The profile of Haier smart home and the window of China's economy
The huge intelligent robot on the assembly line, through one device from all over the country will be recycled home appliances for fine dismantling, crushing and cleaning, plastic granulation, and finally through the automatic weighing, granulation, packaging, palletizing and other production processes, to generate high-quality recycled new materials, used in household appliances, automobiles, daily chemicals, and even food grade plastics and other fields.
This is the 30th anniversary of Haier smart home IPO, the author came to Qingdao Laixi industry's first "negative carbon" factory - Haier smart home recycling interconnection factory to see the scene. The whole factory has 6 automatic home appliance dismantling lines such as refrigerators, washing machines, air conditioners, and TVs, 1 cleaning and sorting line, 1 electrostatic color selection line, and 13 high-quality granulation lines, almost realizing the full-link digitalization, intelligent and efficient operation. The factory can disassemble 2 million used household appliances a year and recycle 30,000 tons of recycled materials, and is committed to building a "lighthouse factory" in the global recycling field.
"Haier smart home recycling industry takes home appliance recycling as a starting point, extends to disassembly, regeneration and remanufacturing links, and builds a green recycling ecosystem of 'recycling-disassembly - regeneration-remanufacturing', which has become a new growth model and growth point of Haier smart home, and also fulfills the producer responsibility extension system through our recycling industry to practice the 'double carbon' goal with practical actions." Haier smart home vice president, recycling industry general manager Ren Xianquan said.
Through a "from birth to death" cycle of home appliances from manufacturing to recycling and disassembly to material reuse, Haier smart home has built a closed-loop value chain of the whole life cycle of products, and perfectly practiced the concept of "infinite evolution and value cycle". Successfully created a "new curve" for the sustainable development of the enterprise - and this is just a section of the borderless exploration of Haier smart home over the past 30 years.
30 years, in people, is the age of 30; It is more important for Haier smart home, which was IPO on the stock market in 1993, and is A company that all value investors and enterprise observers cannot get around.
On the one hand, he has created great value for the market. IPO 30 years ago, Haier smart home market value from more than 2 billion to 230 billion Yuan, 2022 dynamic PE premium rate of 28.07%, 30 years, revenue CAGR (compound annual growth rate) 21.8%, net profit CAGR20.3%.
More importantly, in China's home appliance enterprises, Haier smart home is one of the few enterprises that have almost stepped on the rhythm of The Times in the past 30 years, providing a research window for the development of China's economy in 30 years.
Knowledge based on the past does not lead to the future. Standing on the 30th anniversary of IPO of Haier smart home node, we try to observe the past, present and future of Haier smart home, to answer some questions: Why is this company promising? What is the long-term trend and growth logic of this company in the future?
Follow every rhythm of The Times
Haier smart home business originated from Haier, the most classic is "smashing the refrigerator"
There are always people who lead The Times, and there are always people who lead the industry. When we look back on this history again, we are still filled with emotion: the growth of Chinese manufacturing began from the importance of quality, and Chinese home appliance companies began to attach importance to quality from the beginning of smashing refrigerators.
Looking at the various stages of the development of China's home appliances, Haier smart home in the branding, internationalization, globalization, high-end, intelligent, product scenarios and other stages, almost are stepping on the rhythm of The Times, and one step ahead of the others.
Haier smart home's globalization is a classic case of Chinese enterprises overseas business
In the 1990s, there were two options for home appliances to overseas business, one was "shortcut", and the threshold of OEM was low and the income was fast; The other way is to create their own brand, "go a long way". When most of the industry choose to do foreign brand processing "earn foreign exchange" and earn easier processing fees, Haier smart home to establish overseas factories, dealer networks and after-sales service networks, choosing a more difficult road of "brand creation", "Haier brand" has emerged internationally.
"There is no famous brand in the country, and only when you go overseas business, you started to experience yourself." In reviewing this history, Huang Xiaowu, vice president of Haier smart home and director of ESG Global Executive Office, said.
But it is clearly a more difficult and complicated path. From 2015 to achieve breakeven in overseas markets, Haier smart home has been under great pressure for more than 20 years, from breakeven to 2021 profit margin more than processing, and after 6 years.
More than 20 years of persistence and perseverance, Haier smart home's "global brand creation" action, in exchange for today's Haier smart home's leading position in the global white power field, but also provides rich soil for its business transformation, and so on when the peer reaction to follow up, Haier smart home has already taken a step ahead.
One step first, steps first. It is precisely because of the brand to organize the production network and business network, Haier smart home more quickly than the contract manufacturing enterprises into the core position of the local manufacturing network, in the process of globalization, Haier smart home in the acquisition of Japan Sanyo white power business, New Zealand Fisher & Paykel, the United States GE Appliances and Italy Candy, the integration is more smooth.
Doing the hard thing and doing it right is one of the most striking features of my summary of all the key choices at Haier smart home. Difficult means that the threshold is high and the benefit is large, and correct means that it conforms to the general trend. This is also shown incisively and vividly in the process of high-end, intelligent and ecological appliances in the back.
