According to the Zhitong Finance APP, on November 8, OJ Furniture (02519) was officially listed on the Hong Kong Stock Exchange. As a leading global brand cross-border e-commerce company, OJ Furniture focuses on providing high-quality furniture and home products. In the first four months of this year, OJ Furniture's revenue was 2.834 billion yuan, a year-on-year increase of 16.9%, while net income increased by 96.8% to 0.189 billion yuan, demonstrating strong growth momentum.

It is understood that OJ Furniture is a brand operator and export logistics service provider focusing on providing high-quality furniture and home products. Several of the company's brands have performed well in the market, with 11 brands achieving a total transaction volume (GMV) exceeding 0.1 billion yuan in 2023. According to Frost & Sullivan data, based on GMV calculations, six product categories of OJ Furniture (including bed frames, food cabinets, dressing tables and stools, bookcases, dining cabinets and side cabinets, and refrigerators) ranked first on the Amazon USA website.

In addition to product sales, logistics services have gradually become a new growth curve for OJ Furniture. Data shows that as of the four months ending on April 30, 2024, OJ Furniture's logistics service revenue increased by 66.57% from the same period last year to 0.583 billion yuan, with the proportion of logistics services in total revenue climbing from 5.4% in 2021 to 20.6% in 2024. By providing efficient one-stop logistics solutions to a wide range of sellers on e-commerce platforms, the company's Xiyu Smart Warehouse completed 2.5 million orders in the first four months of 2024, a 38.9% increase from the same period last year's 1.8 million orders.

It is worth noting that in this IPO issuance, OJ Furniture introduced three cornerstone investors who subscribed to a total of approximately 0.109 billion Hong Kong dollars, including: Hong Kong Huacheng Cloud Commerce Technology Co., Ltd. (an indirect wholly-owned subsidiary of Sevit Era (301381.SZ)), LC Logistics Co., Ltd. (02490), and Ms. Huang Jiahui. Prior to this, OJ Furniture had also received investments from well-known institutions and industry players such as Deep Venture Capital, Citic, Jinglin Investment, Sequoia China, Galaxy Ventures, Hidden Hill Capital, Midea Venture Capital, Kaihui Fund, Shunwei Capital, Silk Road Fund, Shenzhen Transsion Holdings Co., Ltd., and others. The support of numerous capitals not only brings financial backing but also demonstrates the market's confidence in the future development of OJ Furniture.

Amidst the economic recovery trend, investment institutions generally predict that the current level of Hong Kong stocks is low, with the opening of the Fed interest rate cutting cycle and improved liquidity in Hong Kong stocks, the market situation will continue to warm up. With its solid fundamentals and the synergistic effect of 'e-commerce + logistics,' OJ Furniture is expected to become a high-quality investment target, and its stock price will enter a new growth cycle.