Core Viewpoint - The stock of Skyworth Digital has experienced a decline of 16.22% year-to-date, with recent trading showing mixed performance, indicating potential volatility in the company's stock price [1]. Company Overview - Skyworth Digital Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on April 16, 2002, with its listing date on June 2, 1998 [2]. - The company specializes in the research, development, production, sales, and operation of digital smart terminals and front-end systems, with a revenue composition of 70.49% from smart terminals, 25.15% from professional displays, 4.22% from operation services, and 0.14% from other sources [2]. - Skyworth Digital is classified under the household appliances industry, specifically in the black household appliances sector, and is involved in various concept sectors including mobile gaming, virtual reality, and flexible electronics [2]. Financial Performance - For the period from January to September 2025, Skyworth Digital reported a revenue of 6.456 billion yuan, a year-on-year decrease of 2.45%, and a net profit attributable to shareholders of 85.8593 million yuan, down 63.69% year-on-year [2]. - The company has distributed a total of 1.338 billion yuan in dividends since its A-share listing, with 548 million yuan distributed over the past three years [3]. Shareholder Information - As of October 20, 2025, the number of shareholders for Skyworth Digital was 73,500, a decrease of 5.90% from the previous period, with an average of 15,110 circulating shares per shareholder, an increase of 6.27% [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 6.1663 million shares, a decrease of 1.1348 million shares from the previous period, while Xin'ao New Energy Industry Stock A is a new shareholder with 5.9245 million shares [3].

Core Viewpoint - Skyworth Group is focusing on long-term development by concentrating resources on core businesses, reducing related transactions, and avoiding competition within the industry [1] Transaction Details - Skyworth Digital, a wholly-owned subsidiary of Skyworth Group, plans to transfer 40% equity in Fengchi Electronics for 116 million RMB, corresponding to a registered capital of 4 million RMB [1] - Skyworth Group will inject 104 million RMB into Fengchi Electronics by contributing 100% equity of Shenzhen Anshida Technology Service Co., valued at a registered capital of 30 million RMB [1] - Shenzhen Skyworth Digital will waive its preemptive right to subscribe for the 115 million RMB capital increase in Fengchi Electronics [1] Ownership Changes - Prior to the transaction, Shenzhen Skyworth Digital held 84% of Fengchi Electronics; post-transaction, this stake is expected to decrease to 32.40%, with Fengchi Electronics no longer included in the consolidated financial statements [1] - After the transaction, Skyworth Group is expected to hold 55.82% of Fengchi Electronics [1]

Core Viewpoint - Skyworth Group (00751.HK) announced that its non-wholly owned subsidiary, Skyworth Digital (000810.SZ), reported a revenue of 6.456 billion RMB for the first three quarters of 2025, reflecting a year-on-year decline of 2.45%. The net profit attributable to shareholders decreased by 63.69% to 85.859 million RMB, with basic earnings per share at 0.0752 RMB [1]. Financial Performance - Revenue for the first three quarters of 2025 was 6.456 billion RMB, down 2.45% year-on-year [1] - Net profit attributable to shareholders was 85.859 million RMB, a significant decrease of 63.69% compared to the previous year [1] - Basic earnings per share stood at 0.0752 RMB [1]

Core Insights - Skyworth Group (00751) announced that its non-wholly owned subsidiary, Skyworth Digital (000810), achieved operating revenue of 6.456 billion RMB in the first three quarters of 2025, representing a year-on-year decline of 2.45% [1] - The net profit attributable to shareholders of the listed company was 85.859 million RMB, a significant year-on-year decrease of 63.69% [1] - The basic earnings per share stood at 0.0752 RMB [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內容而 引致的任何損失承擔任何責任。 SKYWORTH GROUP LIMITED 創 維 集 團 有 限 公 司 （於百慕達註冊成立之有限公司） （股份代號：00751） 海外監管公告 創維數字股份有限公司2025年第三季度業績 本公告乃由創維集團有限公司（「本公司」）之董事會（「董事會」）根據香港聯合交易所有限公 司證券上市規則（「上市規則」）第13.09(2)條及第13.10B條以及香港法例第571章證券及期貨條 例第XIVA部內幕消息條文（按上市規則所定義者）而作出。 創維數字股份有限公司（「創維數字」，深圳證券代碼：000810）為一間於深圳證券交易所A股 上市公司及為本公司的一間非全資附屬公司，已刊載了一份有關截至2025年9月30日止九個月 的第三季度未經審計業績報告之公告（「該公告」）。該公告已轉載於附件中。 本公司之股東及潛在投資者應注意，載於該公告內有關創維數字第三季度業績之財務資料未經 審計，中文完整版的創維數字202 ...

