Qumei Furniture debuts prospectus on Apr 22 stating that the company is applying to be listed in Shanghai Stock Exchange.
Qumei plans to raise 1.087 billion yuan through the IPO, 0.488 billion yuan will be used for the construction of its eastern factory in Shunyi, Beijing. The No 1, 2 &3 facilities of which have already started operation in Oct 2012.
In 2013, 40% of the company’s revenue comes from panel furniture, while the proportion of solid wood furniture has increased to 20% in 2013 and will keep on growing.
Qumei used to be the earliest and the most active furniture brands to try online retail, but the prospectus doesn’t mention the investment on e-commerce.
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