Haier Smart Home Co.Ltd(600690) 428 released the performance report for the first quarter of 2022. From January to March, the company achieved an operating revenue of 60.25 billion yuan, an increase of 10% year-on-year; The net profit attributable to shareholders of listed companies was 3.52 billion yuan, a year-on-year increase of 15.1%; The gross profit margin was 28.5%, an increase of 0.05 percentage points year-on-year, and the basic earnings per share was 0.38 yuan.
Casati renewables sales revenue increased by 32.3% year on year
In the context of consumption upgrading, Haier Smart Home Co.Ltd(600690) its high-end brand Casati has accumulated a lot by virtue of its multiple advantages in products, channels and marketing. The first quarterly report showed that Casati continued to maintain a high growth trend, and the sales revenue from January to March increased by 32.3% year-on-year. Among them, kitchen appliances, air conditioners, washing machines and other businesses performed well. In terms of kitchen power business, Haier Smart Home Co.Ltd(600690) adheres to the brand strategy of high-end complete sets. The explosion of Casati gourmet and Galaxy set has driven the rapid growth of kitchen power scale, and Casati’s kitchen power revenue has increased by 70.3% year-on-year; In terms of air conditioning business, Haier Smart Home Co.Ltd(600690) reached 24.3% in the high-end market share of household air conditioning (hanging up above 4000 yuan / cabinet machine above 10000 yuan), an increase of 4.8 percentage points year-on-year.
Revenue growth of high-end brands in North America
Affected by the epidemic and other factors, the uncertainty of overseas markets in 2022 has increased. Relying on the Trinity localization layout of “R & D, manufacturing and marketing”, Haier Smart Home Co.Ltd(600690) , through the global supply chain system, globalized market pattern and globalized services independently created for more than 20 years, it has effectively alleviated the pressure of many parties. According to the first quarterly report, Haier Smart Home Co.Ltd(600690) overseas business revenue increased by 4.2% year-on-year from January to March; The operating profit margin increased by 0.1 percentage points year-on-year, and the overseas profitability continued to improve.
Specifically, the share of Q1 core household appliances in the U.S. market continued to increase in 2022, and the revenue of the three high-end brands monogram, CAF é and GE Profile increased by more than 30% year-on-year. In the European market, Haier Smart Home Co.Ltd(600690) adheres to the high-end transformation strategy and promotes the implementation of localized business operation capacity.
digital continuous cost reduction and efficiency increase operation rate re optimization
The recurrence of the epidemic and the continued high global commodity prices have put forward higher requirements for the fine management of enterprises. Since 2022, Haier Smart Home Co.Ltd(600690) has accelerated the digital transformation and continuously promoted the optimization of operation efficiency from digital R & D and design, logistics and service process reengineering, interconnected factories and other links.
Benefiting from the digital transformation, Haier’s intelligent operation efficiency has been continuously improved and the rate has been re optimized. Among them, the sales expense rate has been optimized by 0.4 percentage points compared with the same period of last year; The management expense ratio was 0.3 percentage points higher than that of the same period last year.
While reducing costs and increasing efficiency, Haier Smart Home Co.Ltd(600690) continues to carry out research and development, focusing on the creation and breakthrough of core technologies and core capabilities in the field of smart home, such as smart home brain platform, subversive and advanced technology layout of various industries, construction of technical capability of three winged bird scene brand, etc., and realizes the leading from product technology to scene technology. In terms of product science and technology, Haier Smart Home Co.Ltd(600690) is the only one in the industry in the 2021 “science and technology innovation China” list; In terms of scene technology, Haier Smart Home Co.Ltd(600690) became the only Chinese member of HCA (home connection) alliance, achieved six consecutive global smart home invention patents, and led the formulation of the world’s first free embedded refrigerator standard.
effectively cope with the price rise of raw materials and increase the gross profit margin
In the first quarter of 2022, China’s overall economy was still in a stable recovery trend. In the face of repeated outbreaks, high raw material prices and declining overseas exports, Haier Smart Home Co.Ltd(600690) gross profit margin increased instead of decreasing, reaching 28.5%, an increase of 0.05 percentage points year-on-year. This is due to the company’s long-term focus on R & D and innovation, high-end brand building, overseas Trinity global layout and multi brand operation ability, And the cost reduction and efficiency improvement brought by promoting digital operation in recent years.
smart home landing acceleration, additional 120 three winged bird stores
“2022q1 China’s home appliance market resumption” points out that the period from 2004 to 2008 belongs to the era of incremental popularization of home appliances, and the period from 2009 to 2018 is the coexistence of stock and increment. Today is an era of limited differentiation, and enterprises need to deeply manage users. Differentiation, personalization and scenario are the important ways to manage users.
In this regard, Haier Smart Home Co.Ltd(600690) ‘s scene brand three winged bird has greatly improved user value and enterprise value by providing users with one-stop customized smart home services for home appliances, home furnishings, home decoration and home life. The first quarterly report showed that the three winged bird continued to accelerate the construction of channels, and another 120 stores were added from January to March.
At the same time, through the empowerment of various businesses, three winged birds helped Haier Smart Home Co.Ltd(600690) performance grow continuously. Taking household air conditioning as an example, the household central air conditioning business integrated the brand voice of the three winged bird scene, provided users with professional and convenient one-stop solutions based on the three networks in one user platform for sales, design and service, and achieved a year-on-year increase of more than 70%.
In the current context of intensified industry competition, high raw material costs and repeated epidemics, Haier Smart Home Co.Ltd(600690) ‘s first quarterly report once again released a positive signal to the outside world, showing the resilience and potential of performance. In the long run, with the continuous digital empowerment, cost reduction and efficiency improvement, and the gradual release of high-end and global layout effects, Haier Smart Home Co.Ltd(600690) will usher in a new stage of development as it enters the new scene ecological track.
