The toughest regulation of the property market in history has made the days of the kitchen-electrics industry, which are closely related to each other, not be easy. The total channel data of AVC has been displayed: In the first quarter of 2018, the kitchen appliance market (hood, stove, disinfection) Retail sales of cabinets totaled 12.8 billion yuan, down 6.1% year-on-year; retail sales were 13.669 million units, down 3.3% year-on-year, and prices were falling, and the industry was in cold weather. But from the quarterly earnings of listed companies, the performance was It is not bleak, and there is even no shortage of highlights.
For example: In the high base, the growth rate slowed down, and the owner of electrical appliances returning to the rational channel, the 20.05% net profit growth rate is still faster than the 16.89% revenue growth rate, highlighting the better profitability; For example: continue to force the high-end Vantage's net profit in the first quarter achieved a high growth rate of nearly 50%, confirming its strategic transformation of 'high-end smart kitchen appliances'.
On April 27, Vantage Co., Ltd. released its financial report for the first quarter of 2018, showing that the company achieved operating income of 1.424 billion yuan, an increase of 23.23% year-on-year; net profit attributable to shareholders of listed companies was 115 million yuan, an increase of 49.59% year-on-year.
The report clearly pointed out that under the high-end, intelligent and strategic transformation, the brand effect of the company has become increasingly prominent, the product structure has been adjusted, and the company's gross profit margin and net profit margin have steadily increased due to the continuous increase in channel assets and management efficiency. Therefore, the company expects 2018 From January to June this year, the net profit of listed company shareholders will vary by 30%-50%, and will still achieve better growth.
It can be seen that both the boss and Vantage have accurately targeted this trend in the high-end industry, and only withstand the downside pressure of the industry. Indeed, with the rise of the new middle class, the young consumer chiefs are on the stage, the basics of consumption. The face has changed from 'from scratch' to 'from good to good'. The demand for high-quality products is further expanding, bringing a new dawn to the depressed industries.
However, this profitable highland is not accessible to every company. First, from the perspective of brand heritage to technology accumulation, from marketing level to after-sales service, the comprehensive strength of the enterprise is a full range of challenges and challenges. At the same time, it is still For a protracted war, long-term investment is needed, and sufficient funds are needed to back it up. The pressure is self-evident.
Vantage is a staunch transformation of the high-end physical force. From drastic transformation of the production line, plus intelligent upgrading, to marketing innovation, brand momentum, advancing with the times, every big investment Vantage is to the high end of the powerful Footnotes. There are homes, eventually gain. The lucrative profits of a quarterly report are the greatest affirmations of their gorgeous transformation.
During the reporting period, Vantage's gross profit margin reached 45.36%, a year-on-year increase of 4.56 percentage points, which was the highest in the same period of previous years. The net interest rate was 8.31%, an increase of 1.31 percentage points over the same period of last year. The profitability trend was positive, indicating that the company’s product structure optimization and upgrade effect was obvious. , The logic of comprehensive promotion of brand power has been continuously verified. According to Zhong Yikang's statistics, the average price of Vantage of 2017 was 3385 yuan, an increase of 15.7% year-on-year; the average price of stoves was 1,683 yuan, an increase of 12.3% year-on-year, and the increase was at the forefront of the industry.
In addition, Vantage's interim sales expense ratio increased 1.63% year-on-year, indicating that the company is continuing to increase investment in brands and channels to build medium and long-term growth momentum. Other current liabilities during the period was 820 million, an increase of 30% over the same period of last year. , Shows that the company has enough capital reserves to complete the follow-up upgrade plan. It can be foreseen that the business strategy is clear, and the operator's motivated Vantage, after sitting firmly in the high-end kitchen power brand seat, the high performance growth is still worth the wait.
