With annual revenue of 2.8 billion, Amazon seller XGIMI Technology firmly holds the C position in the industry

The annual revenue of XGIMI Technology, the leading projector company, reached 2.8 billion

As a leading domestic projection equipment company, XGIMI Technology was founded in 2013 and is located in Chengdu, Sichuan. It mainly develops, produces and sells smart projection products and related accessories. XGIMI Technology products are sold both domestically and overseas. Its overseas sales model is mainly divided into online and offline. Online sales are mainly on Amazon, AliExpress, overseas official malls and other B2C platforms, and offline sales are mainly through overseas dealers.

(Picture from AliExpress)

In overseas markets, XGIMI Technology's online sales reached 21.23 million yuan in 2019, and offline dealer sales reached 19.41 million yuan. At present, its products have covered developed countries such as the United States, Japan and Europe, and have won multiple design awards in Germany, Japan and the United States. Even the advertisements placed by XGIMI Technology on Amazon are labeled as "the top two brands in global home projector shipments."

According to the 2020 annual performance report of XGIMI Technology , the company's revenue was 2.828 billion yuan, an increase of 33.62% compared with the same period in 2019; the net profit was 268.95 million yuan, an increase of 187.94% year-on-year. The report data shows that XGIMI Technology's revenue mainly comes from its core product, the smart micro-projector series, which accounts for more than 85% of the total sales of the whole machine.

Industry insiders said that Xgimi Technology may be able to help China establish its voice in the projection industry, because the core research and development technology of smart projectors dominated by LCD and DLP has been controlled by Japanese and American companies. Xgimi Technology is changing this situation, and China's projection industry may be able to turn the tables and become the landlords.

Backed by Baidu and Mango, the market value of XGIMI Technology has exceeded 27 billion

As the saying goes, it is good to lean on a big tree for shade, and the projection leader XGIMI Technology has more than one big tree to lean on. In addition to Chairman Zhong Bo holding the largest stake of 18.76%, Internet giant Baidu is the second largest shareholder with a stake of 15.478%, and Mango Media holds 3.42%, which is enough to show the prospects and attractiveness of the projection track.

(Picture from AliExpress)

In fact, the reason why Xgimi Technology can stand out among a number of brands is closely related to the fact that the projection equipment market is favored by many big sellers. Companies like ZEBO, Anker's sub-brand Nebula, and Wantuo Technology, a big seller of projectors on Amazon North America, have all increased their R&D expenses on the development of projection equipment.

In addition, on March 3, 2021, Xgimi Technology successfully landed on the Shenzhen Stock Exchange Science and Technology Innovation Board, closing at 530.01 yuan per share on the first day of listing, a 296.33% increase from the issue price. The total market value reached 26.5 billion yuan. The current market value has exceeded 27 billion, which has made many investors see the potential of this market.

In terms of revenue, XGIMI Technology's operating income in 2017-2019 was RMB 998 million, RMB 1.659 billion, and RMB 2.116 billion, respectively, and its net profit was RMB 14.49 million, RMB 9.5172 million, and RMB 93.4048 million, respectively. In terms of market share, XGIMI Technology's shipments and market share have continued to increase, reaching 13.2%, 14.6%, and 22.2% in 2018-2020, respectively.

However, it is worth noting that compared with XGIMI's advantages in software development, its hardware R&D still has big problems, mainly focusing on OEM and OEM. If XGIMI relies solely on the value brought by the software level to make up for the lack of hardware profits, its development may be limited.

In fact, as the experience of smart projectors becomes better and better, the demand in this market is also expanding. In particular, the new generation has become the main force in using smart devices. The increase in demand has prompted many domestic brands to increase their R&D investment and begin to move in this direction. Sellers who sell such products can pay special attention.

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