Huisen Intl Group Limited ("Huisen Intl") has released its mid-year report for 2024. The report shows that due to the impact of the China-United States trade tariffs and the rise in international csi commodity equity index prices caused by the Russia-Ukraine war, Huisen Intl's profits have been squeezed. Despite the global economic downturn, Huisen Intl remains optimistic about the industry, continuing to increase research and development investment. During the reporting period, the company's main business is the production and sale of panel furniture, software furniture, sports furniture, and custom furniture, with the primary market being the USA. In the first half of 2024, the company's revenue was 0.84 billion yuan, a decrease of 43.6% compared to the same...Show More

Huisen Intl Group Limited ("Huisen Intl") has released its mid-year report for 2024. The report shows that due to the impact of the China-United States trade tariffs and the rise in international csi commodity equity index prices caused by the Russia-Ukraine war, Huisen Intl's profits have been squeezed. Despite the global economic downturn, Huisen Intl remains optimistic about the industry, continuing to increase research and development investment. During the reporting period, the company's main business is the production and sale of panel furniture, software furniture, sports furniture, and custom furniture, with the primary market being the USA. In the first half of 2024, the company's revenue was 0.84 billion yuan, a decrease of 43.6% compared to the same period in 2023, with a net loss of 0.38 billion yuan, a decrease of 336.3% compared to the same period in 2023. The decrease in revenue is mainly due to the continued interest rate hikes in Europe and the USA, with real estate prices remaining high, leading to a decrease in demand for furniture products. Huisen Intl stated that as the interest rate hike cycle in Europe and the USA enters its final stage, the real estate market will stabilize, the furniture market is expected to rebound, the company will continue to expand into markets outside the USA, strengthen ODM capabilities, and increase market share.