In the first half of this year, the economic downturn and domestic demand contracted. The home appliance industry has a poor living environment. The semi-annual report of a listed company shows that the overall profit of the industry has fallen. The profits of black-and-white electricity and small household electrical appliances have fallen sharply, but the kitchen electricity industry's profit rate is nearly 50%, leading the entire industry. industry. According to the weighted average number of semi-annual reports of 51 listed companies in the A-share home appliance industry, the mid-term gross margin of the home appliance industry was 21.08%, slightly higher than 18.39% in the middle of last year.
Color TV industry profits lowest
Not more than 20%
Changhong released its semi-annual report, showing that its revenue for the first half of the year was 23.2 billion yuan, up 1% year-on-year; net profit was 147 million yuan, down 36% year-on-year. TCL Group's revenue increased by nearly 9% year-on-year to 29.81 billion yuan. However, due to the shrinking TCL communication performance of its holding subsidiary and the long-term loss of China Star Optoelectronics, the net profit attributable to shareholders of the listed company fell by 47.5% year-on-year in the first half of the year. It was 283 million yuan. The medium-term gross margin of these two companies is only about 15%. The successful loss of Konka, the first half of this year achieved sales of 7.039 billion yuan, an increase of 2.53%; to achieve a net profit attributable to the shareholders of listed companies 114.743 million yuan, an increase of 105.88%. In the same period last year, Konka lost a net loss of 195 million yuan. Gross profit margin also increased from 14.59% in the first half of last year to 19.36% in the first half of this year. However, the gross profit of color TV industry still does not exceed 20%.
TCL Group Chairman Li Dongsheng cheered for TCL. He said that in addition to the poor communication performance, multimedia and home appliance businesses performed well. However, the industry is not as optimistic as it seems. Ovid data shows that the average price of TV sales in August hit a new low for 13 months. Flat-panel TVs have grown rapidly in the past two years, overdrawing market demand. In the context of reduced demand, the competition has become more intense. The price war has caused gross loss to be very serious and the market outlook is not optimistic.
White electricity industry
Obvious pattern of oligopoly
In terms of white power, the net profits of the three giants Gree, Haier, and the United States all increased. Among them, Gree's profit growth is the most obvious, followed by Haier. In the first half of 2012, Gree achieved a total operating revenue of 48.303 billion yuan, a year-on-year increase of 20.04% and a net profit of 2.871 billion yuan, an increase of 30.08% year-on-year.
Qingdao Haier achieved total revenue of 40.47 billion yuan in January-June 2012, an increase of 6.3% year-on-year, and net profit of 1.852 billion yuan, a year-on-year increase of 21.26%. The data shows that Haier’s refrigerator market share has been more than doubled from the second place while maintaining its number one position in the world.
Because of its strategic transformation in recent years, Midea has focused on strategic shrinkage and the pursuit of quality growth, resulting in a substantial decline in revenue. In the first half of this year, the US realized total revenue of 38.990 billion yuan, a year-on-year decrease of 37.15%, but the net profit was 2.089 billion yuan, an increase of 5.73% year-on-year.
Industry sources pointed out that the performance report of the Big Three appliance giants in the first half of the year is still representative. Gree revenue and net profit have a certain growth rate within a reasonable range. In the first half of the year, the overall growth rate of the air-conditioning industry was 30%. Relatively speaking, positive growth has been relatively rare. The United States is in a strategic adjustment, and sales channels have been affected, but adjustments have yielded results. From an industry perspective, the market share of Gree, Midea, and Haier in the air-conditioning market totals more than 65%, and the oligarch pattern is increasingly evident.
Small household appliances industry
Significant decline in profits
In recent years, all home appliance industries have shown an optimistic view of the small household appliance industry, and the small home appliance industry can achieve a profit of up to 50%. However, many small household electrical appliances are not necessities, but to improve the demand, the economic environment is not good, consumer demand for small appliances is also gradually weakened. Neither the United States nor Galanz, the leading enterprise in the small home appliances industry, has been listed on the market and cannot obtain accurate data. However, the annual reports of Supor and Aishida can be seen.
Supor announced the results of the 2012 semi-annual report. In the first half of the year, the company achieved sales revenue of 3.338 billion yuan, a year-on-year decrease of 4.04%; the net profit attributable to the parent company's shareholders was 220 million yuan, a year-on-year decrease of 4.81%; Supor said that the performance decline was affected by exports. Reduced, increased personnel costs and the impact of the "stainless steel incident." In addition to Supor, ASD's interim results are also not optimistic, ASD's mid-term operating income of 872 million yuan, while the net profit is only 16.5586 million yuan, a year-on-year decrease of 48.89%. These companies believe that the domestic and international economic downturn is the main reason for the decline in performance.
