OPPEIN 2021 Financial Statements Review
In 2021, due to the impact of COVID 19, the development of the home furnishing industry remained stagnant. However, no matter how the general situation changes, consumers' thirst for a better life and their basic requirements for a personalized dream home have never changed. Therefore, OPPEIN adhered to the mission of maximally satisfying customers' needs and overcame challenges, such as intensified competition and the price hike in raw materials, to achieve relatively ideal levels of performance growth.
As a leading brand in China's home furnishing industry, OPPEIN has achieved breakthrough growth in revenue for the full range of products through manufacturing system upgrades and design innovation.
At the same time, we have developed franchise support, enhanced strategic cooperation with business partners, and improved the service quality of direct sales stores, to expand sales channels and achieve comprehensive growth.
For the year 2021, OPPEIN maintained a stable financial structure and positive operating cash flow to grow the business.
There are many unfavorable factors that arose in 2021, such as the continuous influence of pandemics, logistic disruptions, and the increase in raw-material prices. OPPEIN has greatly enhanced production efficiency and reduced the overall manufacturing cost rate by developing intelligent manufacturing systems. We have also enhanced the R&D investment and promoted R & D innovation, to meet consumer needs for product quality and delivery services.
We have developed our franchisees in the past year, and expanded showrooms all over the world, providing high-quality products and services to millions of families. As a result of these measures, the sales of OPPEIN products reached a new high, thus becoming a landmark in the China custom home furnishings market.
In the future, OPPEIN will continue to focus on eco-friendly innovation and provide consumers with comprehensive home furnishing solutions. We will also optimize terminal stores and strive to offer the most valuable products and services to consumers worldwide. "Where there is love and home, there is OPPEIN" is not just an advertising slogan for us, but it is the spirit of all OPPEINers.