2025 Annual Results

SKYWORTH GROUP LIMITED

Stock Code: 00751.HK

27 March 2026

Smart Household Appliances Business

Smart Systems Technology Business

• Smart TV

• Smart white appliances

• Other smart appliances

• Internet connection services of

  Coocaa system

• Smart set-top boxes and solutions

  
  
  

• Broadband network communication connection equipment

• XR/AI glasses

• Integration systems for automotive

  display

• Industrial control display module and IoT businesses

• Other operational services

  Modern Services Business

  New Energy Business

  
  
  

• Maintenance & repair for home appliances

• Macro-logistics services

• International trades

• Construction development

• Financial lease

• Property operation for industrial parks

• Sale and installation of distributed PV power stations

• Provision of intelligent operation

and maintenance services

Four Key Business Sectors

FY 2025

Results Highlights

R&D centres

15

Intelligent manufacturing bases

27

Accumulated patents

>15,000

Business distribution

>120 countries & regions

Service outlets

>20,000

The Choice of 400 Million Families

數據來源 Source: 創維集團2016-2024年主要 家電產品銷售數量

Sales volume of Skyworth Group's major home appliances from 2016 to 2024

Overall Results

# Selling and distribution expenses of RMB243 million for the year ended 31 December 2023 has been reclassified to cost of sales to conform to the current year's presentation

6

Revenue by Major Business Segment

Revenue (Post-Tax) FY2025 Revenue Breakdown

(RMB million)

Modern Services

Business and Others*

Smart Household

Appliances Business

Smart Systems

Technology Business

12.1%

50.6%

33.6%

3.7%

New Energy

Business

+8.2%

65,013

2,841

70,324

2,604

23,610

20,270

8,495

8,509

33,407

35,601

80,000

60,000

40,000

20,000

0

FY2024 FY2025

Revenue in Overseas Markets

Integrating Stringent Quality Standards to Create the Skyworth Standards

TV： Acquired SINOTEC in Africa in 2014, acquired METZ in Germany and Toshiba factory in Indonesia in 2015,

established a strategic partnership with Panasonic in 2026 Set-top Box ： Acquired STRONG MEDIA in Europe in 2015

Geographical Distribution of Revenue* in Overseas Markets

FY2024

FY2025

51%

45%

24%

21%

21%

15% 11%

9%

2%

1%

80%

60%

40%

20%

0%

Asia Americas Europe Africa Oceania

• FY2025: Revenue from overseas markets amounted to approx. RMB18.34 billion (FY2024: approx. RMB15.76 billion), accounting for 26.0% of

the Group's overall revenue

Segment Results by Major Business Segment

Segment Results

(RMB million)

1,400

1,200

1,000

800

600

400

200

0

New Energy Business

Modern Services Business and Others*

-29

-34

(34)

(29)

• Total segment results for FY2025 was approx. RMB2.15 billion (FY2024: approx. RMB2.58 billion), a YoY decrease of approx. 16.8%

• Smart systems technology business: recorded YoY decrease in overall profitability and product gross profit margin due to the competitive market environment

  
  
  

• Modern services business: impacted by the prolonged downturn and weak sales in Mainland China's property market, the construction development business continued to face significant challenges. Increased impairment provision for the related property inventories in accordance with accounting standards, which mainly reflected the Group's prudent response to the prevailing economic environment

  (200)

  170

(200)

FY2024 FY2025

Revenue* from Major Products/Businesses

FY2025

FY2024

0

4,934

4,918

6,000

4,000

2,000

3,589

3,593

8,000

8,523

8,511

+0.1%

10,000

Smart Systems Technology Business

(RMB million)

New Energy Business

(RMB million)

+16.5% 23,685

24,000

20,334

20,000

16,000

12,000

8,000

4,000

0

FY2024 FY2025

Smart Appliances Business

(RMB million)

12,000

+16.9%

10,385

10,000

8,886

8,000

3,407

2,748

6,000

4,000

6,138

6,978

2,000

0

FY2024

FY2025

Smart TV Products

(RMB million)

