[年报]美的集团(000333):2021年年度报告全文（英文）
原标题:美的集团:2021年年度报告全文（英文） Thisisacenturyofchange.Afallingleafrevealsthecomingofthefall,andeachleaf,eachperson, can feel the changes of this great era. We would like to pay tribute to theperseverance and dedication of every Midea employee, helping us chase our dreamsregardlessofwhatthefutureholds.TheirstrongwillandyearningforthefuturehavebecomethestrengthtocontinuethesuccessandwarmthofMidea.WewouldalsoliketopaytributetoourshareholderswhohavebeenloyaltoMideaforsolong.Inaturbulentyearofhugechangesandmarketfluctuations,theirlong-standingtrustandinsistenceonlong-term value are invaluable. With a decade of transformation, Midea's revenueexceededRMB300billionforthefirsttime.Forthesixthconsecutiveyear,Mideawasincluded in the Fortune Global 500 list. Meanwhile, Midea was recognized as one of"ForbesChina2021Top10ChineseCompaniesinIndustrialDigitalTransformation".Also,fourfactoriesofMideahavebeenincludedinthe“GlobalLighthouseNetwork”initiatedbytheWorldEconomicForum.Evenmoreexceptionally,despitethesubstantialincreaseinvariouscostsrelatedtocommodities,shippinglogistics,andenergysupplies,Mideawasstillabletomaintainprofitability,demonstratingitsresilience.Thereisneitherabettereranoraworseera,onlyanewera.Thechangesofthetimeshaveledtodisruptivechangesinmanyindustries.Everymajorchangeandcrisisarelikebigwavesinthesea,andafterthewaveebbsaway,high-qualitycompaniesstandout.Inthisgreatera,nopathisentirelysmooth,norisanypathsetinstone,andagreatcompanywillinevitablyundergodifferentcycles.Inthisera,uncertaintyhasbecomethenormandpartofthemainstream,whilethepandemiccrisishasservedasanacceleratorforsomecompaniestoenhancetheircompetitivenessandforthecommercialcompetition.However,technology-driven transformation remains the main theme of the current era. Theemergenceandin-depthapplicationofartificialintelligenceanddigitaltechnologies,rapidchangesinuserneedsandthestrengtheningoftheawarenessofconsumersovereignty,aswellasthecontinuousupsanddownsofthemarkethaveallsignificantlypromotedtheprogressoftechnology-driventransformation.Mideaneedstotrulylistentothevoiceofthisera,faceuptoreality,seekcontinuousevolution,graspcertaintiesamiduncertaintiestobuildstrengths,andinnovateandchangeforgreatergrowthinordertoadapttothetimesandshapeabrighterfuture. Acompany either prospers in making changes or perishes in mediocrity.All seeds ofdestructionareplantedattheheightofbusinessprosperity.Allgoodness,excellenceandgreatnessaremeanttobebroken,justlikeallathleterecords.Adecadeofcourseresettingliesahead.WithagreatstorywovenbyallMideans,Mideamustbethefirsttoapplyindustry-leadingtechnologies,createasecondgrowthcurveattheoptimumtime,andopenupanewavenueforgrowth.Itmustalsoupgradeandtransformitselffromaworld-leadinghomeappliancemanufacturertoatechnology-andinnovation-drivengroupbycontinuallyreformingandchallengingitself.Inthecurrenttimeandthenewdecadeahead,Midea'skeybusinessprincipleistoimplementnewstrategiestoboostnewgrowthareas,includingnewbusinessmodels,newprocesses,newtechniques,newalternativematerials,newproducts, new technology breakthroughs, new brands, new channels, new marketingmethods,newnationalmarketbreakthroughs,amongothers.Innovationistodothingswehavenotdonebefore,anditrequiresourcourageandournewmindset. Ourmissionandvisionarethecornerstonesofoureverlastingbusinesssuccess.Mideahasrepositioneditsfivebusinesssegmentsandestablishedthenewstrategicfocusesof"Technology Leadership,Digitization& IntelligenceDriven, Direct to