Hisense Home Appliances Group (000921) H2 2024 earnings summary

Executive summary

• Revenue reached ¥92.75 billion, up 8.35% year-over-year; net profit attributable to shareholders was ¥3.35 billion, up 17.99%.

• Operating cash flow decreased 51.64% year-over-year to ¥5.13 billion.

• Overseas revenue grew 27.59% to ¥35.63 billion, with significant gains in Europe, Americas, and emerging markets.

• Proposed cash dividend of ¥12.30 per 10 shares, totaling ¥1.70 billion.

Financial highlights

• Gross margin for manufacturing was 22.49%, down 0.56 percentage points year-over-year.

• R&D expenses rose 24.01% to ¥3.45 billion, representing 3.72% of revenue.

• Total assets increased 5.69% to ¥69.70 billion; net assets attributable to shareholders rose 13.81% to ¥15.46 billion.

• Basic and diluted EPS were ¥2.46, up from ¥2.08 last year.

• Net profit margin improved to 3.61% from 3.32% year-over-year.

Outlook and guidance

• Focus on core technology breakthroughs, product innovation, and high-end market expansion.

• Accelerate overseas market growth and digital transformation.

• Continue to enhance ESG capabilities and green, low-carbon transformation.

• Maintain dividend payout ratio at 50% of net profit.