Zhejiang University’s recently released mid-year report showed that the company’s revenue for the first half of the year was 562 million yuan, a year-on-year increase of 51%; net profit was 146 million yuan, a year-on-year increase of 47%. As the first domestic integrated stove, Zhejiang Midea still maintained a good growth in the context of the overall decline in the kitchen appliance industry in the first half of the year. The company said that the growth in revenue is mainly due to the high-speed development period of the integrated stove segment.
On the one hand, the overall sales of the kitchen appliance industry showed a downward trend, and on the other hand, the integrated kitchen appliances as a segment of the industry grew rapidly. It is in this context, including the traditional kitchen power giants, some powerful companies have entered the integrated kitchen (integrated stove) market, want to share a slice in this segment, the integrated stove market is facing Shuffle the cards once.
Giants have joined the battlefield
Integrated kitchen power market is booming
Recently, Boss Electric and Jindi Electric held a strategic cooperation signing ceremony in Zhangzhou, the capital of China's kitchen utensils. Boss Electric will strategically control Jindi Electric, 51% of its shareholding ratio, and integrate it into the kitchen market. Many executives of Boss Electric also enriched the board of directors of Jindi Electric, including Zhao Jihong, president of Boss Group, and chairman of Jindi Electric.
Jindi Electric Co., Ltd., headquartered in Zhangzhou, is a company specializing in R&D, production and sales of integrated kitchen appliances. It has been developing and producing integrated stoves for 10 years. As the leader of the kitchen appliance industry, Boss Electric’s strategic holding of Jindi Electric is very clear: it quickly cuts into the kitchen appliance segment, which is rapidly growing, rapidly occupying market share and expanding kitchen appliances. It saves the cycle of self-development and self-built factory production. Zhao Jihong said that in addition to capital investment, Boss Electric will also fully invest in brand ideas, human resources, financial resources, technical resources, etc., to inject fresh blood into Jindi Electric, and activate the development space of the entire enterprise. Jindi Electric starts from the integrated stove, but not only the integrated stove, but to create an integrated, intelligent, high-end integrated kitchen.
Prior to Boss Electric, Wanfeng Auto Group, a Fortune 500 company headquartered in Xinchang, also began to enter the high-end intelligent integrated stove, and set up Beidouxing Intelligent Electric Appliance Co., Ltd., and invested 200 million yuan in the first phase to establish intelligent integrated kitchen appliances. Production base. "The Group's strong manufacturing genes are our strengths," said Yang Xiaoying, general manager of Big Dipper. The company's three fully intelligent assembly lines have an annual production capacity of 100,000 integrated stoves. In May of this year, the launching ceremony of the “Beidouxing Integrated Kitchen†high-speed railway was held at Wuhan Railway Station. The company hopes to launch the strategic cooperation with China High Speed ​​Rail to bring the Big Dipper integrated stove to the market quickly. It is understood that in the first half of this year alone, there are 300 stores in the Big Dipper integrated stove to compete, and the products are in short supply.
In addition, Haier, Midea, Oaks, TCL and other home appliance industries have entered the integrated stove market in recent years. The old kitchen electric appliance company Shuaikang also released a new product quick-release integrated stove in March this year. Statistics show that the number of domestic integrated stove enterprises has exceeded 300, and has formed three industrial clusters in Zhejiang Haining, Zhejiang Zhangzhou and Zhongshan Shunde. According to Zhang Xiaozhong, secretary general of the Cangzhou Kitchenware Industry Association, it is in Zhangzhou, and there are currently 70 or 80 integrated stove manufacturers.
Will integrated kitchen appliances become a vent?
Industry reshuffle is inevitable
In fact, the integrated stove is not new. As early as 2003, Zhejiang Meida developed and produced the first generation of integrated stoves. Although it has been upgraded afterwards, the market size is not large. Taking Zhejiang Meida, the leader of the integrated stove industry, as an example, in 2015, the annual revenue was 520 million yuan, while the kitchen appliance leader's electrical revenue reached 4.54 billion yuan. Although the market for integrated stoves has developed rapidly in the past two years, the market share is still less than 5% compared to the traditional combination of smoke stoves.
Recently, the reporter has visited Suning Tesco and five stores of five-star electric appliances in Hangzhou. No traces of integrated stoves have been found. This also confirms that the market recognition of integrated stoves is not high. On Taobao, the price of integrated stoves ranges from 2,000 yuan to more than 30,000 yuan, and the price varies greatly.
The integrated stove is a kitchen appliance that integrates various functions such as a range hood, a gas stove, a disinfection cabinet and a storage cabinet. According to reports, unlike the upper row of ordinary range hoods, the integrated stove adopts the method of side suction and lower row, and the effect of sucking and draining oil is good. Compared with the traditional three-piece kitchen electric cooker (soap hood, cooker, disinfection cabinet), the integrated stove oil smoke does not pass through the human face. If the quality and installation problems are excluded, the smoke smoke removal rate can reach more than 95%. With industrial design aesthetics and fashion sense, and more space-saving, will not meet, do not drip, deeply welcomed by young groups such as the post-90s, market awareness is constantly improving.
Despite the large number of production companies, according to industry insiders, currently more than 300 integrated stove manufacturers are generally small, most of which are OEMs, with only about 20 independent production capacity. However, precisely because the proportion of integrated stoves in the kitchen appliance market is not high, the scale of enterprises is generally small, and the industry is in a period of rapid development. In the context of the decline of traditional kitchen appliances, many home appliance giants have seen opportunities and have killed Into the integrated kitchen power market, the resulting industry reshuffle is inevitable.
According to the trend of the power grid, the integrated stove industry in the first half of this year increased by about 30% year-on-year, and the online sales growth was more obvious. According to the data of the home appliance data company Zhongyikang, in the first half of this year, the retail volume and retail sales of the integrated stove online market reached 155,000 units and 950 million yuan respectively, up 97.7% and 138.3% respectively. In the first quarter of this year, the traditional kitchen appliance industry experienced the first negative growth in recent years. The offline retail sales of range hoods, gas stoves and disinfection cabinets increased by -16.7%, -7.5%, -11.9%, respectively, online market. The growth rate has further slowed down. Aowei cloud network appliance market data shows that the kitchen appliance market (including range hoods, gas stoves, disinfection cabinets, and small household appliances such as rice cookers, induction cookers, electric kettles, juicers, etc.) in the first half of the year has shrunk by -1.6%.
The addition of giants has also changed the products that integrate kitchen appliances. The traditional integrated stove is mainly composed of three functions, namely, a range hood, a gas stove and a lower cabinet, wherein the lower cabinet is mainly a disinfection cabinet. With the development of the industry, integrated stoves with steamer function began to become standard, and some brands introduced oven-integrated stoves and dishwasher integrated stoves. The home appliance giants are taking the integrated kitchen electric intelligent as the development direction. For example, Big Dipper and Jindi Electric have proposed the concept of smart kitchen appliances.
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