Consumer China

Zhongshan Vatti: Property market concerns

  • Published 06 May 2010

A potential slowdown in the property market is expected to impact the hob and oven manufacturer's sales.

Background:Zhongshan Vatti Gas Appliance (002035:SZ) manufactures gas and electric stoves, ovens and water heaters. It sells products mostly to the domestic market under the Vatti, Vantage and Simplica brands. The company has around an 11% share of the gas stove segment, making it the market leader, China Market Monitor, a consultancy estimates. In recent years, the company has been trying to move up the value chain out of the crowded low end of the market where price wars persist. Its push into higher end cookers has put it on the same playing field as strong overseas brands such as Siemens (SIE:ETR) and Japan's Rinnai (5947:TYO).

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