White electricity industry shows a trend of recovery meiling revenue exceeded 18 billion
Recently, a number of home appliance listed companies in 2021 performance reports have been released.From the perspective of macro environment, energy consumption, carbon emissions and other environmental indicators also form varying degrees of restrictions on the production of home appliance enterprises.However, with the recovery of the retail price, the active promotion of high-end process by various enterprises, and the intelligent market and the superimposed “health” function of the market segment, the demand for upgrading will be released, which will drive the growth of the white electric market.In this context, As a first-line brand of BAIDIAN, Meiling delivers a bright report card: According to the data of Meiling’s 2021 Annual Report (hereinafter referred to as the annual report), meiling’s operating revenue in 2021 reaches a new record high of 18.033 billion yuan, with a year-on-year growth of 17.19%;At the same time, the net profit of the listed parent company increased by 160.65%.Since the beginning of this year, copper, aluminum, plastic and other large raw materials closely related to home appliances have appeared several rounds of price rises.However, the rise of raw material prices is like a double-edged sword, which brings pressure to enterprises but also brings benign competition. The way of fighting between enterprises is more rational, and the overall competitive environment of the market is better.Under this environment, ice washing and other white electricity enterprises are forced by the upstream raw material cost pressure, take the way of delivery price increase to relieve the operating pressure;On the one hand, we will focus on product upgrading. In the white electricity market, which has entered the stock replacement cycle, we will improve the average price of the industry and the competitiveness of enterprises with the structural changes of industry segments, so as to stimulate the market.Meanwhile, in overseas markets, the world economy is gradually emerging from the recession, thanks to the expansion of COVID-19 vaccination coverage, relaxation of COVID-19 control measures in many countries, and the implementation of massive fiscal stimulus and monetary easing policies.The demand for food storage and comfort continues to rise, driven by continued economic stimulus packages in many countries, low interest rates and strong rising real estate markets, as well as an increase in telecommuting and longer hours from home.The exuberant demand of overseas market lets Chinese home appliance export usher in good opportunity.According to data released by the General Administration of Customs, From January to December 2021, China’s exports of household appliances (including color TV sets, DVDS and some white goods) reached 98.72 billion US dollars, up 22.3% year on year, with the growth rate gradually slowing down from the second half of the year.In particular, according to the statistics of China Chamber of Commerce for Import and Export of Mechanical and Electrical Products (hereinafter referred to as the “Chamber of Commerce for Import and Export of Mechanical and Electrical Products”), in 2021, China’s total annual export of home appliances (white) products reached 118.45 billion US dollars, up 26.4% from 2020 and 48.4% from 2019. Both the export scale and growth rate hit the highest in the past decade.In the environment of both pressure and opportunities, Meiling and other Chinese household appliance brands have overcome multiple difficulties such as sharp fluctuations in raw material prices, increased pressure on supply chains, weak domestic demand and declining product profit margins, and overcome industrial crises such as repeated outbreaks of the epidemic, achieving amazing results in 2021.According to data from Meiling’s annual report, in 2021, Meiling’s refrigerator (cabinet) business achieved revenue of about 7.725 billion yuan, with a year-on-year growth of 5.46%.The revenue of air conditioning business was about 6.867 billion yuan, with a year-on-year growth of 48.67%.Revenue of washing machine business was about 669 million yuan, up 43.31% year on year.The revenue of kitchen, bathroom and small household appliances reached about 1.33 billion yuan, up 16.37% year on year.The revenue of biomedical business was about 441 million yuan, up 25.15% year on year.In the development of the home appliance market in 2021, a trend is becoming more and more obvious, that is, the high-end consumption of home appliances is becoming more and more popular.GfK data shows that intelligent and high-end products in the global home appliance market will see prominent growth in 2021.The average home appliance price is now $449, up 11% from a year ago, meaning consumers spend an average of $51 more per appliance.This trend also points out to the industry the next stage of home appliance brand market opportunities.Experts say that high-end products are the driving force for the growth of the global home appliance field. Products with technological advantages, innovation ability, added value and products in line with consumer values will bring “premium” space. Focusing on environmental protection, energy saving, ecological and sustainable oriented home appliance products will have the growth potential.Having been deeply engaged in the home appliance industry for many years, Meiling has made great achievements in creating high-end market competitiveness.During 2021, mei ling “M fresh raw” comprehensive thin series products, fresh raw “M” the second generation series refrigerators, “very clean” series of refrigerators, maternal and child series refrigerators, “very thin” series of washing machines and other high-end products, create fresh “mei ling”, “thin” mei ling, three net “mei ling” brand name card, is widely recognized by high-end consumers.If you want to build high-end products, then the corresponding technical ability is also essential.In 2021, Meiling established the 5G+AI joint laboratory. The national laboratory has passed the review of the Ministry of Industry and Information Technology, and has been awarded the national Technology Innovation Demonstration Enterprise.At the same time, in terms of technology research, Meiling is committed to the application of basic technology research and industrialization transfer, and has established the technology strategy planning with “intelligence, frequency conversion, simulation, preservation” as the core technology and “refrigeration, new materials, foaming” as the key technology.In terms of intelligent manufacturing, in 2021, The strength and effect of Meiling intelligent manufacturing will continue to improve.Data show that the primary detection rate of products is increased by 32%, production efficiency is increased by 25%, U shell productivity is increased by 15%, the success rate of dynamic detection is increased by 20%, the transport loss of sheet metal door body is reduced to 0, and the compressor achieves 100% accurate control.The technical strength of Meiling has also been affirmed by relevant national departments. It is reported that Meiling has not only built an industrial enabling manufacturing system with “5G+ big data + Intelligent algorithm + cloud computing power” as the core, but also won national honors such as “Smart Refrigerator Intelligent Manufacturing Pilot Demonstration Project”, “Green Factory” and “International Industrial Design Center”.Among them, Meiling bio-medical also won the title of special new Little Giant of the Ministry of Industry and Information Technology.Jia Grid believes that despite the adverse factors such as blocked global supply chain, high prices of raw materials and shipping, Meiling and other Chinese household appliance brands can still break through the difficulties and achieve a significant increase in revenue, which naturally cannot be separated from the positive role of high-end household appliance industry.With home appliance consumption vogue trend, intelligent, comfortable, healthy, beautiful ling, such as the Chinese electrical appliances brand by science and technology innovation and consumer research, the precise matching segmentation groups demand of high quality, personalized, fashionable change, comfortable and intelligent, health and other emerging category and scenario solution will grow rapidly and become the main power of consumption market.With the further improvement of the technological innovation ability of China’s home appliance industry, the complete industrial chain and supply chain system, the leading advantages of intelligent and digital transformation, as well as the consumer insight ability relying on new technologies, are conducive to enhancing the influence of China’s own home appliance brands in the global market.