Recently, the major third-quarter financial reports of large home appliances companies have been announced one after another. White-listed companies have announced good news and black-listed companies have chosen low-key statements. From the data point of view, the trend of "white strong black and weak" is more obvious. It is worth noting that some of the recent initiatives taken by black power companies have caused the industry to see black companies’ intentions of “whitening outâ€. In the future, the “big fight†in the home appliance market will intensify.
"Baiqiang black and weak" is more obvious
Recently, the third quarter report released by various home appliance companies shows that the trend of “strong white, weak, black and weak†is even more pronounced. On the one hand, white companies are competing with each other on the basis of profit growth under the premise of significant increase in operating income. On the one hand, black companies face low profits and act in a low-key manner.
The three white giants of Midea, Haier, and Gree continue to "grow up." The announcement of Midea Electric stated that in the third quarter of 2010, the company realized operating revenue of 18.135 billion yuan, up 68.60% year-on-year, and net profit of 931 million yuan, up 129.69% year-on-year. In the first three quarters, its total operating income was 57.16 billion yuan, up 60.31% year-on-year; net profit attributable to the parent company was 2.719 billion yuan, an increase of 75.29% year-on-year.
According to an announcement by Gree Electric, the operating income in the third quarter was 19.152 billion yuan, an increase of 80.35% year-on-year, and the net profit was 1.317 billion yuan, an increase of 73.30%. In the first three quarters, Gree's total operating income reached 44.297 billion yuan, an increase of 44.40% year-on-year, and net profit was 2.890 billion yuan, a year-on-year increase of 45.09%. In the first three quarters of the year, its total operating income exceeded the total income of the previous year by 42.637 billion yuan.
According to an announcement released by Qingdao Haier, from January to September, Qingdao Haier realized operating revenue of 45.43 billion yuan, a year-on-year increase of 33.25%; net profit of 2.09 billion yuan, an increase of 46.58% year-on-year; and net profit attributable to parent company of 1.6 billion yuan, a year-on-year increase. 50.34%; Net cash flow generated from operating activities was RMB 6 billion, much higher than current net profit.
The situation of black power companies in net profit is completely different. Konka's recent quarterly report shows that the third quarter net profit of 102.910 million yuan, a year-on-year drop of 60.94%; the first three quarters of net profit of 61,187,500 yuan, a year-on-year decrease of 42.63%. TCL quarterly report shows that the third quarter net profit of 37.875 million yuan, down 30.50%; the first three quarters of net profit of 195 million yuan, an increase of 27.43%. Xoceco's third-quarter report showed that net profit for January to September was 61.39 million yuan, a decrease of 35.22% year-on-year.
The trend of whitening appears
Faced with the huge gap between black and white electricity companies, in the recent past, some companies’ initiatives have shown that black power companies are interested in increasing their involvement in white power business.
Recently, Meiling’s non-public issuance of stocks to raise funds of no more than 1.2 billion yuan has been approved by the Securities and Futures Commission’s issuance audit committee. The funds raised will be invested in luxury refrigerator production bases, freezers and energy-saving refrigerators.
The target of Meiling’s issuance was Sichuan Changhong Electric Co., Ltd. and other no more than 10 specific investors. Among them, Sichuan Changhong plans to subscribe for this non-public offering of stock with cash of 400 million yuan and subscribe for not more than 40 million shares. According to the announcement, after all raised investment projects are completed, Meiling Electric will eventually increase the production capacity of 2 million (two-shift) luxury refrigerators, 600,000 (double-shift) environmental protection and energy-saving refrigerators, and 1.2 million (double shift) freezers.
A few days ago, Skyworth Group spokesperson Li Cong wanted to reveal that Skyworth began to develop and produce ice-wash products on its own, and that products will be available in January next year. At present, Skyworth Group's Nanjing white electricity production base is under construction. Li Cong wanted to say that the ice-washing products that will be listed will be positioned at the mid-end, and that the timing will become more mature and then enter the high-end market.
On November 10th, Konka Group announced that it will invest 1 billion yuan to build a new white electricity base and accelerate its expansion in the field of white electricity. Chen Yuehua, president of Konka Group, said that Konka is fully accelerating the white-metal industry's layout and strive to achieve a sales volume of ice-washing business of RMB 3 billion in 2013, creating an industry-leading brand.
