（图片来源：网络） 出品｜搜狐财经 作者｜李保铭 3月27日夜间，创维集团发布最新的2024年报，营收、公司股权持有人应占溢利双跌。 | | 智能家雷业务 (百万人民币) | 智能系統技術業務 | 新能源業務 | 現代版社主主社 及其他 | | | --- | --- | --- | --- | --- | --- | | 2024 | ~33,469 | 1>8,511 | 20,334 | 2,861 | 65,175 | | 2023 | 30,637 | 10,413 | 23,396 | 4,734 | 69,180 | | 同比 | 9.24% | -18.27% | -13.09% | -39.56% | -5.79% | 财报显示，2024年，创维集团总营业额为650.13亿元，同比下滑5.8%；公司股权持有人应占溢利为5.68亿元，同比下滑46.9%。 从三费情况来看，创维集团2024年销售及分销费用为37.49亿元，同比增长8.6%，一般及行政费用为18.07亿元，同比下滑5.93%，研发费用为20.86亿元，同 比下滑1.93%。 其中， 智能家电业务占大陆市场营业额的43.7%、智能系 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 65,013 million, a decrease of 5.8% compared to RMB 69,031 million in 2023[4] - Gross profit for the same period was RMB 8,808 million, down 6.3% from RMB 9,402 million in the previous year[4] - Net profit attributable to equity holders of the company decreased by 46.9% to RMB 568 million from RMB 1,069 million in 2023[4] - The company's profit before tax decreased to RMB 1,738 million in 2024 from RMB 2,323 million in 2023, representing a decline of approximately 25.1%[9] - The group's profit for the year was RMB 1,160 million, representing a decline of 34.3% year-on-year, with an overall gross margin of 13.5%, down by 0.1 percentage points[50] Dividends - The company did not recommend the distribution of a final dividend for the year ended December 31, 2024, compared to a final dividend of 5 HK cents per share in 2023[4] - The company did not declare any interim dividends for the year ending December 31, 2024, compared to a final dividend of HKD 0.05 per share totaling approximately RMB 111 million for 2023[8][36] - The board of directors does not recommend a final dividend for the reporting year to retain cash for the company's development and corporate planning[103] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 49,722 million, an increase from RMB 46,677 million in 2023[7] - Current liabilities increased to RMB 37,334 million in 2024 from RMB 35,428 million in 2023[8] - The company's cash and cash equivalents decreased to RMB 8,348 million from RMB 9,114 million in the previous year[7] - The net asset value of the company increased to RMB 23,138 million in 2024 from RMB 22,757 million in 2023[8] - Trade receivables and notes receivable increased to RMB 13,334 million in 2024 from RMB 11,467 million in 2023, representing a growth of 16.3%[40] - The total receivables balance as of December 31, 2024, is RMB 19,588 million, up from RMB 17,580 million in 2023, indicating an increase of 11.4%[40] - The company's trade payables increased to RMB 12,883 million in 2024 from RMB 11,531 million in 2023, marking a rise of 11.7%[45] - The debt-to-equity ratio rose to 70.5% as of December 31, 2024, compared to 67.3% in the previous year[82] Revenue Breakdown - Total revenue for the year ending December 31, 2024, reached RMB 65,013 million, with a breakdown of RMB 33,407 million from smart appliances, RMB 8,495 million from smart systems, and RMB 20,270 million from new energy business[19] - The revenue from customer contracts for smart appliances was RMB 30,637 million, while smart systems generated RMB 10,383 million, and new energy business contributed RMB 23,396 million for the year ending December 31, 2023[20] - Revenue from mainland China accounted for RMB 49,251 million, down from RMB 53,677 million in 2023, indicating a decline of approximately 8.9%[28] - Revenue from overseas markets was RMB 15,762 million, accounting for 24.2% of the total revenue, an increase of RMB 408 million or 2.7% from RMB 15,354 million in the previous year[53] Research and Development - Research and development expenses for the year were RMB 2,086 million, slightly down from RMB 2,127 million in 2023[5] - The company is investing in research and development for new technologies in smart home systems and renewable energy solutions[23] - The company has made significant advancements in R&D, focusing on technologies such as AI quality chips and sound tracking algorithms, which have strengthened its market position in high-end TVs[58] Operational Efficiency - The company anticipates a continued focus on enhancing operational efficiency and exploring potential mergers and acquisitions to drive growth[23] - The company has optimized its operational strategies in response to market changes, including resource allocation and inventory structure adjustments[50] - The company has successfully expanded its online and offline sales channels, enhancing operational efficiency and user service levels through digital tools[59] Market Strategy - The company plans to expand its market presence in both domestic and international markets, focusing on smart appliances and new energy solutions[23] - The company is actively expanding its photovoltaic business into overseas markets, including Germany, Italy, and Thailand, positioning itself as a leader in sustainable development[72] - The company is focusing on optimizing global resource allocation and deepening international cooperation to accelerate its overseas business expansion, with a strategy to establish localized teams in different countries[94] Employee and Corporate Governance - The company emphasizes employee welfare and training, implementing performance-based compensation policies and long-term incentive plans to motivate and reward outstanding employees[90] - The company has maintained compliance with corporate governance codes and standards throughout the reporting year[96][97] - The company’s audit committee has reviewed the accounting standards and practices adopted by the group and discussed financial reporting matters for the reporting year[99]

