New Consumer Daily, March 29. The main contents of today's New Consumer Daily include: Luo Yonghao talks about the expulsion of bad money from the Xiaomi SU7; several Xiaomi SU7 trademarks have passed preliminary examination; and the Yangtze River Delta Railway is expected to send 16.3 million passengers during the Qingming holiday.

Industry highlights

Xiaomi SU7 launched 24 hours ago, Dading 88898 units

On the evening of March 29, Xiaomi Auto released data showing that the SU7 went on sale for 24 hours, with 88,898 units.

In response to production capacity and delivery issues, Xiaomi Auto said that delivery of the original version of the Xiaomi SU7 began as early as April 3. Delivery of the non-original version of the Xiaomi SU7 and Xiaomi SU7 Max starts at the end of April, and the launch delivery time for the Xiaomi SU7 Pro starts at the end of May. For details, please refer to the estimated pick-up cycle when the app is selected. The current confirmation order continues to be popular, and the factory is making every effort to increase production capacity and fully mobilizing supply chain partners to ensure supply.

Suning Tesco released its 2023 financial report, net profit sharply reduced losses by 74.79% year on year

On the evening of March 29, Suning Tesco released its 2023 annual report. According to the announcement, in 2023, the sales scale of the company's home appliance business increased by about 11.9% year on year, achieving steady development faster than the industry. The company's net profit attributable to shareholders of listed companies fell sharply by 74.79% year on year, net cash flow from operating activities was 2.91 billion yuan, up 561.37% year on year, and the company achieved profit at the fourth quarter. The scale of the core home appliance 3C business grew rapidly, hematopoietic capacity was significantly enhanced, and business fundamentals continued to improve.

In 2023, the company will actively expand revenue channels. The primary and secondary markets focus on “opening big stores and opening good stores”, opening 210 new 3C home and lifestyle specialty stores throughout the year, and promoting the upgrading of core stores such as Suning Yijia to enhance the scene experience and increase sales transformation. The sales revenue of comparable stores increased 4.94% year-on-year during the reporting period. In the low-tier market, Suning Tesco Retail Cloud continued to develop rapidly. 2,686 new stores were opened throughout the year. As of December 31, 2023, the number of retail cloud retail cloud stores was 10,729, and the total sales scale of retail cloud channel products increased by more than 20% over the same period last year.

Sneaker and apparel agency Shenzhou International's sales fell by about 10.1% in 2023

Recently, the sports shoe and clothing agency Shenzhou International announced the 2023 annual results. According to the data, sales in 2023 reached about 24.97 billion yuan, down 10.1% from 2022; net profit after tax was about 4.557 billion yuan, a slight decrease of about 0.1% from 2022; and gross margin was about 24.3%, up about 2.2 percentage points from last year.

According to business classification, Shenzhou International's sales of sports products for the full year of 2023 fell by about 13.6% compared to last year, accounting for about 72.2% of the total. The announcement stated that the main reason was the decline in demand for sports products in Europe and the US. However, sales of leisure products fell slightly by 1.4% year on year, accounting for about 22.7% of total sales. The decline in performance was mainly due to demand for leisure products in Japan and other markets.

Xiaomi responds to the issue of not being able to refund the deposit

On the morning of March 29, after the Xiaomi SU7 went on sale, some consumers complained on rights protection platforms that the 5,000 yuan car deposit could not be refunded. In response, Xiaomi said that the deposit can be refunded without reason within 7 days. After 7 days, the vehicle configuration is automatically locked, and consumers can also actively lock the configuration in advance. Once the order is locked, the vehicle will enter the production stage, the configuration cannot be modified, and the deposit will not be refunded. Furthermore, the original version's current car configuration has been locked, and the consumer locked the order after paying a deposit of 20,000 yuan.

Luo Yonghao talks about the good money of the Xiaomi SU7 and the expulsion of bad money

Luo Yonghao wrote about the Xiaomi SU7, saying, “Getting almost 200,000 in all kinds of subsidies is enough to eliminate most fuel trucks, miscellaneous trams, and under-intelligent trams in this price range. Following the affordable mobile phone market, Xiaomi is likely to re-stage the epic scene of good money driving out bad money in the mass consumer car market.”

