In the 2015/16 financial year, Skyworth Digital gave a brilliant financial report. According to the announcement, Skyworth Digital’s sales amounted to HK$42.695 billion, an increase of 6.4% from the previous fiscal year, of which television products accounted for 70.5% of sales and digital set-top boxes accounted for 13.8%.
Excluding the one-time gains from the previous financial year, the actual profits of Skyworth Digital (0751.HK) and the equity holders of the company last year increased by 27.1% and 22.9% respectively from last year.
HK$9.363 billion, eye-catching gross profit indicator
It is worth noting that Skyworth Group has always taken profitability as the main focus when formulating its sales strategy. Therefore, under the environment of sluggish domestic color TV market, Skyworth continued to record a gross profit of HK$9.363 billion last year, a year-on-year increase of 16.7%. The gross profit margin was 21.9%, an increase of 1.9 percentage points year-on-year.
According to the sofa Xiao Bian observation, this is mainly due to the further strengthening of the high-end and intelligent product structure transformation of Skyworth last year, especially the promotion of OLED organic TV strategy, which makes the company’s sales of intelligent and 4K color TV products further increase, and 4K intelligence. The gross profit margin and average selling price of TVs are among the highest in all TV series of Skyworth.
Affected by the annual results, Hong Kong stocks Skyworth Digital (0751.HK) closed at HK$5.41 on Wednesday (June 15th), soaring 9.959%, ​​once soaring to as high as 5.44 Hong Kong dollars.
A number of big banks are bullish and the color TV business is strong
Macquarie suggests that investors can pay attention to Skyworth's product mix improvement and overseas market expansion. The bank raised its earnings forecast for Skyworth in 2017 and 2018 by 3%, respectively, to reflect the company’s overseas expansion and reiterated its “neutral†rating.
Macquarie believes that Skyworth will continue to develop overseas in the coming quarters. The overseas acquisitions made by the company in the past few years are an effective way to enhance overseas business.
CICC also pointed out in its research report that Skyworth China's color TV business has strong competitiveness and its market share has steadily increased. In 2015, Skyworth's sales volume increased by 12.3% year-on-year, which was a sign of market success.
CICC continued to point out that Skyworth’s color TV business in the Mainland market gross profit margin was 24.8%, which was a 2.7 percentage point year-on-year increase and surpassed its peers, Hisense for the first time. Although the market is concerned about the decline in the average selling price of color TVs, the cost has also declined; In the case of LeTV’s crazy price cuts, Skyworth still achieved a simultaneous increase in market share and profits.
The bank also raised 6% and 8% earnings per share for Skyworth's 2016/17 and 2017/18 fiscal year, with a target price of HK$7, and maintains a “Convinced Buy†rating.
The highest standard OLED TV gradually replaces LED TV
Regarding OLED organic TV growth strategy, in the 2015/16 financial report, Skyworth Digital stated that the management of the Group believes that OLED TVs, which are the highest standards for future display technologies, will gradually replace LED TVs, and as production increases, OLED TVs will increase. The cost can be further reduced. Therefore, the Group believes that the time for the promotion of OLED TVs has arrived.
Skyworth stated that it will vigorously develop and promote OLED products in 2016 and hopes that in 2020, the Group's OLED product penetration rate can reach a satisfactory level.
The main business is to expand the international market and promote its own brand
Regarding the development of the entire color TV industry, Skyworth stated that the management of the Group predicts that there will be more challenges in the operating environment of the color TV industry in 2016.
There are mainly three aspects. First, the growth of color TV sales in the Chinese mainland market encounters bottlenecks. Second, the market and product reforms caused by the new integration of brands and original brands. Third, the oversupply of LCD TV panels gradually weakens.
Under the new situation, Skyworth Group plans to implement two kinds of business strategies in 2016. The first is to expand the main business from the Chinese mainland market to the international market and develop the group's own brand products through internationalization in order to gain more international share. The second is to achieve product diversification and focus on smart homes or smart appliances.
In terms of the internationalization of color TV services, in the 2015/16 financial year, overseas sales of color TV products recorded HK$5,983 million, a 3.8% increase from the previous year.
