Wang Yibo and Peng Yuyan can't drive the sales of "Massage Chair Duo"

# massage chair # Wang Yibo # Peng Yu Yan # star endorsement # one end is Wang Yibo, one end is Peng Yu Yan, the endorsement of two popular stars also failed to pull the head massage chair manufacturers sales. As of October 31, Rongtai Health and Ao Jiahua have disclosed 2022 three quarterly reports, the first three quarters of the two revenue, net profit double decline. Before 2018, Rongtai Health and OJH were representatives of the sunrise industry, with annualized growth of more than 20% for many years. However, in the past three years, Rongtai Health and OJH's performance has been mostly volatile. By the third quarter of 2022, the revenue and net profit of the two have both declined, and the massage chair duo is not selling. 2021 October, Rongtai massage chairs officially announced that Wang Yibo became the global spokesman for its brand. In the 2021 financial report, Rongtai health side praised, and the cooperation with the top stream star Wang Yibo is an important initiative of the company in 2021. The large number of potential customers among the fans placed orders for purchases, resulting in significant direct sales conversion for Rongtai Health. However, this situation took a sharp turn for the worse this year. According to Rongtai Health's latest 2022 third quarterly report, the company achieved total operating revenue of 1.562 billion yuan in the first three quarters, down 16.24% year-on-year; achieved a net profit attributable to the mother company of 126 million yuan, down 33.37% year-on-year; and achieved a net profit of 109 million yuan from deductions, down 25.17% year-on-year. The industry's first listed company OJWA massage chair business is also not doing well. Aojiahua, once named "Xiamen Mengfali Technology (Group) Co. In 2019, the brand of Ao Jiahua was renewed and a new spokesman, Peng Yu Yan, was launched to dialogue with young intelligent consumer groups. However, Ao Jiahua 2022 third quarterly report shows that the company achieved revenue of 4.696 billion yuan in the first three quarters, down 19.39% year-on-year; achieved net profit attributable to the mother of 0.68 billion yuan, down 77.57% year-on-year; achieved a deduction of non-net profit of 116 million yuan, down 46.46% year-on-year. Massage chairs are the main source of revenue generation for Rongtai Health as well as Aojiahua at present. According to the 2021 financial report, over 90% of Rongtai Health's revenue comes from massage chairs, and other revenue consists of massage small appliances and experiential massage services. 2021, the health care massage segment, including massage chairs, contributed 70% of Ao Jiahua's revenue. In response to the reasons for the decline in performance, the epidemic factor is the reason mentioned by Rongtai Health as well as Ao Jiahua. Aojiahua securities department related person told Beijing Business News that the price of raw materials, including plastic rice, steel, and the epidemic factors have had an impact on the company. Rongtai health securities affairs department related person said, massage chairs belong to optional consumption, by the epidemic, the company's performance has declined. Although both mentioned the epidemic factor, but before the epidemic, the performance of the two also fluctuated. Aojiahua 2019 financial report shows that the company's revenue and net profit declined by 3.13% and 34.19% respectively. 2019, Rongtai Health's net profit after deductions fell by 3.97% year-on-year. According to industry sources, the popularity of massage chairs in Europe and the United States is high, and as China's aging process accelerates and people's living standards improve, the demand for their own health care will also increase, and domestic manufacturers have looked at this market one after another. When the sharing economy led to the rise of sharing massage chairs, manufacturers also hope to share massage chairs to allow consumers to experience the benefits of massage chairs, and then gradually pushed to home. Therefore, Rongtai health and Ao Jiahua was also previously regarded as a representative of the sunrise industry. In addition to the impact of the epidemic factor, in the view of the above-mentioned industry insiders, the emergence of emerging brands on the two head enterprises also brought competition. Previously, massage chairs are talking about high-end, branding, and many small manufacturers are mainly labeled production of massage chairs, taking the civilian route, the price gap will be large. For example, Rongtai health better massage chairs need 20-30,000 yuan, but some manufacturers as long as a few thousand dollars, the market after more such manufacturers, will also produce a certain amount of competition. For the competition of small brands, Rongtai Health Securities Affairs Department, said that this piece is mainly reflected in the online, Rongtai Health is online and offline are done, and low-cost massage chairs offline do not do up. Beijing Business News reporter noted that, for the low-cost market, Ao Jiahua launched a sub-brand easy partner, focusing on the sinking market.