On October 26, Wrigley Home Furnishing Group Co., Ltd. (hereinafter referred to as "Wrigley Home Furnishing", SZ:001322) was officially listed on the Shenzhen Stock Exchange main board. For this listing, Wrigley Home Furnishings issued 96.609517 million new shares, with an issue price of 12.68 yuan per share. According to calculations, the total amount of funds raised by Wrigley Home is about 1.225 billion yuan, and the net amount of funds raised is about 1.156 billion yuan. On the first day of listing, the opening price of Wrigley Home Furnishing was 15.22 yuan per share, up 20.03% from the IPO issue price. As of 11:07, the Wrigley Home call bidding was 17.2 yuan, up 35.65%, with a total market value of approximately 16.6 billion yuan.
According to the knowledge of the Home Furnishing Business, in July 2021, Wrigley Home Furnishing announced that it plans to list on the Shenzhen Stock Exchange. The IPO process was aborted in February 2022. Until July 15 this year, Wrigley Home Furnishings won the first launch. On October 19, Wrigley Home Furnishing issued the "Announcement on the Results of the Issuance of Stocks for the Initial Public Offering", showing that the company has completed the subscription payment work on October 18. Based on the online and offline subscription situation at that time, Wrigley Home finally raised 1.218 billion yuan, and the total amount of abandoned shares was about 480,585 shares was about 6.0939 million yuan. The number of abandoned shares is underwritten by the sponsor CITIC Securities , and the underwriting ratio is 0.5%.
It is reported that Wrigley Home was founded in 1994 and is headquartered in Foshan, Guangdong. It is a modern manufacturing enterprise integrating R&D, production, sales and service. Its product categories cover smart toilets, sanitary ceramics , faucet hardware, bathroom furniture, bathtub and bath room, ceramic tiles, custom cabinets and wardrobes and other series of home products. In November 2020, Wrigley Home Furnishing Group Co., Ltd. had completed the tutoring registration with the Guangdong Securities Regulatory Bureau. The company's legal representative Xie Yuerong , and CITIC Securities served as its sponsor, officially starting the listing process.
In terms of performance, from 2019 to 2021, Wrigley Home Furnishing's operating income was 6.658 billion yuan, 6.502 billion yuan and 8.373 billion yuan, with an average annual compound growth rate of 12.14%; net profit was 621 million yuan, 587 million yuan and 576 million yuan. It is reported that Wrigley Home has completed the fundraising and will be used for smart home product capacity technical transformation projects, annual production of 10 million sets of faucets and 3 million sets of showers, smart home R&D and testing center technical transformation projects, digital and intelligent upgrade technology transformation projects, marketing service network upgrade and brand building projects based on new retail models, and supplement working capital.
As of now, the ceramic sanitary ware industry has six listed companies including Haiou Hugong, Yuexin Health, Diou Home, Huida Sanitary ware , Mona Lisa and Dongpeng Holdings. This time, Wrigley Home has entered the market and has gathered the "Seven Heroes of the Warring States Period" pattern of ceramic sanitary ware. In addition to the main businesses of these seven companies, they all have layouts in smart tracks. According to the forecast of China Business Industry Research Institute, the scale of my country's smart home market will steadily grow from 2022 to 2026, and the scale of my country's smart home market will reach 855.67 billion yuan in 2026. Although the attractive smart home cake has attracted ceramic sanitary ware companies to participate with capital support, judging from the current performance of the joiners, it is not easy to split the smart home cake.
Among the six ceramic sanitary ware companies that have been listed before, Dongpeng Holdings, Haiou Zhuanggong and Huida Sanitary ware have publicly claimed to enter the smart home track in their strategic layout, but have not made much achievements. According to industry insiders, most companies are still only adding some auxiliary intelligent functions to product , or using smart toilets as the main smart product, with the concept greater than reality. If we want to truly use intelligent technology to achieve product innovation, expand revenue share, and seize the huge smart home cake, ceramic sanitary ware companies need to work hard and go further!
