Nova Lifestyle Inc (NVFY) |
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Nova Lifestyle Inc's Suppliers Performance
NVFY's Supply Chain
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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 % |
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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