Still remember at the beginning of 2018, consume the black swan with the largest trade?
Suddenly turn hostile of outstanding achievement of electric equipment of boss of bibcock of hutch report white horse, net profit grows compared to the same period from 2017 first quarter 54% 20% what glide to be spent to the four seasons all the way!
Share price also falls continuously immediately, successive two drop stop, market prise evaporates about a hundred 100 million, trample the sound of sad wail everywhere.
However, the suddenly turn hostile of outstanding achievement however a bit is not affected " proprietress " leek is reaped in capital market.
The four seasons was spent 2017, shen Guoying of Ren Jianhua of president of boss electric equipment's spouse trades through contest price, decrease hold share to be 1.8 million, according to decrease hold all valence is calculated 49.2 yuan, cover cash specified amount to amount to 88.56 million yuan, essence of life runs definitely road.
This one plan runs carefully plan is medium, tall valve of company of boss electric equipment and accumulative total of tall canal relative are decreased hold amount to be as high as 200 million yuan, must plaint the proprietress runs of road technology excellent.
When old Bai Malong the head declines altar when, bend the China emperor share of house second to wait for the day that will come forward however all the time, concealed has like that " those can replace " impetus.
1
Mention home appliance, the first reaction of major person may be beautiful, division force, Hai Ersan's tycoon.
But actually, the permeability of traditional everybody report sees a top already, the point of growth with main tomorrow attributes small home appliance.
Especially in last few years, 34 lines city mixes inland a rural area, just begin to enter the hutch report product such as machine of oil absorption cigarette, compositive kitchen popularize level, can saying is market of our country home appliance last cheese.
According to the data inside course of study, 2014-2016 year, dimensions of market of cable of our country hutch year all add fast more than 10% , achieved 96.8 billion yuan 2017, grow 14.8% compared to the same period.
This number is apparent the growth level of market of home appliance of prep above whole, foreground is very inviting.
Although the growing sex of hutch cable market wants prep above big home appliance, but sales volume dimensions is far still however under white report.
According to the data of national statistic bureau, sale in domestic market of machine of oil absorption cigarette measured 22.83 million 2016, and the sales volume of the corresponding period of air conditioning 60.49 million, freezer and washing machine also achieve 47.63 million to mix 41.28 million respectively.
Press a truth for, freezer, washing machine and the consumptive attribute that suck lampblack machine are very similar, contemporary family should have every.
But the permeability of instantly still has very large promotion space apparently, especially a rural area.
2016, machine of cigarette of every 100 oil absorption of our country country retains the quantity is 18 only, far under freezer every 100 retain measure 90.
This is the place of future that invests an opportunity.
The town of category of each home appliance retains quantity (stage / 100)
The country of category of each home appliance retains quantity (stage / 100)
2
Next we talk about China emperor this chiliad second.
China emperor established Yu Andong to visit Zhongshan town 1992, rely on to light build up of gas cooking stove, cut field of machine of oil absorption cigarette later, in cigarette machine domain enter the evening on the opportunity one pace, one pace is accordingly slow, step by step slow.
On the other hand, with boss, square too wait for Jiang Zhe hutch phone company is different, they more devote oneself to to take high-end brand course, hold the market of tall wool interest rate.
And China emperor, initial stage takes the low price that carry a gender to compare line make one's fortune.
The administrative layer of China emperor people learn to Chairman Mao, walk along a country to surround urban road, base oneself upon is mixed at 34 lines city broad rural market, the baked wheaten cake star alls over earth of a poetic name of China.
Before some year, in the 34 lines city of countrywide each district, vast even a rural area, everywhere sees China emperor share whitewash the wall advertisement.
Although whitewash the wall,advertisement resembles urban psoriasis, have bit of LOW, but the transmission result that a bit does not affect it, then China emperor is climbed all the way in the portion of market of villages and towns litre.
While advertisement reachs the designated position, door inn channel also must catch up with.
Public data shows, 2012-2017 year, the brand shop of China emperor and KA sell amount of field door inn to maintain the dimensions left and right sides in 2000 all the time;
And across, increase to quickly from 1771 in the door inn number of site of villages and towns many 5600, what light what is heavy, be clear at a glance.
This is the mystery place of overtake of Hua Diwan path.
Had analysed before us, core market of the boss is city of line of just a little, china emperor adopts poor dissimilation strategy, occupational is the 34 lines city of low end.
And hutch cable market, the permeability of city of line of just a little is already opposite and saturated, current point of growth basically is in 34 lines city.
Still retain today's top headlines, quick worker, go all out great rise abruptly in the collective 2017 story?
Main big setting, the city that is population of 34 lines, 56 lines villages and towns is changed, the city that this is last population of our country converts extra dividend, who was captured, who can show itself.
This is not place of a lot of media to advertise " consumption demotes " , however the consumption of the most rock-bottom population upgrades.
And China emperor, captured apparently.
3
Interesting is, although decide the market of 34 lines villages and towns that is located in low end, the product wool interest rate of China emperor is to be climbed successively however in last few years rise.
2012 when, have 33% only, to 2017 when, had risen 44% .
5 years, rose actually 10 percent, want to know, this can be the home appliance industry that competes adequately in, can maintain wool interest rate not to fall quite god-given.
