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Chinese maker and exporter of outdoor and patio furniture -- rattan sofas, dining sets -- sold mainly to US and European retailers.
Chinese maker and exporter of outdoor and patio furniture -- rattan sofas, dining sets -- sold mainly to US and European retailers.
In one line: A Chinese outdoor-furniture exporter supplying big-box/patio retailers.
Moat: narrow (scale, customer qualification). Established export manufacturing scale and retailer relationships in outdoor furniture.
Headquarters: Hangzhou, China · Employees: 3,505
Size Higold (001221.SZ) is a China Consumer Discretionary company (Home Furnishings) with a market value of $2.05B, the 1232nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥34.23 on 6 Nov 2026.
Performance Over six months the shares fell 40.0%, against -11.4% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 16.9% over the last twelve months (peer median +0.4%); the operating margin is 20.8% (peer median 6.2%).
Valuation It trades at 17.4× forward earnings against a peer median of 16.8× (7th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -37 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 48.1 points above its cost of capital (5.0% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥3.91B | CN¥3.58B | CN¥2.86B | CN¥2.21B | CN¥1.61B |
| Revenue growth | — | +25% | +29% | +37% | — |
| Gross profit | CN¥1.45B | CN¥1.28B | CN¥996M | CN¥730M | CN¥487M |
| EBITDA | n/a | CN¥893M | CN¥646M | CN¥438M | CN¥258M |
| Net income | CN¥721M | CN¥704M | CN¥531M | CN¥333M | CN¥206M |
| Free cash flow | CN¥303M | CN¥818M | CN¥341M | CN¥364M | -CN¥80.5M |
| Capital expenditure | CN¥593M | CN¥224M | CN¥333M | CN¥234M | CN¥346M |
| Total debt | CN¥395M | CN¥513M | CN¥153M | CN¥202M | CN¥151M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Higold 001221.SZ | $2.05B | -40% | +17% | 21% | 17.4× | -3.4% |
| Man Wah 1999.HK | $1.20B | -45% | -3% | 14% | 7.9× | -6.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 001221.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.2% | -0.1% | 8th highest of 21 |
| 6-month return | -40.0% | -11.4% | 2nd lowest of 21 |
| Distance from 52-week high | -56.2% | -31.3% | 2nd lowest of 21 |
| Revenue growth (TTM) | +16.9% | +0.4% | 4th highest of 21 |
| Operating margin | 20.8% | 6.2% | 3rd highest of 21 |
| Forward P/E | 17.4× | 16.8× | 7th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | -3.4% | -0.4% | 6th least demanding of 15 |
| Growth delivered (Del g) | +33.2% | +5.2% | highest of 15 |
| Hurdle (Req g minus delivered) | -36.5 pp | -3.4 pp | least demanding of 15 |
| ROIC minus cost of capital | +48.1 pp | -2.0 pp | highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Higold 001221.SZ | China | $2.05B | -40% | +17% | 21% | 17.4× | -3.4% | +33.2% |
| Arhaus ARHS | United States | $2.01B | +118% | +5% | 7% | 26.2× | 28.4% | +22.1% |
| MotoMotion China 301061.SZ | China | $1.96B | -4% | -2% | 26% | 18.5× | -5.1% | +20.7% |
| A-Zenith Home Furnishings 603389.SS | China | $1.91B | -17% | +275% | -5% | n/a | n/a | n/a |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | n/a | n/a | n/a |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 222.4× | n/a | n/a |
| Gansu Golden Solar 300093.SZ | China | $2.42B | -9% | -9% | -152% | n/a | n/a | n/a |
| Patrick Industries PATK | United States | $2.53B | -17% | +2% | 6% | 16.8× | 9.3% | +9.7% |
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 16.7× | 0.2% | -0.6% |
| Asahi India Glass ASAHIINDIA.NS | India | $2.79B | +22% | +20% | 16% | 58.8× | n/a | n/a |
| Oppein Home 603833.SS | China | $2.88B | -32% | -27% | 5% | 16.8× | 6.1% | +3.2% |
| Hyundai G.f 005440.KS | South Korea | $1.44B | -21% | -1% | 4% | 4.8× | -1.0% | +20.1% |
| MasterBrand MBC | United States | $1.37B | -12% | 0% | -1% | n/a | 19.4% | +2.1% |
| LIXIL 5938.T | Japan | $3.07B | +4% | +2% | 2% | 38.8× | 17.3% | +1.9% |
| Nien Made Enterprise 8464.TW | Taiwan | $3.08B | +1% | +4% | 35% | 13.3× | -8.3% | +4.2% |
| Okamura 7994.T | Japan | $1.35B | -14% | +3% | 7% | 9.5× | -6.7% | +6.1% |
| Ziel Home Furnishing Technology 301376.SZ | China | $1.32B | +32% | +21% | 6% | 18.2× | -7.0% | +17.0% |
| La-Z-Boy LZB | United States | $1.27B | -11% | 0% | 7% | 12.7× | 4.2% | +4.2% |
| Man Wah 1999.HK | Hong Kong | $1.20B | -45% | -3% | 14% | 7.9× | -6.5% | 0.0% |
| Jason Furniture (Hangzhou) 603816.SS | China | $3.57B | -10% | +1% | 9% | 13.3× | -2.2% | +9.7% |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | n/a | n/a | n/a |