The TOP40 performance list is out! Some of them have a higher "cash ability" than Anker

Which categories are hot? Which listed cross-border e-commerce company is the most profitable?

Recently, the TOP40 ranking of cross-border e-commerce listed companies in the first quarter of 2024 was released. This data was released by the Cross-border Banking Research Institute. It mainly analyzes the performance of cross-border e-commerce listed companies (mainland) with overseas revenue accounting for more than 50% , from the dimensions of revenue, net profit, etc.

From this list, we can see that among the 40 big sellers on the list, 6 are from Zhejiang, followed by Guangdong, Shandong and other places. In terms of net profit, some outstanding ones surpassed Anker and became the leader in the cross-border industry, while some former big sellers fell to the bottom with heavy losses. The main categories of these big sellers are power tools, 3C, home furnishings, clothing, pets, etc.

A more obvious trend is that some brand sellers are gradually recovering from losses, but some popular sellers are recovering very slowly. This article will analyze the relatively typical popular sellers in the rankings in a flashback manner, combined with the semi-annual report data, hoping to be helpful to sellers.

TOP 38: Cross-border Communication (net profit -17.4083 million yuan)

As one of the former leaders, Cross-border Communication is located in Taiyuan, Shanxi Province. It was listed on the Shenzhen Stock Exchange A-share market in 2011 and mainly deals in clothing, 3C and other categories of products. In 2020, Cross-border Communication's performance plummeted, and it sold off its subsidiaries one after another to survive. Later, it decided to transform and save itself, abandoning the distribution model and gradually moving towards a refined operation route, but it is clear that it still has a long way to go.

In the first quarter of this year, Cross-border Communication's revenue was 1.276 billion yuan and its net profit was -17.4083 million yuan, making it one of the few big sellers with negative profits. In the first half of 2024, Cross-border Communication's performance is still not optimistic, with revenue of 2.92 billion yuan, a year-on-year decrease of 16%; net profit fell by 284% to -11.38 million yuan.

At present, the company's export business is mainly completed by Sateng and Yunxi. Sateng mainly relies on its own website to sell ZAFUL products, including swimwear, women's clothing, and even home furnishings and other derivative products. However, with the large-scale reduction in the number of monthly active users and SKUs on its own website, this fast fashion independent website that once kept pace with SHEIN is also on the decline, with a net profit of -27.4862 million yuan in the first half of the year.

Yunxi's main business is selling swimwear, skirts and other products on platforms such as Amazon and AliExpress, with sales exceeding 100 million yuan in the first half of the year. With continued losses, it is still unclear when Cross-border's export business will be able to get out of the loss dilemma.

TOP37: Youkeshu (net profit -2.9804 million yuan)

Judging from the net profit in the first quarter alone, Youkeshu's losses seem to have gradually narrowed. Its revenue in the first quarter was 118 million yuan, and its net profit was -2.98 million yuan. This situation continued in the semi-annual report, with revenue of 228 million yuan in the first half of the year and a net profit of -30.89 million yuan. Although it has improved, it is still losing money. Except for a slight increase on the Shopee platform, other channels such as Amazon are on a downward trend.

As one of the representative cross-border e-commerce companies in Changsha, Hunan, Youkeshu was founded in 2010, mainly engaged in 3C and home products. Soon after its establishment, the company entered a period of rapid development, completing four rounds of financing from 2014 to 2016, with a total amount of 890 million yuan. At that time, Youkeshu was listed on the New Third Board, becoming the earliest cross-border e-commerce company to land in the capital market. Later, it "married" with Tianze Information and soared all the way.

In 2020, Youkeshu reached its peak, with a net profit of 416 million yuan in cross-border e-commerce, a total of 3,873 stores on various platforms, and over one million SKUs. But it was also in this year that Youkeshu's business began to go downhill. In 2022, the company's market value shrank to 2.5 billion yuan; in 2023, Youkeshu's net profit was -485 million yuan. So far, Youkeshu's total loss in 4 years has reached 4 billion yuan.

