Skyworth push VR new brand exploration Behind the development of diversified development: the sales volume of the main products declined, the new coach Lin Jin picked 100 billion yuan in heavy weights

Picture source: Oriental IC

Recently, Skyworth VR, a subsidiary of Skyworth Group's VR/AR industry subsidiary, released a new brand PancakeXR, and at the same time released Pancake 1, the first -generation short -focusing machine product of the PancakexR brand.

Skyworth layout has been in the field of VR for 7 years. With the popularity of the Yuan universe, AR/VR headset equipment has grown rapidly. However, it is worth noting that many people in the industry said that the relevant concepts of the Yuan universe are still at the stage of imagination, and the market may gradually restore rationality.

For Skyworth Group, the layout of VR is considered a move to explore diversified development. At present, its main product TV system is facing the dilemma of sales and gross profit margin. In 2017, Lai Weide, the former chairman of Skyworth Group's board of directors, proposed the 5 -year transformation and upgrade strategy and the target of 100 billion yuan in revenue. To this day, the target of 100 billion yuan has achieved only half. It is less than 10%.

At this moment, Skyworth Group ushered in new handsome. In July of this year, Lin Jin, the son of the founder Huang Hongsheng, replaced the post of chairman of Lai Weide's board of directors. When Lin Jin could lead Skyworth Group to achieve 100 billion yuan revenue, it still took time to give the answer.

VR hardware manufacturers are fiercely competitive, Skyworth VR products are not among the best -selling listing

According to the information revealed by Skyworth, Skyworth has begun to deploy the VR field since 2015. In May 2017, Shenzhen Skyworth New World Technology Co., Ltd. (hereinafter referred to as "Skyworth New World") was established. In 2021, Skyworth VR entered the C end.

So far, Skyworth VR has released a variety of VR products, such as Skyworth V901, Skyworth S6 and so on. As of the end of 2021, Skyworth VR had shipped more than 100,000 units to many countries at home and abroad. Its products have been applied to B -end fields such as VR Medical, VR Education, VR Cultural Tourism.

Many people in the industry said that the Yuan universe is one of the hot topics that the public and the media focus on in 2021, and the AR/VR headset market broke out again. According to IDC data, the global AR/VR header showed 11.23 million units in 2021, an increase of 92.1%year -on -year, of which the VR header showed 10.95 million units. Although this data exceeded the important inflection point of the industry with an annual shipment of 10 million units, the Oculus share alone reached 80%.

Since May 2021, domestic VR manufacturers have launched new products successively, and the iterative rhythm has accelerated significantly. Among them, Pico Neo3, adventure VR series, and NOLO SONIC are models with a larger online e -commerce platform in 2021.

In the first quarter of 2022, the global VR header shipped 3.563 million units, of which Oculus share accounted for 90%of the global VR market. China's VR header shipping was 257,000 units, an increase of 14.8%year -on -year, of which 228,000 units were shipped by all -in -one VR, accounting for 88.9%of the overall VR shipment. The first three product models.

However, it is worth noting that Tsinghua University's "2020-2021 Yuan Cosmic Development Research Report" shows that because the Yuan universe industry is still in the initial development stage, it has the characteristics of immature and unstable emerging industries. Top ten risks such as rolls in the industry, industries and markets need to return to rationality.

On the other hand, the terminal entrance is a must -have, and the competition for hardware manufacturers is more intense. IDC analysis said that local manufacturers coexist in the opportunity and challenges in special periods: the current hardware head display product price is basically near the cost price, and manufacturers urgently need to form a stable profit model under their own characteristics under the new air outlet; For applications, consumers' continuous consumption momentum is significantly insufficient. The second -hand market circulation trading will affect the sales of official sales channels and form a bad cycle. Most of the strong attractive applications in VR are non -free applications. There are differences in the habit of buying the game.

Since 2021, the action pace of relevant manufacturers has accelerated, and a new round of competition has begun. It is still unknown whether Skyworth VR, which has not won the best -selling models from best -selling brands such as Pico and adventure.

OLED TV's share in the entire TV market is less than 1%, and the sales of Skyworth TV system continue to decline

The information of Tianyancha shows that Skyworth World's major shareholders are Shenzhen Skyworth Digital Technology Co., Ltd. (hereinafter referred to as "Skyworth Digital Technology Limited"), and the shareholding ratio is as high as 99%. Skyworth Digital Technology is a wholly-owned subsidiary of Skyworth Digital. The controlling shareholder of Skyworth Digital is Shenzhen Skyworth -RGB Electronics Co., Ltd., and Skyworth's main product Skyworth TV is the product of Shenzhen Skyworth-RGB Electronics.

VR hardware is considered by industry insiders to be a step for Skyworth Group's exploring diversified development. From the perspective of revenue contribution, Skyworth TV system products are revenue. However, in recent years, Skyworth TV system has begun to decline in sales.

The first is that the entire color TV market is in a state of downturn and insufficient demand. The analysis of Ovi Cloud Network (AVC) believes that the main reason for the sluggish performance of the Chinese color TV industry in 2021 is "highly saturated".

