| 釋義 | 2 | | --- | --- | | 董事長報告書 | 4 | | 公司資料 | 7 | | 管理層討論與分析 | 8 | | 企業管治報告 42 | | | 董事、監事、高級管理人員簡介 67 | | | 董事會報告 70 | | | 監事會報告 110 | | | 按中國企業會計準則編製的報表 113 | | 釋義 本公告以中英文刊登，如中英文版本有任何歧義，以中文版為準。 在本報告中，除非文意另有所指，下列詞語或詞組具有如下含義： | 公司章程 | 指 | 本公司現行有效的公司章程 | | --- | --- | --- | | 我們，本公司，公司， | 指 | 海信家電集團股份有限公司，一家在中國註冊成立的股份有限公司，其 | | 海信家電 | | 股份於香港聯交所主板及深圳證券交易所上市 | | 海信空調 | 指 | 青島海信空調有限公司，一家在中國註冊成立的有限公司，由海信集團 | | | | 間接控制，持有本公司已發行股份約37.28% | | 海信財務 | 指 | 海信集團財務有限公司，一家在中國註冊成立的有限公司，為海信集團 | | | | 的附屬公司 | | 海信集團 | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而産生或 因倚賴該等內容而引致的任何損失承擔任何責任。 HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司 （在中華人民共和國註册成立的股份有限公司） (股份代號：00921) 2025 年第一季度報告 海信家電集團股份有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及附屬公司截 至2025年3月31日止三個月未經審計的業績（「2025年第一季度報告」）。本公告乃根據《證券 及期貨條例》（第571章）第XIVA部及香港聯合交易所有限公司證券上市規則第13.09條和第 13.10B條之規定作出。 一、重要提示 二、主要財務數據 （一）主要會計數據和財務指標 公司是否需追溯調整或重述以前年度會計數據 （三）主要會計數據和財務指標發生變動的情况及原因 1 1. 本公司董事會、監事會及董事、監事、高級管理人員保證本報告所載資料不存在虛假記 載、誤導性陳述或者重大遺漏，並對其內容的真實、準確和完整承擔個別及 ...

Financial Performance - The total operating revenue for the year 2024 reached RMB 92.75 billion, an increase of 8.5% compared to RMB 85.60 billion in 2023[7]. - The total operating costs for 2024 were RMB 88.81 billion, up from RMB 81.46 billion in 2023, reflecting a growth of 9.5%[7]. - The net profit attributable to the parent company for 2024 was RMB 11.30 billion, up from RMB 9.36 billion in 2023, showing a growth of 20.8%[6]. - Operating profit for the period was RMB 5,679,142,269.33, an increase from RMB 5,248,016,394.49 in the previous period, representing a growth of approximately 8.2%[8]. - Total profit amounted to RMB 5,966,389,023.89, compared to RMB 5,684,557,420.82 in the prior period, reflecting an increase of about 5.0%[8]. - The net profit attributable to shareholders of the parent company reached RMB 3,347,881,773.89, up from RMB 2,837,322,754.58, indicating a growth of approximately 18.0%[9]. - Basic and diluted earnings per share were both RMB 2.46, compared to RMB 2.08 in the previous period, marking an increase of around 18.3%[9]. - The total comprehensive income attributable to the parent company's owners was RMB 3,321,630,998.81, compared to RMB 2,943,053,128.82, showing an increase of about 12.8%[9]. - The company reported a decrease in other comprehensive income after tax, with a net amount of RMB -10,567,861.70 compared to RMB 107,901,029.90 in the previous period[9]. - The net profit for the year was RMB 5.97 billion, a rise from RMB 5.68 billion in 2023, indicating a growth of 5.1%[17]. - The company's total assets increased by 5.69% year-on-year to approximately RMB 69.70 billion by the end of 2024[6]. - The company's debt-to-asset ratio increased to 72.20% as of December 31, 2024, compared to 70.59% in 2023[117]. Research and Development - Research and development expenses increased significantly to RMB 3.45 billion in 2024, compared to RMB 2.78 billion in 2023, marking a rise of 24%[7]. - The company aims to enhance product competitiveness through breakthroughs in core technologies and innovative design[109]. - The company is committed to a digital transformation of its manufacturing processes, utilizing AI to enhance smart manufacturing capabilities and reduce costs[111]. Market Expansion and Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[7]. - The company aims to enhance profitability by aggressively developing overseas markets and leveraging its resources, including overseas R&D centers and talent support[110]. - The company plans to strengthen its brand and marketing capabilities to boost domestic sales, particularly through sponsorship of the World Cup, aiming to increase market share in mid-to-high-end products[110]. - The company is focused on expanding its international marketing efforts through Hisense International Marketing Co., Ltd.