Recently, many companies announced their performance expectations for the first half of the year, of which only Gree has grown against the trend. On Monday evening, Gree Electric Appliances Co., Ltd. announced that in the first half of the year, total operating revenue was 48.303 billion yuan, up 20.04% year-on-year, and net profit attributable to shareholders of listed companies was 2.872 billion yuan, an increase of 30.08% year-on-year, and basic earnings per share was 0.9547 yuan. The year-on-year increase of 30.08%.
Midea expects the net profit for listed companies in the first half of the year to be 1.975 billion to 2.272 billion yuan, an increase of 0 to 15% from the previous year. Shenzhen Konka A expects to have a net profit of 10 million to 15 million yuan in the first half of the year, which is a turnaround from the same period of last year. Thanks to product restructuring and export promotion, Hisense Group's profit for the first half of the year increased by 12.8% year-on-year.
The data shows that the prospects for the home appliance industry are not optimistic. Luo Qingqi, a senior commentator for China’s home appliance industry, pointed out that the home appliance industry has experienced the most dismal first half of the year. In the first quarter, the growth rate was sluggish due to the withdrawal of stimulus policies and economic downturn. The author believes that the first half of the GDP in the first half of the year indicates that the downward pressure on the overall economy will increase. The original troika—investment, exports, and consumption—had the largest decline in exports. With the recently announced GDP growth rate, the growth rate in the central and western regions ranks among the top in the country. The growth rates of the most economically developed regions in the country, such as Beijing, Guangdong and Zhejiang, have not yet broken 8.
The growth of GDP in the central and western provinces mainly depends on investment, which is mainly concentrated in infrastructure projects and energy and chemical projects. The revival of the home appliance industry is closely related to the overall economic trend. If you only analyze domestic performance, the home appliance industry wants to stop the trend without the support of various investments.
Among these, real estate is a crucial link. The author thinks that the rising trend of house prices in the first- and second-tier cities in China has weakened, and the transaction rate of buildings will not increase substantially, even with a slight decline. Coupled with the summer rain in the south, the first impact was air-conditioning sales. In the process of urbanization, the population of the first-tier cities in China is approaching saturation. With the change of concepts, many college students just out of school are no longer seeking to work in big cities.
Therefore, I believe that relying solely on domestic first- and second-tier cities appliance market is difficult to play a key role in the recovery of the industry. In contrast, domestic cities in the third and fourth tier cities, especially in the central and western cities, have a huge market space, which may become the key fulcrum for the revival of the household appliance industry. For this point of view, the following reasons are known to the author:
First, the third and fourth-tier cities are still in the high-speed period of economic growth. The economic structure is less mature than that of developed cities, and it is still in the process of development from singleness to diversification. The focus of growth mainly depends on investment, such as education, medical care, and road traffic. This has a huge demand for human resources, and has objectively driven the development of all walks of life. Secondly, the development of real estate in the central and western regions is still huge. The main force of urbanization in China is in small and medium-sized cities. When a country reaches the latter stage of industrialization, the urban population will account for about 80% of the total population. Now China has not yet reached such a level. The surplus rural labor force is pouring into every corner of the city, and the potential is huge from the perspective of housing and household appliances. .
From the macro perspective, the adjustment and control efforts in the second half of the year will increase. It is still unpredictable whether exports can rebound, but the economic growth rate of the eastern and coastal cities will inevitably rebound. The demand will not remain indifferent after the property market squeezes the bubble. Although the overall situation is not It is difficult to estimate exactly, but if companies grasp the market demand of the third and fourth-tier cities and small and medium-sized cities, the road to recovery will not go too long.
Midea expects the net profit for listed companies in the first half of the year to be 1.975 billion to 2.272 billion yuan, an increase of 0 to 15% from the previous year. Shenzhen Konka A expects to have a net profit of 10 million to 15 million yuan in the first half of the year, which is a turnaround from the same period of last year. Thanks to product restructuring and export promotion, Hisense Group's profit for the first half of the year increased by 12.8% year-on-year.
The data shows that the prospects for the home appliance industry are not optimistic. Luo Qingqi, a senior commentator for China’s home appliance industry, pointed out that the home appliance industry has experienced the most dismal first half of the year. In the first quarter, the growth rate was sluggish due to the withdrawal of stimulus policies and economic downturn. The author believes that the first half of the GDP in the first half of the year indicates that the downward pressure on the overall economy will increase. The original troika—investment, exports, and consumption—had the largest decline in exports. With the recently announced GDP growth rate, the growth rate in the central and western regions ranks among the top in the country. The growth rates of the most economically developed regions in the country, such as Beijing, Guangdong and Zhejiang, have not yet broken 8.
The growth of GDP in the central and western provinces mainly depends on investment, which is mainly concentrated in infrastructure projects and energy and chemical projects. The revival of the home appliance industry is closely related to the overall economic trend. If you only analyze domestic performance, the home appliance industry wants to stop the trend without the support of various investments.
Among these, real estate is a crucial link. The author thinks that the rising trend of house prices in the first- and second-tier cities in China has weakened, and the transaction rate of buildings will not increase substantially, even with a slight decline. Coupled with the summer rain in the south, the first impact was air-conditioning sales. In the process of urbanization, the population of the first-tier cities in China is approaching saturation. With the change of concepts, many college students just out of school are no longer seeking to work in big cities.
Therefore, I believe that relying solely on domestic first- and second-tier cities appliance market is difficult to play a key role in the recovery of the industry. In contrast, domestic cities in the third and fourth tier cities, especially in the central and western cities, have a huge market space, which may become the key fulcrum for the revival of the household appliance industry. For this point of view, the following reasons are known to the author:
First, the third and fourth-tier cities are still in the high-speed period of economic growth. The economic structure is less mature than that of developed cities, and it is still in the process of development from singleness to diversification. The focus of growth mainly depends on investment, such as education, medical care, and road traffic. This has a huge demand for human resources, and has objectively driven the development of all walks of life. Secondly, the development of real estate in the central and western regions is still huge. The main force of urbanization in China is in small and medium-sized cities. When a country reaches the latter stage of industrialization, the urban population will account for about 80% of the total population. Now China has not yet reached such a level. The surplus rural labor force is pouring into every corner of the city, and the potential is huge from the perspective of housing and household appliances. .
From the macro perspective, the adjustment and control efforts in the second half of the year will increase. It is still unpredictable whether exports can rebound, but the economic growth rate of the eastern and coastal cities will inevitably rebound. The demand will not remain indifferent after the property market squeezes the bubble. Although the overall situation is not It is difficult to estimate exactly, but if companies grasp the market demand of the third and fourth-tier cities and small and medium-sized cities, the road to recovery will not go too long.
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