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Skyworth Releases Annual Report for 2019

SHENZHEN, China, April 2, 2020 /PRNewswire/ — SKYWORTH GROUP LIMITED (the “Group”, 00751.HK) released its unaudited annual results announcement for the twelve months ended 31 December 2019.” data-reactid=”12″>SHENZHEN, China, April 2, 2020 /PRNewswire/ — SKYWORTH GROUP LIMITED (the “Group”, 00751.HK) released its unaudited annual results announcement for the twelve months ended 31 December 2019.

RMB37,277 million and gross profit achieved RMB7,502 million with an increased margin of 1.6 percentage points year-on-year (YoY) to 20.1%. Profit for the year amounted to RMB1,031 million, up by 22.9% during the previous period. Revenue from the China market was approximately RMB26,006 million, contributing 69.8% of the Group’s overall revenue, while that from overseas markets recorded RMB11,271 million, equivalent to 30.2% of the Group’s overall revenue and representing an increase of 4.9% YoY.” data-reactid=”33″>For the Reporting Year, revenue of the Group amounted to RMB37,277 million and gross profit achieved RMB7,502 million with an increased margin of 1.6 percentage points year-on-year (YoY) to 20.1%. Profit for the year amounted to RMB1,031 million, up by 22.9% during the previous period. Revenue from the China market was approximately RMB26,006 million, contributing 69.8% of the Group’s overall revenue, while that from overseas markets recorded RMB11,271 million, equivalent to 30.2% of the Group’s overall revenue and representing an increase of 4.9% YoY.

Leveraging on its insight into the trend of the industry, Skyworth has worked to transform its businesses from manufacturing to modern services, from hardware to software, and from terminal products to smart systems.

Multimedia: Increased Sales in TVs Despite Sluggish Domestic Market & Revenue from Internet Value-Added Services Significantly Up 50.2%

RMB21,505 million.” data-reactid=”36″>During the Reporting Year, the Group’s revenue of multimedia business recorded revenue of RMB21,505 million.

In 2019, Skyworth embraced the opportunity brought by the substantial development in next-generation technologies such as 5G, AI and VR to have built an open big-screen AIoT ecosystem that featured its two key technologies, Swaiot and TrensAI, as its Smart Home solution. According to statistics from market consultancy All View Cloud, Skyworth topped the list among domestic brands in OLED TV shipments nationwide with a market share of 39.6% in 2019.

4K ultra-high-definition (UHD) Display TVs at Tian’anmen Rostrum during the military parade for the 70th anniversary of the founding of the People’s Republic of China, and in ASEAN by sponsoring the Southeast Asian Games. Moreover, it also became a key partner for Google in developing Android TV and AIoT smart home businesses, which again helped enhance its global influence.” data-reactid=”38″>The Group managed to enhance its brand exposure domestically by offering its 100-inch 4K ultra-high-definition (UHD) Display TVs at Tian’anmen Rostrum during the military parade for the 70th anniversary of the founding of the People’s Republic of China, and in ASEAN by sponsoring the Southeast Asian Games. Moreover, it also became a key partner for Google in developing Android TV and AIoT smart home businesses, which again helped enhance its global influence.

RMB826 million. As of the Reporting Year-end, activated smart terminals totaled approximately 44.30 million domestically, with approximately 15.53 million being active daily. With investments from iQIYI, an affiliate of Ten cent and an affiliate of Baidu, Coocaa has strived for content innovation and operational efficiency enhancement in big-screen Internet and in-home Internet services, thereby consolidating its leading position in the domestic OTT industry.” data-reactid=”39″>Revenue from the Internet value-added services of Coocaa System increased significantly YoY by 50.2% to RMB826 million. As of the Reporting Year-end, activated smart terminals totaled approximately 44.30 million domestically, with approximately 15.53 million being active daily. With investments from iQIYI, an affiliate of Ten cent and an affiliate of Baidu, Coocaa has striven for content innovation and operational efficiency enhancement in big-screen Internet and in-home Internet services, thereby consolidating its leading position in the domestic OTT industry.

Strong Performance in Smart Systems Technology & Smart Appliances
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Posted by James - April 2, 2020 at 9:15 am

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