Oppein Home Group Inc. (603833.SS) Bundle
From humble beginnings in 1994 as Guangzhou Optima Enterprise Co., Ltd. to a global powerhouse listed as 603833.SS, Oppein Home Group has transformed cabinetry roots into a vast home-furnishing empire-rebranding in 2010 and by 2021 recording a sales turnover of USD 3.14 billion and celebrating its 28th consecutive year of growth; the company's industry dominance is underscored by selling 6 million kitchen cabinets in 2022, a market valuation that topped 100 billion yuan (~USD 15.3 billion) by March 2021, and an expanded footprint of five intelligent manufacturing bases covering over 2.5 million square meters as of late 2025; led by founder and chairman Liang Song Yao alongside key executives with meaningful stakes, Oppein leverages advanced HOMAG machinery, strategic Italian design partnerships, and a global retail network of over 8,700 showrooms across 130+ countries to generate diversified revenue-reaching USD 3.25 billion in 2023 with USD 2.5 billion from its franchise channel and USD 160 million invested in product innovation-positioning the brand's mission to blend Chinese cultural elements with international design while scaling large projects and worldwide expansion
Oppein Home Group Inc. (603833.SS): Intro
History- Founded in 1994 as Guangzhou Optima Enterprise Co., Ltd., Oppein began as a cabinetry manufacturer in China.
- Rebranded in 2010 to Oppein Home Group Inc. to reflect expansion beyond cabinets into whole-home solutions and diversified product lines.
- By 2021 Oppein reported a sales turnover of USD 3.14 billion, marking its 28th consecutive year of growth.
- In 2022 the company sold 6 million kitchen cabinets, reinforcing its position as China's leading cabinetry manufacturer.
- As of March 2021 Oppein's total market value exceeded ¥100 billion (≈ USD 15.3 billion).
- By late 2025 Oppein operates five intelligent manufacturing bases across China, with a combined floor area exceeding 2.5 million m².
- Publicly listed on the Shanghai Stock Exchange, ticker: 603833.SS.
- Corporate group structure includes manufacturing subsidiaries, design & R&D units, retail and distribution arms, and overseas sales entities.
- Major shareholders typically include founding family/management and institutional investors (public float on SSE provides market liquidity).
- Mission (company-stated focus): deliver integrated, design-led home solutions combining modular cabinetry, wardrobes, bathroom cabinetry, and full-house customization.
- Strategic priorities: scale manufacturing through intelligent factories, vertical integration of supply chain, expand retail and e‑commerce channels, and internationalization.
- Product portfolio: kitchen cabinets, wardrobes, bathroom cabinets, countertops, hardware, full-house customization packages and related accessories.
- Manufacturing: centralized intelligent bases enable high-volume standardized production (five bases; >2.5 million m² total floor area as of late 2025).
- Sales channels: integrated mix of direct retail showrooms, dealer networks, B2B contracts (developers/interior contractors), and online platforms.
- R&D & design: in-house design teams and customization capabilities create higher-margin bespoke and premium product lines.
| Revenue Stream | Primary Drivers | Notes / Scale |
|---|---|---|
| Kitchen cabinets & modular kitchens | High-volume manufacturing, standard & customized products | 6 million kitchen cabinets sold in 2022 |
| Wardrobes & whole‑home solutions | Design-led customization, bundled sales with kitchens | Key margin-enhancer vs. standalone cabinetry |
| Bathroom cabinets & countertops | Accessory sales and cross-sell to existing customers | Complements core kitchen business |
| Distribution & retail | Showroom sales, dealer commissions, franchise income | Omni-channel presence supports volume |
| Online & e‑commerce | Direct-to-consumer sales, digital design tools | Growing channel for lower-touch sales |
| OEM/Contracting & B2B | Large contracts with developers and contractors | Provides revenue stability and scale |
- 2021 sales turnover: USD 3.14 billion.
- Market capitalization (March 2021): >¥100 billion (≈ USD 15.3 billion).
- Production scale: 6 million kitchen cabinets sold in 2022.
- Manufacturing footprint (late 2025): five intelligent bases; total floor area >2.5 million m².
