Author 丨 Wang Di
Produced 丨 Focus Finance
On the one hand, the real estate downturn insurance housing enterprises dragged down the home improvement enterprises, resulting in a number of home improvement performance pre-loss. On the other hand, real estate companies break through business barriers and hope to find new breakthroughs in the downstream industrial chain such as home improvement.
The upstream and downstream industries that were originally "like glue like paint" were "rolled" together in this way, "falling in love" and "killing each other". In the competition between attack and defense, reciprocity and anti-phagocytosis, a big drama is being staged.
Shell to find a house, Gome dress home and other enterprises in the home, home improvement of the action, but also means the new track war rapid upgrade.
Recently, Focus Finance learned that Shell housing announced a new round of organizational structure adjustment and personnel appointment, appointed Zheng Shenzhen as the head of the strategic management and investment center of the whole home, and directly reported to Peng Yongdong, chairman and CEO of Shell. At the same time, just a few years ago, Yan Weiyang, the founder and chairman of Shengdu, was appointed as the head of the new home improvement line business, and He Shengxiang, who had previously served as the head of the central theater of Shell Housing and the head of the eastern theater, was appointed as the head of the new home line business.
A number of executives are lined up in the field of home improvement at home, which seems to have the flavor of "Tianji horse racing". Another insider said that different executives are responsible for different segments of the business, and business development is more focused. In May last year, Focus Finance exclusively reported that Zhang Haiming was appointed as the general manager of Shell Home, becoming the new person in charge of the sector. However, in less than a year, the new helmsman took office.
In addition, in terms of organizational structure, in November last year, the Shell Decoration Large Home Business Group was established, and the Strategic Management and Investment Center of the Whole Decoration Large Home was set up, which was responsible for the strategy, strategic management and promotion of the whole decoration large home business group, led the key projects within the business group and across the business group, and laid out strategic investment. From the merger of Wanchain, the launch of its own brand "Quilt Home Decoration", the acquisition of the leading home improvement enterprise Shengdu, and then to the adjustment of personnel and organizational structure... It heralds the beginning of new changes, and also shows the idea of shell looking for a house and wanting to explore the new territory of enlarging the home and home improvement.
In fact, since the death of Zuo Hui, the founder of Shell House, Peng Yongdong, while continuing the established development route of Shell House, has likened Shell to enter the home improvement market, likening it to "crossing the second mountain".
"At present, the home and home improvement fields are high competition, there is no profit margin, it is not so easy to get, and the competition is large." However, the previous profit requirements of the old peers were high, and if the new entrants simplified the process, they could save costs and make profits. In addition, if you can help the owner install it through fine decoration before selling, it will also improve the efficiency of house sales. However, home and home improvement are also facing a variety of industry diseases such as information asymmetry and quality chaos, and it is still unknown whether laymen can really break the situation. A senior real estate industry insider said in an interview with Focus Finance.
A chain home intermediary agent once told Focus Finance that the nest home decoration can realize the integration of design, decoration and customization, and the owner does not need to keep an eye on the scene, and can realize "cloud monitoring" through real-time camera monitoring, solving the problem that modern people are busy with work and have no time to stare at decoration. In addition, if the chain home promotes "nest home improvement" in the process of participating in the second-hand housing transaction link, it can invisibly intercept home improvement customers, further shortening the time of transaction and home improvement, and improving efficiency.
Shell's monthly active volume of 50 million users looking for a house and the market share of second-hand houses and new houses in the chain seem to be its "killer skill" for obtaining home and home improvement users, and technology-enabled construction is also another aspect of its innovation.
It is understood that Zheng Shenzhen, who was newly appointed as the head of the strategic management and investment center of the whole home, once served as the general manager of the operation of the Shell Housing Business Department, and he also publicly stated that the new era of 5G will open up the vr of the whole people, which may pave the way for the Shell to find a house and make home improvement VR.
For the technology subversion of home improvement, another intruder, Gome "Dress Up Home", seems to be a fan of this innovation.
From Huang Guangyu personally discussing and finalizing the acquisition of the home to the official release of gome's "dress up home" APP in April last year, Gome's love for the home improvement and home furnishing industry can be seen.
