Air-conditioning supply and demand booming domestic sales will increase

According to the procurement data of the air-conditioning and refrigeration market, the current sales of air conditioners are hot. In view of this situation, we have recently investigated Qingdao Haier, Midea Electronics and Gree Electric Appliances. The survey results show that at present, domestic air-conditioning manufacturers continue to reach full production. In the next few years, air-conditioning is expected to continue to be the largest household appliance category.

According to the survey, from the fourth quarter of last year to now, air-conditioner production and sales have been booming, channel inventory is normal or low, and the rural market has endogenous growth. We have accordingly increased the assumption of endogenous growth of air-conditioners. In the absence of a decline in the number of commercial housing transactions, we expect that the growth rate of domestic air-conditioning sales in 2011 will increase from 10% to 16%.

The analysis of experts in the air-conditioning and refrigeration market believes that the endogenous reasons for sustained domestic sales of air-conditioners have a lot to do with the contribution of China's tertiary markets, especially the rural market. In the strategy report at the end of last year, we estimated that rural air-conditioners are expected to approach 20 units/hundred at the end of 2010 and account for more than 20% of total sales, which is similar to the rapid pre-opening of refrigerators from 2005 to 2006. In the next 1-2 years, Enter the rapid popularity period. This forecast is gradually confirmed in our research. Gree's regional sales companies reported that the 3rd and 4th markets are the main driving force for growth in 2010; Midea believes that the air conditioner industry may have the fastest growth in 2011; we surveyed the 2nd and 3rd tier distributors in Jimo County, Shandong, two weeks ago. Air-conditioning is expected to continue to be the largest household appliance category in the next few years, with a year-on-year growth rate of 70% in 2010.

From the aspect of export, in the fourth quarter of 2010, Chinese enterprises' export of air-conditioner orders to Europe and the United States has shown rapid growth. Among them, it is obvious that European importers make up the inventory, and the recovery of US air conditioning orders is also very significant.

For Qingdao Haier, there are three highlights in 2011: In addition to day and night, more group assets have entered the listing platform, air-conditioning market share continues to increase, the middle and low terminal brand "commander" integration no-name market share. In addition, the trend of Haier Group's penetration into the electrical distribution business of the downstream three or four-tier market has become increasingly clear.

For Midea, the company once again emphasized five years of revenue doubling plan, optimistic about the domestic sales potential of home appliances, and continued to strengthen the channel integration of refrigerators and washing machines. At the same time, a clear globalization strategy has been established. The soft power to manage replication, mergers and acquisitions is the global The powerful guarantee of expansion.

As far as Gree is concerned, the company developed its own new fixed-speed and variable-frequency compressors in 2011. The U-series and I-series miniaturized air conditioners developed based on new compressors are stylish and cost-effective, which helps to ensure the air-conditioning industry. Leading market position and higher profitability. Due to tight production, orders from Europe and the United States resumed, and export gross profit margin is expected to rebound.

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