Zhiou home Technology Co., Ltd. (hereinafter referred to as "Zhiou technology") was officially listed on GEM with "301376" as the stock code on June 21, 2023.
As of 10:10, the European science and technology newspaper was 28.30 yuan per share, and the market value exceeded 11.348 billion yuan.
Founded in 2010, Zhiou technology, as an internet home brand, focuses on home and furniture categories, adopts detachable and flat technology, and features relatively fast-moving small and medium-sized products, creating SONGMICS, VASAGLE, FEANDREA three private brands, providing global consumers with a multi-scene one-stop product portfolio such as living room, bedroom, courtyard, etc.
At present, Zhiou technology has opened up a full-link cross-border logistics service system from domestic factories to overseas end consumers, enable Chinese brands to quickly and directly reach overseas end customers-through the cross-border warehousing and logistics system of domestic and foreign self-operated warehouses, platform warehouses and third-party cooperative warehouses, Amazon, ManoMano, Cdiscount, eBay and other overseas well-known e-commerce platforms are the main sales channels, covering Europe, North America, Japan and other countries or regions.
In 2022, the revenue of technology in Europe was 5.46 billion yuan, and the compound annual growth rate from 2018 to 2022 was about 36%.
Song Chuan, chairman of Zhiou technology, said at the listing ceremony: "Since its establishment, Zhiou technology has focused on the research and development, design and sales of home furniture products of its own brand. Now, we have become a recognized Internet home furnishing brand in European and American markets, and have practiced the road of transformation and upgrading from Chinese manufacturing to brands. From today on, Zhiou science and technology will officially embark on a new journey of capital market. We will further improve the corporate governance structure, improve the management level, uphold the principle of honest management, and constantly innovate and deepen our efforts, return customers with better products and services, return investors with excellent performance, and return to the society."
As of December 31, 2022, the products of Zhiou technology involved 303 sub-categories, and the number of SPU products was 3335.
In terms of product concept, Zhiou technology takes "Value for money", "all-home scene (Variety)" and "fashion style design (Stylish)" as its core features, in order to become an online one-stop home brand labeled "Ikea.
According to Marketplace statistics, Zhiou technology ranks first in Europe and third in the United States among the home furniture categories of Amazon platform.
In addition to the Amazon platform, Zhiou technology has shown a rapid development trend in other online and offline channels, and has now entered Wayfair (the largest online furniture sales platform in the United States), otto (one of the largest online retail e-commerce platforms in Germany), Target (the second largest retailer in the United States) and other sales channels.
To some extent, based on the successful experience of Ikea, Zhiou technology has developed a scenario-based development path, focusing on categories but moderately managing multiple SKUs. Product features emphasize functionality and have high relevance among products.
In addition, Zhiou technology is not limited to IKEA. The online infinite space breaks the limited physical space limit offline. On the one hand, it can quickly iterate products within 3 to 4 months, on the other hand, we can constantly explore and present diversified product design styles to impress more consumers.
From the perspective of income composition, the revenue of European science and technology furniture series in 2022 was 2.59 billion yuan, and the compound annual growth rate from 2018 to 2022 was 41%; The revenue of household furniture series was 1.87 billion yuan, and the compound annual growth rate was 32%; courtyard series revenue is 0.53 billion yuan, with a compound annual growth rate of 30%; PET series revenue is 0.38 billion yuan, with a compound annual growth rate of 33%.
From the perspective of regional division, Europe and North America are the two main product sales areas of European science and technology at present-in 2022, the revenue of European science and technology in Europe was 3.065 billion yuan, the compound annual growth rate from 2018 to 2022 was 33%; The revenue in North America was 2.244 billion yuan, and the compound annual growth rate was 39%.
IDG and Jiayu are looking forward to bringing comfortable experiences to more families around the world.
Since its establishment, Zhiou science and technology has obtained investment from well-known institutions such as Anke innovation, IDG Capital, Jiayu Capital, Qianhai mother fund and investment capital.
Among them, IDG Capital has invested in Europe since the round of 2018, which is the first institution to invest in Europe and will continue to invest after that.
iDG Capital Partners Lianmeng said: "China is the world's largest furniture exporter and has strong advantages in the supply chain industry. Therefore, we are optimistic that Chinese furniture companies with global vision and localization capability will grow into global furniture brands in the future. With strong e-commerce operation and product development capabilities, Zhiou technology has continuously strengthened warehousing and logistics overseas for many years, and has seized the opportunity of the rise of global furniture e-commerce, at present, it has become the first Chinese company in Amazon's home category. We are optimistic about the pragmatic and steady style of the European team, and believe that the European team will play a greater role in the better life of families all over the world in the future. At the same time, we also expect more and more Chinese companies to go to the world, become a world-class company."
Jiayu Capital has invested in European science and technology for two consecutive rounds since 2019.
Wei Zhe, chairman and founding partner of Jiayu Capital, said: "to Europe, science and technology positioning 'online Ikea ', adhere to the long-term doctrine, multi-category, multi-channel, multi-regional development, focus on enabling global consumers to obtain online one-stop consumption experience with fashionable style, high cost performance and full-scene product portfolio, and keep improving. As a shareholder, Jiayu Capital congratulated European science and technology on its IPO on the gem and wished the company a comfortable experience for more families around the world and a better living space."
