SKY Latest Report

Champion Homes (stock code: SKY) reported a total operating revenue of RMB644.925 million on December 28, 2024. According to analysis, the full-year operating revenue in 2024 grew by 3% YoY to US$11.3 billion, setting a new high since its spin-off. This indicates strong sales performance in the market despite the overall economic environment and industry competition.

Key Financial Data

1. The operating revenue in 2024 was US$11.3 billion, up 3% YoY, indicating that the company maintained a certain growth momentum in the market.

2. The operating revenue in Q3 was US$76.79 million, up significantly from US$60.49 million in the same period, showing excellent sales performance in a specific time frame.

3. Champion Homes launched several new products in 2024, including high-standard silent and energy-efficient ceiling fans and smart home series, meeting the market's diversified product needs.

4. Main competitors include Sofia, ZBOM Home Furnishing, Kuka Home Furnishing, and Oppolia Home Furnishing, which have strong brand recognition and influence in the market.

Peer Comparison

1. Industry-wide analysis: The overall operating revenue of the home furnishing industry in which Champion Homes operates increased in 2024, but was affected by the economic environment and fluctuations in the real estate market, leading to weakened overall market demand and intensified competition.

2. Peer evaluation analysis: Champion Homes' operating revenue growth rate is lower than some competitors, which may put it at a disadvantage in the market competition, especially in the customized home furnishing and smart home sectors.

Summary

Champion Homes' operating revenue performance in 2024 is good, with a 3% YoY growth, showing the company's adaptability in the market. However, the weakening overall market demand and intense competition still need attention. Although the company has enhanced its market competitiveness through the launch of new products, it needs to actively respond to market changes to maintain growth.

Opportunities

1. With the implementation of the country's consumer goods support policies, the future demand for the home furnishing industry is expected to recover, providing growth opportunities for Champion Homes.

2. The launch of new products, especially smart home-related products, can attract more consumers and enhance market share.

3. If sales and market strategies are optimized and brand awareness is improved, the company's market competitiveness will be further enhanced.

Risks

1. Fluctuations in the overall economic environment and real estate market may continue to put pressure on operating revenue.

2. Rapid development and new product launches by competitors in the industry may affect Champion Homes' market share.

3. If the company fails to adjust its market strategy in time to adapt to changes in consumer trends, it may face a risk of declining performance.