The air-conditioning industry began to raise prices near the end of the year. Last year, due to the price increase of upstream raw materials, Midea, Gree and other leading companies in the home appliance industry set off a wave of price increases in the first half of last year, and the last first-line brands also followed suit. The air-conditioning industry began to raise prices near the end of the year.

The air-conditioning industry began to raise the price of 1 near the end of the year, but the small brand air conditioners suddenly adjusted the price letter, which fired the first shot of the "New Year" price increase. For the price increase of small-brand air conditioners against the trend, Hong Shibin, an observer in the home appliance industry, told reporters in an interview with Cailian that the reasons for the price increase of small manufacturers are tenable and their ability to digest costs is poor. He further predicted that Gree and Midea could not follow this price increase, and the possibility of price increase in early 2022 was even smaller. Some insiders of Gree told Cailian that they had not heard the news of price increase.

It is worth noting that the raw materials of household appliances have been slightly lowered recently. It is widely predicted in the industry that the correction of raw materials in 2022 will bring about cost improvement and there is room for improvement in demand.

Small brand air conditioners are expected to rise against the trend in the new year.

According to the information of household appliances, Guangdong Meibo Intelligent Environment Equipment Co., Ltd. (hereinafter referred to as "Meibo Air Conditioning") and Jiangsu Xinke Electric Appliance Co., Ltd. (hereinafter referred to as "Xinke Air Conditioning") issued price increase notices on February 23rd, 20021and 20021respectively.

Meibo Air Conditioning announced that since June 65438+1 October 1 in 2022, the price has increased by 5%-8% compared with February1. Shinco Air Conditioning announced that it will raise the price by 3%-5% from 2022 1 October1. Among the reasons for the price increase, raw materials have risen sharply, and Shinco Air Conditioning has also separately emphasized the impact of energy consumption control on manufacturing costs.

In fact, the price of raw materials for home appliances has recently dropped month by month. The research of open source securities Lv Ming's optional consumption team shows that the ABS price/steel comprehensive price/aluminum price/copper price index of 202 1W5 1 is-2.18%/+0.01-1respectively.

Liu Yixin, a steel analyst at Zhuo Chuang Information, told Cailian that the overall trend of 202 1 steel was first rising and then falling. After 10, with the price of coke thermal coal falling, the demand failed to meet expectations, and the steel price began to adjust back. The overall macro background of steel prices in 2022 can be said to be not particularly ideal and negative. In the first quarter, due to the inventory demand of home appliance enterprises, steel prices may rise, but the overall trend in 2022 is downward.

The prospects of home appliance manufacturers in raw materials are also optimistic. Midea group (000333. SZ) recently told Cailian that the high level of global bulk materials has been reached, which means that there is at least little room for further improvement. Can there be a big drop? At present, it is not easy to judge, and we think it may fluctuate within a small downward range.

There is a high probability that Gree Midea will not follow up to improve demand next year.

Then, in the case that the prices of major raw materials have been adjusted back and there is still room for improvement in 2022, do Meibo and Xinke choose to raise prices against the trend based on cost pressure?

Hong Shibin, an observer in the home appliance industry, told reporters that the reasons of small manufacturers are tenable. Although raw materials have declined in recent months, they are still at a high level year-on-year. Relatively speaking, the ability of small manufacturers to absorb cost pressure is weak. Large manufacturers can choose to digest through scale procurement, brand premium and product innovation. In view of this price increase, the most sensitive is the dealer.

A home appliance dealer told reporters that small air conditioner manufacturers are under great cost pressure, and they will "die" if they don't adjust the price, but the price adjustment will also affect sales, especially when the consumption environment is not good.

Ovi cloud. Com shows that the online and offline market share of Xinke Air Conditioning 2 1W52 is 0.0 1%, showing a downward trend year-on-year, and the two cities rank 27th. Meibo Air Conditioning 2 1W5 1 has an offline listing rate of 0.02% and an offline market rate of 0.0 1%, ranking 29th in the two cities.

Based on the above situation, Hong Shibin judged that Gree could not follow this price increase, and the possibility of price increase in early 2022 was even smaller. Because the market behavior of Meibo and Xinke is not enough to affect the overall situation.

Gree insiders also told the Cailian reporter that they have not heard the news of the price increase.

