On December 14, Guangdong Federation of Industry and Commerce released several lists including "2022 Guangdong's Top 100 Private Enterprises" and "2022 Guangdong's Top 100 Private Enterprises in the Manufacturing Sector". The minimum annual revenue of businesses included in these lists has increased by RMB 1.69 billion, from RMB 12.06 billion in 2021 to RMB 13.75 billion in 2022, up 14% year-on-year.
Xinbao ranked 94th among the 2022 Guangdong's Top 100 Private Enterprises and 46th among the 2022 Guangdong's Top 100 Private Enterprises in the Manufacturing Sector.
Xinbao posted RMB 10.72 billion in revenue in the first three quarters of 2022. Its revenue from domestic business increased by 26.44% YoY to RMB 2.74 billion. Its total R&D expenses amounted to RMB 0.34 billion, up 12.35% YoY.
During the 2022 Double 11 Shopping Festival, the GMV generated by Xinbao's core self-incubated brand, Donlim, registered YoY growth of over 100%. Several products topped the Double 11 rankings of their sectors, categories and products. Donlim has launched a series of new products including Donlim Fabric Cleaning Machine, Donlim Steam Hot Water Cooker, Donlim Fruit and Vegetable Purifier II, etc., which all registered sound growth. The comprehensive capabilities in product R&D, design and production built up through long-term efforts are the reason behind the successive rollout of best sellers under Xinbao's brands. Xinbao is implementing the strategy of "one platform, professional products & brands" for independent brand development, emphasizing product innovation and the pursuit of product quality -- "no innovation, no project", as it is improving its comprehensive competitiveness.
Inclusion in the lists is a recognition of Xinbao's good performance in 2022. Going ahead, Xinbao will continue to focus on technological innovation, enhance its comprehensive competitiveness, and foster high-quality development of the small appliance sector.