On the evening of April 27, Skyworth Group released the first quarter report of 2022, achieving a turnover of 10.89 billion yuan. Among them, the turnover of the Chinese mainland market was 7.361 billion, an increase of 17.8% over last year.
After the release of the first quarterly report, skyworth group stock price rose for two consecutive trading days, an increase of 9.4%.
New energy business soared 878.1%
During the reporting period, Skyworth's new energy business revenue was 1.516 billion yuan, a sharp increase of 8.8 times year-on-year, the most eye-catching performance.
The proportion of its new energy business in the turnover of the Chinese mainland market has increased significantly from 2.5% to 20.6%, and the proportion of the group's total revenue has increased to about 14%.
Behind the sharp increase in performance, Skyworth Group chose distributed photovoltaics as a breakthrough.
At present, the distributed photovoltaic market is in the ascendant and is in a period of rapid rise, the market pattern is not stable, and everyone is running a staking ground. Tianfeng Securities believes that Skyworth Group, which has experience in the expansion of low-voltage electrical appliances and home appliance channels, can take advantage of this advantage to grow rapidly.
In 2021, Skyworth Group has cooperated with more than 60,000 household photovoltaic power plants. In more than 10 provinces such as Shandong, Hebei, Henan, Liaoning and Fujian, Skyworth has set up provincial-level operation centers to establish a complete warehousing and logistics system.
In the first quarter of this year, skyworth's total installed scale of distributed photovoltaic power plants still maintained its leading position in the industry, and more than 20,000 new household users who had been connected to the grid for power generation were added.
There are long-term tracking of the photovoltaic industry industry insiders believe that centralized power stations can quickly enter the market through bidding and low prices, but the distributed market is different, more recognized brand, and it is difficult for latecomers to overtake in curves.
In the future competition in the residential market, once the market share is solidified, it can get a premium in the valuation.
Multimedia businesses remain resilient
At the same time as the outbreak of new energy business, Skyworth's traditional advantages and multimedia business have also maintained a certain degree of resilience. During the reporting period, its multimedia business achieved a turnover of 5.184 billion yuan.
In the first quarter of 2022, China's color TV industry can be described as a difficult start. According to the forecast data of Aowei Cloud Network, the scale of omni-channel retail sales was 8.831 million units, down 10.8% year-on-year; the scale of retail sales was 27.7 billion yuan, down 11.0% year-on-year.
Despite the sluggish performance of the industry, the high-end market bucked the trend. According to Aowei Cloud Network (AVC) monitoring data, in the 1-13 weeks of 2022, the retail volume share of MiniLED, laser, OLED and 8K products in China's color wire market increased by 0.7%, 0.3%, 1.0% and 0.2% respectively over the same period last year.
From 2013 to 2021, Skyworth released nearly 40 OLED TVs of 16 generations, firmly occupying the leading position in the high-end TV market.
At the spring 2022 new tasting meeting, Skyworth's three products all have the performance of "full channel 120Hz high brush", once again refreshing the industry ceiling.
Among them, the Q53 series, 99% of the ultra-high screen accounted for the boundless full screen, thin to 35mm ultra-thin fuselage seamlessly attached to the wall; G53 equipped with "smart eyes", can provide long and young care, intelligent early warning, entertainment interaction and other diversified intelligent services; A33, e-sports level picture quality master, so that the high-speed sports screen is smoother, fully meet the needs of host games, cloud games and other large-screen games.
Skyworth's cool open system has also gained good growth. During the reporting period, the Internet value-added service revenue of Kukai System was 370 million yuan. As of March 31, 2022, The Kukai system has covered more than 128 million smart terminals in the Chinese market.
Smart appliances continue to exert their strength
During the reporting period, Skyworth's intelligent electrical appliance business achieved a turnover of 991 million yuan, an increase of 3.1% year-on-year.
In the first quarter of this year, the domestic home appliance market faced the challenge of both online and offline retail sales falling, and the capricious epidemic suppressed investment and consumption.
In such a context, Skyworth Electrical Appliances not only did not bottom out with the industry wave, but went against the trend, mainly to seize the biggest opportunity in the market, high-end. Aowei Cloud Network predicts that in 2022, the retail sales of high-end white electricity will reach 46.1 billion yuan, an increase of 18.5% year-on-year.
As a dark horse in the field of white electricity, although Skyworth entered late, it has obvious latecomer advantages, with strong research and development strength and productivity, standing on the shoulders of giants of rapid development, the latest listed Skyworth global net taste refrigerator and Skyworth dual-wheel drive sub-cabin washing machine became a hit, well received by consumers.
Skyworth Electric Appliances not only has a complete R&D system such as Pioneer Technology Research Institute, Skyworth Electric Research Institute, Forward-looking Technology Research Institute, Joint Development Laboratory of Universities and Ice Washing Technology Center, but also has a professional R&D team of more than 190 people, of which the core technical backbone has more than 10 years of experience.
In terms of productivity, Skyworth has two refrigerator factories, 7 production lines, with an annual production capacity of 3 million refrigerators and 500,000 refrigerators; 2 drum production lines and 1 wave wheel production line with an annual production capacity of 3 million units; 6 air-conditioning production lines and 2 automobile air-conditioning production lines with an annual output of 3 million units.
At the beginning of this year, Skyworth Electric Appliances handed over A shares and planned to raise 819 million yuan for the expansion of white electricity products, the construction of research and development centers and the construction of marketing networks, which will also provide support for Skyworth Appliances to continue to expand steadily in the field of intelligent electrical appliances in the future.
Nowadays, Skyworth Group has formed a dual-core development situation of the main black electricity in the Pearl River Delta and the main white electricity in the Yangtze River Delta.
As the board of directors of Skyworth Group said, 2022 is Skyworth's "accelerated transformation and development year", in addition to the outbreak of new energy business and the diversification of home appliance business, Skyworth Group is also constantly exploring VR and other fields as the entrance to the meta-universe.
Seeking development and improving business strength in the continuous cross-border is an important factor for Skyworth to be able to break out of the siege under the challenges of many external environments.
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Author 丨Jian Xiaobian
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