On the evening of November 24, 2014, Skyworth Digital Holdings Co., Ltd. (hereinafter referred to as Skyworth, and its subsidiaries, collectively referred to as the “Groupâ€) (HKSE stock code: 00751) was announced in Hong Kong as of September 30, 2014. The six-month mid-term results are limited. The Group’s turnover was HK$18.478 billion, a decrease of 7.7% from last year, and gross profit was HK$3.612 billion, a decrease of 5.8% from the same period of last year. The overall gross profit margin of the Group was 19.5%, which was an increase of 0.4 percentage points from the same period of last year. Group's total profit was HK$908 million, an increase of 12.7% over the same period of last year
Profit attributable to equity holders rose by 14.6% to HK$824 million. Basic earnings per share increased by 13.6% to HK29.13 cents. The profitability rate was 4.9%, up 0.9% from the same period of last year.
The group's board of directors proposed to pay an interim dividend of 9.5 HK cents per share. The interim dividend payment rate was stable at 32.6%.
Sustained trials of volume and price drop in color TV market, TV sales and overall gross profit margin of the Group increased
Mr. Yang Dongwen, President of Skyworth Group, stated that the slowdown in economic growth in Mainland China, the chain effect of real estate regulation on related industries, and the weakening of personal consumer confidence, coupled with the wait-and-see phase of government policies, the entire color TV industry in the Chinese mainland market Sales volume and turnover both declined year-on-year. The rise of cross-border internet and content companies has intensified the competition pace and speed of the color TV industry, putting the traditional color TV industry to a severe test. Despite the difficult operating environment, the Group’s overall TV sales volume during the period was still 6.1% higher than that of the same period of last year, but it could not fully compensate for the decline in sales prices, resulting in a slight decline in the Group’s overall turnover year-on-year.
The Group’s sales in the Chinese market accounted for 80.4% of the total turnover, which was 9.0% lower than the same period. The most important color TV products accounted for 76.7%. Digital set-top boxes, white goods (mainly refrigerators and washing machines) and LCD devices accounted for 7.4%, 7.4% and 2.0% respectively. The remaining 6.5% of turnover was distributed in other businesses, including property rental, lighting, security and other electronic products.
Faced with the fierce price war in the color TV market in mainland China, the management of the Group understands that only through continuous technological innovation, through the sale of high-end products and tightening of production costs, can we ensure the profitability of products and create more profits. Therefore, in the current period, the Group adjusted its product sales structure and mainly promoted products with higher gross profit margins, such as E710, E510, E690, and E360, and its total sales in the first half of the year amounted to 51.3%, resulting in a year-on-year increase in gross profit margin. At the same time, the Group reduced its outsourced TV modules to self-manufactured products. It also built strategic partnerships with Huawei and other components, and began using them on GLED products, effectively reducing the relative cost of up to 20.0%. Gross margin.
Strong 4K TV growth, independent research and development of a new generation of GLED products laid the industry's leading position
Mr. Liu Yanzhi, president of Skyworth Group’s color TV business division, said: With the advancement of panel technology, the perfection of television systems and the richness of software content, the penetration rate of intelligent products has risen rapidly. In 2014, the color TV industry ushered in the accelerated popularity of 4K TVs. Although the overall market experienced downward pressure on volume prices, the growth rate of Skyworth 4K TVs remains strong. In particular, this year's World Cup in Brazil, including the finals, have achieved 4K transmission of live broadcasts, and 4K TVs have become the focus of the consumer market. The Group seized this opportunity to promote 4K products, plus the Group’s 4-color 4K E710U. Since the launch of the series of products, it has received unanimous favorable comments from the testing experts and users, which has led to a doubling of sales of the Group’s 4K TV sets.
In the current period, about 4.33 million sets of Skyworth LED LCD TVs were sold in the Chinese mainland market, up 2.5% from the same period last year. The sales of 4K cloud TVs and cloud TVs climbed to 570,000 and 1.54 million, respectively, which together accounted for 48.9% of the Group's total TV sales in the Chinese mainland market, up by 205.1% and 39.8% from the same period last year.
