Hisense Visual Technology (600060) H1 2024 earnings summary

Executive summary

• Revenue reached ¥25.46 billion for H1 2024, up 2.36% year-over-year; main business revenue grew 7.14%.

• Net profit attributable to shareholders was ¥834 million, down 19.56% year-over-year.

• Cash flow from operations increased 79.23% to ¥1.21 billion, providing strong liquidity.

• Company maintained global No.2 TV shipment share and No.1 in 100-inch+ segment.

• High-end and large-screen products drove structural upgrades and overseas growth.

Financial highlights

• Operating income: ¥25.46 billion, up 2.36% year-over-year; main business income: ¥23.73 billion, up 7.14%.

• Net profit: ¥834 million, down 19.56% year-over-year; adjusted net profit (excluding non-recurring): ¥641.59 million, down 24.29%.

• Basic and diluted EPS: ¥0.639, down 19.62% year-over-year.

• Gross margin: 15.7% (calculated from disclosed data).

• Net assets attributable to shareholders: ¥18.17 billion, down 3.84% from year-end 2023.

• Total assets: ¥41.62 billion, down 7.73% from year-end 2023.

Outlook and guidance

• Company expects continued global TV shipment growth from 2025 to 2027.

• Focus remains on high-end, large-screen, and AI-driven products to drive future growth.

• Ongoing digital transformation and global expansion to support long-term competitiveness.