Not only that, Youkeshu has changed its name to ST Youkeshu. The recently disclosed financial risks show that Youkeshu was sued by Guangda Group and has a debt of 26.4 million yuan. In addition, the Changsha Intermediate Court has agreed that Youkeshu will conduct a preliminary reorganization on October 12 this year.

TOP35: Xinghui Shares (net profit of 4.649 million yuan)

In the first quarter of this year, Xinghui Co., Ltd.'s revenue was 366 million yuan and its net profit was 4.649 million yuan, which was down compared with the same period last year. According to the latest semi-annual report data, Xinghui Co., Ltd.'s revenue was 801 million yuan and its net profit reached 9.3486 million yuan, successfully turning losses into profits.

However, it was revealed that Xinghui's profit growth this time mainly relied on the debt settlement income and the penalty interest receivable related to the Amazon arbitration. The cross-border e-commerce business is still sluggish, and the revenue of Amazon and self-operated platforms has been declining. Although the third-party platform has grown, it has not made much splash due to its small size. In other words, its financial situation has not been fundamentally improved.

According to the data in the semi-annual report, Xinghui Co., Ltd. was involved in more than ten lawsuits during the reporting period, and the entanglement with the former executives of Zebao has not stopped. The tax, supplier claims and other issues left by Zebao itself are also aggravating its already bleak financial situation.

According to information, Xinghui Co., Ltd. was established in Foshan, Guangdong in 1994. It mainly produces precision hardware and 3C products and was listed in 2015. Specifically, in terms of cross-border e-commerce business, it currently mainly relies on its subsidiary Huahui Technology, whose main products include smart small appliances, power supplies, computer and mobile phone peripherals, furniture and other categories.

TOP33: Rebecca (net profit of 4.9969 million yuan)

The situation of wig giant Rebecca is not optimistic, and its performance has been declining. In the first quarter of this year, Rebecca's revenue was 274 million yuan and its net profit was 5.3637 million yuan. In the first half of the year, the company's revenue was 574 million yuan and its net profit was 8.1311 million yuan, both of which were down compared with the same period last year.

As a wig seller on the list, Rebecca was founded in Xuchang, Henan in 1999. It mainly produces hair products such as craft springs, chemical fiber springs, and human hair wigs. In 2003, Rebecca was listed on the Shanghai Stock Exchange, becoming the first stock in the domestic hair products industry.

Rebecca said that the decline in performance was due to the increase in e-commerce sales expenses and the increase in financial expenses caused by changes in exchange gains. In addition, September is the peak sales season for wigs, followed by Double 11 and Christmas, and the peak season will last until March of the following year. If the wig trend rises in the second half of the year, the possibility of its net profit growth cannot be ruled out.

TOP27: Tianyuan Pet (net profit of 13.9684 million yuan)

During the pandemic, people stayed at home, driving the pet economy to grow rapidly, and many big pet sellers made a lot of money. Now that the pandemic is over, the foreign consumer market is weak, but the pet economy is still on the rise. Data shows that in 2023, total spending in the U.S. pet industry exceeded $147 billion, a year-on-year increase of 7.46%.

Benefiting from the pet economy, Tianyuan Pet has also seen steady growth. In the first quarter of this year, Tianyuan Pet's revenue was 504 million yuan and its net profit was 13.9684 million yuan. In its semi-annual report, Tianyuan Pet's revenue was 1.253 billion yuan and its net profit was 31.1802 million yuan, both of which increased compared with the same period last year.

According to data, Tianyuan Pet was founded in Hangzhou, Zhejiang in 2003 and went public in 2022. Its products cover a full range of pet series including pet beds, cat climbing frames, pet food, etc. In the first half of this year, cat climbing frames and pet beds sold well, achieving revenues of 180 million yuan and 144 million yuan respectively.

