Awesome! Another cross-border bestseller is coming soon! The product gross profit margin is twice as high as that of its peers!

If nothing unexpected happens, Amazon's home furnishings category is selling well. Guangdong Taili Technology Group Co., Ltd. (hereinafter referred to as Taili Group) , headquartered in Zhongshan, has recently updated its IPO status to " submitted for registration " after queuing in the GEM for more than two years, and is one step closer to ringing the bell!

Another big seller is about to ring the bell

At the end of 2022, Taili Group submitted a prospectus to the Shenzhen Stock Exchange, intending to list on the ChiNext, and planned to raise 542 million yuan. The funds raised will be invested in Taili Wuhan production and logistics center construction projects, R&D center construction projects, information system upgrade projects, and supplementary working capital projects. The sponsor is Minsheng Securities Co., Ltd.

On February 12, 2025, the official website of the Shenzhen Stock Exchange showed that the review status of the Shenzhen Stock Exchange's Growth Enterprise Market IPO that Taili Group had previously applied for had been changed to "submitted for registration", which also means that the big seller is one step closer to ringing the bell for listing.

It is understood that Taili Group was formerly known as Zhongshan Taili Household Products Manufacturing Co., Ltd., which was established in April 2003. Since its establishment, Taili Group has been committed to the field of multi-category home storage products. The company's main businesses are:

The products are mainly aimed at household users, solving problems such as home storage, organization and item protection. They are sold domestically through Tmall and JD.com, and overseas through online e-commerce platforms such as Amazon and offline supermarkets such as IKEA, Walmart and Carrefour.

In terms of its own brands, it owns multiple brands such as "Taili", "LEVERLOC", "Yishang", etc. It is positioned as a high-end storage leader. "LEVERLOC" is a storage overseas brand , dedicated to making Chinese storage products go global, and "Yishang" focuses on fashionable and trendy designs to help young people create a refined and livable life.

Cross-border Knowledge learned that the global household goods market is currently huge and on a growth trend. According to Statista data, the global household goods market will reach US$650.7 billion in 2027, an increase of US$140.9 billion compared to 2020, an increase of 27.64%.

The revenue of the home furnishings e-commerce channel in the United States will reach 61.212 billion U.S. dollars in 2025. At the same time, the revenue of the home furnishings e-commerce channel in Europe will also reach 51.964 billion U.S. dollars in 2025. In the long run, the e-commerce channel will become a new growth point in the global home furnishings market.

From losses to an upcoming IPO

Due to fierce industry competition in the early days, the lack of brand advantages and low gross profit margins, Taili Group suffered losses for many years between 2013 and 2018.

Faced with the pressure of fierce competition in the industry, Taili Group has achieved continuous increase in net profit in the past two years through the research and development, production and sales of multiple categories of household storage products and related functional materials, especially gross profit margin which is twice as high as that of its peers , as well as continuously increasing revenue growth, which has given it the confidence to impact the IPO listing on the A-share Growth Enterprise Market.

Among them, the biggest contributor is the vacuum storage bag . During the reporting period, the company's revenue accounted for 54.46% of its main business revenue (2021).

In addition, the performance of its vertical wall storage products and other home products has continued to rise in the past three years. These three products together contribute more than 90% of the revenue.

In addition, with the help of its overseas distribution network, Taili Group's products have been exported to more than 160 countries and regions around the world . After officially entering the cross-border e-commerce industry in 2019, Taili Group also caught up with the industry trend and achieved good performance growth on many cross-border e-commerce platforms. Among them , Amazon, as the main battlefield, has become the main carriage to drive the company's performance growth .

On the Amazon platform, its vacuum storage bag products are also a well-known brand in the niche category, with a market share of 6.03% on Amazon.

Overall, many products under Taili Group have sold over a thousand units on Amazon and have been selected for Best Seller, Amazon's Choice, and #1 New Release lists.

Data shows that in the first half of 2024, Taili Group's revenue on the Amazon platform reached 91.762 million yuan, accounting for 23.12% of the total revenue , second only to Tmall and Douyin platforms.

Relying on the home furnishing sub-category, Taili Group, which has been deeply engaged in the home furnishing sub-category for more than 20 years, finally succeeded in turning losses into profits, and thus embarked on a unique path to going overseas.

Once fell into the quagmire of fake orders and opening multiple stores with multiple accounts

According to the prospectus, between 2019 and 2020, Taili Group engaged in a small amount of fake order trading, mainly by having company employees or their relatives or friends place orders for products on the platform, sending gifts to the purchasers, and then returning the fake order funds to the people involved.

In response to a small number of cases of false orders, the company has formulated a system prohibiting false orders, and has rectified and standardized the behavior of false orders. There has been no false order behavior since 2021.

At the same time, the prospectus also mentioned that the company's cross-border e-commerce business scale has continued to expand since 2019, and the business has grown rapidly. In the early stages of cross-border e-commerce business development, Taili Group adopted a multi-account store operation model that is more common in the cross-border e-commerce industry based on strategic considerations, registering multiple store companies in the name of employees and their immediate relatives and operating multiple stores on the Amazon platform.

The marketing model of opening a large number of stores to promote sales scale is a common practice in the cross-border e-commerce industry. Listed companies such as Youkeshu and Huakai Yibai have disclosed that their cross-border e-commerce businesses have similar models.

However, with Amazon's severe crackdown on this non-compliant behavior, it also avoids the platform from settling accounts later and then holding the company accountable, which may have an adverse impact on the company's overall operating performance. Since 2021, Taili Group has gradually transferred the store company's business to other subsidiaries and has successively closed the above-mentioned third-party stores that do not meet regulatory requirements.