Users,andGlobalImpact".Intheprocessofimplementingnewstrategiestoboostthenewgrowthareas,operatingefficiencyisthekeytoMidea'ssurvivalandcompetitiveness,technologyandinnovationarethefoundationsofMidea,andthecustomer-orientedapproachisthestartingpointforallbusinesslogic. In this cold winter, we should further invest in the future, accelerate the upgrading ofexistingoperationsandthecreationoffurthergrowth,retainthe"NumberOneEngine"ofthecorehomeappliancebusiness,adheretolong-termtechnologyinvestment,thoroughlyoverallsmarthomebusinessimprovement.Wemustconsolidateourexistingstrengths.Meanwhile,giventhegrandbackdropofintelligentmanufacturing,energyconservationandemissionreduction,anddomesticsubstitution,wemustbedecisiveinourdeploymentandaccelerate the takeoff of our four core engines of robotics & automation, buildingtechnologies,energymanagement,andintelligenttravel.Mideawillcontinuetoimproveoperating efficiency, maintain the stability of profitability, advocate long-termism andaltruism,maketherightchoices,andinvestinthefuture,intechnologies,andintalent.Today,Mideaalreadyhasallthestrengthsnecessaryforgrowthoverthelongrun."FaithinaSeed"isourreviewofthepastandourexpectationsforthefuturetomarktheoccasionofMidea’s50thanniversary.ThismagnificenttreethatisMideatodaymustbefirmlybuilttogrowintoanevergreentree,onethathasathicktrunkandrootsreachingdeeplyintothesoilsothatthebranchesandleaveshavethenourishmenttheyneed.Thetrunk represents our core business, while the dense branches represent the furtherinnovationandgrowththatweneedtocreate.Midea'sadvancedgovernancemechanism,adaptivevaluesandideas,andmanagerialmindsetgrowtharetheessentialrootofthetreeofMidea.Onlyifitistrulybuilttogrow,willMideabeabletocontinueprosperingfarintothefuture. Thisturningpointwillpasseventually.Inthefaceofacenturyofgreatchangeandaturbulentworld,thereisnowayofknowingwhatwillhappen,butdedicationisthebestfarewell.Youthhasnoage,stayyounginside.Mideastaysyoungbecauseitdarestoreform,innovateandchallengeitself. Ifyoudon’tknowwheretogo,everyroadwilltakeyouahead.Aswemakeourwayforward,welookforwardtocontinuingtowitnessthesustainedgrowthoftheMideatreetogetherwithallourshareholders. BoardofDirectors,MideaGroup April2022 SectionIImportantStatements,ContentsandDefinitions The Board of Directors, the Supervisory Committee, directors, supervisors andsenior management of Midea Group Co., Ltd. (hereinafter referred to as the“Company”)herebyguaranteethattheinformationpresentedinthisreportisfreeofany misrepresentations, misleading statements or material omissions, and shalltogether be wholly liable for the truthfulness, accuracy and completeness of itscontents. Mr. Fang Hongbo, Chairman of the Board and CEO of the Company,Ms. ZhongZheng,CFOandDirectorofFinanceoftheCompany,andMs.ChenLihong,headoftheaccountingdepartmentoftheCompany,haverepresentedandwarrantedthatthefinancialstatementsinthisreportaretrue,accurateandcomplete. AlldirectorsoftheCompanyattendedtheBoardmeetingtoreviewthisreport.Thefutureplansandotherforward-lookingstatementsmentionedinthisreportshallnotbeconsideredaspromisesoftheCompanytoinvestors.Therefore,investorsarekindlyremindedtopayattentiontopossibleinvestmentrisks. TheBoardhasconsideredandapprovedthefollowingdividendpayoutplan:basedonthe6,869,123,038sharesatthedisclosuredateofthisreport(thetotalsharecapitalof6,997,053,441shares minus therepurchased 127,930,403shares in therepo securities account at that date), it is proposed that the Company shoulddistribute a cash dividend of RMB17 (tax inclusive) per 10 shares to all theshareholdersandshouldnotcarryoutanybonusissueorconvertcapitalsurplusintosharecapital. ThisreporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionContents LETTERTOSHAREHOLDERS..............................................................................................................2 SECTIONIIMPORTANTSTATEMENTS,CONTENTSANDDEFINITIONS.................................5SECTIONIICOMPANYPROFILEANDKEYFINANCIALRESULTS.............................................9SECTIONIIIMANAGEMENTDISCUSSIONANDANALYSIS........................................................15SECTIONIVCORPORATEGOVERNANCE...................................................................................110 SECTIONVENVIRONMENTALANDSOCIALRESPONSIBILITY.............................................151SECTIONVISIGNIFICANTEVENTS...............................................................................................182 SECTIONVIICHANGESINSHARESANDINFORMATIONABOUTSHAREHOLDERS......207SECTIONVIIIPREFERENCESHARES..........................................................................................218 SECTIONIXBONDS...........................................................................................................................219 .................................................................................................... SECTIONXFINANCIALREPORT 223 DocumentsAvailableforReference 1.TheoriginalofThe2021AnnualReportofMideaGroupCo.,Ltd.signedbythelegalrepresentative; 2.Thefinancialstatementssignedandstampedbythelegalrepresentative,theCFO&DirectorofFinanceandtheheadoftheaccountingdepartment; 3.Theoriginaloftheauditor’sreportwiththesealoftheaccountingfirm,andsignedandstampedbyCPAs; 4.TheoriginalsofallcompanydocumentsandannouncementsthataredisclosedtothepublicvianewspaperdesignatedforinformationdisclosureduringtheReportingPeriod;and 5. The electronic version of The 2021 Annual Report that is released onhttp://www.cninfo.com.cn. Definitions
1.CorporateInformation
AccountingfirmengagedbytheCompany
□Applicable√N/A FinancialadvisorengagedbytheCompanytocontinuouslyperformitssupervisoryfunctionduringtheReportingPeriod □Applicable√N/A 6.KeyAccountingDataandFinancialIndicators WhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata
TheMinistryofFinancehasissuedin2021theCircularonAdjustmentstotheApplicationScopeoftheRegulationsofAccountingTreatmentsforRentalWaiversasaResultofCOVID-19(CK[2021]No.9),theCircularonIssuingInterpretationNo.14oftheAccountingStandardsforBusinessEnterprises(CK[2021]No.1),theQ&AfortheImplementationoftheAccountingStandardsforBusinessEnterprises,andtheCircularonIssuingInterpretationNo.15oftheAccountingStandardsforBusinessEnterprises.TheGrouphaspreparedthefinancialstatementsfortheyearended31December2021accordingtotheaforesaidregulatorydocuments.Forfurtherinformationaboutthechangestotheaccountingpolicies,pleaserefertoNote2(31)tothefinancialstatements. TotalsharecapitaloftheCompanyonthelasttradingsessionbeforedisclosure:
□Yes√No Indicatewhetherthelowerofthenetprofitbeforeandafternon-recurringgainsandlosseswasnegative.□Yes√No 7. Differences in Accounting Data under Domestic and Overseas AccountingStandards 7.1DifferencesinthenetprofitandnetassetsdisclosedinthefinancialreportspreparedunderChinaAccountingStandards(CAS)andInternationalFinancialReportingStandards(IFRS)□Applicable√N/A NosuchdifferencesfortheReportingPeriod. 7.2DifferencesinthenetprofitandnetassetsdisclosedinthefinancialreportspreparedunderCASandforeignaccountingstandards □Applicable√N/A NosuchdifferencesfortheReportingPeriod. 7.3Reasonsforthedifferences □Applicable√N/A 8.KeyFinancialResultsbyQuarter RMB'000
9.Non-recurringGainsandLosses √Applicable□N/A RMB'000
