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Qianchuan Wooden Doors warmly congratulates Fusenmei Home Furnishing on its successful A-share listing!

　　At 9:25 on November 9th, Fusenmei, stock code 002818, officially landed on the A-share market of the Shenzhen Stock Exchange, becoming the first A-share listed company in China's home furnishing market, starting a new chapter in the capitalization process of China's home furnishing circulation industry.

　　Over more than ten years of mutual assistance and cooperation, we have witnessed the growth of Fusenmei, and Fusenmei has also provided many good opportunities for the development of Qianchuan Wooden Doors. Now, Fusenmei Home Furnishing has firmly established its leading position in the Southwest building materials circulation industry, and Qianchuan Wooden Doors will take it as a model to explore a broader future.

　　Thank you for the years of companionship. We will move forward hand in hand in the future. Qianchuan Wooden Doors warmly congratulates Fusenmei Home Furnishing on its successful A-share listing.

　　After 8 years, finally listed.

　　Founded in December 2000, Fusenmei Home Furnishing Company has always focused on the development, leasing, and services of modern building materials and home furnishing commercial markets. Currently, Fusenmei owns 6 professional markets in Chengdu, with an operating area of 823,400 square meters and more than 2,500 tenants.

　　"After the company was established, it took more than a year to build the largest single decoration building materials market in the country in Chenghua District, with a total area of 580,000 square meters, achieving 100% leasing and 100% operation," said Liu Bing, chairman of Fusenmei Home Furnishing Company. In 2016, Fusenmei also built a 30,000-square-meter headquarters home import pavilion, which will open on November 23.

　　According to insiders, Fusenmei confirmed its path to enterprise listing as early as 2009. "During these 8 years, there were many opportunities to make big and quick money." But Liu Bing believes that a company must maintain strategic determination, "knowing what to do and what not to do." Therefore, it was not until June 2013 that the China Securities Regulatory Commission accepted Fusenmei's initial public offering application, starting the IPO journey.

　　In April 2014, Fusenmei's first public offering prospectus was disclosed on the CSRC website. After more than two years of waiting, Fusenmei finally received approval from the CSRC in October this year, entering the final procedures before listing.

　　On November 9, Fusenmei officially landed on the SME board of the Shenzhen Stock Exchange, becoming the 552nd listed company on the Growth Enterprise Market. This also made Fusenmei the first A-share listed company in the domestic building materials and home furnishing trade circulation field.

　　Facing the challenge of e-commerce by building an online trading platform.

　　In the past 15 years, Fusenmei's main business has been the development and leasing of decoration building materials, home furnishing, and auto parts markets. Like other traditional industries, Fusenmei has inevitably been impacted by e-commerce. In Fusenmei's prospectus, investors are also reminded to pay attention to this potential risk.

　　"Compared with traditional physical store sales, online sales have obvious cost and convenience advantages. Traditional physical stores bear heavy and increasing costs in rent, logistics, and labor," the prospectus states. The company's current market operation provides a physical store sales platform for tenants. If it cannot achieve rapid breakthroughs and innovations in e-commerce, it will face significant competitive risks.

　　However, Fusenmei also has its unique advantages. "A large market and logistics operation radiation platform is a consistent advantage of Fusenmei," said Liu Bing. On this bulk goods trading service platform, Fusenmei has provided market dividends to more than 1.5 million engineering contractors, distributors, and wholesalers at all levels.

　　Moreover, relying on six home furnishing markets across Chengdu, Fusenmei has established an online trading platform since 2010. It is understood that Fusenmei's online trading platform mainly engages in online promotion, management, and services for the decoration building materials and home furnishing market.

　　In recent years, Fusenmei has maintained good profitability. Data shows that from 2013 to 2015, Fusenmei's operating revenues were 730 million, 770 million, and 1.04 billion yuan respectively, with a compound growth rate of 19.36%; net profits were 300 million, 330 million, and 450 million yuan. In the first half of 2016, it achieved revenue of 620 million and net profit of 290 million yuan.

　　Post-listing expansion beyond the province.

　　Industry insiders analyze that after entering the capital market, Fusenmei will inevitably embark on an expansion path, extending its reach from Chengdu to the whole country. This speculation has been confirmed by Fusenmei, "Expansion will be an inevitable choice for Fusenmei."

　　"Chengdu's furniture and automobile industries are relatively developed, with huge market scale and development potential." As a local brand, Fusenmei stands out among many home furnishing brands due to its large operating scale, good after-sales service, and complete industrial chain.

　　After completing brand building and market accumulation in Chengdu, Fusenmei will seize the opportunity to expand outside Sichuan Province, "aiming to become a first-class large-scale domestic decoration building materials and home furnishing enterprise." According to the introduction, after listing, Fusenmei will expand externally from three dimensions: home furnishing circulation, home furnishing manufacturing, and home furnishing services, continuously leveraging platform sharing.

　　"Under the premise of rapid development of information technology, continuous innovation of business models, and upgrading and changing consumer demand, as long as it is beneficial to enterprise development, Fusenmei will study and implement horizontal mergers and acquisitions, vertical integration, online and offline dual drives, integration of industry and finance, and business model innovation," said Liu Bing.