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Shanghai furniture maker known for European-style classic solid-wood furniture aimed at the mid-to-high-end home market.
Shanghai furniture maker known for European-style classic solid-wood furniture aimed at the mid-to-high-end home market.
In one line: A small Chinese classic/European-style furniture brand.
Moat: none. Small-scale niche furniture brand facing intense competition and shrinking sales.
Headquarters: Shanghai, China · Employees: 676
Size A-Zenith Home Furnishings (603389.SS) is a China Consumer Discretionary company (Home Furnishings) with a market value of $1.91B, the 1311th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥48.58 on 6 Nov 2026.
Performance Over six months the shares fell 17.5%, against -12.6% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 274.5% over the last twelve months (peer median +0.1%); the operating margin is -4.9% (peer median 6.2%).
Valuation It trades at 17.3× enterprise value to sales against a peer median of 1.4× (2nd most expensive of 21).
Capital Return on invested capital runs 14.2 points below its cost of capital (10.4% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥769M | CN¥554M | CN¥180M | CN¥195M | CN¥236M |
| Revenue growth | — | +208% | -8% | -17% | — |
| Gross profit | CN¥65.3M | CN¥58.5M | CN¥33.5M | CN¥32.7M | CN¥59.3M |
| EBITDA | CN¥12.5M | CN¥12.9M | -CN¥58.4M | -CN¥81.7M | -CN¥42.0M |
| Net income | -CN¥42.5M | -CN¥59.3M | -CN¥122M | -CN¥129M | -CN¥89.5M |
| Free cash flow | -CN¥91.2M | CN¥66.2M | -CN¥41.9M | -CN¥36.8M | -CN¥50.6M |
| Capital expenditure | CN¥31.4M | CN¥14.7M | CN¥4.28M | CN¥5.00M | CN¥35.1M |
| Total debt | CN¥624M | CN¥692M | CN¥187M | CN¥164M | CN¥154M |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| A-Zenith Home Furnishings 603389.SS | $1.91B | -17% | +275% | -5% | 17.3× | n/a |
| Jason Furniture (Hangzhou) 603816.SS | $3.57B | -10% | +1% | 9% | 1.1× | -2.2% |
| Suofeiya Home Collection 002572.SZ | $1.12B | -35% | -22% | 8% | 1.1× | -2.8% |
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 | 603389.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.7% | -1.4% | 4th highest of 21 |
| 6-month return | -17.5% | -12.6% | 8th lowest of 21 |
| Distance from 52-week high | -32.3% | -38.1% | 10th highest of 21 |
| Revenue growth (TTM) | +274.5% | +0.1% | highest of 21 |
| Operating margin | -4.9% | 6.2% | 5th lowest of 21 |
| EV / Sales | 17.3× | 1.4× | 2nd most expensive of 21 |
| ROIC minus cost of capital | -14.2 pp | -1.3 pp | 2nd lowest of 21 |
| Net debt / EBITDA | 38.6× | 1.0× | most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| A-Zenith Home Furnishings 603389.SS | China | $1.91B | -17% | +275% | -5% | 17.3× | n/a | n/a |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 5.7× | n/a | n/a |
| MotoMotion China 301061.SZ | China | $1.96B | -4% | -2% | 26% | 3.2× | -5.1% | +20.7% |
| Arhaus ARHS | United States | $2.01B | +118% | +5% | 7% | 1.7× | 28.4% | +22.1% |
| Higold 001221.SZ | China | $2.05B | -40% | +17% | 21% | 3.0× | -3.4% | +33.2% |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | 1.8× | n/a | n/a |
| Gansu Golden Solar 300093.SZ | China | $2.42B | -9% | -9% | -152% | 72.5× | n/a | n/a |
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 1.1× | 0.2% | -0.6% |
| Patrick Industries PATK | United States | $2.53B | -17% | +2% | 6% | 1.1× | 9.3% | +9.7% |
| Hyundai G.f 005440.KS | South Korea | $1.44B | -21% | -1% | 4% | 0.5× | -1.0% | +20.1% |
| MasterBrand MBC | United States | $1.37B | -12% | 0% | -1% | 1.0× | 19.4% | +2.1% |
| Okamura 7994.T | Japan | $1.35B | -14% | +3% | 7% | 0.6× | -6.7% | +6.1% |
| Ziel Home Furnishing Technology 301376.SZ | China | $1.32B | +32% | +21% | 6% | 0.9× | -7.0% | +17.0% |
| Asahi India Glass ASAHIINDIA.NS | India | $2.79B | +22% | +20% | 16% | 5.1× | n/a | n/a |
| La-Z-Boy LZB | United States | $1.27B | -11% | 0% | 7% | 0.7× | 4.2% | +4.2% |
| Oppein Home 603833.SS | China | $2.88B | -32% | -27% | 5% | 1.5× | 6.1% | +3.2% |
| Man Wah 1999.HK | Hong Kong | $1.20B | -45% | -3% | 14% | 0.7× | -6.5% | 0.0% |
| LIXIL 5938.T | Japan | $3.07B | +4% | +2% | 2% | 0.7× | 17.3% | +1.9% |
| Nien Made Enterprise 8464.TW | Taiwan | $3.08B | +1% | +4% | 35% | 2.8× | -8.3% | +4.2% |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | 1.5× | n/a | n/a |
| De Rucci Healthy Sleep 001323.SZ | China | $1.15B | -26% | -6% | 5% | 1.3× | 0.0% | +3.3% |