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One of China's largest furniture makers, known for sofas, recliners and mattresses sold domestically and exported under Kuka Home.
One of China's largest furniture makers, known for sofas, recliners and mattresses sold domestically and exported under Kuka Home.
Sells sofas, beds and mattresses mostly through franchised and own stores across China, with a separate export business that makes furniture for foreign retailers and brands. Demand follows home sales and renovations; the export side makes products to other companies' orders.
In one line: China's largest sofa/furniture maker, akin to a scaled La-Z-Boy/Ashley.
Moat: narrow (scale, brand, distribution). Large domestic retail network and export manufacturing scale versus fragmented furniture competitors.
Headquarters: Hangzhou, China · Employees: 22,885
Size Jason Furniture (Hangzhou) (603816.SS) is a China Consumer Discretionary company (Home Furnishings) with a market value of $3.57B, the 722nd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥26.21 on 6 Nov 2026.
Performance Over six months the shares fell 9.8%, against -12.6% for the median peer and -16.4% for the China market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 0.6% over the last twelve months (peer median +0.9%); the operating margin is 9.4% (peer median 6.2%).
Valuation It trades at 13.3× forward earnings against a peer median of 16.8× (5th cheapest of 16).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +10%, so the hurdle is -12 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 8.7 points above its cost of capital (7.7% WACC).
Next results Next results expected around 29 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥19.8B | CN¥20.0B | CN¥18.4B | CN¥19.1B | CN¥18.0B |
| Revenue growth | — | +9% | -4% | +7% | — |
| Gross profit | CN¥6.79B | CN¥6.33B | CN¥5.78B | CN¥6.01B | CN¥5.30B |
| EBITDA | n/a | CN¥2.64B | CN¥2.39B | CN¥2.85B | CN¥2.44B |
| Net income | CN¥1.64B | CN¥1.79B | CN¥1.42B | CN¥2.01B | CN¥1.81B |
| Free cash flow | CN¥1.90B | CN¥2.21B | CN¥1.65B | CN¥298M | CN¥988M |
| Capital expenditure | CN¥711M | CN¥631M | CN¥1.08B | CN¥2.22B | CN¥1.48B |
| Total debt | CN¥3.65B | CN¥2.56B | CN¥1.68B | CN¥2.02B | CN¥2.00B |
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 |
|---|---|---|---|---|---|---|
| Jason Furniture (Hangzhou) 603816.SS | $3.57B | -10% | +1% | 9% | 13.3× | -2.2% |
| Man Wah 1999.HK | $1.20B | -45% | -3% | 14% | 7.9× | -6.5% |
| Oppein Home 603833.SS | $2.88B | -32% | -27% | 5% | 16.8× | 6.1% |
| La-Z-Boy LZB | $1.27B | -11% | 0% | 7% | 12.7× | 4.2% |
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 | 603816.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.5% | -0.1% | 4th highest of 21 |
| 6-month return | -9.8% | -12.6% | 9th highest of 21 |
| Distance from 52-week high | -30.3% | -34.0% | 10th highest of 21 |
| Revenue growth (TTM) | +0.6% | +0.9% | 11th highest of 21 |
| Operating margin | 9.4% | 6.2% | 6th highest of 21 |
| Forward P/E | 13.3× | 16.8× | 5th cheapest of 16 |
| Growth the price implies (Req g, 7 yrs) | -2.2% | -0.4% | 7th least demanding of 15 |
| Growth delivered (Del g) | +9.7% | +5.2% | 7th highest of 15 |
| Hurdle (Req g minus delivered) | -11.8 pp | -3.4 pp | 7th least demanding of 15 |
| ROIC minus cost of capital | +8.7 pp | -2.0 pp | 4th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Jason Furniture (Hangzhou) 603816.SS | China | $3.57B | -10% | +1% | 9% | 13.3× | -2.2% | +9.7% |
| Nien Made Enterprise 8464.TW | Taiwan | $3.08B | +1% | +4% | 35% | 13.3× | -8.3% | +4.2% |
| LIXIL 5938.T | Japan | $3.07B | +4% | +2% | 2% | 38.8× | 17.3% | +1.9% |
| Oppein Home 603833.SS | China | $2.88B | -32% | -27% | 5% | 16.8× | 6.1% | +3.2% |
| Asahi India Glass ASAHIINDIA.NS | India | $2.79B | +22% | +20% | 16% | 58.8× | n/a | n/a |
| Patrick Industries PATK | United States | $2.53B | -17% | +2% | 6% | 16.8× | 9.3% | +9.7% |
| Gansu Golden Solar 300093.SZ | China | $2.42B | -9% | -9% | -152% | n/a | n/a | n/a |
| Zhuzhou Kibing 601636.SS | China | $2.22B | -21% | -4% | -8% | n/a | n/a | n/a |
| 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 |
| WG Tech (JiangXi) 603773.SS | China | $1.87B | -20% | +2% | -8% | 222.4× | n/a | n/a |
| Forbo FORN.SW | Switzerland | $1.51B | +23% | -1% | 8% | 16.7× | 0.2% | -0.6% |
| 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% |
| 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% |
| CSG 000012.SZ | China | $1.17B | -13% | -12% | -5% | n/a | n/a | n/a |