4 Appliance Giant To Hand Over The First Half Report Card Mixed Feelings – Gree Electric Appliances,

Midea, Gree Electric Appliances, Sichuan Changhong, deep
Konka
Four semi-annual report yesterday, household electrical appliance enterprises in 2009 focused on appearance. Internationally
Financial
Crisis due to falling demand and other factors, four home appliance giant, income has declined during the first half, but the net profit performance is not the same,
Black
(Referring to TV) white (referring to air conditioners, refrigerators, washing machines) once again showed different market situation.

Gree Electric appliances in the first half net profit of U.S. were up 29.18 percent year on year and 18.63%; and Sichuan Changhong net decrease of 22.56% year on year, Shenzhen Konka A meager 0.3% year on year net profit, “two happy Both worry. “

Home appliance giant, mid-year performance profiles of four

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White giant, eye-catching performance

Midea said in the first half of the international financial crisis and global economic downturn, the situation, though still serious, but the domestic economy gradually recovering and the series active policies to promote economic growth, effectively promoting the growth of domestic consumption appliances.

Semiannual reports show that U.S. appliance 1 to 6 months operating income of 24.901 billion yuan, though decreased 11.33% year on year, although raw material costs as a greater decline than the previous year, the company created in the first half net profit of 1.146 billion yuan, an increase of 18.63%. Air-conditioning and parts of which 18.487 billion yuan in revenue. Aspects of the United States, said after the company into the season, “to stock” of efforts to increase and improve profitability, increase cash flow is the main reason.

At the same time, another industry giant white Gree performance of the same eye-catching. Gree first half revenue 19.99 billion yuan, up 19.89% reduction of net profit 1.231 billion yuan, up 29.18 percent. Said, in the air conditioning market as a whole is weak, the company continues to increase market share, industry leading position further strengthened.

Good news in the performance, while under the influence of the financial crisis, the two companies a serious decline in overseas business. The two companies are also the main reason for reduced revenues. Midea overseas markets where revenue fell 20.58%, Gree decreased by 48.38%.

Securities of that person, in the first half Gree, Midea two listed companies to adjust product structure, the main business to the gross margin of energy-efficient air conditioning tilt higher, gross margins increased, but this year end market prices generally higher than air-conditioning low, the resulting decline in operating income, net profit rising trend. He said the current position, Gree, Midea’s performance has improved over the beginning, great bottoming trend.

Worry
Poor performance of black loss

Compared with white business, Sichuan Changhong, Konka two traditional black performance of the business is not optimistic.

According to semiannual reports, Sichuan Changhong the first half of the total operating income of 13.277 billion yuan, down 6.76%. Among them, the domestic core business revenue dipped 2.58%, the foreign main business income of a substantial decrease of 27.28 percent year on year. Net income was 30,043,300 yuan, up 22.56% year on year greatly reduced.

Changhong said that as traditional TV production companies on domestic in
CRT
Mature industrial chain products, with strong competitiveness, but with the global consumer
Electronic
Upgrade, the company has been gradually weakened the traditional competitive advantages, the company will actively promote industrial upgrading. Industry analysts point out that the times into the flat, Sichuan Changhong has been betting that the plasma industry, 1 in July this year,
Changhong plasma
TV sales rose nearly 300%, but for LCD TV, Changhong’s response and action seemed to be somewhat slow, missed the rapid on the LCD TV market volume of its LCD TVs sales in the domestic market ranked No. 5.

Relative to the sharp drop in profits, Sichuan Changhong, Konka is only slightly deep loss. The first half of the total company operating income of 5.172 billion yuan, down 7.98%; operating profits down 18.30%. Net income was 80.302 million yuan, a decrease of 0.31% over the previous year.

Konka that caused the poor performance of the main reasons the company is
LCD panel
, Due to the shortage of liquid crystal module. In the first half of the financial crisis continued to influence, the LCD panel and module makers have been hard hit by cuts or even stop production, two products of domestic supply significantly, the domestic LCD TV makers are deeply tired. The deep Konka affected, in the first half sales fell 7.98%.

Previously, many companies have issued Pre-losing black warning, Cinda Securities analyst believes that white goods and
Small appliances
Plate in the middle of 2009 net profit will be warmer, and the black appliance industry will face a polarized situation.

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