股票代码：000921 股票简称：海信家电 公告编号：2025-023 海信家电集团股份有限公司 H 股公告-认购理财产品 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 海信家电集团股份有限公司（「本公司」）于 2025 年 4 月 17 日在香港联合交易所有 限公司披露易网站（www.hkexnews.hk）刊登了公告。根据《深圳证券交易所股票上市 规则》关于境内外同步披露的要求，特将公告内容披露如下，供参阅。 特此公告。 海信家电集团股份有限公司董事会 2025 年 4 月 17 日 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産生或 因依賴該等內容而引致的任何損失承擔任何責任。 HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00921） 須予披露交易 認購理財產品 董事會宣佈，於 2024 年 12 月 17 日至 2025 ...

股票代码：000921 股票简称：海信家电 公告编号：2025-022 海信家电集团股份有限公司 H 股公告-认购理财产品 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 海信家电集团股份有限公司（「本公司」）于 2025 年 4 月 16 日在香港联合交易所 有限公司披露易网站（www.hkexnews.hk）刊登了公告。根据《深圳证券交易所股票上市 规则》关于境内外同步披露的要求，特将公告内容披露如下，供参阅。 特此公告。 海信家电集团股份有限公司董事会 HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00921） 須予披露交易 認購理財產品 董事會宣佈，於 2024 年 12 月 27 日至 2025 年 4 月 16 日期間，本公司及本公司的附屬公司 空調營銷公司及冰箱營銷公司（作為認購方）訂立華夏理財協議，以認購華夏理財產品，認 購金額為人民幣 2,340,000,000 元。 本集團使用自有閒置資金支付該等華夏理財協議下的認購金額。 2 ...

【环球网科技报道 记者 王楠】我国是全球最大的家电制造国，出海是中国家电企业打开增量市场的必由之路。尽管当前国际贸易环境充满不确定性，但头 部家电企业基于深度与多元化兼备的全球布局，锻造了确定性的破局力量，手握打开枷锁的钥匙，走向更广阔的市场。 根据海信家电2024年年度报告显示，公司全年营业收入927.46亿元，同比增长8.35%，其中，海外收入突破356亿，同比增长28%，保持了持续的高增长趋 势。 推进本土化研产销协同，提升多元化发展能力 以全球视野锚定前行方向，是取得长远发展的关键。海信坚定"大头在海外"的国际化战略，踏上建设自主品牌之路，直面全球市场的竞争。 要建设品牌，就要深入扎根当地，研发、生产和营销需要本土化的落地，才能实现与全球市场的深度融合适配。依托五大区域中心布局，海信家电在海外建 立了16个研发中心，19个工业园区，深化"研产销一体化"，更好服务当地市场和消费者，带动海外营业收入的上涨。 持续完善供应链能力，积极把握市场新机会 现代企业的竞争，本质上是供应链的比拼。国金证券研究在相关分析中指出，从供应链角度来看，海外供应链体系成熟度低于我国，短期内难以找到替代。 新兴市场已为我国家电出 ...

股票代码：000921 股票简称：海信家电 公告编号：2025-021 海信家电集团股份有限公司 H 股公告-认购理财产品 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 海信家电集团股份有限公司（「本公司」）于 2025 年 4 月 14 日在香港联合交易所有 限公司披露易网站（www.hkexnews.hk）刊登了公告。根据《深圳证券交易所股票上市 规则》关于境内外同步披露的要求，特将公告内容披露如下，供参阅。 特此公告。 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産生或 因依賴該等內容而引致的任何損失承擔任何責任。 HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00921） 須予披露交易 認購理財產品 海信家电集团股份有限公司董事会 2025 年 4 月 14 日 1 董事會宣佈，於 2024 年 6 月 5 日至 2025 年 ...

股票代码：000921 股票简称：海信家电 公告编号：2025-020 海信家电集团股份有限公司 H 股公告-董事会会议通知 本公司及董事会全体成员保证信息披露内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 海信家电集团股份有限公司（「本公司」）于 2025 年 4 月 11 日在香港联合交易所有 限公司披露易网站（www.hkexnews.hk）刊登了公告。根据《深圳证券交易所股票上市 规则》关于境内外同步披露的要求，特将公告内容披露如下，供参阅。 海信家電集團股份有限公司 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00921） 公告 董事會會議通知 特此公告。 海信家电集团股份有限公司董事会 2025 年 4 月 11 日 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份內容而產生或 因依賴該等內 容而引致的任何損失承擔任何責任。 HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司（「本公司」）董事會（「董事會」）茲通 ...

