Technical iteration accelerates color TV market differentiation Hisense video in the first half of the year rose more than 50 %

Photo source: take by Zhu Wanping every time (data map)

Torn off the label of the TV, choose to break through the market, let Hisense Video (SH600060, a stock price of 12.44 yuan, and a market value of 16.3 billion yuan) has different performance curves in the downturn TV industry.

On August 31, the 2022 interim report released by Hisense Video showed that the company achieved operating income of 20.214 billion yuan in the first half of this year, a year -on -year decrease of 3.55%, but the net profit attributable to shareholders of listed companies was 594 million yuan, a year -on -year increase of 52.82 %.

At the same time, as an indicator of the business performance of the enterprise, the net profit of Hisense Video increased by 93.58%year -on -year, and the net cash flow generated by the company's operating activities increased from negative to positive to 3.348 billion yuan.

Although the first transformed Hisense video financial indicators have shown a good trend, the overall color TV market still has not stepped out of the downturn. "Daily Economic News" reporter noticed that after the Chinese color TV market retail in 2021 hit a new low of 12 years, the domestic color TV market retail in the first half of this year has a "double decrease" situation.

While this trend brings crisis, the color TV industry has also bred new opportunities. Hisense video mentioned in the semi -annual report that behind the sharp decline in the industry's scale is the new opportunity for technology renewal, high -end market capacity expansion, and product structure adjustment.

Business global combination helps operating stability

After the difficulty of 2021, although the pressure of raw materials was weakened in 2022, the global downturn environment has not been able to come back against the wind.

According to market research agencies OMDIA, in the first half of 2022, global TV sales were 92.6 million units, with sales of 47.5 billion US dollars, a decrease of 6.6%and 12.5%year -on -year.

In the global television industry decline, the Chinese market has not been spared. According to the data of Ovi Cloud Network, in the first half of this year, the scale of omni -channel retail in the Chinese market was 16.72 million units, a decrease of 6.2%year -on -year, and the retail sales scale fell 10.5%year -on -year.

However, compared to the overall decline of the industry, Hisense images as head players have given the opposite trend in the first half of the year. According to the financial report data, in the first half of 2022, Hisense's TV shipments increased in double -digit, and the market share of shipments ranked third in the world, an increase of 2.5 percentage points year -on -year; in the second quarter, the market share ranking of shipments increased to increase The second in the world, the market share is 12.1%, a year -on -year increase of 2.5 percentage points.

Among them, in the domestic market, in the first half of 2022, Hisense Video's retail sales in the Chinese TV market reached 24.29%, an increase of 4.82 percentage points year -on -year.

Overseas markets that have been deployed for many years have become more and more obvious in the business composition of Hisense video. Hisense image mentioned in the 2021 financial report that the global combination of business played an important role in the stability of business.

Hisense's internationalization direction aims at three target markets: Europe, the United States and Japan. At the Hisense Open Day Forum in October last year, Jia Shaoqian, president of Hisense Group, told the "Daily Economic News" reporter that the home appliance industry has consensus. These three are high -end markets worldwide, leading the development trend of international industries. These three markets can be regarded as a world -class brand.

Judging from the performance of the first half of 2022, Hisense's sales in several key markets have steadily increased. Taking the North American market as an example, GFK/NPD data shows that the sales of Hisense brand sales have steadily increased to 12%in North America, an increase of 1.5 percentage points year -on -year, 1.1 percentage points in the US market year -on -year two. In the Japanese market, Hisense and Toshiba brand sales have continued to increase to 32.2%, maintaining first.

Technical iteration brings new challenges and opportunities

Against the background of the overall trend of the industry, the growth rate of the television industry has gradually slowed down, and market competition is becoming more intense. However, the growth of Hisense video also shows that there is also opportunities to exist in the continuous crisis.

Hisense video mentioned in the semi -annual report that behind the sharp decline in the industry's scale is the new opportunity for technology renewal, high -end market capacity expansion, and product structure adjustment.

On August 31, a color TV industry person told the reporter of "Daily Economic News" on the phone that although the number of TV shipments was "down all the way", the TV panel was selling bigger and bigger. The main battlefield, which also directly caused a new situation in the "volume decline" of the Chinese color TV market this year.

According to the overall data of Ovi Cloud Network, in the first half of 2022, the market share of TV sales of 75 inches and above was 35.91%, a year -on -year increase of 13.92 percentage points. Steady improvement.

Taking Hisense Video as an example, in the rise of its overall market share, the contribution of high -end TVs played a pivotal role. Data show that the market share of the high -end TV market under Hisense's offline high -end TV market reached 30.24%, an increase of 8.32 percentage points year -on -year, ranking first in the industry; the TV market of 65 -inch and above, 75 -inch, above, 80 inches and above, The retail sales and market share ranks first in the industry (excluding Hong Kong, Macao and Taiwan).

GFK's research data also showed that in 2021, the growth rate of large -scale TV markets in 70 inches and above reached 49%, far exceeding the average growth rate of 11%of the entire domestic large household appliance market. Industry consumption trends have shown that the era of large -screen TV consumption has quietly arrived. "Guangming Daily" mentioned on August 25 cited a person in charge of a Suning Tesco direct store stated: "In the past, big cities were the main market for large -screen TV consumption, but large -screen TVs also requested space. Regional housing area is larger, and the improvement of consumption level has made large -screen TVs have a broad consumer market. "

According to the analysis of Aowei Cloud, the next "update boom" of the Chinese color TV industry will come from 2023 ~ 2025. The laser display products as the selection of "upgrade" selection are in the stage of accelerated upgrading reserves.

It is worth noting that although industrialization has only gone for 9 years, after the driving factor changes, laser TVs are becoming the object of many colorful electricity companies.

Hisense video mentioned in the semi -annual report that technological iteration accelerates, new technology products represented by laser display, 8K, etc. will grow rapidly. It is expected that the retail volume of new technology products throughout the year will increase by 100%. New products have emerged endlessly, and the premium capacity brings will also bring more profit growth space for TV companies.

Daily Economic News

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