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Analysis on China’s Home Appliances Chain Industry from 2006 to 2007
2007/5/23/14:10  来源:慧聪行业研究频道
 

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Abstract

1、Analysis on Actualities of China 's Home Appliances

From 2000 to 2004, the top 7 chain enterprises in home appliances in China who have got 172% increase in each year, and have occupied 40% market of 27 first-class cities in China which including Beijing and Shanghai .

The quick growth of Gome, Suning, Sanlian, Yongle, Five-Star Dazhong and other big home appliances enterprises have made the home appliances chain stores to be main selling channel increasingly, and selling shares of home appliances chain enterprises are increasing day by day in the whole home appliances market. The Linkshop have collected statistics on the selling performance of 17 chain enterprises of home appliances in 2004, their total selling amount is over 102billion and 270millionRMB, and the total number of chain stores is over 1,100.

Name of Enterprises

Selling Performance in 2004(10thousand)

Number of Stores

Gome

2387886

227

Suning

2210764

193

Yongle

1584910

108

Sanlian

1325580

254

Five-Star

937890

120

Dazhong

640000

70

Wuhan Gongmao

200000

16

Harbin Hei Tian'e

150000

9

Changsha Tongcheng

150000

9

Zhouzhou Bafang

128000

47

Shengzhen Shundian

110000

18

Chongqing Chongbai

100000

18

Qingdao Yatai

67300

Shi Jiazhuang Beiren

62000

9

Xiamen Siwen

60000

8

Guiyang Honghua

60000

47

Tianjing Yishang

53000

12

The data above are from the Heading Century Consulting Company.

The upsurge of new chain stores opening of home appliances is everywhere in cities of China in 2005, and the number of new chain stores of top home appliances enterprises is over 600. And in 2005, the number of new stores of Gome and Suning is over 150, the total number of chain stores of these two enterprises is respectively over 400 and 260. The regional chain enterprises, such as Yongle, who has adopted merger mode widely, and its number of new stores are increasing evidently. In the future, the top home appliances enterprises will open their new stores in the second and third-class cities, therefore the channel integration will be the development direction of the home appliances enterprises. Meanwhile, the management of the individual store has started to encounter challenges. Since Dec.11, 2004, China has abrogated the limitation to foreign investors to invest in commercial enterprises in regions, stock quantity and other aspects, the foreign capital started to flow into the field of home appliances circulation, and the fierce competition in the market has come with it. As a result, there are many stores of home appliances in one same area, the individual store has been challenged in someway, and their selling performance has been influenced in a certain extent. Currently, the total profit of chain industry of home appliances is only 10%, and the net profit is less than 3%.

In recent two years, Gome, Suning and Yongle, all of them have had more merging activities than before, the competition is increasingly fierce, and the three-top enterprises' complexion has been formed. Gome has got more and more obverse competition with other home appliances retailing magnates in the first-class market, and is continuously developing the second and third-class markets. The Heading Century thinks that those regional chain enterprises of home appliances will be forced into the corner, their share in the market will be decreased increasingly. At same time, the overseas home appliances retailing magnates also have entered into the China 's market to occupy some percentage, such as Bestbuy and others will open their stores in Beijing and other cities in China . In the future, the second and third-class market has great potential, but the whole market capacity is not infinite, the first market exploiter will be easier to set his position in the local market and brand image. And the following ones will possibly lose some benefits. Now, many domestic chain enterprises of home appliances have to think about that how can they hold profitable position in the market, and compete with the magnates at home and abroad and will not be defeated. Competing with overseas brands, the brand advantage is the weak point of domestic chain enterprises of home appliances. Thus, the domestic brands need to enhance the quality, techniques, and management to improve the core competitivity of enterprises.

2、Merging and Restructuring Motives of China 's Home Appliances Chain Industry

With entering into WTO, the world economy has more effect on China . Also the globalization is spreading faster in the world. In this new market environment, the home appliances industry has encountered much international competition, and has to be restructured. Eventually, some of them will be out of the market during competing, and only several large chain enterprises of home appliances can be left. Their resources can be optimized and leading advantage achieved during merging and restructuring to improve the market efficiency and energy, so that they compete with others who are in the same industry and overseas home appliances retailers.

According to the analysis of the Heading Century Company, there are several reasons for frequent merging and restructuring activities in home appliances chain industry in China .