As a pioneer in the pet industry, Tianyuan Pet has more than 55% of its sales overseas . Currently, it is gradually expanding its product range to toys, clothing, traction, cleaning, electronics and other categories.

TOP21: Zhejiang Zhengte (net profit of 21.245 million yuan)

Zhejiang Zhengte is located in Linhai, Zhejiang. It was founded in 1999 and listed in 2022. The company mainly produces two series of products: sunshade products and outdoor leisure furniture. It has its own brands AbbaPatio and Sorara . Its export ratio exceeds 90%.

In the first quarter of this year, Zhejiang Zhengte's revenue was 358 million yuan and its net profit was 21.245 million yuan. In the first half of this year, its revenue was 755 million yuan and its net profit was 42.79 million yuan, both of which increased compared with the same period last year.

This situation has a lot to do with its main products. Sunshade products are the company's largest source of income. Summer is the peak season for demand for this product, but customers generally place orders 2-5 months in advance, which means that the first and second quarters of each year are the peak seasons for product sales. In addition, affected by the growth of the outdoor camping market, Zhejiang Zhengte's performance also has room for growth.

TOP18: San Tai Shares (net profit of 30.0981 million yuan)

San Tai Co., Ltd. ranked 18th on the list with a revenue of 389 million yuan and a net profit of 30.0981 million yuan in the first quarter. Compared with a number of big sellers, San Tai Co., Ltd., which was established in 2008, is involved in a relatively wide range of businesses, including not only cross-border e-commerce retail business, but also logistics and AI SaaS software business.

But one obvious data is that the business profit of Santai Co., Ltd. has declined this year. In the first half of 2024, the company's revenue was 801 million yuan and its net profit was 45.3792 million yuan, both of which were in a declining state.

Specifically, in terms of cross-border e-commerce retail business, the revenue in the first half of the year was 587 million yuan, mainly contributed by hobbies, home life, tools and accessories, etc., but the gross profit margin decreased compared with last year. As a traditional distribution model, San Tai shares has more than 800,000 SKUs on sale, with nearly 100 subcategories, covering fashion, tools and accessories, home life, digital technology and other major categories, and is currently transforming to a fine distribution model.

TOP17: Hals (net profit of 31.4796 million yuan)

Hals was founded in Yongkang, Zhejiang in 1995. Its main products are thermos cups, travel kettles, sports water bottles, etc. It went public in 2011 and became the "first stock in the cup and kettle industry" in China.

As the largest thermos manufacturer in China, Hals started with OEM and ODM business. OEM is also one of its major labels. It has cooperated with YETI, PMI, Takeya, Swell, etc. In order to pursue the second growth curve, the company focuses on building its own brand, which has achieved initial results.

In the first quarter of this year, Hals' revenue was 575 million yuan and its net profit was 31.4796 million yuan. Among them, OEM business revenue accounted for 75%, and although the revenue from independent brands accounted for only 25%, the overall growth rate was about 30%. It is understood that the company has four independent brands, Hals SIGG, NONOO, SANTECO, and Shangtai, which currently cover 9 major Amazon overseas stations.

In the semi-annual report released by Hals, its revenue was 1.393 billion yuan and its net profit was 129 million yuan, both of which increased compared with the same period last year. This is mainly due to the significant growth of overseas business. According to statistics, the sales volume of Amazon US BSR Top 100 cup and pot products increased by 58% in H1 and 62% in Q2, among which the increase of the top brands was particularly obvious.

In addition, as the world's largest producer of stainless steel vacuum ware, China exported a total of approximately US$2.354 billion worth of thermos bottles in the first half of 2024, a year-on-year increase of 582.7%, which shows its opportunities.

TOP16: Yuanfei Pets (net profit of 36.537 million yuan)

Pets are still popular. Two of them have made the list of top sellers, and both have achieved growth in revenue and profit. According to the first quarter report, Yuanfei Pets had revenue of 246 million yuan and a net profit of 36.537 million yuan.

