Views: 0 Author: Site Editor Publish Time: 2024-11-04 Origin: Site
Through the release of the third quarter financial report of household appliance enterprises in the recent period, it can be clearly seen that in the third quarter, the revenue and profits of the vast majority of enterprises either declined or slowed down, and only a few household appliance enterprises that exported overseas or adhered to the "domestic and overseas" dual-line market layout achieved double growth in revenue and profit. For example, Haier, Midea, as well as Xinbao, Stone, Lake, Supor and other companies, globalization or overseas market expansion earlier, naturally found "uncertain growth opportunities in the uncertain market channel".
Specifically, the market performance of various categories in the electricity industry can be said to be "uneven". Among them, the white electricity market as a whole is relatively stable, and the concentration of branding and giantization is accelerating; The black electricity market as a whole is under pressure, and domestic shipments have been declining, so it can only be pinned on the expansion of overseas markets and the development of OEM business; The kitchen appliance market has been dragged down by the adjustment of the real estate industry, and has not yet come out of the quagmire, and the sharp decline in the integrated stove market is nowhere to go; The export business of household appliances is also better than the domestic market, forcing all enterprises to accelerate the transformation; The clean appliance market continues to maintain a steady growth trend, driven by opportunities in overseas markets and popularity in the domestic market , the development of the enterprise has sufficient stamina.
This year's operation and snatching of the home appliance market, for all home appliance manufacturers, it has been less than 2 months, although many manufacturers are still "heavy tasks, high pressure", the benefit is that external policy assistance is being upgraded step by step, will continue to promote the development of related enterprises and markets!
In the first three quarters of 2024, the total net profit attributable to the parent company of the top 10 white power enterprises will be about 71.5 billion yuan, and three companies will make profits of more than 10 billion yuan, Midea Group, Gree Electric Appliances and Haier Smart Home will make profits of 31.7 billion yuan, 22 billion yuan and 15.2 billion yuan respectively. The total net profit of the three major appliance giants is about 68.9 billion yuan, taking away more than 96% of the profits of the entire white power listed companies, and the market position is difficult to challenge, and the total of other companies is less than 4%.
Among them, Midea Group and Haier Smart Home both achieved revenue and net profit growth in the quarter, while Gree Electric Appliances experienced a decline in revenue in the third quarter. It is worth mentioning that although Midea Group and Haier Smart Home can still maintain positive revenue growth, the slowdown in revenue growth of the two companies in the third quarter cannot be ignored.
Haier Smart Home released its 2024 third quarter report, with the company's revenue of 203 billion yuan, a year-on-year increase of 2.2%; the net profit attributable to the parent company was 15.15 billion yuan, a year-on-year increase of 15.3%; The quality of operation continues to improve steadily. Among them, the market share of Haier refrigerators and washing machines continues to rank first in the industry, and Haier's water heaters rank first in multiple channels; Haier's competitiveness in the global market was further enhanced, and its export sales in Q3 increased by 45.7% year-on-year, leading the industry. Casarte's retail sales growth in Q3 was higher than the overall level, with retail sales increasing by 19.1% year-on-year in September.
Haier Smart Home continues to achieve steady growth through global independent brand creation, high-end brand creation, continuous promotion of digital transformation, and implementation of the smart home strategy. In the domestic market, we actively grasp the opportunity of trade-in, give full play to the high-end advantages, lay out multiple brands to cover diverse demand groups, and lead the high-end with Casarte; In the face of overseas markets, in developed countries in Europe and the United States, we will increase our share by leading and deepening the supply chain layout with innovative products, and actively explore the localization strategy in emerging markets. At the same time, it also opens up new tracks such as three-winged bird smart homes and smart buildings to create new growth poles.
