In the first quarter of 2011, the performance of listed companies in the black power industry was excellent and the financial results were excellent. Although the Shanghai and Shenzhen stock indices have been falling for nearly 2 months, the performance of the company's stock has remained relatively stable. In June, many brokerage companies released research reports on the home appliance industry, and black power companies are also the focus of research reports. Will black power companies usher in their own spring? In today's diversified layout, how can black companies take the path of sustainable development?
Black power companies usher in spring?
In April, the black power companies began to publish their financial reports for the first quarter of 2011. According to the report, black-related listed companies performed better in the secondary market than in the broader market.
Hisense's financial report shows that in the first quarter, the company realized operating income of 4.994 billion yuan, a decrease of 4.5% year-on-year. The decrease in the company's operating income was mainly due to the slowdown in demand from the industry. At the same time, the company's gross profit margin reached 21.39% in the first quarter, a significant increase of 4.56% compared to the same period of last year. Under the condition of a year-on-year decrease in operating income and a year-on-year increase in sales expense ratio and management expense ratio, the gross profit margin has significantly increased, which is the main reason for improving the company’s profitability. the reason.
Sichuan Changhong quarterly quarterly report shows that the company achieved a net profit of 103 million yuan in the first quarter, an increase of 1734.12% year-on-year, and earnings per share of 0.0363 yuan.
Coincidentally, the TCL Group reported this quarter that the company achieved operating revenue of RMB 13.374 billion in the first quarter, an increase of 12.23% year-on-year. Net profit reached 223 million yuan, a substantial increase of 245.34% year-on-year.
At one point, black home appliance companies that had almost “falled†out of the market’s line of sight, after entering 2011, the performance of related listed companies in the secondary market was stronger than that of the broader market. Will black power companies usher in their own spring?
Brokers are optimistic about the industry's bad mood
At the same time as companies released their results, there are also securities companies that have begun to pay attention to the black industry.
Yuan Haoran, an analyst at GF Securities, believes that the overall profitability of the industry is worth looking forward to. The unfavorable factors of black power have basically been reflected in the stock price of the previous period; industry demand is still strong, because the industry demand is not too bad, can pay attention to the trading opportunities brought by the phased demand exceeds expectations, the person thinks that the long-term view, consumption The upgrade trend allows investors to enjoy the industry. Among listed companies, GF Securities is more optimistic about Hisense Electric and the TCL Group, and gives them a target price of 21.6 yuan and 5.75 yuan.
Regarding the above views, people in the industry are mixed, but there are more negative opinions.
Liu Buchen, a senior observer of home appliances, said that there is no investment in the domestic black power companies. He believes that generally speaking whether an industry is improving, whether or not new technologies and new products are introduced at first glance, and secondly whether major changes have taken place in national policies and market conditions. At present, the black industry does not have these two aspects. For some companies in the first quarter of the pre-growth of business, he believes that this is the use of high-end sales of the company to do a good job of data, and later the growth rate may slow down.
Luo Qingqi, a research expert in the home appliance industry and a senior director of Pa Consulting, believes that the blacklisted product industry chain is too long, the life cycle is short, the replacement is fast, the pressure on the company's inventory is large, and the key components and technologies in the upper reaches of the industrial chain such as the panel are in the hands of foreign investors. The rising pressure will affect the profitability.
In our impression, color TV companies have always been in the home appliance market, and they are taking a high profile. However, in the white electricity field, only air conditioners can impact the public's attention during the peak season of the year. However, many black giants have broken through the industry "siege" and turned to white areas. As we all know, these companies have played an important role in the domestic color TV industry. It's simple - profits, black profits are not as white as electricity. In today's diversified layout, how do TV companies take the path of sustainable development?
Black Power seeks transformation and needs innovation
The forms faced by black power companies are so severe that it is imperative to seek a transition.
Recently, Skyworth Digital has increased Chigo Air Conditioning's 24 million shares and its total shareholding has increased to 425 million shares, accounting for 5.06% of the total shares. Skyworth Group's purchase of Chigo air-conditioned stocks is easy to imagine. Previously, TCL, Hisense, and Changhong joined hands to establish a smart terminal technology alliance to cope with competition from foreign companies such as Apple, Google and Samsung in smart TVs and smart phones.
Zhou Houjian, chairman of Hisense Group, announced in a high-profile announcement in Beijing: “The failure of Hisense 3C integration has led to a comprehensive transformation and intelligence, and promoted Hisense’s system-wide intelligence in multimedia, communications, home appliances, intelligent transportation, and real estate.â€
In addition to TCL's alliance with Hisense and Changhong, Smart Terminal and its related content application business, the environmental protection industry, channel distribution, etc. have gradually become bright spots.
The adjustment of the industrial structure to the national small enterprise has become the same research topic in different stages. Innovation is the driving force for the development of the enterprise. The adjustment of the industrial structure is part of innovation. Experts Lu Jiebo pointed out that in the face of the current situation in which black power has entered the field of white power, enterprises cannot blindly conduct industrial layout. While stabilizing the status of color TVs through innovative methods such as technology, white power is also developed; at the same time, accurate knowledge of emerging products When entering the market, we should make good advances, give priority to product price initiative, expand sales volume, increase profits, and take a sustainable development path. In any case, we all hope that black power companies will find their own development path and develop under tremendous pressure.
