High temperature driven orders are booming, and multiple home appliance companies have achieved impressive results

According to the latest statistics, 35 listed home appliance companies have released performance forecasts for the first half of 2023. Benefiting from the recovery of consumption, the hot summer weather and the promotion of e-commerce, Hefei Meiling (6.810, -0.13, -1.87%), Hisense Kelon (23.910, -0.46, -1.89%) and other white power companies have achieved outstanding performance. Among them, many intelligent and green home appliance new products have become sharp tools for the growth of related companies' performance.

Black electricity and Small appliance are in a recovery trend due to the change of consumption concept and consumption structure. Related companies focus on cultivating internal skills, actively adjusting product structure and marketing strategies, deeply exploring cost reduction space, and driving steady performance growth through intelligent and high-quality new products.

Orders Continuously Enhance Intelligence

According to the analysis report from Ovi Cloud Network, the domestic air conditioning market has been affected by factors such as macroeconomic and consumer environment improvement, as well as high temperature weather. It has performed well and steadily, standing out in the overall home appliance market. Driven by new business models such as live streaming and sales, this year's "June 18th" major promotion of home appliance retail has been strong, and sales of intelligent and convenient air conditioners, refrigerators, and other products have performed well.

The reporter found from authoritative department monitoring data that in the first half of the year, the production and sales of the air conditioning market increased by both parties, producing 92.81 million units, a year-on-year increase of 14.0%; Sales of 90.9 million units increased by 11.9% year-on-year. Among them, domestic sales have led to a significant increase, with 52.14 million units shipped domestically, a year-on-year increase of 22.6%.

Hefei Meiling expects the net profit in the first half of the year to be 320 million yuan to 380 million yuan, a year-on-year increase of 430.02% to 529.40%. The company stated that in the international refrigerator (cabinet) and washing machine industry, in the context of a decrease in sea freight and gradual market recovery, the number of orders received and shipments has increased significantly, and the washing machine industry is rapidly expanding; The domestic air conditioning industry closely follows the market and local climate characteristics, and plans to layout the market in advance.

Oma Electric Appliances, a major exporter of refrigerators (8.060, -0.72, -8.20%), is expected to have a net profit of 319 million yuan to 420 million yuan in the first half of the year, a year-on-year increase of 104.76% to 169.59%. The company stated that in the first half of the year, market demand has recovered, the company has strengthened market expansion, increased sales orders, and sales revenue has increased compared to the same period last year. The improvement of production efficiency and cost control, together with the year-on-year decline in the price of raw materials and the improvement of product structure, led to the increase of Gross margin.

The reporter noticed that the driving factors for the high growth of the white electricity industry are changing. According to data from the National Bureau of Statistics, in the first half of the year, the online retail sales of physical goods increased by 10.8% year-on-year. Analysts from Ovi Cloud Network believe that the proportion of online structure at the channel end continues to increase, and brands and platforms are exploring channel integration and focusing on improving user experience; With the differentiation of domestic consumption, the product structure of air conditioners has also appeared, and the demand for online cost-effective hanging machines has expanded.

Whirlpool Corporation (8.190, -0.02, -0.24%) said frankly that during the reporting period, the company promoted new channel business, optimized the product sales structure, and improved the overall gross margin significantly. The company expects to achieve a net profit of 30 million to 45 million yuan in the first half of this year, turning losses into profits. Similarly, Hisense Kelon, whose performance is expected to double, said that the performance growth benefited from the company's continuous optimization of channel structure, product structure, cost reduction and efficiency increase. Gross margin continued to improve year on year, and its scale grew steadily.

The reporter found that in terms of product selection, Hisense Kelon Home Appliances, Whirlpool Corporation, Hefei Meiling and other brand home appliances on e-commerce platforms such as Taobao and Jingdong mainly focus on health, energy conservation and intelligence in product promotion. Green+intelligent "has become a key product feature for home appliance enterprises.

Refine internal skills and optimize structure

Due to the change of consumption concept and consumption structure, compared with the high growth of white electricity plate, the prosperity of black electricity and Small appliance plate is not particularly high, and it is in a weak recovery state. The performance of many companies in the first half of the year is significantly differentiated.

Hisense Video (22.490, -0.16, -0.71%) is expected to achieve a net profit of 1.022 billion yuan to 1.081 billion yuan in the first half of the year, a year-on-year increase of 72.16% to 82.10%. Shenkangjia A (4.630, -0.01, -0.22%) is expected to experience a loss of 170 million to 220 million yuan in the first half of the year, compared to a profit of 173 million yuan in the same period last year.

Shenkang Jia A stated that the domestic color TV business was affected by factors such as a decline in industry scale, an increase in supply chain costs, and a period of adjustment in product sales structure. The market size recovery in the first half of the year was less than expected. In terms of products and sales, high-frequency demand for large boards, high brushes, and new displays is gradually increasing. The marketing strategies of listed companies are in a period of adjustment, and the sales scale and gross profit of color TV business have been affected to some extent.

According to a research report by OviCloud, the domestic color TV industry has begun to deeply expand in terms of product refinement and channel fragmentation. Consumers have shifted from pursuing cost-effectiveness to cost-effectiveness, and consumer preferences such as "pleasing oneself" and "health" have emerged. With the continuous improvement of hardware technologies such as high-definition image quality and extreme large screens, color televisions are fundamentally based on intelligent development, reshaping human-computer interaction methods. Small appliance are upgraded to refined, professional and healthy quality.

Hisense Video has a deep feeling about this: "Against the backdrop of optimizing the competitive landscape in the television industry, the company's product structure has further upgraded, and the profit margin of smart display terminals has increased year-on-year

The reporter learned that the challenges faced by Small appliance brands are still relatively large. As most kitchen Small appliance are facing saturation period and continuous excavation of subdivision scenarios, it is becoming increasingly difficult to find the next trend new product.

ST Dehao (1.360, 0.02, 1.49%) expects a net profit loss of 100 million to 150 million yuan in the first half of this year, with a certain narrowing of the loss range compared to the same period last year. "Affected by the macroeconomic environment, the demand of the global consumer household appliances market continued to be sluggish. At the same time, the company optimized the product structure of its main business Small appliance export products, eliminated negative gross margin and low gross margin products, and the company's Small appliance export orders declined during the reporting period." ST Dehao said.

In the view of the industry, the uncertainty faced by the Small appliance industry is both a challenge and an opportunity. According to consumers' preferences and future trends, Small appliance should be upgraded in the direction of refinement, specialization and health, refining their internal skills, adjusting their structure and seeking greater development.

Xiaoxiong Electric Appliances (67.030, -1.15, -1.69%) expects that the sales revenue in the first half of the year will increase by 25% to 30% year on year, and the net profit is expected to reach 222 million to 245 million yuan, an increase of 50% to 65% year on year. This is mainly due to the company's adherence to the product boutique strategy and the brand positioning of "Small appliance that young people like", close to market consumption demand, continuous investment in product research and development, and strengthening Brand management and marketing system construction.