今年以来，飞科电器进一步聚焦中高端市场，同时基于95后、00后年轻消费者的消费特征，以科技、经典、潮流、IP文化四大方向推动产品研发智能化、时尚化、年轻化升级。Shanghai Flyco Electrical Appliance's net income in Q3 fell by over 30%, with Director Hu Ying stating that it was mainly due to the dual impact of the company's global strategy adjustment transition period and changing consumer environment. Shanghai Flyco Electrical Appliance stated that the year-on-year increase in sales expenses was mainly due to changes in the market environment and the launch of more new products this year, leading to increased investments and online promotions.
On November 26th, the revenue and net income of Shanghai Flyco Electrical Appliance (603868.SH) both declined in the first three quarters of this year, with a single-quarter net income decline of over 30% in Q3. Hu Ying, the financial director of Shanghai Flyco Electrical Appliance, stated at today's company's 2024 third-quarter performance briefing that the company's revenue decreased mainly due to the double impact of the company's global strategy transition period and changing consumer environment during the reporting period; at the same time, the company launched multiple new products, increased investments and online promotions, resulting in increased costs dragging down performance.
In the context of the current issues faced by the home appliance industry, including insufficient market demand, lack of consumer confidence, low prices, has the company's strategy in research and development and sales undergone any changes? Director and President Li Gaiteng of Shanghai Flyco Electrical Appliance told reporters from Caisheng Society, "The company continues to steadily promote the established strategy of brand upgrade through technology innovation and high-end design, focusing on promoting the newly launched innovative products."
Since this year, Shanghai Flyco Electrical Appliance has further focused on the mid-to-high-end market, driving product research and development towards intelligence, fashion, and youth upgrades based on the consumption characteristics of post-95s and post-00s young consumers in the fields of technology, classics, trends, and IP culture.
According to reporters from Caisheng Society, the company has successively launched multiple innovative products this year, including the trendy and portable shaver machine MechCool, the reciprocating shaver F005, the dual-electric direct-drive portable shaver Feike U1, and the reciprocating portable shaver FS685.
Regarding overseas expansion, Director Secretary Guo Jiaguang of Shanghai Flyco Electrical Appliance stated that the company is currently focusing on emerging markets such as Southeast Asia, Africa, and the Middle East, accelerating comprehensive work on team building, product and channel planning, overseas intellectual property layout, and international patent registration for key products in selected overseas markets.
Financial data shows that in the first three quarters of this year, Shanghai Flyco Electrical Appliance achieved revenue and net profit attributable to shareholders of 3.321 billion yuan and 0.465 billion yuan respectively, a year-on-year decrease of 16.85% and 43.82%; sales expenses were 1.164 billion yuan, compared to 1.122 billion yuan in the same period last year. The net profit attributable to shareholders in the third quarter was 0.149 billion yuan, a decrease of 31.84% year-on-year.