Anta opens the brand's first zero-carbon mission store

Recently, Anta opened the brand's first sustainable concept store (Anta 0 Carbon Mission Store) at No. 98, Wukang Road, Shanghai. The store area is about 450 square meters. It is expected to officially open in late April. According to reports, this is also the first net zero carbon store certified by an authoritative agency in the footwear industry in China. The entire process from products to packaging to decoration materials, from energy use to store operation, will work to reduce carbon emissions.

Chongqing Beer's net profit in 2023 increased 5.78% year on year

Chongqing Brewery announced that in 2023, it will achieve operating revenue of 14.815 billion yuan, an increase of 5.53% year on year, and net profit of 1,337 billion yuan, an increase of 5.78% year on year. The company plans to distribute a cash dividend of 2.8 yuan (tax included) per share to all shareholders.

Hisense Home Appliance's net profit in 2023 increased 97.73% year-on-year

Hisense Home Appliances announced that in 2023, it will achieve operating income of 85.6 billion yuan, an increase of 15.5% year on year, and net profit of 2,837 billion yuan, an increase of 97.73% year on year. The company plans to pay a cash dividend of 10.13 yuan (tax included) for every 10 shares.

Shanghai Airport's net profit in 2023 was 934 million yuan, reversing year-on-year losses

Shanghai Airport disclosed its annual report. In 2023, it achieved operating income of 11.047 billion yuan, an increase of 101.57% over the previous year; net profit of 934 million yuan, reversing the year-on-year loss. The company plans to distribute a cash dividend of 1.2 yuan (tax included) for every 10 shares to all shareholders.

Huangshanghuang's net profit in 2023 increased 129.01% year-on-year

Huangshanghuang disclosed its annual report. In 2023, it achieved operating income of 1,921 billion yuan, a year-on-year decrease of 1.7%; net profit of 705.855 million yuan, an increase of 129.01% over the previous year. The company plans to pay a cash dividend of 1.8 yuan (tax included) for every 10 shares.

Fuling Mustard's net profit in 2023 fell 8.04% year on year

Fuling Mustard released its 2023 annual report. Net profit returned to the mother in 2023 was 827 million yuan, a year-on-year decrease of 8.04%. It plans to pay 3 yuan for 10.

Helens turned a year-on-year loss into a profit in 2023

Helens announced its 2023 results: annual revenue of about 1,209 million yuan, annual profit due to company owners about 180 million yuan; adjusted net profit of about 280 million yuan; adjusted net loss of about 241 million yuan in 2022, turning a year-on-year loss into a profit.

As of December 31, 2023, the Group's pub network was reduced from 767 as of December 31, 2022 to 479. As of March 19, 2024, the number of the company's pub store network grew to 503.

Several of Xiaomi's SU7 trademarks passed the preliminary review

According to Tianyancha's intellectual property information, recently, the status of several “XIAOMI SU,” “XIAOMI SU7,” “Xiaomi SU 7,” and “Xiaomi SU” trademarks applied for registration by Xiaomi Technology Co., Ltd. changed to a “preliminary investigation notice” status. The above trademarks were all applied for in November 2023. The international classification covers transportation and storage, machinery and equipment, means of transport, etc.

The Civil Aviation Administration will focus on the urban scene to carry out pilot demonstrations of urban air traffic

Luo Hongjiang, deputy director of the Air Traffic Control Industry Management Office of the Civil Aviation Administration, explained that China's civil drones have taken the lead in industry popularization in agriculture, forestry, animal husbandry, fishing, and entertainment aerial photography. Management models and technical standards for urban scenarios and logistics applications have initially had a basis for widespread promotion. Operation practices on islands, mountainous areas, deserts, etc. continue to be carried out, and manned and manned flights have entered the testing and verification stage.

Currently, the drone logistics distribution business has been extended to urban business districts and communities, and the airworthiness certification of electric vertical take-off and landing (eVTOL) models is also progressing steadily, and the prospects for drone applications are generally optimistic. In the next step, the Civil Aviation Administration will strengthen planning, resources and business coordination, and carry out pilot demonstrations of urban air traffic, focusing on the urban scene.

JD Express expands “second morning delivery within the province” to 13 provinces and cities

In order to further enhance the service experience, on March 28, the two major products of JD Express were officially renamed and upgraded: “Express Delivery” was upgraded to “JD Express”, and “Special Delivery” was upgraded to “JD Standard Express”.

