Skyworth Group Limited Provides Unaudited Consolidated Earnings Guidance for the Year Ended December 31, 2019
February 28, 2020 at 06:44 am EST
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Skyworth Group Limited provided unaudited consolidated earnings guidance for the year ended December 31, 2019. The company group expects to record net profit after taxation for the financial year 2019 that represents an increase of approximately 80% as compared to the financial year 2018. The group expected increase of net profit after taxation for the financial year 2019 is mainly attributable to: (1) overall benefits derived from the implementation of the Group's transformation and upgrading strategy, which enhanced overall operating efficiency and reduced costs; (2) the significant growth of overseas markets in home access systems, set-top boxes and other products; (3) growth of big data TV operation business; (4) growth of refrigerators, washers and other home appliances business; and (5) rapid growth of e-logistics business, operation of science and technology parks, and finance business. The financial year 2019 covers 12 months and the financial year 2018 covers 9 months. The company expects to record net profit after taxation for the 12 months of financial year 2019 that represents an increase of approximately 20% as compared to the 12 months of year 2018 (unaudited).
Skyworth Group Ltd is a Hong Kong-based holding company mainly engaged in the manufacture and sales of smart television (TV) systems. The Company operates its business through four segments. The Multimedia Business segment is engaged in the manufacture and sales of smart TV systems in China and overseas markets, as well as the provision and sales of Internet value-added services of Coocaa system. The Smart System Technology Business segment is engaged in the manufacture and sales of home access systems, intelligent manufacturing, automotive electronic systems, lighting products, security systems and other electronic products. The New Energy Business segment is engaged in the sales and installation of distributed photovoltaic power stations for residential use in the client retail sector in the China market. The Smart Appliances Business segment is engaged in the manufacture and sales of smart white goods, smart air conditioners, smart refrigerators, smart kitchen appliances and others.