Principal Activities

The Group is mainly engaged in the R&D, manufacturing and marketing of refrigerators, household air-conditioners, central air-conditioners, freezers, washing machines, kitchen appliances and other electrical products, as well as of moulds, automotive air conditioner compressors and integrated thermal management systems, and provides fullscenario smart home solutions centered on intelligent upgrading of household appliances.

Latest Results

The Group's profit attributable to shareholders for the 6 months ended 30-06-2025 amounted to RMB 2.08 billion, an increase of 3.0% compared with previous corresponding period. Basic earnings per share was RMB 1.5361. No dividend declared. Turnover amounted to RMB 49.34 billion, an increase of 1.4% over the same period last year, gross profit margin up 0.2% to 21.0%. (Announcement Date: 30 Jul 2025)

Business Review - For the six months ended June 30, 2025

1. HVAC Business

(1) Central air-conditioner business

The Company actively responded to the country’s call for carbon neutrality and adhered to the market orientation focusing on the demand of users. Through accurately deploying segmented industries, the Company led the development of the emerging industries and promoted the development of the HVAC industry towards integration and intelligence.During the Reporting Period, the Company maintained an industry leading position in the multi-connected machine business with a market share of over 20%.

i. In terms of home fit-out business, the Company tailored high-quality air solutions focusing on“functional integration, intelligent interaction, and energy efficiency”to users by leveraging on the cutting-edge technologies and innovative concepts.

The Hitachi brand re-defines the standard of modern home environment. Through functional integration and technological innovation, the new generation of Wisdom Villa All Sense Ai Ground Temperature Control System incorporates the five core functions of refrigeration, floor heating, fresh air, dehumidification and humidification, and deeply integrates AI intelligent control system to build a comprehensive and personalized indoor environment management system, bringing a new paradigm for modern home environment regulation. With its forward-looking technological innovation, outstanding product strength, and quality assurance, the system successfully won the 2025 AWE“Innovation Award”. At the same time, Hitachi’s household water business scale achieved a year-on-year growth of 13%.

Hisense brand led the whole house smart air solutions with innovative technologies, and launched the fresh air indoor units by incorporating all three of air purification, cleanliness, and oxygen enrichment equipped with self-developed Think Air healthy air management system, achieving active multi-dimensional adjustment of temperature, humidity, purification, and fresh air through deep integration of AI. According to the research data from AVC, Hisense 5G central air conditioners led the industry with the user satisfaction scoring 9.0 in the evaluation of the user satisfaction of 5G home central air conditioner. At the same time, through making forward-looking deployment of the heat pump new sector, the flagship Red Flame III series won the 2025 HPE China Heat Pump Exhibition Innovation Gold Award with leading technologies such as vapor injection enhanced heating (EVA) and full DC low-temperature booster enhanced compressor, providing our users with energy-saving, intelligent and comfortable experience.

York’s VRF brand continued to lead the top-freon and floor-water market, with a year-on-year growth of over 20% in scale. Meanwhile, it accelerated the layout of channel construction, with more than 140 new built stores in the first half of the year, including nearly 20 new built large stores, further strengthening the market coverage and brand influence. The YES-design series, launched to meet the demand of mid-end customers, innovatively upgraded the fan cowl and dual joint heat dissipation technology. The series are equipped with five high-precision temperature control sensors and multiple purification and antibacterial systems, which achieve refined indoor temperature control and 45℃high temperature outdoor cooling without attenuation, comprehensively improve the clean and comfortable experience, and strengthen the competitiveness of mid-end multi-connected machines.

ii. In terms of the engineering business, the Company deployed the segmented industry, with commercial multi-connected machine products continuously leading the industry in the deployment of cutting-edge technologies.

To further enlarge the scale of the old renovation market, the Company launched the new generation of commercial multi-connected Hitachi SET-FREE RIII and Hisense M3 series refresh machines. Utilizing the technological advantages of the new generation of commercial multi-connected machines, the Company developed a one-stop refresh and renovation plan through energy consumption analysis and digital management of old equipment. The signed contract amount of the old renovation projects in the first half of the year increased by 110% year-on-year. Specifically, the Hitachi SET-FREE RIII series won the Innovation Product Award at the 2025 International Refrigeration Exhibition.

