Stock price soaring to conceal the plight of the breakdown of methods for home a
Appliances
Plate last week, following the market trend in the share price soaring week, weekly gain in nearly 20%. However, National Bureau of Statistics said recently, Chinese home appliance industry is slow growth from high-speed turn. Slowing demand and shrinking profit margins the industry has to face short-term problem. How collapsed appliance industry?
Favorable capital market priced in the policy
Capital markets always reflect economic trends in advance, so the policy for several good week, A share market to respond immediately.
Worsening financial crisis in the world, China's economy has been the emerging context of the impact of last week, the State Council, China's macro-control policy has been adapted not only to implement the proactive fiscal policy and a moderately easy monetary policy, also announced in arranged within the next two years more than 4 trillion yuan of funds start strong domestic demand.
The policy of expanding domestic demand for any industry, including home appliance industry are good, but they must be good to show up in the long run. However, due to the sensitivity of the stock market and the policy response in advance of last week's capital markets were up big plates. According to a platform for intelligent data showed last week, drawing huge amount of 17.06% appliance plate, plate leading Qingdao Haier, Midea and other gains in all exceeded 10% of the shares, there is clear sign of capital inflows.
Winter home appliance industry has not come
Recently released 2008 National Bureau of Statistics of China home appliance industry prosperity index shows that the Chinese home appliance industry sentiment index continued to drop the first three quarters, the decline rate is increasing at the same time. According to
Konka
Group President, Assistant introduction, household appliances export industry is facing at least four important effects.
One is the instability overseas partners operating risks; Second, the countries exchange rate volatility is too large, and the renminbi appreciation, exports are vulnerable to exchange rate changes and loss; the third, the credit crisis deepened, many foreign banks to open letters of credit are not received, the company added to the cost of settlement in the overseas market. Also, because labor costs to increase substantially after the increase in raw materials has increased the cost of appliances, resulting in more and more small home appliances export advantage, so exports face significant obstacles.
From the perspective of domestic demand, despite the "home appliances to the countryside" strategy will in the future demand on the domestic appliance industry driven. But in the short term, policy implementation and the implementation of the countryside household electrical appliance enterprises will take some time. And supporting consumer appliance industries as real estate, due to weak demand for real estate recently, also to some extent, affect the industry needs low, poorly developed.
This view, the situation facing the appliance industry is not optimistic. External environment from the current industry view that the domestic industry is still in decline in the macroeconomic cycles, demand for home appliances is expected to be difficult in the next 2 to 3 quarters of an effective recovery, "the preliminary judging round of the cycle low of household appliances fell at least in 2009 after Q2 and beyond. "
Innovative thinking is the key to breaking up
Face six months of "frozen period", destroying the appliance industry, how? I think the first course should be to cut expenditure, at this point, many household electrical appliance enterprises have in fact done.
TCL
, Konka, Skyworth and three companies have unanimously proposed to reduce the fees and expenses, while shrinking main line. Such as the TCL Group had transferred its 100% its stake in home state crown, while reduction of the TCL Industries raise capital increase 300 million yuan of investment projects. This of course is subject to successive decline in the stock market, but also showed the company's determination to vigorously reduce expenditure.
The revenue side, many home appliance manufacturers are now beginning to plan ahead or to the end of promotional programs. Many household electrical appliance enterprises is to further depress profit margins in pursuit of small profits. But the concrete results need to be seen at the end of earnings.
However, only cost savings, as well as markdowns, it is not enough.
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