Reporter | Xu Shiqi
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On the evening of October 29, Midea Group (000333. SZ) released its third quarterly report for 2021.
The report shows that Midea Group achieved operating income of 261.342 billion yuan in the first three quarters, an increase of 20.57% year-on-year; net profit attributable to the mother was 23.455 billion yuan, an increase of 6.53% year-on-year; deduction of non-net profit of 22.565 billion yuan, an increase of 9.45% year-on-year. By region, domestic revenue increased by 24.7% and overseas revenue by 15.1%.
In a single quarter, Midea Group achieved revenue of 87.532 billion yuan in the third quarter, an increase of 12.66% year-on-year; net profit attributable to the mother of 8.446 billion yuan, an increase of 4.4% year-on-year; deduction of non-net profit of 7.928 billion yuan, an increase of 10.75% year-on-year.
The gap between Midea Group and its old rival Gree Electric Appliances has become wider and wider. The latter's net profit in the third quarter of this year declined by more than 15%. Midea's single-quarter revenue has surpassed pre-epidemic levels, up 30.4% compared with the same period in 2019. From the perspective of market capitalization, Midea Group is also more than twice that of Gree Electric Appliances.
From the perspective of the top ten shareholders, Hong Kong Securities Clearing Company Limited (Northbound Capital) continued to increase its holdings by 109 million shares in the third quarter, and is currently the second largest shareholder of the company, accounting for 18.61% of the total share capital. The securities company is the third largest shareholder, and there was no increase in holdings and reductions in the third quarter. Fang Hongbo, chairman of Midea Group, is currently the fourth largest shareholder of the company, holding 117 million yuan, accounting for 1.68%.
Midea's group institutional shareholding is still relatively large, and on October 29, choice data showed that Midea's group institutional shareholding accounted for 60.19% of the outstanding shares. In contrast, Gree Group's institutional shareholding ratio was 47.16%, and a number of shareholders significantly reduced their positions in the third quarter, and the northbound fund significantly reduced its holdings by 204 million shares.
Frankfurt-listed German KUKA also released a financial report on the 28th, and the company finally came out of the loss dilemma in 2020. In the first three quarters of 2021, KUKA's sales revenue was 2.360 billion euros, an increase of 26.8% year-on-year, and EBIT's EBIT profit was 45.5 million euros, compared with a loss of 70.5 million euros in the same period last year, and this year it turned into a profit, an increase of more than 100%.
From the business side, the third quarterly report did not disclose the revenue of each business sector, but the United States officially issued some bright data. For example, the newly established high-end sub-brand COLMO shoulders the heavy responsibility of Midea's impact on the high-end market, and colmo's retail revenue in the first three quarters of this year exceeded 2.5 billion yuan, an increase of more than 320% year-on-year.
In October, Midea also launched an Internet of Things operating system that aims to "'Android' in home appliances", and the company said that it has more than 52 million connected smart devices on its own platform and more than 6.1 million users of smart cloud butler services. However, Midea Group's efforts on the Internet of Things platform are relatively late, which is still far from the more than 350 million device access of Xiaomi IoT (the data announced by Lei Jun in May this year).
In terms of stock price performance, the overall performance of the home appliance sector is not good, the Midea Group reached a high of 108 yuan / share at the beginning of the year, the year of the shock fell, this year has fallen by 28.99%, the market value evaporated more than 270 billion yuan. At the close of trading on October 29, Midea Group reported 68.77 yuan / share, up 0.95% on the day, with a total market value of 480.1 billion yuan.