Hisense Visual Technology (600060) H2 2025 earnings summary

Executive summary

• Achieved revenue of RMB 57.68 billion in 2025, with net profit attributable to shareholders of RMB 2.45 billion, up 9.24% year-over-year. Operating cash flow increased 27.43% to RMB 4.58 billion.

• Maintained robust growth in core business and accelerated expansion in new display segments, with new business revenue up 24.92% year-over-year.

• Continued product mix upgrade toward large-size and high-end displays, driving average selling price and profitability higher.

• Global market share increased, with leading positions in China and key international markets.

Financial highlights

• Revenue: RMB 57.68 billion, down 1.45% year-over-year; net profit attributable to shareholders: RMB 2.45 billion, up 9.24%.

• Operating cash flow: RMB 4.58 billion, up 27.43% year-over-year.

• Gross margin improved to 17.31%, up 0.78 percentage points year-over-year.

• Basic and diluted EPS: RMB 1.888, up 10.02% year-over-year.

• ROE: 12.11%, up 0.25 percentage points year-over-year.

• Proposed cash dividend: RMB 9.403 per 10 shares, totaling RMB 1.23 billion, representing 50% payout ratio.

Outlook and guidance

• 2026 focus on high-quality growth, product mix upgrade, and global expansion, leveraging FIFA World Cup partnership.

• Continued investment in large-size, high-end, and AI-driven display products; overseas market focus on 65-inch+ and Mini LED.

• New business lines (laser, commercial display, cloud, chips, AI) to drive second growth curve.