Launched a new round of reforms in early 2016, focusing on management reforms, business reforms, and resource allocation reforms. This has enabled China’s consumer electronics giant Changhong to steadily increase its operating capability and its business performance has gradually improved. Various major business transformations have entered a fruitful outcome. New stage.
The newly announced Sichuan Changhong 2016 annual report and 2017 first quarter report show that: In 2016, the company's revenue reached 67.175 billion yuan, an increase of 3.59% year-on-year; net profit was 555 million yuan year-on-year increase of 128.11%. In the first quarter of 2017, the company's revenue reached 16.629 billion yuan, an increase of 7.93% year-on-year, and continued to maintain a steady growth momentum. This also reflects on one side. In the past year or so, a series of drastic reforms within the company have achieved initial success.
Fundamentals: Full bloom of main business
In 2016, Changhong TV sales increased by 5.9% year-on-year, gross profit margin increased by 3.6 percentage points, and smart, large-screen (55+) accounted for a year-on-year increase of 21% and 12% respectively. In July last year, Changhong launched the world's first artificial intelligence TV, breaking the longstanding homogeneity barrier in China's color TV industry and sparking attention and follow-up of the entire color TV industry.
In that year, Meiling Refrigerator continued to set off a storm of popularity of inverter refrigerators. The revenue of refrigerators (cabinet) increased by 11.5% year-on-year, and inverter refrigerators accounted for 32% of shipments, maintaining the leading position in the country. 13 household refrigerators were selected as the second batch of green design products by the Ministry of Industry and Information Technology. Release the company's differentiated product definition capabilities.
Changhong Air-conditioner seized the breakthrough of energy-saving emission reduction and technology upgrade. In 2016, the domestic business revenue increased by 25.9% year-on-year. As the first batch of national leader in energy efficiency, 27 models were among the top companies in the industry.
Entering 2017, Changhong's main business growth continues unabated. In the first quarter of this year, Changhong TV's average retail price increased by 12.7% year-on-year, UHD ultra-high-definition products accounted for 64%, which was 9 percentage points higher than the industry, and CHiQ sales accounted for 6.1 percentage points year-on-year; January-February, Changhong air-conditioning domestic line Retail sales volume and retail sales increased by 37.1% and 36.8% year-on-year; Huayi inverter compressors increased by 234% year-on-year, and commercial compressors increased by 6.9% year-on-year.... A series of operating data show that Changhong’s comprehensive home appliances market The competitiveness is further enhanced.
In addition to the steady growth of various types of home appliances, Changhong's emerging industry is also making initial progress. Focusing on the construction of the smart strategic ecological chain, Changhong has promoted the establishment of several new subsidiaries focusing on smart community businesses such as Buy Food, Smart Health, Wisdom Education, Family Help, etc. The number of new jobs has exceeded 1,000, showing a positive expansion trend.
At the same time, in terms of smart cities, through strategic cooperation with companies such as the Chinese Academy of Sciences and Huawei, Changhong has received orders for hundreds of millions of projects across the country. New industrial development projects such as artificial intelligence, smart energy, smart cars, and new mobile terminals are also in full swing as planned.
In the past year, Changhong accelerated the “+ Internet†in manufacturing, R&D, and sales, further consolidating the “three core†industries such as home appliances, military industry, and IT, and manufacturing 2025 in China, military-civilian integration, innovation-driven development, etc. Under the overall national strategy, Changhong will continue to build new competitiveness and achieve quality growth.
Overtaking: New Dividends from Reform and Transformation
The consumer electronics industry where Changhong is located is a global open competition industry, and it is an industry that has long since entered the Red Sea competition from the Blue Ocean. How to build new dividends in corporate development and transformation under the background of demographic dividends and policy dividends that have disappeared in the past has become the biggest grip for this round of Changhong development.
People are the core assets of the company. Exciting the subjective initiative of all employees is the basis for the orderly progress of the company's transformation and various reforms. Based on the ability of people to inspire and build new dividends from the internal institutional mechanism reforms to external market competition and transformation, become the biggest driving force in this round of Chongqing's leading overtaking.
In terms of management reform, the parent company's management system was standardized to establish a subsidiary's chief property rights representative system; through the implementation of rigid performance management, the person in charge of the relevant business units with poor operating and management performance was dismissed, demoted, and reduced salary in 2016. . At the same time, in order to promote the efficiency and effectiveness of resource utilization, the management reforms in investment, capital, and resource allocation will be promoted in accordance with the principle of marketization.
