On April 22, smart hardware company Stone Technology released its performance report for 2021 and the first quarter of 2022: In 2021, the company achieved total operating income of 5.837 billion yuan, a year-on-year increase of 2.884%; net profit attributable to the parent company was 1.402 billion yuan, with a compound growth rate of 84 in the past five years. Looking at a single quarter, in the first quarter of 2022, Stone Technology achieved revenue of 1.36 billion yuan and net profit attributable to the parent company of 343 million yuan, both increased compared with the same period last year.
Multiple challenges continue, but corporate revenue still meets expectations
From a revenue perspective, Stone Technology’s growth rate performance is in line with market expectations, and domestic sales of G10 have driven a significant increase in share. In the domestic market, the sweeper industry is still booming. Aowei Cloud data shows that the total sales of online sweepers in Q4 2021 increased by 32% year-on-year, among which the stone brand increased by more than 106% year-on-year.
The overseas market is even more promising. The financial report shows that Stone’s overseas revenue in 2021 is 3.364 billion yuan, with a revenue growth rate of more than 80%.
In fact, Stone Technology’s overseas business expansion in the past year has not been smooth. The company once revealed in a performance report that due to adverse factors in 2021, global shipping capacity will be tight, and more containers will be stranded at ports. Situations such as ships jumping into ports and poor transportation cycles have a certain negative impact on corporate revenue growth.
However, Stone Technology also revealed that: through active strategic adjustments, the company increased investment in R&D expenses and sales expenses and launched high-profile products, combined with active marketing and publicity work, it finally achieved good results. Market feedback has prompted the company's total operating income to continue to grow.
According to other news, Roborock Technology has released the S7MaxV series (sweeper), mid-range cost-effective Q7Max (sweeper) and floor washing machine products overseas. It is also expected that the volume will increase significantly in the second quarter of this year to help overseas the continued development of the market.
It is worth noting that in 2021, the growth rate of Stone’s own brand will exceed 40%, and the sales proportion will further increase to more than 98%. This means that the stone brand is favored by more and more users, and the brand has basically achieved independence. Combined with its frequent launch of multiple categories and new products for market exploration in the past year, the company's mid-to-high-end strategy is also more clearly visible.
At the same time, the revenue of Stone Technology in the past five years has increased from 1.119 billion yuan to 5.837 billion yuan, with a compound growth rate of 40, and the compound growth rate of net profit attributable to the parent has reached 84, a high double digit The compound growth rate of the number naturally highlights its high-quality growth capabilities.
Continue to increase investment in research and development, and launch a number of mature products in 2021
The management of Roborock has said that “only continuous innovation can become a long-term moat.” Innovation is probably the key to Roborock Technology’s success The key factor for continuous growth.
In order to cope with fierce market competition, the company has continuously increased investment in research and development and technological innovation in recent years. The financial report shows that Stone Technology invested 193 million yuan, 263 million yuan and 441 million yuan in research and development expenses respectively from 2019 to 2021, showing a high growth trend.
At the same time, the company has also continuously improved its self-research capabilities by recruiting R&D talents. It is reported that Stone Technology currently has 555 R&D personnel, accounting for 58.29% of the total number of employees, and will obtain 270 new domestic and overseas authorized patents in 2021, a record high.
The most direct result of the continuous investment in research and development expenses for Stone Technology is the new generation of products. In 2021, the company successively launched the G10 and T7S series of intelligent sweeping and mopping robots and the U10 series of floor scrubbers, as well as commercial cleaning robots to provide intelligent cleaning services for the 2022 Beijing Winter Olympics venues. Around March 2022, the company launched two new products in the T8 and G10S series respectively, completing the company's layout of mid-range self-dust collection and high-end all-round base station products.
The current market demand for cleaning is still strong. According to the data tracking of JD.com and Taoxi platforms, in March this year, the combined sales of floor washing machines on the two major platforms increased rapidly by 10.06 to 400 million yuan, and the sales of sweeping robots grew steadily. 1.13 to 630 million yuan. Among them, stone sales continued to lead, with a total GMV of 130 million yuan, a year-on-year increase of 72.1%, revealing a high degree of prosperity.
As an industry leader, Stone Technology has indeed managed to maintain stable and increasing performance in the fierce industry competition, showing strong tenacity and potential. As the demand space continues to be released, Tianfeng Securities predicts that in 2022, Stone Technology is expected to continue to invest in sales and research and development expenses, continuously improve products, expand brand awareness, and at the same time superimpose product structure upgrades, and its operating performance will continue to improve.
This article comes from China Economic Net