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SKYWORTHGROUPLIMITED 創維 集團 有限公司 Stock Code 股份代號 : 00751.HK 2026 Interim Results 27 August 2026
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This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results of operations and businesses of SKYWORTH GROUP LIMITED (“Skyworth” or the “Group”). These forward-looking statements represent Skyworth’s expectations or beliefs concerning future events and involve known and unknown risks and uncertainties which could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward Looking Statement
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// 3 Four Key Business Sectors // Smart Household Appliances Business 〡Smart TV 〡Smart white appliances 〡Other smart appliances 〡Internet connection services of Coocaa system // New Energy Business 〡Sale and installation of distributed solar power plant system integrated solutions 〡Provision of smart green energy operation services 〡Intelligent manufacturing and sales of solar products // Smart Systems Technology Business 〡Smart set-top boxes and solutions 〡Broadband network communication connection equipment 〡XR/AI glasses 〡Integration systems for automotive display 〡Industrial control display module and IoT businesses 〡Other operational services // Modern Services Business 〡Maintenance & repair for home appliances 〡Macro-logistics services 〡International trades 〡Construction development 〡Financial lease 〡Property operation for industrial parks
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// 4 1H2026 Results Highlights +4.9% RMB38.04 bil // Revenue +180.8% RMB1.03 bil // Profit for the period RMB23.82 bil // Net assets RMB12.79 bil // Cash position +13.7% RMB5.08 bil // Gross profit Accumulated patents >15,000 Business distribution >120 countries & regions R&D centres 15 Intelligent manufacturing bases 27
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2026 INTERIM RESULTS
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// 6 (RMB million) 1H2026 1H2025 Change 1H2024 Revenue 38,035 36,264 4.9% 30,153 Gross profit 5,082 4,468 13.7% 4,151# Gross profit margin 13.4% 12.3% 1.1 pp 13.8%# Operating profit (EBIT) 1,728 885 95.3% 1,222 Operating profit margin 4.5% 2.4% 2.1 pp 4.1% Profit for the period 1,025 365 180.8% 714 - Attributable to owners of the Company 624 125 399.2% 384 - Attributable to non-controlling interests 401 240 67.1% 330 Net profit margin 2.7% 1.0% 1.7 pp 2.4% Basic earnings per share (RMB cents) 33.05 5.66 483.9% 16.31 Diluted earnings per share (RMB cents) 33.05 5.66 483.9% 16.31 Overall Results # Selling and distribution expenses of RMB138 million for the six months ended 30 June 2024 has been reclassified to cost of sales to conform to the current period’s presentation
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// 7 46.6% 14.0% 36.6% 2.8% Revenue by Major Business Segment 17,044 17,723 4,087 5,342 13,801 13,900 1,332 1,070 0 10,000 20,000 30,000 40,000 1H2025 1H2026 Revenue (Post-Tax) (RMB million) +4.9% 36,264 38,035 New Energy Business Modern Services Business and Others* Smart Household Appliances Business Smart Systems Technology Business * Others mainly include sales of properties, loan financing, leasing of properties and trading of other products, among others 1H2026 Revenue Breakdown
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// 8 // Smart TV Products // Smart Appliance Business // Smart Systems Technology Business // New Energy Business 5,536 5,691 4,100 4,977 0 4,000 8,000 12,000 1H2025 1H2026 (RMB million) Mainland China YoY +2.8% Overseas YoY +21.4% 10,6689,636 +10.7% 0 4,000 8,000 12,000 16,000 1H2025 1H2026 (RMB million) YoY +0.7%13,93513,836 +0.7% 3,936 2,926 1,694 2,420 0 2,000 4,000 6,000 1H2025 1H2026 (RMB million) Mainland China YoY -25.7% Overseas YoY +42.9% 5,3465,630 -5.0% 2,642 3,102 1,452 2,247 0 2,000 4,000 6,000 1H2025 1H2026 (RMB million) Mainland China YoY +17.4% Overseas YoY +54.8% 5,349 4,094 +30.7% Revenue* from Major Products/Businesses * Other business tax was not deducted from the above revenue by geographical segment Mainland China Overseas z Mainland China + Overseas
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// 9 Revenue in Overseas Markets 45% 22% 23% 9% 1% 46% 22% 19% 12% 1% 0% 20% 40% 60% 80% Asia Americas Europe Africa Oceania 1H2025 1H2026 Geographical Distribution of Revenue* in Overseas Markets * Other business tax was not deducted from the above revenue by geographical segment // Integrating the World’s Most Stringent Quality Standards to Create the Skyworth Standards TV： Acquired SINOTEC in Africa in 2014, acquired METZ in Germany and Toshiba factory in Indonesia in 2015, established a strategic partnership with Panasonic in 2026 Set-top Box ： Acquired STRONG MEDIA in Europe in 2015 〡 1H2026: Revenue from overseas markets amounted to approx. RMB10.30 billion (1H2025: approx. RMB8.05 billion), accounting for 27.0% of the Group’s overall revenue
