We believe that the current custom home furnishing companies naturally reduce the number of customers entering the store and the industry is intensifying japan property agency. The home furnishing channel has also been impacted by online japan property agency, home improvement and engineering channels. In this context, customer acquisition is the first principle of stock selection japan property agency. I. Customized home wins customers: The store layout is also relatively complete. With the expansion of the market size japan property agency, major listed companies currently have plans to further accelerate store layout and accelerate channel sinking. 2. Customized homes won customers: The increase in the proportion of hardcover rooms with engineering orders filling the C-end means that domestic bulk business will become one of the important channels, but the direct connection with engineers can reduce related costs japan property agency; in general, the engineering channel has Large quantity, short supply chain japan property agency, high efficiency and long account period. In the past few years, Europa and Sofia have been actively developing engineering channels, and the proportion of bulk business in the company’s total revenue has also increased. At the forefront of the package. In addition to Shangpin ’s self-employed self-assembly model, there are four other cooperation models with home improvement companies, and Shangpin House with its unique genes and innovative cloud innovation model can achieve sustained growth. The revenue growth rate of Shangpin in 2018 is 6 percentage points higher than that of Sofia, and the revenue growth rate of Shangpin in 2019 is 5 percentage points higher than that of Sofia. In the future, the volume of the complete cloud will continue to contribute to revenue, and it is clearly proposed that the total renovation coverage and efforts to improve Fully decorated penetration rate. Driven by related policies, we believe that in the future, full decoration and refined decoration of residential buildings will be the general trend, and companies with a relatively large engineering channel will enjoy growth dividends. The development speed of refined decoration is fast and the market space is large: According to AVC Cloud Network (AVC) data, there is still much room for development of hardcover rooms in China. Hardcover room bonus still has 4-5 years. Hardcover room still has 2-3 years of high-speed growth period: In order to predict the hardcover room bonus period, we assume 1) the penetration rate will increase at a rate of 7%; Maintaining more than 20%, because it takes 2-3 years from sales to delivery, so the fine decoration still has a high-speed bonus period of at least 4-5 years for the home furnishing company. In the field of wooden doors and tiles, it has certain competitive advantages. While the market for fine decoration has grown, it has also enjoyed relatively rapid growth in 2019. We believe that the bonus of fine decoration has not endedStarting from the second half of 2018, the papermaking company entered the ice age. Terminal prices have fallen and profitability has declined. Although Q3 2019 has improved marginally, the overall value is still at the bottom.