Soo saaraha Tuubada VIGA 
Dugsiga Ganacsiga ee musqusha
Warbixinta maaliyadeed ee ugu dambeysay ee dakhliga Huida Sanitary Ware Co., Ltd., Ltd (603385.SH, halkan lagu magacaabo sida “Huida nadaafadda Huida”), saamiyada hormuudka u ah saaxadda agabka nadaafadda, waxay muujinaysaa in cadaadiska culus ee cudurka uu ku jiro 2020, xawliga faa'iidada saafiga ah ee Huida Sanitary Ware dhawrkii sano ee la soo dhaafay ayaa si lama filaan ah u soo afjarmay, laakiin guud ahaan xaaladaha hawlgalka ayaa weli wanaagsan. Ka 2016 ku 2019, faa'iidada saafiga ah ee shirkadu ka soo korodhay 210 Milyan yuan to 329 Milyan yuan, hoos u dhac ku saabsan 6.58% sanadba sanadka ka dambeeya 2020.
Faa'iidada saafiga ah ee Huida Bathroom
Gudaha 2020, Dakhliga shaqo ee shirkadu wuu sii kordhayaa, wadar ahaan ku saabsan 3.218 bilyan yuan, kor 0.24% Sannad-sano-sano-sano. Xadka guud ee 31.33%, ka hooseeya margin guud ee ku saabsan 33% gudaha 2019. Inkasta oo isbeddelka guud uu yahay mid deggan, waxaa jira maalgashadayaasha ka walaacsan musqusha Huida “korodhka dakhliga ma kordhiyo faa'iidada” xaaladdu way faafi doontaa? There are foreign brands such as Kohler Sanitary Ware in front of the interception, the rear of the domestic brands such as Hai-O Sumitomo chasing. Huida sanitary ware, how will it cope with the future?
Lack of institutions, the stock price is not sluggish
Huida sanitary ware can be described as a veteran of the bathroom furniture market. According to enterprise search, the company was founded in 1982, so far has been 40 sanado, but only in 2017 listed on the SSE. IPO raised about 830 Milyan yuan, last year’s non-public offering of shares raised slightly more than 80 Milyan yuan. For such a well-known brand, its “appetite” is not large, and the subscription object is the company’s beneficial owner, the Wang family.
Maarso 12, the company issued a profit distribution plan, 2.43 yuan per 10 saami, isugeyn wax ka badan 92 Milyan yuan. This proposal did not receive a positive response from investors – the share price was 12.42 yuan/ wadaag bisha Maarso 11, ku dhacaysa 11.55 yuan/la wadaag maalinta xigta. Ilaa bishii Maarso 30, qiimaha saamiga shirkadda ayaa lagu xidhay 11.6 yuan halkii share. Sannadkii hore oo dhan, Qiimaha saamiga shirkadu wuxuu la kulmay kor u kac iyo hoos u dhac weyn May ilaa Agoosto, iyadoo qiimaha saamiga uu mar gaadhay RMB19.38 saamigii bishii Agoosto. Tan iyo markaas, shoogga dhicis, dib-u-soo-kabasho muhiim ah ma jiro.
Ka yimid saamilayda shirkadda, Huida musqusha qiimaha saamiyada, ilaa dhamaadkii sanadkii hore, tobanka saami ee ugu sarreeya, marka lagu daro maamulaha dhabta ah Wang Huiwen iyo qoyska Wang, Hal qayb oo ka mid ah Tangshan City Investment Co., Ltd. Tangshanna waa saldhigga guriga ee shirkadda. Maalgashadayaasha hay'adaha ee soo haray waa hal ICBC AXA Life Caymiska, oo leh saami qaybsi kaliya 0.9%.
Inta badan machadyadu waa “dabaysha” dhinaca maalgashiga. La'aanta hay'ado iyo qiimihii saamiyadu dib ayay u dhacaan, waxay u muuqataa inay u yeedhayso musqusha Huida si ay u siiso dhibic korriin faa'iido cusub.
Badeecooyinka dhaqameed waxay u baahan yihiin in la cusboonaysiiyo
Muddo dheer, Alaabta fayadhowrka ee Huida oo ay soo saartay ceramics-ka fayadhowrka iyo alaabada dhoobada dhoobada ah si suuqa loo furo, oo ah il dhaqaale oo muhiim ah. Gudaha 2020, shirkadda “alaabta macdanta ah ee aan biraha ahayn” dakhliga ayaa dhaafey 2.2 bilyan yuan. Taas bedelkeeda, dakhliga soo gala laba alaabta guryaha, alaabta biraha, si isugu xigaan, kaliya ku saabsan yihiin 200 Milyan yuan iyo 500 Milyan yuan.