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// 10 Gross Profit Margins (%) 1H2026 1H2025 Change 1H2024 Overall gross profit margin 13.4% 12.3% 1.1 pp 13.8%# By region - Mainland China market 13.0% 11.3% 1.7 pp 14.2% - Overseas markets 14.4% 16.0% (1.6 pp) 14.2% By business segment Smart household appliances business Smart TV systems products (Mainland China market) 18.5% 16.9% 1.6 pp 19.1% Smart TV systems products (Overseas markets) 13.6% 14.1% (0.5 pp) 10.7% Smart appliances business 9.2% 10.2% (1.0 pp) 12.1% Internet connection services of Coocaa System 46.5% 46.6% (0.1 pp) 49.0% Smart systems technology business Mainland China market 10.3% 7.7% 2.6 pp 11.0% Overseas markets 18.5% 20.2% (1.7 pp) 18.8% New energy business 10.0% 10.1% (0.1 pp) 10.1% Modern services business and others* 24.7% 10.3% 14.4 pp 25.7% * Others mainly include sales of properties, loan financing, leasing of properties and trading of other products, among others # Selling and distribution expenses of RMB138 million for the six months ended 30 June 2024 has been reclassified to cost of sales to conform to the current period’s presentation
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// 11 Segment Results by Major Business Segment 〡 Total segment results for 1H2026 was approx. RMB1.53 billion (1H2025: approx. RMB1.15 billion), a YoY increase of approx. 32.7% 〡 Modern services business: value of certain listed and unlisted equity securities held by the Group appreciated significantly as of the end of the reporting period, the non-cash and unrealised gain on fair value changes of financial assets at FVTPL recorded YoY increase 〡 Smart systems technology business: recorded YoY increase in sales volume, revenue and gross profit margin of smart devices Segment Results(RMB million) * Others mainly include sales of properties, loan financing, leasing of properties and trading of other products, among others 426 590 13 149 808 748 -95 42 (200) 0 200 400 600 800 1,000 1H2025 1H2026(200) Smart Household Appliances Business Smart Systems Technology Business New Energy Business Modern Services Business and Others*
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// 12 Operating Expenses Analysis 〡 Upholds the brand philosophy and practice of (技術創維，敢創敢為), embraces open mindset and strong innovation capabilities, and guided by user-oriented demand, empowering Skyworth’s products to efficiently serve diverse consumers 〡 Follows the technological development concept of “5G + AI +Device” in product development, promoting the integration of technological innovation resources and realising the technological integration of all categories of products 〡 Remained committed to driving industrial transformation and innovative development strategies, to improve corporate competitiveness and product advantages 〡 Leverage opportunities brought by digitisation, intelligence, and low-carbon transformation, to strengthen the R&D of the Group’s proprietary technology and the commercialisation of innovations 〡 Closely monitored market developments and adopted prudent and flexible operational strategies, including optimising resource allocation and accelerating inventory structure adjustments, to navigate the highly competitive environment (% to revenue) 1H2026 1H2025 Change 1H2024 Selling and distribution 5.8% 5.6% 0.2 pp 5.5%# General and administrative 2.7% 2.5% 0.2 pp 2.8% Research and development 2.7% 2.8% (0.1 pp) 3.3% Total expense rate 11.2% 10.9% 0.3 pp 11.6%# # Selling and distribution expenses of RMB138 million for the six months ended 30 June 2024 has been reclassified to cost of sales to conform to the current period’s presentation
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COMPETITIVE ADVANTAGE
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// 14 〡 Starting from the users’ needs, launched a series of innovative products, including ultra-flagship A10H series, “slim yet powerful” Q7H series, and multiple 100-inch models such as the L100F and 100H5F Pro. The Q9H series, incorporated a starlight separated main unit, was launched in July 〡 Actively advanced the R&D and application of cutting-edge AI algorithms, including the AI smart light engine, AI omni-dimensional perception system, AI visual display algorithm and AI panoramic preference system 〡 Focusing on the core value of TVs and user’s experience, strived to make innovation and breakthroughs in high image quality, high sound quality, home-integrated design, high-performance connectivity, system software and other technologies 〡 Overseas markets achieving counter-cyclical growth. Achieved multi-tiered coverage of the global market from high-end to mainstream segments by continuously advancing the multi-brand synergy strategy centred on Skyworth brand, and clearly defining the differentiated positioning of each brand across different regions Smart Household Appliances Business Smart TV Products: Establishing Differentiated Product Advantages Strategic Focus: “Healthy Display, Home Aesthetics, Edge-Cloud AI” Advancing Technological Innovation and Product Implementation
