Yichang shares VS reed design reed design focuses on the design itself.
—— Yichang's operating income far exceeds Rhett's design.
From the perspective of operating income, the operating income of Yichang Co., Ltd. in the first half of 20 15-2020 far exceeds that of Reed Design. Since 20 16, the operating income of Yichang Co., Ltd. has reached a peak of 5.754 billion yuan in recent years, and it has shown a downward trend in the following years. In 20 19, Yichang realized an operating income of 35150,000 yuan, a year-on-year decrease of 28.26%; The main reason is that the company's industry has the characteristics of high degree of marketization and fierce competition in product homogenization. At the same time, the market share of the downstream home appliance industry is gradually approaching saturation, the power of the consumption engine is insufficient, and the profit margin of the company's main business is compressed.
However, the operating income of inspirational design showed a stable trend, but it showed a downward trend in 20 19. In 20 19, the company realized an operating income of 98 million yuan, which was 27.92% lower than that in 20 18, mainly because in order to improve the company's professionalism, the company began to focus on advantageous industries, develop in depth into industries, and strategically reduce customers in non-advantageous industries. Affected by the market environment and the development cycle of the industry, the business needs of space design of expressway service areas and design services of entrepreneurial companies have been greatly reduced. During the reporting period, the sales of commercial exhibition furniture business dropped sharply, the demand for exhibition furniture orders from major customers of the company for newly opened stores dropped sharply, and the demand for terminal store props from clothing customers dropped rapidly. The company's newly developed customer product orders are still in the process of proofing, which failed to form operating income.
—— Ryder Design's net profit trend is relatively stable.
From the perspective of net profit, the net profit of Yichang shares fluctuates greatly; The annual net profit of 20 18 is-8140,000 yuan, which is due to the high degree of marketization of the industries the company belongs to and the fierce competition for product homogenization. At the same time, the market share of the downstream home appliance industry is gradually approaching saturation, the power of the consumption engine is insufficient, and the profit margin of the company's main business is compressed. In addition, the company also accrued a large number of asset impairment losses in 20 18. In 20 19, Yichang's net profit turned from loss to profit and remained profitable in the first half of 2020.
The net profit of inspirational design in the first half of 20 15-2020 showed a steady trend, and the net profit in 20 19 was-0.10.8 billion yuan, down 18.63% year-on-year. The main reason is the decline in operating income, while the cost is relatively fixed, without a corresponding decline.
-Reed Design gross profit margin far exceeds Yichang shares.
From the perspective of gross profit margin, Yichang's gross profit margin remained between 5%- 12% from 2065438 to the first half of 2020, and its profitability was average; The gross profit margin of Reed Design is maintained at 27%-43%, and its profitability is good.
Yichang shares fluctuated in the first half of 20 15-2020, and then rose to 20 19 after falling to a low point on 20 18. 10.45% is the automobile business, especially the gross profit margin of automobile structural parts increased by 26.18 compared with 20 18, thus
The gross profit margin of Ryder Design in the first half of 20 15-20 18 also showed a fluctuating trend, rising year by year, reaching 40.28% in 20 18 and dropping to 27./in 20 19.
-Reid's design tends to finance. Yichang shares favor debt financing.
From the perspective of asset-liability ratio, Yichang shares have a good asset-liability ratio and creditors bear higher risks; Reid's design is just the opposite, and the asset structure is biased towards financial financing.
From the trend, Yichang's shares remained between 60% and 87% in the first half of 20 15-2020, but showed a downward trend in the last two years. 20 18 began to choose to reduce the impact of debt on enterprises and began to use financial financing and other means; Explain that the company has adjusted its asset structure and moved towards a good asset structure. However, Reid's design has always used financial financing. In recent years, the asset-liability ratio has shown a slow downward trend, and it is only 18. 16% in 20 19 years.
-Reid designs a broader overseas market.
From the perspective of sales area, Yichang Co., Ltd. and Reed Design mainly focus on the domestic market. In 20 19, Yichang realized domestic operating income of 33170,000 yuan, accounting for 94.36% of the operating income of that year; The overseas market realized operating income of 65.438+0.98 billion yuan, accounting for 5.64%. In 20 19, reed design realized domestic operating income of 90 million yuan, accounting for 91.42% of that year's operating income; The overseas market realized operating income of RMB 08 million, accounting for 8.58%.
-Yichang Co., Ltd. spends more on R&D than Reed Design, but the proportion of operating income is not as good as Reed Design.
From the perspective of R&D expenditure, although the R&D expenditure of Yichang Co., Ltd. exceeds that of Reed Design, its proportion in operating income is not as good as that of Reed Design. On the whole, the R&D expenditure trends of Yichang and Reed Design are just the opposite; Yichang's R&D expenditure shows a downward trend year by year, while inspirational design shows an upward trend year by year, indicating that inspirational design pays more attention to R&D year by year.
In 20 19, the R&D investment of Yichang Co., Ltd. decreased by 42,096,600 yuan compared with the same period of last year, mainly due to the decrease of direct investment of the company by 45.26%. In 20 19, the expenditure on reed design and research and development increased by 1788900 yuan compared with the same period of last year, with an increase of 3 1.94%. Mainly, the company began to lay out the design+product model, increased R&D investment, used the company's strong R&D design ability to seize the market demand, and developed three core products: professional beauty refrigerator, kitchen air conditioner and intelligent electric towel rack.
For more data, please refer to Foresight Industry Research Institute's China Industrial Design Industry Development Model and Prospect Forecast Analysis Report.