Sales in the third quarter reached 2.2 billion! Shenzhen made a lot of money from the big sales

As the camping economy becomes increasingly popular, outdoor portable products are also experiencing their performance highlights. In the two months after its listing, Huabao New Energy, one of the most expensive new stocks this year, has experienced another "hot selling season".

Huabao New Energy's performance soared with sales of 900 million in a single quarter

In September , Huabao New Energy, the " first portable energy storage stock " , announced its official listing. After only more than half a year, its IPO journey was not bumpy. Recently, Huabao New Energy disclosed its first financial report after listing, which is the third quarter performance report of this year. The performance can be said to be very good.

According to Huabao New Energy's third-quarter financial report, its revenue in Q3 reached 915 million yuan, compared with 576 million yuan in the same period last year , a year-on-year increase of 58.73%. Its attributable net profit was 94.39 million yuan, compared with 55.91 million yuan in the same period last year, a year-on-year increase of 68.83% .

Since the beginning of this year, Huabao New Energy has achieved a revenue of 2.23 billion yuan, a year-on-year increase of 44.34% . The revenue in three quarters is almost the full-year revenue of last year . Huabao New Energy said that the revenue achievement was mainly due to the expansion of the German market, the increase in offline channel brand influence, and the increase in market penetration.

In addition, its attributable net profit in the first three quarters of this year was 255 million yuan, a year-on-year increase of 19.7% ; the gross profit margin was 45.76%, a decrease from 48.03% in the same period of 2021.

From 2019 to 2021, Huabao New Energy 's revenue reached 319 million yuan, 1.07 billion yuan and 2.315 billion yuan respectively, of which overseas sales accounted for 87.27%, 90.09% and 92.55% of the main business income in the current period respectively . Not only has the revenue doubled year by year, the proportion of overseas markets is also gradually increasing.

In the first three quarters of 2022, its overseas market revenue was 2.105 billion yuan, a year-on-year increase of 46.62%, accounting for 94.41% of total revenue .

The main brand " Jackery " has achieved outstanding sales results on major e-commerce platforms , and has now become a leading brand in the market segments of global mainstream e-commerce platforms such as Amazon and Rakuten.

On Amazon, many products under the Jackery brand have repeatedly become popular, and many have long dominated the BSR position in this category . Judging from the number of reviews, there are quite a few with thousands of feedbacks , and most of them have a rating higher than 4.5 .

But on the contrary, Huabao New Energy's performance in the domestic market is not very outstanding.

According to the financial report, its domestic market revenue in the first three quarters of this year was 125 million yuan, a year-on-year increase of 14.30%, accounting for 5.59% of the total revenue . In the three years from 2019 to 2021 , its domestic market revenue was 40.3168 million yuan, 106 million yuan, and 170 million yuan respectively.

The sales data of the " Dianxiaoer " brand , which focuses on the domestic market, on domestic e-commerce platforms such as Tmall and JD.com is far behind that of " Jackery " .

In addition, according to Huabao New Energy's prospectus, Huabao New Energy's wholly-owned subsidiary Guangdong Dianxiaoer Technology Co., Ltd. had an annual net profit of -8.8719 million yuan in 2021 .

Currently, Huabao New Energy 's four major business segments are portable energy storage products, solar panels, power banks, and other accessories. From the perspective of its main business, it focuses on the field of mobile energy storage, with portable energy storage accounting for nearly 80% of its revenue in 2021 .

In terms of brand, Huabao New Energy's portable energy storage product business is divided into two major brands, namely Jackery & Dianxiaoer and Geneverse, the latter of which is their new home energy storage brand launched in 2020.

With a market size of 80 billion, Huabao New Energy is betting on energy storage products

With its deep involvement in the portable energy storage field, strong global brand influence , and three - dimensional “ domestic + overseas ” and “ online + offline ” all-round sales channels , all these advantages have made industry insiders optimistic about the development prospects of Huabao New Energy. Therefore, during the IPO recruitment stage, Huabao New Energy became a hot commodity in the A-share market.

It is reported that Huabao New Energy has become a typical example of IPO oversubscription this year, with an oversubscription ratio of more than 5 times . In other words, it originally expected to raise 910 million yuan, but the actual amount raised reached 5.829 billion yuan, and the oversubscription ratio reached 540.34% .

It can be seen that the signal of Huabao New Energy's development prospects is very positive. Some professionals said that its development has seized two opportunities, one is the hot cross-border e-commerce track, and the other is the high demand for portable energy storage products caused by outdoor camping.

Of course, there are also many doubts about the development of this field. Some people believe that portable energy storage is catalyzed by the "dual carbon" goals, and its market size remains to be tested. Others believe that the threshold for portable energy storage technology is not high, and there are many companies entering the market, so the company's long-term market position is not stable .

No matter how the competitive environment in this field changes in the future, at least for now, Huabao New Energy's benchmark position in this field cannot be ignored.

It is understood that Huabao New Energy's products and services currently cover 11 countries and regions, including the United States, Japan, the United Kingdom, Germany, Canada, etc. At the same time, its products have obtained multiple certifications including international UN safety certification, Japan PSE, EU CE, EU RoHS testing, etc., meeting the corresponding lithium-ion battery or energy storage system management requirements of different markets .

The company's online sales channels, including Amazon, Rakuten Japan, Yahoo Japan , Tmall, and JD.com, have become increasingly complete. At the same time, the company is actively developing diversified sales channels for its own brands and establishing cooperative relationships with globally renowned brands or retailers such as JVC, Canon, HarborFreight, Home Depot, Lowe's, and Sam's Club.

In October this year , Huabao New Energy 's wholly-owned subsidiary Jackery of Germany signed the "European Procurement Framework Agreement" with Lidl, known as the "German Walmart " . Lidl will purchase a large number of " Jackery " brand portable energy storage products and sell them in Europe in Lidl offline stores and Lidl online stores.

Overseas markets are the main development markets for Huabao New Energy, which can be seen from its financial reports . Among them, the US market is the top priority, with main business revenue accounting for nearly 50% .

In recent years, natural disasters have occurred frequently in the United States, and the demand for temporary emergency power backup has increased in local households . Therefore, Huabao New Energy has launched a larger capacity home energy storage product in the US market that can increase capacity through parallel connection. However , it said that the home energy storage product Geneverse will accelerate its layout in Europe and is expected to enter the European market next year.

Statistics from the China Chemical and Physical Power Sources Industry Association show that the global portable energy storage market size was only 60 million yuan in 2016, reaching 11.13 billion yuan in 2021. It is estimated that by 2026, the global portable energy storage shipments and market size will reach 31.1 million units and 88.23 billion yuan respectively .

With a market size of over 80 billion, the portable energy storage industry has unlimited growth potential. Huabao New Energy has also bet on the European and American markets where camping penetration rates are extremely high. With the continued explosion of the outdoor camping economy, its revenue growth space is also growing .

However, at present, Huabao New Energy's overseas sales are too dependent on platforms such as Amazon, which may become its operating risk. In addition, the continued rise in raw material prices, the volatile international trade environment, and the intensified industry competition will become obstacles to its expansion of overseas markets .

Third quarter

Hot sale