As a leading color TV company in China, Skyworth Group continuously optimizes its product mix and structure, launches 3D televisions, smart TVs and cloud TV series one after another, and independently develops and researches in the third generation of display technology OLED. At the same time, it was launched on August 20, 2014. A generation of geek Internet GLED series 4K ultra high-definition televisions have laid a leading position in the industry. In the current period, with the innovation of technology and products, the Group won many awards in the field of color TV and strengthened the visibility of Skyworth's brand.
According to Beijing Aowei Marketing Consulting Co., Ltd.'s total retail sales figures in 711 cities and 6,023 terminal stores in China, Skyworth’s domestic market and foreign brands’ 4K over the past 12 consecutive months ended September 30, 2014 The cumulative sales of high-definition LCD TVs, LCD TVs, and all TVs ranked first in the Chinese mainland market, with market share of 22.8%, 17.0%, and 16.6%, respectively. Cumulative sales also ranked first, the market The market share was 20.8%, 16.2% and 15.9% respectively.
In the current period, the Group continued to adjust its product mix and vigorously expanded its market share in the high-end and high-end TV markets. As a result, sales of LED LCD TVs increased to 100%, driving the overall average selling price to increase by 5.3%.
Accelerate the promotion of large-size products and deploy the future in a soft and hard combination
In the second half of the year, the elimination of low-definition and small-size products will accelerate. The Group will accelerate product technology upgrades, strengthen new product promotion and speed up the switching of mid-to-high-end products to maintain product prices and increase brand premiums.
2014 was a year of difficult transition in China's color TV industry. Faced with the rise of Internet companies, traditional TV companies should seize the window period and provide consumers with diversified products and services to ensure stability through customization, customization, and diversification. Accounting for the leading position in the color TV industry. In the face of the current situation, the Group’s strategic deployment in the future will focus on three aspects. First, product innovation, including the application of new display technologies and new semiconductor technologies. For example, GLED released in August is a chip launched by Huawei Hass Semiconductor. Save on procurement costs, allowing users to enjoy new high-quality products at a discounted price. The second is the combination of hardware and software, from the hardware provider to the hardware + content service provider transformation, in the intelligent large-screen interactive platform, derived from video on demand, games, social networking, fitness and other diverse needs. The third is to explore the international market. The Group will introduce more localized genes in its overseas strategy. \
It is expected that in the second half of the year, large-screen smart TVs will become mainstream products in the Chinese mainland market, and will play the role of information aggregation and display center in smart homes. In the second half of the year, the Group will intensify efforts to promote large-size products. The proportion of large-size products in newly launched new products will reach 60%. At the same time, large-scale products will be displayed and displayed in all directions from terminals, demonstrations, etc. Some content, videos and games suitable for large screens will also be introduced to assist the expansion of the market and the sales volume and sales volume of the Group's television sets will achieve the desired target.
Color TV products sell well overseas and brand awareness continues to increase
Chinese companies continued to slow their exports in overseas markets, but during the period, the Group still stepped up exploration into South Africa and Europe and expanded the Skyworth brand of TV sales.
During the period, the turnover from overseas markets accounted for 19.6% of the Group's total turnover, a slight decrease of 1.8% from the same period of last year; the turnover of color TV products in overseas markets was HK$2.04 billion, accounting for 56.3% of the total turnover of overseas markets. This was an increase of 23.1% over the same period last year. Sales volume in overseas markets reached 1.61 million units, up 16.8% from the same period last year, of which LED LCD TVs increased by 47.3% to 1.61 million units.
The Group actively participated in the trade fairs in different regions. As a result, Skyworth's brand awareness in the overseas market continued to increase. The Asian market has also become one of the areas in which the Group’s own brand sales have attracted much attention. Mr. Liu Yanzhi, President of Skyworth Group’s color TV business division, stated that in the second half of the year, the Group will continue to explore different modes of sales channels for overseas markets, and in response to the needs of different markets, introduce multiple products that meet customer needs in order to boost the turnover of color TV products in overseas markets. Increase.