1, Problem of market share and market concentration. Currently in China , there are over 30,000 home appliances retailers, but the top 5 enterprises only occupied 20% of whole home appliances retailing market. In the countries like U.S and Japan , their top 5 enterprises occupy 90% of the whole home appliances retailing market. Owing to low market concentration, it is not strong enough in enterprise scale and core competitivity, when overseas home appliances retailing magnates, like American Bestbuy, and Japanese Xiaodao Electronics, etc, enter into China's market, the domestic enterprises will be possibly in the disadvantageous position because of the capital, techniques and management are not strong enough while competing with overseas magnates. This is a shock to our national industry. Also this is why domestic top home appliances retailers are trying to enlarge channel construction through merger and enterprises' scale to compete with other enterprises at home and abroad.

2, Low net profit. The expanding of chain enterprises of home appliances is resulted from profit driving. The home appliances retailing in China probably is making the lowest profit in all industries, only 4%-5% on average, no more than 10% at most. But in the U.S, Bestbuy can make 25%. Under this situation, opening more stores is the way to reach higher saleroom, get lower price from the manufacturers, or higher profit on return. Today, market is fully opened up, but the market resource is limited, so some strong chain enterprises of home appliances have to enlarge their selling channel by merging and restructuring to occupy the market when overseas enterprises enter into China 's market.

3, Selling share of home appliances market in China results into enterprises' merging and acquiring. According to the analysis by Heading Century, there is 500billionRMB market share of home appliances, but the chain stores only occupy 20%, and this is the drive of chain enterprises magnate to enlarge their scale; brings integration to the whole home appliances retailing. And during the integration course, the small enterprises must be out of the market, or taken over by large ones with good management. Thus, the chain enterprises of home appliances shall transform their scale advantage into competition advantage, so that they can find a position in the market.

4, Fierce channel competition and fast expanding of chain enterprises result into conformation. The analysis from Heading Century shows that currently in China , we have no nationwide chain enterprises except Gome and Suning. Sanlian , Yongle and other large home appliances chain enterprises are still regional enterprises, they increasingly exploit the second and third-class markets after the first-class market is saturated. In the future years, the second and third-markets will be fiercer and merging and restructuring activities will be carried out more frequently than before for enterprises want to have better position in the market. Meanwhile, home appliances magnate TCL has established their own selling system in 2005. Owing to their good channel base in the second and third markets, and they have held the opportunity, so they will have threat on the future of traditional enterprises. Under this situation, many enterprises have chosen cooperation and conformation; the original competition relation has changed into the competition and cooperation relation, so that the both enterprises can fill each other's weak point, make their spreading faster, and save their time and cost.

Partial merged and restructured cases list in home appliances chain industry

Case

Time

Analysis

Gome purchased Yongle

2006

After purchase, the whole saleroom has broken through 70billionRMB; plus Yongle purchased Dazhong, the total stores are over 600, saleroom over 80billionRMB, which formed No .1 in China 's home appliances chain industry. However, whether resource integration lowered cost and played more important role in scale benefit are waiting to prove.

Yongle purchased Chankun

2005

July 1 st 2005, Yongle purchased Chankun. The latter comes from Taiwan, is a small home appliances enterprise which established its factory in Fujian long time ago and is started from producing electric iron, and later it became the largest 3C chain enterprise in China Taiwan.

Gome purchase Jiangshu Jin Taiyang

2006

Jin Taiyang was famous home appliances chain enterprises in jiangshu, it owned 8 stores in Changzhou; occupied 50,000 m2 ; and total saleroom was over 1billionRMB which occupied 50% market share in Changzhou market.

Bestbuy purchased Five-Star

2006

Bestbuy purchased Five-Star, the latter was the fourth after Gome, Suning and Yongle; and the former is the largest in America , who owns over 940 stores.

