On November 22, Ningbo Fujia Industrial Co., Ltd. (stock abbreviation: Fujia Stock Code: 603219) made its initial public offering and officially landed on the A-share market. The successful landing in the capital market this time will further consolidate its position in the high-quality home appliance industry and accumulate strength for subsequent sustainable development.
It is understood that the initial price of Fujia shares was 9.56 yuan per share, a total of 41 million shares were issued, and the actual raised funds reached 392 million yuan. The fundraising investment of Fujia shares this time mainly includes the production and construction project of 5 million smart and efficient vacuum cleaner household appliances per year, the construction project of Vietnam production base, the construction project of intelligent household appliance research and development center, and supplementary working capital.
Clean home appliances well-known ODM supplier products supply domestic and international well-known brands
Fujia is mainly engaged in the research and development, design, production and sales of intelligent cleaning small household appliances such as vacuum cleaners, sweeping robots, and important parts such as brushless motors. The main products include high-efficiency separation wireless lithium-electric vacuum cleaners, high-efficiency separation wired vacuum cleaners, and multi-function wireless Mops, intelligent sweeping robots, and high-efficiency motors are among the “China’s Top Ten Vacuum Cleaner Export Companies” selected by the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.
With excellent product R&D and design capabilities and excellent product quality management level, after years of industry accumulation and year-round cooperation with well-known customers at home and abroad, Fujia has become a well-known ODM supplier in the field of clean home appliances. Well-known vacuum cleaner brand operators have established long-term and stable cooperative relations.
Fujia is one of the top ten vacuum cleaner export companies in the country. Its product sales area covers more than 30 countries and regions in North America, Europe, Asia and Oceania. Its customer groups include Shark, Electrolux, Dyson, Bissell, Stanley Black & Decker, G Tech Such as internationally famous vacuum cleaner brands; domestically, the company supplies products for domestic well-known brands such as Mijia, Shunzao, Haier, Supor, Puppy, etc.
Because of this, the performance of Fujia shares has achieved rapid growth in recent years. The prospectus shows that in 2019, Fujia achieved operating income of 1.103 billion yuan and realized net profit of 84.28 million yuan attributable to the parent; in 2020, realized operating income of 2.095 billion yuan and realized net profit attributable to the parent of 172 million yuan; January-September 2021, The operating income has reached 1.902 billion yuan, and the net profit attributable to the parent is 197 million yuan. During the reporting period, the company’s revenue, net profit, total assets and net assets maintained an overall growth trend, and the asset structure was relatively stable.
Master the core technology of clean home appliances and pass a number of quality system certifications
As a national high-tech enterprise, Fujia has the R&D, design and production capabilities of the core component motors of vacuum cleaners. The prospectus shows that since its establishment in 2002, Fujia has been focusing on the R&D and manufacturing of clean home appliances, mainly vacuum cleaners. It has been in the industry for nearly 20 years, during which time it has continuously improved product design, polished production technology, and improved product quality.
Fujia Technology Development Center was once rated as “Provincial High-tech Enterprise Research and Development Center” by Zhejiang Science and Technology Department, and the company’s research institute was rated as “Zhejiang Provincial Enterprise Research Institute”; “R&D and industrialization of key technologies for energy saving” won the first prize of Ningbo Science and Technology Award. The company focuses on the protection of intellectual property rights. Up to now, Fujia and its subsidiaries have a total of 203 patents, including 195 domestic patents and 8 overseas patents.
In terms of core technology, Fujia has the design and manufacturing capabilities of the motor, the core component of vacuum cleaners, and the motor products have the characteristics of high efficiency, low loss, and long life.
Fujia’s production line has also established a first-class quality management system. After certification, they are in line with GB/T19001-2016 standards and ISO9001:2015 standards. The products produced by the company comply with various industry standards such as safety certification standards, performance testing standards, machine life testing standards, hazardous substances standards and so on in China, the United States, and the European Union. They have obtained China CCC certification, International Electrotechnical Commission CB certification, and the United States. UL certification, US ETL certification, European Union CE certification, German GS certification, Singapore SafetyMark certification and Australian Global-mark certification.
Fujia’s products have superior performance, high quality, and low failure rate. They have been rated as “China Quality Integrity Enterprise” by China Entry-Exit Inspection and Quarantine Association, and “Quality Zhejiang Goods-Zhejiang Famous Export Brand” by Zhejiang Provincial Department of Commerce. The product quality is unanimously affirmed by the regulatory authorities.
The clean home appliance market has broad space for fund-raising enterprises to accelerate development
With the development of the global economy and the growth of the world‘s population, the market capacity of vacuum cleaners is gradually expanding. The retail volume of the global vacuum cleaner market has increased from 113 million units in 2014 to 133 million units in 2019, with a compound annual growth rate of 3.4% in the past five years. In terms of regions, Western Europe, North America and the Asia-Pacific region are the main vacuum cleaner consumer regions, with retail sales accounting for 31.2%, 27.5%, and 26.5% respectively, totaling more than 80%.
At present, the penetration rate of vacuum cleaners in the European and American markets exceeds 90%, and they are one of the small household appliances that are indispensable in people’s lives. The high penetration rate makes Europe and the United States only occupy a small part of the world‘s population, but the vacuum cleaner market accounts for more than 60% of the world.
my country is the world‘s largest producer of vacuum cleaners and one of the main consumers of vacuum cleaners. According to data from Aowei Cloud Network, the retail sales of the domestic vacuum cleaner market (including sweeping robots, electric mops, and mite removal devices) in 2018 was 19.4 billion yuan, a year-on-year increase of 32.1%. In 2019, the sales volume of vacuum cleaners nationwide (excluding Hong Kong, Macao and Taiwan) reached 17.915 million units, accounting for 13.5% of the total global sales volume of 133,0921 million units.
Judging from the overall situation in recent years, my country’s vacuum cleaner market has shown a trend of sustained high-speed growth. However, even after a long period of high-speed growth, my country’s per capita annual sales volume of vacuum cleaners still has a large gap compared with developed countries and regions. In the future, the vacuum cleaner market The room for growth is still huge. This has also brought huge market growth space to companies like Fujia.
It is understood that Fujia currently has an annual production capacity of 4 million small clean household appliances. According to the current customer order situation, the company’s products are already in short supply, and there is an urgent need to expand production capacity to meet customer needs. According to the company’s existing reserve technology, capacity facilities and sites, combined with the company’s production capacity expansion plans in Ningbo and Vietnam, the company will increase its production capacity to more than 8 million units in the next three years.
In addition, the company will focus on establishing in-depth cooperation with domestic and international high-end well-known brand merchants in the future, equipped with global sales outlets of well-known brand partners, and accelerate incremental expansion. The successful IPO will undoubtedly greatly enhance Fujia’s capacity, R&D and other strengths, and help it to accelerate the realization of its goal of becoming a leader in the high-quality clean small household appliances industry.Return to Sohu to see more
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