TCL Smart Home(SZ:002668)2025-05-23 10:00Financial Performance - In Q1 2025, the company achieved revenue of 4.6 billion CNY, a year-on-year increase of 9.58%, marking nine consecutive quarters of positive growth [2] - The net profit attributable to shareholders reached 302 million CNY, up 33.98% year-on-year, with 15 consecutive quarters of double-digit growth [2] - The net cash flow from operating activities was 578 million CNY, reflecting a year-on-year growth of 33.33% [2] Debt and Financial Health - As of March 31, 2025, the company's asset-liability ratio was 72.76%, a decrease of 3.45 percentage points from the end of 2024, indicating a stable financial condition [2] Production Capacity - The company's production capacity is primarily located in Zhongshan and Hefei, with a high utilization rate [3] - The annual production capacity of the subsidiary, Oma Refrigerator, is 2.8 million high-end refrigerators, with the first phase achieving 85% of its designed capacity [3] - A new investment of up to 153 million CNY for upgrading refrigerator and washing machine production capacity was completed in April 2025 [3] Global Strategy - The company aims to enhance its global presence by focusing on AI smart home appliances and expanding into emerging and mid-to-high-end markets [4] - Strategies include launching innovative products and increasing brand awareness through international exhibitions and sports marketing [4] Dividend Policy - The company currently has negative retained earnings and does not meet the profit distribution conditions as per the Company Law and Articles of Association [5] - Future dividends will be considered once the company meets the necessary conditions, with a commitment to return value to shareholders [5] Shareholder Relations - The decision not to repurchase shares from minority shareholders of Oma Refrigerator is based on maintaining current equity arrangements to incentivize management and achieve mutual benefits for all stakeholders [6]