3 . Analysis on Merging and Restructuring Trend of Home Appliances Chain Industry in China

Though the home appliances industry in China keeps high development in recent years, the percentage of chain scale in home appliances industry is increasingly higher than before, the concentration is very low. this is because the entrance threshold into the home appliances industry is low, so that result into many medium and small-size enterprises opened a great number of stores which distributed the industry's scale, weaken enterprises' competitivity. As fierce competition as today with chain industry at home and broad, the domestic enterprises has to reform and seek approaches for the future. According to the analysis from Heading Century, under this situation, enterprises have to enlarge the market scale and occupancy on one hand; and enhance the management of stores and core competition on the other hand, So that the domestic enterprises can compete with overseas magnates (such as Bestbuy from America and Xiaodao from Japan) in home appliances chain industry. To improve the market occupancy, domestic enterprises have to exploit selling channels in the second and third-class markets, and enlarge stores coverage to enhance the competitivity. Every region has its regional chain industry of home appliances, so the most direct way for the top enterprises like Gome, Suning, Yongle, and Sanlian, etc, is conformation, which means to integrate local marketing channels. Meanwhile, broadened channels also can enhance pricing ability and profitability of enterprises.

By this situation, in the future, Gome, Suning and other magnates in home appliances industry shall make further effort to enlarge the market occupancy, and the only way the reach this goal is through merger, and to exploit the second and third-class market positively is keystone in recent years in the market of home appliances retailing. Also the merging and conforming activities can improve the market concentration and the competition with overseas enterprises. There are about 30,000 home appliances enterprises, the share of the top five totally is less than 20%; but in America, there are only 1,000, the share of Bestbuy, Home Appliances Market and other larger chain enterprises in home appliances industry is 60% of the whold American market. When foreign capital enters, domestic enterprises have not enough capital and capacity to compete. Therefore, domestic home appliances enterprises shall continue to improve the market concentration through merger.

In recent years, the global corporations and local enterprises, all of them encounter the challenge of low consumers' trustfulness and selling performance of individual store which push the chain stores into the corner. Thus, in the home appliances industry today, with continuously foreign capital flowing into China, domestic chain enterprises shall improve their competitivity with other chain enterprises at home and abroad by exploiting the second and third-class market through merging and restructuring, which also is the theme in the future years.