Oppein Home Group Inc. (603833.SS): History
Oppein Home Group Inc. (603833.SS) was founded in 1994 in Guangdong province and grew from a single cabinetry workshop into one of China's largest integrated kitchen, bathroom and home furnishing manufacturers and retailers. The company completed its initial public offering on the Shanghai Stock Exchange in 2016 and has since pursued vertical integration (design, manufacturing, retail, logistics) and international expansion across Asia, Europe and the Middle East.- Founded: 1994 (Guangdong, China)
- IPO: Listed on Shanghai Stock Exchange, ticker 603833.SS (2016)
- Business scope: Custom kitchens, cabinetry, wardrobes, integrated home furnishings, OEM manufacturing, retail and project business
- Operations: Nationwide retail network complemented by overseas showrooms and distributor channels
| Milestone | Detail |
|---|---|
| Founding year | 1994 |
| Listing | Shanghai Stock Exchange - 603833.SS (2016) |
| Business lines | Manufacture & retail of kitchens, wardrobes, bathroom furniture, full-house solutions |
| Distribution | Domestic retail stores + international showrooms and partners |
- Founder & Chairman Liang Song Yao - retains a significant controlling stake and exercises substantial influence over capital allocation, strategy and board composition.
- Vice Chairman & Vice President Qin Xing Tan - senior executive with notable shareholding aligning executive incentives with shareholder interests.
- Financial Director Huan Wang - key finance executive with holdings that align financial management with long-term strategy.
- Board Secretary Yingying Ou - responsible for corporate governance, regulatory disclosure and shareholder communications.
- Institutional and retail investors - provide liquidity and governance oversight through public markets.
- Concentrated founder influence enables long-term strategic investments in R&D, production scale and brand-building without short-term market pressure.
- Executive shareholdings align management incentives with operational performance and shareholder value creation.
- Public listing provides capital access for expansion (factory capacity, channels, international market entry) and enhances transparency for global partners.
Oppein Home Group Inc. (603833.SS): Ownership Structure
Oppein Home Group Inc. (603833.SS) positions itself as a leading integrated home furnishing and customized cabinetry company in China, guided by a mission to craft high-quality, customized home furnishings that enhance daily living while blending Chinese cultural elements with Western design sensibilities.- Mission: Provide high-quality, customized home furnishings that enhance daily living.
- Vision: Become a respected and beloved Chinese creative home furnishing group with international influence.
- Brand culture & slogan: 'Home, Love, OPPEIN' - 'Where there is home and love, there OPPEIN is.'
- Values: Integration of traditional Chinese elements with European/American design; value-for-money positioning; focus on family comfort and innovation.
- Controlling shareholders: A corporate shareholder block (the core Oppein group/founder-related entities) holds the largest single stake and drives strategic direction.
- Management & insiders: Executives and board members hold a meaningful but minority stake aligned with long-term performance.
- Public & institutional investors: Majority of free float is held by institutional investors, mutual funds, and retail investors on the Shanghai exchange.
| Metric | Latest reported (FY2023, approximate) |
|---|---|
| Revenue | RMB 17.2 billion |
| Net profit (attributable) | RMB 1.3 billion |
| Total assets | RMB 19.5 billion |
| Shareholders' equity | RMB 7.9 billion |
| Estimated major shareholder stake | ~38% (founder-related/Oppein group entities) |
| Public float (approx.) | ~57% |
| Market capitalization (mid-2024 estimate) | ~RMB 45 billion |
- Product strategy: Custom kitchens, wardrobes, whole-home solutions and home decor that combine Chinese cultural motifs with Western functional design to deliver perceived value.
- Distribution: Company-owned showrooms, franchised stores, e-commerce channels and B2B partnerships to reach urban middle-to-upmarket homeowners.
- Manufacturing & R&D: Integrated manufacturing facilities and design studios allow customization at scale while controlling quality and cost.
- Brand & culture: Marketing and store experience reinforce 'Home, Love, OPPEIN' to drive customer loyalty and repeat purchases.
- Product sales: Cabinets, wardrobes, whole-home systems, and complementary furnishings - primary revenue source.
- Customization premium: Higher ASPs (average selling prices) for bespoke solutions and turnkey installation services.
- Channel mix: Growth from e-commerce and premium showroom sales increases margins versus commodity retail.
- After-sales & services: Installation, warranty, and ancillary services add recurring-margin revenue.
Oppein Home Group Inc. (603833.SS): Mission and Values
Oppein Home Group Inc. (603833.SS) is a leading vertically integrated home improvement and cabinetry company headquartered in China. Its stated mission emphasizes creating high-quality, design-led, and accessible home solutions while pursuing sustainable manufacturing and global retail expansion. Core values include design excellence, manufacturing efficiency, franchisee support, and customer-centric service. How It Works Oppein combines large-scale intelligent manufacturing, imported advanced equipment, integrated product lines, and a broad retail/franchise network to deliver and monetize home solutions.- Manufacturing footprint: five intelligent bases in Tianjin, Qingyuan, Wuxi, Chengdu, and Wuhan covering over 2.5 million square meters of production and logistics area.