证券时报记者 吴瞬 深圳作为全球重要的科技中心，不仅汇聚了华为、大疆等新兴消费电子品牌，还拥有着创维集团等众多 国民品牌企业。在创维集团位于深圳石岩的创维工业园的一栋大楼上，一幅巨大蓝底白字的广告语 ——"创维4亿人都在用"见证着这一老牌家电龙头企业在过去数十年的荣光。 作为一家老牌的港股上市公司，成立于1988年，历经36年风雨的创维集团早已横跨多个业务领域。过去 5年，创维集团营业额保持连续增长，达1.85倍；其中，2023年创维集团营业额逼近700亿元，较上年同 期增长29%，创维已经从单一的彩电品牌，发展为集智能家电、智能系统技术、新能源、现代服务四大 业务板块为一体的全品类科技集团。 国民品牌崛起 智能化改造的益处显而易见。吴伟表示，"首先是单班产量提高，以32英寸电视为例，我们原来单班产 量一天生产1500台，现在一天能生产3000台，效率翻了一倍，制造加工成本也从每台30元降到了每台16 元。其次是产品交付期通过改造以后缩短4—7天，周转率也大大提高。" 更为关键的是，信息化的建设令创维工厂的"转线"（从一个产品生产切换到另一个产品生产）时间大大 缩短，从以前需要几个小时到现在只需要20分钟左右 ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 30,153 million, a decrease of 6.7% compared to RMB 32,300 million for the same period in 2023[5]. - Profit for the period increased to RMB 714 million, up 15.9% from RMB 616 million in the prior year[5]. - Gross profit margin improved to 14.2%, compared to 13.0% in the same period last year[5]. - Earnings per share (basic and diluted) rose to 16.31 RMB cents, compared to 11.95 RMB cents in the previous year[5]. - Market capitalization decreased by 16.4% to HK$ 7,192 million from HK$ 8,599 million year-over-year[7]. - For the six months ended June 30, 2024, the overall revenue amounted to RMB 30,153 million, representing a decrease of RMB 2,147 million or 6.6% compared to RMB 32,300 million for the same period of the previous year[13]. - The net profit for the current period was RMB 714 million, demonstrating an increase of RMB 98 million or 15.9% compared to RMB 616 million for the same period of the previous year[13]. - The gross profit margin for the current period was 14.2%, representing an increase of 1.2 percentage points compared to 13.0% for the same period of the previous year[13]. - The Group recorded a revenue of RMB 9,015 million from the new energy business for the six months ended 30 June 2024, representing a decrease of RMB 3,119 million or 25.7% compared to RMB 12,134 million in the same period of the previous year[31]. - The company reported a total comprehensive income for the period of RMB 408 million, down from RMB 771 million in the same period of 2023[67]. Cash Flow and Liquidity - The company's cash position decreased to RMB 12,252 million from RMB 13,404 million, reflecting a decline of 8.6%[5]. - Cash and cash equivalents as of June 30, 2024, were RMB 8,678 million, indicating a strong liquidity position[69]. - The net cash used in operating activities for the six months ended June 30, 2024, was RMB (2,558) million, compared to RMB (418) million for the same period in 2023[77]. - The company incurred a net cash outflow from investing activities of RMB (807) million for the six months ended June 30, 2024[77]. - New borrowings raised during the period amounted to RMB 10,615 million, while repayments of borrowings were RMB (6,611) million[77]. Debt and Equity - Total borrowings increased to RMB 18,957 million, up from RMB 17,306 million, indicating a rise of 9.5%[5]. - The debt to equity ratio rose to 84.2%, compared to 78.5% in the previous year, indicating increased leverage[5]. - The equity attributable to owners of the Company was RMB 17,867 million as of June 30, 2024, down from RMB 18,139 million as of December 31, 2023[46]. - The debt to equity ratio increased to 84.2% as of June 30, 2024, compared to 67.3% as of December 31, 2023[46]. - The Group's bank loans and total interest-bearing liabilities amounted to RMB 18,957 million as of June 30, 2024, an increase from RMB 15,315 million as of December 31, 2023[48]. Operational Performance - The smart household appliances business recorded revenue of RMB 15,600 million, representing an increase of RMB 1,436 million or 10.1% compared to RMB 14,164 million for the same period of the previous year[19]. - Revenue from overseas markets amounted to RMB 7,520 million, accounting for 24.9% of the Group's overall revenue, an increase of RMB 312 million or 4.3% from RMB 7,208 million for the same period of the previous year[15]. - The smart household appliances business accounted for 43.8% of revenue from the mainland China market, up from 36.5% in the same period of the previous year[15]. - The new energy business accounted for 39.7% of revenue from the mainland China market, down from 48.2% in the same period of the previous year[15]. - The Group's smart systems technology business accounted for 11.5% of revenue from the mainland China market, down from 12.2% in the same period of the previous year[15]. Market and Strategic Focus - The company continues to focus on industrial transformation and innovative development in response to market uncertainties and weak consumer demand[13]. - The company is promoting the green development of the Double Carbon strategy, facilitating the innovative and sustainable development of the global ultra-high-definition video industry[13]. - The ongoing geopolitical tensions and economic pressures are impacting overall market sentiment and consumer demand[13]. - The company is closely monitoring the latest market developments and focusing on digital innovation in smart household appliances[13]. - The Group successfully expanded its business in European and African markets, leveraging its intelligent and user-friendly appliance designs during global sports events[15]. Research and Development - Research and development expenses totaled RMB 981 million, a decrease of RMB 29 million or 2.9% compared to RMB 1,010 million in the previous year, with a ratio of 3.3%, up 0.2 percentage points from 3.1%[41]. - The Group developed various new technologies, including ultra-multi-zone Mini LED display systems and red-light eye protection quantum films, to enhance product competitiveness[21]. - The Group is focusing on building a smart-home platform to create a new ecosystem for its smart human habitat business[52]. Employee and Corporate Governance - As of June 30, 2024, the Group had approximately 28,200 employees, a decrease from 31,200 employees as of December 31, 2023, with over 90% located in various provinces and cities in China[54]. - The Group's remuneration policy is based on individual performance, functions, and market conditions, emphasizing employee benefits and development[54]. Investments and Fair Value - The Group held investments in 67 unlisted companies with a total fair value of RMB 3,157 million as of June 30, 2024[47]. - The fair value of equity instruments at FVTOCI increased to RMB 3,035 million on June 30, 2024, compared to RMB 2,953 million on December 31, 2023, with Level 1 assets valued at RMB 392 million and Level 3 assets at RMB 2,637 million[167][170]. - The total fair value loss on investments in equity instruments at FVTOCI was RMB 295 million for the period ending June 30, 2024[186].

Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 30,153 million, a decrease of 6.6% compared to RMB 32,300 million in the same period of 2023[2] - Gross profit increased by 2.2% to RMB 4,289 million from RMB 4,198 million year-on-year[2] - Net profit for the period rose by 15.9% to RMB 714 million, up from RMB 616 million in the previous year[2] - Profit attributable to equity holders increased by 27.2% to RMB 384 million compared to RMB 302 million in the same period last year[4] - The overall profit before tax for the group was RMB 969 million for the six months ended June 30, 2024, compared to RMB 821 million for the same period in 2023, indicating an increase of approximately 18%[20] - The income tax expense for the six months ended June 30, 2024, was RMB 255 million, up from RMB 205 million for the same period in 2023, representing an increase of approximately 24.4%[20] - The company’s profit for the six months ended June 30, 2024, was RMB 25,489 million, a decrease of 5.4% compared to RMB 27,982 million for the same period in 2023[22] Revenue Breakdown - The smart home appliance segment generated RMB 15,575 million in revenue, compared to RMB 14,145 million in the previous year, indicating a growth of about 10.1%[11][12] - The smart system technology business generated RMB 4,327 million, down from RMB 5,108 million, reflecting a decrease of about 15.3%[11][12] - The renewable energy business reported revenue of RMB 8,984 million, a decrease from RMB 12,122 million, indicating a decline of approximately 26.5%[11][12] - For the six months ended June 30, 2024, the total revenue from the smart home appliance business was RMB 15,728 million, representing an increase from RMB 14,599 million for the same period in 2023[18] - The smart system technology business generated revenue of RMB 4,395 million for the six months ended June 30, 2024, compared to RMB 5,210 million in the previous year, indicating a decline[18] - The renewable energy business reported revenue of RMB 8,984 million for the six months ended June 30, 2024, consistent with RMB 12,133 million for the same period in 2023, showing a decrease[18] Dividends and Shareholder Returns - The company did not declare an interim dividend for the period, compared to 3 HK cents per share in the previous year[2] - The company declared a final dividend of RMB 111 million for the year ending December 31, 2023, with no dividend declared for the previous year[23] - The company decided not to declare an interim dividend for the period, which previously was HKD 0.03 per share for the six months ended June 30, 2023[72] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 48,631 million, an increase from RMB 46,677 million as of December 31, 2023[5] - Cash and cash equivalents decreased to RMB 8,678 million from RMB 9,114 million at the end of 2023[5] - The company reported a net asset value of RMB 22,516 million as of June 30, 2024, down from RMB 22,757 million at the end of 2023, reflecting a decrease of approximately 1.1%[6] - Non-current liabilities totaled RMB 9,945 million, an increase from RMB 8,976 million in December 2023, marking a rise of about 10.8%[6] - Bank borrowings increased to RMB 11,170 million from RMB 8,218 million, representing a significant rise of approximately 36.5%[6] - Deferred income rose to RMB 528 million from RMB 395 million, indicating an increase of about 33.7%[6] - The company’s equity attributable to shareholders decreased to RMB 17,867 million from RMB 18,139 million, a decline of approximately 1.5%[6] - Trade payables as of June 30, 2024, totaled RMB 11,789 million, an increase from RMB 11,531 million as of December 31, 2023[33] - The total liabilities decreased to RMB 26,361 million as of June 30, 2024, from RMB 27,585 million as of December 31, 2023[33] Market Performance and Strategy - The company anticipates that the peak sales season for consumer electronics in mainland China will occur from September to January, which may impact future performance[7] - The company remains cautiously optimistic about the market outlook despite global economic and geopolitical challenges affecting trade supply chains[66] - The company plans to establish a group supply chain coordination team and a technology development leadership team in the first half of 2024 to enhance product development with a focus on "5G + AI + terminals"[66] - The company is actively embracing AI applications and increasing R&D in AI and AIGC-related functionalities to enhance product competitiveness[66] - The company aims to integrate power generation, grid, load, and energy storage technologies under its "source-network-load-storage integration" strategy to promote green low-carbon ecological parks[66] - The company has expanded from the television sector into smart home appliances and new energy, aligning with carbon neutrality goals[66] Research and Development - Research and development expenses decreased slightly to RMB 981 million from RMB 1,010 million in the previous year[3] - The company continues to invest in R&D for smart products, with strong sales performance in core products like washing machines and air conditioners driving growth[46] - The company aims to enhance its competitive edge and product advantages through continuous investment in research and development of high-quality intelligent products[55] Employee and Operational Metrics - The total number of employees decreased to approximately 28,200 as of June 30, 2024, from 31,200 on December 31, 2023[64] - The company’s total employee costs for the six months ended June 30, 2024, were RMB 2,503 million, slightly down from RMB 2,523 million in the same period of 2023[22] Investments and Capital Expenditure - The company invested a total of RMB 359 million in expanding factories and major construction projects in Ningbo, Wuhan, Shenzhen, Guangzhou, and Huizhou during the reporting period[63] - An additional RMB 342 million was invested in acquiring other properties, factories, and equipment to enhance production capacity and operational efficiency[63] - The company holds investments in 67 unlisted companies valued at RMB 3,157 million as of June 30, 2024, including a 10% stake in a company involved in manufacturing and selling flat panel displays[59]

