Anker’s latest report shows a seven-year streak of revenue growth

April 19, 2023 9:36 pm

Anker Innovations, a consumer electronics  company, has released its latest financial report for the year 2022. According to previous reports, the company has experienced a seven-year streak of revenue growth.

The report highlights a positive year for the company, with a total revenue of 142.51 billion yuan ($22 billion USD), a 13.33% increase from the previous year. 96% of which comes from the company’s overseas markets. The net profit attributable to shareholders of the listed company was 11.43 billion yuan ($1.76 billion USD), a 16.43% increase from the previous year.

Anker’s main source of revenue came from its charging products. As the company’s earliest and most prominent product category, charging products posted steady growth — In 2022, Anker’s charging products achieved revenue of CNY 6.876 billion, a 23.84% YoY growth, accounting for 48.25% of total revenue.

The second largest attributor to Anker’s revenue is its “smart innovation products”, which included smart household appliances, smart projectors and others. The smart innovation product category achieved revenue of CNY 4.391 billion, a 7.02% YoY growth, accounting for 30.82% of total revenue.

In addition, the company’s wireless audio products accounted for 19.80% of total revenue, which is 2.822 billion yuan, 1.06% down from previous year.  

Notably, 2022 marks the year that Anker taps into the outdoor energy market. In May 2022, the company launched Anker PowerHouse757, its outdoor energy flagship product that uses lithium iron phosphate batteries and is equipped with independently developed bidirectional inverter technology. This product was the company's first outdoor energy product with a power of over 1500W. In December 2022, the company launched Anker PowerHouse767, an upgraded version of the PowerHouse757 with 2400W power.

The company is expanding its sales solutions towards its omnichannel strategy and achieved significant growth with its own online sites. Started off as an online marketplace seller, Anker now boasts six major brands, including Anker, Soundcore, Eufy, Nebula, Ankerwork, and AnkerMake, that cover a wide range of product categories.

In 2022, the independent sites of these six brands increased their combined revenue by 71.75% to 676 million yuan ($105 million USD), according for 4.75% of the total revenue compared to previous year’s 1.62%. Meanwhile, Amazon remains the company’s primary source of revenue — approximately 8 billion yuan in 2022, accounting for 55.95% of the total, with a year-on-year growth of over 16%.

The company also saw slight growth in terms of revenue through offline channels. In 2022, the company’s offline revenue (including retail store, independent electronic stores and professional sellers) reached 47.97 billion yuan ($7.4 billion USD), a 4.87% increase from the previous year.