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Public company info - Chervon Holdings Limited , 02285.HK
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Chervon Holdings Limited, 02285.HK - Company Profile
Chairman Pan Longquan
Share Issued (share) 479,000,000
Par Currency
Par Value 0.0
Industry Machinery & Equipment
Corporate Profile Business Summary: The group is a global provider of power tools and outdoor power equipment ("OPE"). Performance for the year: The group’s revenue increased at a CAGR of 31.9% from US$690.7 million in 2018 to US$1,200.9 million in 2020. Business Review The group’s focus on innovation, especially lithium-ion battery system technology, has enabled us to achieve significant scale and rapid growth. According to the Frost & Sullivan Report, in 2020, the group ranked the 13th and accounted for approximately 1.9% of the combined global power tool and OPE markets by revenue. the group also ranked the 9th and accounted for approximately 1.7% of the global power tool market, and ranked the 10th and accounted for approximately 2.1% of the global OPE market, in each case by revenue, according to the same report. In 2020, the global electric power tools market accounted for 74.1% of the global power tools market, and the global electric OPE market accounted for 18.6% of the global OPE market, according to the Frost & Sullivan Report. the group’s global ranking by revenue for electric power tools rose from the 9th in 2018 to the 7th in 2020, and the group’s global ranking by revenue for electric OPE rose quickly from the 7th in 2018 to the 2nd in 2020, according to the same source. From 2018 to 2020, the group’s revenue from power tools grew by a CAGR of 16.9%, and the group’s revenue from OPE grew by a CAGR of 62.8%. The group’s research and development capabilities have enabled us to seize market opportunities amidst a period of growth and rapid transformation within the group’s industry, particularly with respect to the lithium-ion/cordless market segment. the group’s revenue from the lithium-ion battery powered products grew from US$347.3 million in 2018 to US$827.3 million in 2020, representing a CAGR of 54.3%. According to the Frost & Sullivan Report, end users have shown increasing preference for lithium-ion battery power tools and OPE, due to benefits such as enhanced user experience, cost-efficiency and environmental friendliness, while delivering power and performance that can rival traditional products. According to the Frost & Sullivan Report, from 2020 to 2025, the global cordless power tool market is projected to grow at a CAGR of 9.9% and the global cordless OPE market is projected to grow at a CAGR of 9.0%. Having recognized the transformative impact of lithium-ion batteries and related technologies, the group focused on this industry segment and became one of the first businesses in the world to commercialize lithium-ion battery power tools in 2006 and high-voltage OPE products in 2014. According to the Frost & Sullivan Report, power tools can be broadly defined as the type of tools that operate with additional power and mechanism other than purely manual labor. Examples include screwdrivers, drills, saws, sanders, miter saws and grinders, among others. According to the same source, OPE products can be broadly defined as tools or equipment that are primarily used for lawn, garden or yard maintenance. Examples include lawn mowers, leaf blowers, snow blowers and trimmers, among others. Please refer to the section headed “Business – the group’s Products” of this document for further details. THE GROUP’S PRODUCTS AND BRANDS PRODUCTS AND BRANDS the group offer a comprehensive range of products under a portfolio of well-recognized brands, which are tailored to address the diverse needs of the group’s end users around the world. the group’s power tools target both industrial/professional and consumer end users, and the group’s OPE products target both premium and mass-market end users. the group currently own five differentiated and well-recognized brands that cover key geographies and segments, namely EGO, FLEX, SKIL, DEVON and X-TRON. In particular, the group’s EGO brand has gained strong recognition in the global electric OPE market since its establishment in 2013. Prospects: The group is committed to driving sustainable long-term growth and strengthening the group’s market position in electric power tool and OPE products through the following strategies: • Develop and commercialize new products that combine advanced technologies with user-friendly designs; • Expand the group’s sales and distribution network globally with a growing emphasis on e-commerce platforms; • Further enhance market recognition of the group’s brands; • Continue to expand production capacities and improve operational efficiency; and • Invest in human capital to enhance marketing and research and development.

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