On July 2nd, Vantage shares (SZ002035) opened at a near-limit limit. Although it had rebounded several times in the middle, it finally closed at the limit. Vantage's down limit occurred under three backgrounds: 1. The Beijing-Tianjin agent lost contact, 2. The French team advanced to the World Cup 8 and 3. The A-share market plummeted. On the same day, the Shanghai Composite Index (SH000001) fell more than 2%, and home appliance stocks plummeted across the board. Among them, Little Swan A (SZ000418) fell, and Midea Group (SZ000333) and Gree Electric Appliances (SZ000651) all fell sharply. On July 3, Vantage shares continued to fall 1.55%. The analysis believes that the global financial market was bleak on Monday, related to Trump’s previous threat to withdraw from the WTO. Some media reports said that on June 30, US President Donald Trump suggested that the United States might withdraw from the World Trade Organization (WTO). What some people are puzzled is that the stock price has plummeted. Why is the media and the public more willing to focus on Vantage? In fact, during this time, Vantage has been "watched by the whole people" and even became the second focus of the World Cup. Just because of the concern, on the day of the French team's promotion to the top 8 on June 30, investors worried: If Vantage “free of charge†becomes a fact, will it affect Vantage's performance throughout the year? Just when the question has not yet been answered, the incident of the loss of the Huadi Beijing-Tianjin agent occurred. So, immediately on the Internet there is such a statement: "Winning a refund to scare away dealers" "France has not won the title of Vantage shares in the hands of their own people" "Vatican directly collapsed the entire home appliance sector." What is the truth? Vantage said: the agent incident was misunderstood On July 2nd (Monday), a number of media reported on the announcement of the Second People's Court of Zhongshan City, Guangdong Province on June 29 (Friday), claiming that the court ruled that the assets of Huadi Beijing Tianjin Agent were seized. The first feeling of people is: "Vader has an accident." On the same day, Vantage issued a statement stating that the incident was caused by the personal misconduct of the dealers in Beijing and Tianjin, and had applied to the court for the first time to seal the case, while ensuring that the interests of consumers and all market work continued as usual. However, the rumors of Vantage’s “winning the refund and scaring away the dealer†are still gone, and quickly spread throughout the network. Strange, how can a company “sell the title and avoid the order†to scare off the agent? What is the relationship between Vantage’s activities and agents? Tracing back to the source, we have to start from the World Cup marketing campaign of Vantage, the French team won the championship and the Vantage retired. On May 31, Vantage released a full-page advertisement in the Southern Metropolis Daily, directly publishing the statement that the “French team won the championship and the Vantage returned the full payment†signed by the chairman, which is equivalent to making an open and formal commitment to the society. Namely: If the French national football team wins the World Cup in Russia in 2018, all consumers who purchase the Vantage "winning package" during the period from 0:00 on June 1, 2018 to 22:00 on June 30, 2018, will win the championship according to the purchase. Package" product invoice amount refund. Among them, the online "winning package" is a combination of two sets of smoke stoves: one set is a deep cavity flashing smokeless smoke machine with a model of 11089 + a left-cooked, right-explosive cooker with a model of 10046B, one set is model number 11090 The sliding screen does not leave the smoke machine + model number 10042B five-speed fine control 4.5Kw large fire stove, the two sets are Vantage main products. The original event was scheduled to end at 22:00 on June 30. The news that the French team defeated the Argentine team and became the top 8 came. Vantage announced that the event would be extended for another three days to end at 22:00 on July 3. The activity is divided into two parts, the online company is responsible for the online free of charge, and the dealer is responsible for the offline. Considering the freedom of choice of consumers, customers who purchase Vantage's “winning package†can choose to participate in the “winning the full refund†campaign, or they can give up this right in exchange for the relevant gifts. With the progress of the World Cup, Vantage's “winning the title and exemption†campaign has not been reduced, and has even become a public topic. At this time, the Beijing-Tianjin dealer lost contact incident, it is easy to trigger public association: Is it a disaster? Vantage said that the agent incident was a public misunderstanding, and the reason for misreading was precisely related to the concern of Vantage during the World Cup. Five details reveal the truth of the Vantage agent incident Some media quoted analysts as saying that "the high inventory of kitchen appliances is the first cause of the agent's departure." Is that right? Vantage said that personal turnover is the root cause of the incident. It is said that the dealers of Huadi Jingjin area have long relied excessively on preferential policies such as sales package. After the cancellation of a special sales policy in 2017, Vantage failed to adjust its business ideas in a timely manner, the channel construction was slow, and the product sales structure was unreasonable, resulting in slow shipments. Inflict a certain size of inventory. Vantage discovered the clues earlier and intervened. On the afternoon of June 21, after the dealers shut down and lost their contacts, Vantage immediately realized the seriousness of the problem, immediately entrusted the transfer of the transfer to the Beijing and Tianjin companies, and dispatched the marketing team to the docking work in Beijing, while mobilizing the third-party service company to maintain The stability of after-sales service. Therefore, the "court seizure" of the net transmission is actually the ruling of Vantage for the company's property to take the initiative to apply to the court. After comprehensively considering the unfavorable situation of many parties, Vantage actively requested the court to carry out asset preservation and conduct sealing operations on five large warehouses. Because the incident occurred during the World Cup, the French team’s call to win the championship was very high, and the result turned into a homeopathic transfer of hot events. It can be seen that Vantage called "the whole network onlookers" eventually contributed to the fact that the incident was misinterpreted as an objective expression. However, I still draw your attention to the following details, which may be helpful to your judgment of the truth: 1. Vantage took the initiative to apply to the court to seal up the assets of the agent. 