Financial Performance - The annual operating income reached a record high of RMB 69.031 billion, representing a year-on-year growth of 29.1%[8]. - The net profit for the year was RMB 1.766 billion, with a year-on-year growth of 25.5%[8]. - Profit attributable to the owners of the Company increased by 29.3% year-on-year[8]. - The overall revenue for the year ended December 31, 2023, was RMB 69,031 million, representing a 29.1% increase from RMB 53,491 million in the previous year[34][36]. - The overall gross profit margin for the reporting year was 14.0%, a decrease of 1.3 percentage points compared to the previous year[36][38]. - The company aims to achieve "rapid growth with higher quality" and has set new challenging annual goals for 2024[30][31]. - The modern services business recorded a revenue of RMB 4,734 million for the year ended December 31, 2023, representing an increase of RMB 2,635 million or 125.5% compared to RMB 2,099 million in the previous year[80]. - The Group's financial performance for the Reporting Year is detailed in the consolidated statement of profit or loss and other comprehensive income[185]. Business Segments Performance - The smart household appliances segment maintained stable growth despite market challenges, with significant performance across various business lines[11]. - The TV business achieved sales of over 150,000 units for the new generation Wallpaper TV[12]. - The refrigerator and washing machine business surpassed sales of 4.5 million units, generating revenue exceeding RMB 4.5 billion[12]. - The air conditioner business achieved breakeven for the first time[12]. - The personal care household appliances business sold nearly 5.5 million units of Yuan Shi Shaver, demonstrating strong online sales performance[12]. - The Group's smart household appliances business recorded revenue of RMB30,637 million, representing an increase of RMB3,045 million or 11.0% compared to RMB27,592 million recorded in the Previous Year[45]. - Revenue from the smart appliances business reached RMB 7,088 million, representing an increase of RMB 2,687 million or 61.1% compared to RMB 4,401 million in the previous year[57]. - The new energy segment nearly doubled its residential photovoltaic business growth, ranking among the top three in the industry[17][19]. Market and Strategic Focus - The company aims to navigate the complex market environment in 2024, addressing pressures in demand growth within the household appliances industry and intensified competition in the photovoltaic sector[23][24]. - The Group is committed to promoting digital innovation in smart home appliances and leveraging the new energy industry to achieve carbon peak and carbon neutrality goals[35][36]. - The company plans to focus on partnership mechanisms, mutual empowerment among operations, and improving human efficiency to strengthen its market position[26][27]. - The Group aims to explore new scenarios and applications for smart homes and smart offices, leveraging advancements in AI and digital technology[70]. - The Group's strategy includes industry chain integration and enhancing intelligent manufacturing capabilities to respond to market changes[67]. Revenue Distribution - For the year ended 31 December 2023, revenue from the mainland China market amounted to RMB53,826 million, representing an increase of RMB17,163 million or 46.8% compared to RMB36,663 million for the Previous Year[40]. - Revenue from overseas markets amounted to RMB15,354 million, equivalent to 22.2% of the Group's overall revenue, representing a decrease of RMB1,573 million or 9.3% compared to RMB16,927 million recorded in the Previous Year[40]. - The geographical distribution of revenue in overseas markets for 2023 shows Asia at 57%, Europe at 17%, Americas at 14%, Africa at 11%, and Oceania at 1%[41]. Cost Management and Efficiency - The company emphasizes the importance of enhancing production efficiency and reducing corporate costs to navigate market uncertainties[35]. - Selling and distribution expenses amounted to RMB3,695 million, an increase of RMB256 million or 7.4% compared to RMB3,439 million in the previous year, with a selling and distribution expenses to revenue ratio of 5.4%, down 1.0 percentage point from 6.4%[93][96]. - General and administrative expenses were RMB1,921 million, an increase of RMB267 million or 16.1% from RMB1,654 million in the previous year, with a ratio of 2.8%, down 0.3 percentage points from 3.1%[93][96]. - Research and development expenses totaled RMB2,127 million, a slight increase of RMB11 million or 0.5% from RMB2,116 million in the previous year, with a ratio of 3.1%, down 0.9 percentage points from 4.0%[94][96]. Innovation and Product Development - The AI intelligent somatosensory game console was recognized as the "Best Invention of 2023" by TIME Magazine, showcasing the company's innovation in technology[18]. - The Group launched several new products in 2023, including the all-in-one Mini LED TV Series G7D/A5D and the OLED gaming monitor G80Q, focusing on enhancing product value and user experience[50]. - The Group launched the 100-inch Giant Screen TV Series in 2023, establishing leadership in the ultra-large screen market[52]. - The Group has developed a high-quality residential building integrated photovoltaic (BIPV) power station product, launching the flagship product "Xiao Yang Lou"[74]. Corporate Governance and Management - The Group held investments in 64 unlisted companies, with a total fair value of RMB3,299 million as of December 31, 2023[101]. - The Group's principal activities include the manufacture and sales of smart TV systems, home access systems, photovoltaic products, and intelligent manufacturing[184]. - The Board has proposed a final dividend of 5 HK cents per share for the Reporting Year, totaling approximately RMB 108 million[185]. - The Group has established a Corporate Social Responsibility Policy focusing on four key aspects: Workplace, Environment, Operating Practices, and Community[188]. Employee and Community Engagement - The Group promotes team spirit and offers various training programs to enhance employee skills and awareness of environmental issues[195]. - As of December 31, 2023, the Group had approximately 31,200 employees, a slight decrease from 31,400 employees in 2022, with over 90% located in various provinces and cities in China[112][114].

Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 69,031 million, representing a 29.1% increase from RMB 53,491 million in 2022[2] - Gross profit for the same period was RMB 9,645 million, up 17.5% from RMB 8,207 million in the previous year[2] - Net profit attributable to equity holders for the year was RMB 1,766 million, a 25.5% increase compared to RMB 1,407 million in 2022[2] - The company's operating profit before tax for 2023 was RMB 2,323 million, an increase of 28% compared to RMB 1,819 million in 2022[7] - The total operating profit for the group was RMB 3,043 million, up from RMB 2,243 million, marking an increase of approximately 35.7%[25] - The company reported a basic earnings per share of RMB 43.15, compared to RMB 31.97 in the previous year[4] - The group reported a tax expense of RMB 557 million for 2023, compared to RMB 412 million in 2022, marking a 35.2% increase[29] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 0.05 per share, compared to no final dividend in 2022[2] - The board proposed a final cash dividend of HKD 0.05 per share for the year ending December 31, 2023, totaling approximately RMB 108 million, subject to shareholder approval at the upcoming annual general meeting[35] - The company repurchased a total of 182,398,000 shares at a total cost of approximately HKD 752.42 million, enhancing earnings per share and overall shareholder returns[87] - A conditional cash offer was made to repurchase up to 100,000,000 shares at HKD 5.00 per share, with a total consideration of HKD 500 million, funded from internal resources[88] Revenue Breakdown - The total revenue from customer contracts for the year ended December 31, 2023, was RMB 68,525 million, with significant contributions from smart home appliances (RMB 30,637 million) and new energy business (RMB 23,396 million) [18] - Revenue from smart home appliances increased by 45% compared to the previous year, while the new energy business saw a 56% increase [18] - Revenue from mainland China was RMB 53,677 million, up 46.9% from RMB 36,564 million in 2022[28] - The smart home appliance segment generated revenue of RMB 31,382 million, up from RMB 28,046 million, indicating a year-over-year increase of about 8.0%[24] - The new energy business reported revenue of RMB 23,340 million, a significant rise from RMB 11,934 million, reflecting an increase of approximately 95.5%[24] - The modern services and other segments generated revenue of RMB 5,480 million, up from RMB 3,165 million, reflecting an increase of approximately 73.1%[24] Expenses and Costs - Research and development expenses for the year were RMB 2,127 million, slightly up from RMB 2,116 million in 2022[3] - Employee costs rose to RMB 5,296 million in 2023 from RMB 4,869 million in 2022, an increase of 8.8%[34] - General and administrative expenses for the same period were RMB 1,921 million, up RMB 267 million or 16.1% year-on-year, with a ratio of 2.8%, down from 3.1%[71] - The company's financing costs increased to RMB 522 million in 2023 from RMB 432 million in 2022, an increase of 21%[7] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 46,677 million, compared to RMB 46,426 million in 2022[5] - Current liabilities amounted to RMB 35,428 million, a slight decrease from RMB 35,527 million in the previous year[6] - The equity attributable to equity holders of the company was RMB 18,139 million, up from RMB 17,867 million in 2022[6] - The total bank loans and overall interest-bearing liabilities amounted to RMB 15,315 million, slightly up from RMB 15,257 million in the previous year, with a debt-to-equity ratio of 67.3%, down from 69.7%[72] Cash Flow and Investments - The net cash generated from operating activities decreased to RMB 2,476 million in 2023 from RMB 5,148 million in 2022, representing a decline of 52%[7] - The company’s cash flow from investing activities showed a net outflow of RMB 352 million in 2023, a significant improvement from a net outflow of RMB 5,051 million in 2022[8] - The net cash and cash equivalents as of December 31, 2023, were RMB 9,114 million, an increase of RMB 60 million or 0.7% from the previous year[72] - The group held investments in 64 unlisted companies valued at RMB 3,299 million as of December 31, 2023, including a 10% stake in a company involved in manufacturing and selling electronic components[74] Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new product development to drive future growth[39] - The company aims to leverage its strengths in manufacturing and technology to become a key player in China's economic development, particularly in smart manufacturing and digital economy sectors[79] - The company is actively expanding its renewable energy business, particularly in the photovoltaic sector, and aims to maximize the efficiency of solar power stations[81] - The company is pursuing a diversified green low-carbon development strategy while enhancing its brand value and competitiveness[81] Compliance and Governance - The company has maintained compliance with corporate governance codes, although there was an exception regarding the attendance of independent non-executive directors at shareholder meetings[83] - The company confirmed compliance with the code of conduct for securities trading by all directors during the reporting year[86] - The audited full-year results announcement will be published on the company's and the Hong Kong Stock Exchange's websites[92]