According to data from AVC (AVC), in 2021, for the Chinese color TV industry, it is undoubtedly a difficult year. The market retail volume has reached the lowest in 12 years, falling below the 40 million mark to 38.35 million units, a year -on -year decrease of 13.8% Essence For color TV companies, it can be said that it is difficult to increase. Under the dual pressure of scale and profit, the scale of Chinese color TV retail sales in 2021 reached 128.9 billion yuan, an increase of 6.6%year -on -year. In order to cope with the development of the scale of the scale of the Chinese market, Skyworth Group adjusted its sales strategy in 2021 and transferred the focus to high -end TV products such as OLED. However, although the sales growth of high -end TV products such as OLED has driven the average sales unit price to increase, the overall sales still recorded a 5.9%year -on -year increase, but sales in the Chinese mainland market decreased by 15.9%year -on -year.

Under the influence of the epidemic, the weak growth and insufficient consumer demand make the color TV industry in the stock stage more difficult. According to the overall channel of Ovi Cloud Network (AVC), the Chinese color TV market in the first half of 2022, the scale of omni -channel retail volume was 16.72 million units, a decrease of 6.2%year -on -year; The double decrease of the color TV industry in the first half of the year has become a foregone conclusion.

Since the beginning of this year, Skyworth TV system sales have fallen again, and the overall sales in the first quarter have fallen by 18.3%, of which the Chinese market sales have fallen by 6.6%. On the other hand, the OLED TV category focusing on Skyworth's current layout is still low in the entire TV market, and there have been signs of decline this year.

Under the competition, the head gathering effect is significantly strengthened. In the first half of 2022, according to RUNTO data, 8 major domestic brands, namely Xiaomi, Hisense, TCL, Skyworth, Changhong, Haier, Konka, Huawei, Xiaomi (including Redmi) in the first half of 2022 2022 Nearly 23%, the three major brands of Hisense, TCL, and Skyworth shipped a total of 8.17 million units in the first half of the year, and the consolidated market accounted for nearly 50%.

From this point of view, Skyworth is not only facing the competition brought by the old color TV companies Hisense and TCL, but also under the pinch of technology companies Xiaomi and Huawei.

In the first quarter of 2022, the net profit fell more than 40%, and the new coach picked 100 billion yuan in heavy weights

Not only the main business has a decline in sales, but the performance of the entire Skyworth Group has also begun to take pressure.

Skyworth Group proposes that in 2022, it has accelerated the transformation and development years, including the transformation of manufacturing to modern service industry, hardware to software, and terminal products to intelligent systems. Skyworth Group said that it stabilizes its position in the home appliance industry and creates a brand reputation. At the same time, the diversified innovation growth of photovoltaic business, venture capital business, industrial park development and logistics business.

However, in the past two years, the net profit growth of Skyworth Group has begun to show signs of decline. In the first quarter of 2022, the net profit of Skyworth Group even showed a sharp decline in more than 40%.

In 2017, Lai Weide proposed the 5 -year transformation and upgrade strategy of Skyworth Group and the target of 100 billion yuan. Five years have passed. Although the revenue structure of Skyworth Group has changed significantly, the dependence on the TV business has gradually become smaller, the 100 billion target of Skyworth Group has not achieved.

Based on the data disclosed in the 2021 financial report, Skyworth's current business is mainly divided into including multimedia business, intelligent system technology business, intelligent electrical business, new energy business and modern service business. , 8.05%, 7.72%.

At the end of 2021, Skyworth split the Black Power business to be separated from the market. The STDs' GEM listing application was accepted and is currently inquiring. A number of people in the industry said that the current demand for the home appliance market is weak, and the influence of rising raw material prices and other factors, whether it is the best time to list the plan to go public at this time, is yet to be questioned.

The rapid development of the photovoltaic business of Skyworth Group brings high profits. The company's new energy business (mainly photovoltaic business) revenue in 2021 was 4.101 billion yuan, an increase of 3843.3%year -on -year. 7.86%.

On the other hand, the reporter noticed that in recent years, the gross profit margin of Skyworth Group has continued to decline. The gross profit margins from 2019-2021 were 20.1%, 17.9%and 16.8%. The interest rate was 16.4%, a decrease of 0.6 percentage points from 17%in the same period last year.

In the 2021 annual financial report and the first quarter report of 2022, the reasons for the decline in gross profit margin, Skyworth Group mentioned that new businesses such as photovoltaic products are in a rapid development stage, and the gross profit margin is relatively lower than the group average.

Just as the sales of TV systems declined, the foundation of Chuangwei electricity was still in the process of listing, and the proportion of photovoltaic business revenue accounted for less than 10%. Skyworth Group officially ushered in coach on July 7, and Lin Jin, the son of the founder Huang Hongsheng, took over the position of the chairman of Lai Weide's board of directors.

38 -year -old Lin Jin is a director of many subsidiaries of Skyworth Group, including Shenzhen Kaikai Network Technology Co., Ltd. and Skyworth. Then the new commander just took office, when can Lin Jin lead Skyworth Group to achieve 100 billion yuan in revenue?

- END -