In terms of management reform, through the improvement of the corporate governance structure, the company’s managerial layer is engaged in market-based employment and contractual management, and the market-oriented compensation management and assessment elimination mechanism of the senior management team is established; Five operating platforms, such as capital, investment, supply chain, and overseas, gradually reduce the company's expenses and realize new growth points.
Through strengthening the production process, “intelligent†reform and cost control, etc., and reducing production costs and improving profitability, 2016 Changhong’s cash flow efficiency increased by 13% year-on-year, financial expenses decreased by 29% year-on-year, and total profit increased by 4.094 billion.
The release of internal reform effects has led to an increase in the transformation and upgrading of external market operations. With the help of the national strategy of the integration of military and civilian development, Changhong has established the Revitalization of the Military Industry Committee and the Military and Civil Integration Development Center to strengthen the top-level planning for the development of the military-military integration industry. Accelerate the construction of a military-military integration industry demonstration park, lead the establishment of a military-military integration achievement conversion fund, and promote the two-way transfer and transformation of military-civilian technology.
Combining the advantages of military technology with the advantages of large-scale production of civilian products, a large number of military and civilian dual-use technologies and products have been developed. In the recently launched Tianzhou-1 cargo spacecraft, Changhong provided a number of products including measuring radars, cerium oxide ceramic gripping bars, etc., successfully launching Tianzhou-1 from multiple launches and operations. It provided a powerful guarantee for the rendezvous and docking of Tianzhou-1 and Tiangong-2 space laboratory.
New impetus: Four systems build up
In the past 2016, it was the year in which Changhong’s business reforms were steadily advancing. The world’s first series of “black technology†products such as artificial intelligence televisions and Internet of things fridges were launched in succession, allowing Changhong Station to be at the forefront of world’s smart technology innovation. How does Changhong maintain this steady development momentum and realize new innovation and change in 2017 that has already been opened?
In 2017, Changhong will build “four platforms†based on smart R&D, smart manufacturing, smart trading, and intelligent operations, and improve the “four systems†construction of technology systems, manufacturing systems, marketing systems, and human resources systems to form industry differentiation. Changhong ability. Simultaneously promoted the "4 Projects for tough work", such as strengthening the TV business, and through the "Dispatch upstream" plan, it stimulated the vitality of all subsidiaries and improved the efficiency of capital.
At present, Changhong has launched the "Beacon Project" and the parent company has established the "Lighthouse Laboratory" to lock in "frontier, advanced, and disruptive technologies." At the same time, each product unit set up a "competitive laboratory" and increased research on the "leading edge technology for product application" to promote the company's depth and breadth in technology research. In addition, the company recruits top-level scientific and technological experts from across the world, and actively introduces product managers with extensive experience to form a talent team led by 'Lighthouse scientists'. The ultimate goal is to create collaboration and sharing of global R&D centers.
In recent years, Changhong Smart Manufacturing has been at the forefront of its peers in the country. As the first batch of intelligent manufacturing pilot units in China, Changhong has achieved a good demonstration effect. In 2017, Changhong will build a cloud platform for intelligent manufacturing operations to build an integrated model for decision-making and response in R&D, supply chain, manufacturing, transaction, and logistics information, establish and improve a manufacturing system, and meet the “personal customization era†to meet users. Personalized needs.
In order to continuously activate talent initiative, Changhong will implement high-end talent selection and recruitment plan, continue to strengthen the training and selection of young cadres, leading cadre withdrawal mechanism, etc., promote the construction of management team, and activate power through the implementation of differential salary distribution, medium and long-term incentive system , so that the annual human efficiency increase of not less than 10%.
Focus on industrial upgrading and transformation, promote the further optimization of product structure, achieve output from capacity building to capacity, comprehensively upgrade core technology innovation capability, and promote the coordinated development of emerging industries and military-civilian integration. Li Jin, general manager of Changhong Holdings, frankly stated in an interview with the media. Changhong is gradually improving the construction of "four systems" such as technology, manufacturing, marketing and human resources, and pursuing higher quality development and growth.
