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Nova Lifestyle Inc   (NVFY)
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Nova Lifestyle Inc's Suppliers Performance

NVFY's Supply Chain

 
NVFY Costs vs Sales of Suppliers Growth Nova Lifestyle Inc's Suppliers recorded an increase in sales by 17.24 % year on year in Q2 2022, from the previous quarter, sales fell by -48.31 %, Nova Lifestyle Inc's cost of sales deteriorated by 0 % year on year, sequentially cost of sales grew by 250 % in Q2.

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Nova Lifestyle Inc's Suppliers recorded an increase in sales by 17.24 % year on year in Q2 2022, from the previous quarter, sales fell by -48.31 %, Nova Lifestyle Inc's cost of sales deteriorated by 0 % year on year, sequentially cost of sales grew by 250 % in Q2.

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  News about Nova Lifestyle Inc Contracts



Nova Lifestyle Inc's Comment on Supply Chain


We source finished goods from Nova Dongguan and third party manufacturers to provide products we do not manufacture currently or to fulfill orders placed by customers through Nova Macao and Diamond Bar for the U.S. and international markets. Our major raw material purchases for our manufacturing business include MDF board, particleboard, stainless and carbon steel, leather, glass and lacquers. The majority of our raw materials are sourced in China through suppliers with whom we have long-standing relationships and that are located in Guangdong, Jiangsu, Shanghai and Zhejiang Provinces. Our principal suppliers of finished goods and raw materials were Yin Tong Furniture Limited and Zhejiang Luxury Trading Company Limited accounting for approximately 17% and 19% of our total purchases, respectively.

As our major raw material purchases consist of common and readily available materials, we seek to maintain multiple quality suppliers for each type of raw material purchased. By maintaining relationships with multiple suppliers, we benefit from a more stable supply chain and more competitive prices. If a change of suppliers is necessary, we believe that we can quickly fulfill our requirements from other suppliers without impacting production. We do not maintain fixed supply contracts nor do we engage in hedging transactions to protect against raw material price fluctuations. Instead, we attempt to negotiate pricing commitments from suppliers for three to six month-long periods. We normally can pass through raw material cost increases to our customers, but there may be a time lag as we renegotiate pricing with our customers on existing products and introduce new product collections. We typically order raw materials according to our customer purchase orders for international markets to minimize our inventory, but we may attempt to mitigate short-term risks of raw material price swings in between customer price negotiations by purchasing some raw materials in advance based on forecasted production needs. In addition, we are less susceptible to these short-term raw material pricing risks in the China retail market because we reserve the right under our product franchise agreements to adjust our wholesale and retail product pricing based on raw material price fluctuations, providing franchisees with at least one month’s notice prior to price adjustment. Accordingly, we are able to maintain MDF board, steel and leather inventory for the purpose of decreasing the production period on customer orders for the China retail market.

We hold our suppliers to strict quality and delivery specifications. Our quality control procedures include quality assurance of raw materials used in the production of our products, which includes an evaluation and selection of established and reputable suppliers. We require our suppliers of MDF board, particleboard, polyurethane lacquer, or PU lacquer, and nitrocellulose lacquer, or NC lacquer, to provide raw materials in compliance with all PRC, U.S. and European formaldehyde emission standards, and we regularly test for their compliance.


Nova Lifestyle Inc's Comment on Supply Chain


We source finished goods from Nova Dongguan and third party manufacturers to provide products we do not manufacture currently or to fulfill orders placed by customers through Nova Macao and Diamond Bar for the U.S. and international markets. Our major raw material purchases for our manufacturing business include MDF board, particleboard, stainless and carbon steel, leather, glass and lacquers. The majority of our raw materials are sourced in China through suppliers with whom we have long-standing relationships and that are located in Guangdong, Jiangsu, Shanghai and Zhejiang Provinces. Our principal suppliers of finished goods and raw materials were Yin Tong Furniture Limited and Zhejiang Luxury Trading Company Limited accounting for approximately 17% and 19% of our total purchases, respectively.

