The main listed companies in the smart lock industry: Wang Lifeng (605268), dinggu Jichuang (300749), Asia Pacific Tianneng (833559), Xiaomi group (01810.hk), Haier Zhijia (600690), etc

　　Core data of this article: business layout history, business layout and operation, business performance, business planning

　　1. Comprehensive comparison of leading enterprises in China's intelligent lock industry

　　The leading enterprises of intelligent lock in China include Wang Lianfang, dinggu Jichuang, Asia Pacific Tianneng, etc. Among them, Wang Li Anfang and dinggu Jichuang are enterprises in the field of traditional locks and layout of intelligent locks; Asia Pacific Tianneng is a professional intelligent lock enterprise. The Asia Pacific Tianneng intelligent lock business accounted for the highest proportion, and the year-on-year growth rate of production and sales of Wang Li'an defense and dinggu set was the highest.

　　Note: the production and sales volume of dingguji is calculated according to the proportion of intelligent lock production and sales volume in the prospectus; The sales volume of Asia Pacific Tianneng is calculated according to the revenue and sales unit price of smart lock business; Dinggu Jichuang's business revenue is calculated according to the proportion of smart locks in the high-quality hardware business in the prospectus; Dinggu Jichuang's gross profit margin is the gross profit margin of fine hardware business.

　　2. Wang Li An Fang: the layout process of intelligent lock business

　　Wang Lianfang was founded in 1996; The company achieved a breakthrough in the research and development of traditional locks in the early stage: in 1998, the company successfully developed "multi-directional automatic lock"; In 2006, the company went public with super anti self-locking door; In 2015, the company successfully developed special anti lock.

　　In 2017, the company's Changtian intelligent project started construction, with a plant construction area of more than 200000 square meters, which is a manufacturing base for smart door locks and smart homes; In 2018, the construction of the company's western Sichuan Industrial Park was launched, mainly building anti-theft safety doors, indoor doors, armored doors, wooden doors, aluminum wood doors and windows, aluminum wood floors, and smart home production lines; In 2021, the company released a new generation of remote sensing smart locks with six "black technologies", including intelligent active identification, remote sensing + fast unlocking, and internal and external security positioning.

　　3. Wang Li An Fang: smart lock business layout and operation status

　　——The main source of operating income is steel safety door business

　　The main products of the company are steel safety doors and intelligent locks. In 2020, the company's steel safety door business revenue reached 1.579 billion yuan, accounting for 74.72% of revenue. The company's smart lock business revenue is 103.5 million, accounting for less than 5% of the total revenue, but the business revenue scale is equivalent to that of the other two enterprises.

　　The company's lock products mainly include intelligent locks and mechanical locks, with rich product line layout. Intelligent lock series products adopt three prevention discrete structure, with stronger security performance.

　　In 2021, the company released a new generation of remote sensing visual anti-theft intelligent lock, which has "black technology" such as intelligent active identification, remote sensing + fast unlocking, internal and external security positioning, Core Security + separation of three prevention, automatic anti lock of door closing, etc.

　　——The main source of operating income is domestic

　　Wang Li'an anti smart lock is used in smart home scenarios. The sales channels include engineering customers, dealers and e-commerce, of which e-commerce accounts for a small proportion, 1.15%. In 2020, the company's main operating revenue came from China, accounting for 98.71%.

　　——In 2020, the company's output of smart locks increased significantly year-on-year

　　In 2001, Wang Li started the research on the intellectualization of door locks. In the past two years, the penetration rate of domestic smart locks has increased, driving the development of the smart lock industry. In 2019, the output of Wang Li'an intelligent lock reached 7100. Affected by the low output base of the company's intelligent lock, the output of Wang Li'an intelligent lock increased significantly by 811% year-on-year to 64700 in 2020. In 2020, the company's sales of smart locks increased by 84% year-on-year to 163300.

　　Note: the sales volume of smart locks of the company includes the quantity of purchased smart locks.

　　——The company has developed a series of core key technologies of intelligent locks

　　Through independent development, the company has developed a series of core key technologies with leading advantages. The company's lock technology occupies an important position in the market. After years of technical precipitation and new technology development, the company's key technologies related to door locks are as follows:

　　According to the prospectus issued by the company in February 2021, the projects and progress of Wang Li's security low-power visual smart lock series, mobile phone inductive smart lock series, 3D face recognition smart lock and AI Gan smart lock cylinder are as follows:

　　4. Wang Lianfang: business performance of intelligent lock

　　The main customers of the company's smart door locks are engineering customers such as real estate development enterprises. From 2017 to 2020, the revenue of Wang Li'an's smart lock business increased steadily, but its proportion in the total operating revenue increased.

　　Affected by the declining prosperity of the real estate industry and the fierce competition in the industry, the gross profit margin of the company's smart lock business showed a downward trend from 2017 to 2020. In 2020, the overall gross profit margin of the company's smart lock was 38.66%.

　　5. Wang Li An Fang: Business Development Planning

　　The company focuses on the main business of safety door locks, plans to improve the product structure, extends to high-end wooden doors, full house customization, intelligent integration and other directions, and realizes the full ecological closed loop of smart home.

　　According to the prospectus issued by the company in February 2021, Wang Li security plans to raise funds for the "construction project of a new 360000 sets of IOT smart home production base":

　　The above data refer to the "analysis report on in-depth research and investment strategic planning of China's smart lock industry" issued by the forward looking Industry Research Institute. At the same time, the forward looking Industry Research Institute also provides solutions such as industrial big data, industrial research, industrial chain consulting, industrial map, industrial planning, park planning, industrial recruitment and investment, IPO feasibility study, prospectus writing, etc.

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