Since its establishment in 2004, Wenzhou Yuanfei Pet has been focusing on pet supplies and pet food. According to the semi-annual report, Yuanfei Pet's revenue was 544 million yuan and its net profit was 73.8912 million yuan, both of which increased.

Among them, the pet food business had a revenue of 49.87 million yuan in the first half of the year, accounting for 9.16% of the total revenue, a year-on-year increase of 488.86%. The second was the injection molding toy business with a revenue of 17.51 ​​million yuan, a year-on-year increase of 165.93%; the revenue of traction equipment exceeded 183 million yuan.

In addition, benefiting from the continuous growth of the pet economy, pet food retailers including Petco, Yiyi, China Pet Foods, and Guaibao Pets all achieved growth in both revenue and net profit in the first half of the year. It can be said that pet food retailers have made a lot of money in the first half of the year, and an obvious trend is that all of them have set their sights on the pet food business.

TOP7: Huakai Yibai (net profit of 81.9489 million yuan)

Huakai Yibai, from Changsha, Hunan, has always been an excellent listed and best-selling representative in the industry. In the first quarter of this year, Huakai Yibai continued its upward performance trend, with revenue of 1.697 billion yuan and net profit of 81.9489 million yuan in the first quarter.

However, in the first half of this year, Huakai Yibai's net profit declined to 135 million yuan. As another big seller in Changsha, Hunan, Huakai Yibai's cross-border business mainly relies on its wholly-owned subsidiary Yibai Network, which mainly sells home gardening, auto parts and 3C products.

Home gardening is the main source of revenue for Yibai Network, with sales revenue of 740 million yuan in the first half of the year, but its average sales price is lower than that of auto parts and 3C electronic products. In addition, in the first half of the year, only the gross profit margin of Yibai Network's products, including home gardening, health and beauty, and 3C electronic products, increased.

Amazon is still the main source of revenue for Yibai Network, with sales revenue of 2.56 billion yuan in the first half of the year. In addition, its Amazon stores added 83 stores in the first half of the year, and currently have 868 stores.

TOP6: SRVC (net profit of 86.0449 million yuan)

In the first quarter, LDK's revenue was 1.799 billion yuan and its net profit was 86.0449 million yuan, both of which increased. In this year's semi-annual report, its revenue was 4.177 billion yuan and its net profit was 236 million yuan, both of which increased and showed an accelerating trend.

As a long-standing and popular brand in Shenzhen, Guangdong, Savi Times was founded in 2012. Its products cover four major brands, including clothing accessories, department stores and home furnishings, sports and entertainment, and digital automobiles and motorcycles. It was listed on the Growth Enterprise Market in 2023. Savi Times' brand matrix can be said to be a major trump card of the company.

It is reported that Savitech has multiple brands, of which three have accumulated sales of over 1.5 billion yuan, more than 20 have accumulated sales of over 100 million yuan, and more than 70 emerging brands with sales of tens of millions are gradually occupying the market. Among them, in the first half of this year, leading brands such as Coofandy, Ekouaer, and Avidlove grew rapidly, contributing the largest proportion of revenue to the company, and their products are firmly in the top five of Amazon Best Sellers sub-categories.

North America is still its main market, and Amazon is also its main sales channel, with revenue reaching 3.49 billion yuan, followed by Walmart and its own website Retro Stage. It is worth noting that Temu and TikTok's revenue reached 60 million yuan and 23 million yuan respectively. It is expected that Savitech's revenue from Temu this year will exceed 100 million yuan.

TOP5: Zhiou Technology (net profit of 101 million yuan)

With its unique vision and layout strategy, Zhiou Technology has successfully stood out in the industry. In the first quarter of this year, Zhiou Technology's revenue was 1.842 billion yuan and its net profit was 101 million yuan, with both revenue and profit increasing.

As a major cross-border seller in Zhengzhou, Zhiou Technology's products mainly include four major series: furniture series, home series, garden series, and pet series. It has three major product brands: home brand SONGMICS, style furniture brand VASAGLE, and pet home brand Feandrea.