In fact, due to the high price of raw materials, domestic air-conditioning manufacturers have adjusted their prices many times. According to the static calculation of TF Securities, the price increase of 202 1 raw materials will increase the cost of air conditioning 12%. According to the data of Aowei Cloud, the average price of domestic air conditioners increased by 246 yuan compared with the same period of last year, with 2021-1.

TF Securities said that the sharp drop in Q2 domestic sales in 202 1 household appliances industry was caused by the increase in price sensitivity of terminal demand on the basis of weak demand. If the terminal price is loosened after the raw materials go down next year, it is expected to have certain benefits to the demand side.

Near the end of the year, the air-conditioning industry began to raise prices. Is it the most cost-effective to buy out of season? No, at the moment when "everything goes up", this law has failed.

Near the end of the year, the news of price increase in the home appliance industry continues.

The market circulated the price increase letters from Guangdong Meibo Intelligent Environment Equipment Co., Ltd. (hereinafter referred to as "Meibo Air Conditioning") and Jiangsu Xinke Electric Appliance Co., Ltd. (hereinafter referred to as "Xinke Air Conditioning"), announcing the price increase from 1 in 2022.

Later it was reported by the media that Midea Group (000333. SZ) also issued a price increase notice, with the implementation date of 65438+1October 4/5. According to the publicity materials, the price of air-conditioner hangs up by 200-900 yuan.

65438+10.7, Time Finance confirmed to Meibo Air Conditioning and Shinco Air Conditioning Sales Department that the company did have a price increase notice, but the price increase was not significant.

On the same day, Time Finance repeatedly called Midea Group and Gree Electric, but as of press time, he did not get a reply. However, many dealers of Midea, Gree and panasonic air conditioning confirmed to Time Finance that the prices of air conditioners and other household appliances have risen across the board. "Every month, manufacturers will raise prices. We can only follow suit. "

Trapped by the price increase of upstream raw materials, the leading brands in the home appliance industry, such as Midea and Gree, have set off a wave of price increases in the first half of last year, and the last first-line brands have followed suit. Some insiders said that there is no indication that the home appliance industry will become optimistic in 2022.

Image source: Midea Air Conditioning Official Micro

Air conditioning price increase in winter?

According to the price increase letter, Meibo Air Conditioning said that due to the continuous rise of raw materials, the price of cold coal soared and the company's product costs continued to be under pressure. Through research, it was decided that the product price in June 2022 was 65438+1October 65438+1October, which was 5%-8% higher than that in June 2028.

Coincidentally, according to the online price increase notice, Shinco Air Conditioning said that the price increase was mainly due to the continuous increase in the prices of bulk raw materials related to air conditioning production, especially the recent sharp increase in the costs of copper, aluminum, ABS and steel.

At the same time, due to the influence of national energy consumption control measures such as "power cut", the production and manufacturing costs are rising, which leads to a sharp increase in the company's recent cost pressure. It is decided that the business opportunity price of new air-conditioning household machines and lamps will be raised by 3%-5% from 1 in 2022.

draw

65438+ 10. On 7 October, Time Finance called the sales department of Shinco Air Conditioning Co., Ltd., and the person in charge told Time Finance that the company did have a notice of price increase, but it still has inventory, which will not increase before the Spring Festival. "Because of the rise in copper prices, air conditioners rose too much last year, up by 20%. It won't rise too much this year, maybe tens of dollars. "

On the same day, the head of Meibo Air Conditioning Sales Department also confirmed the news of price increase to Time Finance. "The price increase letter will be released in the next two days, and the price increase of air-conditioning products will be 3%-5%."

Shinco and Meibo are third-line home appliance brands. Generally speaking, home appliance companies will carry out price reduction promotion before the festival, but why do they raise prices so tacitly at this time?

654381October 7th, Liu Buchen, an analyst in home appliance industry, said in an interview with Time Finance that it is the big brands that decide the market price trend, and this wave of price increase in home appliance industry should occur in the first half of 20021year.

"In the past two years, the prices of upstream raw materials have risen, and the competition of downstream home appliance enterprises has been fierce, while the price increase of small brands has not been transmitted, and the profitability has been further squeezed. At this time, they announced the price increase, indicating that the operation is extremely difficult. " Liu Buchen said.