Revenue and Profitability - Revenue for the six months ended June 30, 2023, was RMB 32,300 million, an increase from RMB 24,284 million in the same period of 2022, representing a growth of 33.1%[5]. - Profit for the period attributable to owners of the Company was RMB 616 million, compared to RMB 631 million in the same period of 2022, reflecting a decrease of 2.4%[5]. - Total comprehensive income for the period reached RMB 771 million, a significant increase from RMB 270 million in the same period last year, representing a growth of 186.67%[66]. - Profit for the period attributable to owners of the company was RMB 302 million, compared to RMB 339 million in the previous year, indicating a decrease of 10.91%[66]. - Basic and diluted earnings per share were both RMB 11.95, down from RMB 12.98 in the same period last year, reflecting a decline of 7.94%[66]. Gross Profit and Margins - Gross profit margin decreased to 13.0% from 16.0% year-on-year[5]. - The overall gross profit margin for the Group was 13.0%, a decrease of 3.0 percentage points from 16.0% in the same period last year[39]. - EBIT margin decreased to 3.4% from 4.4% year-on-year[5]. Cash Flow and Financial Position - Net cash from operating activities was RMB 656 million, down from RMB 2,049 million in the same period of 2022[5]. - Bank balances and cash increased to RMB 10,412 million, representing a rise of RMB 1,358 million or 15.0% from RMB 9,054 million as of December 31, 2022[43]. - Total current liabilities as of June 30, 2023, are RMB 28,485 million, compared to RMB 25,637 million as of December 31, 2022[140]. - The debt to owners' equity ratio was 78.5% as of June 30, 2023, up from 69.7% as of December 31, 2022[43]. Market Performance and Segmentation - Revenue from the mainland China market for the six months ended June 30, 2023, was approximately RMB 25,143 million, an increase of RMB 8,986 million or 55.6% compared to RMB 16,157 million for the same period last year[15]. - Revenue from overseas markets amounted to RMB 7,208 million, accounting for 22.3% of the Group's overall revenue, representing a decrease of RMB 966 million or 11.8% from RMB 8,174 million for the same period last year[15]. - The smart household appliances business accounted for 36.5% of revenue from the mainland China market, while the new energy business contributed 48.2%[15]. New Energy Business - For the six months ended June 30, 2023, the new energy business recorded revenue of RMB 12,134 million, representing a significant increase of RMB 7,924 million or 188.2% compared to RMB 4,210 million in the same period of the previous year[31]. - More than 130,000 new residential photovoltaic power stations were put into operation and connected to the power grid during the current period, with a total of over 339,000 residential photovoltaic power stations built and operational[31]. - The newly installed photovoltaic capacity in China for the first half of 2023 was approximately 78.42 GW, a year-on-year increase of approximately 154%[34]. Research and Development - Research and development expenses for the six months ended June 30, 2023, were RMB 1,010 million, an increase of RMB 9 million or 0.9% compared to RMB 1,001 million for the same period last year[41]. - The research and development expenses to revenue ratio was 3.1%, down by 1.0 percentage points from 4.1% in the same period last year[41]. - The Group aims to enhance product competitiveness and drive sales growth through increased research and development efforts in smart products[27]. Strategic Focus and Future Outlook - The Group is focusing on industrial transformation and innovative development, particularly in smart home appliances and achieving carbon neutrality goals[13]. - The Group's strategic plan aims to maintain positive growth despite uncertainties in the global economy[13]. - The Group plans to continue expanding its channels and markets, including opening new stores and revitalizing old ones[25]. Expenses and Cost Management - Selling and distribution expenses for the six months ended June 30, 2023, were RMB 1,816 million, an increase of RMB 212 million or 13.2% compared to RMB 1,604 million for the same period last year[41]. - General and administrative expenses amounted to RMB 857 million, representing an increase of RMB 161 million or 23.1% compared to RMB 696 million for the same period last year[41]. - The Group's operational focus includes enhancing product gross margins and reducing operational costs amid rising raw material costs[42]. Employee and Organizational Changes - The Group's employee count decreased to approximately 29,700 as of June 30, 2023, down from 31,400 at the end of 2022[53]. - The Group is dedicated to enhancing employee training and establishing a long-term mechanism for cultivating industry leaders to improve professional standards[55]. Investments and Financial Instruments - The Group held investments in 62 unlisted companies with a total fair value of RMB 3,425 million as of June 30, 2023[45]. - The Group's portfolio of listed equity investments is primarily for medium to long-term investment, with a focus on industries supported by the Chinese government[51]. - The Group's financial assets and liabilities are measured at fair value on a recurring basis, categorized into three levels based on the observability of inputs[166].

