"The frame" of the Comprehensive electric Dealer: The loss rate of the vertical electric quotient is narrowed

The intermediary transaction SEO diagnoses Taobao guest stationmaster buys the Cloud host technology Hall

Only product will net loss rate to 4.3%, Sprint China's fastest-running profit gold shares

Jingdong, Gome, Suning easy to buy three comprehensive electric dealer "about the frame", again triggered the industry shocks, not to participate in the price war, vertical electric dealers, whether there are chance?

Lok Amoy Network CEO Bi Sheng long ago, "E-commerce is a scam", the electric business competition should be "chasing profits" to put on the issue focus. And in accordance with the German-Italian bank recently predicted that, if not an accident, only the goods will be possible in 2013 to achieve profitability, China's fastest-running profit gold shares.

Only the new release of the 2012 fiscal year in the second quarter of the results showed that the net loss rate has narrowed to 4.3%, the gross margin was widened to 21.8%, and the comprehensive electric business camp formed a strong contrast.

Net loss rate narrowed to 4.3%

Market analysts generally believe that the Jingdong Mall, "about the shelf", is intended to bring the competition through the price war completely down to the loss of market share, to lose to win the future market position.

Why is it difficult for China's electric companies to dump the "loss curse"? According to Le Amoy net C E o Bi Sheng List of the calculation formula, the current vertical purchase and sale of consumer electronics company Cost = Logistics 10%+ Warehousing 10%+ Reverse Logistics 3%+ Customer Service 1%+ Technology 4%+ Management 10%+ Marketing 10%+ collection fee 2%+ packaging 1% , calculate the cost is about 50%, and in the entire electric business industry, gross margin can exceed 50% of the category very few, in the mad price war, the margin is more weak, on average to reach 10% is good, so the net profit is-40%.

"But this is mainly because the early stage of the electricity business need to ' high fixed cost ' input, when the development to a certain scale of a large enough user base, its ' low variable cost ' advantage began to play, operational efficiency, the profit indicators will start to improve. "I believe that the changes in the financial and operational data of the Zhong Zhixin are a good proof of this," said a U.S. stock analyst.

In the second quarter of 2012, the net loss was reduced from $19.5 million trillion to $5.8 million a year earlier, according to earnings reports. The net loss rate fell to 4.3% from the same period last year 48.1%. In the case of non-US GAAP (excluding equity incentive payments), the net loss is $4.2 million and the net loss rate is reduced from 6.4% in the previous quarter to 3.1%.

The loss rate narrowed behind the sharp increase in the number of users and orders. 2009-2011 only products will be active customer volume of 38,000 people, 255,000 people and 1.33 million people, the annual total order volume of 7 10,000, 927,000 and 7.269 million respectively. Now, only the number of active users has soared to 1.5 million people, a single quarter order volume reached 4.7 million, an increase of 242.3%.

And in the scale up, only the goods will and suppliers of bargaining power enhanced, "only about 10% of the goods need to buy out." "Only product will CFO Yangdonghao said, at present only product will have with more than 3,000 brands have established cooperation, because the service is good, fast, take the volume of goods, the vast majority of suppliers are in their duplication of cooperation."

Profit constraint

One side is the net revenue and gross profit margin rapid increase; On the other side is the operating expenses and losses narrowed sharply, the German-Italian bank based on this forecast, if not an accident, only the goods will likely in 2013 to achieve profitability, become China's fastest-running profit gold shares.

But to the "prophecy into Reality", "to a large extent depends on warehousing logistics costs can be reduced." "I U.S. stock analyst Zhong Zhixin that, although the total warehousing logistics costs stay in a relatively high proportion, but only the goods will be distributed to each single warehousing logistics costs are falling, logistics costs accounted for the proportion of total revenue is also a downward trend."

This is because, "2011, the only goods will be in Jiangsu, Sichuan, Beijing, the establishment of Warehousing logistics Center (previously only in Guangdong has a storage center), the total area of the three new storage centers total 82,000 square meters, directly push high warehousing logistics total cost." Now four warehouses have been put into use, can transfer the national logistics to low-cost local logistics. "Only a senior executive told reporters in South China, the only product will be in Shanghai to build a 100,000 SQM warehouse Logistics center, the project is in negotiations with the local government to take the land." In addition, the only product will have to the relevant State departments to submit the application for Express licence.

However, some analysts also pointed out that if the cost of marketing/active users to simply measure, only the consumer cost of goods will not fall, which may be the only product will be one of the future profit constraints.

Interview: South all reporter Xiaoxin intern Zhou Yi Fei

Industry view

Shenya CEO

To profit, the main or four words, cut expenditure.

Chen, chairman of Han Investment

E-commerce big direction is not wrong, if you can continue to maintain growth, do not lose money, the more do the bigger, this is a promising future.