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// 15 Smart Household Appliances Business Smart Appliances Business: Striving to Build a Full-scenario Product Portfolio Focusing on “Full-category, Multi-channel” Strategy Continue to Consolidate Core Markets 〡 Focus on three core pillars: ultra-thin and flat design, AI intelligence, and health-focused sterilisation, continuously leveraging R&D and technological innovation strengths 〡 Washing machine business demonstrating a strong market competitiveness, recorded significant growth in both the domestic and European markets 〡 Continued to intensify R&D and development effort and enhance product competitiveness, providing customers with high-performance, high-quality and cost-effective, and environmentally friendly products 〡 Supported by a diversified product portfolio and flexible channel strategies, other smart appliance products, such as consumer electronics products maintained growth, effectively mitigating market volatility associated with any single product category
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// 16 Smart Household Appliances Business Coocaa Technology: Reshaping Smart Audio-Visual Experience Dedicated to Deepening the R&D and Application of AI Technologies 〡 Developed steadily in the internet value-added service market, based on the reliable and secure connection services, and mature and stable technology of the Coocaa system 〡 Building on advanced AI recommendation algorithms, AIGC technology and robust automated intelligent operation platform, significantly enhanced users’ audio-visual experience through the application of smart poster and smart short video edit technologies 〡 Based on large model AI technology, the functional experience of TVs has been enhanced in terms of voice dialogue, child education and content search 〡 Launched Coocaa Super AI Agents (酷開超級智能體) that covered six major scenarios (audio and video, education, health, creation, lifestyle, device), which is the China’s first intelligent system evaluated by the China Telecommunication Technology Laboratory of the China Academy of Information and Communications Technology to reach the “excellent” level in full-chain technical capabilities
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// 17 Smart Systems Technology Business Seizing Opportunities in Industry Technological Transformation Consistently Increasing R&D Investment Upgrading Smart Device Products to Greater Intelligence and Multimodal Capabilities 〡 Maintaining market share in traditional stronghold segments, while substantially expanding into new business segments including smart devices, XR and automotive display. The smart device sales volume, revenue scale and profit increased significantly YoY 〡 With deepened engagement with telecommunications operators and digital TV operators, excelling in key centralised procurement projects from major clients to achieve comprehensive breakthroughs across multiple product categories 〡 Focused on the in-depth advancement of globalisation. Overseas access network products achieved YoY growth in both revenue and shipments. The Nex Playground motion-sensing gaming box demonstrated strong sales momentum in North America markets and drove substantial revenue growth. The enterprise shipments for AI Smart Glasses have begun in B2B channels and the EGO data acquisition device secured batch orders 〡 The automotive display business achieved breakthrough progress in 1H2026, and continues to expand its portfolio
