In late August, the construction and ceramics world was turbulent. Major listed companies announced their first-half financial reports one after another, and the big moves of leading companies also surfaced one after another. What changes does this information foreshadow the industry structure in the second half of 2021?
01
Mona Lisa
Achieve revenue of 3.08 billion yuan
A year-on-year increase of 72.33%
On August 25, Mona Lisa Group released its 2021 semi-annual report. The announcement shows that operating income in the first half of 2021 was approximately 3.08 billion yuan, a year-on-year increase of 72.33%; net profit attributable to shareholders of listed companies was approximately 282 million yuan, a year-on-year increase of 30.3%. In terms of products, the revenue of porcelain glazed tiles was 1.921 billion yuan, accounting for 62.36%; the revenue of non-porcelain glazed tiles was 407 million yuan, accounting for 13.23%; the revenue of ceramic plates and thin ceramic tiles was 407 million yuan, Accounting for 13.22%; porcelain unglazed tiles revenue was 261 million yuan, accounting for 8.47%.
Mona Lisa’s semi-annual report also pointed out that as of June 30, 2021, Mona Lisa had 1,458 contracted dealers, 2,588 specialty stores, and 4,297 specialty stores and sales outlets; and it has cooperated with many TOP real estate companies It has formed extensive and in-depth strategic cooperation and established sustained and stable strategic cooperative relationships with Country Garden, Vanke, Poly, China Shipping, Jinke, China Jinmao, Shimao, etc. At the same time, it has strengthened cooperation with core Internet home decoration companies and continuously expanded new sales channels.
Reasons for performance growth: Compared with the same period last year, Mona Lisa summarized the main reasons for the significant growth in operating income in the first half of the year. First, the three intelligent production lines in the first and second phases of the Guangxi Tengxian production base and the three special high-performance ceramic plate production lines of the Guangxi Xiqiao production base were successfully put into operation. The acquisition of 9 production lines at the Jiangxi Gaoan production base was successfully put into operation. The release of production capacity boosted sales development. Second, the strategy of sinking distribution channels has driven the rapid growth of distribution business. At the same time, the company has actively developed real estate business, and the engineering business has continued to grow. The two-wheel drive strategy of "distribution business + engineering business" has promoted a steady increase in sales performance. Third, the company has insisted on product innovation. Taking the lead, we continue to develop new products and multi-functional, high value-added products, and our brand awareness continues to increase, prompting accelerated sales growth.
Extension link:
Sprinting towards the 10 billion mark in 2023
On June 22, Mona Lisa Group released the "2021 Restricted Stock Incentive Plan (Draft)". After reasonable predictions and taking into account the motivating effect of the incentive plan, Mona Lisa GroupThe restricted stock incentive plan sets performance assessment targets based on operating income in 2020, with operating income growth rates from 2021 to 2023 being no less than 30%, 70%, and 113% respectively.
Allocation table of restricted stock incentive plan
According to the planned growth rate, Mona Lisa’s operating income from 2021 to 2023 will be no less than 6.323 billion yuan, 8.269 billion yuan, and 10.360 billion yuan respectively. This means that if the assessment target is achieved, Mona Lisa will achieve the goal of 10 billion revenue in 2023.
02
Dongpeng Holdings
Achieve revenue of 3.625 billion yuan
Ceramic tile sector 3.077 billion yuan
On August 27, Dongpeng Holdings released its 2021 semi-annual report. In the first half of the year, it achieved revenue of 3.625 billion yuan, a year-on-year increase of 39.02%, and net profit of 387 million yuan, a year-on-year increase of 79.26%. Among them, the sales amount of the ceramic tile segment was 3.077 billion yuan, accounting for 84.86% of the total revenue. The sales amount of glazed tiles (mainly including glazed tiles, antique tiles and porcelain tiles) was 2.665 billion yuan, and the sales amount of unglazed tiles (mainly tiles) was 2.665 billion yuan. Although polished tiles) is the only product category with negative growth, it still has a sales amount of 412 million yuan; the revenue of the sanitary ware segment is 459 million yuan, accounting for 12.67% of the total revenue; the revenue of other segments is 89 million yuan, accounting for 2.46% of the total revenue.