Common saying says, the person compares a person, gas the dead.
Do not have harm without contrast, see China emperor again wool interest rate of the competitor, with respect to the government that knows China emperor the layer has much ox.
Electric equipment of industry first boss, although quite long period of time maintains,gross profit is led in 50% above, but after reaching peak peak 2015, fill after all extremely and decline, after this glides two years continuously.
In going all the time low end of the course 10 thousand and electric as happy as 10 thousand, also be sneaking, at present gross profit is led already under 30% .
In 4 old brands, can maintain ascendant momentum, only China emperor.
The wool interest rate of China emperor can go against situation promotion, main profit from mode of alliance of its strategy supplier.
2012, china emperor bought another rival inside the industry 100, sales volume dimensions is able to increase greatly, the price advantageous position that faces a supplier is stronger also.
Began 2015, huadi and 100 start strategic supplier jointly reform, through adjusting, fall into disuse, integrated supplier resource, the opinion of group strategy supplier that formed a comprehensive, complete, science runs a system.
After this system is built, 2016, the operating costs of professional work of engine of oil absorption cigarette is added fast for 20.21% , remarkable under business income of 26.4% add fast, promotion of wool interest rate is made an appointment with 3% ;
The corresponding period, business income of increasing ratio of operating costs of water heater business is added fast low 11% , wool interest rate rose 5% .
Have so superior cost competition ability, can help naturally China for low in answer end the competition of the market, with price of upriver raw material rise the do a job with skill and ease in the situation.
But You Jian enters excessive easy, it is difficult to enter frugal by excessive.
Across compartment, price of the supply side reform 2017, raw material rises, invite the harm that boss electric equipment got 10 thousand a little bit.
2017, the operating costs of boss electric equipment compared to the same period increasing ratio business income adds fast tower above nearly 6% , rose of cost to gobble up profit badly quickly, gross profit leads natural altitude deeply cold.
Of course, boss all the time since market of adherence high end, thin dead camel compares Martha, again how does wool interest rate glide to also want than China emperor tall.
But as investor, what our more looks is a trend.
Apparent, as a result of the permeability of the market promotion basically is in market of villages and towns, the battalion of China emperor receives dimensions to add fast will be more than a boss.
2018 first quarter data, hua Dizeng fast for 23% , the boss is 16% , former and apparent fast at latter.
That is to say, what run as the dimensions of China emperor is faster, apparently ambitious to the price ability of the supplier at the boss, so the promotion field that future leads in gross profit should have larger space.
In fact, arrive from 2015 2017, difference of both wool interest rate already from 20% narrow 12% .
Will not whether can be surmounted, our wait and see what happens.
4
Since estate market glided 2015 after get warm again after a cold spell, the can of outstanding achievement expression of China emperor says outstanding.
It is a place with a draught that stepping on promotion of hutch report permeability on one hand, battalion restrains the rapid growth that maintaining 20% above;
It is to fall on the other hand this synergism, gross profit leads promotion, drive net profit to add fast be as high as 50% to control, it is Bai Ma simply the bare hare BMW in.
Bare hare BMW can not be informal those who say oh, because Hua Dihe is other white horse different really.
In the times that frequency of this debt risk sends nowadays, investment should take care really, the eye sees very much Bai Ma the enterprise although battalion closes and upgrade of loiter of net figure loiter goes up, but how many having again is to sustain losses in business earn cry out, be Zhang face game merely?
Say thoroughly hard, and once you are carried not clear, have to step on thunder.
After all in the pocket that money did not reach an industry, the client's money is being owed, the cash flow net specified number that causes management activity generation is all the time negative.
In case which days of client appeared accident, the money that owe cannot close likely.
Say so, hold the cash in enterprise pocket, just be all wool and a yard wide profit.
And China emperor, the performance of this respect is excellent all the time, the cash flow that calendar year management activity generates never under 250 million, 2016 is to be as high as 800 million yuan more.
This is meant, the money that China emperor earns is honest true gold silver.
Profitable ability is top-ranking, china emperor nature cannot loosen high quality to his pursuit.
Begin from 2011, investment occupies the research and development of China emperor to rise than beginning to be climbed considerably, from hundred inchoate, promotion arrived 3% the left and right sides.
Do not look to have 3% only, the number is very ordinary, after all this is industry of a traditional home appliance, the research and development inside course of study is devoted and pervasive not tall, compared with oneself, had been very great progress.
2017, charge of China emperor research and development 180 million yuan, patent application amount grows 108% compared to the same period, the promotion of product strength is quite apparent.
On business field, make land easy and it is difficult to defend country the law that is eternity, want to let manage a group to maintain enthusiasm, equity drive is indispensable.
In July 2017, china emperor with not under 12.99 yuan / the price issued 180 million yuan to tall canal and agency increase a plan surely, china emperor share makes an appointment with aggregate hold 13.8 million.
Review this to increase a plan surely, true it may be said of the conscience of China emperor boss make.
End on June 8, 2018, china emperor share price is controlled 30 yuan, cursory consideration, be in charge of those who reach agency group high to hold an accrual to had been as high as 230% .
This sends bright red package undisguisedly namely simply ah...