NosuchcasesfortheReportingPeriod. ExplainthereasonsiftheCompanyclassifiesanitemasarecurringgain/lossitem,whichisenumeratedasanon-recurringgain/lossinthe NosuchcasesfortheReportingPeriod. SectionIIIManagementDiscussionandAnalysis 1.IndustryOverviewfortheReportingPeriod 1.1Summaryofbusinessscope Mideaisaglobaltechnologygroupcomprisingfivemajorbusinessdivisions:theSmartHomeBusinessGroup,theIndustrialTechnologyBusinessGroup,theBuildingTechnologiesDivision,theRobotics&AutomationDivision,andtheDigitalInnovationBusiness.Mideaoffersdiversifiedproductsandservices.Specifically,theSmartHomeBusinessGroup,asthemainoperatingentityofsmartappliances,smarthomeandrelatedperipheralindustriesandecologicalchains,undertakestheconstructionofintelligentscenariosforendusers,useroperationsanddatavaluediscovery,andiscommittedtoprovidingthebest experience of whole-house smart home appliances and service. The Industrial TechnologyBusinessGroupiscapableofcarryingoutprofessionalR&D,production,andsalesofhigh-precisioncorecomponentssuchascompressors,motors,chips,variablefrequencydrive,servosystems,andcooling modules. It operates many brands including GMCC, Welling, MR, TOSHIBA, HICONICS,SUNYE,SERVOTRONIX,DORNA,etc.,withitsproductswidelyusedinhomeappliances,3Cproducts,newenergyvehiclesandindustrialautomation,amongothers.TheBuildingTechnologiesDivisionisresponsibleforprovidingproductsandservicesinrelationtobuildings,aswellastherelevantoperations.With the digitalbuilding service platformas the core, it facilitates logistics, information, feeling and energy flows of buildings to provide complete building solutions that are intelligent, digital andlow-carbon.TheRobotics&AutomationDivisionprimarilyfocusesonprovidingsolutionsofindustrialrobotics,automaticlogisticssystems,andtransmissionsystemsforfuturefactory-relatedfields,aswellas solutions for health care, entertainment, new consumption, etc. The Digital Innovation BusinessprimarilyincludesnewbusinessarisingfromthebusinessmodeltransformationofMideaGroupsuchasintelligentsupplychainsandIndustrialInternet,whichcanprovidesoftwareservices,unmannedretailsolutions, and production services, among others, for the digital transformation of enterprises. The DigitalInnovationBusinessalsocomprisesBeijingWandongMedicalTechnologyCo.,Ltd.(WDM)thatisengagedinmedicalimagingdevicesandrelatedservices. With“BringGreatInnovationstoLife”asitscorporatevision,“IntegratewiththeWorld,toInspireYourFuture”asitsmission,“Embracewhat’snext-Aspiration、CustomerFirst、Innovation、Collaboration、Dedication” as its values, “High-quality Development and High-performance Operations” as itsmanagementandoperationstandard,Mideaintegratesglobalresourcesandpromotestechnologicalinnovationtocreateabetterlifeforover400millionusers,majorcustomersandstrategicpartnersindifferent areas worldwide every year with satisfying products and services. In face of higherrequirementsforproductsandservicesinthedigitalInternetera,Mideahasupgradeditsstrategicfocusto“TechnologyLeadership,DirecttoUsers,Digitization&IntelligenceDriven,andGlobalImpact”,soastorebuildMideainthenewera. Midea,aglobaloperatingcompany,hasnowestablishedaglobalplatformwitharound200subsidiaries,35R&Dcenters,35majormanufacturingbases,andmorethan160,000employees.Itsbusinesscoversmore than 200 countries and regions. Overseas, Midea has 20 R&D centers and 18 majormanufacturingbasesinmorethantencountries,witharound30,000employees.22currenciesareusedbyMideainsettlement.Inaddition,MideaisthemajorityshareholderofKUKA,aGermany-basedworld-leadingcompanyinroboticsandautomation,withastakeofapproximately95%.1.2Positioninhomeapplianceindustry