Refrigerator performance growth companies adhere to internal strength

According to relevant data, in the third quarter of 2012, Meiling Electric made a net profit of RMB 40,197,500 in July-September, a year-on-year increase of 727.28%, and achieved revenue of RMB 2.238 billion, a year-on-year increase of 13.72%; meanwhile, Meiling achieved net profit in the first three quarters of the year. The profit was RMB 115 million, a year-on-year increase of 15.29%, and the basic earnings per share was RMB 0.20, down 3.93% year-on-year.

Regarding the reasons for the increase in performance, Tang Yiliang, director of Meiling North Region, said in an interview with China National Grid that “The company’s Athena refrigerator capacity expansion, high-end refrigerator capacity, and energy saving subsidy policies are favorable factors for the growth of the retail sales”.

Meiling’s performance in the third quarter also indicated that the energy-saving subsidies in the third quarter showed initial effects on the product structure and market pull effect of the refrigerator industry. According to the monitoring data of the Yikang 1st and 2nd-level cities' retail markets, since the implementation of the energy-saving Huimin subsidy in June, 41% of the national day market, the sales of refrigerator energy-saving Huimin’s successful model has increased from 11% to 42%. The market share of energy-saving refrigerators has further expanded.

“The only driving factor that can drive the urban refrigerator market is the subsidy for energy-saving benefits,” said Xiao Chunjie, marketing manager of the Beijing Baidian branch of Konka Group, to China National Grid. In fact, in addition to a further increase in the proportion of sales of energy-saving refrigerators, the market for three or four refrigerators has also experienced temporary growth due to the expiry of home appliances to the countryside.

The August data of the industry online monitoring showed that in August 2012, total refrigerator production and total sales were 7.272 million units and 7.295 million units respectively, of which production increased by 5.6% compared to the same period of last year and sales volume increased by 9.3% year-on-year. In August, the production and sales of refrigerators finally returned to the peak season in previous years, marking the first time in March since the consecutive year-on-year decline.

The growth of domestic sales in August has played a decisive role. The increase in domestic sales is mainly due to the policy pull. On the one hand, compared with the previous two months, the effectiveness of the energy-saving and subsidy policy has significantly improved, and the retail sales volume of refrigerator-winning models has increased significantly. . On the other hand, the performance of home appliances to the countryside is outstanding, and its accelerating growth should be related to the expiration of the policy at the end of the year. Distributors increase the main thrust of home appliances to the countryside in order to digest inventory. The Ministry of Commerce announced that sales of household appliances to the countryside in August reached 7.09 million units, achieving sales of 19.3 billion yuan, a year-on-year increase of 52.4% and 58.3% respectively. From January to August 2012, the sales volume and sales of household appliances to the countryside increased by 11.8% and 21.8% respectively year-on-year.

Meiling's production and sales performance in the third quarter is better than the industry, Tang Yiliang said, "The company's refrigerator production and sales balance, a reasonable decline in inventory." Tang Yiliang told China National Grid that the refrigerator market has not bottomed out so far this year. This year, Meiling will have a growing trend, especially in the 3rd and 4th grade cities.

However, Xiao Chunjie believes that as the market becomes more and more saturated, the overall cake market will no longer grow bigger. For all refrigerator companies, what they can do is to maintain their own share and not lose the product. , good service, insist on internal strength.