In 2023, Hisense Visual Technology (SHSE:600060) reported a strong financial performance with 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. This improvement in profit margin was attributed to higher revenue and rose from 3.7% in FY 2022 to 3.9%. 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 directly for feedback on the content provided by Simply Wall St which offers unbiased analysis based on historical data and analyst forecasts but does not constitute financial advice and it’s important for investors to make informed decisions based on their own financial objectives and circumstances