MidearanksNo.183onthe19thForbesGlobal2000listreleasedinMay2021,movingup46placescomparedtolastyear.Meanwhile,itislistedin“ForbesChina2021Top10ChineseCompaniesinIndustrial Digital Transformation” and “Forbes China 2021 Top 10 Chinese Companies in IndustrialInternet”.Inaddition,itranksNo.288ontheFortuneGlobal500listunveiledinAugust2021,movingup19placesfromtheyearbeforeandmarkingitssixthyearonthelist.InSeptember2021,MideawontheChina Quality Award at the fourth such event with its “5 All 5 Digitalization" intelligent qualitymanagement model. Up to early 2022, four factories of Midea have been included in the “GlobalLighthouse Network” initiated by the World Economic Forum, covering air conditioners, microwaveovens,refrigeratorsandlaundryappliances,whichrepresentsMidea’sleadingintelligentmanufacturinganddigitalcapabilitiesacrosstheglobalmanufacturingsector.Meanwhile,MideatakestheleadamongdomestichomeappliancemakersbyrankingNo.36onthe2022BrandFinanceTech100listreleasedBrandZ?Top100MostValuableChineseBrandslist,withitsbrandvalueup58%.Mideahasbeengivenexcellentcreditratingsbythethreemajorinternationalcreditratingagencies,Standard&Poor’s,FitchRatingsandMoody’s.TheratingsareinaleadingpositionamonghomeappliancemanufacturersworldwideaswellasamongChinesenon-state-ownedenterprises.Meanwhile,Standard&Poor’shasraised the credit rating on Midea from “A-” to “A” in 2021, making Midea the highest-rated private manufacturerinChina. AccordingtodataproviderAVC,Midearanksfirstwithrespecttoboththeonlineandofflinedomesticmarket share for seven out of the 25 major home appliance categories, namely, residential airconditioners,clothesdryers,ricecookers,electricfans,electricpressurecookers,inductioncookersandelectricradiators.ThisisbecauseMideahassuccessfullyretainedthe"NumberOneEngine"ofToCbusinessin2021onthedomesticmarket. The table below shows the offline market shares and rankings of the Company’s primary homeapplianceproducts(byretailsales)in2021:
A.HomeApplianceIndustry 2021sawastrongreboundofChina’seconomy,whichbecameincreasinglystablewithanupturn.Thehomeapplianceindustryovercameadversefactorssuchasthepriceupsurgeofrawmaterialsandthechip shortage in the manufacturing industry.The overall development of the industry maintained apositiveandhealthytrend,withcontinuedstronggrowthinexportsandfurtherrecoveryinthedomesticmarket.Accordingtothe2021AnnualReportofChina’sHouseholdElectricalApplianceIndustryjointlypublishedbytheChinaHouseholdElectricApplianceResearchInstitute(CHEARI)andtheNationalHouseholdElectricalApplianceIndustryInformationCenter,in2021,thedomesticretailsalesofhomeapplianceswasRMB754.28billion,up3.4%year-on-year;andtheexportsofhomeappliancesreachedRMB638.2billion,up14.1%year-on-year,asshownbydatareleasedbytheCentralAdministrationofCustoms. Currently, the world is still in a grave and complex situation due to the pandemic, withunprecedented challenges for economic development. Nevertheless, in the medium and long run,upgradingoftheindustrialstructure,stableincreaseofhouseholdincome,diversifiedconsumption,thenationalpolicysupportforthegreenandsmartindustries,aswellasupgradingofthestandardsforhomeapplianceswillcreatenewopportunitiesandgrowthpoints.Fromtheperspectiveofindustrytrend,first,thehomeapplianceindustrypresentshorizontalcross-borderdevelopmentwiththeintegrationofhomedecoration,homefurnishingandhomeappliances.Homeappliancemanufacturersexpandtheirbusinesshorizontallyincooperationwithdistributionchannels,advancingtowardsastrategicdirectionofhomeappliances+homefurnishing.Whole-housecustomizationandwhole-houserenovationhavebeenincorporatedintotheirlineofbusiness.Second,homeappliancemanufacturersdisplayverticalsuchascapturinglifestyletrends,tappingintouserneeds,addressingpainpoints,promotingproductinnovationandprovidingqualitylivingwillshapethedevelopmentofnewproducts.Third,theproductisalwaysthecornerstone.Userexperiencecanbeenhancedfromthedimensionsofsafety,easeofuseandwellness,whichcontributetoproductcompetitiveness.AlthoughChina'swhitegoodsmarkethasenteredamaturedstage,consumptionupgradingremainsevidentandhigh-endhomeapplianceswithhighenergyefficiencyaimedatimprovedqualityoflifestillhavegreatpotentialfordevelopment.AccordingtothedatafromtheNationalHouseholdAppliancesIndustryInformationCenter,thedomesticretailsalesofairconditionerswasRMB154.5billionin2021,up4.8%yearonyear.Intermsofsaleschannel,onlinechannelsalesaccountedfornearly45%,amountingtoRMB69billion,up14.1%yearonyear.Intermsofcompetitionpattern,theconcentrationofofflineairconditionermarketsharewasfurtherimproved,andthemarketsharebyunitsalesofthetopthreeenterprisesintheindustryexceeds83%totally.Intermsofproductperformance,themarketshareofproductswithhighenergyefficiencykeptrising,andthepricestructurewasfurtheroptimized,amongwhich,intheofflineairconditionermarket,theunitsalesofinverterproductsincreasedtoover98%,theunitsalesofEnergyEfficiencyClass1productsincreasedtoover70%,andtheunitsalesofproductswithaunitpriceofoverRMB2,000increasedto87%.Intermsofproductfunction,thefunctionsofairconditionershavebeenexpandedfromcoolingandheatingtoself-cleaning,humidity,aircleannessandfreshness,etc.Asthecomfortofproductexperiencehasbeenfocusedon,thefreshairfunctionproductshavedevelopedrapidly,andthemarketsegmentshavefurtherdeveloped,suchastherapiddevelopmentofairconditionersthatareapplicableforkitchenscenesandtheelderlyandportableairconditioners.AccordingtothedatafromtheNationalHouseholdElectricalApplianceIndustryInformationCenter,thedomesticretailsalesoflaundryapplianceswasRMB71.4billionin2021,up8.7%year-on-year,withtheonlinesalesaccountingforover52%oftotalsales.Intheupgradeofthelaundryappliancemarket,intermsoftheproducttypes,themarketshareoffront-loadingproductskeepsgrowingstably,withtheoffline market share (by unit sales) climbing to 52.5% (32.5% for front-loading washer-dryers).Meanwhile,asconsumersarepayingmoreattentiontohealth,theofflinemarketshares(byunitsales)of laundry appliances with sterilization and mite elimination functions rose to 54.5% and 22.8%respectively in 2021. Washing capacity continued to be upgraded, with large-capacity productsincreasinglyreplacingsmall-capacityones.Theofflineunitsalesof10kg-12kgwashersoccupieda60%marketshare,withayear-on-yearincreaseofover11%.Meanwhile,mid-andhigh-endproductssawamuchbiggershareintheofflinemarketbyunitsales.Togiveanexample,productswithaunitpriceofoverRMB5,500tookupamarketshareof20%.Thedryingfunctionbringstheadvantagesofsavingtime,beingconvenient,non-ironing,andsavingspace.AsChina’sclothesdryertechnologiesbecomemoremature,theheat-pumpclothesdryerexperiencedfastgrowthduring2021andhasdominatedthedomesticofflinemarket. AccordingtothedatafromtheNationalHouseholdElectricalApplianceIndustryInformationCenter,thedomesticretailsalesofrefrigeratorswereRMB99.9billionin2021,up7.4%year-on-year.Themarketshareconcentrationoftheleadingbrandsinthedomesticrefrigeratormarkethasbeenfurtherenhanced.Due tothe impactsofrising rawmaterial pricesand