Hangzhou Robam Appliances Co.Ltd(002508) ( Hangzhou Robam Appliances Co.Ltd(002508) . SZ) released its annual report and quarterly report on the evening of April 19, which revealed that the revenue in 2021 exceeded 10 billion yuan for the first time, reaching 10.148 billion yuan, a year-on-year increase of 24.84%; The net profit attributable to the parent company was 1.332 billion yuan, a year-on-year decrease of 19.81%; In the first quarter of this year, the revenue was 2.086 billion yuan, a year-on-year increase of 9.32%; The net profit attributable to the parent company was 368 million yuan, a year-on-year increase of 2.47%, reversing the downward trend of net profit.
Stabilize the position of traditional kitchen appliances and actively expand new kitchen appliances, so that Hangzhou Robam Appliances Co.Ltd(002508) maintain the continuous growth of revenue, and its dishwasher business doubled last year. Because among kitchen appliances, the retail sales of traditional kitchen appliances in China fell slightly last year, and the retail sales still increased; The market scale of emerging kitchen appliances, including dishwashers and embedded steamers and ovens, is growing.
According to the total promotion data of AVC, in 2021, the market scale of range hood in China was 21.5 million units and 33.3 billion yuan. The retail volume decreased by 6% year-on-year and the retail volume increased by 4%; The market scale of gas stoves was 25.43 million units, 19.1 billion yuan, the retail volume decreased by 9% year-on-year, and the retail volume increased by 2%; The retail sales of dishwashers reached 9.96 billion yuan, a year-on-year increase of 14.4%, and the retail sales of 1.952 million units, a year-on-year increase of 1.7%; The retail sales of embedded integrated steaming and baking machines were 5.6 billion yuan, a year-on-year increase of 26%, and the retail sales were 950000 units, a year-on-year increase of 22%. The growth momentum of emerging kitchen appliances is strong, and China’s kitchen appliance industry has entered a new era of category expansion.
Hangzhou Robam Appliances Co.Ltd(002508) ‘s products are mainly divided into three categories and integrated categories, including smoke stove consumer product group, electric cooking product group such as steamer and oven, kitchen electric product group such as dishwasher, gas water heater and water purifier, and integrated product group such as integrated stove and range hood.
In 2021, Hangzhou Robam Appliances Co.Ltd(002508) of all categories increased year-on-year, and the sales of range hoods and gas stoves increased by 18.73% and 27.25% respectively; The sales of integrated steaming and baking machine and oven increased by 71.26% and 11.69% respectively; The sales of dishwashers and water heaters increased by 101.32% and 172.57% respectively; The sales of integrated stoves increased by 25.97%.
In 2022, Hangzhou Robam Appliances Co.Ltd(002508) plans to consolidate the industry position of traditional kitchen electric products, realize the comprehensive breakthrough of electrified cooking products and water kitchen electric products, and accelerate the layout of new categories. At this year’s spring new product launch, Hangzhou Robam Appliances Co.Ltd(002508) released a new integrated stove and tested the water refrigerator business for the first time.
In the first quarter of this year, the traditional kitchen electricity market declined. According to the total data pushed by Aowei cloud, in the first quarter of 2022, the sales of range hoods, gas stoves and disinfection cabinets in China were 9.62 billion yuan, a year-on-year decrease of 7%. Not only Hangzhou Robam Appliances Co.Ltd(002508) , other kitchen faucets are also accelerating the expansion of new categories. Fangtai released new products such as dishwashers and smart stoves this spring, and is still laying out product lines such as floor washers.
