/PRZWT/BEIJING, September 6, 2024 - Longevism is the golden rule of investment and the spiritual core of a company's stable development. Xiaoxiong Electric Appliances is a good example - from the ascendant to the blossoming of a hundred flowers, and then to the incremental shift to stock. Over the past 18 years, Xiaoxiong Electric Appliances has been user-centered and adhered to the development logic of longevity. There is always a trace to follow.
The most intuitive manifestation is that Xiaoxiong Electric has always adhered to innovation and efficient innovation, and has continuously created the "long-term value" of the brand with long-term principles and long-term investment.
Adhere to innovation, take user requests as the direction of R & D and extension products
As mentioned earlier, the process of long-term doctrine is a process of continuous innovation and continuous creation of value. This is also the consistent persistence and pursuit of Xiaoxiong Electric Appliances. In the past 10 years, Xiaoxiong Electric's R & D investment has always maintained growth. According to the latest financial report, in the first half of 2024, Xiaoxiong Electric's R & D investment increased by 35.08% year-on-year, setting a new high.
First-class investment, in exchange for first-class configuration and team. At present, Xiaoxiong Electric has more than 10 R & D teams and nearly 400 R & D personnel, developing more than 100 new products and adding more than 300 practical and invention patents every year; based on long-term value orientation, it has also built a user technology pre-research team, focusing on the next 3-5 years of new technology research, new material application, new process introduction, etc.; at the same time, it has also created more than 10 design teams, through the integration of industrial design, user experience and future product design trends, the results of the research into design elements attached to product innovation, to achieve precise innovation.
These have become the "strongest bases" to ensure the continuous improvement of Bear Electric's innovation strength. As Li Yifeng, chairperson and general manager of Bear Electric, said: "No matter the size of the user request, as long as it exists, Bear Electric will do it." And this also fits the layout logic of Bear Electric's "product first".
In terms of product innovation, Bear Electric Appliances continues to gain insight into the needs of different groups of people and different life scenarios for Product Research & Development, and solves user pain points and meets user requests by continuously upgrading the visual beauty and functional experience of the product, creating a better user experience. For example, for the characteristics of young people who are lazy and particular, its washing machine has an innovative double-cabin design to achieve complete separation of small clothes such as underwear and socks; for the pain points that many young people like to eat together but have different tastes, its multi-functional stacked pot innovative patent foldable design, covers an area of only 0.1O, but can meet the needs of fancy food in one pot....
Over the past 18 years, from a yogurt maker that leads the trend of healthy living, to a "double-layer egg cooker" that is convenient for breakfast, an electric lunch box that is born for the needs of bringing meals for lunch, to a "health pot" for everyone in the office, and a "steel good" water dispenser that can drink healthy and good water at any time... Today, Bear Electric has independently developed more than 80 categories and more than 900 models of products, covering diverse life scenarios such as home, office, mother and baby. Behind each new product is not just a cold product, but also a diverse lifestyle of users.
"User request as the center" drives design upgrades, product innovation, and technology iterations, which is a concrete embodiment of Bear Electric's adherence to long-term doctrine. Because user requests have never stopped changing and growing, it is undoubtedly more difficult to meet diverse needs, higher investment, and longer front lines. But at the same time, specific user requests are also like a road book, guiding Bear Electric's product innovation direction is good, and the category expansion angle is not biased, ensuring its growth and development.
Global presence, supported by digital transformation and smart manufacturing
In addition to the product strategy, the corporate strategy also fully demonstrates the long-term vision of Xiaoxiong Electric in terms of future planning and development. At the 18th anniversary celebration this year, Xiaoxiong Electric officially announced its new brand goal to the outside world: to become a global leader in small household appliances.
Facts are enough to prove that this is based on adequate planning and preparation.
At present, Bear Electric Appliances has entered more than 100 countries such as the United States, Japan, South Korea, and Thailand. Among them, the market in South East Asia is making rapid progress, with high market acceptance and enthusiastic response from users. For example, according to the Malaysian food culture, the one-click stew design of domestic "nutritious soup" has been improved into an electric stew pot with the function of "meat bone tea", which has become a hit; the development of emerging markets such as the United States and Europe has also shown a good momentum. It has cooperated with the top TV shopping in the United States and launched a number of cooperation projects one after another, so that its own brand overseas exposure and recognition have rapidly increased.
It is worth mentioning that Bear Electric Appliances, which has an innate advantage in Internet channels, has also been further leveraging cross-border e-commerce to focus on young groups in recent years, continuously building its underlying capabilities, and continuously expanding its channel coverage through accurate product selection and fine promotion, so that its brand advantage can be accelerated overseas.
But while the market scale is expanding rapidly and market demand continues to grow, new challenges are also coming as scheduled: how to efficiently manage the global market and how to keep production capacity up with sales? Li Yifeng actually gave the answer as early as 2023: to improve digital capabilities and intelligent manufacturing capabilities, overseas layout can come naturally.
Specifically, at the level of digital capacity building, Xiaoxiong Electric has launched the "321" digital system upgrade project, using digital technology as the base to comprehensively upgrade the three major business platforms, two major support platforms and digital enabling platforms, fully empowering digital technology to business operations and intelligent manufacturing, helping to create new quality productivity, and greatly improving the overall business operation efficiency and organizational management efficiency.
At the same time, Xiaoxiong Electric Appliances is also continuing to consolidate its intelligent manufacturing capabilities. At present, it has built 5 major intelligent manufacturing bases, including 4 professional complete machine factories and multiple core component manufacturing factories, to achieve self-production of complete machines and core components, and comprehensively promote the optimization and upgrading of the supply chain. At the same time, it has also established a professional laboratory of about 2,000 square meters to achieve professional inspection and testing of product performance, materials, environment, etc., to ensure "high yield and higher quality".
This series of layouts will continue to empower and support the globalization exploration and localization of Bear Electric Appliances at present and in the future, accelerate the spillover of its advanced manufacturing capabilities, help Bear Electric Appliances build localized operation systems in different countries and regions, and accelerate the development and penetration of overseas markets.
Throughout the 18-year growth path of Xiaoxiong Electric Appliances, it is also a user-centered and continuous technological innovation, long-term practice of product-first and manufacturing-oriented development path. The core along the way is nothing more than two words - persistence. And this is also the core of longevity.