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// 18 New Energy Business Striving to Drive Innovation and Growth across the Entire Industrial Chain Cumulative Installed Capacity of PV Power Stations Built and Under Grid-connected Operation >34.6GW Aiming to Meet Higher Green Building Standards Adapting to Diverse Application Scenarios Introduced the industry’s first BIPV product which perfectly aligns “user demands + product functionality,” offering users a PV product that combines profitability, practicality and aesthetic appeal “SolaVilla” (藝墅家) “Watt’s Up” (能亮站) Offered customised products that comprehensively cover the needs of the industrial and commercial market and construction scenarios, striving to achieve social and economic benefits “SolaPark” (零碳園) “SolaZone” (零碳吧) “SolaShell” (金龍鱗) “SolaPort” (綠行驛站) 〡 Leveraging an innovative business model of “Photovoltaics + Inclusive development + Digital technology” to provide comprehensive solutions across the entire lifecycle such as power station development, design, construction, operation, management and consulting services, establishing a service system of efficient service and quality control 〡 Build a smart energy ecosystem for global customers through “high-quality products + construction of power stations to high standards + efficient & intelligent management systems”, combined with capabilities in high-end digital energy products 〡 Established a multi-party collaborative network involving “Industry +Academia + Research + Finance” through strategic partnerships, ensuring long-term capital support and a full-spectrum material supply chain
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// 19 New Energy Business Further Optimising Resource Allocation and Unlocking Power Station Value Dual-brand, Multi-models and Multi-business Strategies Advancing Global Expansion Guarantee safety for customers One-stop customised clean energy solutions and comprehensive services Qualified EPC contractor 〡 Unveiled the fully upgraded digital platform, InfraCosmos Platform (羲寰能源). Leveraging capabilities such as the IoT, big data and AI, it highlights three major digital energy product capabilities: project management, intelligent operation and maintenance, and energy operations. It aims to further optimise resource allocation and unlock the value of power stations, providing digital support for the safety, market potential and long-term appreciation of new energy assets 〡 Launched the “Watt’s Up” (能亮站) series. Offering users a one-stop, cost-effective green energy photovoltaic and storage solution, featuring comprehensive support including one-stop services, products developed and manufactured in-house, round-the-clock AI-powered intelligent O&M and real-time monitoring. It covers a diverse range of electricity consumption scenarios and creates an integrated, closed-loop system encompassing power generation, storage, consumption and management, enhancing the efficiency and stability of power generation and O&M
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// 20 Modern Services Business and Others Continuously Strengthening Mutual Empowerment among Business Units 〡 Focus on supply chain management and promote strategic cooperation with major suppliers to provide diversified services 〡 In terms of capital operations, focus on the financial platform function with the finance company as the core, supplemented by venture capital funds and small loans, deeply capitalise on the policy advantages of the “integrated foreign and domestic currency capital pools for multinational companies”(跨國公司本外幣一體化資金池) to optimise the cross-border cash flows and expanded the financing structure 〡 Leveraging the organisational strength of the enterprise to enhance mutual empowerment among business units, and provide supports and empower synergies for the Group’s scientific research, investment, production, procurement and construction 〡 Adhere to a prudent strategy, optimise the asset structure while carefully managing risks associated with valuation fluctuations to ensure the long-term health of the Group’s overall working capital and asset quality Skyworth Semiconductor Design Tower Skyworth Innovation Valley Industrial Park Skyworth Overseas Development Tower Constantly Implementing Organisational Optimisation Accelerating New Businesses and New Development Models Integration and Expansion
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// 21 〡 Operate under an ISO 50001:2011 certified Energy Management System, and embedded an ISO 14001:2015-certified environmental management system across operations 〡 Occupational safety management system reached ISO 45001 standards that are consistent with international norms 〡 Installed solar PV panels of 60,000m2 installable area in the Industrial Park which is equipped with atmospheric control areas of Class 1, water protection area, rubbish recycling area and sewage treatment station and greenery area ESG: Achieving Higher Efficiency and Reducing the Environmental Footprint Production Design Concepts of Environmental Protection Operational Energy Saving Clean Energy Four Major Environmental Polices Consider the use of recycled materials and implant structural design on products: • Simplify design to increase mould utilisation • simplify production process Embed the green concepts into the overall supply chain: • Environmental packaging design • Support green laboratory R&D to produce environmentally-friendly products Reduce unnecessary waste of resources: • Increase E-processing to promote a paperless culture • Optimise usage of natural lighting and waste management • Adopt adjustable air-conditioning Increase utilisation of clean energy: • Utilise solar power, light hybrid power generation system • Developed a water recycling system
