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A-Share Listed Small Appliance Companies - Profiles and Financial Data

A-Share Listed Small Appliance Companies - Profiles and Financial Data

A small household appliance refers to low-power appliances. It can be classified into 4 types by functions. The first is cooking products (including rice cooker, soybean milk machine and microwave oven); the second is furniture products (including fan, stereo equipment and water cooler); the third is personal care appliances (including hairdryer, shaver and electronic toothbrush); the fourth is digital consumer products (including MP3 and digital camera).

The developing Chinese economy and improving personal income accelerate the pace of life. Therefore, the market of small appliances which reduce domestic labor intensity and improve the quality of life is developing rapidly.

According to CRI, in the first and second tier cities with higher income per capita, the small appliances market has been saturated. In the third and fourth tier cities and rural areas, due to the huge population (taking up over 80% of the Chinese population), different areas have different levels of economic development. Rapid economic growth in the third and fourth tier cities and rural areas provides a huge market opportunity for small appliances. The development of small appliances is characterized by short popularization period of single product, new product-driven growth and diminishing marginal utility of new products. In contrast to major appliances, lower prices of small appliances shorten the popularization period. It often sees explosive growth in one to two years before the market gets saturated and the sales growth slows down.

CRI expects that Chinese economy will remain at 6% of economic growth from 2017 to 2021. residential income will continue to rise. Considering the low prevalence of small appliance compared to developed countries, the small appliance industry is expected to grow in the next few years.

In this report, CRI analyzes 19 small appliance manufacturing enterprises listed in A-share market in China.

The report is composed of two parts: the first part is enterprise profiles and the second part is the operation status of these enterprises in the recent decade (presently 2006 to 2016, we will update it to the latest as time goes by).

The operation status is demonstrated from the following perspectives: (1)financial indexes, such as earnings per share, book value per share (BPS), sales per share, net cash flow per share, return on net worth and debt to asset ratio; (2) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (3) indexes on the income statement, such as revenue, operating profit, net profit and EBIT; (4) indexes on the balance sheet, such as liquid asset, fixed asset, current liability, non-current liability, capital reserve and shareholders' equity.

(1) Financial Indexes

  • Earnings per Share
  • Book Value per Share (BPS)
  • Sales per Share (SPS)
  • Net Cash Flow per Share from Operations
  • Net Cash Flow per Share (CNY)
  • Return on Net Worth
  • Net Profit Margin on Total Assets
  • Return on Invested Capital (ROIC) (%)
  • Gross Profit Margin on Sales (%)
  • Net Profit Margin on Sales (%)
  • EBIT Margin (%)
  • EBITDA Margin (%)
  • Debt to Asset Ratio (%)
  • Total Asset Turnover (times)
  • Cash/Operating Income Received from Sales of Goods or Services
  • YOY Growth Rate of Operating Revenue (%)
  • YOY Growth Rate of Operating Profit (%)
  • YOY Growth Rate of Net Profit Attributable to Shareholders of Parent Company (%)
(2) Summary of Income Statement
  • Gross Revenue (CNY, million)
  • Total Operating Costs (CNY, million)
  • Revenue (CNY, million)
  • Operating Profit (CNY, million)
  • Total Profit (CNY, million)
  • Net Profit (CNY, million)
  • Net Profit Attributable to Shareholders of Parent Company (CNY, million)
  • Non-recurring Items (CNY, million)
  • Net Profit Deducting Non-recurring Items (CNY, million)
  • R&D Costs (CNY, million)
  • Earnings Before Interest and Tax (EBIT) (CNY, million)
  • Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) (CNY, million)
(3) Summary of Balance Sheet
  • Liquid Asset (CNY, million)
  • Fixed Asset (CNY, million)
  • Long-term Equity Investment
  • Total Assets (CNY, million)
  • Liquid Liability (CNY, million)
  • Non-current Liability (CNY, million)
  • Total Liability (CNY, million)
  • Capital Reserve (CNY, million)
  • Surplus Reserve (CNY, million)
  • Undistributed Profit (CNY, million)
  • Shareholders' Equity (CNY, million)
  • Equity Attributable to Shareholders of Parent Company (CNY, million)
(4) Summary of Cash Flow Statement
  • Cash Received from Sales of Goods and Services (CNY, million)
  • Cash Flow from Operations (CNY, million)
  • Cash Paid to Purchase Fixed Assets, Intangible Assets and Other Long-term Assets (CNY, million)
  • Cash Paid for Investments (CNY, million)
  • Cash Flow from Investments (CNY, million)
  • Cash Received from Investors (CNY, million)
  • Cash Received from Borrowings (CNY, million)
  • Cash Flow from Financing (CNY, million)
  • Net Increase of Cash and Cash Equivalents (CNY, million)
  • Cash and Cash Equivalents, End of Period (CNY, million)
  • Depreciation and Amortization (CNY, million)
Please Note: All reports from China Research and Intelligence are written in Chinese, then translated to English. This process takes approximately 5 business days from the date the order is placed


Companies in the report:
1 Kingclean Electric Co., Ltd. (603355.SH)
2 Shanghai Flyco Electrical Appliance Co., Ltd. (603868.SH)
3 Guangdong Macro Co., Ltd. (000533.SZ)
4 Zhejiang Supor Co., Ltd. (002032.SZ)
5 Zhongshan Vatti Gas Appliance Stock Co., Ltd. (002035.SZ)
6 Joyoung Co., Ltd. (002242.SZ)
7 Dea General Aviation Holding Co., Ltd. (002260.SZ)
8 Zhejiang Ashida Electric Co., Ltd. (002403.SZ)
9 Ningbo Sunlight Electrical Appliance Co., Ltd. (002473.SZ)
10 Hangzhou Robam Appliances Co., Ltd. (002508.SZ)
11 Guangdong Vanward New Electric Co., Ltd. (002543.SZ)
12 Guangdong Chant Green Energy Co., Ltd. (002616.SZ)
13 Zhejiang Meida Industrial Co., Ltd. (002677.SZ)
14 Shenzhen Fenda Technology Co., Ltd. (002681.SZ)
15 Guangdong Xinbao Electrical Appliances Holdings Co., Ltd. (002705.SZ)
16 Kennede Electronics Mfg. Co., Ltd. (002723.SZ)
17 Guangdong Tonze Electric Co., Ltd. (002759.SZ)
18 Leking Wellness Co., Ltd. (300247.SZ)
19 Shanghai Canature Environmental Products Co., Ltd. (300272.SZ)

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