The Group will establish a shared sales platform for overseas markets and adopt prudent strategies. In addition to ensuring the growth of markets in Asia and the Americas, it will also strive to increase market share in Europe, the Middle East and Russia and other regions in order to lay the position of overseas markets. At the same time, it will adjust the product structure, accelerate the penetration of mid- to high-end products according to the needs of different markets, increase the proportion of mid-to-high-end products sold in overseas markets, and ensure that sales in overseas markets continue to grow.
The digital set-top box business takes the opportunity and the market at home and abroad continues to grow
Dr. Shi Chi, Executive Director of Skyworth Group and President of the Set-Top Box Division, stated that the digital set-top box achieved a turnover of HK$1.098 billion in the Chinese mainland market, an increase of HK$60 million or 5.8% from HK$1.038 billion in the same period last year.
2014 is the first year of the development of cable TV digital television set-top boxes in mainland China. DVB and OTT set-top boxes have become the mainstream development direction. The Group’s digital industry has a complete OTT business platform and rich experience in DVB development. Moreover, digital set-top boxes have already become well-known brands in mainland China. With the expansion of live satellite coverage in rural areas, the Group’s sales of digital set-top boxes also increased year-on-year. Turnover increased.
During the period, the Group's digital set-top box sales in overseas markets increased by 4.3% from the same period last year to HK$1,172 million.
As it seized the opportunity of some countries in Africa to push forward the digitization process, especially for South African operators to increase the digitalization of digital terrestrial broadcasting, the Group became one of the major suppliers in the region and brought a significant increase in sales of digital set-top boxes. In the second half of the year, the Group will adjust its business team to consolidate the foundation of the overseas market. At the same time, the Group will increase the market promotion of medium and high-end products, increase the brand image and popularity of digital set-top boxes in the B2B market, and change the strategy that has been adjusted in the past in response to customer demand, and instead, it will lead customers to change their needs in order to make overseas markets The turnover has grown steadily.
Sales of white goods and liquid crystal devices have increased
White home appliances have achieved a turnover of 1.1 billion Hong Kong dollars in the Chinese mainland market, an increase of 58% over the same period of last year or an increase of HK$404 million.
With the completion of the new factory for white household appliances, the Group began to independently manufacture washing machines and strictly monitored product quality, which greatly increased consumer confidence in the Group's white household appliances. Together with continuous expansion of its own customer base and e-commerce sales channels, the sales volume has been growing satisfactorily, which has driven the continuous growth of the white household appliance industry. It is expected that in the second half of the year, the Group will strengthen the introduction of high-end products by improving quality and developing high-smart and fashionable products to demonstrate the strength of white household appliances and enhance brand image. At the same time, the Group will also develop different sales channels for distribution, expand the market share of white household appliances, and further increase the turnover of white household appliances.
During the period, white household electrical appliances (mainly tablet PCs) achieved a turnover of 223 million Hong Kong dollars in overseas markets, a decrease of 47.7% or a decrease of 203 million Hong Kong dollars from the same period of last year, mainly due to the overall decrease in global tablet shipments in the first half of the year. As a result, the volume of orders from customers has declined significantly year-on-year, and new development customers have not been able to fill gaps in old customers in a timely manner, resulting in a drop in turnover.
At present, the overseas market for white goods mainly sells tablet computers. However, in the second half of the year, in addition to consolidating existing customers, the Group will try to develop overseas markets for refrigerators and washing machines to broaden the variety of products in overseas markets and strengthen the awareness of overseas customers on Skyworth brands. degree. At the same time, the Group will continue to promote the brand building system of Skyworth, expand the R&D system, develop products with different functions and enhance product quality, strengthen the trust and support of overseas customers, and enable the turnover of overseas markets to rebound.
The turnover of LCD devices in the Chinese mainland market rose to HK$292 million, an increase of HK$22 million or 8.1% compared to the same period last year. The Group has many years of experience in the development of LED backlight products and has mature technology, especially in the independent small and medium size modules, and the Group has maintained a good customer base and is deeply trusted and supported by customers.
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