As the white industry's two leading enterprises, Gree Electric and the United States Group (000333.SZ) in the field of home appliances competition for a long time, the two sides often choose to perform at the same time point of disclosure.
October 30 evening, following the semi-annual report, Gree and Midea Group once again invariably choose the same time revealed the three quarterly, the two leading companies revenue and net profit showed a substantial increase.
Among them, Gree first three quarters of operating income of 110.875 billion yuan, owned by the net profit of 15.461 billion yuan; the first three quarters of the United States Group to achieve operating income of 186.649 billion yuan, owned by the net profit of 14.998 billion yuan.
At the shareholder level, the third quarter, the two companies to reverse the operation of the company, holding the US group, a slight reduction of Gree appliances, while the National Social Security Fund, the choice of Gree Electric has been holdings.
In the stock performance, the two listed companies also showed a trend of competition, and both hit a record high in the past two days as of October 31 closing, Gree Electric reported 42.55 yuan / share, the total market value of 256 billion yuan; The United States and the Group reported 51.00 yuan / share, the total market value of 332.5 billion yuan.
Performance you catch me up
According to the three quarterly disclosure, the first three quarters of this year, Gree total operating income of 110.875 billion yuan, an increase of 34.51%; total net profit of 15.461 billion yuan, an increase of 37.68%.
Talked about the reasons for the hot sales this year, Gree Electric received in the recent survey of investors, mainly with the previous two years of real estate driven by the strong demand; consumer upgrades under the market for product replacement needs; this year's hot weather Factors; coal to electricity policy and some other countries to promote the project policy.
It is reported that as of the end of the third quarter, Gree electrical advance receipts of $ 2,288,000,000, an increase of 16.4 billion over the same period last year.
Midea Group in the first three quarters of this year a total of operating income of 187.764 billion yuan, an increase of 60.64%; a total of 14.98 billion yuan net profit, an increase of 17.10%.
From the perspective of operating income, the United States and the Group of more than Gree appliances, but in the net profit dimension, Gree appliances with a slight advantage over the US group.
This situation reflects the two companies are different strategic layout.
In January, Midea Group announced the completion of the tender offer to acquire the German industrial robots giant KUKA Group shares of the delivery work, the payment of all payments, the United States through its wholly foreign subsidiary holding Kuka Group nearly 94.55% stake.
Midea Group in the three quarterly said that the substantial increase in operating income is mainly due to sales growth and the merger of the Kuqa Group.
However, compared to 60.64% of operating income growth, 17.10% of the net profit increase slightly dislocation.
In the first three quarters of this year, the original business operating income of 15.6389 billion yuan, an increase of 39%; owned by the net profit of 15.7 billion yuan, an increase of 23%, the endogenous camp The Group for the first three quarters of the contribution of revenue of 19.837 billion yuan, an increase of 27%.
'KUKA Group in the first quarter of this year into the table, from the current situation, the US group for the expansion of the scale of revenue has played an important role, but the lower gross margin of the robot business also dragged down the profitability of the Group's profitability. 'Southwest region, a brokerage analyst on October 31 told reporters.
Raw material prices
Contrast the US group in the first half of this year 41.47% consumer appliances, 40.03 air conditioners and 10.89% of the robot's income structure, mid-year report shows that air conditioning revenue accounted for Gree total 78.03% of total revenue.
Visible air conditioning industry boom, whether for the United States or Gree in terms of both important.Especially Gree Electric, its first three quarters of this year, total sales of 34.87 million units, is close to its annual sales in 2016, the domestic market share of 35.6% Ranking first in the industry.
It is noteworthy that since the second half of last year, air conditioning raw material costs continue to rise.
'Since the second half of last year, refrigerants, copper, aluminum and other raw materials continue to rise prices. By September this year, copper and aluminum prices rose nearly 40% and three percent, labor costs and logistics costs are also rising.' Beijing District, a household electrical appliance industry, told reporters.
Due to the rising cost of raw materials, Gree's gross profit margin for the first three quarters was 31.37%, down 2.75% year-on-year, but the third-quarter decline in gross profit margin was narrowed to 1.35% from 8.04% in the second quarter.
21st Century Business Herald reporter learned that, in response to fluctuations in raw material prices for bulk raw material procurement to bring the cost of the risk of the United States and Gree Group have carried out some of the raw materials hedging business.
In addition, with the release of the United States and Gree three quarterly, 'national team' funds in which the holdings of movements have also been one by one disclosure.
Gree Electric, the gold company in the third quarter of its more than 1142 million shares of the holdings, the shareholding ratio from the end of the second quarter of 1.24% to 1.05%. This is since the declaration of the company to become Gree new The first reduction since the shareholders.
However, the social security fund 108 combination of holdings of about 300 million shares of Gree, the proportion of holdings rose to 0.89%. Central Huijin holdings unchanged, still 1.40%.
Midea Group is followed by the mid-year report once again to obtain the holdings of the certificate company, holdings 2236.31 million shares, the shareholding ratio from the end of the second quarter rose 2.70% to 3.05%.