The financial report shows that as of the end of 2020, Dongpeng has a total of 6,710 terminal stores, including 5,317 ceramic tile stores and 1,393 sanitary ware stores, with a marketing network all over the country. The vast distribution network can reach consumers in a timely manner and convey new market trends to product research and development, thereby consolidating the company's product advantages. According to Su Rong, general manager of the brand center of Dongpeng Holding Group, Dongpeng headquarters will pass on the overall upgrade plan of operational content, including wall slate area furnishings and other operational content, to terminals. After October 1, there will be the first batch of more than 300 terminal stores. We will start to carry out new product sampling, store renovation and system upgrade, and strive to complete the popularization and upgrade of all terminal stores by the end of the year.
Reason for performance growth: The reason for the growth of Dongpeng Holdings' revenue and profit is that the company actively carries out key tasks such as brand upgrade, product leadership, channel sinking, localized supply, digital construction and green manufacturing, and continues to play its leading role in retail. battlefield advantages, achieve product, service, showroom and quality upgrades, increase the proportion of new products and high-value products, and refineIn order to improve production, reduce costs and increase efficiency, and scale operations, the gross profit margin in the first and second quarters has been improved compared to the same caliber. It has overcome the adverse effects of rising raw material and energy prices, local epidemics in Guangfo, etc., and achieved the company's performance and profit in the first half of the year. greater growth.
Expansion link:
Developing graphene heating slate business
On August 26, Dongpeng Holdings issued the "Announcement on Signing a Cooperation and Equity Transfer Agreement". The announcement showed that Dongpeng Holdings plans to participate in Guangdong Yuanxi New Materials Technology Co., Ltd. (hereinafter referred to as "Yuanxi Technology"). ""), obtain exclusive licensing authorization for graphene heating ceramic technology, industrialize and introduce graphene warm porcelain rock plate products to the market, build a new wall and floor system, and further enrich the product structure and product series. In this investment, Dongpeng Holdings conducted the transaction by transferring equity. Hunan Yuanchuang High-tech Industrial Technology Co., Ltd. and Foshan Yude Tianzhi Technology Partnership transferred 12.50% and 7.50% of the equity of Yuanxi Technology to Dongpeng Holdings respectively for free. .
It is reported that within 15 working days after the completion of the equity transfer, Yuanxi Technology and the relevant patent holders will sign a "Patent License Implementation Contract" with Dongpeng Holdings, which will provide Yuanxi Technology with the necessary equipment to engage in the production and operation of graphene heating ceramics. The patents and know-how secrets are licensed to Dongpeng Holdings in the form of an exclusive license, that is, any unit or individual other than Yuanxi Technology and Dongpeng Holdings (including Dongpeng Holdings’ subsidiaries) may not implement the patented technology.
03
Diou Home Furnishing
Achieve revenue of 3.13 billion yuan
Ceramic tile sector 2.729 billion yuan
On August 30, Diou Home Furnishing disclosed its 2021 semi-annual report. During the reporting period, it achieved revenue of 3.13 billion yuan, a year-on-year increase of 15.7%; net profit attributable to the parent company was 273 million yuan, a year-on-year increase of 8.19%. Among them, the ceramic tile business achieved revenue of 2.729 billion yuan, an increase of 11.10% year-on-year; the sanitary ware business achieved revenue of 331 million yuan, an increase of 82.47% year-on-year.
As of June 2021, after years of steady development, the company has 828 bathroom dealers and 936 terminal stores nationwide; there are more than 1,400 ceramic tile product dealers (agents) and more than 4,000 terminal stores. At the same time, the company's various dealers are accelerating the transformation from single retail business to omni-channel business services. The company has also established close relationships with many outstanding developers in the real estate industry.business relationships.
Reasons for performance growth: Based on the overall strategy of "preferring big B+expanding small B", Diou Home Furnishing has strengthened risk management and control measures in all aspects of the front, middle and back-end to ensure that the company maintains stable operations and achieves healthy growth; in cooperation with small B Strategy implementation, strengthen brand publicity, brand advertising in core airports, high-speed railways, and high-speed communication thoroughfares across the country to increase brand exposure; in order to enhance the competitiveness and market share of engineering channels, accelerate the implementation of the large tooling platform strategy, and give full play to the company's B-side Advantages in development and delivery guarantees, partners' small B-side development and regional service advantages, enhance the competitiveness and market share of engineering channels. The company's revenue in the first half of the year increased by 15.7% compared with the same period last year. Among them, the sales revenue of the construction ceramics segment and the small B business channel increased by 45.1% year-on-year. In addition to the company's original core customers, the sales revenue of self-operated engineering channels increased by 56.3% year-on-year.
