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Zhejiang Meida ‘s advertising and promotion costs exceeded 200 million last year, and Q1 ‘s net profit was broken down by 70%

On April 16, Zhejiang Meida, a leading integrated stove company, released its 2019 financial report, showing a total operating income of 16.8.4 billion, an annual increase of 20.24%; achieve profit budget 5.3.4 billion, an annual increase of 20.31%; Achieve net profit attributable to shareholders of listed companies.600 million, an annual increase of 21.85%.According to preliminary estimates, the net profit in the first quarter of this year is expected to reach 70% -75%.  As an emerging category in the kitchen appliance market, integrated stoves have developed rapidly in recent years. The retail scale of integrated stove products increased by 25%, 48% and 44% annually from 2016 to 2018, the growth rate significantly exceeded that of range hoods and gas stoves, etc.The growth rate of traditional kitchen appliances.  The kitchen appliance industry is still sluggish in 2019, but integrated stoves have maintained rapid development as an emerging category in the kitchen appliance industry.According to the total data released by Zhongyi Kang, the retail volume of the integrated stove industry will reach 209 in 2019.80,000 units, retail sales reached 161.50,000 yuan, retail scale increased by 25% in ten years.  Specifically, Zhejiang Meida’s revenue from integrated stove products in 2019 was 15.1.1 billion yuan, accounting for 89% of operating income.70%; cabinet product income is 56.04 million yuan, accounting for operating income3.33%; other product income 1.1.8 billion yuan, accounting for 6.97%.The gross profit margin of kitchen appliances has always belonged to a higher category.53%, an annual increase of 1.99 averages.  Sauna, Yewang noticed, nesting, kitchen appliances enterprises are keen on advertising and marketing, implant publicity.The financial report shows that the company’s sales expenses in 20192.5.7 billion yuan, an increase of 66 compared with the same period last year.16%.This was mainly due to the increase in advertising and promotion efforts during the reporting period.Among them, the amount of advertising and promotion fees for 2019 is 2.0.8 billion yuan, accounting for 80% of sales expenses.91%.  According to Zhejiang Meida, the company has further increased its advertising and promotion efforts to expand the influence of the Meida brand.The company continued to place positional advertisements in CCTV’s authoritative high-end media, local TV media and outdoor anti-aircraft guns in key cities; it continued to name more than 20 national high-speed rail columns and placed large-scale LED advertisements in high-speed rail stations.At the same time, the company increased its promotion on new media platforms, such as portals and other new media platforms.  The epidemic will also affect the performance of integrated stoves.On the same day, Zhejiang Meida issued its first-quarter 2020 performance forecast. The report pointed out that the net profit attributable to it was 1883.700 thousand yuan – 2260.440,000 yuan, 7534 in the same period last year.800,000 yuan, an average of 70% -75% in ten years.  Zhejiang Meida explained that due to the impact of the new coronavirus pneumonia epidemic, the company ‘s upstream and downstream enterprises resumed work delays. Because the terminal market sales and installation activities could not be carried out normally, the company ‘s product production and sales did not meet expectations.With the gradual stabilization of the domestic epidemic prevention and control policy, the company’s production and operations have gradually returned to normal.The company will gradually recover the losses caused by the short-term impact through measures such as enhanced marketing.Reporter Chen Weicheng editor Sun Yong proofreading He Yan