In addition, the lack of premium capacity of small household electrical appliances is also a key factor. Take rice cookers as an example. The price of a rice cooker for domestic companies is around 500 yuan, while the price of foreign brands such as Toshiba can reach 10,000 yuan, and the profits of the two products. The difference between heaven and earth. In response to this phenomenon, Dean Xu, president of the China Household Electrical Appliances Research Institute, told reporters that improving the innovation ability and process design level of small household electrical appliances is the next important task for Chinese enterprises. Only in this way can the competitiveness be improved.
Kitchen electricity is very profitable
Nearly 50%
Companies with higher gross profit margins are still concentrated in manufacturers such as smoke stoves, sanitary ware and kitchen cookers. Among them, Vantage shares achieved a net profit increase of 13.11% year-on-year, and the growth in performance benefited from a substantial increase in online shopping income and direct sales of real estate.
In the first half of the year, Wanjiale reported revenue of 950 million yuan and net profit of 38.11 million yuan, which was 13.4% and 48.1% lower year-on-year respectively. However, the main business kitchen and bathroom appliances continued to grow. In the first half of the year, the kitchen and electric appliance business revenue and operating profit increased by 13.0% and 31.6% respectively year-on-year. Wanhe Electric's performance also continued to rise. According to the annual report, the total revenue of Wanhe Electric in the first half of the year was 1.45 billion yuan, an increase of 8.62% over the same period of the previous year; the net profit attributable to the shareholders of the listed company was 126 million yuan, an increase of 8.7% over the same period of last year. The gross profit of these three companies is close to 50%.
Some analysts believe that although real estate control policies have inhibited the growth rate of the kitchen power market, these companies have increased the price of the products. When the reporter visited, they discovered that smoke hoods over 4,000 yuan have occupied the major markets, and the cost of these products Less than half, this is the main reason for the huge profits of kitchen electric company. Appliance analyst Liang Zhenpeng pointed out that there are two reasons for the lucrative kitchen appliance products. One is that the product technology threshold is relatively low. After many years of technology accumulation, in addition to rising raw material prices, the production cost continues to decrease; its second kitchen appliance products are larger than large appliances. Consumers are unable to compare horizontally, but also give the possibility of high product prices.
Color TV industry profits lowest
Not more than 20%
Changhong released its semi-annual report, showing that its revenue for the first half of the year was 23.2 billion yuan, up 1% year-on-year; net profit was 147 million yuan, down 36% year-on-year. TCL Group's revenue increased by nearly 9% year-on-year to 29.81 billion yuan. However, due to the shrinking TCL communication performance of its holding subsidiary and the long-term loss of China Star Optoelectronics, the net profit attributable to shareholders of the listed company fell by 47.5% year-on-year in the first half of the year. It was 283 million yuan. The medium-term gross margin of these two companies is only about 15%. The successful loss of Konka, the first half of this year achieved sales of 7.039 billion yuan, an increase of 2.53%; to achieve a net profit attributable to the shareholders of listed companies 114.743 million yuan, an increase of 105.88%. In the same period last year, Konka lost a net loss of 195 million yuan. Gross profit margin also increased from 14.59% in the first half of last year to 19.36% in the first half of this year. However, the gross profit of color TV industry still does not exceed 20%.
TCL Group Chairman Li Dongsheng cheered for TCL. He said that in addition to the poor communication performance, multimedia and home appliance businesses performed well. However, the industry is not as optimistic as it seems. Ovid data shows that the average price of TV sales in August hit a new low for 13 months. Flat-panel TVs have grown rapidly in the past two years, overdrawing market demand. In the context of reduced demand, the competition has become more intense. The price war has caused gross loss to be very serious and the market outlook is not optimistic.
White electricity industry
Obvious pattern of oligopoly
In terms of white power, the net profits of the three giants Gree, Haier, and the United States all increased. Among them, Gree's profit growth is the most obvious, followed by Haier. In the first half of 2012, Gree achieved a total operating revenue of 48.303 billion yuan, a year-on-year increase of 20.04% and a net profit of 2.871 billion yuan, an increase of 30.08% year-on-year.
