Editor's Note
This editor’s note highlights the key facts and market implications behind “China’s Home Building Materials Industry in Turm”, with emphasis on sourcing, product fit, fabrication, logistics, or buyer impact.
China's home building materials industry is in turmoil, with multiple industry giants jumping to their deaths in succession. Image for illustration purposes. (Hector Retamal/AFP via Getty Images) Updated 2025-07-28 3:49 PM Several industry insiders have confirmed that Wang Linpeng, the 57-year-old chairman of the leading home furnishing company 'Easyhome Smart Home', jumped to his death recently, shocking the industry. Not long ago, another industry veteran, Zeng Yuzhou, the 53-year-old founder of Liangjiaju, also died by jumping.
Industry Confirms Death of Easyhome Smart Home’s Actual Controller
On the evening of July 27, news broke that Wang Linpeng, the actual controller, chairman, and CEO of Easyhome Smart Home, had fallen to his death that morning. Guanchazhe.com reported that multiple home furnishing industry insiders confirmed the news. An insider at Easyhome Smart Home said, 'He left early on July 27, and the matter is still under investigation.' However, as of before the market opened on July 28, Easyhome Smart Home had not officially responded to the incident. On July 28, when mainland Chinese stock markets opened, Easyhome Smart Home's shares hit the daily limit down, trading at 2.84 yuan per share. A company employee responded that they had not yet received relevant instructions from the company but had reported to the Shenzhen Stock Exchange. The company would issue an announcement as soon as possible, and everything should be based on the announcement content. On April 17 this year, Easyhome Smart Home issued an announcement stating that the company had received a notice from Wang Linpeng's family, informing that he had recently received a 'Detention Notice' and a 'Case Filing Notice' issued by the Wuhan Jianghan District Supervision Commission regarding Wang Linpeng. On April 18, Easyhome Smart Home's shares hit the daily limit down at the open. On the same day, the company learned that 372 million shares directly held by Wang Linpeng had been judicially frozen, including 279 million shares restricted for senior executives. The freeze started on April 17, 2025, and expires on October 16, 2025. The frozen shares accounted for 100% of Wang Linpeng's directly held shares and 5.97% of the company's total share capital. On July 23, Easyhome Smart Home issued an announcement stating that it had received a notice from Wang Linpeng's family that the Wuhan Jianghan District Supervision Commission had lifted the detention measures against Wang Linpeng. Wang Linpeng's death by jumping occurred just five days after his detention was lifted and he returned to his post. According to relevant information, Wang Linpeng was born in 1968 in Luotian County, Huanggang City, Hubei Province. He served as chairman and CEO of Beijing Easyhome Investment Holding Group Co., Ltd. and Easyhome Smart Home New Retail Group Co., Ltd., as well as president of the Beijing Hubei Enterprise Chamber of Commerce and honorary president of the Beijing Huanggang Enterprise Chamber of Commerce.
On the 2025 Hurun Global Rich List, Wang Linpeng ranked 2188th with a wealth of 12.5 billion yuan. In 2018, Easyhome received a joint investment of up to 13 billion yuan from Alibaba, Taikang Group, Jiahua Weiye Capital, Yunfeng Capital, and others. Among them, Alibaba and its related investors invested a total of 5.453 billion yuan, obtaining a 15% stake and becoming Easyhome's second-largest shareholder. Easyhome later pushed for digital transformation and renamed the company Easyhome Smart Home.
Mainland Home Building Materials Industry Continues to Shake: Multiple Industry Giants in Trouble
Over the past two months, bosses in mainland China's home building materials industry have frequently encountered trouble. In May, Che Jianxing, former home furnishing tycoon and general manager of Red Star Macalline, was placed under investigation by Yunnan authorities. On July 17, Zeng Yuzhou, known as the 'godfather of Guangzhou home furnishing' and 'principal of whole-house decoration', committed suicide by jumping. On July 16, Zeng Yuzhou, founder of Liangjiaju, posted on WeChat Moments saying, 'There is no retreat; persistence is victory.' But that evening, he left a message in the company's WeChat group: 'I'm sorry, everyone.' Then he jumped from the office building. On the evening of July 24, Fussenmei issued an announcement stating that its chairman, Liu Bing, had recently received a detention notice from Chengdu authorities. During Liu Bing's detention, the company's vice chairman, Liu Yunhua, would act as chairman. Fussenmei is a well-known home furnishing mall operator in Southwest China, with multiple malls in Chengdu. The news of Liu Bing's detention also triggered volatility in the company's stock price. On the morning of July 25, Fussenmei's shares opened lower, and by 10:10 AM, the stock price had fallen to 12.31 yuan per share, a decline of 4.87%. An article by blogger 'Baoyou District' stated that since the beginning of this year, the home furnishing, building materials, and decoration industries have experienced a cleansing collapse. Last month, the star decoration company Zhufan'er, founded by four Tsinghua alumni, announced a major blowup, leaving many renovation sites unfinished and sparking widespread complaints. Even decoration companies backed by large platforms are struggling. Dongyi Risheng, established 27 years ago and known as 'the first domestic decoration stock', saw its capital chain break last year, halting renovations for thousands of households. At the beginning of this year, Dongyi Risheng's headquarters building was auctioned off. Liu Wenchao, the 54-year-old chairman of Xizi Elevator, also chose to end his life in a decisive manner, jumping to his death on June 2. Shengdu Decoration, a decoration brand under Beike, announced it would no longer accept new business and closed stores in many cities. Meanwhile, 'Zhu Hao Jia' under ByteDance stopped signing contracts as early as the beginning of last year, just 14 months after its launch. Even home furnishing social platforms like 'Haohao Zhu' can no longer sustain operations. The industry has reached a point where nothing can grow. There is no way around it: the new construction area of real estate has returned to 2006 levels, shrinking by 70% compared to the peak in 2021.
Source: Read the original article | Published: July 28, 2025