structuralupgrading,structuralupgradingwasevidentwithrefrigeratorsofdifferentprices,withtheofflinemarketshare(byunitsales)ofproductspricedoverRMB7,000exceeding20%.Asseenfromthechangeofmulti-doorrefrigeratormarketshare,thosewithmorethanfourdoorshavebecometheabsolutemainstreamintheofflinemarket,withamarketshareof45.3%byunitsales.In2021,theofflinemarketshare(byunitsales)ofrefrigeratorswithanover-400Lcapacitywascloseto60%.Consumer'sintensifiedwillingnesstopursuequalitylifehaspromptedtherefrigeratormarkettopivottowardshigh-endmulti-dimensionaldesign,whichismainlymanifestedas"goodlooking","capacious","fresh",and"intelligent".Inotherwords,betterappearancedesignandmaterial,largercapacityandstructure,improvedstorageandpreservationtechnology,andmoresmartapplications. AccordingtothedatafromtheNationalHouseholdElectricalApplianceIndustryInformationCenter,thedomesticretailsalesofkitchenapplianceswasRMB174.8billionin2021,up4.3%year-on-year.Asdishwashersbecamemorepopularonthedomesticmarket,theretailsaleswereclosetoRMB10billion,withtheonlineandofflinesalesrecordingyear-on-yearincreasesof11.9%and12.4%,respectively.Andproductupgradingcontinued.Integrationofmorefunctionssuchaswashing,sterilization,dryingandstorage emerged. Built-in large-capacityproducts sawasubstantially biggermarket share, with theofflinemarketshareofdishwasherswith13placesettingscapacityreaching25.6%byretailsales.Andtheaveragepriceofdishwasherswentup8.5%year-on-yearontheofflinemarket.Intermsofthecompetitionlandscape,thetopthreemanufacturerssawexpandingmarketsharesdomestically,withtheir combined offline market share exceeding 50% by unit sales. Integrated stove sales reachedRMB24.5billioninthedomesticmarket,anincreaseof38.8%year-on-year.Duetothesurgeindemandforhigh-endkitchenappliances,inparticularsteamersandovensasaresultofthepandemic,integratedstoveproductshaveevolvedrapidly.Theall-in-onemodelswithkitchenhood,stove,steamerandovenhavedevelopeddramaticallyandbecomethecategorywiththelargestofflinemarketshare,withtheofflinemarketshareofproductspricedoverRMB13,000reachingashighas57.4%byunitsales.Smartproductswithmultiplefunctionsarethetrend.Forinstance,intelligentvoicecontrolfunctionwillbebuiltintodeliveramoreconvenienthandlingexperience,andintegrationofdifferentcookingmethodssuchassautéing,stir-frying,stewing,bakingandsteamingenablesthemulti-cookingscenariopossible.AccordingtothedatafromtheNationalHouseholdElectricalApplianceIndustryInformationCenter,thedomesticsalesofsmalldomesticapplianceswasRMB117.4billionin2021,down8.6%year-on-year,ofwhichtheonlinesalestookupapercentageof70.9%.Withrespecttothemarketperformanceofallcategories, due to weak demand for traditional products, the high base in 2020 caused by the“stay-at-home”policyasaresultoftheCOVID-19pandemic,aswellasnaturalfactorssuchasthetemperature and air quality, small kitchen appliances and environment appliances underperformed,whilethemarketofemerginghealth-friendlysmalldomesticappliancesforpersonalcaretoldadifferentstory. The diversified and individualized consumer needs have resulted in rapid growth for theseproducts,drivingtheemergenceofmorenicheproducts.Thesalesofhealth-friendlyvacuumcleanerswereoutstandingduetothepandemic.In2021,thedomesticsalesofvacuumcleanerswereRMB26.6billion, up 14.5% year-on-year. By categories, robot cleaners embraced new functions such asself-cleaning,cleaningbase,dustcollectingbaseandautomaticwaterfilling.Theiraveragemarketpriceincreased considerably, with the online price up nearly 44% year-on-year.As the needs for housecleaningcontinuetogrow,multiplenewcleaningappliancessuchasscrubbersandsteammopshaveemerged.Thankstotheadvancementoftechnologyandmorehuman-friendlydesign,suchasrollerbrushthatcanself-cleaninrealtime,lighterbodyweight,andlessnoise,theonlineandofflinemarketshares(byretailsales)offloorscrubberssurged244.7%and779.6%respectivelyyear-on-year.AccordingtothedatafromtheNationalHouseholdElectricalApplianceIndustryInformationCenter,theonline