Appliance industry to the stock of the rapid growth of profits has been completed - air-conditioning

Appliance industry to the stock of the rapid growth of profits has been completed - air-conditioning

Congenial care prior to release August 9

Home Appliances Industry management data analysis, said the rapid growth of profits to stock-based has been completed.

Recently released the 2009 National Bureau of Statistics of industrial economic efficiency 1-8 months of data, which relate to the manufacture of household electrical appliances and audio-visual equipment manufacturing, and other household appliances industry-wide economic information, day care who share this information on appliances industry-wide from January to August to analyze the operating conditions, as follows:

1, January-August 2009, the rapid growth of profits to the household appliances industry, has completed the inventory of

2009 from January to August, China's household electrical appliance enterprises operating income totaled 670.422 billion yuan, down 1.1%; main business costs totaled 573.52 billion yuan, down 3%; profit totaled 24.49 billion yuan, an increase of 27.89%; finished products accumulated to 50.3 billion yuan, down 15.48%, during the total cost of 69.754 billion yuan, up by 4.51%.

From the above data shows that household electrical appliance enterprises in China by

Financial Impact of the crisis, still negative revenue growth, cost reduction main business revenue faster than the rate of decline of nearly 2 percentage points, which shows the overall gross margin of household electrical appliance enterprises in China are rising, corporate profitability is growing. That the main business day congenial care cost reduction is mainly due to household electrical appliances upstream raw materials (steel, aluminum, copper,

Plastic ) Than the price of a substantial decline in 2008, reducing purchasing costs of appliance. In addition, TX Irving also noted that from January to August 2009, the number of household electrical appliance enterprises inventory has decreased greatly, indicating that China's household electrical appliance enterprises to stock-based drawing to a close, in the fourth quarter of 2009, the output of home appliances expected to have improved.

2, from January to August 2009, the major breakdown product of operating conditions

1, Air conditioning : Decline in revenue, profit growth

2009 from January to August, China's domestic air-conditioner manufacturing company main business income of 152.295 billion yuan, down 9.64 percent; main business cost of 126.918 billion yuan, down 12.54%; profit amounted to 7.586 billion yuan, an increase of 29.41%. 70 loss-making enterprises more than last year, an increase of five over the same period, losses of loss-making enterprises amounted to 299 million yuan, up by less loss 220 million yuan. Finished products amounted to 13.078 billion yuan, down 24.45%;

Air conditioner manufacturers have increased the number of loss-making enterprises, but the total profits have grown rapidly, indicating that the sub-sector profitability is further concentrated to the leading enterprises. In addition, the amount of the sub-sector stocks to decline further over the previous year, also shows the inventory adjustment has been completed. Although the sub-sector continued to decline year over year operating income, but the gross margin on the rise (mainly due to raw material prices), indicating that the sub-sector profitability remains strong, suggesting investors look at the leading air conditioning companies: Gree Electric Appliance (000 651 , stock it), Midea (000,527, stock it).

2, Washing machine Refrigerator: profit growth greater than revenue growth

2009 from January to August, China's household electrical appliances with manufacturing sanitary main business income of 115.096 billion yuan, up 4.81%, main business cost of 95.329 billion yuan, up 2.42%, total profit of 16.35 billion yuan, up 118.29 percent; domestic refrigeration appliance manufacturers with the main business income was 33.259 billion yuan, up 4.92%; main business cost of 26.556 billion yuan, up 0.99%; profit amounted to 4.607 billion yuan, up growth of 42.99 percent.

A manufacturer of household electrical appliances clean loss of business volume was flat with last year, but the loss rate dropped significantly, indicating that the sub-sector losses in the profitability of enterprises gradually increased; other while the sub-sector revenue increased by only 4.92% over the previous year, However, the sub-sector than total profit more than doubled last year, which helps explain the industry's profitability is increasing rapidly, it is recommended investors to focus on the third quarter net profit increased more than 80% pre-Hefei

Sanyo

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