Skyworth Group Limited · HKEX:751
Skyworth — FY2024 Earnings Presentation
32 slides from Skyworth's earnings presentation, Mar 27, 2025
Slide 1: 2024 Annual Results
創維集團有限公司 SKYWORTH GROUP LIMITED Stock Code: 00751.HK 2024 Annual Results 27 March 2025 1
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results of operations and businesses of Skyworth Group Limited (“Skyworth” or the “Group”). These forward-looking statements represent Skywort
Slide 3: Four Key Business Sectors
Four Key Business Sectors Smart Household • Smart TV Appliances Business • Smart white appliances • Other smart appliances • Internet connection services of Coocaa system Smart Systems • Smart set-top boxes • Integration systems for Technology Business and solutions automotive display • Broadband ne
Slide 4: 2024AR Results Highlights
2024AR Results Highlights -5.8% -34.3% -6.3% Revenue Profit for the year Gross profit RMB65.01 bil RMB1.16 bil RMB8.81 bil Net Cash assets position RMB23.14 bil RMB11.79 bil Fully implemented three key strategies of smartisation, refinement and internationalisation 15 R&D centres 19 Manufacturing ce
Slide 5: 2024 Annual Results
— aon 01 2024 ANNUAL RESULTS
Slide 6: Overall Results
Overall Results (RMB million) FY2024 FY2023 Change FY2022 Revenue 65,013 69,031 (5.8%) 53,491 Gross profit 8,808 9,402* (6.3%) 8,207 Gross profit margin 13.5% 13.6%* (0.1 pp) 15.3% Operating profit (EBIT) 2,218 2,845 (22.0%) 2,251 Operating profit margin 3.4% 4.1% (0.7 pp) 4.2% Profit for the year 1
Slide 7: Revenue by Major Business Segment
Revenue by Major Business Segment Revenue (post-tax) Revenue Breakdown (Jan – Dec 2024) (RMB million) 80,000 -5.8% Smart Household 69,031 Smart Systems Appliances 13.1% Technology Business 65,013 4,708 2,841 Business 60,000 23,340 20,270 51.4% RMB 40,000 65.01 billion New Energy 8,495 31.2% 10,391 B
Slide 8: Revenue in Overseas Markets
Revenue in Overseas Markets Skyworth Brand Entering Emerging and European Markets TV： Acquired SINOTEC in Africa in 2014, acquired METZ in Germany and Toshiba factory in Indonesia in 2015 Set-top Box ： Acquired STRONG MEDIA in Europe in September 2015 Geographical Distribution of Revenue# in Oversea
Slide 9: Segment Results by Major Business Segment
Segment Results by Major Business Segment Segment Results Segment Results Breakdown (Jan – Dec 2024) (RMB million) 3,043 -15.1% 3,000 Smart Household Smart Systems 2,583 Appliances Technology Business 873 Business 305 2,000 RMB New Energy 1,113 2.58 billion Business 1,181 1,000 170 511 Modern Servic
Slide 10: Gross Profit Margins
Gross Profit Margins (%) FY2024 FY2023 Change FY2022 Overall gross profit margin 13.5% 13.6%# (0.1 pp) 15.3% By region - Mainland China market 13.0% 13.7% (0.7 pp) 16.7% - Overseas markets 15.2% 15.1% 0.1 pp 12.5% By business segment Smart TV systems products 19.2% 19.3% (0.1 pp) 22.5% (Mainland Chi
Slide 11: Operating Expenses Analysis
Operating Expenses Analysis (% to revenue) FY2024 FY2023 Change FY2022 Selling and distribution 5.8% 5.0%* 0.8 pp 6.4% General and administrative 2.8% 2.8% -- 3.1% Research and development 3.2% 3.1% 0.1 pp 4.0% Total expense rate 11.8% 10.9%* 0.9 pp 13.5% Continue to devote resources to the R&D of
Slide 12: Competitive Advantage
02, COMPETITIVE ADVANTAGE
Slide 13: Smart TV Products: Continue to Enhance Product Competitiveness
Smart Household Appliances Business Smart TV Products: Continue to Enhance Product Competitiveness Q9E Revenue# from Smart TV Products Mainland (RMB million) +9.7% China 20,844 20,000 19,008 Overseas 8,115 15,000 7,949 10,000 12,729 5,000 11,059 0 Q8E A7E Pro FY2023 FY2024 • Launched a series of inn
Slide 14: Smart TV Products: FY2024 China TV Market
Smart Household Appliances Business Smart TV Products: FY2024 China TV Market Distribution of Market Share of Major Brands Sales Trends of Technical Products of China’s TV Market in FY2024 in China’s TV Market 30% 60% 58.9% 28% Offline Online 2022 2023 2024 26% 24% 50% 22% 21.0% 20% 40% 18% 16% 14%
Slide 15: Smart Appliances Products: Achieving Sustained Revenue Growth
Smart Household Appliances Business Smart Appliances Products: Achieving Sustained Revenue Growth Revenue# from Smart Appliance Products (RMB million) Mainland 10,000 +25.4% China 8,886 Overseas 7,500 7,088 2,748 1,943 5,000 6,138 2,500 5,145 0 FY2023 FY2024 • Sales performance of drum washing machi
Slide 16: Coocaa Technology: Reshaping Smart Audio-Visual Experience
Smart Household Appliances Business Coocaa Technology: Reshaping Smart Audio-Visual Experience Coocaa AIGC Large Model: Smart Short Video • Developed steadily in the internet value-added service market, based on the reliable and secure connection services, and mature and stable technology of the Coo
Slide 17: Smart Systems Technology Business