Expansion link:
Two directors, Bao Jiejun and Ding Tongwen, resigned
Regarding the resignation of the company's directors, Diou Home stated in its financial report: Bao Jiejun and Ding Tongwen respectively received "Investigation Notices" issued by the China Securities Regulatory Commission on June 1, 2021. In view of their personal circumstances and in order to avoid any impact on the company's refinancing, Bao Jiejun and Ding Tongwen applied to the company's board of directors to resign from their positions as directors of the company's fourth session of the board of directors. After his resignation, Bao Jiejun no longer holds any other position in the listed company, and Ding Tongwen still serves as the president of Foshan Oceano Ceramics Co., Ltd., the company's holding subsidiary.
On August 24, the Sichuan Securities Regulatory Bureau disclosed that it had issued "Administrative Penalty Decision Letters" to Bao Jiejun, Chen Jiawang, Ding Tongwen, and Huang Jianqi due to mutual holdings of Diou Home Furnishing shares and false records in disclosed information. A fine of 1.5 million yuan was imposed.
04
Huida Group
Achieve revenue of 1.743 billion yuan
Ceramic tile sector 238 million yuan
On August 20, Huida Sanitary Ware released its 2021 semi-annual report. The company achieved operating income of 1.743 billion yuan from January to June 2021, a year-on-year increase of 32.38%. The net profit attributable to shareholders of the listed company was 112 million yuan, a year-on-year increase of 32.38%. down 12.94%. In terms of products, in the first half of this year, Huida Sanitary Ware's sanitary ceramics, ceramic tiles, bathtubs, bathroom cabinets, and hardware sanitary ware achieved revenue of 896 million yuan, 238 million yuan, 62 million yuan, 131 million yuan, and 291 million yuan respectively. Data display, sanitary ceramics are still the main products of Huida sanitary ware, with a year-on-year growth of 23.72%.
As of the first half of 2021, the Huida brand has opened 112 new stores in blank markets, upgraded 108 stores, and opened a total of 2,323 stores in the country, a net increase of 128 stores compared with the same period last year, including 1,900 sanitary ware brand stores, which is 1,900 stores compared with the same period last year. In the same period last year, there were a net increase of 101 stores and 423 ceramic tile stores, a net increase of 27 stores, which indicates that the company's focus on the development of retail channels has switched back to outlet expansion.
Reasons for performance growth: Detailed explanation of Huida Sanitary Ware's main revenue in the first half of the year is still mainly domestic retail sales and engineering channels. As of the first half of 2021, Huida Sanitary Ware's foreign sales have reached 406 million yuan, and domestic retail sales and engineering have achieved a total revenue of 1.322 billion yuan, of which domestic retail sales have achieved revenue data of 901 million yuan, while engineering channels have achieved revenue data of 901 million yuan. 421 million yuan, surpassing the entire export market, which reflects that there is still a large room for growth in domestic engineering channels.
Expansion link:
Acquired LA’BOBO to strengthen the ceramic tile sector
Recently, Huida Sanitary Ware issued the "Announcement on the Progress of Signing the Investment Cooperation Framework Agreement." Huida Sanitary Ware Co., Ltd. increased its investment in Beiliu Xinshengda New Materials Co., Ltd. with 130 million yuan in monetary capital. After the completion of this transaction, Huida will directly hold 70.61% of the equity of Xinshengda and become its controlling shareholder. On August 30, the strategic signing ceremony between Huida and New Goldman Sachs and Beiliu Municipal Government was held at the New Goldman Sachs factory. Huida signed strategic cooperation agreements with New Goldman Sachs and Beiliu Municipal Government respectively.
Mr. Wang Yanqing, President of Huida Sanitary Ware, said that Huida will invest hundreds of millions of yuan to introduce 5G digital network, MES management system, automation equipment in accordance with Industry 4.0 standards, and build two 5G smart tile production lines to promote Huida Ceramic Ceramics High-quality development of the sector.
