The smart drying rack has a good future, and it will be credited for its future quality life.

A few years ago, a single hanger of stainless steel and plastic was hung on the balcony of the house. The short points were not enough. But many households have already used hand-operated automatic clothes rails, and even more, use them directly. A smart washing machine with functions such as drying . The good wife, the professional manufacturer of “drying racks”, has also crossed these periods and has taken the capital express train to drive to the next “smart home”.

On December 1st, the home brand “Good wife”, which already has the titles of “China Well-known Trademark” and “Top 100 Manufacturing Enterprises in Guangdong Province”, obtained the capital market certification stock code “603848.SH” and was officially listed on the Shanghai Stock Exchange. The issue price of 7.89 yuan / share, as of the 8th, has risen nearly 132%, closed at 18.3 yuan / share, highly sought after by investors, "home stocks" to add new recruits.

However, from the perspective of segmentation, there have been no companies in the A-share market that have dominated the balcony. According to the data of Analysys think tank, by 2018, the scale of China's smart home will reach 180 billion yuan, and the consumption blue ocean market will appear.

The new stocks are in full swing, and the good wife is the "first coat of drying racks". At this time, it coincides with the IPO, raising 323 million plus code smart homes, and the advantages are highlighted.

Deep cultivation brand for 18 years

The prospectus shows that the good wife was established in 2005, but traces the brand history. The good wife has been 18 years old, and nearly 20 million households are using the wife products.

It is understood that the company's main products are drying racks and other smart home products with different functions, from hand-shake, external floating and landing series of single drying function to intelligent with functions of lighting, disinfection, air drying, drying, sound control and automatic lifting. Electric series, complete product line.

Different series of products represent the iteration of good wife products to meet the needs of different consumers, making the tedious balcony work simple and interesting.

The history and culture of a drying rack enterprise, the feedback accumulation after the user uses it, the word of mouth, etc., will eventually settle in the brand, and for the consumer, more depends on the brand identity to select the product, the brand "good wife" It has been built since 1999 and has undergone 18 years of market testing and has received many honors and qualifications.

It is worth noting that the company has not taken the promotion of the brand lightly, paying attention to shaping the brand connotation of “good wife”, and hiring a star that matches the company's brand image and connotation as a spokesperson, such as Liu Tao, a good wife and good mother in the eyes of outsiders, to enhance the attraction. And through the various high-speed rail, television, network and other media channels to deliver advertising, brand awareness and market share have been improved.

Of course, the brand's prominence complements the company's unique development vision. The traditional drying rack industry has the characteristics of “small, rough, miscellaneous, chaotic”, the quality of the products is mixed, and the good wife adopts scale, automation, standardization and intelligence. Production mode, transformation and upgrading. Unexpectedly, the upgrade of the product has brought opportunities to the good wife. During the reporting period, the sales proportion of its intelligent series of drying racks has increased from 21.82% to 40.97%. With the increase in sales of high-priced products, the average selling price Year by year, the gross profit margin has also steadily increased.

According to the financial data in the prospectus, from 2014 to the first half of 2017, the good wife's operating income was 594 million yuan, 679 million yuan, 808 million yuan, 470 million yuan, and the compound growth rate in the past three years was 16.6%. .

In addition to year-on-year growth in revenue, the good wife's profit is also very impressive. From 2014 to the first half of 2017, the good wife realized net profit of 112 million, 133 million, 152 million and 0.71 billion respectively, and lived off a profit "cow".

Innovative smart products

However, the most important thing for enterprises is to have a sense of “safety in times of danger”. Although the sales volume of smart drying racks has increased year by year, it is contrary to the curse of real estate, and behind the profits is the ceiling of the market. The good wife is also aware of the single risk of her own products. With the upgrading of the industry, she will catch up with the smart home, expand new business, and open up a broader market through the listing of fundraising and smart homes.

In addition, changes in domestic demand and consumption levels will further drive consumption growth in the home sector alone, and intelligence will become one of the important directions for the future development of household products.

In the prospectus, the goal of the good wife is not to become a “global well-known drying rack enterprise” but a “global well-known smart home enterprise”. At present, the smart home products of the good wife are mainly intelligent washing machines and smart trash cans. The total fundraising amount is 323 million yuan, which is invested in 4 projects. After the project is put into production, it is expected that the company will add 1.6 million sets/year of intelligent washing machines. And 1.4 million sets / year of smart home electrical production capacity, good wife will force the production of humidifiers, dehumidifiers, air purifiers, smart sockets and other smart small appliances.

Mrs. said that she will continue to overcome technical difficulties, improve the technical level of intelligent washing machines, and focus on Internet communication system technology, ultra-quiet motor control technology, combined with infrared and WIFI in smart small appliances and smart home control systems. Spirit sensitive should be based on automation control technology and other projects to enhance the core competitiveness of smart products.

For a good wife who wants to plow in the smart home field, since it is necessary to play high technology, can R&D technology pass?

The prospectus shows that Mrs. Hao has sufficient R&D technology accumulation in control panel and so on. The company has obtained 215 patents so far, and has applied a number of technological innovations into the production and quality control process to improve product quality. For the R&D expenditure, the good wife has always been “not soft”. ​​In the past three years, the R&D investment has increased year by year, which is 20,815,800 yuan, 230.349 million yuan, and 27.27 million yuan.

Future business is moving forward steadily

The leading-edge drying rack business and the smart home business standing on the air outlet, the good wife gathers the best in the world and has a promising future.

From the perspective of industry status, whether it is revenue or profit, good wife is in the forefront. When most companies are still in the low-end competition stage of price and cost, the good wife has realized her own capital operation, and With a strong breakout, prices are no longer the highlight of their competition. With the continuous development, the good wife will gradually seize the market share of SMEs, the market concentration is higher, and the gap will further widen.

The achievements of the good wife, in addition to being linked to the brand, are inseparable from the opening of sales channels. According to the prospectus, there are three sales channels for good wife: distribution, e-commerce and direct sales. By the first half of 2017, the sales amount of the three parties accounted for 82.22%, 16.36% and 1.42% respectively. At present, the company has 8 direct sales stores, 410 dealers, and 1448 dealer stores.

It is worth noting that most of the dealer teams that the good wife cooperates have more than 10 years of cooperation experience. From the brand creation to the present, there are still many people who are still working together. At the same time, the dealer team’s store display and decoration style are all The good wife controls the one hand and maintains consistency.

With the changes in consumption habits brought by the Internet wave, the company actively explored and tapped the growth potential of e-commerce channels and achieved remarkable performance improvement results. The company's e-commerce channel has a compound growth rate of 81.29% in the past three years, and the gross profit margin has therefore Increased.

Although "internal cause" dominates the result, "external cause" is also a contributing factor. Over the years, Mrs. Good has been rooted in the home industry through the shaping of the brand, the upgrading of products, and the investment in marketing and research and development. Now the opportunity has arrived.

According to the report of “Intelligent Change the Future – Current Status and Development Trend of Smart Appliances” jointly released by China Household Electrical Appliances Association and Aowei Consulting, the output value of smart home appliances in China has reached 100 billion yuan in 2013. By 2020, this The number is expected to reach 1 trillion yuan, of which the output value of terminal equipment will reach 800 billion yuan. Who is going to eat such a big cake? There is no doubt that the good wife has already got the "knife and fork"

Editor: China drying rack network - Dabao