This week, the news of the reorganization of the beautiful Little Swan caused a high degree of concern in the manufacturing industry. Earlier, Midea Group issued an announcement stating that the company is planning an asset restructuring related to its holding subsidiary Little Swan. The company’s stock will be suspended, and Little Swan will also be on the same day. Disclosure of related announcements. Since September 10, the shares of the two listed companies have been suspended. The announcement has not disclosed the details of the restructuring. Before the suspension, the market value of Midea Group and Little Swan reached 267.065 billion and 29.411 billion respectively, totaling nearly 3000. 100 million yuan.
Little Swan has excellent performance
Little Swan A's semi-annual report shows that in the first half of this year, it achieved operating income of 12.057 billion yuan, up 14.09% year-on-year; net profit attributable to shareholders of the parent company was 902 million yuan, up 23.31% year-on-year; the company's overall gross profit margin was 26.60%, up 0.99 percentage points year-on-year. .
The growth of Little Swan's revenue in the first half of 2018 was mainly due to the increase in sales volume and product structure upgrade. The structural upgrades contributed to the increase in average price. Its high-end brand Beverly will continue to introduce large-scale products, 'One' series, etc. New products, there are many breakthroughs in product technology.
At present, Midea Group directly and indirectly holds a 53% stake in Little Swan, which is its controlling shareholder. In the past few years, in business, the two have maintained certain independence. Externally, Little Swan Company is also the washing machine division of Midea Group.
Midea will integrate its Rongshida and Little Swan in 2010. After the integration is completed, Midea Group's washing machine manufacturing business will focus on Little Swan, but the brand still retains the beautiful 'double brand' strategy with Little Swan.
Since the arrival of the United States, Little Swan has maintained a good development trend. In 2008, Little Swan's total operating income was 4.3 billion yuan, and net profit was 25.1 million yuan. In 2017, total operating income reached 21.4 billion yuan and profit was 1.7 billion yuan. At the beginning of the company's investment, Little Swan's revenue increased fourfold, and net profit increased by 67 times. According to the statistics of Aowei.com, Little Swan ranks second in Haier's market share in China's washing machine market.
The home appliance stock market began to 'shuffle'
In the past two years, Midea Group has adjusted the internal and external adjustments frequently.
Last year, Midea became a new business unit from the kitchen appliance division. In the first half of this year, Midea merged the three major product lines of the kitchen appliance division into the water heater division, and established the kitchen and hot water division. The original kitchen electric division was renamed the Microwave and Oven Division.
In June 2016, Midea's acquisition of Toshiba's white goods business, Toshiba's home appliance product line, covered the washing machine products. In June 2017, Midea acquired 80% of Clivet's shares. At that time, there was analysis that does not rule out the future of Clivet For the base to Europe, the possibility of other home appliance industry, such as air conditioners, refrigerators, washing machines and other home appliances.
Through internal adjustments and external mergers and acquisitions, Midea also promotes the business synergy and product line enrichment of each sector. In fact, Little Swan has a coincidence with other business lines of Midea Group, both in terms of products and brands. Washing machine business, and the water heater department of Little Swan's Beverly brand is also used.
Therefore, many sources believe that the restructuring will involve the re-engineering of brand use and washing machine business.
Some insiders pointed out that brand reorganization and integration such as the beautiful Little Swan may occur frequently in the future. At present, the popularity of home appliances in China has been very high, and large household appliances have taken the lead in the first and second markets to become a stock market. The transformation of the market from the incremental market to the stock market is expected to be completed within three years.
The reporter learned that the incremental market and the stock market are completely different. The incremental market is 'big cake', and the stock market is 'cutting cakes'; the incremental market is based on the first purchase, and the stock market is purchased for new purchases. In the incremental market era, every enterprise has meat, in the stock market era, some companies eat meat, some companies drink soup, and more companies are eliminated.
'In addition to kitchen appliances, most home appliances are increasingly difficult to achieve total breakthroughs. But rest assured, this does not mean that the dominant companies will lose the opportunity to develop. In the future, the dominant enterprises will continue to develop, it The increase is not from the big cake, but from the inferior enterprises to grab market share, we shouted for many years of 'shuffle', it is really coming. ' Household appliance industry analyst Liu Buchen analyzed the reporter.