Bull Group regains market value of 100 billion

According to the official website of Oriental Fortune.com, as of 10:18 am on May 10, 2024, the circulating market value of Bull Group was 113.1 billion, and the total market value was 113.6 billion.

Before returning to a market value of 100 billion, Bull Group has just released its 2023 annual report.

Performance hits new highs, market value returns to RMB 100 billion

Bull Group was listed on February 6, 2020; on February 17 of the same year, Bull Group's market value exceeded 100 billion for the first time, becoming the first domestic enterprise in the field of lighting electrical application products with a market value exceeding RMB 100 billion. Subsequently, the stock price of Bull Group performed very well and once became a "permanent member" of the 100 billion market capitalization club.

But the good times did not last long. On September 27, 2021, with the issuance of a huge fine of 294.81 million yuan and the sluggish real estate market under the macro environment, the stock price of Bull Group has experienced a long period of shock adjustment, and its market value of 100 billion is no longer.

Coming to 2024, its market value has undergone a qualitative change in April: the market value was 96.064 billion on April 25, and rose to 103.865 billion on April 26. It has maintained a market value of 100 billion for many consecutive days. According to the official website of Flush, the total market value of Bull Group in the past month is as follows:

April 25 became the watershed in the market value of Bull Group. It is reported that it released its 2023 annual report on the evening of the 25th, and its record-breaking performance immediately fed back into the company's stock price, thereby increasing the company's market value.

Bull Group stated that in 2023, in the face of the complex domestic and international economic situation, the company reformed, innovated, worked hard, and achieved good results. Revenue and profits hit record highs again, achieving steady growth through the cycle; in 2023, the company's brand value reached a new high, and ranked 351st on the World Brand Laboratory's 2023 "China's 500 Most Valuable Brands" list with a brand value of 24.567 billion yuan.

On April 25, Bull Group also released its first quarter report for 2024. It is reported that in the first quarter of 2024, it achieved operating income of 3.803 billion yuan, a year-on-year increase of 14.06%; net profit was 929 million yuan, a year-on-year increase of 26.27%.

The lighting business continues to achieve breakthroughs

The Bull Group was founded in 1995, starting with the socket business, and became the "biggest brother" in China's socket market with a market share of 20% in 2001. In 2014, the Bull Group entered the LED lighting field, and then continued to expand the LED lighting product line, and in 2019 completed the layout of smart switches, smart lighting and other home lighting products; in 2021, the Bull Group once again crossed borders and entered the new energy field.

At this point, Bull Group has formed three main businesses: electrical connection business, intelligent electrical lighting business, and new energy business. Specifically, electrical connection products mainly include converters (i.e. sockets), digital accessories, etc.; smart electrical lighting products mainly include wall switch sockets, LED lighting (smart without main lights), safety circuit breakers, smart bathroom heaters, smart door locks, smart clothes dryers, smart curtain machines, etc.; new energy products mainly include new energy vehicle charging piles/guns, household energy storage, industrial and commercial energy storage, outdoor portable energy storage, etc.

Among them, the intelligent electrical lighting business, as one of the two traditional main businesses of Bull Group, has been developing well in recent years.

In 2023, Bull Group is committed to creating an ecosystem of smart front-loaded electrical products with smart main lights as the core, including wall switches and sockets, LED lighting, bathroom heaters, circuit breakers, smart door locks, smart clothes dryers and other whole-house front-loaded products. Bull Group also adapted to changes in consumption habits and promoted the transformation of the new retail model of offline flagship stores + online traffic, and finally overcame the challenge of in-depth adjustments in the real estate industry. The smart electrical lighting business achieved revenue of 7.902 billion yuan for the whole year, a year-on-year increase of 15.37%; the comprehensive gross profit margin of this business was 45.81%, a year-on-year increase of 3.88 percentage points.

In addition, Bull Group has also made new moves in terms of brands and projects.

In terms of brand, in March 2023, Bull Group officially launched the industry's first professional mainless light brand: Muguang in Zhongshan, Guangdong. It officially announced the adoption of the "Bull + Muguang" brand two-wheel drive strategy. In 2023, the "Muguang" brand has deployed nearly 400 professional experience stores across the country, achieving a good start.

In terms of projects, on December 28, 2023, the groundbreaking ceremony for the Bull Group’s intelligent lighting R&D and manufacturing project was held in Huizhou Zhongkai High-tech Zone. As the R&D center and intelligent manufacturing center of Bull Group in the Guangdong-Hong Kong-Macao Greater Bay Area, the project plans to invest approximately 700 million yuan in the first phase and has a planned land area of ​​approximately 40,000 square meters. After completion, it will be incubated and built into Bull's next tens of billions brand.

It is worth mentioning that according to TrendForce Consulting research, approximately 5.8 billion LED light sources and lamps will gradually reach the limit of their service life and be retired in 2024, resulting in considerable demand for secondary replacement. Taking this opportunity, the LED lighting market is expected to reverse its decline, and Bull Group is also expected to ride on this shareholder momentum to achieve greater breakthroughs in the smart electrical lighting business.

It is reported that in terms of smart electrical lighting business, Bull Group will still focus on the upgrading needs of home decoration consumption, accelerate the construction of a pre-installation ecology with smart main lights as the core, and vigorously promote the construction of decoration channel flagship stores and new retail models. (Text: LEDinside Lynn)

Please indicate the source when reprinting! For more LED information, please pay attention to the official website (www.ledinside.cn) or search the WeChat public account (LEDinside).