Anker may achieve 22 billion yuan in revenue in 2024

The second quarter has begun, and many listed big sellers have successively announced specific financial data for the whole year of 2023. Some people cry and some laugh. At present, Anker is still the biggest winner in the cross-border circle.

Anker predicts that it will have a revenue of 22.3 billion yuan this year

On April 25, 3C super seller Anker released its full-year performance report for 2023.

In general, Anker made a lot of money last year. In 2023, Anker's revenue alone reached 17.5 billion yuan, nearly 23 percentage points higher than in 2022 .

The growth in net profit is even more gratifying, from 1.1 billion yuan in 2022 to 1.6 billion yuan in 2023, an increase of 41.22% ; if calculated based on non-net profit, the increase is nearly 72%.

Judging from the quarterly data, Anker's revenue has been growing quarter by quarter, with the highest profit in the second quarter, reaching RMB 500 million in a single quarter .

In the cross-border circle, this can be said to be a super eye-catching report card. After all, in the context of most big-selling companies experiencing a decline in both revenue and net profit and a downward economy, Anker was able to achieve overall data growth, which is truly a standout.

Thanks to its excellent performance, many securities institutions currently have high expectations for Anker's revenue performance this year and in the future.

A research report by Cinda Securities pointed out that as a leader in overseas consumer electronics, Anker's profitability continues to improve. According to iFinD's consensus forecast, Anker is expected to achieve net profits attributable to shareholders of RMB 1.92 billion, RMB 2.27 billion, and RMB 2.39 billion in 2024-2026, respectively .

Guoyuan Securities predicted a month before Anker's financial report was released that Anker's revenue in 2023 would be 17.8 billion yuan, a year-on-year increase of 25%, and its net profit would reach 1.644 billion yuan. There is a small gap in the revenue data, but the net profit forecast is almost accurate. It also predicts that Anker's revenue will reach 22.3 billion yuan and 26 billion yuan in 2024 and 2025 respectively .

The competition in the 3C market is not small, but Anker has been able to gain a foothold in the fierce competition for many years. The investment research report believes that this is due to four aspects:

1. Tightly tie up with Apple to create differentiated competition;

2. Deepen channels and leverage Amazon;

3. Take advantage of the domestic supply chain dividend and take root in overseas markets;

4. Strengthen brand building.

Anker's success is not only due to seizing the opportunities of the times, but also related to its continuous brand building and development of new product categories. For example, it has successively developed six brands: Anker, eufy, soundcore, Nebula, AnkerWork, and AnkerMake.

Anker has firmly grasped the field of charging and energy storage, deepened its presence in the fields of smart innovation and smart audio and video, and based on brand effect, continued to create new popular products, and continued to explore new markets and new channels.

This is also the main reason why a number of investment institutions and other industry insiders are optimistic about its future development.

Sold 10 billion yuan on Amazon alone

Now that we have discussed some of the big data, let’s take a look at some of the specific information provided in the financial report, such as Anker’s performance on Amazon, which is of most concern to everyone.

As the top seller on Amazon, Anker's multiple brand products have been on the BS list for many years, with excellent sales data.

Last year, Anker sold 9.996 billion yuan on Amazon alone, nearly 10 billion yuan, accounting for 57% of its total revenue, an increase of 25.37% over the previous year .

Third-party platforms such as JD.com, Tmall, AliExpress, eBay, and Douyin sold nearly 1.1 billion yuan in total, accounting for only 6% of total revenue, but also an increase of 32.81% from 2022.

The fastest growing channel is its independent site. Although this channel only contributes 7%, it also has revenue of over 1.2 billion yuan, a huge increase of 83.87% from 2022.

Online channels have always been Anker's most important source of revenue. Last year, with a performance of 12.3 billion yuan, it contributed 70% of its total revenue.

From the perspective of market focus, the overseas market is still Anker's main battlefield, bringing it nearly 16.9 billion yuan in revenue, accounting for 96%.

In fact, these outstanding achievements are inseparable from Anker's heavy investment in research and development. Last year, it invested 1.4 billion yuan in this area, an increase of 400 million yuan from the previous year. The number of R&D personnel has reached 1,918, accounting for 47.75% of the company's employees .

Compared with the entire overseas industry, there is almost no such capital investment and personnel ratio, which has enabled many of Anker's products to win 8 German Red Dot Design Awards, 5 Hannover Industrial (iF) Design Awards and many other important international awards.

Data shows that as of the end of 2023, Anker has won a total of 130 international industrial design and innovation product awards.

Perhaps this is also the reason why Anker has been able to maintain good results in the market for many years despite the negative situation.

From charging and energy storage to smart audio and video and smart innovation, Anker has continuously enriched its brand matrix and incubated six major brands including Anker, eufy, soundcore, Nebula, AnkerWork, and AnkerMake. Now each brand has a place in its corresponding field.

Last year, Anker's most powerful charging and energy storage brand Anker was listed in the BrandZ™ China Global Brands List for the seventh consecutive year and ranked first in the electronic accessories category. Its revenue for the whole year last year was 8.604 billion yuan, a year-on-year increase of 25.12%, accounting for 49.14% of the total revenue;

Smart innovation ( eufy, AnkerMake) achieved revenue of 4.541 billion yuan, a year-on-year increase of 18.72%, accounting for 25.94% of the total revenue;

The smart audio and video category ( soundcore, Nebula, AnkerWork) achieved revenue of 4.285 billion yuan, a year-on-year increase of 26.47%, accounting for 24.48% of total revenue.

The latter two categories greatly increased Anker's gross profit margin, bringing its overall gross profit margin to 43.54% in 2023.

JMET suffered a loss of 90 million yuan

3C is a hot and profitable track, so in addition to Anker, Baseus, UGREEN, and PISEN have all squeezed in.

In addition to energy storage and charging products such as data cables , the three lucky treasures of cross-border e-commerce also include mobile phone cases and tempered glass films , among which the "first mobile phone case stock" was born - JMET.

In the same 3C track, Gemtek is not doing as well as Anker.

On the same day as Anker, Gemtek also released its 2023 performance report, showing that its revenue was 676 million yuan, a year-on-year decline of nearly 6 percentage points from 2022, and its losses decreased from 116 million yuan in 2022 to 92 million yuan in 2023 , with a relatively small reduction in losses.

Judging from the quarterly data, last year Gemtek was profitable only in the third quarter, earning 4.85 million yuan .

At present, all the big sellers going overseas are actively expanding their brand businesses. However, whether it is due to the difficulty in expanding the brand market or other problems, the own-brand business of JMET is shrinking. Last year, JMET's own-brand business achieved revenue of 112 million yuan, accounting for only 16.54% of the total revenue, and 23.21% in 2022.

But in terms of gross profit, the gross profit margin of JMET's own brand was as high as 54.67%, an increase of 5.46% from 2022; the ODM/OEM business was only 10.48% .

At the same time, Yien.com also noticed that Gemtek's overseas business decreased by 38%. Last year, its overseas market revenue was 223 million yuan, accounting for only 33%. In 2022, this market share was 50.07%.

This is the fourth year that Gemtek has been listed.

In the more than ten years since its establishment , JMET has carried out in-depth cooperation with major mobile phone manufacturers such as Huawei, Samsung, and Apple through mobile phone cases, and was eventually listed on the same day as Anker, becoming the "first mobile phone case stock."

But now the two seem to be heading towards two extremes, one with a net profit of billions, and the other with consecutive years of losses. Both are in the 3C track, although the specific categories are different, but the unlimited dividends of the big market seem to have overturned for Gemtek.

Anker

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