Investment Rating - The report maintains a "Buy" investment rating for Hisense Home Appliances [5] Core Views - The company's Q4 performance exceeded expectations, with a revenue of 22.167 billion yuan, a year-on-year increase of 7%, and a net profit of 555 million yuan, up 35% year-on-year [5] - The central air conditioning segment remains a key profit driver, despite a challenging market environment, with the company achieving a net profit of 3.486 billion yuan in this segment, a year-on-year increase of 7% [5] - The home appliance segment showed strong growth, with significant increases in both domestic and export sales, particularly in the washing machine category, which saw a 152% year-on-year increase in sales [5] Financial Data and Profit Forecast - Total revenue is projected to grow from 85.6 billion yuan in 2023 to 113.878 billion yuan in 2027, with a compound annual growth rate (CAGR) of approximately 8.4% [2][7] - The net profit attributable to the parent company is expected to increase from 2.837 billion yuan in 2023 to 5.006 billion yuan in 2027, reflecting a CAGR of approximately 15% [2][7] - Earnings per share (EPS) is forecasted to rise from 2.08 yuan in 2023 to 3.61 yuan in 2027 [2][7] - The company's gross margin is expected to stabilize around 22.3% by 2027, with a return on equity (ROE) projected to remain above 21% [2][7] Market Data - As of April 7, 2025, the closing price of the stock is 25.11 yuan, with a market capitalization of 22.896 billion yuan [3] - The stock has a price-to-earnings (P/E) ratio projected to decrease from 12 in 2023 to 7 in 2027, indicating increasing valuation attractiveness [2][3]

Investment Rating - The investment rating for the company is "Buy (Maintain)" [3][15] Core Views - The company has shown strong performance in 2024, with revenue reaching 92.746 billion (up 8%) and net profit attributable to the parent company at 3.348 billion (up 18%) [5] - The fourth quarter of 2024 exceeded expectations, with a revenue of 22.2 billion (up 7%) and a net profit of 560 million (up 35%) [5] - The report highlights that external sales have been a significant driver of revenue growth, despite a slight slowdown in growth rates [6][7] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 92.746 billion, with a year-on-year growth rate of 8% [3] - The net profit attributable to the parent company for 2024 was 3.348 billion, reflecting an 18% increase year-on-year [3] - The fourth quarter of 2024 saw a revenue of 22.2 billion, with a net profit of 560 million, marking a 35% increase [5] Revenue and Profitability - The report indicates that all business segments contributed to profit growth, with external sales being a key factor [8] - The company’s net profit margin improved to 16.8% in 2024, driven by structural improvements and efficiency gains [9] Future Outlook - The company is expected to maintain strong external sales and recover internal sales, with projected net profits of 3.8 billion in 2025 and 4.2 billion in 2026 [11] - The report anticipates a continued focus on improving profit margins in the white goods segment, with a projected profit margin of 2-3% in 2024 [11]

Investment Rating - The investment rating for Hisense Home Appliances is "Buy" and is maintained [5]. Core Views - The company achieved a revenue of 92.746 billion yuan in 2024, representing a year-on-year growth of 8.35%. The net profit attributable to shareholders reached 3.348 billion yuan, up 17.99% year-on-year, and the net profit excluding non-recurring items was 2.606 billion yuan, an increase of 10.65% year-on-year [3][9]. - In Q4 2024, the company reported a revenue of 22.167 billion yuan, a year-on-year increase of 7.08%, with a net profit attributable to shareholders of 555 million yuan, up 34.91% year-on-year, and a net profit excluding non-recurring items of 317 million yuan, an increase of 8.24% year-on-year [3][9]. - The company plans to distribute a cash dividend of 12.30 yuan per 10 shares (tax included) to all shareholders, without issuing new shares or capitalizing reserves [3][9]. Revenue and Profit Analysis - The company's revenue structure shows a decline in domestic sales, with domestic revenue at 47.994 billion yuan, down 2.12% year-on-year, while foreign sales reached 35.629 billion yuan, up 27.59% year-on-year. The growth in foreign sales is attributed to the increasing influence of its overseas brands [9]. - The air conditioning segment generated revenue of 40.284 billion yuan, a growth of 4.22% year-on-year, while the ice washing segment saw revenue of 30.839 billion yuan, up 18.29% year-on-year [9]. - The overall gross margin for 2024 decreased by 0.43 percentage points to 20.78%. The air conditioning segment's gross margin was 28.55%, down 1.32 percentage points, while the ice washing segment's gross margin was 17.56%, down 0.74 percentage points [9]. Future Outlook - The company is expected to maintain a trend of scale and efficiency improvement, with projected net profits for 2025, 2026, and 2027 at 3.858 billion yuan, 4.401 billion yuan, and 5.025 billion yuan, respectively, corresponding to PE ratios of 9.9, 8.7, and 7.6 times [9].

