Recently, Xinhuike (831167) announced that the company plans to invest 168300,000,000 yuan to obtain Miji Xuanshang Smart Household Appliances (Shanghai)**hereinafter referred to as Miji Xuanshang) 5100% equity. After the completion of the acquisition, Miji Xuanshang will be included in the company's consolidated financial statements.
In fact, Xinhuike has invested in more than one company. Earlier this month, Xinhuike also invested in Xinneng Electric. After the completion of these two investments, the development of Xinhuike in the electrical industry will enter a new stage.
Implement the development strategy and extend to the downstream of the industrial chain
Xinhuike said that Miji Xuanshang has the exclusive license of the "Miji Home Design Germany" brand trademark in China, and has established the brand image of "Miji Life" and has a certain market influence. Judging from the price of the products of Miji Jingdong's self-operated official products, Miji is currently mainly positioned in the mid-to-high-end market.
According to public information, the Miji brand originated from the German Miji company and entered China in 2001. According to the official website of Miji Home Design Germany, Miji's products are mainly divided into five categories: rice cookers, electric cookers, air fryers, household items, and electric ceramic stoves.
From the perspective of the main product categories of Miji Home Design German, Xinhuike's acquisition of Miji Xuanshang is in line with Xinhuike's overall development strategy.
According to the prospectus of Xinhuike, since its establishment, Xinhuike has deeply cultivated the application of IH technology (electromagnetic heating technology) in the field of small kitchen appliances, and has a deep accumulation in the field of IH intelligent control. After more than 10 years of development, Xinhuike has explored and practiced the development path of "extending to the downstream of the industrial chain based on chip products equipped with the company's intelligent control scheme".
Due to the complementarity of the two in business, Xinhuike made it clear in the announcement of the purchase of assets that the team of Miji Xuanshang has a strong market development ability, and the company empowers Miji Xuanshang product innovation through the output of intelligent control technology, which is expected to form a good synergy with it.
In addition, from the perspective of revenue, Miji Xuanshang's operating income in 2022 was 16,536220,000 yuan, net profit of 684030,000 yuan. Therefore, the acquisition of Miji Xuanshang can also improve the profitability of Xinhuike.