[126]. Product Performance and Innovation - The company is engaged in the research, manufacturing, and marketing of various home appliances, including refrigerators and air conditioning systems, indicating a focus on product innovation and market expansion[12]. - Hisense's new air conditioning products achieved the highest sales volume and revenue in the industry for 2024, with the C3 series leading the market[61]. - The washing machine segment achieved a global shipment ranking of third in China and the fastest growth among the top 10 brands[69]. - Hisense's kitchen appliance business achieved a year-on-year growth of 72%, with high-end product sales increasing by 110%[71]. - The "Brilliant" high-end series saw a year-on-year growth of 52%, with a 120% increase driven by the trade-in policy[76]. Financial Management and Risks - The company faces risks from macroeconomic fluctuations, rising costs, currency exchange rate volatility, and trade protectionism, which could impact demand and profitability[112]. - The company has implemented financial instruments to hedge against currency exchange rate risks associated with foreign currency transactions[115]. Dividend and Shareholder Information - The board proposed a cash dividend of RMB 12.30 per 10 shares, subject to approval at the 2024 annual general meeting, with a total distribution of approximately RMB 1,703,875,332.54[113][114]. - Hisense achieved a significant market presence with approximately 37.28% of shares held by Hisense Air Conditioning[126].

Financial Performance - The operating revenue for the third quarter of 2024 was RMB 21,937,415,143.08, representing a decrease of 0.08% compared to the same period last year[4]. - The net profit attributable to shareholders was RMB 777,159,401.39, down 16.29% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 586,117,603.68, a decrease of 26.67% compared to the previous year[4]. - The basic earnings per share for the quarter was RMB 0.57, reflecting a decline of 17.39% year-on-year[4]. - The weighted average return on equity was 5.37%, down 1.94 percentage points from the previous year[4]. Assets and Equity - The total assets at the end of the reporting period amounted to RMB 68,561,423,626.50, an increase of 3.97% from the end of the previous year[4]. - The equity attributable to shareholders was RMB 14,791,920,303.42, up 8.92% compared to the end of the previous year[4]. Cash Flow - The net cash flow from operating activities for the year-to-date was RMB 5,207,590,143.69, showing a significant decrease of 40.15% year-on-year[4]. - Cash flow from operating activities decreased by 40.15% to approximately ¥5.21 billion, influenced by inventory stocking patterns and increased performance bonuses[8]. - Cash received from other investment activities increased by 84.39% to approximately ¥25.62 billion, mainly due to the maturity of financial products[8]. - Cash flow from financing activities showed a net outflow of approximately ¥4.52 billion, primarily due to loan repayments and stock buybacks[8]. Receivables and Investments - Accounts receivable decreased by 32.23% to approximately ¥502.63 million due to a reduction in commercial acceptance bills[7]. - Financing receivables increased by 30.14% to approximately ¥6.04 billion, primarily due to an increase in bank acceptance bills[7]. - Other receivables surged by 167.59% to approximately ¥390.15 million, mainly due to increased dividend receivables from subsidiaries[7]. - Investment properties rose by 51.74% to approximately ¥270.07 million, attributed to an increase in apartments rented out by subsidiaries[7]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 28,738, with the top ten shareholders holding significant stakes[9]. - Qingdao Hisense Air Conditioning Co., Ltd. held 37.28% of shares, while Hong Kong Central Clearing (Agent) Ltd. held 33.11%[9]. - The controlling shareholder, Hisense (Hong Kong) Co., Ltd., holds 124.45 million H shares, accounting for 8.98% of the total shares of the company[11]. - There were no changes in the participation of major shareholders in the securities lending business compared to the previous period[12]. Corporate Governance - The company has not made any retrospective adjustments or restatements of previous years' accounting data[3]. - The company’s board of directors includes six executive directors and three independent non-executive directors as of the announcement date[13]. Future Plans - The company plans to continue expanding its investment in long-term assets, as indicated by a 64.29% increase in cash paid for fixed assets and intangible assets[8].

