With annual revenue of 1.7 billion, Amazon's big-name supplier is also going public!

While sellers are experiencing a surge in orders, the suppliers behind them are also making a lot of money. Yien.com learned that Ningbo Boling Electric Appliance Co., Ltd. (hereinafter referred to as "Boling Electric Appliance"), a supplier of Nutribullet, a well-known Amazon brand , intends to IPO on the Growth Enterprise Market and has submitted a prospectus, which is currently in the inquiry stage.

The prospectus shows that Boling Electric mainly engages in the research and development, production and sales of small kitchen appliances, such as food processors and blenders, grills, coffee machines and air fryers. The company mainly exports online and is a supplier to internationally renowned small appliance brands such as Capital Brands, Philips and SEB. Its products are mainly sold to the United States, Europe and other countries.

Data shows that Boling Electric's revenue in 2018-2020 was 548 million yuan, 870 million yuan, and 1.696 billion yuan, respectively , while its net profit was 18 million yuan, 65 million yuan, and 107 million yuan, respectively . Whether in terms of revenue or profit, Boling Electric's data is very impressive, especially in 2020, when its revenue and profit almost doubled, which may be one of the reasons that prompted it to accelerate its pace of listing.

In terms of segmentation, food processing and blending machines are definitely the undisputed sales champions , with sales of 13.1467 million units in 2020 , an increase of 88% compared to 6.9975 million units in 2019. The revenue in 2018-2020 is also not to be underestimated, which was 472 million yuan, 764 million yuan, and 1.399 billion yuan respectively, accounting for more than 80%.

As the main customer of Boling Electric, Capital Brands can be said to be the main source of revenue for Boling Electric, accounting for 57.86%, 68.39% and 66.91% of the revenue in 2018-2020 respectively. It is worth noting that in 2020 alone , this major customer contributed 1.135 billion yuan in sales to Boling Electric.

Capital Brands is a subsidiary of Delonghi. Its Nutribullet, Magic Bullet and Baby Bullet brands are very well-known in North America and European countries. Many of its products also occupy the Amazon Best Seller list and are favored by people in Europe and the United States.

Survey data shows that the top three categories of small household appliances in the United States in 2019 were food processing small appliances, electric heating appliances, and coffee machines. Most of the small household appliances in the United States are imported, which is also an opportunity for sellers of related products.

As consumption levels continue to rise, people are also pursuing a better lifestyle. As household appliances that improve the quality of life, the consumer group of small household appliances cannot be underestimated. Sellers of related products can select products according to different market demands.

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