In the first half of this year, Zhiou Technology's revenue was 3.721 billion yuan, and its net profit declined to 172 million yuan. However, Amazon's business accounted for half of Zhiou Technology's revenue, contributing 2.538 billion yuan in the first half of the year.

TOP2: Anker Innovations (net profit of 311 million yuan)

As the leading cross-border company, Anker Innovations' performance has always been the focus of attention of industry insiders. In the first quarter of this year, Anker Innovations' revenue was 4.378 billion yuan and its net profit was 311 million yuan, which is still on the rise.

As a leading 3C brand, Anker Innovations was founded in Changsha, Hunan in 2011. It mainly produces 3C products, and its product lines cover chargers, charging cables, mobile power supplies, outdoor power supplies, etc. Some time ago, Trump used Anker Innovations power bank, which once made it popular, and Anker Innovations' stock price once rose by nearly 3%.

It is undeniable that the cross-border leader has great popularity and achievements overseas. The semi-annual report data shows that Anker Innovations' revenue was 9.648 billion yuan and its net profit was 872 million yuan, both of which increased.

In terms of specific categories, Anker Innovations' charging and energy storage products, such as the Anker brand, still accounted for the highest revenue proportion of 51.56%, with revenue of 4.975 billion yuan; smart innovation products including eufy smart home and AnkerMake 3D printing product series ranked second, with revenue of 2.360 billion yuan; smart audio and video products including soundcore , Nebula, etc. achieved revenue of 2.309 billion yuan.

TOP1: Giant Star Technology (net profit of 413 million yuan)

No one would have thought that the profit king in the cross-border circle is not Anker Innovations, but Giant Star Technology, which mainly produces power tools. Data shows that Giant Star Technology's net profit in the first quarter of this year reached 413 million yuan, which is 100 million more than Anker Innovations.

This is not the first time this has happened. In 2023, Giant Star Technology's revenue was 10.929 billion yuan and its net profit was 1.692 billion yuan. At that time, Anker Innovations' revenue was as high as 17.5 billion yuan, much higher than Giant Star Technology, but its net profit was only 1.615 billion yuan, a difference of more than 70 million yuan, which shows its "money ability".

The 2024 semi-annual report data shows that Giant Star Technology's revenue was 6.7 billion yuan and its net profit was 1.194 billion yuan, both of which increased. Although its revenue was lower than Anker Innovations, its net profit was still higher than Anker Innovations' 872 million yuan. And its hand tools, power tools and industrial tools businesses all achieved growth.

According to the data, Giant Star Technology was founded in Hangzhou, Zhejiang in 2001, mainly engaged in manual and electric tools. It took 10 years to successfully list on the Shenzhen Stock Exchange in 2010. Looking at the history of Giant Star Technology, it is not difficult to see that one of the elements of its success is to strengthen brand building and develop multiple channels.

From the initial ODM to the current full-scale development of OBM, Giant Star Technology has successfully created overseas brands including WORKPRO, DURATECH, SHEFFIELD, etc., contributing annual revenue of more than 5 billion yuan. On Amazon, many of its products are top-selling products on the BSR list.

In terms of channels, in addition to entering mainstream e-commerce platforms such as Amazon, Giant Star Technology is also strengthening the operation of independent sites and offline channels. According to feedback, the profit model of its independent sites is much higher than the platform model. At the same time, Giant Star Technology has built its own global industrial chain, maintained good cooperation with thousands of suppliers, and even established logistics distribution centers and sales teams in the United States and Europe to promote localized operations.

The close integration of R&D, brand building, global industrial chain and logistics is also pushing Giant Star Technology to go further. Based on the data of many major sellers, it can be found that categories including pets, power tools, 3C, etc. are still on the rise, especially the pet seller we mentioned, which has seen both revenue and profit growth in the first half of the year. Relevant sellers can refer to it.

TOP40

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