Appliances report performance like "Tai Chi" in a quarterly report

The first-quarter financial reports of listed companies in the household appliance industry have been released. As a whole, the reports of black and white enterprises are like a Tai Chi.

In the field of black-box, traditional enterprises have generally declined, revenue growth and profitability have declined to varying degrees, while Internet companies have stood out and have made outstanding achievements.

White power companies as a whole see the red line across the board, the trend is relatively stable. However, careful analysis is not difficult to find, the competition between white-power giants is further upgraded, and the industry landscape may change.

In the field of black power: Traditional enterprises are having a hard time. Internet companies are happy. A quarterly report shows that the traditional enterprises in the field of black electronics suffered a “cold winter” in 2014. In addition to TCL revenue and net profit growth, Changhong, Konka, Hisense revenue and net profit have all declined in varying degrees, of which Changhong's largest decline, net profit fell by more than 90%.

Liu Buchen, an expert in home appliances, analyzed that the decline in the performance of color TV companies and the “price wars” of Internet companies, subverting the “hardware profit” model and driving down the price of the entire color TV market have an important relationship.

In contrast, Internet companies are happy to see music. Recently, a quarterly report released by LeTV revealed that it achieved revenue of 1.027 billion yuan and net profit of 85.71 million yuan, an increase of 200.38% and 20.52% respectively year-on-year.

AVC's monitoring report data shows that in the first quarter of 2014, LeTV Q1 Super TV ranked first in the online sales of all brands for three consecutive months with a 19% share, of which sales exceeded 100,000 in March. station.

LeTV's performance as a good performance, but also to many people in the industry more optimistic about the "platform + content + terminal + application" of the entire industry chain business system. Professionals believe that currently LeTV's shipments are still unable to meet the needs of users, improve the supply chain construction, LeTV will no longer be constrained by capacity, performance or will be further growth.

White areas: The Big Three led the rise and competition became more intense. On April 29th, three 100bn white giants Gree, Haier and Midea issued a quarterly report at the same time. The US revenue grew by 21.5% year-on-year, net profit increased by 148.53% year-on-year and led the white power industry; Gree's revenue increased by 11.62% year-on-year, net profit increased by 68.86% year-on-year; Haier's revenue increased by 8.97% year-on-year, and net profit increased by 20.28% year-on-year . It is worth mentioning that the United States surpassed Gree for the first time in terms of revenue and profit.

Some media analysts believe that the development paths of this year's three companies, the United States, Gree, and Haier, are quite different.

The United States actively embraced the transformation of the Internet, signed cooperation with Alibaba, and launched the smart home and e-commerce strategy. The on-line force has already begun to take shape. Gree sticks to the industrial spirit of the traditional manufacturing industry and has a dull appearance in the "touch net". More energy is still devoted to the research and development of home central air conditioners and commercial central air conditioners. Haier does not seem to have a big strategy change and still adheres to a strategy of diversified development.

Fang Hongbo, chairman of Midea Group, said that the quarterly report growth mainly comes from the transformation of the company and the improvement of product structure. This year, the company will return to the track of re-growth. Ji Min, an analyst at China Merchants Securities, pointed out that in addition to the strategic transformation, the implementation of the US equity incentive plan, the proportion of shares held by the core executive team accounted for 11.27% of the company's shares, interest binding to pull performance intuitive and effective.