The 22nd China (Guangzhou) Construction Expo opened ceremoniously. As the largest exhibition in the world and the first large-scale industry exhibition after the epidemic, the Construction Expo is highly expected by the industry and the market.
The reporter visited the Construction Expo and found that smart home has become the consensus of many manufacturers, and most of them choose the whole house solution of “everything connected”. However, some manufacturers have entered a relatively narrow track, focusing on a single category.
Jiang Zhaoning, founder and CEO of intelligent lighting brand yeelight (Yi Lai), told reporters that there are too many things in smart home design, so it’s hard to be refined, so yeelight won’t involve too much, “if we make it through, there will be at least more than 10 billion in lighting.” It also revealed that this year’s sales are expected to reach 1.5 billion, and is currently preparing for the listing of A-share technology innovation board.
300 offline stores opened in China this year
In recent years, driven by the Internet of things, 5g, big data, edge computing and other technologies, the smart home industry has entered a stage of rapid development. According to relevant data, it is estimated that the scale of China’s smart home market will reach 600 billion yuan in 2020, and the market scale is growing at an annual rate of 20% – 30%. The smart home industry is about to enter a leap forward development.
Intelligent lighting is also a part of smart home. Yeelight was founded in 2012. Its parent company is Qingdao Yilai Intelligent Technology Co., Ltd., with more than 300 employees. Yeelight focuses on the R & D, design, production and sales of intelligent lighting.
The staff of yeelight told Nandu that the core of yeelight is the R & D and application of light experience and intelligent aiot products. Its main business can be divided into single product sales of intelligent lighting equipment and design and implementation services of intelligent lighting products for the whole house. If you want to install a set of yeelight products in the whole family, the price is about 10000-100000.
Jiang Zhaoning, founder and CEO of intelligent lighting brand yeelight, said that yeelight began to expand offline channels last year, build offline experience stores, and provide intelligent lighting design and experience services for the whole house. At present, there are more than 30 stores nationwide, and yeelight online accounts for about 60%. In 2019, yeelight’s revenue has exceeded 1 billion yuan. This year, yeelight’s revenue is expected to reach 1.5 billion yuan“ The impact of the epidemic is relatively large. Originally, it was planned to increase by 50%, but now the target is reduced by 30%. ” It also said that more than 300 offline stores are expected to open nationwide this year.
For focusing on intelligent lighting products, Jiang Zhaoning interprets it like this: it is difficult to have a fixed concept of smart home, and the scope involved is too wide. And in the process of home decoration, it may be the final design has the final say, such as toilet and window, designers will help you choose the best products on the market. We hope that in the process, the designer chooses Yeelight. In fact, the domestic intelligent lighting market is not mature. Some famous lighting brands are relatively old, while new brands have not yet grown up. For example, Midea has also done this, but it is more to make use of Midea’s channel advantages to make brands. But we are the original development product, do the thing has the value to have the differentiation. Jiang Zhaoning said: our boundary will be relatively clear. If we want to make lighting transparent, we can achieve at least 10 billion (Sales).
According to the data of foresight.com and Minsheng Securities Research Institute, the global intelligent lighting market has increased year by year in recent years, and it is predicted that it will reach US $24.341 billion in 2020.
“Leave” Xiaomi protection and comfort zone for listing
According to the on-site staff, yeelight joined the Xiaomi ecological chain in 2014. At present, more than 60% of the Xiaomi products on the MI family are sold under the yeelight brand.
When it comes to the most unforgettable thing since the start-up, Jiang Zhaoning said that joining the Xiaomi ecological chain at the beginning solved the problem of survival. After years of development, traditional lighting giants have established relatively perfect channel resources. In order to obtain stronger channel voice, innovative enterprises should invest more energy in polishing products, and use the power of giants will become a necessary choice. Now the sales of Xiaomi stores and Xiaomi products still account for about half of yeelight’s annual sales. But eight years after yeelight was founded, Jiang Zhaoning wanted to challenge “leaving” Xiaomi’s comfort zone.
“In 2016, we started to do our own brand and launched a generation of core products. This is the second time to start a business, which is equivalent to leaving the protection of Xiaomi. In the past, we used to do more fast-moving consumer products for e-commerce. Now we do home furnishings, customization, services and lighting design, which are totally different from our previous experience. ” Jiang Zhaoning believes that there are more customers considering cost performance in rice noodles, but there are still many groups considering quality and innovation. If yeelight wants to grow, it will eventually get out of Xiaomi’s rice noodles and gain more fans“ We are also gradually breaking through our own capability boundary, and the company has been looking for a breakthrough. “
Jiang Zhaoning revealed that at present, in addition to Xiaomi, China is also in contact with Alibaba, Baidu and other Internet giants. Yeelight is also cooperating with interior design companies, whole house decoration design companies and decoration companies to promote customized intelligent lighting products. At the same time, the company also cooperates with Google, Softbank of Japan, naver of South Korea, yandex of Russia and SamSung of South Korea to explore the international market.
For the future, Jiang Zhaoning believes that while the sales volume increases, the proportion of Xiaomi channel can be further reduced. “In the long run, it may be more reasonable to reach about 20%. Independence is a necessary ability for a company. If it relies too much on a customer, the company will not do much.”
According to the data of foresight.com and Minsheng Securities Research Institute, traditional lighting giants such as Rex, OPP, mullinson, Philips and Panasonic have launched relevant intelligent lighting products. Huawei, Xiaomi, Ali and other manufacturers have incorporated intelligent lighting products into the aiot platform, while start-ups are looking for differentiated development paths in the market segments, There is no leading giant in the whole intelligent lighting market.
Although in the interview, Jiang Zhaoning has been emphasizing that “it’s better to only compare with yourself”, it’s no doubt what yeelight pursues to become a giant in the lighting industry. The capital market also began to pay attention to this innovative company. Nandu reporter learned from tianyancha that from round a financing on June 22, 2016 to the continuous strategic investment and round C + financing in April this year, yeelight has won the favor of CITIC Jinshi, Everbright Holdings, Yunfeng fund, Kaihui fund, blueprint venture capital, red star Macalline and other well-known investment institutions.
Jiang Zhaoning did not hide his “ambition” for the listing of many Xiaomi ecological chain enterprises in recent years. He told Nandu that yeelight was also preparing to go public, and it should be listed on the domestic science and technology innovation board at that time, but the specific listing time has not yet been determined.
Editor in charge: PJ