Qingdao Haier achieved total revenue of 40.47 billion yuan in January-June 2012, an increase of 6.3% year-on-year, and net profit of 1.852 billion yuan, a year-on-year increase of 21.26%. The data shows that Haier’s refrigerator market share has been more than doubled from the second place while maintaining its number one position in the world.
Because of its strategic transformation in recent years, Midea has focused on strategic shrinkage and the pursuit of quality growth, resulting in a substantial decline in revenue. In the first half of this year, the US realized total revenue of 38.990 billion yuan, a year-on-year decrease of 37.15%, but the net profit was 2.089 billion yuan, an increase of 5.73% year-on-year.
Industry sources pointed out that the performance report of the Big Three appliance giants in the first half of the year is still representative. Gree revenue and net profit have a certain growth rate within a reasonable range. In the first half of the year, the overall growth rate of the air-conditioning industry was 30%. Relatively speaking, positive growth has been relatively rare. The United States is in a strategic adjustment, and sales channels have been affected, but adjustments have yielded results. From an industry perspective, the market share of Gree, Midea, and Haier in the air-conditioning market totals more than 65%, and the oligarch pattern is increasingly evident.
Small household appliances industry
Significant decline in profits
In recent years, all home appliance industries have shown an optimistic view of the small household appliance industry, and the small home appliance industry can achieve a profit of up to 50%. However, many small household electrical appliances are not necessities, but to improve the demand, the economic environment is not good, consumer demand for small appliances is also gradually weakened. Neither the United States nor Galanz, the leading enterprise in the small home appliances industry, has been listed on the market and cannot obtain accurate data. However, the annual reports of Supor and Aishida can be seen.
Supor announced the results of the 2012 semi-annual report. In the first half of the year, the company achieved sales revenue of 3.338 billion yuan, a year-on-year decrease of 4.04%; the net profit attributable to the parent company's shareholders was 220 million yuan, a year-on-year decrease of 4.81%; Supor said that the performance decline was affected by exports. Reduced, increased personnel costs and the impact of the "stainless steel incident." In addition to Supor, ASD's interim results are also not optimistic, ASD's mid-term operating income of 872 million yuan, while the net profit is only 16.5586 million yuan, a year-on-year decrease of 48.89%. These companies believe that the domestic and international economic downturn is the main reason for the decline in performance.
In addition, the lack of premium capacity of small household electrical appliances is also a key factor. Take rice cookers as an example. The price of a rice cooker for domestic companies is around 500 yuan, while the price of foreign brands such as Toshiba can reach 10,000 yuan, and the profits of the two products. The difference between heaven and earth. In response to this phenomenon, Dean Xu, president of the China Household Electrical Appliances Research Institute, told reporters that improving the innovation ability and process design level of small household electrical appliances is the next important task for Chinese enterprises. Only in this way can the competitiveness be improved.
Kitchen electricity is very profitable
Nearly 50%
Companies with higher gross profit margins are still concentrated in manufacturers such as smoke stoves, sanitary ware and kitchen cookers. Among them, Vantage shares achieved a net profit increase of 13.11% year-on-year, and the growth in performance benefited from a substantial increase in online shopping income and direct sales of real estate.
In the first half of the year, Wanjiale reported revenue of 950 million yuan and net profit of 38.11 million yuan, which was 13.4% and 48.1% lower year-on-year respectively. However, the main business kitchen and bathroom appliances continued to grow. In the first half of the year, the kitchen and electric appliance business revenue and operating profit increased by 13.0% and 31.6% respectively year-on-year. Wanhe Electric's performance also continued to rise. According to the annual report, the total revenue of Wanhe Electric in the first half of the year was 1.45 billion yuan, an increase of 8.62% over the same period of the previous year; the net profit attributable to the shareholders of the listed company was 126 million yuan, an increase of 8.7% over the same period of last year. The gross profit of these three companies is close to 50%.
Some analysts believe that although real estate control policies have inhibited the growth rate of the kitchen power market, these companies have increased the price of the products. When the reporter visited, they discovered that smoke hoods over 4,000 yuan have occupied the major markets, and the cost of these products Less than half, this is the main reason for the huge profits of kitchen electric company. Appliance analyst Liang Zhenpeng pointed out that there are two reasons for the lucrative kitchen appliance products. One is that the product technology threshold is relatively low. After many years of technology accumulation, in addition to rising raw material prices, the production cost continues to decrease; its second kitchen appliance products are larger than large appliances. Consumers are unable to compare horizontally, but also give the possibility of high product prices.
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