Mudada soo socota, Alaabta dhoobada ayaa weli ah mid aad muhiim u ah si loo ilaaliyo faa'iidada shirkadda, waxaana sannadkii hore hoos u dhacay dakhliga soo gala macdanaha macdanaha ee shirkadu 2.78% Sannad-sano-sano-sano. Qiimaha hawlgalka, hase yeeshee, waxaa kordhay 1.58% Sannad-sano-sano-sano, iyo margin guud ayaa hoos u dhacay 2.93%.
By wax soo saar, tirada guud ee ceramics-ka fayadhowrka iyo darbiyada iyo sagxadaha dhulka ayaa hoos u dhacay 2.91% iyo 3.99% si isugu xigaan. Dakhliga dhoobada nadaafadda ayaa hoos u dhacay 4% Sannad-sano-sano-sano, oo mugga iibku wuu dhaafey 8 Milyan oo gogo '. Hoos u dhaca sanadba sanadka ka dambeeya ayaa ahaa 2.52%, halka alaabada alaabadu kor u kacday 5%. Waxaa jira calaamado muujinaya in badeecada gacanta ee shirkadu ay wajahayso caqabado gaar ah. Mugga iibka musqulaha qubayska ee shirkadda ayaa kordhay 15.27% Sannad-sano-sano-sano. Si kastaba ha ahaatee, miisaanka guud ma weyna, leh oo keliya 62,400 sets soo saaray. Alaabooyinka noocan oo kale ah ee warshadaha waxaa loo yaqaanaa “musqusha oo dhan”. Qaybta alaabtan, noocyada shisheeye sida Kohler, Panasonic waa kuwo aad u tartamaya. Huida sanitary ware, haddii aad rabto in aad la joogto iyaga guud ahaan musqusha, cadaadis weyn ayaa la kulmi doona.
Guud ahaan, Huida musqusha alaabta dhoobada dhaqameed, rajada faa'iidada aad uma cadda, kaas oo la xidhiidha alaabta “mooto” gacmeed. Alaabta dhoobada ah, marka la barbar dhigo agabka fayadhowrka ee caqliga leh, waxa ku jira tignoolajiyada hoose, heerka warshadahana ma sarreeyo. Tani waxay ka dhigaysaa aqoon-is-weydaarsiyo yaryar oo badan inay sidoo kale ka qayb qaadan karaan wax soo saarka, waxayna ka faa'iidaysan kartaa qiimaha hoose si ay u qabsadaan suuqa-dhamaadka hoose. Alaabooyinka dhoobada ah iyo guud ahaan musqusha marka la barbar dhigo kan dambe ayaa aad ugu janjeedha nashqada, xoogga saaraya la-qabsiga alaabta guriga ee kale ee isticmaalka shaqeynta, qaabka qurxinta. Mawduuca tignoolajiyada sare waxay si dabiici ah u keentaa qiimo dheeri ah oo dheeraad ah.
Alaabta dhoobada ah waxay ku tiirsan yihiin awoodda wax soo saarka dhaqameed, dhibaatada qiimaha hoose ee lagu daray warbixinta sanadlaha ah ee musqusha Huida ayaa sidoo kale muuqata. Qiimaha shaqada ee ceramics nadaafadda, Xisaabaadka 17.5% ee wadarta kharashka, tamarta shidaalka lagu xisaabtamayo 3.57%. Iyo musqulaha, qubayska iyo guud ahaan kharashka shaqada musqusha kale ayaa la xisaabiyay 0.47%, tamarta shidaalka lagu xisaabtamayo 0.08%. Qiimaha shaqada ee alaabta guriga musqusha ayaa la xisaabiyay 1.31%, Awoodda shidaalka ayaa lagu xisaabtami jiray 0.19%. Qalabka musqusha iyo tubbada qubayska ayaa ah “meesha la joogo” xagga farsamada iyo naqshadaynta.
Shirkaddu waxay kaloo u muuqataa inay ka warqabto dhinacan dhibaatada, ayaa lagu yiri warbixinta sanadlaha ah, “Tixraaca Tile Tile Tile ayaa dhacay 87.66%, iyada oo ay ugu wacan tahay kororka habaynta dibadda.” Sanadkii la soo dhaafay, shirkadu waxay soo saartay guud ahaan 364,300 mitir laba jibaaran oo dhoobada dhoobada ah, alaabada ayaa hoos u dhacday in ka badan 50% Marka la barbar dhigo sanadkii hore, laakiin mugga iibka ayaa kordhay kaliya 0.88%. Sidaas darteed, Dib-u-soo-saarka ayaa runtii ah isbeddel weyn oo ku yimid hawlaha shirkadda sannadkii hore. Tallaabadan ayaa hubaal ah inay badbaadiso kharashyada qaar, laakiin waxay sidoo kale caqabad cusub ku tahay ilaalinta tayada shirkadda.
