special. It mainly adopts the asset-light business model of “outsourced production + Internet sales”. The revenue also mainly comes from online sales. According to the prospectus, from January to June 2021, the sales volume of Quslee Technology mattress products was 101 million yuan, with a gross profit margin of 34.16%, and the offline sales amount was only 816,100 yuan, with a gross profit margin of 32.10%. The gross profit margin of online sales of other categories of products is above 30%, and most of the gross profit margins are higher than offline sales.
With the intensification of domestic competition and the impact of international brands, the home furnishing industry is currently facing the risk of declining profit margins. Both Mousse and Xilinmen have indicated in their public information that the intensification of market competition may lead to a decline in the average profit margin of the industry.
In the second half of 2021, Deuce and Funsleep Technology in the sleep economy field will update their prospectus and apply for listing. On November 12 last year, Rousseau submitted the prospectus for the second time to improve the relevant feedback issues previously raised by the regulatory authorities. According to the prospectus of Mousse shares, it is mainly engaged in the research and development, production and sales of healthy sleep systems, and its main products include mid-to-high-end mattresses, bed frames, bedding and other products.
On March 21 this year, the reporter inquired on the official website of the China Securities Regulatory Commission and found that the IPO information of Mousse shares was still in the status of review and feedback on October 29.
Interesting Sleep Technology will have a meeting on the Growth Enterprise Market in July 2021. According to the official website of the China Securities Regulatory Commission, it will raise a second inquiry on the registration stage on January 29 this year.
According to the prospectus, the company’s main business is easy-to-install furniture, home textiles and other household products. At the same time, it is also disclosed that all products of the company are outsourced. Shunwei Investment and Tianjin Jinmi Investment, the related parties of Xiaomi Group, are the issuers, and the company uses the Xiaomi e-commerce platform as the main sales channel.< /p>
The main questions are, whether the positioning and description of the company’s main business is true and accurate; whether the company has sales, promotion, and rebates on the Xiaomi platform. Special treatment or preferential treatment. Compare and analyze whether there are differences in the company’s sales policies on major e-commerce sales platforms, and if so, analyze whether the company relies on Xiaomi, whether there is a transfer of benefits, and whether the main business is stable and sustainable.
Sleep-related patent registrations peak in 2021
Best-selling melatonin is mostly produced by large pharmaceutical or healthcare companies
Among the many eye-catching publicity , sleep products extend from traditional household hardware to technological instruments, from prescription drugs to health care products and food such as melatonin.
Enterprises engaged in sleep business, also Launch various sleep aid products that act on the human senses, such as essential oil “aromatherapy” that acts on the sense of smell, steam eye masks for eye soothing, noise-cancelling earplugs that block sound, and hardware or software that plays white noise. In addition, sleep spray , sleep cream, sleep paste and other new products are also coming out. All in all, sleep products have penetrated into many fields such as home hardware, medical and health products, technology products, food and beverages, auxiliary commodities, etc., and the product categories can be described as rich.
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A reporter from Shell Finance found that melatonin and sleep stickers are more popular among sleep products, and the sales volume of various products has reached 100,000+. On short video and e-commerce platforms , sleep-related products are being sold live almost at any time, and some products have sold more than 10,000 pieces.
The 2021 China Sleep Economy Industry Overview released by the Head Leopard Research Institute It shows that the consumption scale of household hardware accounts for about 70% of the overall sleep economy, followed by auxiliary products such as drugs for insomnia and health care products that promote users to fall asleep, accounting for about 20% of the consumption scale.
Enterprise survey data shows that there are 56,000 “mattress”-related enterprises in China. In the past ten years, the registration volume of mattress-related enterprises in China has fluctuated and changed. In 2019, China There were 9,334 new mattress-related enterprises, a year-on-year increase of 6.6%, which is the largest number of newly-added mattress-related enterprises in China in the past ten years. year. In 2020, 5,007 new stores were added, a year-on-year decrease of 46.4%. In 2021, 2,632 new stores will be added, a year-on-year decrease of 47.4%. From the perspective of regional distribution, Guangdong Province ranks first with 7,700 mattress-related companies, followed by Jiangsu and Shandong with 7,093 and 5,553 mattress-related companies, followed by Hebei, Henan, Sichuan and other provinces.
In addition to home furnishing companies, Shell Finance reporters have combed and found that listed companies in medicine or food and health care are also making efforts in the field of sleep. Most of the melatonin sold on e-commerce platforms is produced by large pharmaceutical or health care companies. In addition, many listed companies have launched sleep aids such as steam eye masks.
On several e-commerce platforms, Shell Finance reporters found that the top-selling melatonin brands are Tomson By-Health, Kangenbei, Renhe , Correction, Tongrentang, Golden Partner and some imported brands. Many of these melatonin products have sold over 100,000 bottles.
In addition, according to the company’s data, as of now, there are 12,000 patents related to “sleep” in my country. In 2021, the number of sleep-related patent registrations will peak, with a total of 2,321 newly registered patents, a year-on-year increase of 48.9%. From the perspective of patent types, among the utility model patents related to “sleep”, the most common ones are sleep pillows, sleep headgear, sleep lamps, sleep stickers, sleep goggles, etc., which can be described as varied.
Beijing News reporter Xi Lili editor Chen Li proofreading Liu Baoqing