At the same time, the Company expediated the implementation of its strategy of carbon neutrality by actively promoting the development of“photovoltaic-storage-direct current-flexible”buildings. Hisense’s direct drive series commercial multi-connected

systems were implemented in low-carbon demonstration projects of the high-end manufacturing industries in Fangshan District, Beijing, which is the largest direct drive commercial multi-conned project in the country. Hitachi’s standard IoT module SET-FREE AIII series was launched, setting new benchmark for imported brands with industry-leading APF 6.45 efficiency and three globally advanced technologies. York’s new generation YES-superⅢseries has significantly enhanced its competitiveness in high-end office spaces, smart healthcare, and other scenarios through its golden fin anti-corrosion technology, wide-adaptation refrigerant management technology, and Balance dynamic load control technology. Since its market debut in June, the series has achieved a year-on-year sales growth of over 25%.

iii. In terms of new industries, the Company’s energy-saving and low-carbon overall solutions contributed to the rapid growth of the second curve.

In the water heater segment, leveraging the industry’s first positive-pressure, liquid-floating, oil-free variable-frequency centrifugal technology featuring 10kV high-voltage, the centrifugal chiller applying this technology was awarded the 2025 Innovation Product Award at the Refrigeration Exhibition. In the industrial energy-saving retrofit sector, the Company successfully completed the commissioning and delivery of a positive-pressure, liquid-floating oil-free variable-frequency centrifuge for Foxconn Industrial Park.

Hisense Central Air Conditioner’s self-developed Smart HVAC ECO-B 2.0 System was awarded the sole Gold Medal in the Control Equipment & Systems category at the 2025 China Refrigeration Expo, earning high recognition in the industry. With the functional advantages of multi-dimensional air control, refined energy management, and predictive intelligent operation and maintenance, the system has been widely used in industrial and mining plants, large-scale venues, research institutions, and other scenarios. The contract amount for HVAC intelligent control increased by 140% compared to the same period last year.

(2) Household air-conditioner business

Taking“building air conditioner as the central indoor air housekeeper, improving the living environment and benefiting hundreds of millions of families”as the mission in household air-conditioner business, the Company focused on upgrading the technologies and products of Hisense and Kelon.

i. Hisense Air Conditioner integrates technologies for healthy, comfort, intelligence and energy-efficiency, delving into sports marketing and technological renovation and continuously pioneering the fresh air industry.

Hisense Air Conditioner has committed to providing users with high-quality products.During the Reporting Period, the Company collaborated with authoritative institutions including the Chinese Sleep Research Society and the China Household Electric Appliance Research Institute to release the White Paper on Fresh Air Conditioner for Sleeping《(新風空調睡眠白皮書》), which demonstrated that users can achieve 7 hours of good sleeping effect in the air environment comprehensively optimized by Hisense Fresh
Air Conditioner-equivalent to 8 hours of sleeping under traditional air conditioner environment, thus successfully developing the consumers’awareness of“Quiet operation with oxygenation, an extra hour of sleeping with deep sleeping one night.”Simultaneously, it launched multiple models of the official customized fresh air conditioner products for the FIFA Club World Cup 2025. The X3Pro series is equipped with the technologies of dual-flow fresh air for deep sleeping and AI evolutionary energy conservation. The X7Pro Series delivers breeze-free cooling comfort through its ceiling air control technology, and has won the 2025 AWE Innovation Award for its industry-leading“dual-flow fresh air exchange”and“triple purification”technologies. The high-end flagship Tresor C3Pro series made innovation in the AI air housekeeper function, delivering an all-round experience on 6-in-1. According to the monitoring data from AVC, Hisense Air Conditioner ranked Number 1 in terms of the online market share of the fresh air, among which sales of fresh air accounted for 43.9%, increasing by 12.3 percentage points year-on-year. This fully demonstrated Hisense Air Conditioner’s strong strength and users’recognition in the fresh air sector.

ii. Kelon Air Conditioners“quiet operation and energy-saving Max”series leads the technological upgrade in the industry, driving brand younger transformation.

Kelon Air Conditioner continued to deepen its brand proposition of“youth defines the trend”, relying on the marketing of the Club World Cup to strengthen the connection with young people. In the first half of 2025, Kelon Air Conditioner launched the flagship product“quiet operation and energy-saving Max”series, positioning it as a“quiet operation and energy-saving ceiling”to achieve rapid cooling and heating of cabinets and wall-hung machines in 15 seconds and 30 seconds respectively, with the noise level of wall-hung machines down to 15 decibel and the highest APF of cabinets reaching 5.1. This series won the dual certification of“ultra-high energy efficiency”from China Household Electric Appliance Research Institute and“ultra-high energy efficiency and rapid cooling and heating”from Jiadian Evaluation(嘉電評測) for its outstanding performance. After its launch in March, it had strong performance, driving a year-on-year increase of 24.7% in brand voice in the first half of 2025 and accelerating the process of brand rejuvenation strategy.