Midea Group released a report that its operating income in the first three quarters was 318.975 billion yuan, a year-on-year increase of 9.57%; The net profit attributable to the parent company was 31.699 billion yuan, a year-on-year increase of 14.37%. In the third quarter, the operating income was 101.701 billion yuan, a year-on-year increase of 8.05%; net profit was 10.895 billion yuan, a year-on-year increase of 14.86%. Thanks to the company's accelerated global layout, overseas e-commerce sales revenue maintained a 50% growth; At the same time, it firmly promoted industrial upgrading and further increased investment in ToB business, igniting the second growth engine of B-end business such as new energy and industrial technology, intelligent building technology, robotics and automation.
As an important part of the second engine, Midea also attaches great importance to ESG construction, and innovates the O2O model to apply the old to the new, so as to provide support for enterprises in green transformation. Since the release of the "Smart Industry" strategy, Midea Group has continuously deepened the integration of smart and green to build a complete sustainable solution. A few days ago, Midea officially released the industry's first "Green Industry Case Collection", aiming to share Midea's experience in green and sustainable development, and provide reference for more industrial enterprises seeking transformation.
Gree Electric released the third quarter report of 2024, achieving operating income of 146.72 billion yuan, a year-on-year decrease of 5.34%; The net profit was 21.96 billion yuan, a year-on-year increase of 9.3%. Among them, the revenue in the third quarter was 46.94 billion yuan, a year-on-year decrease of 15.84%; The net profit was 7.82 billion yuan, a year-on-year increase of 5.47%. It was the shrinking revenue in the third quarter that directly led to a year-on-year decline in the company's revenue in the first three quarters, which made Gree Electric Appliances hand over the report card of "revenue decline and net profit increase", indicating that the company's operating quality has steadily improved.
Compared with the outstanding enterprises in the same industry, the total revenue and net profit of Gree Electric Appliances are not ideal. As for the decrease in business income, Gree Electric Appliances said that it was due to the adjustment of business structure. In terms of business, the main business income in the first three quarters was 132.2 billion yuan, a year-on-year increase of 2.9%; Other business income was 14.52 billion yuan, a significant decrease of 45.3% year-on-year. "Other business" refers to the centralized procurement and allocation of bulk raw materials, including steel plates, plastic raw materials, copper and foam, as well as the sale of some scrap products.
Hisense Home Appliances released its third quarter report for 2024, achieving operating income of 70.579 billion yuan, a year-on-year increase of 8.75%; the net profit attributable to the parent company was 2.793 billion yuan, a year-on-year increase of 15.13%; The net profit after deducting non-attributable to the parent company was 2.289 billion yuan, a year-on-year increase of 10.99%. On the same day,Hisense Home Appliances released《Carbon Neutrality White Paper),Proposed to achieve the goal of carbon neutrality in operations no later than 2050,And clarify the short-term、Medium-term、Long-term carbon neutrality planning and phased goals,Show a firm commitment to take the path of green, low-carbon and sustainable development。
Hisense Home Appliances adheres to the internationalization strategic goal of "the big head is overseas", and the overseas market has grown significantly. In the first three quarters, the company's overseas revenue increased by 29.43% year-on-year, and the overseas gross profit margin increased by 1.02 percentage points year-on-year. At the same time, the scale of Hisense's home appliance business in the mid-to-high-end market has achieved steady growth. As of the third quarter of 2024, Hisense's bright high-end suite revenue increased by 27% year-on-year, and the proportion of offline high-end increased by 4.4 percentage points. Rongsheng refrigerator continues to be recognized by the market by virtue of a number of leading innovations in the field of fresh food such as WILL fresh food and IDP double net technology, and Rongsheng 506IDP double net Pro refrigerator dominates the TOP1 list during the reporting period.
Compared with the improvement of the white electricity market in the first three quarters, the overall pressure trend of the color TV and panel industry remains unchanged. Hisense Video、TCL Technology、Konka Group all released 2024Third Quarter Report,In addition to Hisense Video's operating income increased by 3.63% year-on-year,The revenue of the other two companies decreased year-on-year,Konka is almost "cut in half"; In terms of net profit, the three companies have declined to varying degrees, among which Konka's net profit is negative, reflecting the uncertain prospects of the industry.