Core Insights - The company reported a slight decline in revenue and a significant drop in net profit for the third quarter of 2025, influenced by changes in accounting policies and strategic inventory preparations [2][3] Financial Performance - For Q3 2025, the company achieved a revenue of CNY 2,361,354,192.58, representing a year-on-year increase of 9.06% [2] - The net profit attributable to shareholders was CNY 32,268,593.62, down 40.96% year-on-year [2] - The net profit after excluding non-recurring items was CNY 35,848,194.44, a decrease of 20.96% compared to the previous year [2] - Basic and diluted earnings per share were both CNY 0.0283, reflecting a decline of 40.92% year-on-year [2] - The weighted average return on equity was 0.51%, down 0.34 percentage points from the previous year [2] Year-to-Date Performance - From January to September 2025, the cumulative revenue was CNY 6,456,362,934.12, a decrease of 2.45% year-on-year [3] - The net profit attributable to shareholders for the same period was CNY 85,859,272.74, down 63.69% year-on-year [3] - The net profit after excluding non-recurring items was CNY 83,389,045.85, a decline of 58.58% year-on-year [3] - The net cash flow from operating activities was negative CNY 83,628,442.57, a decrease of 118.47% year-on-year [3] - Basic and diluted earnings per share for the year-to-date were CNY 0.0752, down 63.69% year-on-year [3] - The weighted average return on equity for the year-to-date was 1.34%, down 2.34 percentage points year-on-year [3] Balance Sheet Highlights - As of September 30, 2025, total assets amounted to CNY 11,149,328,939.87, an increase of 4.61% from the end of the previous year [3] - Shareholders' equity attributable to the company was CNY 6,390,059,958.69, a decrease of 0.81% from the end of the previous year [3] Key Changes in Financial Statements - Prepayments increased by 70.68% due to higher advance payments to suppliers [4] - Inventory grew by 39.35% as a result of strategic inventory buildup and customer pre-stocking [7] - Accounts payable rose by 31.66%, corresponding to the increase in strategic inventory [7] - Cash flow from operating activities turned negative primarily due to reduced sales collections and increased inventory expenditures [6][7]

Core Viewpoint - The company announced the sale of a 40% stake in Shenzhen Fengchi Electronics Technology Co., Ltd. for 116 million RMB and the capital increase in Fengchi Electronics through the transfer of 100% equity of Shenzhen Anshida Technology Service Co., Ltd. valued at 104 million RMB, indicating a strategic adjustment to focus on core business and enhance cash flow [1][3] Group 1: Transaction Details - Shenzhen Chuangwei Digital will transfer 40% of its stake in Fengchi Electronics to Chuangwei Group for 116 million RMB [1] - Chuangwei Group will inject 104 million RMB into Fengchi Electronics by transferring its 100% stake in Anshida [1] - Post-transaction, Shenzhen Chuangwei Digital's stake in Fengchi Electronics will decrease from 84% to 32.40%, removing it from the consolidated financial statements [1] Group 2: Company Profiles - Fengchi Electronics, established in 2015, specializes in terminal equipment maintenance, call center operations, and logistics services, with operations in nearly 40 countries [2] - As of August 31, 2025, Fengchi Electronics reported total assets of 93.13 million RMB and a net asset of 60.33 million RMB, with a revenue of 290 million RMB and a net profit of 15.05 million RMB for the first eight months of 2025 [2] - Anshida, also founded in 2015, focuses on home appliance after-sales services and logistics, with total assets of 367 million RMB and a net asset of 73.72 million RMB as of August 31, 2025 [2] Group 3: Strategic Purpose - The company stated that the transaction aims to concentrate resources on core business, reduce related party transactions, and mitigate competition risks, thereby enhancing cash flow and sustainable development [3] - The estimated impact of the transaction on the company's profit for 2025 is projected to be 192 million RMB [3]