05
Joyful Health
Achieve revenue of 564 million yuan
Ceramic tile sector 486 million yuan
On August 21, Yuexin Health, the parent company of SMIC Tile, released its 2021 semi-annual report. The company achieved operating income of 564 million yuan from January to June 2021, a year-on-year increase of 25.01%. The net profit attributable to shareholders of the listed company was 24.7315 million yuan, a year-on-year increase of 5.65%; during the reporting period, the company’s construction ceramics and other building materials business achieved operating incomeRevenue was 486 million yuan, accounting for 86.22% of the main business, an increase of 115 million yuan or 31.31% year-on-year.
Reasons for performance growth: In the first half of 2021, the company continued to increase its efforts to expand engineering sales channels for the construction ceramics business, strengthen the development and introduction of engineering customers, and at the same time actively expand distribution channels and increase product innovation and development. On August 26, the 2021 Shanghai Top 100 Enterprises list was released in Shanghai, and SMIC Group was ranked on the honorary list of "Shanghai Top 100 Manufacturing Enterprises".
Expansion link:
1.25 billion invested in building 4 production lines in Jiangxi
On June 6, Yuexin Health announced that the company’s wholly-owned subsidiary Jiangxi Mike Ceramics Co., Ltd. recently signed an “Investment Contract” with the People’s Government of Fengcheng City, Jiangxi Province. It is planned to carry out an expansion project on the existing 480 acres of unbuilt land in the Jiangxi Fengcheng production base. The total investment is RMB 1.25 billion. The project construction period is about four years. It is planned to build four new high-end ceramic tile production lines.
The first-phase construction investment is 250 million yuan. After the first-phase investment reaches production and sales are realized, the company's overall ceramic tile business is expected to have annual sales of 1.9 billion yuan and a net profit of 130 million yuan. After all production lines are completed and reached capacity and sales are realized, the company's overall ceramic tile business is expected to have annual sales of 3.2 billion yuan and net profit of 300 million yuan.
06
Marco Polo
Weide Industrial increases its holdings in Sitong shares
The Aesthetic Department takes actual control of the four links
From July 19th to August 10th, the listed company Stone Co., Ltd. issued 11 announcements one after another. The core content of these 11 announcements is that Guangdong Weide Industrial Investment Co., Ltd. plans to increase its holdings in Sitong shares. Public information shows that the legal representative and actual controller of Weide Industrial is Huang Jianping. The equity structure is Huang Jianping accounting for 72.5%, Xie Yuezeng accounting for 17.75%, and Deng Jianhua accounting for 9.75%. The three are persons acting in concert with each other.
On August 27, Stone Co., Ltd. issued a trading suspension announcement, stating that after the expiration of the tender offer period, in view of the need for further confirmation of the results of the tender offer, the company's shares will be suspended from trading on August 27, 2021. The results of the tender offer have now been confirmed, and trading of the company's shares will resume from the market opening on August 30, 2021. According to the results announced on August 27, Weide Industrial and persons acting in concert obtained a total of 9.26% of the equity this time. After the acquisition and settlement,The equity ratio of Sitong shares reached 35.99%.
Earlier, the name of Guangdong Marco Polo Ceramics Co., Ltd. has been changed to Marco Polo Holdings Co., Ltd., and the legal representative has also been changed from Xie Yuezeng to Huang Jianping. This time, the Aesthetic Department has gained actual control over Sitong's shares, which means that Marco Polo is not far away from going public.
Expansion link:
Sitong transferred Dongwei New Materials for 380 million yuan
On May 31, Guangdong Sitong Group Co., Ltd. issued the "Announcement on the Transfer of Subsidiary Equity and Related Transactions", transferring 100% equity of its wholly-owned subsidiary Guangdong Dongwei New Materials Co., Ltd. to 380 million The price was transferred to Guangdong Marco Polo Ceramics Co., Ltd.
As of June 30, Guangdong Dongwei New Materials Co., Ltd. has completed the industrial and commercial registration change. Sitong Co., Ltd. has received an equity transfer payment of 190 million yuan, and the remaining equity transfer payment of 190 million yuan was received on July 12. At present, Sitong Co., Ltd. has received a total of 380 million yuan from Dongwei New Materials for the equity transfer.
(Author: Hong Xiaochun)
