海信家电(00921) - 2025 - 中期业绩

Company Announcement Information Announcement Statement and Company Basic Information Hisense Home Appliances Group Co, Ltd (00921) released its 2025 interim results announcement for the six months ended June 30, 2025, with unaudited results reviewed by the audit committee - Company Name: Hisense Home Appliances Group Co, Ltd (00921)[2] - Reporting Period: Six months ended June 30, 2025[3] - Review Status: Unaudited interim results reviewed by the Board's Audit Committee[3] Financial Statements Consolidated Balance Sheet As of June 30, 2025, the company's total assets reached 74.81 billion RMB, a 7.33% increase from January 1, 2025, with current assets accounting for approximately 77.27% of the total, while total liabilities were 55.30 billion RMB and owner's equity was 19.52 billion RMB Consolidated Balance Sheet Key Data (As of June 30, 2025) | Indicator | June 30, 2025 (RMB) | January 1, 2025 (RMB) | Change | | :--- | :--- | :--- | :--- | | Total Assets | 74,812,977,278.50 | 69,701,939,817.33 | 7.33% Increase | | Total Current Assets | 57,805,446,745.90 | 52,507,910,456.50 | 10.09% Increase | | Total Non-Current Assets | 17,007,530,532.60 | 17,194,029,360.83 | 1.08% Decrease | | Total Liabilities | 55,297,948,921.09 | 50,327,415,106.20 | 9.88% Increase | | Total Owner's Equity | 19,515,028,357.41 | 19,374,524,711.13 | 0.72% Increase | Consolidated Income Statement In the first half of 2025, the company achieved total operating revenue of 49.34 billion RMB, a 1.44% year-on-year increase, with net profit at 2.99 billion RMB, a 1.37% year-on-year decrease, and net profit attributable to owners of the parent company at 2.08 billion RMB, a 3.01% year-on-year increase Consolidated Income Statement Key Data (January-June 2025) | Indicator | January-June 2025 (RMB) | January-June 2024 (RMB) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 49,340,344,981.85 | 48,641,673,374.79 | 1.44% Increase | | Total Operating Costs | 46,785,652,816.07 | 46,206,400,614.00 | 1.25% Increase | | Operating Profit | 3,378,926,755.43 | 3,358,753,563.53 | 0.60% Increase | | Total Profit | 3,425,345,316.42 | 3,499,349,611.74 | 2.11% Decrease | | Net Profit | 2,988,665,863.17 | 3,030,152,740.60 | 1.37% Decrease | | Net Profit Attributable to Owners of the Parent Company | 2,076,581,358.73 | 2,015,831,383.14 | 3.01% Increase | | Minority Interests | 912,084,504.44 | 1,014,321,357.46 | 10.08% Decrease | Notes to Financial Statements General Information (Company Background) The company was incorporated in China on December 16, 1992, with H-shares and A-shares listed in 1996 and 1999, respectively, and as of June 30, 2025, its total share capital was 1,385,616,805 shares, with Hisense Air Conditioning as the controlling shareholder holding 37.29%, primarily engaged in R&D, manufacturing, and marketing of various home appliances and automotive air conditioning compressors - Company Incorporation Date: December 16, 1992[10] - H-share Listing Date: July 23, 1996 (HKEX); A-share Listing Date: July 13, 1999 (SZSE)[10] - Total Share Capital as of June 30, 2025: 1,385,616,805 shares, with Hisense Air Conditioning as the controlling shareholder holding 37.29%[12] - Main Business: R&D, manufacturing, and marketing of refrigerators, household air conditioners, central air conditioners, freezers, washing machines, kitchen appliances, molds, automotive air conditioning compressors, and integrated thermal management systems[12] Basis of Preparation of Financial Statements The company's financial statements are prepared on a going concern basis in accordance with Chinese Enterprise Accounting Standards and relevant regulations from the China Securities Regulatory Commission, Shenzhen Stock Exchange, and Hong Kong Stock Exchange, using the accrual basis and historical cost as measurement bases - Basis of Preparation: Going concern assumption, adhering to Chinese Enterprise Accounting Standards and relevant disclosure requirements[13] - Accounting Basis: Accrual basis, measured at historical cost except for certain financial instruments[13] Significant Accounting Policy Changes There were no significant accounting policy changes in the current period, but the company retrospectively adjusted "Operating Costs" and "Selling Expenses" for 2024 based on Interpretation No 18 of the Accounting Standards for Business Enterprises, reclassifying warranty provisions to operating costs, which increased operating costs by 240 million RMB and decreased selling expenses by 240 million RMB in the first half of 2024 - No significant accounting policy changes in the current period[14] - 2024 Accounting Policy Change: Warranty provisions reclassified from "Selling Expenses" to "Cost of Sales" and "Other Operating Costs" based on Interpretation No 18 of the Accounting Standards for Business Enterprises[14] Impact of Accounting Policy Change on Consolidated Income Statement Items for H1 2024 | Item | Before Adjustment (RMB) | Adjustment (RMB) | After Adjustment (RMB) | | :--- | :--- | :--- | :--- | | Operating Costs | 38,291,675,401.05 | 240,034,724.24 | 38,531,710,125.29 | | Selling Expenses | 4,959,752,440.46 | -240,034,724.24 | 4,719,717,716.22 | Segment Information The company segments its operations by HVAC, refrigeration/washing, and other businesses, with external revenue in the first half of 2025 at 23.69 billion RMB for HVAC, 15.39 billion RMB for refrigeration/washing, and 6.61 billion RMB for other businesses, while overseas transaction revenue increased by 12.34% year-on-year to 20.45 billion RMB External Transaction Revenue by Business Segment for H1 2025 | Segment | External Transaction Revenue (RMB) | | :--- | :--- | | HVAC | 23,694,226,316.45 | | Refrigeration & Washing | 15,392,341,672.05 | | Other | 6,613,204,473.42 | | Total | 45,699,772,461.92 | Regional Transaction Revenue for H1 2025 | Region | January-June 2025 (RMB) | January-June 2024 (RMB) | | :--- | :--- | :--- | | Domestic Transaction Revenue | 25,248,768,513.67 | 25,328,122,655.20 | | Overseas Transaction Revenue | 20,451,003,948.25 | 18,205,328,605.92 | | Total | 45,699,772,461.92 | 43,533,451,261.12 | - Overseas transaction revenue increased by 12.34% year-on-year[20] Accounts Receivable As of June 30, 2025, the carrying value of accounts receivable was 12