The home intelligence industry in China is continuing to develop steadily
Arrow Home Group Co., Ltd. (Chinese: 箭牌家居, 001322:SZ), a Chinese home furnishing brand, was listed on the main board of the Shenzhen Stock Exchange (SSE) on 26 Oct 2022. Arrow issued 96.61 billion shares at an issue price of CNY 12.68 apiece, raising CNY 1.26 billion. At the end of 26 Oct, Arrow's share price was CNY 17.01, with a market value of CNY 16.40 billion.
Founded in 1994, Arrow is one of the earlier companies to enter the ceramic sanitary industry in China. The company strives to provide consumers with systematic and intelligent home solutions. The company's business scope includes research and development, production, sales, and import and export of products and technologies. The company's products include intelligent toilets, bathroom furniture, tiles, and customized closets.
The prospectus shows that Arrow's revenue in 2019, 2020 and 2021 was CNY 6.658 billion, CNY 6.5 billion and CNY 8.373 billion, and the net profit was CNY 556 million, CNY 589 million and CNY 577 million, respectively.
In the first half of 2022, Arrow's revenue was 3.3 billion, down 0.89% year-on-year, the operating profit was 276 million, up 46.82% compared to the same period of the previous year, and the net profit was 238 million, increasing 51.84% year-on-year.
With the development of IoT (Internet of Things) and AI technology, as well as the promotion and application of 5G, consumers' demand for home intelligence is increasing.
The listing will help Arrow continue to promote the intelligence of sanitary products and all household products, upgrade the brand, gradually build the home IOT ecology, and expand overseas markets.
As of press time, Arrow's share price is CNY 15.52 apiece, with a market cap of CNY 14.99 billion.