Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Skyworth Releases Annual Report for 2019: RMB1,031 million in Profit and Gross Profit Margin Up to 20.1%, Growth in "Smart Human Habitat" Businesses


News provided by

SKYWORTH

02 Apr, 2020, 10:01 GMT

Share this article

Share toX

Share this article

Share toX

SHENZHEN, China, April 2, 2020 /PRNewswire/ -- SKYWORTH GROUP LIMITED (the "Group", 00751.HK) released its unaudited annual results announcement for the twelve months ended 31 December 2019.

Continue Reading
This image opens in the lightbox
Skyworth Group
This image opens in the lightbox
Skyworth at CES 2020

For the Reporting Year, revenue of the Group amounted to RMB37,277 million and gross profit achieved RMB7,502 million with an increased margin of 1.6 percentage points year-on-year (YoY) to 20.1%. Profit for the year amounted to RMB1,031 million, up by 22.9% during the previous period. Revenue from the China market was approximately RMB26,006 million, contributing 69.8% of the Group's overall revenue, while that from overseas markets recorded RMB11,271 million, equivalent to 30.2% of the Group's overall revenue and representing an increase of 4.9% YoY.

Leveraging on its insight into the trend of the industry, Skyworth has worked to transform its businesses from manufacturing to modern services, from hardware to software, and from terminal products to smart systems. 

Multimedia: Increased Sales in TVs Despite Sluggish Domestic Market & Revenue from Internet Value-Added Services Significantly Up 50.2%

During the Reporting Year, the Group's revenue of multimedia business recorded revenue of RMB21,505 million.

In 2019, Skyworth embraced the opportunity brought by the substantial development in next-generation technologies such as 5G, AI and VR to have built an open big-screen AIoT ecosystem that featured its two key technologies, Swaiot and TrensAI, as its Smart Home solution. According to statistics from market consultancy All View Cloud, Skyworth topped the list among domestic brands in OLED TV shipments nationwide with a market share of 39.6% in 2019.

The Group managed to enhance its brand exposure domestically by offering its 100-inch 4K ultra-high-definition (UHD) Display TVs at Tian'anmen Rostrum during the military parade for the 70th anniversary of the founding of the People's Republic of China, and in ASEAN by sponsoring the Southeast Asian Games. Moreover, it also became a key partner for Google in developing Android TV and AIoT smart home businesses, which again helped enhance its global influence.

Revenue from the Internet value-added services of Coocaa System increased significantly YoY by 50.2% to RMB826 million. As of the Reporting Year-end, activated smart terminals totalled approximately 44.30 million domestically, with approximately 15.53 million being active daily. With investments from iQIYI, an affiliate of Tencent and an affiliate of Baidu, Coocaa has strived for content innovation and operational efficiency enhancement in big-screen Internet and in-home Internet services, thereby consolidating its leading position in the domestic OTT industry.

Strong Performance in Smart Systems Technology & Smart Appliances

The Group's revenue of smart systems technology business increased by 12.56% YoY to RMB9,598 million. Revenue in the China market was RMB5,699 million and in overseas markets, up 39.4% to RMB3,899 million.

In 2019, Skyworth proactively embraced China's national action plan of UHD industry and saw significant growth in the four segments of broadcast operators, major domestic telecom operators, domestic Internet OTT retail market and overseas markets. Notably, one major breakthrough of the Group was the approval and release by the International Telecommunication Union of the multi-mode set-top box industry standard (ITU-T J.298) developed by its subsidiary Skyworth Digital. Moreover, its strategic partnership with Google and Netflix helped it tap into the traditional pay-TV market overseas.

After having proposed its forward-looking concept for smart home appliances, Skyworth is now on the path of shaping the modern smart home industry by introducing home appliances featuring a smart control centre (system) that allows voice control and touch screen interaction. 

The Group's results of smart appliances business were also strong. Revenue in China went up by 10.4% YoY to RMB3,077 million, while that in overseas markets grew dramatically by 55.4% to RMB1,218 million. Its strategy for domestic market – key account customization and e-marketing for trending items – saw initial success, and the prioritization of Middle East, European, African and Asia-Pacific markets yielded a rapid growth in its overseas business.

Leading Gross Profit Margin Realized by Product R&D and Lean Management

In Skyworth, considerable investment was made in research and development (R&D) in 2019 to optimize the value chain of 5G with 8K and to explore technologies related to smart home systems. R&D expenses for the year recorded a substantial increase of 9.2% YoY to RMB1,843 million. The Group also completed 15 major R&D projects and filed a total of 1,164 patent applications. Powered by its robust R&D capabilities, its gross profit margin rose by 1.6 percentage points YoY to 20.1%.

With China accelerating the construction of 5G networks, industrial Internet and other new infrastructure, Skyworth will prioritize the R&D of technology and products related to smart home and UHD video, thereby offering user-centric products for a smart and healthy future home life.

Photo - https://mma.prnewswire.com/media/1140746/Skyworth_Group.jpg
Photo - https://mma.prnewswire.com/media/1140745/Skyworth_at_CES_2020.jpg  

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.