In addition to improving the layout of outlets in first- and second-tier cities, the company continues to develop third- and fourth-tier cities; intensively in the field of custom-made wardrobes, and actively seeks breakthroughs in other fields. We estimate earnings per share of 1.03 yuan for 13 years and 1.34 yuan for 14 years, giving a "prudent recommendation-A" investment rating. The custom wardrobe industry is growing rapidly. Although custom-made wardrobes have been in China for more than 10 years, they have only ushered in a period of rapid development in recent years. The main reason is that the soil for individualization and space utilization is gradually forming. 1. With the 70s and 80s becoming the main force of the consumer group, it is more pursuing fashion and pursuing individuality. 2. In the face of rising house prices, the full use of space is particularly important. Real estate impact on the company: Short-term: When the housing price is good, the housing is mostly, the company reflects the slow speed; when the housing price is poor, the existing housing is mostly, the company reflects the speed; Long-term: According to the real estate researcher's point of view, the demand will continue for a long time. Whether the current house price is rising or flat, it is a heavy pressure on the family, and consumers are more eager to make full use of limited resources. The company is the industry leader, the first advantage is obvious 1. The time of entry is early, the brand has accumulated, and has formed a good reputation effect for a long time; 2. The company has the highest market share, and the service and distributor systems are relatively complete; 3. Continuous investment in information technology to support the optimization of the entire process of production and service, so that the error rate continues to decline and reduce costs. Strategically lay out national production bases and plan for long-term development. Based on the company's main business and long-term strategic planning, the company's three production centers (Chengdu, Zhejiang, Langfang) and the company's headquarters production center are in line with each other. The national production layout of Sophia's custom home is basically formed, which will further strengthen the company. The overall competitiveness and influence will help improve the company's profitability. Give “prudent recommendation-A†investment rating: The company continues to develop third- and fourth-tier cities in addition to improving the layout of first- and second-tier cities. It is intensive in the field of custom-made wardrobes and actively seeks breakthroughs in other fields. We estimate earnings per share of 1.03 yuan for 13 years and 1.34 yuan for 14 years, corresponding to 31 and 4.2 for PE and PB for 13 years, and give “prudent recommendation-A†investment rating; Risk warning: The real estate boom is lower than expected. Self Adhesive Special Material Tracing Paper,Self Adhesive Backing Paper,Self Adhesive A4 Labels,Self Adhesive Thermal Paper Dongguan zuncheng paper plastic material co. LTD , https://www.zcadhesive-label.com