Hisense Home Appliances' business rebounded significantly in the second quarter, with revenue increasing by 11.27% year-on-year

Hisense Home Appliances Group Co., Ltd. (hereinafter referred to as Hisense Home Appliances) recently announced its 2020 semi-annual report. Data showed that in the first half of the year, the company achieved operating income of 21.087 billion yuan, a year-on-year increase of 11.27%.

According to the 2020 semi-annual report released by Hisense Home Appliances, the company achieved operating income of 21.087 billion yuan during the reporting period, a year-on-year increase of 11.27%. Among them, the domestic sales business achieved a main business income of 12.491 billion yuan, a year-on-year increase of 13.59%, and the export business achieved a main business income of 6.683 billion yuan, a year-on-year increase of 5.52%. At the same time, the net cash flow generated by operating activities was 2.541 billion yuan, a year-on-year increase of 29.03%.

The COVID-19 pandemic that hit the Chinese economy at the beginning of 2020 has had a severe impact on the domestic economy, and the home appliance market, as an important part of the consumer market, has been particularly affected. Faced with the severe test brought by the epidemic to the market, Hisense Home Appliances took the initiative to transform to ensure stable operations. In the second quarter, the company's operations quickly rebounded, achieving operating income of 13.5 billion yuan, a year-on-year increase of 32%, effectively filling the operating gap in the first quarter.

Specifically, the profit of Hisense Home Appliances' refrigerator and washing machine business continued to improve, with a substantial year-on-year increase in total profit in the second quarter; the central air-conditioning business also performed well, with Hisense Hitachi's operating income increasing by double digits in the second quarter, of which tooling income increased by more than 20% year-on-year. In addition, Hisense Home Appliances actively developed overseas business, fully utilized its production capacity and product advantages, ensured timely delivery of overseas orders, and achieved steady growth in export sales revenue.

It is understood that while Hisense Home Appliances achieved steady growth in operations in the first half of the year, each product line also achieved continuous innovation and breakthroughs in technology and products, ensuring the timely launch of new mid-to-high-end products. According to statistics from CMM, in the first half of 2020, the company's offline cumulative retail sales market share of fresh air cabinet air conditioners ranked second in the industry, and the company's offline cumulative retail sales market share of fresh air wall-mounted air conditioners ranked third in the industry.