Catalogue
Analysis Report on Merging and Restructuring Trend of China’s Home Appliances Chain Industry
Chapter One Research summary
One Background
Two Content
Three Methods
Four Team
Chapter Two Current Development of Global Home Appliances Chain Industry
Five Development features of global home appliances chain industry
Six Structure of supply and demand of global home appliances chain industry
1 Analysis on industrial structure
2 Analysis on market scale development
3 Analysis on market demand trend
Seven Analysis on competition structure of global home appliances manufacturing
1 Analysis on concentration of market competition
2 Analysis on regional competition structure
3 Analysis on scale competition structure
Chapter Three Analysis on Actualities and Development Trend of China’s Home Appliances Chain Industry
Eight Current features of China’s home appliances chain industry
Nine Analysis on current investment of China’s home appliances chain industry in 2005
Ten Analysis on supply and demand relationship of China’s home appliances chain industry
1、Overall supply
1.1Industrial investment and output scale of China’s home appliances chain industry
1.2Analysis on production concentration of China’s home appliances chain industry
2、Overall demand
2.1Analysis on market scale and demand features of China’s home appliances chain industry
2.2Analysis on demand trend of China’s home appliances chain industry
Eleven Analysis on Home Appliances Chain Industry with Foreign Capital in China
1、Features and regional distribution of foreign capital entering into China’s home appliances chain industry
2、Analysis on main modes of foreign capital entering into China’s home appliances chain industry
3、Analysis on development strategy of foreign capital entering into China’s home appliances chain industry
Chapter Four Analysis on Market Subdivision of China’s Home Appliances Chain Industry
Twelve First-class market
1、Analysis on general situation and features
2、Analysis on market orientation and development strategy
3、Analysis on supply and capital chains
Thirteen Second-class market
1、Analysis on general situation and features
2、Analysis on market orientation and development strategy
Analysis on supply and capital chains
Fourteen Third-class market
1、Analysis on general situation and features
2、Analysis on market orientation and development strategy
Analysis on supply and capital chains
Chapter Five Analysis on Environment of Investment Policy of China’s Home Appliances Chain Industry
Fifteen Effect of macro-economic policies on home appliances chain industry
Sixteen Effect of industrial policies on home appliances chain industry
Chapter Six Analysis on Factors Affecting Development of Home Appliances Chain Industry
Seventeen Analysis on entrance and secession barrier of China’s home appliances chain industry
Eighteen SWOT analysis on business development of China’s home appliances chain industry
Nineteen Problems of development of China’s home appliances chain industry
Chapter Seven Analysis on Current Merging and Restructuring of China’s Home Appliances Chain Industry
Twenty Analysis on merging and restructuring background of China’s home appliances chain industry
Twenty-one Analysis on merging and restructuring features of China’s home appliances chain industry
Twenty-two Analysis on merging and restructuring obstacles of China’s home appliances chain industry
1、Policy
2、Capital
3、Technology
Chapter Eight Analysis on merging and restructuring cases of Overseas Home Appliances Chain Industry
Twenty-three Best Buy held Five Star Home Appliances
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Twenty-four Best Buy purchased Canadian FutureShop
1、Analysis on background and motive of merging and restructruring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Chapter Nine Analysis on Merging and Restructuring Trend of Overseas Home Appliances Chain in China
Twenty-five Analysis on development of overseas home appliances chain industry in China
1、Investment trend
2、Investment regions
3、Investment features
4、Structure of investment products
5、Market performance
Twenty-six Analysis on investment and merging and restructuring of Japanese Xiaodao Appliances in China
1、Analysis on current investment of Xiaodao in China
2、Analysis on core competitivity of Xiaodao
3、Analysis on merging and restructuring and feasibility of Xiaodao
Twenty-seven Analysis on investment and merging and restructuring of Best Buy in China
1、Analysis on current investment of Best Buy in China
2、Analysis on core competitivity of Best Buy
3、Analysis on merging and restructuring and feasibility of Best Buy
Twenty-eight American War Mart Chain Corporation
1、The Investment, Merging and Restructuring Analysis of War Mart in China
2、The Investment Situation of War Mart in China
3、The Core Competition Analysis of War Mart in China
4、The Merging and Restructuring Trend Analysis of War Mart in China
Twenty-nine French Carrefour
1、The Investment, Merging and Restructuring Analysis of Carrefour in China
2、The Investment Situation of Carrefour in China
3、The Core Competition Analysis of Carrefour in China
4、The Merging and Restructuring Trend Analysis of Carrefour in China
Thirty Japanese Dianqiao Electronics
1、The Investment, Merging and Restructuring Analysis of Japanese Dianxiao Electronics in China
2、The Investment Situation of Japanese Dianqiao Electronics in China
3、The Core Competition Analysis of Japanese Dianqiao Electronics in China
4、The Merging and Restructuring Trend Analysis of Japanese Dianqiao Electronics in China
Thirty-one German Press Market
1、The Investment, Merging and Restructuring Analysis of German Press Market in China
2、The Investment Situation of German Press Market in China
3、The Core Competition Analysis of German Press Market in China
4、The Merging and Restructuring Trend Analysis of German Press Market in China
Chapter Ten Analysis on Merging and Restructuring Cases of Domestic Home Appliances Chain Industry
Thirty-two Gome Purchased Wuhan Zhongshang
1、Analysis on background and motive of merging and restructruring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-three Gome Purchased Harbin Hei Tian’e
1、Analysis on background and motive of merging and restructruring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-four Gome Merged Jiangshu Jin Taiyang