In addition, Hisense Kelon, which has completed restructuring under Hisense, has achieved a total operating revenue of 4.861 billion yuan in the third quarter of this year, an increase of 80.26% (33.08% after adjustment); net profit is 1.394 billion yuan, an increase of 414.2% over the same period of last year. (1860.07% after adjustment). In the first three quarters, its total operating income was 14.378 billion yuan, a year-on-year increase of 92.70% (37.72% after adjustment); net profit was 469 million yuan, a year-on-year increase of 156.57% (adjusted to 75.25%).
Peng Ye, research director of Zhongkang Market, told the “China Electronics News†reporter: “For household appliance companies, enriching the industrial chain is the inevitable way for the diversified development of enterprises. On the one hand, companies need to split risks and on the other hand find new ones. As a result, the development of white-line businesses by black-box companies across borders will be a general trend."
Will face challenges
Looking at the current black power companies involved in white power business, there are two main ways: one is to carry out mergers and acquisitions in the capital market, such as Hisense acquired Kelon, Changhong, the main Meiling; the other is a self-built product line, with its own The brand entered the market with the comprehensive advantages of the black power business.
At present, the black-box companies have achieved significant results in the acquisition of other white-brands. This is evident from the third quarter report of Hisense Kelon and Meiling. However, choosing this method will cost a lot of money and take a long time. In contrast, it is even more “short and fast†for black companies to build their product lines directly. However, under the “short-term fast†model, black-power companies need to face challenges in an objective manner.
In this regard, Peng Yu bluntly said: "In the current environment of full competition in the white power industry, black power companies to enter the market with their own brands to participate in competition need more consideration."
In the field of white electricity, Haier, Midea, Gree and other companies have led the market for many years. The white electricity market has already passed the stage of primary competition and entered the “giant†competition stage. At this time, black-box companies will use their own brands to enter the white-electricity market, and they will face enormous competitive pressure. Prior to this, the Ministry of Commerce and other three ministries announced home appliances to the countryside yellow card warning list, there are well-known black-wired companies due to poor sales of white goods and the list.
“According to the operations of Hisense and other companies, the current mergers and acquisitions approach is more suitable for black power enterprises to enter the white power market. However, this requires companies to control many brand operations, integrate channel resources, accurately locate products, and lay out markets. This approach must be Only companies with sufficient strength and operational experience can use it." Peng Yu said.
Although the black-box companies' efforts to cross-border business in white-living business has increased and become the trend of the times, it is questioned whether the pattern of the household appliance market will change in the future. Peng Yu predicts: “The advantages of specialized operation of enterprises are huge, although black-box companies There are cross-border operations with white electricity companies, but the overall market structure of the black and white electricity market is unlikely to undergo major changes."
"Baiqiang black and weak" is more obvious
Recently, the third quarter report released by various home appliance companies shows that the trend of “strong white, weak, black and weak†is even more pronounced. On the one hand, white companies are competing with each other on the basis of profit growth under the premise of significant increase in operating income. On the one hand, black companies face low profits and act in a low-key manner.
The three white giants of Midea, Haier, and Gree continue to "grow up." The announcement of Midea Electric stated that in the third quarter of 2010, the company realized operating revenue of 18.135 billion yuan, up 68.60% year-on-year, and net profit of 931 million yuan, up 129.69% year-on-year. In the first three quarters, its total operating income was 57.16 billion yuan, up 60.31% year-on-year; net profit attributable to the parent company was 2.719 billion yuan, an increase of 75.29% year-on-year.
According to an announcement by Gree Electric, the operating income in the third quarter was 19.152 billion yuan, an increase of 80.35% year-on-year, and the net profit was 1.317 billion yuan, an increase of 73.30%. In the first three quarters, Gree's total operating income reached 44.297 billion yuan, an increase of 44.40% year-on-year, and net profit was 2.890 billion yuan, a year-on-year increase of 45.09%. In the first three quarters of the year, its total operating income exceeded the total income of the previous year by 42.637 billion yuan.
According to an announcement released by Qingdao Haier, from January to September, Qingdao Haier realized operating revenue of 45.43 billion yuan, a year-on-year increase of 33.25%; net profit of 2.09 billion yuan, an increase of 46.58% year-on-year; and net profit attributable to parent company of 1.6 billion yuan, a year-on-year increase. 50.34%; Net cash flow generated from operating activities was RMB 6 billion, much higher than current net profit.
The situation of black power companies in net profit is completely different. Konka's recent quarterly report shows that the third quarter net profit of 102.910 million yuan, a year-on-year drop of 60.94%; the first three quarters of net profit of 61,187,500 yuan, a year-on-year decrease of 42.63%. TCL quarterly report shows that the third quarter net profit of 37.875 million yuan, down 30.50%; the first three quarters of net profit of 195 million yuan, an increase of 27.43%. Xoceco's third-quarter report showed that net profit for January to September was 61.39 million yuan, a decrease of 35.22% year-on-year.