LED LCD TVs sold 4.41 million units in overseas markets, up 18.7% from the previous year. The gross profit of color TV products increased by 2.5% to 10.1%.
According to Xiaobian from the sofa, after Skyworth successfully acquired the television business of Metz in Germany last year, it implemented a dual-brand sales strategy, promoted the company’s branded products to the European market, and focused on expanding the market share of medium and high-end TV sets. LED LCD TV sales accounted for 99.9%.
Skyworth also promotes and promotes its own brands through OEMs, ODMs, and the establishment of branches overseas, which increases the visibility and exposure of private brands in overseas markets.
Last fiscal year data shows that Skyworth’s own branded overseas market turnover increased by 6.0% year-on-year, accounting for 13.3%. According to the company, this is due to the Group's constant adjustment of product sales structure in response to different market needs, timely launch of diversified products in line with market demand, and continued to explore diversified sales channels, resulting in an ideal increase in overseas market turnover.
In terms of diversification and intelligence, despite the continuous decline in TV sales unit price, Skyworth adopted a diversification strategy because of the drastic decline in the price of TV screens and its raw materials. From the original focus on “TV†to the development of “wisdom familiesâ€. Products, together with the strategies of diversified markets, multiple channels and multiple products, continued to increase overall sales.
New fiscal year color TV sales target: 17 million units
Skyworth expects to target sales of 17 million TV sets in 2016/17, 11 million sets in Mainland China (including 4.85 million 4K smart TVs and 385 million non-4K smart TVs), and 6 million in overseas markets.
According to the sofa review, in the first two months of 2016/17 fiscal year (April and May 2016), the total sales of Skyworth digital TV reached 2.261 million units, an increase of 4% year-on-year. The Chinese market accounts for 1.27 million units and the overseas market accounts for 891,000 units. Among them, Skyworth's sales of 4K smart TVs in the Chinese market reached 511,700 units in the past two months, an increase of 110% year-on-year.
The company’s management believes that we can cope with the difficulties we are facing, and that the Group has accelerated the development of the international market and grasped the strategic direction of “internationalization, diversification, and intelligenceâ€. We believe that through its forward-looking product innovation, technology upgrades and A quick insight into the tactile changes in the market will surely keep the Group’s leading position.
Excluding the one-time gains from the previous financial year, the actual profits of Skyworth Digital (0751.HK) and the equity holders of the company last year increased by 27.1% and 22.9% respectively from last year.
HK$9.363 billion, eye-catching gross profit indicator
It is worth noting that Skyworth Group has always taken profitability as the main focus when formulating its sales strategy. Therefore, under the environment of sluggish domestic color TV market, Skyworth continued to record a gross profit of HK$9.363 billion last year, a year-on-year increase of 16.7%. The gross profit margin was 21.9%, an increase of 1.9 percentage points year-on-year.
According to the sofa Xiao Bian observation, this is mainly due to the further strengthening of the high-end and intelligent product structure transformation of Skyworth last year, especially the promotion of OLED organic TV strategy, which makes the company’s sales of intelligent and 4K color TV products further increase, and 4K intelligence. The gross profit margin and average selling price of TVs are among the highest in all TV series of Skyworth.
Affected by the annual results, Hong Kong stocks Skyworth Digital (0751.HK) closed at HK$5.41 on Wednesday (June 15th), soaring 9.959%, ​​once soaring to as high as 5.44 Hong Kong dollars.
A number of big banks are bullish and the color TV business is strong
Macquarie suggests that investors can pay attention to Skyworth's product mix improvement and overseas market expansion. The bank raised its earnings forecast for Skyworth in 2017 and 2018 by 3%, respectively, to reflect the company’s overseas expansion and reiterated its “neutral†rating.
Macquarie believes that Skyworth will continue to develop overseas in the coming quarters. The overseas acquisitions made by the company in the past few years are an effective way to enhance overseas business.
CICC also pointed out in its research report that Skyworth China's color TV business has strong competitiveness and its market share has steadily increased. In 2015, Skyworth's sales volume increased by 12.3% year-on-year, which was a sign of market success.