Hisense Video's third quarter report in 2024 shows that the company's operating income is 40.650 billion yuan, a year-on-year increase of 3.63%; The net profit attributable to the parent company was 1.310 billion yuan, a year-on-year decrease of 19.53%. Specific to the single-quarter data, the revenue in the third quarter of 2024 will be 15.189 billion yuan, a year-on-year increase of 5.84%; The net profit attributable to the parent company was 476 million yuan, a year-on-year decrease of 19.46%. Hisense video said,Including panel costs、Cost growth including sales expenses and management expenses is the main reason for the decline in profits,How to reduce costs and increase efficiency in the next step will be the main topic。
TCL Technology's operating income in the first three quarters of 2024 was 123.028 billion yuan, a year-on-year decrease of 7.57%; The net profit attributable to the parent company was 1.525 billion yuan, a year-on-year decrease of 5.34%. In terms of business, during the reporting period, the semiconductor display business achieved operating income of 76.956 billion yuan, a year-on-year increase of 25.74%; The net profit was 4.443 billion yuan, an improvement of 6.067 billion yuan year-on-year, the share of TV panels ranked second in the world, the market share of 65-inch and 75-inch ranked first in the world, and the proportion of shipment area of 65-inch and above products increased to 55%; In terms of new energy photovoltaic and other silicon materials business, TCL Zhonghuan achieved operating income of 22.582 billion yuan and net profit of 6.478 billion yuan in the first three quarters.
Konka Group released its report for the first three quarters of 2024, and the company's operating income was 8.120 billion yuan, a year-on-year decrease of 45.42%; the net profit attributable to the parent company was -1.606 billion yuan, a year-on-year decrease of 124.67%; The net profit after deducting non-attributable to the parent company was -1.717 billion yuan, a year-on-year decrease of 24.65%. In the third quarter, the operating income was 2.707 billion yuan, a year-on-year decrease of 38.53%; The net profit was -518 million yuan, a year-on-year increase of 0.60%. Even if its semiconductor industrialization is developing well, it is difficult to reverse the overall loss and decline of TV and other businesses.
In recent years, after experiencing explosive growth, the retail sales of the industry will show negative growth for the first time in 2023, and the market demand will be further weakened in 2024, and the integrated stove industry will enter a period of deep adjustment. Up to now, four companies of integrated stove listed companies have released 2024 Q3 performance reports, bad news has come again, revenue net profit has fallen again, and some companies have begun to suffer net profit losses.
Shuaifeng Electric's operating income in the first three quarters of 2024 will be 313 million yuan, a year-on-year decrease of 49.76%; The net profit attributable to the parent company was 44.0753 million yuan, a year-on-year decrease of 68.35%. In the third quarter, the total operating income was 79.8016 million yuan, a year-on-year decrease of 52.82%; The net profit attributable to the parent company was 3.8772 million yuan, a year-on-year decrease of 84.77%. Zhejiang Meida's revenue in the first three quarters of this year was 654 million yuan, a year-on-year decrease of 48.16%; net profit was 106 million yuan, down 70.67% year-on-year; revenue in the third quarter was 195 million yuan, down 60.18% year-on-year; net profit was 90 million yuan, down 93.78% year-on-year.
The performance of the other two integrated stove companies, Martian and Yitian Intelligent, is even more "miserable", not only with a sharp decline in revenue and profit, but also a net profit loss. Martian's revenue in the first three quarters was 1.013 billion yuan, a year-on-year decrease of 35.51%; net profit was 8.9 million yuan, down 93.22% year-on-year; revenue in the third quarter was 316 million yuan, down 42.29% year-on-year; The net profit was a loss of 26 million yuan, a year-on-year decrease of 134.54%. Yitian Intelligence's revenue in the third quarter of 2024 will be 106 million yuan, a year-on-year decrease of 67.57%; The net profit loss was about 28 million yuan, a year-on-year decrease of 159.52%. The operating income in the first three quarters was about 449 million yuan, a year-on-year decrease of 52.45%; The net profit loss was about 11 million yuan, a year-on-year decrease of 106.30%.