After entering 2010, after more than 30 years of rapid development, China's home appliance market officially entered the stock stage from the incremental stage. In the stock era, the basis for the transformation and upgrading of China's home appliance industry is that Chinese local brands should stand up and impress consumers with the new image of the brand shaped by products and services, so as to stimulate the huge quality of the stock market for new needs - this is also the underlying logic of the high-end transformation of China's home appliances, and the first engine of Haier smart home's profit increase in recent years.
From the high-end point of view, Haier smart home since the establishment of the Casady brand in 2006, after 17 years of incubation, has now become the representative of domestic high-end home appliances, high-end market share for 6 consecutive years to maintain the first.
Then in 2020, he created the world's first smart home scene brand, Three-winged Bird. The underlying logic of the three-winged bird is actually the deep strategic upgrading and marketing model transformation of Haier smart home, which has realized the leadership from the household appliance brand to the scene ecology, and successfully transformed the traditional enterprise into an ecological enterprise.
IPO 30 years ago, Haier smart home will be a thorns, full of questions to go through the road, go along, behind its eye-catching financial report, is its accurate grasp of the globalization of Chinese enterprises, high-end opportunities, actively explore intelligent, ecological, scene, out of a "long slope and thick snow" track.
ESG: The present and future of the long-termist
The past 30 years have witnessed China's rapid economic development, as well as opportunities and challenges. The Times have changed dramatically, but the vision, dream, vision and great pattern will not change.
When we look from the history of Haier smart home back to the present, we will find that the challenges of the home appliance industry have always existed, and only those enterprises with long-term thinking, long-term strategy, long-term business logic, and long-term resource allocation can find endogenous new forces and opportunities.
So where is the opportunity?
Huang Xiaowu believes, "For globalized companies, ESG is not an option, but a must. For Haier smart home, ESG is more of an opportunity."
ESG is a three-dimensional methodology, but also a long-term values, it requires enterprises in the environment, social responsibility, corporate management and staff development have a long-term construction. From the perspective of responsibility and opportunity, Haier smart home have explored and selected in various dimensions of ESG.
As a IPO company, the market will look at two statements in the future: one is the financial statements of IP companies; The other is the ESG report. If the financial statement of an enterprise mainly examines the profitability of the economic dimension, then the ESG statement mainly examines the sustainable development ability of the enterprise in the social dimension.
Unlike most domestic enterprises that begin to practice ESG at present, Haier smart home released its first social responsibility report as early as 2008 based on the advantages of Chinese enterprises going out to create brands. In the following time, Haier smart home will run ESG concept through the whole process of business development, continue to create social value, show responsibility, and lead the industry to build a sustainable future.
According to Wu Jian, general manager of Haier smart home planning and design platform, Haier smart home actively implements the 6-Green strategy of "green design, green manufacturing, green marketing, green recycling, green disposal and green procurement", integrates low-carbon energy saving into the whole life cycle of products, and drives the green development of the whole industry chain at home and abroad.
In this industrial chain, Haier smart home has integrated low-carbon energy saving into the whole life cycle of products in terms of environmental governance, and explored a series of new industries and new species such as Haier smart buildings and the recycling interconnected factories mentioned above. Haier smart building innovation "carbon reduction, negative carbon, zero carbon" technology, through the magnetic gas suspension intelligent energy saving program to achieve "carbon reduction", through the optical drive energy storage program to achieve "zero carbon", through the heat recovery power generation and gas expansion power generation to achieve "negative carbon". Among them, Haier maglev central air conditioning program realizes zero-friction oil-free operation, achieving a green and low-carbon effect of 50% energy saving. At present, Haier smart building has become the second growth curve of Haier smart.
If the green transformation at the production end has opened up the huge potential of carbon emission reduction in industrial manufacturing, then the Haier smart home recycling interconnected factory dedicated to product recycling has made household appliances, a "large carbon emitter", a "negative carbon pioneer", and gradually grown into the future performance growth pole of Haier smart home.
In terms of social responsibility, Haier smart home, as a highly international enterprise, actively undertakes social responsibility in the world. In China, it is "the enterprise that has assisted the most hope primary schools in the Hope Project of the Central Committee of the League". Overseas, Haier smart home donated materials and cash to local public welfare organizations and charitable activities in many countries such as the United Kingdom, Italy and Indonesia.
It is not difficult to find that in the past 30 years, Haier smart home has created immeasurable social value. Haier smart home in its own to provide more than 100,000 jobs at the same time, but also led to related industries more than one million jobs.
In addition to continuously creating value for the society, Haier smart home also pays attention to creating value for employees. When it first went public, it had only 1,568 employees, and now it has more than 100,000 makers worldwide. Haier smart home always adheres to "maximizing the value of people", provides employees with opportunities for experience and growth, and lets countless makers create extraordinary things in ordinary positions. In addition to 243 employees in the manufacturing system have won national, provincial and municipal honors, in the research and development system, there are also many scientific and technological workers have won the China Patent Award, National Science and Technology Progress Award and other honors.
Original: Liang Yunfeng，Qin Shuo friends 2023-10-25 00:00 published in Shanghai
