Oppein Home Reports First-Half Revenue Down 27.79% as Net Profit Falls 56.62%

Oppein Home said on August 28 that its first-half revenue fell 27.79% year on year to 5.95 billion yuan, while net profit attributable to shareholders dropped 56.62% to 442 million yuan, according to Jiemian News. Basic earnings per share were 0.73 yuan. The company said performance was pressured by continued adjustments in the property sector and weaker-than-expected recovery in home furnishing consumption, which weighed on revenue, reduced the benefit of fixed-cost absorption and, together with ongoing operating expenses, hurt profitability.