trending Market Intelligence /marketintelligence/en/news-insights/trending/nPk_iH5zBUKSLHbmfwN_9w2 content esgSubNav
In This List

Hisense Kelon Electrical swings to profit in Q4


Gold - Geopolitical tensions and inflation remain key drivers


Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten


Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


2022 broadband forecast shifts to market share battle with intense competition

Hisense Kelon Electrical swings to profit in Q4

Hisense Kelon Electrical Holdings Company Ltd said its fourth-quarter normalized net income came to 3.4 million yuan, compared with a loss of 129.3 million yuan in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 2.0% from negative 2.8% in the year-earlier period.

Total revenue fell 6.6% year over year to 4.24 billion yuan from 4.55 billion yuan, and total operating expenses decreased 7.3% from the prior-year period to 4.46 billion yuan from 4.81 billion yuan.

Reported net income came to 125.5 million yuan, or 9 fen per share, compared to a loss of 33.5 million yuan, or a loss of 3 fen per share, in the prior-year period.

For the year, the company's normalized net income totaled 20 fen per share, a decrease of 38.0% from 32 fen per share in the prior year.

Normalized net income was 266.4 million yuan, a decrease of 37.8% from 428.6 million yuan in the prior year.

Full-year total revenue decreased 11.5% on an annual basis to 23.47 billion yuan from 26.53 billion yuan, and total operating expenses fell 9.3% on an annual basis to 23.74 billion yuan from 26.17 billion yuan.

The company said reported net income fell 13.7% year over year to 585.2 million yuan, or 43 fen per share, in the full year, from 678.3 million yuan, or 50 fen per share.

As of March 29, US$1 was equivalent to 6.51 yuan.