Smart Systems Technology Business Creating a Digital, Broadband, UHD, Smart and IoT Ecosystem Revenue# from Smart Systems Technology Business Mainland (RMB million) China -18.3% 10,413 Overseas 10,000 8,511 4,410 7,500 3,593 5,000 2,500 6,003 4,918 0 FY2023 FY2024 • Smart set-top boxes, broadband co
Slide 18: New Energy Business: A Pioneer in Sustainable Development
New Energy Business A Pioneer in Sustainable Development within the Industry Revenue# from New Energy Business (RMB million) 23,396 -13.1% 24,000 20,334 18,000 12,000 Guarantee safety for customers 6,000 0 One-stop customised clean energy Qualified EPC contractor FY2023 FY2024 solutions and comprehe
Slide 19: New Energy Business: Quality First and Prioritising Efficiency
New Energy Business Insisting on Quality First and Prioritising Efficiency Residential PV Industrial & Commercial PV Guarantee power generation income Multi-scenario solution • Two models of “Cooperative Construction” and “Operating Lease” • Newly released four industrial & commercial business model
Slide 20: New Energy Business: Photovoltaic Demand Remains Resilient
New Energy Business Photovoltaic Demand Remains Resilient • As of the end of 2024, cumulative installed PV capacity in China was 886.66GW, up approx. 45% YoY. In 2024, newly installed PV capacity in China jumped approx. 28% YoY to 277.57GW; among them, the newly installed capacity of distributed PV
Slide 21: Modern Services Business and Others
Modern Services Business and Others Continued to Enhance Mutual Empowerment among Business Units Skyworth Overseas Skyworth Semiconductor Skyworth Innovation Valley Development Tower Design Tower Industrial Park • Focus on supply chain management and promote strategic cooperation with major supplier
Slide 22: Environmental, Social and Governance: Maximising Sustainability Performance
Environmental, Social and Governance: Maximising Sustainability Performance Adhering to the Mission of “Dedicated to Creating a Better Life for Mankind”, Continuous Investment in the Development of Sustainable Products and Promoting a Green Lifestyle to Families Globally Skyworth’s Long-term Green I
Slide 23: Annual Prospect
ns eS 03 ANNUAL PROSPECT
Slide 24: Development Strategy: Deep Transformation and Comprehensive Breakthroughs
Development Strategy: Deep Transformation and Comprehensive Breakthroughs AI Internationalisation Innovation Strategy Deploy multi-modal Focus on products, markets, AI products and technologies supply chains and branding Strengthen in-house R&D capabilities Precise product strategies and and expand
Slide 25: Development Strategy: From Smart Appliances to Double Carbon Ecology
Development Strategy: From Smart Appliances to Double Carbon Ecology Upholding the Ecological Intelligence Concept of “Eco-smart”, To Create a Brand Image of “Green Intelligence, Low-Carbon Intelligence and Environmental Intelligence” Skyworth Zero-Carbon Smart Life/Home Solutions • Integrate Skywor
Slide 26: Thank You
THANK YOU For more information, please contact IR Department: ir@skyworth.com or visit the Company’s IR website (http://investor.skyworth.com)
Slide 27: Inventories and Cash Flow
Appendix 1 Inventories and Cash Flow (RMB million) 31.12.2024 31.12.2023 Change 31.12.2022 Inventories 10,829 9,894 9.5% 8,947 - Finished goods 6,284 3,918 60.4% 3,380 Inventories turnover period (days) 69 60 9 71 Bills receivables 2,343 1,769 32.4% 1,990 - On hand 2,343 1,769 32.4% 1,978 - Discount
Slide 28: Financial Position
Appendix 2 Financial Position (RMB million) 31.12.2024 31.12.2023 Change 31.12.2022 Current bank borrowings 9,387 8,218 14.2% 9,404 Non-current bank borrowings 6,918 7,097 (2.5%) 5,853 Total bank borrowings 16,305 15,315 6.5% 15,257 - Secured 4,325 5,355 (19.2%) 5,758 - Unsecured 11,980 9,960 20.3%
Slide 29: Key Financial Indicators
Appendix 3 Key Financial Indicators (RMB million) 31.12.2024 31.12.2023 Change 31.12.2022 Current assets 49,722 46,677 6.5% 46,426 Current liabilities 37,334 35,428 5.4% 35,527 Net current assets 12,388 11,249 10.1% 10,899 Non-current assets 20,286 20,484 (1.0%) 17,984 Non-current liabilities 9,536
Slide 30: Demonstrating Leading Industrial Innovation
Appendix 4 Demonstrating Leading Industrial Innovation Cumulative no. of municipal science and technology progress awards: 56 Cumulative no. of national and provincial science and technology innovation centres: 44 Ranked among the Fortune China 500 List for 15 consecutive years, ranking 272nd Great
Slide 31: Demonstrating Leading Industrial Innovation
Appendix 4 Demonstrating Leading Industrial Innovation 31 31
Slide 32: From Smart Appliances to Double Carbon Ecology
Appendix 5 From Smart Appliances to Double Carbon Ecology 1 TV 2 Coocaa IoT Platform 3 Set-top Box 4 Access System 5 PV Power Generation 6 Energy Storage System 7 Refrigerator & Washing Machine 8 Air Conditioner 9 Kitchen System 10 New Energy Vehicles 11 Charging Station System * Mr. Wong Wang Sang,