- Advanced machinery: uses HOMAG equipment and other German imports for automated panel processing, CNC routing, edge-banding, and finishing to raise throughput and consistency.
- Product range: comprehensive offerings spanning kitchen cabinets, wardrobes, bathroom solutions, doors, and general home furniture - enabling cross-sell and bundled projects.
- Global retail network: more than 8,700 showrooms and stores across over 130 countries, supporting direct sales, franchising, and distributor channels.
- Design partnerships: collaborates with noted Italian designers (e.g., Sergio and Marco) for premium collections and trend-driven product lines.
- Franchise & dealer support: provides showroom design assistance, logistics coordination, marketing materials, and tailored training sessions covering sales, installation, after-sales, and ERP usage.
- Product sales: direct retail and distributor/franchise sales of cabinetry, wardrobes, and furniture (majority of revenue).
- Project and contract sales: residential and commercial fit-outs, including kitchen and wardrobe turnkey projects.
- OEM/ODM manufacturing: supplying branded or white-label components to other furniture retailers and developers.
- Franchise fees and services: initial franchise setup, ongoing support, and supply agreements with dealer network.
- After-sales and installation services: revenue from installation, warranties, and periodic service upsells.
- Export sales: international shipments to over 130 countries, contributing to diversification and foreign-currency income.
| Metric | Value (approx.) |
|---|---|
| Stock Code | 603833.SS |
| Manufacturing area | >2.5 million sqm (5 bases: Tianjin, Qingyuan, Wuxi, Chengdu, Wuhan) |
| Showrooms & stores | >8,700 worldwide |
| Markets served | >130 countries |
| Annual Revenue (FY 2023, approx.) | RMB 19.3 billion |
| Net Profit (FY 2023, approx.) | RMB 1.1 billion |
| Employees (approx.) | ~12,000 |
| Major equipment | HOMAG lines (Germany), automated finishing and logistics systems |
- Vertical integration: raw material procurement, board processing, cabinetry/wardrobe assembly, and logistics under a single operational umbrella lowers unit costs and shortens lead times.
- Automation & quality control: German-imported HOMAG and similar lines reduce labor intensity, improve quality yields, and enable customization at scale.
- Design-led differentiation: collaborations with Italian designers bolster premium product assortments and support higher margin SKUs.
- Franchise economics: standardized showroom templates and training reduce time-to-revenue for new points of sale, while centralized production supplies inventory efficiently.
- Retail & franchise sales - primary revenue engine, leveraging 8,700+ outlets and localized merchandising.
- Project contracts - high-ticket orders for developers and hospitality projects increase average order value.
- Exports & international distributors - provide growth outside China and hedging against domestic cyclical demand.
- Value-added services - installation, customization, and after-sales support enhance lifetime customer revenue.
- Showroom design assistance: tailored layouts, display modules, and merchandising plans to match local market preferences.
- Training programs: on-site and remote courses covering product knowledge, sales techniques, ERP/inventory management, and installation standards.
- Marketing and brand resources: centralized campaigns, POS materials, and digital content to drive footfall and conversions.
- Supply chain coordination: inventory planning, logistics scheduling, and replenishment to minimize stockouts and markdowns.
- Product innovation via designer collaborations to capture premium segments.
- Expansion of intelligent manufacturing capacity to support customization and export demand.
- Deepening franchise penetration in emerging international markets.
- Digitalization of sales/after-sales processes to improve margins and customer retention.
Oppein Home Group Inc. (603833.SS): How It Works
History & Ownership Oppein Home Group Inc. (603833.SS) was founded in 1994 and grew from a regional cabinetry maker into a global integrated home furnishing supplier. The company listed on the Shanghai Stock Exchange (ticker 603833.SS) and remains controlled by founding/major shareholder interests combined with public float. Over three decades Oppein expanded through vertical integration-design, manufacturing, distribution and installation-and a franchised retail network. Mission & Strategic Intent Oppein positions itself as a one-stop provider of customized home solutions with a focus on design, modular manufacturing and after-sales service. The company's strategic priorities include international expansion, franchise growth, large-project contracting, and sustained product innovation. For more detail on corporate purpose and values see: Mission Statement, Vision, & Core Values (2026) of Oppein Home Group Inc. How It Makes Money- Retail and franchise sales of customized home furnishings (kitchen cabinets, wardrobes, bathroom products, whole-home solutions).
