ASD(SZ:002403) Zheng Quan Ri Bao·2025-06-04 16:49Core Viewpoint - The domestic small home appliance market is experiencing intense competition and slowing growth, prompting many listed companies to focus on overseas markets for expansion [1][2]. Company Summary - Aishida Co., Ltd. plans to invest up to 150 million RMB (approximately 20.84 million USD) to establish a subsidiary in Vietnam for cooking utensils, small appliances, and industrial robots [1][2]. - The project aims to build a production and service system to shorten supply chain response times and better meet overseas customer demands, enhancing Aishida's market share and international brand recognition [2]. - Aishida's overseas sales revenue reached 1.34 billion RMB in 2024, a year-on-year increase of 39.79%, with the proportion of total revenue rising from 39.01% in 2023 to 45.80% in 2024 [2]. - The investment in Vietnam is a key move in Aishida's internationalization strategy, focusing on global market reconfiguration and cost structure optimization [2]. Industry Summary - Other small appliance companies are also expanding internationally, with Supor achieving 7.502 billion RMB in overseas sales in 2024, a 21.07% increase [3]. - Bear Electric's overseas sales reached 668 million RMB in 2024, growing by 80.81%, with a focus on Southeast Asia, Japan, South Korea, Europe, and North America [3]. - Beiding Crystal Technology's overseas revenue was 231 million RMB in 2024, up 36.15%, utilizing online and offline channels to cater to local market needs [3]. - Data from the China Electromechanical Products Import and Export Chamber indicates that kitchen and personal care appliance exports grew by 9.1% and 16.9% respectively in 2024 [4]. - The overall retail sales of kitchen small appliances declined by 0.8% in 2024, while the personal care appliance market showed mixed results, with only hair dryers experiencing growth [4]. - The future growth of Chinese small appliance companies is expected to rely on overseas market expansion, while domestic market success will depend on brand strength, user engagement, and product innovation [4].