Huisen (‘company’) is engaged in the manufacture of panel-type furniture (cabinets, shelves, coffee tables, etc.) as well as upholstered furniture and outdoor furniture.
It is China’s largest exporter of panel-type furniture and 2/3rd of sales was generated in the US. Most of its revenues are concentrated among five customers including Walmart, which has been a customer since 2012.
Rising interest rates and the inflationary environment is expected to dampen property purchases and therefore, furniture buys.
The company raised equity financing of over HK$ 1.2b (~1b rmb) via an IPO in December 2020 at a price of HK$ 1.77/share.
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