The trend of whitening appears
Faced with the huge gap between black and white electricity companies, in the recent past, some companies’ initiatives have shown that black power companies are interested in increasing their involvement in white power business.
Recently, Meiling’s non-public issuance of stocks to raise funds of no more than 1.2 billion yuan has been approved by the Securities and Futures Commission’s issuance audit committee. The funds raised will be invested in luxury refrigerator production bases, freezers and energy-saving refrigerators.
The target of Meiling’s issuance was Sichuan Changhong Electric Co., Ltd. and other no more than 10 specific investors. Among them, Sichuan Changhong plans to subscribe for this non-public offering of stock with cash of 400 million yuan and subscribe for not more than 40 million shares. According to the announcement, after all raised investment projects are completed, Meiling Electric will eventually increase the production capacity of 2 million (two-shift) luxury refrigerators, 600,000 (double-shift) environmental protection and energy-saving refrigerators, and 1.2 million (double shift) freezers.
A few days ago, Skyworth Group spokesperson Li Cong wanted to reveal that Skyworth began to develop and produce ice-wash products on its own, and that products will be available in January next year. At present, Skyworth Group's Nanjing white electricity production base is under construction. Li Cong wanted to say that the ice-washing products that will be listed will be positioned at the mid-end, and that the timing will become more mature and then enter the high-end market.
On November 10th, Konka Group announced that it will invest 1 billion yuan to build a new white electricity base and accelerate its expansion in the field of white electricity. Chen Yuehua, president of Konka Group, said that Konka is fully accelerating the white-metal industry's layout and strive to achieve a sales volume of ice-washing business of RMB 3 billion in 2013, creating an industry-leading brand.
In addition, Hisense Kelon, which has completed restructuring under Hisense, has achieved a total operating revenue of 4.861 billion yuan in the third quarter of this year, an increase of 80.26% (33.08% after adjustment); net profit is 1.394 billion yuan, an increase of 414.2% over the same period of last year. (1860.07% after adjustment). In the first three quarters, its total operating income was 14.378 billion yuan, a year-on-year increase of 92.70% (37.72% after adjustment); net profit was 469 million yuan, a year-on-year increase of 156.57% (adjusted to 75.25%).
Peng Ye, research director of Zhongkang Market, told the “China Electronics News†reporter: “For household appliance companies, enriching the industrial chain is the inevitable way for the diversified development of enterprises. On the one hand, companies need to split risks and on the other hand find new ones. As a result, the development of white-line businesses by black-box companies across borders will be a general trend."
Will face challenges
Looking at the current black power companies involved in white power business, there are two main ways: one is to carry out mergers and acquisitions in the capital market, such as Hisense acquired Kelon, Changhong, the main Meiling; the other is a self-built product line, with its own The brand entered the market with the comprehensive advantages of the black power business.
At present, the black-box companies have achieved significant results in the acquisition of other white-brands. This is evident from the third quarter report of Hisense Kelon and Meiling. However, choosing this method will cost a lot of money and take a long time. In contrast, it is even more “short and fast†for black companies to build their product lines directly. However, under the “short-term fast†model, black-power companies need to face challenges in an objective manner.
In this regard, Peng Yu bluntly said: "In the current environment of full competition in the white power industry, black power companies to enter the market with their own brands to participate in competition need more consideration."
In the field of white electricity, Haier, Midea, Gree and other companies have led the market for many years. The white electricity market has already passed the stage of primary competition and entered the “giant†competition stage. At this time, black-box companies will use their own brands to enter the white-electricity market, and they will face enormous competitive pressure. Prior to this, the Ministry of Commerce and other three ministries announced home appliances to the countryside yellow card warning list, there are well-known black-wired companies due to poor sales of white goods and the list.
“According to the operations of Hisense and other companies, the current mergers and acquisitions approach is more suitable for black power enterprises to enter the white power market. However, this requires companies to control many brand operations, integrate channel resources, accurately locate products, and lay out markets. This approach must be Only companies with sufficient strength and operational experience can use it." Peng Yu said.
Although the black-box companies' efforts to cross-border business in white-living business has increased and become the trend of the times, it is questioned whether the pattern of the household appliance market will change in the future. Peng Yu predicts: “The advantages of specialized operation of enterprises are huge, although black-box companies There are cross-border operations with white electricity companies, but the overall market structure of the black and white electricity market is unlikely to undergo major changes."
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