Haier 2009 Annual Report Download - page 26
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BUSINESS REVIEW 業務回顧
HAIER ELECTRONICS GROUP CO., LTD ANNUAL REPORT 2009
24
31.5%
25.8%27.1%
148,000,000
164.9%392,000,000
1.8%
4.3%
S-e
S-e15
According to the market research reports of China Market Monitor
(one of the China-based market research companies) in 2009, in terms
of sales volume, the Group’s washing machines had a market share of
31.5%, continuing to rank No. 1 in the market. Growth in the revenue
from the local market was largely attributable to deep penetration in
the 3rd and 4th tier markets with improving sale, logistics and service
networks as the Group leveraged the favourable governmental “Rural
Area Subsidized Electrical Appliances Purchase Policy” and “Home
Appliances Replacement Policy”.
By optimizing product mix, developing premium and high value-added
products, strengthening cost control and maintaining low inventory level
so as to benefit from the decrease of raw materials prices in the market,
the gross profit margin of the washing machine business increased from
25.8% in 2008 to 27.1% in 2009. Operating profit from the washing
machine business increased by 164.9% from RMB148 million in 2008
to RMB392 million in 2009, while the operating margin increased from
1.8% in 2008 to 4.3% in 2009.
In 2009, the Group aggressively implemented the modular lean
manufacture of washing machines by stringently standardizing and
modulating each process of planning, development, procurement and
manufacture such that procurement costs were reduced and assembly
efficiency was enhanced.
In light of its user-oriented service philosophy, the Group kept tapping
on new demands to inspire its product innovation and continuously
create new markets. In response to the complaints of users about
washing machine noises and vibrations, Haier launched in 2009 the
Casarte duplex large-cylinder front loading washing machines with a
“S-e double-balanced ring”, breaking the balance technology bottleneck
in the washing machine industry that persisted over long time. These
washing machines were selected by more than ten property companies
in China like Wanda and Greentown as the first choice of premier
ancillary home appliances for high-grade residential property projects. The
“S-e double-balanced ring” technology has successfully obtained 15
important patents, of which three are international patent for invention
kept by China Science and Technology Museum.