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ANNUAL PROSPECT
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// 23 〡 Deploy multi-modal AI products and technologies 〡 Strengthen in-house R&D capabilities and expand technological frontiers 〡 Drive precise product planning and gain user insights AI Innovation Development Strategy: Actively Driving the Leapfrog Advancement of Technologies, Scenarios and Ecosystems 〡 Optimise the allocation of international resources 〡 Precise product strategies and channel approaches 〡 Strengthen the synergistic effects of full category sales Internationalisation Strategy
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// 24 Upholding the Ecological Intelligence Concept of “Eco-Smart” Proactively Positioning in the Emerging Blue Oceans of Smart Technologies and Green Industries 〡 Integrate digital technology and smart home appliance solutions based on the Skyworth’s new energy ecosystem, to create a zero-carbon smart lifestyle for users covering the whole ecosystem 〡 Committed to building smart home appliances and Double Carbon ecological brands, expanding a full range of smart home content services 〡 Actively invest in green industries, establish a global development model driven by the dual engines of “products + services”, strive to transform the smart energy ecosystem into concrete and quantifiable business outcomes Development Strategy: From Smart Appliances to Double Carbon Ecology
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Appendix
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// 26 (RMB million) 30.06.2026 31.12.2025 Change 31.12.2024 Inventories 21,163 15,644 35.3% 10,829 - Finished goods 10,609 9,177 15.6% 6,284 Inventories turnover period (days) 101 80 21 69 Bills receivables 1,371 2,014 (31.9%) 2,343 Trade receivables 13,048 9,809 33.0% 10,991 Trade receivables turnover period (days) 62 65 (3) 70 Cash position 12,790 12,270 4.2% 11,785 - Pledged and restricted bank deposits 2,796 2,976 (6.0%) 3,437 - Bank balances and cash 9,994 9,294 7.5% 8,348 Appendix 1 Inventories and Cash Flow
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// 27 (RMB million) 30.06.2026 31.12.2025 Change 31.12.2024 Current bank borrowings 15,075 12,717 18.5% 9,387 Non-current bank borrowings 8,676 5,314 63.3% 6,918 Other borrowings 1,707 1,480 15.3% 78 Total interest-bearing borrowings 25,458 19,511 30.5% 16,383 - Secured 5,499 4,734 16.2% 4,403 - Unsecured 19,959 14,777 35.1% 11,980 Total trade and bills payables 22,349 19,421 15.1% 17,355 Trade payables 17,174 14,912 15.2% 12,883 Bills payables 5,175 4,509 14.8% 4,472 Net assets 23,823 23,060 3.3% 23,138 Appendix 2 Financial Position
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// 28 (RMB million) 30.06.2026 31.12.2025 Change 31.12.2024 Current assets 63,012 53,267 18.3% 49,722 Current liabilities 50,379 44,492 13.2% 37,334 Net current assets 12,633 8,775 44.0% 12,388 Non-current assets 24,081 23,237 3.6% 20,286 Non-current liabilities 12,891 8,952 44.0% 9,536 Net assets 23,823 23,060 3.3% 23,138 - Equity attributable to owners of the Company 17,967 17,479 2.8% 18,238 Current ratio 1.25x 1.20x 0.05x 1.33x Debt to equity ratio* 106.9% 84.6% 22.3 pp 70.8% Return on equity (ROE) 7.0% 2.0% 5.0 pp 3.1% * Debt to equity ratio = Total interest-bearing borrowings/total equity Appendix 3 Key Financial Indicators
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// 29 2 Coocaa IoT Platform 8 Air Conditioner * Mr. Wong Wang Sang, Stephen has been acting as a consultant of the Group since August 2012. Mr. Wong Wang Sang, Stephen is the founder of the Skywell group of companies which are engaged in the manufacturing of cars under the brand “ 創維汽車Skyworth” covered by the trademark transfer agreement dated 26 March 2021 entered into between Skyworth Group Co., Ltd. and Sky -well New Energy Automobile Group Co., Ltd., details of which are set out in the Group’s announcement date 26 March 2021 Appendix 4 From Smart Appliances to Double Carbon Ecology 1 TV 3 Set-top Box 4 Access System 5 PV Power Generation 6 Energy Storage System 11 Charging Station System9 Kitchen System 10 New Energy Vehicles*7 Refrigerator & Washing Machine
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30 For more information, please contact IR Department: ir@skyworth.com or visit the Company’s IR website (http://investor.skyworth.com) THANK YOU