Hisense V.T.(SH:600060)2023-08-29 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥24.87 billion, an increase of 23.06% compared to ¥20.21 billion in the same period last year[14]. - Net profit attributable to shareholders was ¥1.04 billion, up 74.65% from ¥593.68 million in the previous year[14]. - The basic earnings per share increased to ¥0.795, representing a growth of 74.73% compared to ¥0.455 in the same period last year[15]. - The company reported a significant increase in net profit after deducting non-recurring gains and losses, reaching ¥847.39 million, a 110.06% increase from ¥403.40 million last year[14]. - The company achieved operating revenue of 24.875 billion yuan, a year-on-year increase of 23.06%[33]. - The net profit attributable to shareholders was 1.037 billion yuan, representing a year-on-year growth of 74.65%[36]. - The company reported a total comprehensive income for the first half of 2023 was ¥1,207,925,056.33, compared to ¥794,793,741.57 in the previous year, indicating strong overall performance[132]. - The company reported a significant increase in investment income, totaling ¥270,296,024.56, compared to ¥121,859,187.09 in the previous year[131]. Assets and Liabilities - The total assets of the company at the end of the reporting period were ¥42.64 billion, a 19.25% increase from ¥35.76 billion at the end of the previous year[14]. - The company's net assets attributable to shareholders were ¥17.90 billion, a slight increase of 1.99% from ¥17.55 billion at the end of the previous year[14]. - The company's total liabilities increased to ¥18.74 billion from ¥15.86 billion, an increase of approximately 18.3%[128]. - The company's total equity at the end of the reporting period was 23,899,590,155.46 RMB, reflecting changes in various components of equity[141]. - The total liabilities decreased to ¥9,281,713,395.16 from ¥10,295,392,667.20 year-over-year, indicating improved financial health[130]. Cash Flow - The net cash flow from operating activities was ¥676 million, a decrease of 79.81% compared to ¥3.35 billion in the same period last year[14]. - The net cash flow from operating activities for the first half of 2023 was -292,316,779.95 RMB, a significant decrease compared to 2,801,922,134.83 RMB in the same period of 2022[138]. - Cash flow from investing activities resulted in a net outflow of CNY 552.14 million, an improvement from a net outflow of CNY 2.94 billion in the same period last year[137]. - The company’s cash flow hedge reserve showed a negative impact of -¥14,676,028.26, reflecting currency fluctuations[132]. Market Performance - The global TV shipment volume reached 92.71 million units in the reporting period, a year-on-year increase of 0.1%[20]. - The average TV size globally increased by 1.6 inches to 49.1 inches, while in mainland China, it increased by 3.6 inches to 59.2 inches[21]. - The market share of TVs 65 inches and above globally rose to 21.6%, an increase of 4.1 percentage points year-on-year[21]. - The retail volume of 75-inch and above TVs in mainland China accounted for 25.0%, up 11.3 percentage points year-on-year[21]. - The company achieved a 34.8% year-on-year increase in laser TV shipments in mainland China, capturing a 50.0% share of the global market[26]. Research and Development - The company’s investment in R&D increased by 18.32% to CNY 1.13 billion, reflecting a focus on technological advancements[67]. - Research and development expenses increased to ¥1,125,141,161.00, compared to ¥950,953,598.90 in the previous year, reflecting a focus on innovation[131]. - The company has filed 980 patents related to ULED technology, with 503 granted, indicating a strong commitment to innovation and industry standards[54]. Subsidiaries and Acquisitions - The company acquired control of Qian Zhao Guang Dian, increasing its shareholding to 22.66% after a capital increase in May 2023[72]. - The company's investment in Qian Zhao Guang Dian amounted to CNY 1.605 billion, with a negative impact of CNY 74 million on net profit during the reporting period[73]. - The company plans to spin off its subsidiary Qingdao Xinxin Microelectronics Technology Co., Ltd. to the Sci-Tech Innovation Board, which is expected to enhance shareholder and creditor rights[78]. Environmental Compliance - The company has established wastewater and waste gas treatment facilities in compliance with national and local environmental laws[87]. - The company has developed emergency response plans for environmental incidents and completed the necessary local regulatory filings[89]. - The company is committed to reducing carbon emissions by improving resource and energy efficiency, and has developed technologies that significantly lower energy consumption compared to previous product generations[101]. Corporate Governance - The company has appointed a new president, Li Wei, following the retirement of the previous chairman, Cheng Kaixun, and the adjustment of Yu Zhitang's role[80][81]. - The company did not propose any profit distribution or capital reserve increase plans for the half-year period[82]. - The company has a stock incentive plan that was approved in June 2021, with no recent updates on its implementation[83]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period was 32,034[120]. - The largest shareholder, Hisense Group Holdings Co., Ltd., held 30.02% of the shares, totaling 392,505,971 shares[120]. - The company reported a total guarantee amount of 5.613691 billion RMB, which accounts for 3.14% of the company's net assets[116].