Market Performance - In the first half of 2024, the central air conditioning market in China saw a decline of 5% in overall market capacity, with multi-split systems accounting for nearly 50% of the market share [5]. - The retail volume of the air conditioning market decreased by 10.8% year-on-year, while the retail value dropped by 13.7% in the same period [6]. - The domestic refrigerator market experienced a retail volume increase of 0.8% and a retail value increase of 0.4% in the first half of 2024 [7]. - The washing machine market saw a retail volume growth of 6.2% and a retail value growth of 3.8% in the first half of 2024 [8]. - The export volume of refrigerators increased by 23%, washing machines by 22%, and air conditioners by 30% in the first half of 2024 compared to the previous year [12]. Smart Home Appliances - The smart home appliance market showed significant growth, with retail sales of smart major appliances, smart kitchen appliances, and smart environmental appliances increasing by 5.3%, 4.8%, and 15.7% respectively [11]. - The penetration rate of offline fresh air air conditioners reached 8.6%, marking a year-on-year increase of 0.6% [6]. - The online retail volume of refrigerators on Douyin e-commerce grew by 52.5% year-on-year, indicating a rapid growth in new online channels [7]. - The demand for embedded refrigerators has been increasing, with offline retail volume penetration rising from 9.5% in 2021 to 37.8% in 2024 [7]. Financial Performance - The company's revenue for the reporting period reached ¥48.64 billion, a year-on-year increase of 13.27% compared to ¥42.94 billion in the same period last year [43]. - Net profit attributable to shareholders was ¥2.02 billion, reflecting a significant year-on-year growth of 34.61% from ¥1.50 billion [43]. - The company achieved a 48% year-on-year revenue growth in the high-end product series during the first half of 2024, with 383 new experiential zones established [30]. - The company's gross margin improved by 2.5 percentage points year-on-year in the first half of 2024 [29]. - The company reported a significant increase in R&D expenses, totaling CNY 1.64 billion, which is a 32.2% rise from CNY 1.24 billion in the previous year [116]. Operational Efficiency - The company improved manufacturing efficiency, with a 5.3% year-on-year increase in UPPH and a 4.4% reduction in manufacturing costs per unit [29]. - The company’s inventory turnover improved by 12% in the first half of 2024, enhancing capital efficiency [29]. - The company has automated operations, replacing over 1,700 positions, and improved labor costs by 11% year-on-year [39]. - The company aims to improve operational efficiency and reduce costs in the upcoming quarters [125]. Research and Development - The company is transitioning from a compressor supplier to a comprehensive thermal management system supplier for new energy vehicles, with continuous improvements in product development [27]. - The company has established over 20 provincial and national-level technology innovation platforms, including a national-level enterprise technology center and a post-doctoral research workstation [68]. - The company has achieved international leadership in noise control technology for household air conditioners, enhancing user experience [69]. - The company has been actively involved in the research and development of smart home solutions, enhancing its product offerings in the HVAC and home appliance sectors [132]. Market Expansion and Strategy - The company plans to enhance its global supply chain and expand overseas markets, focusing on integrating R&D centers and local business operations [42]. - The company aims to leverage its strong capital reserves for potential acquisitions to enhance its market share [132]. - The company is exploring potential mergers and acquisitions to strengthen its market position [125]. - The market expansion strategy includes targeting emerging markets, which is expected to contribute to a 25% increase in overall sales [128]. Shareholder and Governance - The company has a total of 25,399 shareholders as of June 30, 2024 [87]. - The company repurchased 13,915,968 shares from January 17, 2024, to July 23, 2024, accounting for 1.00% of the total share capital, with a total transaction amount of RMB 343,418,332.75 [96]. - The company has adopted a 2024 A-share employee stock ownership plan involving up to 13,916,000 shares, with 735,918 A-shares available for future grants [102]. - The company confirmed that all directors and supervisors adhered to the securities trading code during the reporting period [95]. Risks and Challenges - The company faces risks from macroeconomic fluctuations, rising costs, trade protectionism, and exchange rate volatility [74]. - The company reported a decrease in cash and cash equivalents by RMB 127,424,266.33, compared to an increase of RMB 138,885,445.53 in the previous year, indicating cash flow challenges [47]. - The company has not engaged in any asset or equity acquisitions or disposals during the reporting period [76]. Accounting and Financial Reporting - The financial statements are prepared in accordance with Chinese accounting standards [107]. - The group follows the principle of materiality in preparing and disclosing financial statements [139]. - The group recognizes revenue when control of goods or services is transferred to customers, primarily through sales of products [198]. - The group assesses credit risk for financial assets at each reporting date to determine if there has been a significant increase in credit risk since initial recognition [161].