24,000

20,000

16,000

20,844

8,115

+3.9%

21,666

9,885

12,000

8,000

4,000

12,729

11,781

0

FY2024 FY2025

Mainland China Overseas Mainland Chine + Overseas

Gross Profit Margins

# Selling and distribution expenses of RMB243 million for the year ended 31 December 2023 has been reclassified to cost of sales to conform to the current year's presentation

Operating Expenses Analysis

# Selling and distribution expenses of RMB243 million for the year ended 31 December 2023 has been reclassified to cost of sales to conform to the current year's presentation

12

The Choice of 400 Million Families

數據來源 Source: 創維集團2016-2024年主要 家電產品銷售數量

Sales volume of Skyworth Group's major home appliances from 2016 to 2024

Smart Household Appliances Business

Smart TV Products: Steadfast Commitment to Innovation and User-centric

Differentiated Product Positioning and AI-driven Innovation

Enhancing User Experience and Increase Brand Influence

• Starting from the users' needs, launched a series of innovative products, including Smart Mini LED TV G7F Pro, the world's first ultra-black wide-angle paper-like screen audio-visual TV A5F Pro, the industry's first built-in AI TV G6F, the Black Knight A5F Mini Series focusing on healthy viewing, and several high-performance monitor products

• Actively advanced the R&D and application of cutting-edge AI algorithms, including the AI smart light engine, AI omni-dimensional perception system, AI visual display algorithm and AI panoramic preference system

• Focusing on the core value of TVs and user's experience, strived to make innovation and breakthroughs in high image quality, high sound quality, home-integrated design, high-performance connectivity, system software and other technologies

• In overseas markets, sales scale and market share continued to increase through product differentiation, precision marketing and channel. An omnichannel approach accelerated user acquisition and

  market penetration. By obtaining the exclusive trademark license for the Philips brand in North America, the North American business achieved leapfrog growth

  Skyworth 10th Generation

  Wallpaper TV

  A7H Pro

  Metz Classic Primus

  Ultra-thin Body

  Frame design

  Seamless wall mounting

  
  
  

  Smart Household Appliances Business

  
  
  

  Smart Appliances Business: Striving to Build a Full-scenario Product Portfolio

  Focusing on "Full-category, Multi-channel" Strategy

  Continuously Strengthen R&D Efforts and Technological Innovation

  
  
  

• Focus on three core pillars: ultra-thin and flat design, AI intelligence, and health-focused sterilisation, continuously leveraging R&D and technological innovation strengths

• Sales performance of drum washing machines and air conditioners

  remained robust in 2025

• Continued to intensify R&D and development effort and enhance product competitiveness, providing customers with high-performance, high-quality and cost-effective, and environmentally friendly products

• Smart personal care segment: capturing the needs of younger consumers through a focus on premiumisation, youth-oriented design and smart innovation

• Skyworth shavers and other personal care products have reached a larger scale of young users with their exceptional product strength and favourable price-to-quality ratio. Skyworth shavers' cumulative sales exceeded 10 million units

  
  
  

  Smart Household Appliances Business

  Coocaa's Large Content

  
  
  

  Coocaa Technology: Reshaping Smart Audio-Visual Experience

  Dedicated to Deepening the R&D and

  Application of AI technologies

  
  
  

• Developed steadily in the internet value-added service market, based on the reliable and secure connection services, and mature and stable technology of the Coocaa system

  Coocaa Super AI Agents

  Fast, accurate and direct intelligent user experience

  
  
  

• Building on advanced AI recommendation algorithms, AIGC technology and robust automated intelligent operation platform, significantly enhanced users' audio-visual experience through the application of smart poster and smart short video edit technologies

• Based on large model AI technology, the functional experience of TVs has been enhanced in terms of voice dialogue, child education and content search

• Launched Coocaa Super AI Agents (酷開超級智能體) that covered six major scenarios (audio and video, education, health, creation, lifestyle, device), which is the China's first intelligent system evaluated by the China Telecommunication Technology Laboratory of the China Academy of Information and Communications Technology to reach the "excellent" level in full-chain technical capabilities

  
  
  

  Smart Systems Technology Business

  
  
  

