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Hisense Visual Technology Reports Full Year 2023 Earnings Below Expectations

Byeditor

Apr 3, 2024

Hisense Visual Technology (SHSE:600060) reported its full-year 2023 financial results, showing significant growth 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. The profit margin also 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. It is important for investors to consider the risks associated with investing in the company, including potential warning signs that may impact its valuation.

For a more comprehensive analysis of Hisense Visual Technology, including fair value estimates, risks, dividends, insider transactions, and financial health, interested parties can reach out to directly to provide feedback on the content. Simply Wall St provides unbiased analysis based on historical data and analyst forecasts, but does not constitute financial advice. It is important for investors to make informed decisions based on their own financial objectives and circumstances.

By editor

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