Black power companies usher in spring?
In April, the black power companies began to publish their financial reports for the first quarter of 2011. According to the report, black-related listed companies performed better in the secondary market than in the broader market.
Hisense's financial report shows that in the first quarter, the company realized operating income of 4.994 billion yuan, a decrease of 4.5% year-on-year. The decrease in the company's operating income was mainly due to the slowdown in demand from the industry. At the same time, the company's gross profit margin reached 21.39% in the first quarter, a significant increase of 4.56% compared to the same period of last year. Under the condition of a year-on-year decrease in operating income and a year-on-year increase in sales expense ratio and management expense ratio, the gross profit margin has significantly increased, which is the main reason for improving the company’s profitability. the reason.
Sichuan Changhong quarterly quarterly report shows that the company achieved a net profit of 103 million yuan in the first quarter, an increase of 1734.12% year-on-year, and earnings per share of 0.0363 yuan.
Coincidentally, the TCL Group reported this quarter that the company achieved operating revenue of RMB 13.374 billion in the first quarter, an increase of 12.23% year-on-year. Net profit reached 223 million yuan, a substantial increase of 245.34% year-on-year.
At one point, black home appliance companies that had almost “falled†out of the market’s line of sight, after entering 2011, the performance of related listed companies in the secondary market was stronger than that of the broader market. Will black power companies usher in their own spring?
Brokers are optimistic about the industry's bad mood
At the same time as companies released their results, there are also securities companies that have begun to pay attention to the black industry.
Yuan Haoran, an analyst at GF Securities, believes that the overall profitability of the industry is worth looking forward to. The unfavorable factors of black power have basically been reflected in the stock price of the previous period; industry demand is still strong, because the industry demand is not too bad, can pay attention to the trading opportunities brought by the phased demand exceeds expectations, the person thinks that the long-term view, consumption The upgrade trend allows investors to enjoy the industry. Among listed companies, GF Securities is more optimistic about Hisense Electric and the TCL Group, and gives them a target price of 21.6 yuan and 5.75 yuan.
Regarding the above views, people in the industry are mixed, but there are more negative opinions.
Liu Buchen, a senior observer of home appliances, said that there is no investment in the domestic black power companies. He believes that generally speaking whether an industry is improving, whether or not new technologies and new products are introduced at first glance, and secondly whether major changes have taken place in national policies and market conditions. At present, the black industry does not have these two aspects. For some companies in the first quarter of the pre-growth of business, he believes that this is the use of high-end sales of the company to do a good job of data, and later the growth rate may slow down.
Luo Qingqi, a research expert in the home appliance industry and a senior director of Pa Consulting, believes that the blacklisted product industry chain is too long, the life cycle is short, the replacement is fast, the pressure on the company's inventory is large, and the key components and technologies in the upper reaches of the industrial chain such as the panel are in the hands of foreign investors. The rising pressure will affect the profitability.
In our impression, color TV companies have always been in the home appliance market, and they are taking a high profile. However, in the white electricity field, only air conditioners can impact the public's attention during the peak season of the year. However, many black giants have broken through the industry "siege" and turned to white areas. As we all know, these companies have played an important role in the domestic color TV industry. It's simple - profits, black profits are not as white as electricity. In today's diversified layout, how do TV companies take the path of sustainable development?
Black Power seeks transformation and needs innovation
The forms faced by black power companies are so severe that it is imperative to seek a transition.
Recently, Skyworth Digital has increased Chigo Air Conditioning's 24 million shares and its total shareholding has increased to 425 million shares, accounting for 5.06% of the total shares. Skyworth Group's purchase of Chigo air-conditioned stocks is easy to imagine. Previously, TCL, Hisense, and Changhong joined hands to establish a smart terminal technology alliance to cope with competition from foreign companies such as Apple, Google and Samsung in smart TVs and smart phones.
Zhou Houjian, chairman of Hisense Group, announced in a high-profile announcement in Beijing: “The failure of Hisense 3C integration has led to a comprehensive transformation and intelligence, and promoted Hisense’s system-wide intelligence in multimedia, communications, home appliances, intelligent transportation, and real estate.â€
In addition to TCL's alliance with Hisense and Changhong, Smart Terminal and its related content application business, the environmental protection industry, channel distribution, etc. have gradually become bright spots.
The adjustment of the industrial structure to the national small enterprise has become the same research topic in different stages. Innovation is the driving force for the development of the enterprise. The adjustment of the industrial structure is part of innovation. Experts Lu Jiebo pointed out that in the face of the current situation in which black power has entered the field of white power, enterprises cannot blindly conduct industrial layout. While stabilizing the status of color TVs through innovative methods such as technology, white power is also developed; at the same time, accurate knowledge of emerging products When entering the market, we should make good advances, give priority to product price initiative, expand sales volume, increase profits, and take a sustainable development path. In any case, we all hope that black power companies will find their own development path and develop under tremendous pressure.
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