The market performance of the kitchen appliance industry in the first three quarters of this year was "hot for export and cold for domestic sales". The national trade-in subsidy has allowed the domestic kitchen appliance market to rebound from the trough, but the third quarterly report of Robam Appliances is very average. According to the data, the revenue of Robam Appliances in the first three quarters of 2024 was 7.396 billion yuan, a year-on-year decrease of 6.78%, and the net profit attributable to the parent company was 1.2 billion yuan, a year-on-year decrease of 12.44%, of which the revenue and net profit attributable to the parent company in the third quarter fell by 11% and 18% respectively, which was greater than the previous three quarters, and it entered a trough period of development.
Unlike Robam Appliances, which mainly focuses on the domestic market, the performance of Xinbao shares, which is mainly based on the export of small household appliances, is quite "eye-catching". In the first three quarters of 2024, Xinbao achieved revenue of 12.69 billion yuan, a year-on-year increase of 18%, and net profit attributable to the parent company of 780 million yuan, a year-on-year increase of 6.66%. In the evening, Xinbao also announced that it would increase its capital by 50 million US dollars to its Indonesian subsidiary to facilitate the expansion of overseas production scale; At the same time, a Shenzhen R&D department will be set up to enhance R&D and design capabilities.
In the first three quarters of this year, Supor, a leading enterprise of small household appliances, achieved a double increase in volume and profit, with revenue increasing by 7.45% to 16.512 billion yuan, and net profit attributable to the parent company increasing by 5.18% to 1.433 billion yuan, mainly benefiting from the expansion of categories with a larger span and the balanced development of domestic and foreign sales. Under the challenge of sluggish domestic market demand, Supor will continue to promote product innovation and enrich product categories. Supor also revealed that its related party transactions with its parent company, the French Cyber Group, will increase from the original estimate of 6.2 billion yuan to 6.95 billion yuan in 2024 to expand overseas sales.
Joyoung Co., Ltd. released the third quarter report of 2024, and the company achieved operating income of 6.182 billion yuan, a year-on-year decrease of 8.84%; The net profit attributable to the parent company was a loss of 98.0639 million yuan, a year-on-year decrease of 73.02%. Xiaoxiong Electric is also not optimistic: the operating income in the first three quarters of 2024 will be 3.139 billion yuan, a year-on-year decrease of 5.40%; the net profit attributable to the parent company was 180 million yuan, a year-on-year decrease of 42.91%; Among them, the net profit in the third quarter was only 19.2393 million yuan, a year-on-year decrease of 75.60%.
BOE" is really like Only one "ADS Pro Technology Tasting Meeting" was held, which comprehensively demonstrated ADS by creating three scene interactive areas of "Light and Shadow Showing Truth", "Ten Thousand Images Returning to Truth" and "Racing to See the Truth", as well as vivid examples and on-site experiences, interpreting industry misunderstandings and consumer cognitive biasesThe excellent performance of Pro technology in terms of high ambient light contrast, no color shift in all viewing angles, high refresh rate and dynamic picture optimization has promoted the healthy development of the global display industry.
In the new era of ubiquitous display, behind the continuous iteration of display technology, it shows the increasingly prominent value of Chinese technology on the global stage. As a leader in the global semiconductor display field, BOE also joined hands with JD.com to jointly launch the "Industrial High Value Growth Initiative" with industry partners, marking the opening of a new era of high-quality development of China's display industry from price competition to value competition, injecting a steady stream of new momentum into the high-quality development of the industry, and helping Chinese screens go global.
