On the evening of March 22, NVC Lighting (02222.HK) released its 2017 annual report. From January to December 2017, the company achieved operating income of 4.063 billion yuan, an increase of 6.7% year-on-year; gross profit of 1.173 billion yuan, an increase of 14.9%; The profit attributable to owners of the parent company was 314 million yuan, an increase of 108.2% year-on-year.
During the reporting period, sales of lighting products increased by 9.0%. This was mainly due to the successful transformation of the Group's dual-channel business model of commercial lighting and home lighting, and the steady sales of commercial lighting and home lighting products;
The sales of light source products decreased by 2.6%, mainly due to the gradual reduction of the market capacity of traditional light source products, the continuous decline in sales volume and prices; sales of lighting electrical products increased by 19.8%, which was attributed to the Group's increase in non-NVC brand LED lighting during the reporting year. The sales of electrical products and market resources, the sales orders of non-NVC brand LED lighting electrical products of major international customers increased steadily.
In addition, LED lighting products sales increased by 17.4%, non-LED lighting products sales decreased by 19.1%. NVC Lighting said that it is mainly a favorable opportunity for the Group to seize the LED lighting industry's consumer demand and market penetration. By continuously strengthening LED lighting new product research and development, channel expansion and market resource investment, it has successfully seized the market share of LED lighting products; Due to the fierce competition of lighting products, the sales of traditional lighting products have shrunk, and both have shown a trend of change.
Looking back at NVC Lighting in 2017, NVC Lighting has strengthened its brand building and channel construction under the two-wheel drive of “Business Photo + Home†and achieved good results. The growth of its 2017 annual performance is the best proof.
Today, NVC Lighting is not only a leading company in the Chinese lighting industry, but also a global brand with strong brand power. NVC is the top ten lighting company in the UK and the fastest growing top ten emerging lighting company in the United States. The development of NVC confirms that Chinese companies must transform and move toward higher technology and more core brands. .
With the continuous upgrading of the domestic consumer market, young people after 80-90 have become the main consumer power. Young people with ample economics tend to buy consumer upgrades with good design and good functionality. In February 2017, NVC Lighting held hands with Jingdong to release the new brand “Dongdongâ€. “Dongdong†is a pan-home brand exclusively for young people launched by NVC and Jingdong.
The strategic cooperation with JD is the more cooperative cooperation of NVC Lighting in the smart home ecosystem. Previously, NVC Lighting has cooperated with the Chinese Academy of Sciences and Haier Home to explore the development model of smart home.
Entering August 2017, NVC Lighting once again took a strong attack with Leeds Castle. It is reported that "Leeds Castle" is a new European and American pan-home brand launched by NVC.
Up to now, NVC Lighting's brand layout in home lighting mainly includes mainstream mass brand "NVC", online designer brand "Dongdong", high-end new Chinese-style pan-home brand "West Lake Smoke", high-end modern minimalist pan-home brand "Berkeley", as well as the high-end European and American luxury brand "Leeds Castle".
At the 2017 (14th) World Brand Conference held in June 2017 and the 2014 (14th) China 500 Most Valuable Brands Conference, NVC Lighting was once again on the list with a brand value of 20.685 billion. Maintaining the number one position in the lighting industry for six years.
In terms of channels, NVC Lighting has established a comprehensive user retail support system. We have built and improved a project-centric service support system, a customer-centric butler-style service system, and a user-centered interactive experience service system.
At the year-end meeting of NVC's 2017 management, NVC Lighting Chairman emphasized that channel construction is still the most important work for NVC's development. In 2018, the channel construction speed needs to be deepened and accelerated; Sexual product development and speed up the layout of smart lighting products.
To this end, NVC has signed a cooperation framework agreement with Dehao Runda and Wang Donglei to sell the domestic LED lighting products manufacturing business to major shareholders. Moreover, NVC has also entered into trading with Hong Kong Luoman International Co., Ltd. (seller). Agreement, NVC plans to spend 315 million to purchase lighting distribution channels.
It can be said that NVC Lighting is gradually implementing the strategy of transforming from manufacturing enterprises to channel enterprises in 2018.
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