The quarterly reports disclosed by the three listed companies today showed that the home appliance industry's first quarter performance growth was strong. Qingdao Haier (600690, shares it) (600690) in the first quarter belongs to the parent company's net profit increased by 159% year-on-year; Midea Electric (000527, shares it) (000527) attributable to the parent company's net profit of 630 million yuan, an increase of 249%; Gree Electric (000651, shares it) (000651) performance growth is relatively low, but also 15.3%. The increase in net profit of the three companies was significantly higher than the increase in operating income.
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According to the quarterly report, Qingdao Haier achieved operating income of 13.3 billion yuan in the first quarter, a year-on-year increase of 45%; net profit attributable to shareholders of the parent company was 358 million yuan, a year-on-year increase of 159%. In the first quarter, Midea Electric achieved sales revenue of 15.5 billion yuan, a year-on-year increase of 76%; profitability increased significantly; net profit attributable to the parent company was 630 million yuan, a year-on-year increase of 249%. In the first quarter, Gree Electric achieved a total operating income of 10.2 billion yuan, a year-on-year increase of 12.76%; the net profit attributable to the parent company was 639 million yuan, a year-on-year increase of 15.3%.
It is worth noting that although the price of bulk raw materials has increased significantly compared with the same period of last year, the gross profit margin of Qingdao Haier in the first quarter of 2010 has achieved steady growth. The optimization of the company's product structure has had a positive impact on the improvement of gross profit margin; in the context of the accelerating trend of household appliance consumption, the company's high-end product influence and market share increase can improve profitability, launching “Casa†The high-end series of products such as refrigerators and washing machines have achieved good market results. Market participants believe that as the leading enterprise in the domestic appliance industry, Qingdao Haier always carries out product innovation and leads the development trend of the industry. The future development is worth looking forward to.
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