Recently, Zhiou restartedIPO, submitted listing materials and disclosed the prospectus. In fact, as early as June this year, Zhiou IPO was accepted by Shenzhen Stock Exchange, and it is planned to raise nearly 1.5 billion yuan to strengthen research and development. However, in September, Zhiou IPO was forced to stop because the financial data expired.
Half year revenue3.2 billion yuan, re launching IPO to Europe
As a cross-border big seller in central China, Zhiou has always been calm and low-key. This restartThe IPO announced the revenue from 2018 to the first half of 2021, with striking data. in the meantime,To EuropeThe revenue isfifteen9 billion 500 millionYuantwenty-three2.6 billion yuanthirty-nine point seven100 million yuanandthree200 million yuan，The compound annual growth rate from 2018 to 2020 is 57.80%。
Among them,Overseas onlineB2CThe platform isTo EuropeMain sales channels of, includingAmazonCdiscount, ManoMano, eBay, etcOverseas e-commerce platform.
According to the data, during the reporting period,To Europeon-lineThe sales revenue realized by B2C channel is respectively 150.6 billion yuantwenty200 million yuanthirty-two900 million yuanandtwenty-six3.4 billion yuan, respectively accounting for the main business income94.46%, 86.99%, 82.93% and 82.35%.
Among them, throughAmazonB2CPlatform implementedsales revenuestayTo EuropeIncome from main businessHigh proportion，The proportions are89.32%, 81.13%, 71.80% and 69.31%。
The sales markets of products to Europe mainly includeEurope, North America, JapanAnd other countries and regions. It is inGerman, American and Japanese subsidiaries mainly use overseas e-commerce platforms，Selling products to consumers, of whichEurope and the United States are the main sales markets of products to Europe。
along withAmazonCdiscount, ManoMano, eBay and other online platforms have gradually developed into mature global open e-commerce platforms, Zhiou expressed that,IftheseSignificant changes in the business model, business strategy or business stability of the e-commerce platform may occurmeetingyesTheThe company's operating performance has adverse effects.
Previously, to EUDuring the A-share listing, it was supported by Anke's innovation. Anke once said that Zhiou, as a domestic cross-border blockbuster, is one of the largest Amazon sellers in the household category. Anke is optimistic about the future development and growth potential of Zhiou.
As a cross-border big sale, the resumption of IPO in Europe has also attracted the attention of sellers in the circle.
Best selling in Europe and the United States, with products occupying the top of Amazon's list
Most of China's cross-border sellers are located in Shenzhen, while Zhiou is located in Zhengzhou in the central region, becoming a successful case representative of the central cross-border circle.
To EuropeIt is mainly engaged in the R&D, design and sales of its own household products, which mainly include furniture, home furnishing, courtyard, pet and other categories,There areSONGMICS, VASAGLE and FEANDREA。
amongSONGMICSbrandFor household categoryThe business category mainly includes storage category, appliance category and decoration category;VASAGLE is a furniture category, including living furniture and office furniture, such as TV cabinet, dining table, office chair, etc;FEANDREA is a pet household category, such as cat racks, dog kennels, pet mats, etc.
In the sales data of the first six months of this year,The furniture series occupies the whole50.59%, household accounting for 30.68%.During the reporting period, the total income of furniture, household, garden and pet products accounted for more than98%, the sales volume also showed a continuous increase, becoming the main source of the company's revenue and profits.Furniture series and home furnishing series are the most important product categories of the company.
In terms of business model, Zhiou is divided into onlineFor B2C mode and cross-border export B2B mode, online B2C mode accounts for more than 80% of sales. Online sales are mainly conducted through Amazon, ManoMano, Cdiscount, eBay and other well-known e-commerce platforms, and the products are popular in Europe and the United States,Europe accounts for about60%, North America accounts for about 39%.
According to the data in the prospectus,Amazon platform accounts for69.31%，Many products rank at the top of Amazon's best-selling list all the year round, and have won many honorary seller awards awarded by the platform. such asWon in 2017"Amazon Omnipotent Seller”Title, awarded in 2019“Amazon's most popular brand seller of the year”, SONGMICS and VASAGLE were selected at the same time“Amazon Global Stores Top 100 Chinese Export Cross border Brands”。
Zhiou attaches great importance to product research and development and adopts"Independent research and development" and "cooperative development". Based on big data analysis of current popularity and user preferences, the market direction and gaps in products and functions are clarified. Since 2020, many products designed by the company have successively won the China Design and Intelligent Manufacturing Award for Excellence, the Good Contemporary Design Award, the A 'Design Award and the German Red Dot Design Award.byOn June 30, 2021, the company has 314 patented technologies and 42 copyrights.
With good market reputation and brand image, Zhiou has not only won the favor of consumers, but also won many praises, and was recognized and recommended by many industry media magazines.
In combination with the overall market direction, according toAccording to the data of Statista, the sales of e-commerce channels for furniture products in the United States will reach $61.212 billion in 2025, and that in Europe will reach $51.964 billion. In the long run, e-commerce channels will become a new growth point in the global furniture market.
However, against the backdrop of cross-border e-commerce turmoil this year, sellers are faced with many uncertain risks.
Half year sales expense reaches1.264 billion yuan, increase R&D investment
According to the data released by Zhiou, Zhiou's expenditure on various expenses remained stable, some expenses increased, and its business performance showed a trend of rapid growth.
Data display,In the first half of 2021,The total sales expenses to Europe amounted to1.264 billion yuan, sales expense rate is39.49%。 With the continuous expansion of business scale, the sales expenses of Zhiou have increased correspondingly, butOn the whole, the sales expense rate is on the decline。
According to the data, the current sales expenses to Europe mainly includeTransportation costs, e-commerce platform transaction costs, advertising costs, employee compensation, storage costsEtc.In the first half of 2021, these expenses will be 560 million yuan, 440 million yuan, 70.9562 million yuan, 45.9933 million yuan and 100 million yuan respectively, including share based payment expensesTotal sales expenses of each period in the reporting periodMore than 95%。
On the whole, the transport cost rate to Europe increased slightly compared with last year0.65 percentage points. Due to the expansion of its inventory scale and epidemic situation, the storage cost in North America has been affected, and its storage cost has increased.
stockOn the other hand, the inventory of CiouConsists of goods in stock, in transit inventory and issued goods. At the end of each reporting period,hisThe book values of inventories are175 millionYuantwo53 millionYuaneight5 billion 900 millionYuan sumnine2 billion 200 millionYuan, accounting for41.58%、38.68%, 47.83% and 34.54%。
It is worth noting that,In the first half of this year, the R&D expenses of CEE reached11573500 yuanAmong the many R&D elements investedFocused on increasing investment in R&D human resourcesThis also further verified what Zhiou Brand Director Zhang Liuming said about the shaping of craftsmanship spirit by Zhiou.
However, in the overall environment of cross-border e-commerce in recent two years, Zhiou is also faced with uncertain risks in terms of operation, technology, accounting, internal control, etc., such as platform adjustment of business model, business strategy or third-party seller policies and rates.
With the upgrading of control over third-party sellers by multiple e-commerce platforms, many sellers are disconsolate. In this regard, Zhang Liuming once said in his previous interview that Zhiou welcomes compliance. In terms of compliance, Zhiou has always maintained a rigorous attitude, and compliance is conducive to the healthy development of the entire industry.
After the suspension, Zhiou starts againIPO will also accelerate its capitalization process. After the smooth listing, it will also have an important and positive impact on the development of cross-border e-commerce in the whole central region.