Hisense Electric's LED market share exceeds 30%. This year's performance will grow steadily.
Although the performance in the first quarter of this year was lower than market expectations, Hisense’s executives expressed optimism about this year’s full-year results. "The steady growth this year is no problem, and this is our plan." Liu Hongxin, general manager of the company, said at the 2009 shareholders meeting.
“In 2009, the industry opportunity was the best in history. Almost all home appliance companies maintained high growth, and this high growth will not continue until this year.†Liu Hongxin said. Hisense Electric reported in the first quarter of this year that the company achieved operating income of 5.22 billion yuan in the first quarter, a year-on-year increase of 51%, a decrease of 2% from the previous quarter; and a net profit of 130 million yuan, a year-on-year increase of 58%. Earnings per share was 0.23 yuan, slightly lower than market expectations.
However, the operating profit margin of the company in the first quarter was 2.7%, which was 0.2 percentage points higher than that in December 2009. This year, Hisense Electric will further increase the gross profit margin by increasing the proportion of high-end TVs such as LEDs, while giving full play to the advantages of the company's integration and controlling the cost of scale. At the same time, exports will also become an important driving force for the company's steady growth this year.
Liu Hongxin said that since the fourth quarter of last year, panel prices have increased substantially, reaching a peak in the first quarter of this year, resulting in a general decline in the gross profit margin of color TV companies. At present, panel prices have stabilized and have a downward trend.
Hisense Electric has gained a lot during the May Day period. In order to cope with the May 1st market, the company has fully prepared not only to launch the technology-leading and powerful Lanqing LED series LCD TVs, but also to increase the market concessions to Hisense Blue. The LED LCD TV represented by Qing is widely sought after by the market. In 3 days, Hisense LED LCD TV has grown rapidly, and the popularity of LED LCD TV has far exceeded market expectations. At present, Hisense LED TV market share is more than 30%, ranking first in the industry. The company's LED sales accounted for an overall increase in sales, currently more than 30%, high-end products to ensure revenue growth and comprehensive gross margin.
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