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Shangpin Home Collection posts first-half loss of 233 million yuan, approaching last year's full-year figure
Shangpin Home Collection released its half-year report on August 26, showing first-half operating revenue of 1.18 billion yuan, down 24.2 percent year on year, and a net loss attributable to the parent company of 233 million yuan, compared with a loss of 80.67 million yuan in the same period last year, widening the deficit further. The company lost 215 million yuan in 2024 and 248 million yuan in 2025, meaning this year's first-half loss is already close to last year's full-year level. The company attributed the revenue decline mainly to the impact of the real estate sector, with the furniture industry's overall gross margin falling to 20.44 percent, a sharp year-on-year drop of 12.65 percentage points. Facing the industry shift, the company is positioning itself in new areas such as AI-driven smart solutions and embodied intelligence, but these businesses are still in the research and development and market promotion stages and carry the risk that expansion may fall short of expectations.