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Hisense Appliances Releases Third Quarter: Net Profit Drops 65.24% YoY

On the evening of October 25, Hisense Home Appliances released its third-quarter performance report. The revenue for the first three quarters of 2018 was 28.808 billion yuan, up 9.15% year-on-year, and the net profit attributable to shareholders was 1.171 billion yuan, down 32.33% year-on-year. Previously, the company announced that from October 16th, the company’s A-share securities abbreviation changed from “Hisense Kelon” to “Hisense Home Appliances”.
In addition, Hisense’s thirdquarter results report showed that revenue in the third quarter of 2018 was 8.438 billion yuan, down 3.99% year-on-year, and net profit attributable to shareholders was 368 million yuan, a decrease of 65.24%.
The announcement stated that the net profit attributable to shareholders of the listed company during the reporting period increased by 22.87% year-on-year, and the net profit attributable to shareholders of the listed company at the end of the reporting period increased by 22.87% compared with the year-end of the reporting period. Growth of 20.52%.
The Beijing News reporter noted that in August 2017, Hisense Kelon announced that the company had transferred 80% of Baohong Property Company to Yingmei Investment Company for RMB 684 million.
On October 15, Hisense Kelon announced that the company’s full name was changed from “Hisense Kelon Electric Co., Ltd.” to “Hisin Home Appliances Group Co., Ltd.” to better reflect the actual business and strategic positioning of the company’s main business. Meet the company’s brand management and brand development needs, thereby enhancing the company’s influence.