30 July 2025 | 7:17PM CST Hisense Home Appliances Group (000921.SZ): 2Q25 First Take: Central AC weigh on growth, core margins in-line; Buy Hisense Home Appliances reported below-expectation 2Q25 results post market close of July 30. Total revenue/net profit in 1H25 was Rmb49,340mn/Rmb2,077mn, growing by +1%/+3% yoy, and implying -3%/-8% yoy in 2Q (-7%/-8% vs. GSe). The by-product performance is consistent with our preview where we expect central AC to decelerate again impacted by both less support from tra ...

1 August 2025 | 7:36AM CST Hisense Home Appliances Group (000921.SZ) 2Q25 Earnings Review: Underlying results better than it appears, attractive valuation; Buy Hisense Home Appliances reported below-expectation 2Q25 results mainly due to central AC weakness though margins were in-line (First Take). Total revenue/net profit in 1H25 was Rmb49,340mn/Rmb2,077mn, growing by +1%/+3% yoy, and implying -3%/-8% yoy in 2Q. Share price reacted negatively (A/H -5.6%/-6.4% vs CSI300/HSI -3.2%/-1.6%) to the results likel ...