Financial Performance - Total revenue for the six months ended June 30, 2023, was RMB 32,300 million, representing a 33.0% increase compared to RMB 24,284 million for the same period in 2022[3] - Gross profit for the same period was RMB 4,198 million, an increase of 8.2% from RMB 3,879 million in the previous year[3] - Profit attributable to equity holders for the period was RMB 302 million, down 10.9% from RMB 339 million in the prior year[3] - The total comprehensive income for the period was RMB 771 million, compared to RMB 270 million for the same period last year[6] - The group's profit before tax for the six months ended June 30, 2023, was RMB 821 million, compared to RMB 829 million for the same period in 2022, showing a slight decrease of about 1.0%[21] - The income tax expense for the six months ended June 30, 2023, was RMB 205 million, compared to RMB 198 million in the same period of 2022, representing an increase of approximately 3.5%[21] - The group reported a total segment profit of RMB 1,042 million for the six months ended June 30, 2023, compared to RMB 1,191 million in the same period of 2022, indicating a decrease of about 12.5%[19] Revenue Breakdown - The smart home appliance business generated revenue of RMB 14,145 million, while the smart system technology business contributed RMB 5,108 million, and the new energy business accounted for RMB 12,122 million[13] - For the six months ended June 30, 2023, the total revenue from the smart home appliance business was RMB 14,599 million, an increase from RMB 13,052 million in the same period of 2022, representing a growth of approximately 11.9%[19] - The smart system technology business generated revenue of RMB 5,210 million, up from RMB 6,239 million in the previous year, indicating a decline of about 16.4%[19] - The new energy business reported revenue of RMB 12,133 million, compared to RMB 4,206 million in the same period last year, reflecting a significant increase of approximately 187.5%[19] - Revenue from customer contracts was RMB 32,057 million, which includes sales of goods and services[13] - Revenue from the mainland China market reached approximately RMB 25,143 million, an increase of RMB 8,986 million or 55.6% from RMB 16,157 million year-on-year, primarily driven by the strong performance of the new energy business[40] - The overseas market revenue was RMB 7,208 million, accounting for 22.3% of total revenue, a decrease of RMB 966 million or 11.8% from RMB 8,174 million year-on-year[41] Assets and Liabilities - Non-current assets as of June 30, 2023, amounted to RMB 19,262 million, an increase from RMB 17,984 million as of December 31, 2022[7] - Current assets totaled RMB 50,939 million, up from RMB 46,426 million at the end of 2022[7] - Cash and cash equivalents were RMB 10,412 million, compared to RMB 9,054 million at the end of the previous year[7] - The company's net assets as of June 30, 2023, were RMB 22,057 million, an increase from RMB 21,894 million as of December 31, 2022[8] - Bank borrowings increased to RMB 10,526 million as of June 30, 2023, up from RMB 9,404 million at the end of 2022, indicating a rise of approximately 11.9%[8] - The company reported a total current liability of RMB 39,620 million, compared to RMB 35,527 million at the end of 2022, reflecting an increase of about 11.8%[8] - The company’s total assets minus current liabilities stood at RMB 30,581 million, up from RMB 28,883 million, marking an increase of about 5.9%[8] Dividends and Share Buybacks - The company declared an interim dividend of HKD 0.03 per share, consistent with the previous year[3] - The board's decision on dividend payments will consider factors such as distributable profits, cash flow, and financial condition[3] - The company has proposed an interim dividend of HKD 0.03 per share, totaling approximately RMB 68 million, to be paid on September 22, 2023[71] - The company completed a share buyback of 100 million shares, representing about 3.87% of the issued shares, at a price of HKD 5.0 per share, totaling HKD 500 million[70] Market Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[9] - The group continues to focus on expanding its smart home appliance and new energy businesses, leveraging growth opportunities in both domestic and international markets[17] - The company is actively adjusting marketing strategies to mitigate the negative impacts of economic downturns on its overseas business[41] - The group aims to expand its market presence by enhancing online sales channels and optimizing traditional offline distribution, despite challenges in the home appliance market[48] - The group is actively pursuing new markets and customers in Europe, Australia, and Latin America to counteract economic challenges and improve product structure[51] - The company aims to maintain market leadership by developing new high-margin and high-value products, while seizing opportunities in the global digitalization, intelligence, and low-carbon trends[64] Research and Development - Research and development expenses for the six months ended June 30, 2023, were RMB 1,010 million, an increase of RMB 9 million or 0.9% from RMB 1,001 million in the same period last year[57] - The company will continue to develop products based on the "5G + AI + terminal" technology development strategy, focusing on new technologies, materials, and processes to enhance product competitiveness and innovation capabilities[64] - The group continues to invest in technological innovation and research and development to maintain high product quality standards in the photovoltaic sector[52] Corporate Governance and Management - The company has maintained high standards of corporate governance and transparency, complying with the corporate governance code[67] - The board consists of five executive directors and three independent non-executive directors[74] - The chairman of the board is Lin Jin, with Liu Tangzhi as vice chairman and Shi Zhi as CEO[74] - The management team is dedicated to achieving the group's objectives and long-term growth[74] - The board's leadership structure is designed to ensure effective governance and oversight[74] Employee and Operational Insights - The group employed approximately 29,700 staff as of June 30, 2023, a decrease from 31,400 employees at the end of 2022, with over 90% based in mainland China[63] - The group emphasizes employee training and welfare, implementing performance-based compensation policies and long-term incentive plans[63] Miscellaneous - The group reported a net foreign exchange gain of RMB 147 million for the six months ended June 30, 2023, compared to a loss of RMB 34 million for the same period in 2022[59] - The announcement date is August 25, 2023, indicating the company's recent financial performance[74] - The board expresses gratitude to shareholders and business partners for their ongoing support and acknowledges the contributions of management and staff during the period[74]