CICC continued to point out that Skyworth’s color TV business in the Mainland market gross profit margin was 24.8%, which was a 2.7 percentage point year-on-year increase and surpassed its peers, Hisense for the first time. Although the market is concerned about the decline in the average selling price of color TVs, the cost has also declined; In the case of LeTV’s crazy price cuts, Skyworth still achieved a simultaneous increase in market share and profits.
The bank also raised 6% and 8% earnings per share for Skyworth's 2016/17 and 2017/18 fiscal year, with a target price of HK$7, and maintains a “Convinced Buy†rating.
The highest standard OLED TV gradually replaces LED TV
Regarding OLED organic TV growth strategy, in the 2015/16 financial report, Skyworth Digital stated that the management of the Group believes that OLED TVs, which are the highest standards for future display technologies, will gradually replace LED TVs, and as production increases, OLED TVs will increase. The cost can be further reduced. Therefore, the Group believes that the time for the promotion of OLED TVs has arrived.
Skyworth stated that it will vigorously develop and promote OLED products in 2016 and hopes that in 2020, the Group's OLED product penetration rate can reach a satisfactory level.
The main business is to expand the international market and promote its own brand
Regarding the development of the entire color TV industry, Skyworth stated that the management of the Group predicts that there will be more challenges in the operating environment of the color TV industry in 2016.
There are mainly three aspects. First, the growth of color TV sales in the Chinese mainland market encounters bottlenecks. Second, the market and product reforms caused by the new integration of brands and original brands. Third, the oversupply of LCD TV panels gradually weakens.
Under the new situation, Skyworth Group plans to implement two kinds of business strategies in 2016. The first is to expand the main business from the Chinese mainland market to the international market and develop the group's own brand products through internationalization in order to gain more international share. The second is to achieve product diversification and focus on smart homes or smart appliances.
In terms of the internationalization of color TV services, in the 2015/16 financial year, overseas sales of color TV products recorded HK$5,983 million, a 3.8% increase from the previous year.
LED LCD TVs sold 4.41 million units in overseas markets, up 18.7% from the previous year. The gross profit of color TV products increased by 2.5% to 10.1%.
According to Xiaobian from the sofa, after Skyworth successfully acquired the television business of Metz in Germany last year, it implemented a dual-brand sales strategy, promoted the company’s branded products to the European market, and focused on expanding the market share of medium and high-end TV sets. LED LCD TV sales accounted for 99.9%.
Skyworth also promotes and promotes its own brands through OEMs, ODMs, and the establishment of branches overseas, which increases the visibility and exposure of private brands in overseas markets.
Last fiscal year data shows that Skyworth’s own branded overseas market turnover increased by 6.0% year-on-year, accounting for 13.3%. According to the company, this is due to the Group's constant adjustment of product sales structure in response to different market needs, timely launch of diversified products in line with market demand, and continued to explore diversified sales channels, resulting in an ideal increase in overseas market turnover.
In terms of diversification and intelligence, despite the continuous decline in TV sales unit price, Skyworth adopted a diversification strategy because of the drastic decline in the price of TV screens and its raw materials. From the original focus on “TV†to the development of “wisdom familiesâ€. Products, together with the strategies of diversified markets, multiple channels and multiple products, continued to increase overall sales.
New fiscal year color TV sales target: 17 million units
Skyworth expects to target sales of 17 million TV sets in 2016/17, 11 million sets in Mainland China (including 4.85 million 4K smart TVs and 385 million non-4K smart TVs), and 6 million in overseas markets.
According to the sofa review, in the first two months of 2016/17 fiscal year (April and May 2016), the total sales of Skyworth digital TV reached 2.261 million units, an increase of 4% year-on-year. The Chinese market accounts for 1.27 million units and the overseas market accounts for 891,000 units. Among them, Skyworth's sales of 4K smart TVs in the Chinese market reached 511,700 units in the past two months, an increase of 110% year-on-year.
The company’s management believes that we can cope with the difficulties we are facing, and that the Group has accelerated the development of the international market and grasped the strategic direction of “internationalization, diversification, and intelligenceâ€. We believe that through its forward-looking product innovation, technology upgrades and A quick insight into the tactile changes in the market will surely keep the Group’s leading position.
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