On April 19, the kitchen power enterprise Hangzhou Robam Appliances Co.Ltd(002508) released the financial report for 2021, which showed that the company achieved an operating revenue of 101.48 yuan, a year-on-year increase of 24.84%; The net profit attributable to shareholders of listed companies was 1.332 billion yuan, a year-on-year decrease of 19.81%. In 2021, the company increased revenue without increasing profit, and the gross profit margin of main products declined as a whole.
Driven by emerging categories, the overall performance of China’s kitchen and bathroom market in 2021 is good, but the performance of traditional kitchen appliances (smoke and stove consumption) is weak. According to the total data pushed by ovicloud, the retail volume of kitchen and bathroom market (smoke stove, washing and embedded heat) in 2021 was 91.56 million units, a year-on-year decrease of 6%, and the retail volume was 152.8 billion yuan, a year-on-year increase of 7%.
In 2021, under the influence of factors such as the rising cost of raw materials and maritime logistics, the overall competition in the kitchen electricity industry will be more intense, and the industry concentration will continue to increase Hangzhou Robam Appliances Co.Ltd(002508) faced a loss in the fourth quarter of 2021. The financial report showed that the revenue in the fourth quarter reached 3.077 billion yuan, the highest in the four quarters; However, the net profit loss attributable to the shareholders of the listed company was 10.75 million yuan.
The increase in operating costs affected the gross profit margin of products. In Hangzhou Robam Appliances Co.Ltd(002508) 2021, the gross profit margin of household appliances, kitchens and sanitary products was 52.35%, down 3.81% year-on-year. Specifically, the revenue of range hood was 4.88 billion yuan, a year-on-year increase of 18.73%; The gross profit margin was 53.65%, down 5.94% year-on-year. The revenue of gas stoves was 2.44 billion yuan, a year-on-year increase of 27.25%; The gross profit margin was 57.00%, down 2.14% year-on-year.
The growth trend of emerging categories of kitchen appliances is good Hangzhou Robam Appliances Co.Ltd(002508) steaming and baking machine revenue 647 million yuan, an increase of 71.26%; Dishwasher revenue was 451 million yuan, a year-on-year increase of 101.32%. Integrated stoves became the star category in the kitchen electricity industry last year, but Hangzhou Robam Appliances Co.Ltd(002508) integrated stoves were relatively stable, with a revenue of 326 million yuan, a year-on-year increase of 25.97%.
From the perspective of Hangzhou Robam Appliances Co.Ltd(002508) sales mode, the gross profit margin of consignment mode has declined the most, and the engineering channels have also declined. The financial report showed that the direct revenue was 4.647 billion yuan, a year-on-year increase of 39.13%; The gross profit margin was 67.39%, with a year-on-year increase of 5.13%. Commission sales revenue was 3.07 billion yuan, a year-on-year increase of 19.23%; The gross profit margin was 48.01%, down 6.65% year-on-year. The project channel was significantly affected by the industry, with weak growth, with a revenue of 1.976 billion yuan, a year-on-year increase of 6.95%; The gross profit margin was 46.83%, down 3.29% year-on-year.
Hangzhou Robam Appliances Co.Ltd(002508) 2021 annual report is released, and the first quarterly report of 2022 is also released Hangzhou Robam Appliances Co.Ltd(002508) 2022 first quarter revenue of 2.086 billion yuan, an increase of 9.32%; The net profit attributable to shareholders of listed companies was 368 million yuan, a year-on-year increase of 2.47%. As of the closing on April 19, Hangzhou Robam Appliances Co.Ltd(002508) closed at 30.43 yuan / share, down 1.30%.