According to the latest report of "Monthly Tracking of China's Smart Projection Retail Market" released by Lotu Technology, the omni-channel sales of China's smart projection market (excluding laser TV) in the third quarter of 2024 will be 1.27 million units, a decrease of 9.7% over the same period last year; Sales also decreased to 1.89 billion yuan, down 5.9% year-on-year. In the third quarter, the omni-channel retail volume of China's smart projection market was 4.16 million units, a slight decrease of 0.9% year-on-year; Sales were 6.71 billion yuan, down 8.3% year-on-year.
After experiencing rapid growth in the early stage, the smart projection market began to enter a relatively flat adjustment period, and smart projection companies are also under pressure. XGIMI Technology released a third-quarter performance announcement, achieving revenue of about 2.281 billion yuan, a year-on-year decrease of 5.8%, and a net profit loss attributable to the parent company of about 40.33 million yuan. Previously, XGIMI had fallen into the quagmire of losses, and the net profit in the second and third quarters was still continuing. In the case of saturation of the domestic market, XGIMI actively goes to sea, reduces prices, and builds cars to seek a way out, but the risk is not small.
In the first three quarters of this year, clean appliances are still a star category, ranking in the first echelon of the home appliance market with double-digit growth. Among them, Roborock's performance led the industry, with an operating income of 7.007 billion yuan in the first three quarters, a year-on-year increase of 23.17%; The net profit attributable to the parent company was 1.472 billion yuan, a year-on-year increase of 8.22%. On the one hand, thanks to the continuous expansion of the company's product market share, on the other hand, the company's overseas business grew faster and the gross profit margin increased. Moreover, the sweeper market is stable, and the share of washing machines is also rising rapidly, which has great potential.
The performance of Lake Electric and Delmar has risen steadily. In the first three quarters, Lake Electric achieved a total operating income of 7.246 billion yuan, a year-on-year increase of 11.98%, and a net profit of 879 million yuan, a year-on-year increase of 6.08%. Delmar achieved operating income of 2.399 billion yuan in the first three quarters, a year-on-year increase of 5.66%; net profit attributable to the parent company was 104 million yuan, a year-on-year increase of 4.10%; Under the development strategy of "multi-brand, multi-category and globalization", Delmar has made steady progress, with revenue and profit in the third quarter increasing by 8.80% and 11.18% year-on-year, respectively.
The biggest divergence came with Ecovacs. In the first three quarters of 2024, Ecovacs achieved operating income of 10.226 billion yuan, a year-on-year decrease of 2.9%; net profit attributable to the parent company was 615 million yuan, a year-on-year increase of 1.88%; deducted non-net profit of 531 million yuan, a year-on-year increase of 1.69%. In the third quarter, Ecovacs' operating income was 3.25 billion yuan, a year-on-year decrease of 4.06%; The net profit attributable to the parent company fell by 69.21% year-on-year. Revenue declined, net profit attributable to the parent increased slightly, and the company's growth momentum was insufficient.
Home appliance companies continue to make efforts in the field of sports marketing, and Hisense Group is both a pioneer and a leader. Recently,Hisense officially became2025FIFA Club World Cup global official partner,This is the first official sponsor of the newly upgraded Club World Cup,Re-affinity with FIFA,Deep cultivation of sports marketing。 Jia Shaoqian, chairman of Hisense Group, presented Hisense's latest 110-inch AI TV to FIFA President Gianni Infantino. HisenseAITV will bring the most exciting Club World Cup,Leading the TV industry into a new AI era。
Hisense sponsors the latest version of the 2025FIFA Club World Cup, which is the third time that Hisense and FIFA have joined hands. Previously, Hisense Group and FIFA have successfully cooperated in the 2018 Russia World Cup and the 2022 Qatar World Cup, and the cooperation time has been as long as seven years. The closer strategic partnership between the two sides will also allow the Hisense brand to take advantage of sports marketing and further enhance its brand image in the global market.