Among them, JD Standard Express mainly provides a faster delivery experience by strengthening land transportation capabilities. Since the acceleration of the time limit was announced in December last year, the coverage of JD Standard Express in the province has been expanded from 9 provinces and cities including Beijing, Shanghai, and Guangdong to 13 provinces and cities. In addition, JD Express's door-to-door pickup time has also been extended to 23:00 at the latest, and it can be delivered to the recipient as early as 8 a.m. the next day.

Hema requires some full-time employees to be outsourced

Recently, a full-time Hema employee said on social media that they were asked by Hema to switch to an outsourced employee, sign a labor agreement with a third party, and cancel the five insurances and one fund. At the same time, Hema stores in some cities have closed, causing the store's containers to be vacant. According to reports, several former employees have tried to apply for labor arbitration to seek compensation.

In response to the media, Hema said that it only targets piece-rate employees, resolves issues left over from history, and follows the principle of voluntarism.

What's new about going out to sea

In February, the import and export volume of China's balance of payments trade in goods and services was 323.08 billion yuan

In February 2024, the import and export volume of China's balance of payments trade in goods and services was 323.08 billion yuan. Among them, goods trade exports amounted to 1456.9 billion yuan, imports amounting to 125.92 billion yuan, surplus of 1977 billion yuan; services trade exports amounted to 194.7 billion yuan and imports amounted to 320 billion yuan, with a deficit of 125.4 billion yuan.

The main projects of trade in services are: the import and export scale of travel services is 142.5 billion yuan, the import and export scale of transport services is 136.4 billion yuan, the import and export scale of other commercial services is 90.9 billion yuan, and the import and export scale of telecommunications, computer and information services is 60.8 billion yuan. In dollar terms, in February 2024, China's balance of payments exports of goods and services was US$232.5 billion and imports were US$222.3 billion, with a surplus of US$10.2 billion.

Industry opinion newsletter

The Yangtze River Delta Railway is expected to send 16.3 million passengers during the Qingming holiday

I learned from China Railway Shanghai Group Co., Ltd., that the Yangtze River Delta Railway Qingming holiday transportation plan was recently introduced. This year, the Qingming holiday transportation will run from April 3 to 7, for a total of 5 days. The Yangtze River Delta Railway is expected to send 16.3 million passengers, an average of 3.26 million passengers per day, an increase of nearly 20% over the same period in 2019.

By the end of 2023, China had more than 1.26 million drones, a year-on-year increase of 32.2%

By the end of 2023, China had registered 1.267 million drones with real names, an increase of 32.2% over the previous year. In 2023, civilian drones flew a total of 23.11 million hours, an increase of 11.8% over the previous year.

Qingming travel bookings increased 128% year over year

The Qingming holiday is approaching, and Shanghai is experiencing a peak of pre-holiday reservations. We learned from travel platform data that Shanghai currently ranks first in the Qingming travel destination. The number of holiday reservations in Shanghai increased 128% year-on-year. Along with people's travel needs such as hiking and flower viewing, reservations for hotels around Shanghai's parks and characteristic homestays in the suburbs of the city are popular.

Agencies expect global smartphone shipments to rebound 3% in 2024

According to Counterpoint Research's “Global Smartphone Shipment Forecast”, global smartphone shipments are expected to grow 3% to 1.2 billion units in 2024. Driven by the recovery in the Caribbean and Latin America, India, and Middle East Africa markets, the lower middle and middle end markets ($150-249) will rebound. Thanks to the growth of Apple and Huawei, the high-end market ($600-799) is expected to grow 17% year over year.

Hurun released the “China High Net Worth People Brand Tendency Report”, high-end services are growing the fastest

According to the data, the size of China's high-end consumer market reached 1.66 trillion yuan in 2023, up 3% from the previous year. Experience consumption has increased significantly. Among them, consumption of high-end services (hotels, travel, health services, etc.) is growing the fastest. The market size reached 83 billion yuan, an increase of nearly 20% over the previous year. The size of the high-end tobacco, alcohol and tea market increased by 30 billion to 360 billion yuan over the previous year. The market size of traditional luxury goods (clothing, shoes, hats, cosmetics, jewelry, bags, watches, etc.) was 490 billion yuan (including local brands), up 8% year on year. High-end consumer electronics (including smart appliances) remained the same as last year, with a market size of 100 billion yuan.

Furthermore, the size of the luxury car market of 500,000 yuan or more continued to shrink, down 7% from the previous year to 580 billion yuan. Specifically, the market size of 500,000 to 1 million yuan contracted by 8%, while the ultra-luxury car market size of 1 million yuan or more declined slightly by 1%.