Investment Rating - The report maintains an "Accumulate" rating for Hisense Home Appliances (000921.SZ) with a current price of 29.71 CNY [1] Core Views - The company achieved a revenue of 92.75 billion CNY in 2024, representing a year-over-year increase of 8.3%, and a net profit attributable to shareholders of 3.35 billion CNY, up 18% year-over-year [5] - The company’s revenue for Q4 2024 was 22.17 billion CNY, with a year-over-year growth of 7.1%, and a net profit of 550 million CNY, reflecting a significant increase of 34.9% year-over-year [5] - The profit distribution plan for 2024 includes a cash dividend of 12.30 CNY per 10 shares, totaling 1.7 billion CNY, with a cash dividend ratio of 51% [5] Revenue Performance - Domestic sales revenue for 2024 was 48 billion CNY, down 2.1% year-over-year, while overseas sales revenue reached 35.6 billion CNY, up 27.6% year-over-year [6] - The HVAC business generated 40.3 billion CNY in revenue, a 4.2% increase year-over-year, with significant growth in overseas markets for central air conditioning [6] - The home appliance segment saw revenue of 19.5 billion CNY, an 18.5% increase, driven by government subsidies and improved domestic sales performance [6] - The ice washing business reported revenue of 30.8 billion CNY, up 18.3% year-over-year, benefiting from government policies [6] Profitability and Cost Structure - The overall gross margin for 2024 was 20.8%, a decrease of 1.3 percentage points year-over-year, with domestic gross margin at 30.7% and overseas gross margin at 11.4%, which increased by 1.2 percentage points [7] - The company’s net profit margin for 2024 was 3.6%, an increase of 0.3 percentage points year-over-year, with expectations for gradual improvement due to stock incentive plans [7] Financial Forecast and Valuation - The report projects net profits of 3.79 billion CNY for 2025 and 4.28 billion CNY for 2026, with a new forecast for 2027 at 4.71 billion CNY [8] - The current price corresponds to a price-to-earnings (P/E) ratio of 11/10/9 for the years 2025-2027 [8] - The report maintains the "Accumulate" rating based on the company's strong performance in the HVAC sector and the successful cost reduction and efficiency improvements at its subsidiary, Hisense Hitachi [8]

Core Viewpoint - Hisense Home Appliances reported a revenue of 92.7 billion yuan and a net profit attributable to shareholders of 3.3 billion yuan for 2024, reflecting year-on-year increases of 8% and 18% respectively [1] Financial Performance - The revenue for 2024 was 92.7 billion yuan, with a net profit of 3.3 billion yuan and a net profit excluding non-recurring items of 2.6 billion yuan, showing year-on-year growth of 8%, 18%, and 11% respectively [1] - In Q4 2024, the revenue was 22.2 billion yuan, net profit was 560 million yuan, and net profit excluding non-recurring items was 320 million yuan, with year-on-year growth of 7%, 35%, and 8% respectively [1] Dividend Policy - The company proposed a cash dividend of 12.3 yuan per 10 shares, totaling 1.7 billion yuan, with a dividend payout ratio of 50.9% [1] Product Performance - In 2024, revenue from HVAC, washing machines, and other main products was 40.3 billion yuan, 30.8 billion yuan, and 12.5 billion yuan respectively, with year-on-year growth of 4%, 18%, and 2% [2] - Hisense Hitachi's revenue was 20.7 billion yuan, down 6% year-on-year; excluding Hisense Hitachi, air conditioning revenue grew by 18.5% [2] Regional Performance - Domestic revenue in 2024 was 48 billion yuan, down 2% year-on-year, with a decline of 8% in H2 compared to H1 [4] - Overseas revenue reached 35.6 billion yuan, up 28% year-on-year, with white goods revenue increasing by 36% [4] Profitability - The overall gross margin for 2024 was 20.8%, a decrease of 0.43 percentage points year-on-year, with significant improvement in overseas gross margin [5] - The sales expense ratio was 9.7%, down 0.29 percentage points year-on-year, while R&D expense ratio increased [5] - The net profit margin attributable to shareholders was 3.6% for 2024, an increase of 0.3 percentage points year-on-year [6] Investment Outlook - The company is focused on user-centered innovation, optimizing regional, channel, product, and supply chain structures, with significant competitive advantages in central air conditioning and rapid growth in home appliances and washing machines [6] - Projected net profits for 2025 and 2026 are 3.8 billion yuan and 4.2 billion yuan respectively, with corresponding EPS of 2.7 yuan and 3.1 yuan [6]