Brief News: SKYWORTH Digital, a subsidiary of Skyworth, saw its net profit decrease by 64% year-on-year in the first three quarters
In the first three quarters, SKYWORTHDT's net profit decreased by 64% year-on-year, with revenue of 6.456 billion yuan, a decline of 2.45%. R&D investment decreased by 10%, and ending inventory increased to 2.119 billion yuan, with cash flow from operating activities turning into a net outflow. On Monday, Skyworth Group's stock price opened higher but then turned to decline, closing at HKD 4.14, down 1.43%
Electronics manufacturer Skyworth Group Co., Ltd. (0751.HK) announced on Sunday that its non-wholly-owned subsidiary SKYWORTH Digital Co., Ltd. (000810.SZ) reported a revenue of 6.456 billion yuan (USD 906 million) for the first three quarters, a year-on-year decrease of 2.45%, with a net profit of 85.859 million yuan, down 63.69% year-on-year.
During the reporting period, the company's R&D investment reached 339 million yuan, a decrease of about 10% compared to the same period last year; due to strategic material preparation and customers' advance stocking, ending inventory increased to 2.119 billion yuan, up 39.4% from the beginning of the year; cash flow from operating activities turned into a net outflow of 83.628 million yuan, compared to a net inflow of 453 million yuan in the same period last year.
SKYWORTH Digital is a company that provides smart system solutions, with its main business including the R&D, production, and sales of smart terminals, broadband devices, and professional display products, and has expanded its business into areas such as smart home, smart city, and Internet of Vehicles.
Skyworth Group's stock price opened higher on Monday but then turned lower, reporting at HKD 4.14 at noon break, down 1.43%, with the stock having risen about 31.43% over the past six months