In order to achieve the "what you see is what you get" at the user end, Gome's "dress up home" is grafted with upstream factory resources, material supply resources and decoration construction resources. Once the designer's design plan is presented through the BIM system, it can be linked with the construction drawings and synchronously present the relevant quotations of materials and construction.
It seems that all the game breakers want to subvert the new rules of the game in the traditional industry through technological innovation. Gome's approach is to integrate Gome's supply chain resources, hoping to build a closed loop at the end of delivery and create a precedent for segmented decoration in the field of home improvement.
In addition, in terms of talent layout, in November last year, Gome Dresser launched the "Design Noncommissioned Officer Student" plan, focusing on the core element of home improvement - designers, hoping to strengthen the design strength reserve of the platform. It is understood that the "dress up home" almost does not set a threshold to attract designers, material suppliers, construction service providers and other partners to settle in, and quickly form a team of designers with a scale of more than 4,000.
Some people say that the market volume of the home improvement track is 1.5 trillion yuan, and the market volume of the home improvement track is also 1.5 trillion yuan, and the total volume of the two can reach 3 trillion yuan, which is a blue ocean market with great excavation space. From the perspective of consumption, home decoration and home furnishing are one, when the user completes the home decoration, there is naturally a need to buy a home.
The advantage of shell is the homeopathic introduction of upstream customers, while "dressing up" has an absolute advantage in electrical appliances and retail.
In addition, under the pressure of real estate shrinking and incremental pressure, the decline in profitability of real estate is an inevitable trend, so many housing companies are looking for a "second curve".
As early as 2020, Country Garden, Evergrande, Baoneng, Longhu and other housing enterprises have entered the home furnishing market, and Country Garden has also successively invested in many home furnishing companies such as Diou Home furnishing and Mona Lisa. The "sweeping goods" layout means that housing enterprises have seen the profit space of downstream industries. However, with the continuous thunderstorm of housing enterprises, the news of deep cultivation and expansion of the field of home and home improvement seems to be gradually silent. More housing enterprises are taking the home and home improvement fields as a branch of the business scope.
In 2021, Longhu will upgrade the rental and sale of houses and house decoration to the main waterway business, and set up a new life service brand representing house rental and sale and house decoration - "Gannet". In fact, in today's market war, "survival" is the king, 2022 is facing a life and death battle, many housing companies should deal with successive bond defaults, only the development of steady housing enterprises have the energy to deepen new areas. After all, the current priority of most housing enterprises is to guarantee the delivery of the building, promote the collection of payments, and repay the debt.
In addition, as far as the performance of home furnishing and home improvement last year is concerned, in addition to the company's own operating strategy, raw material price increases and other factors, the inability to recover the receivables of a large number of insurance housing enterprises has become the fundamental reason for the large amount of impairment of home furnishing enterprises.
According to IFinD data from Flush, more than 27 home furnishing listed companies in A-shares have recently issued performance forecasts, 6 pre-increases, 21 pre-reductions, of which Hals, Del Future, Kangxin New Materials and other 4 turnaround losses, Zhongyuan Home, I Le Home, Dream Lily, Dinggu Jichuang, Piano, Yazhen Home and other 9 companies for the first time lost money.
Among them, Piano, I Le Home and other performance are drags on the real estate industry, holding Evergrande Group 714 million yuan of receivables of Jiangshan Oupai, in 2021 to achieve a net profit attributable to the shareholders of listed companies of 212 million yuan to 276 million yuan, a year-on-year decrease of 35.15% to 50.11%.
With Evergrande jointly establishing industrial parks with 6 enterprises such as Sophia, Piano and Xilinmen, Evergrande is currently withdrawing from the equity of the cooperation park with the above companies, and using the withdrawal shares to offset the arrears owed by Evergrande to suppliers.
In this regard, CSI Pengyuan believes that the leading enterprises of custom home furnishing are mainly based on distribution income and are less affected; the central and tail enterprises are greatly affected, and the impact of enterprises with a high proportion of bulk business and high debt ratio of cooperative housing enterprises is even worse.
When the real estate declines, how should home improvement be revitalized, and in the face of new business expansion, how will real estate and new entrants create a new situation?