Financial Performance - Operating revenue for the year ended 2022 was RMB 53,491 million, an increase from RMB 50,928 million in 2021, representing a growth of 4.1%[5] - The net profit attributable to equity holders of the company decreased to RMB 827 million from RMB 1,634 million in 2021, a decline of 49.3%[5] - Cash generated from operating activities increased significantly to RMB 5,148 million, up 313.8% from RMB 1,244 million in the previous year[5] - The gross profit margin decreased to 15.3%, down 1.5 percentage points from 16.8% in 2021[5] - The overall revenue for the fiscal year ending December 31, 2022, was RMB 53,491 million, representing a 5.0% increase from RMB 50,928 million in the previous year[15] - Revenue from the mainland China market reached RMB 36,564 million, an increase of RMB 3,344 million or 10.1% compared to RMB 33,220 million in the previous year[18] - Revenue from overseas markets was RMB 16,927 million, accounting for 31.6% of total revenue, which is a decrease of RMB 781 million or 4.4% from RMB 17,708 million in the previous year[19] - The multimedia business recorded revenue of RMB 23,080 million for the year ended December 31, 2022, a decrease of RMB 4,290 million or 15.7% compared to the previous year[23] - Revenue from smart TV system products in the Chinese market was RMB 9,891 million, down RMB 3,058 million or 23.6% year-on-year[23] - The smart appliance business recorded revenue of RMB 4,393 million, a slight increase of RMB 18 million or 0.4% from the previous year[35] Business Development and Strategy - The company launched the new Q53 PRO series wallpaper TV, enhancing product competitiveness in the television segment[7] - The company aims to enhance its competitive edge by reforming its domestic offline marketing network and strengthening online sales capabilities[15] - The company plans to optimize its organizational structure and improve per capita efficiency by simplifying processes and reducing unnecessary management[15] - The company is committed to advancing its smart systems technology and new energy business in response to the global clean energy development trend and China's dual carbon strategy[15] - The company is focusing on high-end TV products and expanding its sales strategies to increase market share amid competitive pressures[24] - The company is actively exploring new retail channels and live streaming platforms to boost brand exposure and sales in overseas markets[26] - The company aims to strengthen its brand influence through product launches and promotional events in international markets[26] - The group aims to expand its photovoltaic business and explore strategic partnerships with upstream suppliers to enhance market competitiveness[34] - The group is focusing on technological innovation and product development in smart appliances, emphasizing health, energy efficiency, and intelligence[36] - The group is committed to optimizing its organizational structure and integrating new business expansions to create favorable conditions for future development[41] New Energy Business - The new energy business saw the installation of over 140,000 household photovoltaic power stations, with a cumulative total exceeding 200,000, positioning the company among the industry leaders[8] - The group's revenue from the new energy business reached RMB 11,934 million, an increase of RMB 7,833 million or 191.0% compared to the previous year[31] - The total installed capacity of distributed photovoltaic power stations exceeded 200,000 households, with over 140,000 new households connected to the grid during the year[31] - The group launched upgraded products that are more aesthetically pleasing and functional to meet diverse user needs in the distributed photovoltaic market[31] - The group is actively responding to the "dual carbon" goals through its photovoltaic business, focusing on technological innovation and sustainable practices[57] Financial Position and Investments - The debt-to-equity ratio improved to 69.7%, down 6.9 percentage points from 76.6% in the previous year[5] - The company’s market capitalization was HKD 8,660 million, down from HKD 14,562 million[5] - The company’s stockholders' equity attributable to the company was RMB 17,867 million, slightly down from RMB 18,045 million in 2021[5] - The group's total current assets as of December 31, 2022, were RMB 10,899 million, a decrease of RMB 2,826 million or 20.68% from December 31, 2021[45] - The group's total bank loans as of December 31, 2022, amounted to RMB 15,257 million, an increase from RMB 14,262 million as of December 31, 2021[46] - The group has invested in 52 unlisted companies with a total investment value of RMB 2,322 million as of December 31, 2022[48] - The group invested a total of RMB 1,402 million in expanding factories in Ningbo, Wuhan, Shenzhen, Guangzhou, and Qianhai, along with an additional RMB 836 million for acquiring properties, factories, and equipment[54] Corporate Governance and Management - The company emphasizes its commitment to corporate governance and investor relations, with Lin Chengcai overseeing these functions[68] - The company has been involved in various national and provincial research projects, enhancing its technological capabilities[65] - The executive team collectively brings extensive experience and educational backgrounds, contributing to the company's strategic direction and operational management[62][63][65][68] - The company has a strong focus on innovation, with Wu holding 13 authorized invention patents and participating in significant national projects[78] - The company is committed to maintaining high standards in corporate governance through its independent non-executive directors[71][75] - The board of directors includes members with diverse expertise, enhancing the company's strategic decision-making capabilities[78] - The company has established a shareholder communication policy to maintain effective dialogue with shareholders, which is regularly reviewed by the board[166] - The board consists of 8 members, including 5 executive directors and 3 independent non-executive directors, ensuring balanced and independent oversight of management practices[174] - The company has established a diversity policy, which is reviewed annually by the nomination committee to ensure independent perspectives are obtained[168] Shareholder and Stock Information - The company’s share option plan is valid for 10 years from the date of adoption, expiring on August 19, 2024[122] - The total number of stock options granted under the 2014 stock option plan was 283,100,239 shares at the beginning and end of the fiscal year[126] - The total number of stock options available for employees was 61,342,000, with 24,328,000 remaining unexercised as of December 31, 2022[125] - The total number of stock options available for directors was 32,000,000, with 10,000,000 remaining unexercised as of December 31, 2022[124] - The company did not cancel any stock options during the fiscal year[126] - The company repurchased a total of 107,232,000 shares at a total cost of approximately HKD 444.49 million during the reporting year[99] - The company has no existing management or administrative contracts related to its overall or any significant part of its business during the reporting year[109] - The company has purchased suitable liability insurance for its directors to provide protection against legal claims arising from the group's business[109] Compliance and Risk Management - The company adopted anti-fraud and anti-corruption policies in March 2022, which include guidelines on business ethics and mechanisms for reporting corruption[166] - The company has maintained compliance with the corporate governance code throughout the reporting year, ensuring transparency and accountability to shareholders[165] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed audit and financial reporting matters, including the financial statements for the year ended December 31, 2022[159] - The committee monitored the financial reporting system, risk management, and internal control systems of the group[198] - The financial risk management details are disclosed in the consolidated financial statements, highlighting the group's approach to managing financial risks[84]