As our major raw material purchases consist of common and readily available materials, we seek to maintain multiple quality suppliers for each type of raw material purchased. By maintaining relationships with multiple suppliers, we benefit from a more stable supply chain and more competitive prices. If a change of suppliers is necessary, we believe that we can quickly fulfill our requirements from other suppliers without impacting production. We do not maintain fixed supply contracts nor do we engage in hedging transactions to protect against raw material price fluctuations. Instead, we attempt to negotiate pricing commitments from suppliers for three to six month-long periods. We normally can pass through raw material cost increases to our customers, but there may be a time lag as we renegotiate pricing with our customers on existing products and introduce new product collections. We typically order raw materials according to our customer purchase orders for international markets to minimize our inventory, but we may attempt to mitigate short-term risks of raw material price swings in between customer price negotiations by purchasing some raw materials in advance based on forecasted production needs. In addition, we are less susceptible to these short-term raw material pricing risks in the China retail market because we reserve the right under our product franchise agreements to adjust our wholesale and retail product pricing based on raw material price fluctuations, providing franchisees with at least one month’s notice prior to price adjustment. Accordingly, we are able to maintain MDF board, steel and leather inventory for the purpose of decreasing the production period on customer orders for the China retail market.

We hold our suppliers to strict quality and delivery specifications. Our quality control procedures include quality assurance of raw materials used in the production of our products, which includes an evaluation and selection of established and reputable suppliers. We require our suppliers of MDF board, particleboard, polyurethane lacquer, or PU lacquer, and nitrocellulose lacquer, or NC lacquer, to provide raw materials in compliance with all PRC, U.S. and European formaldehyde emission standards, and we regularly test for their compliance.



NVFY's Suppliers Net Income grew by NVFY's Suppliers Net margin grew in Q2 to
36.24 % 11.27 %


Nova Lifestyle Inc 's Suppliers Sales Growth in Q2 2022 by Industry

Suppliers from Chemical Manufacturing Industry      38.03 %
Suppliers from Containers & Packaging Industry      21.3 %
Suppliers from Aluminum Industry      33.91 %
Suppliers from Forestry & Wood Products Industry -1.42 %   
Suppliers from Iron & Steel Industry      25.17 %
Suppliers from Metal Mining Industry  
Suppliers from Miscellaneous Fabricated Products Industry      34.3 %
Suppliers from Paper & Paper Products Industry      0.43 %
Suppliers from Auto & Truck Parts Industry      43.76 %
Suppliers from Furniture & Fixtures Industry      7.79 %
Suppliers from Recreational Products Industry      22.12 %
Suppliers from Electric & Wiring Equipment Industry      6.56 %
Suppliers from Office Supplies Industry      33.08 %
Suppliers from Renewable Energy Services & Equipment Industry      7.94 %
Suppliers from Real Estate Investment Trusts Industry -5.38 %   
Suppliers from Biotechnology & Pharmaceuticals Industry      277433.33 %
Suppliers from Medical Equipment & Supplies Industry -30.15 %   
Suppliers from Professional Services Industry    
Suppliers from Cruise and Shipping Industry      44.14 %
Suppliers from Communications Equipment Industry      5.15 %
Suppliers from Computer Peripherals & Office Equipment Industry      19.08 %
Suppliers from Electronic Instruments & Controls Industry      17.21 %
Suppliers from Software & Programming Industry      27.3 %
Suppliers from Consumer Electronics Industry      88.27 %
Suppliers from Marine Transportation Industry      27.55 %
Suppliers from Specialty Retail Industry -9.73 %   
     
• NVFY Suppliers Valuation • NVFY Suppliers Mgmt. Effect.