1、Analysis on background and motive of merging and restructruring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-five Gome Purchased Shenzhen Yi Haojia
1、Analysis on background and motive of merging and restructruring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-six Yongle Purchased Chankun
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-seven Dazhong Purchased Yongle Cooperation
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-eight Yongle Purchased Xiamen Siwen Appliances
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Thirty-nine Yongle Purchased Nanjing Shangyuan
1、Analysis on background and motive of merging and restructruring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Forty Yongle Purchased Tongli
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Forty-one Five-Star Purchased Qingdao Yatai
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Forty-two Dongguan Shishang Appliances Purchased Xinghua’s Eight Stores
1、Analysis on background and motive of merging and restructuring
2、Analysis on process and scheme of merging and restructuring
3、Analysis on scheme and succeed and failed experience
4、Analysis on development strategy after integration
Chapter Eleven Analysis on Main Competitivities of Merging and Restructuring of China’s Home Appliances Chain Industry
Forty-three Gome
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、Analysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Forty-four Suning Home Appliances
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、Analysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Forty-five Dazhong Home Appliances
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、nalysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Forty-six Jiangshu Five-Star
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、Analysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Forty-seven Sanlian Home Appliances
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、Analysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Forty-eight Zhengzhou Bafeng Home Appliances
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、Analysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Forty-nine Guiyang Honghua Home Appliances
1、Analysis on Gome’s Products Structure
2、Company’s Capital Operation
3、Analysis on IT Competitivity
4、Analysis on Marketing Network
5、Analysis on Main Suppliers
6、Analysis on Development Strategy
7、Analysis on Merging and Restructuring Trend and Feasibility
Chapter Twelve Analysis on Regional Merging and Restructuring Opportunities of China’s Home Appliances Chain Industry
Fifty Bohai Economic Zone
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Fifty-one Changjiang Delta Economic Zone
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Fifty-two Zhujiang Delta Economic Zone
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Fifty-three Northeast
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Fifty-four Central Part
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Fifty-five Southwest
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Fifty-six Northwest
1、Analysis on Development Features and Competitivities of Regional Home Appliances Industry
2、Analysis on Merging and Restructuring Trend and Feasibility of Regional Home Appliances Industry
Chapter Thirteen Analysis on Merging and Restructuring Opportunities in Industrial Chain of China’s Home Appliances Chain Industry
Fifty-seven Analysis on Industrial Chain of Home Appliances Chain Industry
Fifty-eight Analysis on Merging and Restructuring Opportunities in Upriver Enterprises of Home Appliances Chain Industry
Fifty-nine Analysis on Merging and Restructuring Opportunities with Other Industries of Home Appliances Chain Industry
Chapter Fourteen Analysis on Merging and Restructuring Opportunities in Scale of China’s Home Appliances Chain Industry
Sixty Analysis on Merging and Restructuring Opportunities of Large-Scale Home Appliances Chain Industry
Sixty-one Analysis on Merging and Restructuring Opportunities of Medium-Size Home Appliances Chain Industry
1、Nong Gongshang
1.1Selling
1.2Products Structure
1.3Market Channel
1.4Core Competitivity
1.5Development Strategy
1.6Analysis on Merging and Restructuring Feasibility
1.7Analysis on Value of Merging and Restructuring
2、Jinan Sanlian
2.1Selling
2.2Products Structure
2.3Market Channel
2.4Core Competitivity
2.5Development Strategy
2.6Analysis on Merging and Restructuring Feasibility
2.7Analysis on Value of Merging and Restructuring
3、Zhengzhou Bafang
3.1 Selling
3.2Products Structure
3.3Market Channel
3.4Core Competitivity
3.5Development Strategy
3.6Analysis on Merging and Restructuring Feasibility
3.7Analysis on Value of Merging and Restructuring
4、Guizhou Honghua
4.1Selling
4.2Products Structure
4.3Market Channel
4.4Core Competitivity
4.5Development Strategy
4.6Analysis on Merging and Restructuring Feasibility
4.7Analysis on Value of Merging and Restructuring
Sixty-two Analysis on Merging and Restructuring Opportunities of Small-Size Home Appliances Chain Industry
1、Chongqing Shangshe
1.1Selling
1.2Products Structure
1.3Market Channel
1.4Core Competitivity
1.5Development Strategy
1.6Analysis on Merging and Restructuring Feasibility
1.7Analysis on Value of Merging and Restructuring
2、Harbin Hei Tian’e
2.1Selling
2.2Products Structure
2.3Market Channel
2.4Core Competitivity
2.5Development Strategy
2.6Analysis on Merging and Restructuring Feasibility
2.7Analysis on Value of Merging and Restructuring
3、Hefei Baida
3.1Selling
3.2Products Structure
3.3Market Channel
3.4Core Competitivity
3.5Development Strategy
3.6Analysis on Merging and Restructuring Feasibility
3.7Analysis on Value of Merging and Restructuring
4、Tianjin Yishang
4.1Selling
4.2Products Structure
4.3Market Channel
4.4Core Competitivity
4.5Development Strategy
4.6Analysis on Merging and Restructuring Feasibility
4.7Analysis on Value of Merging and Restructuring
5、Dongguan Shishang
5.1Selling
5.2Products Structure
5.3Market Channel
5.4Core Competitivity
5.5Development Strategy
5.6Analysis on Merging and Restructuring Feasibility
5.7Analysis on Value of Merging and Restructuring
Chapter Fifteen Analysis Merging and Restructuring Risk of China’s Home Appliances Chain Industry
Chapter Sixteen Suggestion on Merging and Restructuring of China’s Home Appliances Chain Industry

  
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