1, Proya :
1, the main brand Proya has achieved the first place in domestic products on major platforms such as Tmall, Douyin , JD , Kuaishou, Pinduoduo and other major platforms. Tmall flagship store ranked fifth, with high double-digit growth in GMV, and an increase in unit price per customer and proportion of large items. In terms of the Douyin channel, due to the blessing of Douyin’s second store, the brand is growing at a good rate.
2, large single product strategy has been in operation for two years. It will take shape in 2020 and start focusing on two products: morning C and late A; in 2021, a matrix of nine large single products will be formed; in 2022, the large single product matrix will undergo a new round of subdivision, divided into long-term large single products and large traffic orders Taste. The long-lasting large items mainly promote repair, anti-aging, and sun protection series. The high-traffic items are a product pool that are often replaced and always new, such as bowling ampoules, facial masks, etc.
3. The company's R&D is reflected in its continuous investment. In 2022H2, the company will set up new R&D centers in Shanghai and Japan. The Shanghai R&D center is more focused on formula research, while the Japanese research center emphasizes basic research such as the development of raw materials, or functional solutions for customer skin problems. R&D of raw materials. In terms of cooperation model, the original model of external cooperation to purchase formulas is now more closely adopted through equity cooperation with leading research laboratories.
2. Market in the second half of the year:
has continued to emphasize in the near future that subsequent policies will continue to focus on consumption.
1. Consumption is the terminal of demand. Only when consumption achieves substantial recovery can the vitality of the economy be revealed. Stimulating consumption is a necessary strategy for the current economy.
2. In previous domestic economic recovery cycles, policies have also pursued "certainty". Currently, overseas countries are also facing economic recession. The effect of stimulating exports is limited and there is great uncertainty. The domestic urbanization rate has reached more than 60%, and the influx of large amounts of funds in the early stage has formed a large-scale stock asset in the infrastructure industry. Therefore, the current focus on the infrastructure sector is to revitalize rather than re-invest funds for stimulation. A number of In comparison, with the per capita disposable income of residents significantly higher than before, stimulating consumption is undoubtedly the most "certain" option at the moment.
3. Photovoltaics and lithium batteries:
1, New energy sector , the leading quotations of silicon materials, silicon wafers, and batteries have increased this week. In terms of segments, the supply of silicon materials has shrunk. Some manufacturers of silicon wafers have raised prices last week to support demand. The price increase has expanded this week, and unit profits have reached a new high. In the silicon wafer segment, although production capacity continues to expand, it is due to the increase in silicon materials. Due to supply constraints, effective supply and demand continue to remain good, and raw material price increases are successfully transmitted; in the cell segment, due to losses and iterative changes in technical routes, production capacity expansion has relatively slowed down, and downstream large-size has accelerated, and structural supply and demand have improved more significantly; components In terms of the link, the price of auxiliary materials fell this week, but the rise in battery cells was the main factor. The single link of components suffered serious losses, and the single link of domestic sales suffered single side losses. The integrated profit was also as low as about 0.03-0.04 yuan/W; the profit from overseas sales was acceptable. The integrated profit is about 0.13-0.15 yuan/W.
2. In the new energy vehicle sector, the strong demand has been verified in terms of production, sales and production scheduling. The Passenger Car Association estimates that retail sales in June will hit 500,000 vehicles, reaching a record high in a single month. The battery and material sectors have shown considerable month-on-month growth in the production schedule and guidance in June and July, which also indicates a further improvement in the prosperity in the second half of the year. It is judged that the third quarter is the best period for the sector this year, and the prosperity has begun a new round of acceleration. There is no need to worry about the periodic decline after the increase in volume at the end of the year and the supply inflection point in some subsequent links. The current battery price corresponds to 30 times next year's price, and the material price is generally around 20 times, so there is room for valuation improvement. It is recommended to prioritize the allocation of both ends of the battery and upstream resources. The valuation of the midstream material link has been adjusted back to a low level, and there are also opportunities for to gain absolute returns . In the near future, it is recommended to focus on the ternary industry chain where the cost difference has narrowed, as well as the anode link due to advances in fast charging and silicon carbon technology.
4. Ecovacs :
1. Self-cleaning sweeping robots have become a highlight. The new generation of floor scrubber 3.0 was launched during 618, accounting for 30% of GMV, and the proportion is expected to increase in the second half of the year. The industry mainly promotes self-cleaning.The company's 618 sales share is stable (accounting for 40% of the market share); Xiaomi has dropped significantly (the product is weakly competitive); Cloud Whale's share has dropped significantly (J1J2 is an old product and is expected to launch new products); Shitou's share has increased; Chai Mi's share has increased number of digits. Industry structure: 1. The concentration of manufacturers has increased; 2. Specialized manufacturers have greater opportunities, and the competitiveness of comprehensive manufacturers has not been reflected; 3. New products are highly attractive; 4. With prices above RMB 3,500, product sales have increased (moving towards self-cleaning, is an inevitable trend)
2, floor washing machine: Tianke is the only one, with the third-generation floor washing machine 618 accounting for 30% of sales. The product Fuwan floor washing machine is only targeted at the mid-to-high-end market, so there are opportunities in the low-end market. In the second half of the year, the company will consider the planning of low-end floor washing machines, which are significantly different from Fuwan.
3. In the self-cleaning robot market, the company is in the absolute leading position in the 3,000 and 5,000 price ranges. The 4,000 price range is the T10 OMNI and Roborock G10S (mainly due to friends selling them first).
4. In the first quarter, Ecovacs accounted for more than 20% of China’s domestic offline market, and Timco accounted for more than 40%. During the second quarter of the big promotion, the online proportion will be higher. During the 618 period, Timco's offline proportion was 20%, and 80% still came from online.
