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May 13, 2024 18:06

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Despite the complex and ever-changing market environment, there have also been strong sales that have stabilized the market.

This article is authorized to be reprinted from: Cross Society

Author: Li Yizhong

Annual revenue reaches 2.4 billion yuan

On the road to cross-border e-commerce, some people have stagnated in the levels, while others have risen against the wind, passing five levels and slaying six generals, achieving enviable results.

Recently, Hals brand, the first listed company in the Chinese cup and kettle industry, released its 2023 annual performance report, with a revenue of up to 2.4 billion yuan. According to the annual report data, Hals achieved steady revenue growth in 2023. Despite a year-on-year decrease of 0.86%, the net profit attributable to the parent company achieved a year-on-year increase of 21.31%, reaching RMB 250 million.

Getting rich by selling cups, cross-border brands earn 2.4 billion yuan in a year

Hals 2023 Performance Map Source: Futu

Specifically, Hals' main business focuses on the research and development, design, production, and sales of various types of cups and kettles made of different materials.

Among them, vacuum vessels, as the core product of the company, generated a revenue of 2.017 billion yuan, accounting for the vast majority of the company's revenue, reaching 83.8%. At the same time, Hals achieved significant growth in revenue from aluminum bottles and other non vacuum vessels, reaching 346 million yuan, a year-on-year increase of 18.14%. This growth not only brings new profit growth points to the company, but also further enriches its product line and enhances market competitiveness.

Getting rich by selling cups, cross-border brands earn 2.4 billion yuan in a year

Main business performance chart source: Listed company website

Focusing on cups and kettles for over 20 years, Hals, as a benchmark enterprise in the domestic cup and kettle industry, has always been committed to providing consumers with high-quality and diversified products. It is worth mentioning that in recent years, Hals has made qualitative progress in expanding its independent brand and digital transformation. It has not only completed the identity transformation from "OEM" to "OEM+independent brand", but also actively embraced intelligent technology.

In 2023, the first Yangtze River Delta Top 100 Enterprise Development Forum was held in Zhejiang Province, where the "2022 Yangtze River Delta Brand Influence Top 100 Enterprises List" was released, and Hals successfully made it onto the list. In addition, Hals has also gone global, with its Journey series products winning the 2024 German iF Design Award.

Getting rich by selling cups, cross-border brands earn 2.4 billion yuan in a year

Received international awards Image source: Hals HAERS

Domestic products have gone abroad

The success of Hals actually reflects to some extent the rise of Chinese products in the global consumer market.

In the past, Chinese manufacturing often appeared in the international market as "cheap" and "low-end". However, with the advancement of technology and the increasing demand for quality from consumers, domestic products have begun to focus on product quality and research and development innovation, winning the trust and love of overseas consumers.

The data released by the South Korean Bureau of Statistics strongly confirms this. Data shows that in the first quarter of 2024, South Korean consumers showed strong spending on cross-border e-commerce, with transaction amounts reaching 1.65 trillion Korean won (approximately 1.2 billion US dollars), a year-on-year increase of 9.4%. Among them, the transaction volume with Chinese e-commerce sellers was the highest, with a transaction amount of nearly 1 trillion Korean won, reaching 938.4 billion Korean won, an increase of 53.9%.

Getting rich by selling cups, cross-border brands earn 2.4 billion yuan in a year

Chinese products are highly popular Image source: en.yna.co.kr

It can be said that today's "Chinese goods" have torn off the stereotypical labels of the past and are crazily harvesting the hearts of overseas consumers with advantages such as high cost-effectiveness and superior quality. Many brands have established a foothold overseas and achieved good results.

For example, WOSADO Yuetong, a beauty brand under Shenzhen Qianhai Magmei Technology Co., Ltd., had already accounted for 35% of the overall industry's sales by the end of 2022, becoming the top brand in the magnetic suction false eyelash industry. The sales revenue in the first half of 2023 reached 300 million RMB. In addition, Yuetong has successfully topped the TikTok Shop fast-moving consumer goods industry brand and explosive product lists in multiple Southeast Asian countries such as Singapore and Thailand.

Getting rich by selling cups, cross-border brands earn 2.4 billion yuan in a year

WOSADO Yuetong on the list Image source: WOSADO Yuetong

For example, Chinese melon seeds have also opened up sales overseas, and this brand is well-known as the leader of the melon seed industry - Qiaqia. It is reported that since 2015, Qiaqia's overseas market revenue has maintained an annual growth of at least 20%. Nowadays, Qiaqia Guazi is exported to the world and has business layout in nearly 50 countries and regions such as Southeast Asia, Europe and America, with overseas revenue of nearly 600 million yuan.

In short, the rise of domestic brands is an important manifestation of the transformation and upgrading of China's manufacturing industry and the improvement of quality. With the continuous promotion of quality upgrading, cultural export, technological empowerment, and marketing strategies, domestic brands will continue to grow in global competition and move towards the world stage. We look forward to more domestic brands going global and bringing more high-quality, innovative, and culturally meaningful products to global consumers.

Cover Image Source: Image Worm Creativity

(Source: Friends of Hugo Net)

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2024-05-13 18:06