Beijing News Shell Finance News (Reporter Chen Weicheng) On the evening of August 27th, Supor released the first half of 2020 financial report showing that operating income was 8.187 billion yuan, a year-on-year decrease of 16.76%; net profit attributable to shareholders of listed companies was 666 million yuan, a year-on-year decrease 20.48%. As of the close on August 27, Supor reported closing at 81.74 yuan, an increase of 1.03%. During the reporting period, earnings per share were RMB 0.813, a year-on-year decrease of 20.45%.
Under the epidemic, small household appliances have grown against the trend. According to the “Report on China’s Home Appliance Market in the First Half of 2020” issued by the China Electronics Information Industry Development Research Institute, the retail sales of my country’s home appliance market in the first half of this year was 369 billion yuan, a decrease of 14.13% over the same period last year. However, the sales of cooking appliances such as air fryer and grilling machine have been boosted by the “home economy”.
In addition, according to the total data of all channels of Aowei Cloud Network, small appliances (rice cookers, induction cookers, electric pressure cookers, soymilk machines, wall breakers, blenders, juicers, electric kettles, health pots, frying machines, electric steaming stew pots) ) A total of 11 categories, omni-channel retail sales totaled 27.82 billion yuan, a year-on-year decrease of 12.5%; omni-channel retail sales totaled 130.16 million units, a year-on-year increase of 6.5%.
Supor’s revenue declined significantly. The financial report explained that it was mainly due to the decline in operating income in the first quarter due to the impact of the new crown pneumonia epidemic; with the gradual stabilization of the domestic epidemic, operating income in the second quarter increased by 5.59% year-on-year. The total profit achieved was 804 million yuan, a year-on-year decrease of 26.66%, mainly due to the combined effects of the new crown pneumonia epidemic and increased online marketing efforts, which resulted in a slight year-on-year decrease in gross profit margin.
The company’s main business income was 8.148 billion yuan, a year-on-year decrease of 16.78%. The gross profit margin of the main business was 25.22%, down 5.63% year-on-year, and the gross profit margin dropped by 1.62% year-on-year, mainly due to the impact of the new crown pneumonia epidemic. Among them, the main business of cooking utensils realized income of 2.136 billion yuan, a year-on-year decrease of 30.43%; the main business of electrical appliances realized income of 6.01 billion yuan, a year-on-year decrease of 10.62%. The main business of domestic sales achieved revenue of 6.122 billion yuan, a year-on-year decrease of 19.53%; the main business of foreign trade achieved revenue of 2.026 billion yuan, a year-on-year decrease of 7.21%.
In terms of subsidiary operations, Wuhan Supor Cookware Co., Ltd., which is responsible for the cookware product business, has revenue of 1.235 billion yuan and a net profit of 3.49 million yuan; Zhejiang Supor Home Appliances Manufacturing Co., Ltd., which is responsible for electrical products business, has revenue of 1.483 billion yuan and a net profit of 50.17 million yuan. ; Zhejiang Shaoxing Supor Life Electric Co., Ltd., which is responsible for the business of small household appliances and kitchen and bathroom appliances, has a revenue of 2.871 billion yuan and a net profit of 440 million yuan.
In the second half of last year, Supor began a stock repurchase plan. As of July 31, 2020, the company has repurchased 3.6 million shares, accounting for 0.44% of the company’s total share capital, and the total amount paid was 241 million yuan (excluding transactions cost). As of the end of the reporting period, SEB Group held 81.19% of Supor’s shares.
China Securities Investment believes that the company, as a leader in small household appliances with significant offline advantages, will face greater short-term pressure during the epidemic. However, in the long run, Supor’s high-quality brands, products, and channels are still deep in the moat, with the resilience and stability to cross the cycle, and are optimistic about the company’s steady growth in the export market and the increase in domestic market share.
Beijing News Shell Finance reporter Chen Weicheng Editor Wang Jinyu Proofread Xue Jingning