Financial Performance - Total operating revenue for the first half of 2024 reached RMB 48.64 billion, a 13.5% increase from RMB 42.94 billion in the same period of 2023[6]. - Total operating costs increased to RMB 46.21 billion, up 14.1% from RMB 40.47 billion year-over-year[7]. - Operating profit for the first half of 2024 was RMB 3.36 billion, representing a 20.9% increase compared to RMB 2.78 billion in the first half of 2023[7]. - Net profit for the first half of 2024 was RMB 3.03 billion, a 21.9% increase from RMB 2.49 billion in the same period of 2023[7]. - Basic earnings per share for the first half of 2024 were RMB 1.48, compared to RMB 1.09 in the first half of 2023, reflecting a 36% increase[8]. - The company's profit for the period was RMB 3.50 billion, compared to RMB 2.96 billion in the previous year, marking a growth of 17.9%[14]. - Net profit attributable to shareholders was ¥2,015,831,383.14, reflecting a growth of 34.61% from ¥1,497,562,724.59 year-on-year[73]. Assets and Liabilities - As of June 30, 2024, the total assets of Hisense Home Appliances Group amounted to RMB 70.72 billion, an increase from RMB 65.95 billion as of January 1, 2024, representing a growth of approximately 7.5%[4]. - The total current assets reached RMB 49.93 billion, up from RMB 45.14 billion, indicating a growth of about 10.5%[4]. - The total liabilities increased to RMB 51.71 billion from RMB 46.55 billion, which is an increase of about 11.6%[5]. - The company's equity attributable to shareholders reached RMB 14.16 billion, up from RMB 13.58 billion, showing a growth of approximately 4.3%[5]. - The company's debt-to-asset ratio as of June 30, 2024, is 73.12%, slightly down from 73.38% on June 30, 2023[85]. Revenue Breakdown - The company's main business income was RMB 43.53 billion, up from RMB 38.70 billion year-on-year, reflecting a growth of 12.3%[20]. - Domestic revenue for the first half of 2024 was RMB 25.33 billion, compared to RMB 24.47 billion in the same period of 2023, indicating a growth of 3.5%[16]. - Overseas revenue increased significantly to RMB 18.21 billion, up 28.0% from RMB 14.24 billion year-on-year[16]. - The overseas white goods business generated revenue of 14.78 billion yuan, a year-on-year increase of 36.91%[61]. Market Trends - The domestic central air conditioning market saw a 5% decline in overall market capacity in the first half of 2024, indicating a shift from growth to upgrading in the industry[32]. - The retail volume of the home air conditioning market decreased by 10.8% year-on-year in the first half of 2024, with retail sales value down by 13.7%[33]. - The domestic refrigerator market experienced a retail volume increase of 0.8% and a retail value increase of 0.4% in the first half of 2024, indicating a slight recovery in demand[35]. - The washing machine market in China saw a retail volume increase of 6.2% year-on-year, with retail sales growing by 3.8%[36]. - The kitchen appliance market experienced a retail volume growth of 0.5% year-on-year, but retail sales declined by 2.3%[37]. Research and Development - Research and development expenses rose to RMB 1.64 billion, up 32.2% from RMB 1.24 billion in the first half of 2023[7]. - The company is actively involved in the development of new technologies and products, enhancing its competitive edge in the market[96]. - The company aims to enhance operational quality by focusing on user needs, strengthening R&D capabilities, and optimizing sales structure[82]. Strategic Initiatives - The company has plans for market expansion and new product development, although specific figures were not disclosed in the report[2]. - The company is focusing on energy-saving renovation projects as a new development opportunity in the central air conditioning sector, driven by government initiatives[32]. - The company is committed to advancing its manufacturing strategy, enhancing lean production systems, and improving automation levels across factories[72]. - The company is poised for future growth, leveraging its strong market position and innovative product pipeline[96]. Shareholder Returns - The company approved a final dividend of RMB 10.13 per 10 shares for the year ending December 31, 2023, totaling approximately RMB 1.4 billion distributed to shareholders[31]. - The company did not declare an interim dividend for the reporting period, consistent with the previous year[31]. Risks and Challenges - The company faces risks from macroeconomic fluctuations and rising costs of raw materials, which could impact consumer demand for home appliances[81]. - The company faced risks from rising labor and shipping costs, which could negatively impact profitability[82]. Operational Efficiency - The company improved manufacturing efficiency, with a 2.3% year-on-year reduction in absolute work hour losses and a 10% improvement in accounts receivable turnover[58]. - The company improved its inventory turnover days by 6.5% year-on-year, enhancing supply chain efficiency amid increasing credit risks[71].

