Home appliance industry is in a recession Skyworth has already stepped out from the trough in the first half of the year. On June 12, Skyworth Digital released its performance report for the fiscal year 2017/18. During the 12 months ended March 31, 2018, the Group’s turnover was HK$46.26 billion. The growth rate was 8% year-on-year, and the overall gross profit rate was 16.7%.
In the first half of the fiscal year, Skyworth once suffered a loss of HK$189 million. The stock price fell sharply. In December 2017, it reached a low of 2.95 in more than three years. However, from the current earnings report, Skyworth has succeeded in its difficulties. Breakthrough, the results showed a V-shaped bottoming out, and finally recorded a profit of HK$588 million in the 2017/18 fiscal year, with a dividend payout of 50.9%.
Liu Weizhi, chief executive of Skyworth Group, said that Skyworth's performance showed a V-shaped bottom rebound during the fiscal year. The overall sales situation has already gone from the low point of the first half of the fiscal year, and has entered the upward path of the V-shaped bottom rebound, during the reporting period. 'SKYWORTH' high-end products are continuously iteratively updated, and market share coverage has been further improved.
The financial report also shows that Skyworth is actively deploying in smart home appliances, artificial intelligence, chips, etc., and is continuing to develop in depth.