Although the person in charge of Meibo Air Conditioning said that there would be no promotion activities before the year, Time Finance found the promotion poster of Meibo Air Conditioning on the Internet.

Liu Buchen pointed out that this further shows that the operating pressure of the last-line home appliance enterprises is enormous. "On the one hand, the cost is too high, and it is not possible to raise prices; On the other hand, the price increase can't be sold, and the company's marketing strategy has obviously become chaotic. "

draw

202 1 this year can be said to be the darkest moment in the home appliance industry.

A research report of Capital Securities in June 5438+February last year pointed out that the home appliance industry was in a downturn due to the rising real estate industry, raw material prices and transportation costs.

According to the research report, 202 1, real estate sales opened higher and went lower, which obviously suppressed the valuation of household appliances, especially kitchen appliances. In addition, raw materials are one of the main factors that affect the profitability of home appliance enterprises. In mid-June of 20021year, the price indexes of zinc, copper, aluminum and China plastics in China increased by 17.6%, 30.4%, 55.5% and 18.4% respectively compared with the beginning of last year. The high cost of raw materials has dragged down the overall profit of the industry and suppressed the valuation of the home appliance sector.

What's more, since 20021,the transportation capacity has been tight, the freight rate has been rising continuously, and the RMB exchange rate fluctuated slightly in the first half of the year, which has caused certain pressure on home appliance enterprises with relatively large export business.

Multiple factors are transmitted to the price increase of end products, and the home appliance industry can only cope with the cost increase by raising prices. The leader is Midea Group, the "big brother of home appliances".

In March, 2002 1 year, Midea Group announced a price increase, indicating that the price system of Midea refrigerator products will be raised by 10%- 15% from March, 20021year.

Later, although Dong Mingzhu, chairman of Gree Electric, said in many public occasions that "Gree will not raise prices", Time Finance learned from many Gree dealers across the country that Gree air conditioners, like other brands, have raised prices many times since last year.

According to the statistics of Aowei Cloud, the average price of white refrigerators, washing machines and air conditioners in 2021-1China increased by 7 19 yuan, 380 yuan and 246 yuan respectively compared with the same period in 2020.

First-line brand dealers can't hold on either.

Copper is one of the most important commodities that affect the price of air conditioners. The research report of Guoyuan Futures 65438+1October 7 shows that copper prices are expected to fall in the short term, and the medium-term shock pattern has not changed. Wind shows that as of June 6, 2022, the spot price of copper on the London Metal Exchange was 9778 USD/ton (about RMB 6232 1 yuan/ton).

The price of raw materials has dropped slightly, and the upstream bargaining power and pricing power of leading enterprises are higher. They can maintain profits by shifting costs and have stronger pressure tolerance.

But in fact, even the dealers of first-line brands are complaining.

"The market is too bad, raw materials have gone up, and manufacturers can't do it without going up. Chips are out of stock, and the price increase of high-end electrical products is even greater; The demand side has fallen again, and the sales situation of the entire home appliance industry is not optimistic. " 65438+ 10. On 7 October, the person in charge of a secondary distributor of Gree Air Conditioning and Panasonic in South China told Time Finance.

According to the statistics of Aowei Cloud, in 2022 1 week, the offline sales of air conditioners decreased by 27. 13% year-on-year, and the sales volume decreased by 30.69% year-on-year.

However, the impact of rising raw material prices on enterprises has a certain lag. Time Finance found that the price hike of first-line brands continued.

654381October 6, the air conditioner distributor of Midea and the person in charge of Shenzhen Xinhongyuan Refrigeration Equipment Co., Ltd. told Time Finance that the price has been rising for some time, and it is rising every month, and it is predicted that it will continue to rise in the future.

Similarly, Gree dealers Yantai Yu Xiang Air Conditioning Refrigeration Engineering Co., Ltd. and Suzhou Tian Xiang Electromechanical Engineering Co., Ltd. all said that the price of air conditioners began to increase in the first half of last year, all of which followed the price increase of manufacturers.

