Since 2005, the era of zero tariffs on imported furniture for six consecutive years is about to end. Recently, the official website of the General Administration of Customs announced the No. 15 regulation of this year, which mentioned that since April 15, 2012, the import furniture was subject to a 10% tariff. As a result, many people in the industry have said that tariff adjustments may trigger a wave of price hikes for imported furniture brands. Then, the introduction of this policy for many domestic furniture listed companies including Meike, Sophia, Yihua Wood, etc., will the company's performance be "stained"? Regarding the taxation of imported furniture to be implemented, Zheng Zheng, an analyst at Orient Securities, believes that importing furniture tax or promoting the price increase of furniture company products. Take Meikemeijia as an example. The company’s Yisen Allen brand furniture is imported. If the company borrows imported furniture to raise prices, it will be promoted to other private brands in the second quarter. According to the company’s previous price adjustment experience, before the price adjustment date Within one month, the company's sales revenue will increase significantly. It is concluded that the growth of domestic retail business of Meike will be guaranteed in the second quarter of this year. In addition, Zheng Zheng said that the third quarter and fourth quarter of each year is the traditional sales season of the furniture industry, and the adverse effects of early overdraft demand caused by price increases may be weakened. With the company's franchise brand spread across the country, the company's revenue growth may exceed expectations. Analysts at BOC International also said that the possibility of importing furniture due to higher tariffs is very high, which is undoubtedly a good thing for domestic furniture brands. “The domestic furniture listed company will take advantage of the price increase of imported furniture to adjust the product structure of the company to further enhance the competitiveness of the company. The higher price increase of imported furniture will result in the lower gross profit margin of the imported furniture. Domestic furniture, which caused some consumers to transfer to domestic furniture, thereby improving the profitability of listed companies.†The analyst also pointed out that the “old-for-new†policy of furniture launched last month will also promote domestic furniture to some extent. The company's profitability. "Sofia's sales channels for furniture-listed companies are mostly entering major homes or building materials stores, such as Red Star Macalline, etc. If the 'renewed new' policy is promoted, it will undoubtedly lead to a rapid increase in sales; Beijing's regional share is relatively large, and the unit price of products is relatively high, which may be more attractive to consumers in terms of trade-in. From the 2011 annual results report that has been disclosed, the domestic furniture listed companies generally showed an upward trend in business last year. Sophia, Yihua Wood and Zhejiang Yongqiang achieved net profit of 134 million yuan, 250 million yuan and 266 million yuan respectively last year, up 44.88%, 1.86% and 6.56% respectively. The company's net profit attributable to shareholders of listed companies last year is expected to increase by more than 100%.
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