Smart TV/box information can focus on smart TV information network sofa butler (http://), China's influential TV box and smart TV website, providing information, communication, TV boxes, smart TVs, smart TV software, etc. Answering questions.
The newly announced Sichuan Changhong 2016 annual report and 2017 first quarter report show that: In 2016, the company's revenue reached 67.175 billion yuan, an increase of 3.59% year-on-year; net profit was 555 million yuan year-on-year increase of 128.11%. In the first quarter of 2017, the company's revenue reached 16.629 billion yuan, an increase of 7.93% year-on-year, and continued to maintain a steady growth momentum. This also reflects on one side. In the past year or so, a series of drastic reforms within the company have achieved initial success.
Fundamentals: Full bloom of main business
In 2016, Changhong TV sales increased by 5.9% year-on-year, gross profit margin increased by 3.6 percentage points, and smart, large-screen (55+) accounted for a year-on-year increase of 21% and 12% respectively. In July last year, Changhong launched the world's first artificial intelligence TV, breaking the longstanding homogeneity barrier in China's color TV industry and sparking attention and follow-up of the entire color TV industry.
In that year, Meiling Refrigerator continued to set off a storm of popularity of inverter refrigerators. The revenue of refrigerators (cabinet) increased by 11.5% year-on-year, and inverter refrigerators accounted for 32% of shipments, maintaining the leading position in the country. 13 household refrigerators were selected as the second batch of green design products by the Ministry of Industry and Information Technology. Release the company's differentiated product definition capabilities.
Changhong Air-conditioner seized the breakthrough of energy-saving emission reduction and technology upgrade. In 2016, the domestic business revenue increased by 25.9% year-on-year. As the first batch of national leader in energy efficiency, 27 models were among the top companies in the industry.
Entering 2017, Changhong's main business growth continues unabated. In the first quarter of this year, Changhong TV's average retail price increased by 12.7% year-on-year, UHD ultra-high-definition products accounted for 64%, which was 9 percentage points higher than the industry, and CHiQ sales accounted for 6.1 percentage points year-on-year; January-February, Changhong air-conditioning domestic line Retail sales volume and retail sales increased by 37.1% and 36.8% year-on-year; Huayi inverter compressors increased by 234% year-on-year, and commercial compressors increased by 6.9% year-on-year.... A series of operating data show that Changhong’s comprehensive home appliances market The competitiveness is further enhanced.
In addition to the steady growth of various types of home appliances, Changhong's emerging industry is also making initial progress. Focusing on the construction of the smart strategic ecological chain, Changhong has promoted the establishment of several new subsidiaries focusing on smart community businesses such as Buy Food, Smart Health, Wisdom Education, Family Help, etc. The number of new jobs has exceeded 1,000, showing a positive expansion trend.
At the same time, in terms of smart cities, through strategic cooperation with companies such as the Chinese Academy of Sciences and Huawei, Changhong has received orders for hundreds of millions of projects across the country. New industrial development projects such as artificial intelligence, smart energy, smart cars, and new mobile terminals are also in full swing as planned.
In the past year, Changhong accelerated the “+ Internet†in manufacturing, R&D, and sales, further consolidating the “three core†industries such as home appliances, military industry, and IT, and manufacturing 2025 in China, military-civilian integration, innovation-driven development, etc. Under the overall national strategy, Changhong will continue to build new competitiveness and achieve quality growth.
Overtaking: New Dividends from Reform and Transformation
The consumer electronics industry where Changhong is located is a global open competition industry, and it is an industry that has long since entered the Red Sea competition from the Blue Ocean. How to build new dividends in corporate development and transformation under the background of demographic dividends and policy dividends that have disappeared in the past has become the biggest grip for this round of Changhong development.
People are the core assets of the company. Exciting the subjective initiative of all employees is the basis for the orderly progress of the company's transformation and various reforms. Based on the ability of people to inspire and build new dividends from the internal institutional mechanism reforms to external market competition and transformation, become the biggest driving force in this round of Chongqing's leading overtaking.
In terms of management reform, the parent company's management system was standardized to establish a subsidiary's chief property rights representative system; through the implementation of rigid performance management, the person in charge of the relevant business units with poor operating and management performance was dismissed, demoted, and reduced salary in 2016. . At the same time, in order to promote the efficiency and effectiveness of resource utilization, the management reforms in investment, capital, and resource allocation will be promoted in accordance with the principle of marketization.