Huawei disclosed its consolidated and parent financial statements for the third quarter of 2024. In the consolidated income statement, Huawei's operating income in the first three quarters was 585.9 billion yuan, a year-on-year increase of about 29.54%; The net profit attributable to the parent company was 62.868 billion yuan, a year-on-year decrease of about 13.74%. In the first half of this year, Huawei achieved sales revenue of 417.5 billion yuan and a net profit margin of 13.2%. According to this calculation, in the third quarter of 2024, Huawei's revenue will be 168.4 billion yuan and its net profit will be 7.758 billion yuan. Ren Zhengfei still said that it cannot be said that Huawei can survive today.
Huawei did not announce the specific results of each segment in the financial report, but according to the information released by market research institutions, the growth of Huawei's revenue is mainly due to the rapid recovery of its consumer business, as well as the rapid development of smart cars, Huawei Cloud, and digital energy businesses. In the first three quarters, Huawei's R&D expenditure was 127.412 billion yuan, up 10.80% year-on-year, accounting for 21.75% of revenue.
Apple announced its results for the fourth fiscal quarter of 2024 ended September 28, with revenue of $94.93 billion, up 6% year-on-year, and net profit of $14.736 billion, down 36% year-on-year. By region, Greater China remains the only market where Apple's revenue fell year-over-year, with revenue of $15.033 billion in the fiscal quarter, less than analysts' expectations of $15.8 billion, but the decline narrowed. Apple expects revenue growth in the first quarter of fiscal 2025 to be in the low to mid-single digits.
According to the results released by Philips, the company's sales revenue in the third quarter of 2024 was 4.38 billion euros, compared with 4.47 billion euros in the same period of the previous year. Net profit in the third quarter rose to 181 million euros from 90 million euros in the prior-year quarter. Although net profit doubled in the third quarter, Philips has sharply lowered its sales growth forecast for this year due to sluggish demand in China, and expects comparable sales growth in 2024 to be only 0.5% to 1.5%, well below its previous forecast of 3% to 5%.
According to media reports, Samsung Electronics has shut down more than 30% of its foundry production lines in the 4nm, 5nm and 7nm processes at its Pyeongtaek 2 and 3 production sites, and plans to expand the shutdown to about 50% by the end of the year. The company said it would gradually stop production and flexibly adjust according to customer order demand. According to internal sources, Samsung believes it is more cost-effective to shut down low-capacity production lines and reduce electricity costs. The move demonstrates Samsung's determination to control operating costs.
Samsung Electronics' foundry division has been challenged to secure large orders from global technology companies such as Nvidia, AMD and Qualcomm. Its foundry business lost about 1 trillion won (currently about 5.169 billion yuan) in the third quarter, so the company chose to stop some production lines to cut expenses. However, Samsung Electronics is more focused on memory chips, the core business of semiconductors, and as the factory shutdown shuts down, the gap with its competitors will be even greater, which may affect its competitiveness in the foundry market.
Shandong Market Supervision Bureau recently released the results of the 2024 provincial supervision and random inspection of refrigerator product quality, and the results show that Shandong Yuanshuo Electric Co., Ltd., Shandong Zhuolang Household Appliances Co., Ltd., Shandong Xiaoya Group Household Appliances Co., Ltd., Hefei Meiling IoT Technology Co., Ltd. and other 8 batches of products produced or sold do not meet the requirements of relevant standards. Among them, the unqualified items of 2 products of duckling refrigerator are total volume, freezing capacity, energy efficiency level, storage temperature, and power consumption, and 1 product is still unqualified after re-inspection.
In July this year, Shandong Little Duck Group Household Appliances Co., Ltd. was punished by the Market Supervision and Administration Bureau of Licheng District, Jinan City, for selling substandard washing machine products. As a traditional home appliance brand, Little Duck has been vigorously developing the home appliance business in recent years, and has been increasing the volume on a large scale in categories such as washing machines and refrigerators, as well as smart home appliances. However, the product has repeatedly been on the black list due to "unqualified quality", which also reflects the loopholes in its quality control and management. The low-cost operation and external licensing method are depleting its brand image.