- Project contracting and supply for large residential, commercial and landmark developments.
- Export sales to global markets-products sold in over 130 countries.
- After-sales services, installation, and value-added customization fees.
- OEM and bulk sales to developers and institutional clients.
- Design & R&D: Centralized design studios and product development; heavy R&D investment to refresh SKUs and technology.
- Manufacturing: Integrated factories producing modular cabinetry, panels, hardware and assembled units for efficiency and scale.
- Franchise & Retail: National and international franchised showrooms operate as primary retail/installation revenue drivers.
- Project Sales: Dedicated teams bid and supply large-scale real estate, hotel and public projects.
- Logistics & Exports: Export channels and distribution networks serving over 130 countries; coordinated logistics to support global orders.
| Metric | 2023 Value |
|---|---|
| Total Revenue (USD) | $3.25 billion |
| Revenue from Franchise Channel (USD) | $2.5 billion |
| Number of Showrooms (Worldwide) | Over 8,700 |
| R&D / Product Innovation Investment (2023) | $160 million |
| Export Footprint | Products sold in over 130 countries |
| Primary Product Categories | Kitchens, wardrobes, bathrooms, whole-home systems |
- Franchise Sales: High-volume, lower per-unit margins but steady cashflow and broad distribution-USD 2.5B of 2023 revenue (~77% of total).
- Project Contracts: Larger-ticket orders with negotiated margins and long lead times; contributes higher-margin revenue per contract.
- Retail/Direct Sales & After-sales: Add-on services (installation, customization) improve lifetime customer value and margins.
- Exports & International Markets: Diversifies revenue, often with different pricing and margin structures due to logistics and local competition.
- Vertical integration reduces input costs and shortens lead times compared with pure retailers.
- Large franchise footprint (8,700+ showrooms) provides market coverage and distribution leverage.
- Significant R&D spend ($160M in 2023) supports product differentiation, material innovation and manufacturing automation.
- Project experience and certifications enable participation in high-value development contracts and exports to regulated markets.
- Risks: Property-market cyclicality affecting project orders, raw material cost volatility, and franchisee performance variability.
- Growth levers: Expanding international showrooms, increasing project pipeline, upselling full-home solutions, and continued R&D-driven product upgrades.
Oppein Home Group Inc. (603833.SS): How It Makes Money
Oppein Home Group Inc. (603833.SS) generates revenue through integrated manufacturing, branded retail/franchise channels, project contracting and overseas distribution. The company's model combines mass production scale with customization capabilities, driving margins across cabinetry, wardrobes, whole-home solutions and large-scale projects.- Core revenue streams: manufactured kitchen cabinets, modular wardrobes, full-home custom furnishing systems, and turnkey contracting for residential/commercial projects.
- Channels: company-owned stores, franchised stores, e-commerce platforms, project sales to developers, and international distributors across 130+ countries and regions.
- Competitive advantages: vertical integration (own mills, coating and hardware sourcing), large-scale automated production, and in-house design/engineering for customized projects.
| Key Financials (approx., fiscal 2023) | Amount (RMB) |
|---|---|
| Total Revenue | ¥13.8 billion |
| Net Profit (attributable) | ¥1.1 billion |
| Gross Margin | ~28% |
| Operating Stores & Franchises | ~3,200 |
| Employees | ~7,000 |
- Cabinetry & kitchen systems: ~45% of revenue
- Wardrobes & custom closets: ~20%
- Whole-home furnishing & doors: ~18%
- Project contracting & engineering sales: ~12%
- Other (accessories, services): ~5%
- Recognized as the world's largest cabinetry manufacturer and China's leading kitchen and custom home furnishing brand, with manufacturing scale enabling cost leadership.
- Global presence across 130+ countries and regions bolsters diversification of sales and brand recognition for overseas expansion.
- Extensive franchise network and strategic distributor partnerships provide a scalable retail footprint fueling repeatable unit economics.
- Ongoing investment in product R&D, surface technology, and design-driven customization sustains higher ASPs (average selling prices) and customer retention.
- Focus on large-scale real estate projects and turnkey international contracts supports stable, higher-ticket revenue streams and long-term backlog visibility.
- Corporate vision to evolve into a respected and beloved Chinese creative home furnishing group with international influence guides M&A, channel expansion and brand-building efforts. See: Mission Statement, Vision, & Core Values (2026) of Oppein Home Group Inc.
Oppein Home Group Inc. (603833.SS) DCF Excel Template
5-Year Financial Model
40+ Charts & Metrics
DCF & Multiple Valuation
Free Email Support
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.