On April 24, 2023, Zhejiang Yitian Intelligent Co., Ltd. (hereinafter referred to as "Yitian Intelligent") released its 2023 annual report.
According to the annual report, in 2023, Yitian Intelligent will achieve operating income of 1.227 billion yuan, a year-on-year decrease of 3.80%, net profit attributable to shareholders of listed companies of 179 million yuan, a year-on-year decrease of 14.64%, and net profit after deducting non-recurring gains and losses of about 165 million yuan, a year-on-year decrease of 6.00%.
As an industry with a high degree of relevance to real estate, the integrated stove industry will face huge challenges in 2023 and enter a stage of high-quality development. In this context, Yitian Intelligent has always adhered to the development mission of "building a healthy, open and intelligent integrated kitchen for hundreds of millions of families", examined the consumption upgrade needs of the times and the actual pain points of the kitchen with a higher-dimensional concept, dug deep into the diversified application of integrated technology and kitchen scenes, and realized the iterative upgrading of innovative technology of "smoke-free", "harmless" and "unmanned" kitchens.
During the reporting period, Yitian Intelligent was still able to maintain its core competitiveness in R&D and design, production and operation, and channel layout.
In terms of R&D, the company continues to attach importance to R&D, continues to introduce high-end talents, and increases R&D efforts. In 2023, the company's R&D investment will be about 63.95 million yuan, a year-on-year increase of 6.44%, and the proportion of R&D investment in operating income will be 5.21%. During the reporting period, the company continued to conduct in-depth research on the original R&D projects and continuously upgraded and iterated itself, so that the corresponding product performance was further improved. Based on "Yitian Integrated Technology", we will horizontally supplement product categories, vertically explore product depth, reach consumer pain points in multiple dimensions, and increase the company's ability to resist risks.
In terms of brand marketing, the company has comprehensively shaped the consumer perception of the integrated cooking center "Yitian kitchen appliances really have a set", and at the same time continuously increased the promotion of new categories of integrated cooking centers to continuously meet the consumer needs of the stock market. Adhere to the construction of online and offline integration, the combination of traditional media and new media, all-round, three-dimensional, multi-echelon publicity matrix, enhance the voice of Yitian brand, and continue to enhance brand influence.
In terms of production and operation, the company actively explores industrial transformation and upgrading. As the first pilot enterprise in the integrated cooker industry to be selected as the "Future Factory" in Zhejiang Province, during the reporting period, Yitian Intelligent formed a good industrial interconnection network between the upstream and downstream of the supply chain and industry enterprises, and openly shared the advanced production experience and software and hardware of the enterprise, forming a good industry demonstration effect. At the same time, the construction of smart factories has been continuously upgraded, and the full integration of the new generation of information technology and advanced manufacturing has been continuously promoted, and a global data management system has been built to fully realize the in-depth utilization of data inside and outside the production process.
In terms of channel layout, the company laid out the construction of omni-channel coverage, and during the reporting period, it successfully built a strategic layout of three-dimensional channels such as "KA channel + e-commerce channel + home improvement channel + engineering channel + sinking channel". As of the end of the reporting period, the company had more than 1,500 dealers, covering 31 provinces (autonomous regions and municipalities directly under the central government) across the country.
It is worth mentioning that among the many channels, the laying of e-commerce channels has achieved significant growth. Yitian Intelligent operates a multi-channel system with a professional team of refined operations, platform e-commerce, content e-commerce, and social e-commerce go hand in hand, and has reached cooperation with head anchors such as Crazy Brother Yang. During the reporting period, the number of store views on the Tmall platform and Jingdong platform totaled 35.64 million, the number of store members reached 2.27 million, and the total turnover exceeded 900 million yuan, an increase of 10.68% over the same period last year.
Although the integrated cooker industry is still affected by factors such as the decline in real estate, consumption downgrade, insufficient penetration, and serious product homogenization in the short term, there is still room for growth in the integrated cooker market under the background of the deepening of the urbanization process, the transformation of old kitchens, and the release of demand for trade-in.
For Yitian Intelligence, the future competition is a comprehensive test of the company's comprehensive ability and innovation ability, with the "Yitian" brand reputation gradually highlighted, its market competitive advantage will be more prominent.