NVFY's vs. Suppliers, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Nova Lifestyle Inc 10.59 14.18 -17.86 726
Williams sonoma Inc 18,477.43 5,401.17 950.32 28,100
Matson inc 3,659.83 3,094.60 297.10 1,056
Performance Shipping Inc 11.93 75.17 13.03 0
Costamare Inc 1,367.36 793.64 435.12 6
Global Ship Lease Inc 729.21 447.95 171.50 8
Sfl Corporation Ltd 1,635.47 752.29 83.94 7
Capital Product Partners L p 0.00 299.07 127.58 1
Tsakos Energy Navigation Limited 710.90 860.40 208.47 1
Expeditors International Of Washington Inc 17,350.16 10,463.87 807.37 19,070
Danaos Corporation 1,443.95 689.51 1,052.84 1,287
Emerson Electric Co 63,670.70 15,837.00 11,006.00 85,500
Masco Corporation 16,687.32 7,967.00 960.00 20,000
The Odp Corporation 1,960.39 8,132.00 193.00 56,000
Uniroyal Global Engineered Products Inc 0.00 69.88 2.86 415
Leggett and Platt Inc 2,518.49 4,724.80 -136.80 22,000
Alcoa Corp 5,545.79 10,619.00 -966.00 61,000
International Paper Company 12,271.61 18,916.00 288.00 31,000
Louisiana pacific Corporation 5,608.45 2,581.00 178.00 4,500
Weyerhaeuser Company 24,988.99 7,723.00 631.00 9,214
United States Steel Corp 9,772.09 18,053.00 895.00 34,680
Beam Therapeutics Inc 2,691.97 81.55 -313.67 0
Bassett Furniture Industries Incorporated 130.36 389.49 -3.17 2,237
Ethan Allen Interiors Inc 818.88 704.51 80.11 5,200
Flexsteel Industries Inc 175.23 391.67 15.24 1,460
Unique Fabricating Inc 1.97 134.91 -23.36 734
Ferro Corporation 1,914.77 1,126.26 150.54 4,846
Applied Biosciences Corp. 0.00 0.86 -0.96 1
Hooker Furnishings Corporation 245.65 477.68 7.43 645
Kimball International Inc 458.82 703.89 -19.46 3,081
La z boy Incorporated 1,545.95 2,052.87 118.95 8,700
Hg Holdings Inc 17.05 13.81 1.21 71
Tempur Sealy International Inc 9,306.91 4,924.70 370.70 7,200
Virco Mfg Corporation 166.74 264.52 28.33 695
Topgolf Callaway Brands Corp 2,639.10 4,284.80 95.00 0
Knoll Inc 1,233.57 1,187.70 6.40 3,386
Steelcase Inc 1,509.20 3,186.10 75.50 11,000
Century Aluminum Company 1,125.19 2,184.90 -52.30 1,778
Novelis Inc 0.00 16,530.00 590.00 11,970
Remitly Global Inc 3,651.23 944.29 -117.84 0
Clearwater Paper Corporation 678.34 2,082.80 251.90 3,300
Boise Cascade Company 5,300.26 6,308.94 381.43 5,910
Koppers Holdings Inc 1,141.00 2,218.70 82.70 742
Ufp Industries inc 7,280.03 7,217.94 514.46 9,300
Arconic Corporation 3,050.71 8,141.00 -254.00 0
Solitario Resources Corp 34.35 0.19 -3.38 5
Huntsman Corporation 4,431.60 6,111.00 153.00 15,000
Quaker Chemical Corporation 3,579.64 1,969.76 16.70 2,020
Westlake Corporation 18,608.50 12,548.00 522.00 8,870
Westlake Chemical Partners Lp 796.41 1,190.79 334.63 141
Yunhong Green Cti Ltd 35.77 15.16 -0.80 0
Kaiser Aluminum Corporation 1,262.76 3,141.30 13.20 2,760
Trecora Resources 231.52 301.32 8.99 310
Alarm com Holdings Inc 3,854.04 881.68 80.34 784
Channeladvisor Corporation 691.67 174.03 37.23 737
Everbridge Inc 1,524.47 450.00 -11.85 581
George Risk Industries Inc 64.45 20.02 6.65 175
Arcelormittal 22,350.25 68,275.00 1,022.00 0
Patrick Industries Inc 2,498.94 3,467.23 142.90 0
Zoominfo Technologies Inc 6,306.86 1,100.40 107.30 2,742
Jamf Holding Corp 2,238.00 560.51 -110.09 1,800
Hello Group Inc 2,367.51 2,287.25 -459.11 2,394
Ncr Voyix Corporation 1,767.26 3,830.00 -423.00 0
Mobivity Holdings Corp 23.38 6.59 -11.86 37
Snap One Holdings Corp 596.78 1,060.98 -21.37 1,492
Arlo Technologies Inc 1,121.08 490.56 -22.04 355
Sony Group Corporation 110,513.71 81,604.37 6,672.86 108,900
Sonos Inc 2,288.53 1,654.49 -10.27 1,844
Vizio Holding Corp 2,251.97 1,679.30 28.20 900
Pactiv Evergreen Inc 2,367.13 5,712.00 -215.00 14,000
SUBTOTAL 425,299.56 381,586.18 27,040.68 621,948


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