2. Refrigerator, Washing Machine and Kitchen Appliance Business

(1) Refrigerator Business

i. Ronshen refrigerator deepens the ecological layout of intelligent kitchen with intelligent-inspired freshness technology

With a 42-year history, Ronshen refrigerator is committed to becoming a leader in terms of the healthy food freshness-preservation technology. Through continuous innovation of“freshness preservation”technology, optimization of space utilization efficiency and implementation of green low-carbon concepts, it delivers healthy, convenient and sustainable intelligent kitchen living solutions for consumers. According to the omni-channel monitoring data from AVC, retail sales of Ronshen refrigerators increased by 9.7% year-on-year in the first half of 2025, boosting its market share by 1.3 percentage points, while the market share of Ronshen’s mid-to-high-end and high-end refrigerator products was 12.7%, a year-on-year increase of 1.4 percentage points.

In order to practice the concept of“maintaining the vitality of fruits and vegetables in the refrigerator”, the Company has launched the 606WILL Fresh Preservation Embedded Refrigerator, which adopts the WILL Natural Fresh Preservation System to create a“growth chamber”for fruits and vegetables that simulates a natural environment. The 60CM ultra-slim embedded design is consistent with the thickness of standard cabinets, reducing the wall thickness of the refrigerator by 44% and expanding the internal space by 25%, so as to fully meet the storage needs of users. To address consumers’concern about odors and bacteria, the 506 Dual Clean Max Refrigerator is equipped with the innovated and upgraded i-Smell Smart Sensing Dual Clean Max Technology. Equipped with built-in odor sensors, it can intelligently identify over 100 types of food odor sources, and monitor air quality in the refrigerator in real-time for instant alerting and activating purification procedure. The 506 Dual Clean Max Refrigerator achieved the“six-fold 9”(六重9) sterilization standard for the first time in the industry, and was awarded the title of“the 2025 Health Sterilization Pioneer Brand in the China Refrigerator Industry”. In response to the national subsidy policy for household electric appliances, Ronshen Refrigerator actively echoed and launched the policy of“enjoying up to 20% subsidy, with the national subsidy of up to RMB2,000, Ronshen offering subsidy for any excess amount”to activate the trade-in demand in the saturated market.

ii. Hisense refrigerator taps into vacuum freshness preservation to pioneer the molecular-level freshness preservation

Hisense Refrigerator focuses on vacuum magnetic field preservation technology. With the iteration of vacuum 4.0 technology, Hisense Refrigerator has meticulously delivered a vacuum molecular freshness locking solution for users to fully meet their personalized preservation needs in different scenarios. According to the omni-channel monitoring data from AVC, retail sales of Hisense Refrigerator increased by 8.6% year-on-year in the first half of 2025.

In order to keep every ingredient in an optimal condition and achieve“first-class freshness after seven-day sealed storage”, Hisense Tresor 606U7 delves into the cellular and molecular levels, creating a vacuum environment to inhibit the oxidation process of ingredients and constructing a dual protection system of“external resistance and internal inhibition”. It can also achieve independent temperature control in the refrigeration, freezing and variable temperature zones. When the variable temperature zone can be freely switched between -20℃and 5℃, it can not only meet the -18℃deep freezing needs of French foie gras, but also provide the -2℃micro-freezing environment for sashimi platters, perfectly solving the problem of differences in food storage. Through its molecular-level technology breakthrough and excellent freshness preservation effect, Hisense Tresor 606U7 won the 2025 AWE Innovation Award. In order to satisfy the demand for intelligence in modern households, Hisense Refrigerator is equipped with the built-in AI food housekeeper system and integrated with advanced Hi-Star intelligent models to establish a comprehensive food database. Users can freely choose the freshness preservation mode according to different needs such as ice freshness, fruits and vegetables, mothers and infants, etc, while the system will automatically adjust the vacuum degree, temperature and humidity, and oxygen concentration to ensure that the food is in an optimal condition. Focusing on vacuum freshness preservation with the“MVP OF FRESHNESS”as the starting point during the Club World Cup, Hisense Refrigerator enhanced the“Zzz”vacuum super symbol and created the advertising song“Zzz-fresh MVP”to significantly boost brand visibility and consumer recognition. In active response to the national green consumption policy, Hisense Refrigerator continued the after-sales service policy of“three-year full warranty for Hisense refrigerators and a twelve-year warranty for compressors and vacuum pumps”, to facilitate the development of national subsidies and accelerate the innovation of industrial models and structural upgrades.