Core Viewpoint - The company, Skyworth Digital Co., Ltd., announced on October 25, 2025, its intention to revise its Articles of Association to enhance corporate governance and operational standards in response to the new Company Law and related regulations [1][10]. Revision Background - The revision is a systematic adjustment to align with the new Company Law and regulatory requirements, covering 162 clauses, including 28 new, 126 modified, and 8 deleted clauses, aimed at improving compliance and governance precision [2][11]. Key Revision Points - The revised Articles explicitly include the protection of "employee" rights, emphasizing the company's commitment to safeguarding the rights of employees alongside shareholders and creditors [3][12]. - The responsibilities of the legal representative have been clarified, including a new mechanism for liability recovery from the legal representative in case of damages caused during the execution of duties [4][13]. - The powers of the shareholders' meeting have been optimized, with stricter decision-making processes for significant matters such as external guarantees and share buybacks, requiring a two-thirds majority for certain decisions [5][14][15]. - The audit committee's functions have been strengthened, absorbing the roles of the supervisory board, including oversight of financial disclosures and the authority to convene meetings independently [6][16]. - Shareholder rights have been enhanced, allowing for expanded access to financial records and clearer legal grounds for litigation in case of invalid resolutions [7][17]. - New obligations for controlling shareholders and actual controllers have been established, prohibiting actions that could harm the company's interests and requiring timely disclosure of significant changes [9][18]. Future Arrangements and Market Significance - The revised Articles will require approval at the shareholders' meeting, which will be announced later. If approved, they will serve as the fundamental governance document for the company [10][19]. - Analysts view this revision as a proactive response to the new Company Law, enhancing governance structures and decision-making transparency, which may lead to a more stable investment environment [10][19].

Core Insights - The company reported a revenue of 6.456 billion yuan for the first three quarters of 2025, a year-on-year decrease of 2.45% [1] - The net profit attributable to shareholders was 85.8593 million yuan, down 63.69% year-on-year, with a basic earnings per share of 0.08 yuan [1][2] - The gross profit margin for the first three quarters was 13.18%, a decrease of 1.17 percentage points compared to the previous year [2] Financial Performance - The company’s net profit margin was 1.24%, down 2.20 percentage points year-on-year [2] - In Q3 2025, the gross profit margin improved to 13.65%, an increase of 0.29 percentage points year-on-year and quarter-on-quarter [2] - The net profit margin for Q3 2025 was 1.31%, a decrease of 1.12 percentage points year-on-year and 0.73 percentage points quarter-on-quarter [2] Expense Analysis - Total operating expenses for the period were 767 million yuan, a decrease of 70.2608 million yuan year-on-year [2] - The expense ratio was 11.88%, down 0.77 percentage points from the previous year [2] - Sales expenses decreased by 8.65%, while management expenses increased by 10.46% [2] Shareholder Information - As of the end of Q3 2025, the total number of shareholders was 79,600, a decrease of 8,936 or 10.09% from the end of the previous half [2] - The average market value of shares held per shareholder increased by 27.94%, from 151,900 yuan to 194,300 yuan [2] Company Overview - The company, founded on April 16, 2002, is located in Shenzhen, Guangdong Province, and was listed on June 2, 1998 [3] - Its main business includes research, development, production, sales, and operation of digital smart terminals and front-end systems, with a revenue composition of 70.49% from smart terminals, 25.15% from professional displays, and 4.22% from operation services [3] - The company operates in the home appliance sector, specifically in the black household appliances category, and is involved in various concept sectors including mobile gaming and virtual reality [3]

Core Insights - The company reported a revenue of 6,456,362,934.12 yuan for the first three quarters, representing a year-on-year decrease of 2.45% [1] - The net profit attributable to shareholders was 85,859,272.74 yuan, showing a significant decline of 63.69% compared to the previous year [1] - New shareholders among the top ten circulating shareholders include Lin Minsheng, China Construction Bank Co., Ltd. - Xin'ao New Energy Industry Equity Investment Fund, Lin Yingying, and Lin Tingting [1]