On March 15, the reporter learned from Kingclean Electric Co.Ltd(603355) that in 2021, the company’s independent brand, ODM and core parts business achieved overall growth.
According to the performance pre increase announcement previously released by the company, the net profit attributable to the shareholders of the listed company is expected to be RMB 500 million to RMB 600 million in 2021, with a year-on-year increase of 52.45% to 82.94%; In 2021, through continuous product innovation and category innovation, the company adhered to the product strategy of high-end, intelligent and wireless upgrading, and the operating revenue is expected to increase by 25% to 30% year-on-year.
Kingclean Electric Co.Ltd(603355) said that in 2022, the company will improve the profitability of ODM business through cost reduction, efficiency increase and price transmission; At the same time, the company will focus on developing two high growth businesses of independent brands and core parts, improve the company’s core competitiveness and enhance the company’s sustainable profitability.
According to the analysis of open source securities, Kingclean Electric Co.Ltd(603355) has formed five independent brand matrices in China’s small household appliance market, Wuxi Online Offline Communication Information Technology Co.Ltd(300959) channel layout is perfect, and the product end continues to be upgraded iteratively under the trend of high-end, wireless and intelligent. With the help of R & D accumulation and cooperation with the signing of top stream brand promotion, the growth space of the company’s independent brand is expected to be further opened Tianfeng Securities Co.Ltd(601162) believes that the company is the leading manufacturer of vacuum cleaners in the world. Since the outbreak, the company’s ODM business has achieved sustained growth. The concentration of global vacuum cleaner brands is low. As a leading enterprise in the upstream manufacturing field, the company has stronger bargaining power.