  Focusing on Core Technology Breakthroughs and Product Iterative Innovation

  Deepen Innovation and Value Enhancement in Core Businesses

  Steadily Enhancing Integrated Supply Service Capabilities

  
  
  

• To establish differentiated advantages through technological innovation and service improvement

• Increased market share and continued to strengthen system architecture planning and R&D capabilities

• Focused on the in-depth advancement of globalisation strategy through diversified market expansion. Addressed the unique needs of different regional markets with customised product portfolios and solutions

• In 2025, launched the Group's first full-scenario Smart Glasses, won the bid for the "Guangdong Provincial Broadcasting and Television Network Co., Ltd. Smart TV Butler (Digital Human) System Project". Skyworth's smart hub ranked first in the bidding for Shanghai Mobile Smart Hub Procurement Project

• The automotive in-vehicle professional display business achieved remarkable growth in production and sales in 2025, securing significant market expansion breakthroughs

  
  
  

  New Energy Business

  Driving Innovation and Growth across the Entire Industrial Chain

  
  
  

  Aiming to Meet Higher Green Building Standards

  Introduced the industry's first BIPV product which perfectly aligns "user demands + product functionality," offering users a PV product that combines profitability, practicality and aesthetic appeal

  Adapting to Diverse Application Scenarios

• Built an smart energy system integrating development, design, construction, operation, management and consulting services for power stations, and has expanded into R&D and manufacture of PV brackets, modules, inverters and energy storage businesses, improving comprehensive strength in all aspects

• By delivering "reliable, high-quality products + constructing power

  "Art House"

  (藝墅家)

  "Plug-in Solar"

  (能亮站)

  
  
  

  stations of the highest standards + self-developed smart operation and maintenance system + real-time digital management," the Group has comprehensively enhanced power generation efficiency and system stability

• Jointly established the "Photovoltaic Storage + Joint Research Centre" with Tianjin University, transforming the advanced experiences into practical knowledge

• Established a multi-party collaborative network involving "Industry + Academia + Research + Finance" through strategic partnerships, ensuring long-term capital support and a full-spectrum material supply chain

  Offered customised products that comprehensively cover the needs of the industrial and commercial market and construction scenarios, striving to achieve social and economic benefits

  "Zero Carbon Park" (零碳園) "Zero Carbon Zone" (零碳吧)

  "Golden Dragon Scale" (金龍鱗) "Green Stations" (綠行驛站)

  18

  
  
  
  
  

  New Energy Business

  Building the Future Energy Ecosystem

  
  
  

  Actively Expanding Presence across the Upstream

  and Downstream PV Industry Chain

  Strengthening Industrial Synergies

  Guarantee safety for customers

• Entered into investment agreements with Zhejiang Aixu Solar and the Baise Government. Through investing in the PV project, the Group will be able to quickly deploy high-efficiency solar cell and module production and manufacturing capabilities, enhance product technical barriers and product premium capabilities in the market, and create differentiated products for the high-end market

• Launched the "SKYLINK" (羲寰) ecological platform: an open and intelligent energy ecosystem integration platform. Its core function is to aggregate distributed energy nodes and enable optimal dispatch and precise matching of clean power through AI algorithms, breaking down traditional energy system barriers

• Advancing global expansion through the dual-brand of "Solavita" and

  "Skyworth", with multi-models and multi-business strategies

  
  
  

  One-stop customised clean energy solutions and comprehensive services

  
  
  

  Qualified EPC contractor

  
  
  
  
  

  Modern Services Business and Others

  Continued to Enhance Mutual Empowerment among Business Units

  
  
  
  
  

  Skyworth Overseas Development Tower

  Skyworth Semiconductor

  Design Tower

  Skyworth Innovation Valley

  Industrial Park

  
  
  

  • Focus on supply chain management and promote strategic cooperation with major suppliers to provide diversified services

  • In terms of capital operation, expanded the financing channels by leveraging on the advantages of the "integrated foreign and domestic currency capital pools for multinational companies" ( 跨國公司本外幣一體化資金池 ) approved by the State Administration of Foreign Exchange

  • Leveraging the organisational strength of the enterprise to enhance mutual empowerment among business units, and provide supports and empower synergies for the Group's scientific research, investment, production, procurement and construction