海信视像：前三季度主营业务收入稳步增长 凸显价值成长优势

Core Viewpoint - Hisense Visual reported strong financial performance for the first three quarters of 2025, with a focus on value growth and innovation in display technology, positioning itself as a leader in the high-end display market [1][2]. Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 39.989 billion yuan, a year-on-year increase of 5.65%, and a net profit attributable to shareholders of 1.629 billion yuan, up 24.27% year-on-year [1]. - In Q3 2025, the company recorded a revenue of 15.066 billion yuan and a net profit of 573 million yuan, representing year-on-year growth of 6.71% and 20.15%, respectively [1]. Technological Innovation - The company adheres to a "technology-driven enterprise" strategy, focusing on three core display technologies: LCD, laser, and Micro LED, to enhance its competitive edge in the high-end display sector [2]. - Hisense has made significant advancements in RGB-Mini LED technology, overcoming challenges in chip and algorithm development, and has launched several flagship products, including the world's first 116-inch RGB-Mini LED TV [2]. Market Position and Growth - Hisense's sales data indicates a substantial increase in the large-screen TV market, with over 64% and 59% year-on-year growth in the 98-inch and 100-inch segments, respectively [1]. - The global shipment of Hisense's Mini LED TVs grew by 76%, with a remarkable increase of over 200% in the Chinese market [1]. Future Growth Strategies - The company is expanding its business into commercial displays, cloud services, and emerging technologies such as AI, AR/VR, and robotics, aiming to create new growth engines [3]. - Hisense is recognized as a leader in AI television, establishing an integrated AI capability system and contributing to international standards in smart home technology [3]. Industry Recognition - The company's innovation and growth potential have been acknowledged by over 20 leading securities firms, which have issued positive ratings, reflecting confidence in Hisense's technological attributes and long-term growth value [3].