Hisense Visual Technology Reports Full Year 2023 Earnings Below Expectations

Hisense Visual Technology Shines Bright in China’s Consumer Durables Industry with 17% Revenue Growth and Improved Profit Margin

Hisense Visual Technology (SHSE:600060) has released its full-year 2023 financial results, showing a significant improvement in key financial metrics. The company’s revenue increased by 17% to CN¥53.6 billion compared to the previous fiscal year, while net income grew by 25% to CN¥2.10 billion. Additionally, the profit margin saw an improvement, rising from 3.7% in FY 2022 to 3.9%. This increase in margin was attributed to higher revenue. Earnings per share (EPS) also showed growth, reaching CN¥1.62 compared to CN¥1.28 in FY 2022.

Despite the positive financial results, Hisense Visual Technology’s EPS fell short of analyst expectations by 1.6%. However, revenue met analyst estimates. Looking forward, the company is forecasting an average annual revenue growth rate of 10% over the next three years, outpacing the 9.9% growth forecast for the Consumer Durables industry in China.

In terms of stock performance, Hisense Visual Technology’s share price remained relatively stable compared to a week ago. While investors should be aware of potential warning signs that may impact its valuation, they can also consider reaching out for a more comprehensive analysis of the company from interested parties who can provide feedback on fair value estimates, risks, dividends, insider transactions and financial health directly through their website or email address.

It is important for investors to make informed decisions based on their own financial objectives and circumstances and not solely rely on unbiased analysis provided by Simply Wall St which does not constitute financial advice.

For more information about investing in Hisense Visual Technology and other consumer durables companies in China, visit our website or contact one of our experts today!

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