2. Vantage conducted an inventory of the personal assets of the agents, judging that the fixed assets of the real estate and office buildings can completely cover their debts, and there is no possibility of bankruptcy. 3. The dealer did not reduce assets before the loss of the joint venture, nor did it have any behavior to take away the assets. Therefore, it was concluded that the loss of the joint was to avoid the pressure, rather than intentionally evading the debt. 4. The agent's mentality is not positive, there is resistance to the headquarters, and reluctance to embrace change, resulting in slow market development in the region. Since the second quarter of this year, Vantage has suspended shipments to the Beijing company and has not conducted a mission assessment of the dealer. 5. A detail worthy of attention is: In addition to Vantage's kitchen and electric business, the agent is involved in a number of other investments, and most of them are not well-run, resulting in problems with capital turnover. How should Vantage’s “free-to-single†marketing account? As mentioned above, the event Vantage is only responsible for online free orders, and the offline sales exemption is the responsibility of the dealer. If the French team wins the championship, how much money does Vantage have to bear for this event? According to the statistics of Vantage, as of July 2, the scale of the online free choice is about 30 million yuan, and the sales scale of the offline champion package is about 100 million yuan. Since the deadline for the event has been extended for three days, considering the fact that many people are rushing to the French team to win the championship on the last day of the event, it is estimated that the sales scale of the online free-sale package should be around 40 million yuan. In other words, if the French team really wins the championship, Vantage will have to pay a loan-free amount of about 40 million yuan. What is the concept of 40 million yuan for Vantage? According to the data released by Vantage's 2017 financial report, the business publicity expenses for the year were 566 million yuan. In other words, the 40 million free-to-order scale accounts for about 7% of Vantage's 2017 business promotion fee. This is a low ratio. The question is: for the World Cup marketing 40 million yuan of publicity fees, worthless? Seeking truth from facts, this is a question without a standard answer. However, there is a reference to everyone can see: Hisense is the official sponsor of the 2018 Russia World Cup, in order to qualify for this sponsor, Hisense paid a price of 100 million US dollars, about 660 million yuan. The value is not worth seeing the effect. From the domestic public and media attention, due to the outstanding performance of the French team, the public and the media's attention to Vantage is not lower than Hisense. What is the highest level of marketing? It is a public topic. When a marketing event becomes a public topic, the public does not consciously implement the dissemination of the subject in the process of attention and discussion. This is exactly the case with Vantage. I even think that Vantage's marketing activities around the World Cup are enough to be a classic case in the 2018 China marketing event. Why did the only Vantage became a topic for the World Cup "free of charge"? In the past two days, the stock price has fallen sharply, not to the Vantage family. Why is Vantage alone a topic? This is an interesting phenomenon in itself... It can be asserted that if the French team "unfortunately" wins the championship, Vantage will surely fulfill the promise, and naturally there will be a new round of communication. As long as it spreads, it is valuable to the enterprise. Let's just say that the French team won the championship, which is the brand effect for Vantage; the French team does not win the championship, which is the promotion effect for Vantage. Therefore, the capital market must learn to settle accounts, and it is necessary to look at the wind. Is there a problem with the kitchen appliance industry? The answer is: the kitchen appliance industry is very healthy Statistics from statistical agencies show that from January to May this year, the domestic sales of range hoods was 14.5 billion yuan, down 8% year-on-year; the domestic sales of gas stoves was 7.9 billion yuan, down 3.6% year-on-year; the domestic sales of disinfection cabinets was 1.8 billion yuan. The decline was 5.3%; the domestic sales of dishwashers was 1.7 billion yuan, a year-on-year increase of 29.8%, which was also lower than previously expected. According to this, it is believed that the rapid and steady growth of the Chinese kitchen appliance industry over the years is gone. Rationally, we are not currently able to draw long-term conclusions based on short-term data. On the contrary, I tend to believe that in the next five years, the Chinese kitchen appliance industry will continue to maintain rapid and steady growth, and the kitchen appliance industry is still the most promising home appliance market segment in China. My conclusion is based on a basic premise: At present, kitchen appliances are the industry with the lowest household ownership rate among all household appliances, which is the opportunity. According to statistics provided by statistical agencies, in 2017, the total revenue of the entire Chinese kitchen appliance industry was about 97 billion yuan. What is the concept of 97 billion yuan? That is to say, the kitchen appliance industry, including hoods, stoves, sterilizers, dishwashers, embedded products, etc., has an overall revenue scale that is less than half that of a single air conditioner. In 2017, the revenue of China's air-conditioning industry was about 280 billion yuan. At present, the air-conditioning ownership rate of urban households in China exceeds 200% (each household has more than 2 air conditioners), and there are many air conditioners installed in rural households. Kitchen appliances and air conditioners are similar, and their dependence on the regulation of the real estate market is roughly equivalent. However, in the air-conditioning industry, where market saturation is much higher, in the eyes of Dong Mingzhu, chairman of Gree Electric Appliances, there is no such thing as a “ceilingâ€. There is still much room for development in the future. In this case, the kitchen power industry, which has a much lower penetration rate, has come to the conclusion that it is “slowed by the influence of real estate regulationâ€. This is obviously not logical. A short-term market correction should not be seen as a long-term trend. I tend to think that the overall size of the Chinese kitchen appliance industry is between 25 and 300 billion yuan, which is reasonable and stable. Regular GFCI Receptacle Outlet Lishui Trimone Electrical Technology Co., Ltd , https://www.3gracegfci.com