retail sales of home appliances in China amounted to RMB368.01 billion in 2021, up 9.3%year-on-year, accounting for a market share of 48.8%; while the offline retail sales amounted toRMB386.27 billion, down 1.7% year-on-year, accounting for 51.2%. Online sales channel of homeappliancesinthepastdecadeorsohasmadeitswayfromscratchtoexpansion.The2020pandemichasonceagainpushedittoanewheight,butnowwiththegeneralresumptionofofflineshopping,theonlinechannelhasusheredinaperiodofrelativestability.Intermsofsales,thesalesstructureofeachchannelinthedomesticmarketremainswelloptimized,withhigh-end,healthyandintelligenthomeappliancesgainingaprominentpresence.AccordingtothedatafromtheNationalHouseholdElectricalApplianceIndustryInformationCenter,in2021,bothonlineandofflinemarketsalesofmedium-andhigh-end products, suchas self-cleaning airconditioners, crossfour-door refrigerators, front-loading washer-dryers,gaswaterheaterswithzerocoldwaterandrobotcleaners,havefurtherimproved.B.RoboticsandIndustrialAutomationIndustry World Robotics 2021 Industrial Robotics released by the International Federation of Robotics(hereinafterreferredtoas"IFR")showedthattherewillbefivetrendsinrobotindustryin2022,whichrefertothatrobotswillbeappliedtomorenewindustries,itwillbemoreeasytooperaterobots,theskillsofrobotsandworkerswillgetpromoted,robotswillguaranteemanufacturing,androbotswillsupportdigitalautomationtechnology.Globalrobotinstallationsreboundedstronglyin2021,withIFRprojectinga 13% increase of global robot installations, amounting to 435,000 units. In particular, Americasachievedanincreaseof18%yearonyear,Europeachievedanincreaseof7.4%yearonyear,andAsiaachievedanincreaseof15%yearonyear.IFRalsopredictedthatthegrowthrateoftheglobalindustrialrobotics industrywill slow down relativelyfrom2022 to 2024, and the annual new installationswillexceed510,000unitsin2024. IFRdatashowedthattheCAGRofthesalesofindustrialroboticsinChinafrom2015to2020exceeded20%,andtheinstallationofindustrialrobotscontinuedtorankfirstintheworld.In2021,inspiteoffacingmultiplechallengessuchasthe epidemic,chipshortagecrisis,rawmaterialshortage,supplychainpressure,powersupplytensionandrisingtransportationprices,withunstableoverseasepidemic,Chinacontinuedtotakeoverseasmanufacturingorders.Besides,COVID-19promotedenterprisestousetheepidemicinChina.AccordingtothedatareleasedbytheNationalBureauofStatistics,thedomesticproductionvolumeofindustrialroboticsachievedto366,044unitsin2021,up44.9%yearonyear,whichhitanewrecord.Simultaneously,in2021,relevantfinancingintheindustrialroboticsfield retainedheated,whileIndustrialInternetofThings,collaborativerobotics,logisticsandmedicalrobots,and3Dvision and sensors were the most remarkable fields. In terms of industries, as the new energyautomobile drove the automobile industry to return to prosperity and the demand for 3C products,lithium-ionandphotovoltaicwasstrong,theapplicationofrobotingeneralindustrialfieldswasfurtherexpanded,andnewopportunitiesappearedfortheapplicationofrobotinnon-industrialfields.Intermsofmodels,MIRdatashowsthatSCARArobots,collaborativeroboticsandsix-axisroboticsallpresentedhighgrowthmomentum,amongwhichtheshipmentofsix-axisroboticsbelow20kgin2021roseby48%yearonyear,whilesix-axisroboticsabove20kghitanewrecord,whoseyear-on-yeargrowthreached64%afterthreeconsecutiveyearsofnegativegrowth,andeventheyear-on-yeargrowthofcollaborativeroboticswasmorethan100%.（未完）  |