In 2013, home appliance companies will be polarized

The annual reports of listed companies in the home appliance industry will be disclosed in the near future. Industry analysts believe that with the gradual improvement of the overall industry growth rate this year and the withdrawal of stimulus policies, the performance of household electrical appliance companies will become more differentiated, and the valuation of the leading enterprises in the household appliance industry will still be there. Room for improvement.

Among the listed companies of home appliances with current pre-disclosure performance, the white radio and television companies have performed well. China Refrigeration Compressor Leading Enterprise Huayi's net profit growth was close to 260%; air-conditioner leading Gree Electric Appliance's net profit increased by 41%; Meiling Electric's performance increased by 70%. The business transformation of the United States last year, the main business faced nearly 30% decline, but the analysis said that last year's profitability will still increase 4%.

In the color TV field, the industry expects that the annual sales growth of TCL, which has exceeded the sales volume of 15 million units, will be around 3.5%, while the other color TV leader, Hisense Electric, will face a downturn.

Chen Zhijian, an analyst at Changjiang Securities, believes that the home appliance industry showed signs of recovery in the fourth quarter of last year. However, as the overall growth rate of the industry improves this year and the stimulus policies are withdrawn, the performance of listed companies will become more differentiated, and the performance of leading listed companies will become more certain. high.

It is worth noting that among the listed companies that have pre-disclosed the performance of their home appliances, most of the big losers are small household appliances companies. The losses of net profit of small household appliance enterprises such as Mengfali, Aishida, Sanglejin all exceeded 50% last year. The reasons for the decline in performance are mostly due to the company's export difficulties. Mengfali once told a reporter from the China Securities Journal that this year it will make efforts to expand the domestic market in order to improve its business structure.

Analysts believe that the benefit of small appliances in the real estate warming is significantly weaker than that of the kitchen and toilet industry, and there are still certain uncertainties in the business adjustment of related companies. It is difficult for this year's small home appliance companies to achieve a fundamental change in their performance.