In terms of management reform, through the improvement of the corporate governance structure, the company’s managerial layer is engaged in market-based employment and contractual management, and the market-oriented compensation management and assessment elimination mechanism of the senior management team is established; Five operating platforms, such as capital, investment, supply chain, and overseas, gradually reduce the company's expenses and realize new growth points.
Through strengthening the production process, “intelligent†reform and cost control, etc., and reducing production costs and improving profitability, 2016 Changhong’s cash flow efficiency increased by 13% year-on-year, financial expenses decreased by 29% year-on-year, and total profit increased by 4.094 billion.
The release of internal reform effects has led to an increase in the transformation and upgrading of external market operations. With the help of the national strategy of the integration of military and civilian development, Changhong has established the Revitalization of the Military Industry Committee and the Military and Civil Integration Development Center to strengthen the top-level planning for the development of the military-military integration industry. Accelerate the construction of a military-military integration industry demonstration park, lead the establishment of a military-military integration achievement conversion fund, and promote the two-way transfer and transformation of military-civilian technology.
Combining the advantages of military technology with the advantages of large-scale production of civilian products, a large number of military and civilian dual-use technologies and products have been developed. In the recently launched Tianzhou-1 cargo spacecraft, Changhong provided a number of products including measuring radars, cerium oxide ceramic gripping bars, etc., successfully launching Tianzhou-1 from multiple launches and operations. It provided a powerful guarantee for the rendezvous and docking of Tianzhou-1 and Tiangong-2 space laboratory.
New impetus: Four systems build up
In the past 2016, it was the year in which Changhong’s business reforms were steadily advancing. The world’s first series of “black technology†products such as artificial intelligence televisions and Internet of things fridges were launched in succession, allowing Changhong Station to be at the forefront of world’s smart technology innovation. How does Changhong maintain this steady development momentum and realize new innovation and change in 2017 that has already been opened?
In 2017, Changhong will build “four platforms†based on smart R&D, smart manufacturing, smart trading, and intelligent operations, and improve the “four systems†construction of technology systems, manufacturing systems, marketing systems, and human resources systems to form industry differentiation. Changhong ability. Simultaneously promoted the "4 Projects for tough work", such as strengthening the TV business, and through the "Dispatch upstream" plan, it stimulated the vitality of all subsidiaries and improved the efficiency of capital.
At present, Changhong has launched the "Beacon Project" and the parent company has established the "Lighthouse Laboratory" to lock in "frontier, advanced, and disruptive technologies." At the same time, each product unit set up a "competitive laboratory" and increased research on the "leading edge technology for product application" to promote the company's depth and breadth in technology research. In addition, the company recruits top-level scientific and technological experts from across the world, and actively introduces product managers with extensive experience to form a talent team led by 'Lighthouse scientists'. The ultimate goal is to create collaboration and sharing of global R&D centers.
In recent years, Changhong Smart Manufacturing has been at the forefront of its peers in the country. As the first batch of intelligent manufacturing pilot units in China, Changhong has achieved a good demonstration effect. In 2017, Changhong will build a cloud platform for intelligent manufacturing operations to build an integrated model for decision-making and response in R&D, supply chain, manufacturing, transaction, and logistics information, establish and improve a manufacturing system, and meet the “personal customization era†to meet users. Personalized needs.
In order to continuously activate talent initiative, Changhong will implement high-end talent selection and recruitment plan, continue to strengthen the training and selection of young cadres, leading cadre withdrawal mechanism, etc., promote the construction of management team, and activate power through the implementation of differential salary distribution, medium and long-term incentive system , so that the annual human efficiency increase of not less than 10%.
Focus on industrial upgrading and transformation, promote the further optimization of product structure, achieve output from capacity building to capacity, comprehensively upgrade core technology innovation capability, and promote the coordinated development of emerging industries and military-civilian integration. Li Jin, general manager of Changhong Holdings, frankly stated in an interview with the media. Changhong is gradually improving the construction of "four systems" such as technology, manufacturing, marketing and human resources, and pursuing higher quality development and growth.
Smart TV/box information can focus on smart TV information network sofa butler (http://), China's influential TV box and smart TV website, providing information, communication, TV boxes, smart TVs, smart TV software, etc. Answering questions.
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