Oppein Home Group (603833) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 was RMB 2.65 billion, down 23.03% year-over-year due to weak downstream real estate demand and slow consumer recovery.

• Net profit attributable to shareholders fell 49.73% year-over-year to RMB 154.79 million.

• Operating cash flow turned negative at -RMB 363.68 million, compared to RMB 771.82 million in Q1 2025.

Financial highlights

• Total revenue: RMB 2,653 million, down from RMB 3,447 million year-over-year.

• Net profit: RMB 154.79 million, down from RMB 307.93 million year-over-year.

• Basic EPS: RMB 0.25, down 50.98% year-over-year.

• Gross margin decreased as cost of sales remained high relative to revenue.

• Cash and cash equivalents at period end: RMB 1,086.75 million.

Outlook and guidance

• Management attributes declines to continued weakness in the real estate sector and sluggish end-consumer recovery, impacting sales and order fulfillment.