Liu Buchen predicted that the price of household appliances in 2022 will be roughly the same as that in the second half of 20021,or slightly lower, and the price war of household appliances enterprises will be more intense in 2022. "China has entered the era of home appliance stock market. The state has not yet issued a policy to stimulate the home appliance industry. The market is still oversupply, and the impact of the epidemic is superimposed. There is no indication that the home appliance market will improve this year. "

In the secondary market, the home appliance sector dropped significantly last year, but there were obvious signs of recovery in 2022.

This week (1.4- 1.7), the Shanghai Composite Index fell 1.66%, and the household appliances (CITIC) sector rose by 4.36%, outperforming the broader market by 6.02%. As of the close of 65438+ 10/7, the household appliances sector in Dafeng China Industry Index rose by 2.42%, Midea Group reported 77.78 yuan/share, up by 3.73%, and Gree Electric reported 40.65438 yuan/share, up by 3.96%.

The air-conditioning industry began to raise prices near the end of the year. At the beginning of 2022, the price increase of air conditioners seemed to be tight for a while. First, some end-line brands such as Meibo and Xinke issued price increase notices, and the implementation date began on New Year's Day in 2022. Then Midea Air Conditioning also issued a price increase notice, with the implementation date of 4th and 5th. According to the publicity materials, the price of hanging up is 200-900 yuan.

Midea's letter of air-conditioning price increase has not caused much storm in the air-conditioning industry, because the ups and downs of air-conditioning prices are not surprising. It seems that it is not enough for some brands not to send several price increase letters every year to show their power in the industry. For the price increase of air conditioners, air conditioner dealers all over the country launched a big discussion on the WeChat group of "Home Appliances". Many dealers believe that the price increase of air conditioners at this time is more to prepare for the opening after the Spring Festival, and also to reserve space for price reduction in March. Since it is such a routine every year, many merchants said this year that if you raise the price, I will stay where I am and not follow!

"Home Appliances" believes that air-conditioning dealers feel "quilt cover", mainly because air-conditioning manufacturers call for price increases before the start of the peak season, and encourage offline channel merchants to make money to purchase goods on the grounds of price increases; On the one hand, major online channels continue to launch promotional "fighters". As a result, offline merchants bought goods at high prices, but it didn't take long for major brands to start fighting again. The online and offline price cuts hurt the hearts of merchants who had made money before.

The biggest criticism of many air-conditioning businesses to brand manufacturers is "Why not raise the price of online platforms first?" "Household Appliances News" found in JD.COM Mall that the air-conditioning prices of many brands are not very low, but the air-conditioning prices of some brands are really not high.

Through the above price comparison, we find that the first-class energy efficiency of Gree air conditioner 1.5 is 2999 yuan, which is higher than that of 400 yuan, compared with the low price of 2599 yuan in 2020. Midea's air conditioner 1.5 horsepower, the first-class energy efficiency is 2699 yuan, which is higher than 300 yuan's low price of 2399 yuan in 2020. The price of Hualing air conditioner 1.5 under Midea Group is only 2369 yuan, even lower than that of Xiaomi, 30 yuan.

It can be seen from here that the ultimate goal of Midea's air-conditioning price increase is to raise the air-conditioning price of Midea's brand, and the price of Valin air-conditioning will continue to go down. In this way, the brand positioning differentiation is realized, the brand pricing of Midea is closer to Gree, and the pricing of Valin air conditioner is similar to that of Xiaomi air conditioner. One high and one low dislocation management, Midea air conditioner is profitable, and Valin air conditioner occupies the market.

However, market competition is cruel and often full of ideals and skinny reality. If the price of Midea air conditioner rises by 200-900 yuan this time, the price of Gree air conditioner will remain unchanged, and the prices of Midea air conditioner and Gree air conditioner are similar. At the same price, Midea Air Conditioning needs more courage and determination to defeat Gree Air Conditioning.

"Household Appliances News" believes that the reasonable pricing of air-conditioning products is conducive to the healthy development of the industry, but the price increase requires the major brands to reach a tacit understanding, and the price increase will be synchronized online and offline, otherwise the price increase of any brand will be short-lived, and even the farce of raising prices today and lowering prices tomorrow will evolve into an old drama of "locking up" dealers.

Can this wave of air-conditioning price hikes last until after New Year's Day? Pay attention to "home appliances" entering the group and see how these dealers ship big coffee. You have a story, I have wine. Let's talk together.