Laga soo bilaabo warshadaha hoose, horumarinta tignoolajiyada alaabta, design qiimaha lagu daray waa lama huraan, Haddii kale way fududahay in lagu dhaco dagaal qiimo leh “aqoon isweydaarsi yar”. Iibka alaabta musqusha iyo suuqa hantida ma-guurtada ah ayaa si dhow isugu xidhan. Leh “saddex xariiq cas” la xadeeyay, tirada guryaha cusub iyo tirada iibka ayaa si weyn hoos ugu dhacay, Taas oo sidoo kale ka dhigan in baahida guud ee guryaha badeecooyinka ee alaabada nadaafadda ay yaraato.
Suuqa badeecadaha nadaafadda waxaa laga yaabaa in loo wareejiyo dayactirka xaafadda hore iyo mashaariicda gurracan ee leh siyaasadda. Qaybtan suuqa ka mid ah waxay inta badan ku taal magaalooyinka heerka saddexaad iyo afaraad, mulkiilayaashu aad bay u qiimo badan yihiin, iyo baahida loo qabo summadaha-dhamaadka sare waa xaddidan yihiin. Meelahan juqraafi ee suuqa hagaajinta guriga ama waxaa si dhakhso ah u qabsan doona aqoon-is-weydaarsiyo yaryar. Haddii kaliya diiradda la saaro dhoobada dhoobada alaabta qiimaha hoose leh, noocyada waaweyni si weyn uma tartamaan. Isbeddelka ku jira teknooloojiyada teknoolajiyada iyo naqshadeynta alaabada ayaa awood u leh inay furto farqiga u dhexeeya aqoon-is-weydaarsiyo yaryar.
Musqusha Huida ee ku jirta warbixinta maaliyadeed ayaa sidoo kale sheegtay, “Shirkadaha qaarkood ayaa laga yaabaa inay ku daadayaan qiimo jaban muddada gaaban, heerka hoose iyo xeeladaha kale, taasoo keentay hoos u dhaca celceliska faa'iidada warshadaha.”
Tartan adag oo lagu horumarinayo kanaalada
Qalabka fayadhowrka ee Huida ee goobta ku yaala waxaa loo yaqaan “Badda Cas”, oo wajahaya caqabad aad u daran, marka lagu daro guud ahaan jawiga warshadaha, laakiin sidoo kale ka yimid tartanka asxaabta. Sida xogta rubuci saddexaad ee sannadkii hore, qiyaas la barbardhigi karo, Xadka guud ee musqusha Huida wuxuu ka sarreeyaa guriga Jianlin, oo ka hooseeya tignoolajiyada Solux, Dongpengents haysashada, Diou guriga.
Alaabta ugu muhiimsan ee Solux Technology waa armaajooyinka musqusha, qubeyska, qasabadaha, musbaywe, iwm., iyo agabka fayadhowrka ee Huida ayaa leh is dulsaar gaar ah. Marka la barbar dhigo Huida agabka nadaafadda, Tignoolajiyada Solux waxay dadaal dheeri ah galisay naqshadeynta, kaas oo sidoo kale ka dhigaya qaab ganacsi ee IDM, ka duwan qaabka OBM ee Huida agabka nadaafadda.
Waxa loo yaqaan OBM, ama soo saaraha astaanta asalka ah, waxay ku shaqaysaa sumaddeeda waxayna dhistaa shabakad suuqgeyneed oo u gaar ah. IDM, dhanka kale, ku lug leh badeecooyin cusub oo ku salaysan xaaladaha suuqa, ka dibna ku tiirsan shatiyada iyo hantida garaadka si ay u sameeyaan faa'iido. Tani waa sababta oo ah Solux Technologies waa badan “hantida-iftiin”, taas oo ka dhigaysa faa'iidada ay leedahay “fududahay”. Ilaa rubuci saddexaad ee sannadkii hore, Qiimaha ugu sarreeya ee Solux Technology wuxuu ahaa 35.75%, kor 4.56% Sannad-sano-sano-sano, kaas oo ka sarreeya 31.33% ee Huida Sanitary sanadkii hore. Tignoolajiyada Solux waxay leedahay qiimo suuq ka badan 6.6 bilyan, kaas oo sidoo kale ka faa'iido badan Huida Sanitary marka la eego mugga.
