Hisense V.T.(SH:600060)2024-10-29 11:34Financial Performance - The company's operating revenue for Q3 2024 reached ¥15.19 billion, an increase of 5.84% year-on-year, while the net profit attributable to shareholders decreased by 19.46% to ¥476.32 million[2]. - The net profit attributable to shareholders for the first three quarters of 2024 was ¥1.31 billion, down 19.53% year-on-year[2]. - The net profit for Q3 2024 was CNY 1.56 billion, down from CNY 1.92 billion in Q3 2023, indicating a decrease of about 18.6%[24]. - The total comprehensive income for Q3 2024 was CNY 1.53 billion, down from CNY 1.90 billion in Q3 2023, a decline of about 19.5%[24]. - Earnings per share for Q3 2024 were CNY 1.01, compared to CNY 1.26 in Q3 2023, representing a decrease of approximately 19.0%[24]. Assets and Liabilities - The total assets at the end of Q3 2024 were ¥41.81 billion, down 7.31% from the end of the previous year, and the equity attributable to shareholders decreased by 0.64% to ¥18.77 billion[3]. - Total assets as of September 30, 2024, were CNY 41.81 billion, a decrease from CNY 45.11 billion at the end of 2023, representing a decline of approximately 7.14%[21]. - Total liabilities as of September 30, 2024, were CNY 17.61 billion, down from CNY 19.87 billion at the end of 2023, indicating a decrease of about 11.43%[21]. Cash Flow - The company's cash flow from operating activities for Q3 2024 was ¥1.74 billion, reflecting a 100.37% increase quarter-on-quarter[4]. - The company reported a net cash flow from operating activities of CNY 2.95 billion for the first three quarters of 2024, compared to CNY 2.38 billion in the same period of 2023, reflecting an increase of approximately 23.9%[25]. - The company's investment activities generated a net cash flow of CNY 145.60 million in the first three quarters of 2024, a significant improvement from a net outflow of CNY 1.14 billion in the same period of 2023[26]. - The cash and cash equivalents at the end of Q3 2024 stood at CNY 1.74 billion, up from CNY 1.68 billion at the end of Q3 2023[26]. Revenue Growth - The global revenue from smart display terminals was ¥12.20 billion, a year-on-year increase of 8.03%, with overseas revenue growing by 16.38% to ¥8.18 billion[6]. - Total operating revenue for the first three quarters of 2024 reached CNY 43.21 billion, an increase from CNY 38.62 billion in the same period of 2023, representing a growth of approximately 12.9%[25]. - Total operating revenue for the first three quarters of 2024 reached CNY 40.65 billion, an increase from CNY 39.23 billion in the same period of 2023, representing a growth of approximately 3.63%[22]. Market Performance - The market share of Hisense televisions in the domestic market reached 27.12%, with a quarter-on-quarter increase of 1.17 percentage points[6]. - The sales revenue of Hisense's Mini LED televisions in the domestic market grew by 101.55%, achieving a market share of 33.34%[9]. - The sales revenue of 85-inch and larger products globally increased by 69.43% year-on-year, while sales of 100-inch and larger products surged by 213.57%[8]. - In the third quarter, sales of Hisense laser TVs with sizes of 100 inches and above in the mainland China market increased by 24.37% year-on-year[11]. - Hisense's online 4K laser projection market share reached 21.97%, ranking in the top three of the industry, while the market share for online projectors priced over 5000 RMB was 27.98%, leading the industry[11]. Costs and Expenses - Total operating costs for the first three quarters of 2024 were CNY 39.52 billion, up from CNY 37.66 billion in 2023, indicating an increase of about 4.93%[22]. - The company's financial expenses decreased by 4.23% in the current period, mainly due to foreign exchange rate fluctuations[14]. - The company's financial expenses for Q3 2024 were CNY 60.24 million, compared to a financial income of CNY 9.95 million in Q3 2023[23]. - Research and development expenses for Q3 2024 amounted to CNY 1.71 billion, slightly up from CNY 1.72 billion in Q3 2023[23]. Shareholder Information - The top ten shareholders held a total of 29,823 ordinary shares at the end of the reporting period[15]. - Hisense Group Holdings Co., Ltd. is the largest shareholder, holding 392,505,971 shares, accounting for 30.07% of the total shares[16]. Other Financial Metrics - The weighted average return on equity decreased by 1.52 percentage points to 6.96% for the year-to-date period[2]. - The company's non-recurring gains totaled 130,722,641.03 RMB for the current period, with a cumulative amount of 323,140,754.56 RMB since the beginning of the year[12]. - The net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, decreased by 32.34% in the current period due to market policy adjustments[14]. - Accounts receivable financing decreased by 41.90% at the end of the reporting period, primarily due to changes in bank bill scales[13]. - Prepaid accounts increased by 42.98% at the end of the reporting period, mainly due to an increase in prepaid material costs[13]. - Inventory decreased by 16.17% at the end of the reporting period, attributed to improved operational efficiency through digital process enhancements[13].