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Costs Continued To Increase Household Appliances Industry Concentration by qmqm wang
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Costs Continued To Increase Household Appliances Industry Concentration by QMQM WANG
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| Article Posted: 10/24/2010 |
| Article Views: 42 |
| Articles Written: 809 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 648 |
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Costs Continued To Increase Household Appliances Industry Concentration |
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Business,Business News,Business Opportunities
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Moderator: Xiao Zhang teacher Guests: Guoxin Securities Research Home Appliances Industry chief analyst Wang Nianchun
Dacheng Innovation Growth Fund Manager Wang Gang
Xiao Zhang teacher: in the context of global inflation, all kinds of raw material prices rise further, it will form a large household appliance industry pressure?
Wang Nianchun: the cost of increased pressure in the distinction between the bargaining power of different enterprises are more important. The increase in cost, companies simply by two approaches to deal with: First, the transfer of costs, the rising cost environment, for most of the home appliances, and similar necessities of life, if the industry can not fully bear the costs, is bound to be part of the cost pressures to consumers this side to; 2 is a structural price adjustment, upgrade and replacement market increased frequency of consumption, driven by the enterprise in the high-end products by improving the ratio to get higher profits.
Wang steel: the rising cost pressure is most important is to speed up the business division, after full competition eliminated, for example, competing home appliance industry has entered a relatively stable pattern, a high degree of industry concentration, industry leaders, the bargaining power the relatively more significant degree.
Xiao Zhang teachers: the US-led global economic slowdown and the appreciation of the yuan to accelerate the export of home appliances to further affect the demand for household appliances will substantially reduce export earnings?
Wang Nianchun: Judging from the first quarter, major exports of home appliances in North America are different degrees of decline, while in Europe, Latin America, increased exports to other parts of Asia, combined with the optimization of product structure adjustment, we believe that the overall export home appliances is certainly smaller than last year though, but not a big margin.
Wang steel: long-term appreciation of the RMB is expected to force the company to adjust its product mix to increase exports of high value-added ratio. At present, the area is too concentrated for export, the export structure is too focused on business customers should be avoided.
Xiao Zhang Teacher: changes in demand for household appliances in which the most worthy of attention this year, the state policy on the regulation of real estate will lead to slowdown in the second half of the demand of domestic appliances?
Wangnian Chun: We believe that consumption in 2008, driven by domestic demand growth in the most worthy of attention, industry, competition is no longer limited to the price level of competition. Consumer upgrades, driven by product performance, functionality and industrial design innovation more accessible to consumers, identity, brand consumer awareness is also improved significantly.
Wang Steel: domestic demand, rising income levels in cases where the family needs and durable consumer update frequency is speeding up, the overall industry demand growth will remain steady.
Xiao Zhang Teacher: domestic appliances valuation of listed companies is high compared with international peers? How to make home appliances companies for investment opportunities?
Wang Nianchun: PE value of more than international counterparts in between 15-18 times, but our main recommendation of the Gree, Midea and Supor dynamic in 2008, about 20 times PE value of around 2009, will further decline.
Wang Gang: We believe that China is the world's one of the fastest growing consumer goods, we should first select the products that are positioned to further expand the domestic market listed companies in foreign markets; other choice is the formation of a high degree of industry concentration situation of the sub-sectors, including leading companies to a higher market share growth; last business must have a good product differentiation and innovation. I am Components Electronic suppliers writer, reports some information about security wands , door metal detector.
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