Alaabta Diou Home waxa ay la jaanqaadayaan agabka nadaafadda ee Huida. Saxankeeda dhoobada ayaa leh astaanta “O Shennuo”. Goobta alaabta fayadhowrka dhoobada la tartan alaabta nadaafadda ee Huida. Laakiin marka laga eego dhinaca mugga, wadarta qiimaha suuqa ee Diou Home waa ka badan yahay 7 bilyan yuan, marka loo eego mugga ku saabsan 4.3 balaayiin yuan Huida agabka fayadhowrka ayaa si cad u sareeya.
Sida shirkadaha qaar aysan wali shaacin warbixin sanadeedka sanadkii hore, marka la barbar dhigo xogta saddex-meelood meel ee sannadkii hore, Huida musqusha 2.23 Dakhliga bilyan yuan ayaa dhaafay celceliska warshadaha 1.007 bilyan yuan, darajada ka dib Jianlin Home iyo Hai-O Sumitomo ee dhawaanta liiska ku jira, iyo ka hor saamiyada Lege iyo Solux Technology. Marka laga eego dhinaca dakhliga ka soo gala saami kasta, Huida agabka nadaafadda ayaa ku saabsan 0.62 yuan, in ka badan celceliska warshadaha 0.26 yuan, darajada ka dib saamiyada Lege iyo Jianlin Home.
Sida haddii shirkadu kordhiso raasamaalkeeda mustaqbalka si ay u ballaariso mugga? Qalabka fayadhowrka ee Huida ee warbixinta sanadlaha ah ayaa sheegay in, inkastoo “ma jiro qorshe gaar ah oo soo gadashada iyo midaynta”, laakiin sidoo kale waxay dooran kartaa fursada aad ku heli karto shirkado asaag ah, samaynta khadadka wax soo saarka gobolada si loo ballaariyo saamiga suuqa. Bisha Maarso ee sanadkan, Guosheng Securities Huang Shitao ayaa yidhi, Musqulaha Huida oo qoto dheer oo xaaqaya musqusha in ka badan 30 sanado, sumaddeedu waxay leedahay wacyiga suuqa sare. Ka dib markii liiska, in la dardargeliyo qaabka suuq-geynta omnichannel iyo dhisidda awoodda. Dhammaadka qaybinta cusboonaysiinta bakhaarka iyadoo si firfircooni ah hoos loogu dhigayo aagga bannaan. Dhamaadka injineernimada ayaa diiradda saaray horumarinta macaamiisha waaweyn ee hantida maguurtada ah oo leh natiijooyin la taaban karo. Waxaa la filayaa in laga bilaabo 2021 ku 2023, faa'iidada saafiga ah ee loo aaneeyo hooyada ayaa gaari karta 370 Milyan yuan, 428 Milyan yuan iyo 484 milyan yuan siday u kala horreeyaan.
Huacheng Securities Guo Qinglong ayaa ka hadlay intii uu cudurka faafay, Musqusha Huida waxay si firfircoon kor ugu qaadaysaa horumarinta tafaariiqda cusub, kor u habaynta dukaamada offline, ganacsiga tafaariiqda online, si loo gaaro qaabaynta shabakada saddex-geesoodka ah, ganacsiga mustaqbalka ee shirkadu waa mid faa'iido leh.
Aragtiyadan kala duwan ayaa ka hadlay muhiimada ay leedahay kanaalada tayaynta musqusha Huida. Warbixinta sanadlaha ah, hadda “kabidda iibiyaha” waa ku saabsan 37.88 Milyan yuan, asal ahaan la mid ah xilligii hore, si loo sii ballaariyo kanaalka, gaar ahaan iibka online-ka ayaa si weyn u badbaadin kara lacag. Wanaaji margin guud, Kaas oo ah waddo macquul ah oo loogu talagalay musqusha Huida ee badda cas ee tartanka.
Sida loo kordhiyo isbeddelka alaabta fayadhowrka ee Huida ee nashqadeynta iyo farsamada si ay u dhistaan caqabadahooda tartanka? Ifafaalaha korodhka dakhliga iyada oo aan la kordhin faa'iidada waa ku meel gaar ama isbeddel? Sidee shirkadu uga badbaadi kartaa tartanka adag ee ay kula jirto asaageeda? Investors.com waxay qoraal u dirtay shirkadda arrimaha la xidhiidha, balse jawaab ma helin.