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Growth Of 371% VS 70% Decline! Has The Whole Bathroom Market Competition Reached The “White Hot” Stage?

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Original Kitchen & Bathroom Headlines

Recently, two companies related to the whole bathroom (also known as the whole bathroom or assembled bathroom) – Huida bathroom and Seagull Sumitomo have released their latest financial results. They respectively disclosed the revenue data of the category in the first half of 2021. The revenue of Huida sanitary ware whole bathroom increased by 370.95%, while the revenue of Seagull Sumitomo similar products fell by 69.63%. Some institutions predict that by 2025 the whole bathroom market size will reach 16.5 billion yuan. The continued expansion of the market has attracted more companies and capital to enter. The different enterprise revenue data may be a symbol of the whole bathroom market competition that has entered a white-hot stage.

 

Huida whole bathroom revenue increased significantly by 370.95%

According to Huida bathroom’s released semi-annual report, the company achieved an operating income of 1.743 billion yuan in the first half of the year, an increase of 32.38%. Among them, the whole bathroom operating income was 55 million yuan, a significant increase of 370.95% over the same period last year, accounting for 3.18% of the total revenue. In addition, as an important sales channel to support the whole bathroom business, Huida bathroom in the first half of the project channel revenue reached 421 million yuan, an increase of 23.52%.

Unit: million yuan

Product Categories Revenue from main business in the reporting period Year-on-year change Percentage of main business revenue
Sanitary ceramics 89, 577. 08 23. 72% 51. 82%
Among them: intelligent sanitary ware 18,873. 43 102.24 10. 92%
Overall sanitary ware 5, 489. 53 370.95% 3. 18%
Tile 23, 673. 07 54. 97% 13. 69%
Bathroom 6, 233. 47 57. 48% 3.61%
Bathroom cabinet 13,097. 35 4& 86% 7. 58%
Hardware Sanitary Ware 29,105. 53 39. 73% 16. 84%
Others 11,164.69 21.28% 6. 46%
Total revenue from main business 172,851.19 32. 48% 100.00%

Huida bathroom has grown by more than 370% in the first half of the overall bathroom revenue

Around the whole bathroom, Huida recently had a number of important actions. On the evening of August 3, Huida bathroom announced that the proposed capital increase of not more than 200 million yuan in Beiliu City, the new Shengda New Materials Co. After the capital increase, holding no less than 70% of the equity of the new Shengda. Huida bathroom investment in this case is obviously not only to enhance the production of tiles. Huida bathroom products include tile systems and SMC systems, and the use of rock panel bathrooms is also increasing. After the increase in capital, it holds no less than 70% of the equity of the new Shengda. Huida bathroom investment in this case is obviously not only to enhance the production of tiles. Huida bathroom products include tile systems and SMC systems, and the use of rock panel bathrooms is also increasing. The capital increase obviously also fits Huida’s bathroom development of the whole bathroom category corporate strategy.

The concept of Huida whole bathroom

From the channel, according to the news released by Huida bathroom on August 25, the company recently won the bid “Long Lake Group in 2021 – 2023 year crown apartment SMC system whole bathroom collection project”. It is reportedly involved in the project for the housing development of the real estate company’s rental housing. In addition to the Longhuguan apartment, Huida was recently also stationed in the Sichuan aviation base, Xiongan builder’s home, Shijiazhuang Huangzhuang apartment and other important projects. In addition to the Longhuguan apartment, Huida was recently also stationed in the Sichuan aviation base, Xiongan builder’s home, Shijiazhuang Huangzhuang apartment and other important projects. The channel layout around the whole bathroom is being successfully carried out.

The public notification of winning Huida bathroom

 

Seagull Sumitomo’s revenue of similar products “shrinkage” of nearly 70%

On the other hand, Seagull Sumitomo also released its semi-annual report on the evening of August 24. According to the report, the first half of Seagull Sumitomo achieved operating revenue of 1.983 billion yuan, an increase of 50.17%. Among them, the whole bathroom category revenue was 0.26 billion yuan, a decrease of 69.63% over the same period last year, accounting for only 1.31% of the total revenue in the first half.