股 票 研 究 [Table_industryInfo] 家用电器业 [ Table_Main[海I Tnaf 信bol]e 家_Ti电tle]（ 0921） [评Tab级le_：Inv est] 增持 当前价格（港元）： 33.80 出口业务高增，业绩改善再超预期 2024.05.06 海 ——海信家电 2024Q1 季报点评 [ 交Ta易bl数e_M据a rket] 外 蔡雯娟(分析师) 谢丛睿(分析师) 曲世强(研究助理) 52周内股价区间（港元） 15.48-33.80 当前股本（百万股） 1,388 公 021-38031654 021-38038437 021-38031025 当前市值（百万港元） 46,912 司 caiwenjuan024354@gtjas.co xiecongrui@gtjas.com qushiqiang028674@gtjas.co （ 证书编号 mS0 880521050002 S0880523090004 mS0 880123070132 [ Table_PicQuote] 中 本报告导读： 52周内股价走势图 国 公司 2024 年 Q1业绩超预期，出口业务贡献收 ...

Hisense 海信家電 海 信 家 電 集 團 股 份 有 限 公 司 Hisense Home Appliances Group Co., Ltd. 股份代號: 000921 ( A股 ) 00921 （ H股 ) 璀璨·高端智能套 系 家电 2023 #報 目錄 | --- | --- | |--------------------------------|-------| | | | | 釋義 ........ -- | 2 | | 董事長報告書 ....... | 4 | | 公司资料 | 9 | | 管理層討論與分析 | 10 | | 企業管治報告 | 41 | | 董事、監事、高級管理人員簡介 . | 64 | | 董事會報告 | 67 | | 監事會報告 | | | | | 按中國企業會計準則編製的報表 . ...... . 110 m) 釋義 公司章程 指 本公司現行有效的公司章程 我們，本公司， 公司，海信家電 指 海信家電集團股份有限公司，一家在中國註冊成立的股份有限公司，其 股份於香港聯交所主板及深圳證券交易所上市 海信空調 指 青島海信空調有限公司，一家在中國註冊成立的有限公司，由海 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而産生或 因倚賴該等內容而引致的任何損失承擔任何責任。 HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司 （在中華人民共和國註册成立的股份有限公司） (股份代號：00921) 2024年第一季度報告 海信家電集團股份有限公司（「本公司」）董事會（「董事會」）謹此公佈本公司及附屬公司截 至2024年3月31日止三個月未經審計的業績（「2024年第一季度報告」）。本公告乃根據《證券 及期貨條例》（第571章）第XIVA部及香港聯合交易所有限公司證券上市規則第13.09條和第 13.10B條之規定作出。 一、重要提示 1、本公司董事會、監事會及董事、監事、高級管理人員保證本報告所載資料不存在虛假記載、 誤導性陳述或者重大遺漏，並對其內容的真實、準確和完整承擔個別及連帶法律責任。 2、本公司負責人代慧忠先生、主管會計工作負責人高玉玲女士及會計機構負責人李佳女士聲 明：保證季度報告中財務信息的真實、準確、完整。 ...

股 票 研 究 [Table_industryInfo] 家用电器业 [ Table_Main[海I Tnaf 信bol]e 家_Ti电tle]（ 0921） [评Tab级le_：Inv est] 增持 当前价格（港元）： 25.65 Q4 经营利润持续改善，24 年增长依旧确定 2024.04.05 海 ——海信家电 2023 年报点评 [ 交Ta易bl数e_M据a rket] 外 蔡雯娟(分析师) 谢丛睿(分析师) 曲世强(研究助理) 52周内股价区间（港元） 13.60-25.75 当前股本（百万股） 1,388 公 021-38031654 021-38038437 021-38031025 当前市值（百万港元） 35,601 司 caiwenjuan024354@gtjas.co xiecongrui@gtjas.com qushiqiang028674@gtjas.co （ 证书编号 mS0 880521050002 S0880523090004 mS0 880123070132 [ Table_PicQuote] 中 本报告导读： 52周内股价走势图 国 公司 2023年业绩符合预期，公司传统白 ...