  Current reporting period Same period of previous year Year-on-year increase or decrease
Amount Share of operating revenue Amount Share of operating revenue
By Products
Hardware Faucet Products 1,224,449,250.90 61.74% 852,088,803」7 64.53% 43.70%
Intelligent home products 82,137,189.36 4.14% 48,495,995.33 3.67% 69.37%
Bathtub ceramic products 105,274,145.70 5.31% 69,475,496.35 5.26% 51.53%
Complete bathroom 26,034,399.59 1.31% 85,713,709.96 6.49% -69.63%
Customized cabinets 131,197,274.24 6.62% 97,494,226.96 7.38% 34.57%
Tile 372,956,117.21 1&81% 134,181,131.74 10.16% 177.95%
Others 41,096,667.64 2.07% 33,121,472.05 2.51% 24.08%
By Region
Domestic 768,858,462.30 38.77% 549,233,106.69 41.59% 39.99%
Foreign 1,214,286,582.34 61.23% 771,337,728.87 58.41% 57.43%

Seagull Sumitomo fell nearly 70% in the first half of the whole bathroom revenue

For the active layout of the whole bathroom Seagull in recent years, the category’s revenue decline was unexpected. It is understood that Seagull Sumitomo began to include the whole bathroom category revenue in the financial report in 2018. In the three years from 2018 to 2020, the category’s revenue was 0.68 billion yuan, 183 million yuan and 203 million yuan, respectively, an increase of 100%, 170.22% and 11.02%. In the first half of 2019, there was an increase of 382.51%. In addition, the whole bathroom category revenue accounted for 3.05% of the total revenue in 2018, to 6.09% in 2020.

(Based on Seagull Sumitomo’s financial report data)

Starting from the first half of 2020, Seagull Sumitomo’s revenue in the whole bathroom category declined, falling by 7.91% in the current period. In the first half of this year, it continued its downward trend, with revenue decreasing by 69.63% and accounting for 1.31% of total revenue. But Seagull Sumitomo did not explain the reasons for the decline in revenue in this category.

Seagull bathroom products

It is understood that Seagull Sumitomo began preparations in 2015 to enter the custom bathroom field. The business currently has brands such as Nestle and Frontier, as well as Qingdao, Suzhou, Zhuhai, Jiaxing and a number of the intelligent manufacturing bases. In recent years, it has also acquired companies such as Jacopolo, Guangdong Nestle’s, Seagull Champion and Datong Nai to strengthen the whole installation business. seagull Sumitomo said in the report that it will strengthen custom whole bathrooms in the future to meet the demand for personalized customization of the whole bathroom. It will also expand its business to residential, ToC, EPC and commercial offices.

 

The market size will reach 16.5 billion yuan, and the competition is becoming more and more fierce

One side grew by 370.95% and the other side declined by 69.63%. This may be due to the differences in the time of entry and development mode and development base of different companies, but it also reflects the fierce competition in the industry. According to the Guangdong Provincial Building Materials Industry Association assembly building branch recently released the “2021 assembly bathroom development white paper”, it is expected that in 2018-2025, the overall bathroom main application market (hotel / apartment / residential) scale will expand from 1.6 billion yuan to 16.5 billion yuan, with a compound annual growth rate of 39.6%.

Under the market expansion, many companies have accelerated the pace of entry. In May this year, Panasonic exhibited at the Shanghai Kitchen & Sanitary Show to create a whole bathroom product in cooperation with Wishi Sumitomo, followed by the release of five major spaces, including the whole bathroom. In August this year, Hai Li bathroom welcomed a delegation from New City Holdings, reflecting the good cooperation between the two companies. It is reported that at present, the whole bathroom products of Haili have been stationed in a number of boutique projects of New City Holdings such as Xi’an Fengshi Joy Mansion. Emperor Sanitary Ware’s whole installation business is also developing rapidly. In addition to its deep cooperation with the United States Property, it has also reached strategic partnerships with more than 20 real estates companies such as Evergrande, Poly, Vanke, Beyoncé and Zhonghai.

The five major spaces released by Panasonic include the whole bathroom space

The vision is enlarged to the whole assembly field. Many companies have also recently competed for layout through acquisition and cooperation – Shell Finder intends to spend 8 billion yuan to acquire 100% of the equity of Shengdu Home Furnishing. Jingdong’s strategic investment has recently accelerated the whole installation business of Shangpinzha. Oppein joined hands with a number of installation enterprises to open a new model of “customization + installation enterprises” joint win whole installation. The cooperation between Zbom and Hushang Minghu is seeking to rapidly expand the whole installation market. This time let the whole installation market has become the darling of capital.

In the context of white-hot competition, it is expected that the different business conditions will become the norm. As a company, it is important to maintain the sustainability of development. It is perhaps the most important to ensure continuous output under the expanding market and to stand firm before standing tall.

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