iii. Hisense Freezer, setting high-end freezer quality benchmark through innovative air cooling technology

Leveraging the forward-looking layout and constant innovation in the field of air cooling technology, Hisense Freezer introduced the fifth generation of air circulation technology products to solve the three major core problems existing in the traditional air cooling freezers for a long time: ingredients air-drying, limited storage space, and the operation of the noise problem. During the first half of 2025, according to the omni-channel monitoring data from AVC, retail sales of Hisense Freezer increased by 4.4% year-on-year, and the market share of offline mid-to-high-end and high-end segments for Hisense Freezer product was 8.6%, representing an increase of 1.5 percentage points year-on-year; the market share of offline mid-to-high-end and high-end segments for Ronshen Freezer product was 12.0%, representing an increase of 2.0 percentage points year-on-year.

To create a storage environment for premium ingredients comparable to professional cold storage, Ronshen 203 Floor Standing Freezer integrates the -40℃ultra-fast fresh-freezing technology that leads the industry, to instantly keep the nutrition and freshness of the ingredients. Combining a 585mm ultra-slim seamless flat embedding design with efficient air-cooling frost-free technology, it provides more space and eliminates the trouble of defrosting. With its outstanding product performance, this model has continued to lead the industry in the first half of 2025 and has repeatedly been listed on TOP 1 Floor Standing Freezer in Terms of Sales of AVC.

(2) Washing Machine Business

Hisense Washing Machines concentrates its efforts on technological upgrades and scenario-based innovation, driving a growth of 37.58% in domestic main business revenue year-on-year, outpacing the industry growth rate. The brand has doubled its market share in mid-to-high-end and high-end segments, demonstrating sustained product mix enhancement. During the 6/18 shopping festival of 2025, the e-commerce sales scale of Hisense washing machines increased by 83% year-on-year, far exceeding the growth rate of the industry.

Building on sustained technological innovation and partitioned laundry needs, Hisense

launched the revolutionary Cotton Candy Ultra Family Drum in 2025, the world’s first 4-in-1 heat pump washer-dryer. Equipped with the Zeus integrated heat pump drying system, it perfectly combines a washing machine and a dryer in a standard size, achieving the same drying effect as a dedicated dryer. It significantly saves users’space occupation and truly realizes one-step washing and drying. The“split-type”design allows free splitting and stacking, enabling users to mix and match according to their needs, thus achieving a flexible experience of“having as many drums as desired”. It is also equipped with Hisense’s patented Living Water Washing technology, which activates, purifies, softens and sanitizes water during the washing process. This effectively removes special stains, achieves over 90% removal of lint and impurities from clothes, over 93% scale inhibition rate, and 99.99% fungi elimination. Moreover, it has raised the key indicator of washing ratio to 1.33, once again setting a new industry record and continuing its technological leadership advantage.

Hisense’s Family Series is available in three models, namely the Flagship Edition, Lite Edition, and Youth Edition, catering precisely to the laundry needs of different households and regions. Within just 30 days of launch, sales neared 10,000 units, with demand outstripping supply in the domestic market. Moreover, as a pioneer in category-specific washing and triple-drum washing machines, Hisense washing machines has taken the step of open-sourcing 66 patented triple-drum technologies to the entire industry. This move has drawn significant attention and marks a milestone transformation in the field of triple-drum partitioned laundry care.

(3) Kitchen Appliance Business

Kitchen appliances business adheres to user-centric approach to deliver high-quality products, and accelerates channel expansion to ensure high-speed growth with quality.

Adhering to the brand concept of“Global Technology and Healthy Kitchen”, in the domestic market, Hisense kitchen appliances leveraged hoods as a breakthrough driver while simultaneously aligning the core technologies of hoods, stoves, and dishwashers with industry benchmarks. By combining aesthetic innovation and differentiated technology, Hisense accelerated product iteration through a dual-track strategy. Offline, Hisense strengthened its foundation by capitalizing on its proprietary channel advantages, while also strengthening the coordinated integration of professional channels for kitchen appliances and traditional home appliance channels. Focusing on key models to boost terminal efficiency, Hisense sustained high growth in its kitchen appliance business.During the Reporting Period, offline retail revenue surged 52% year-on-year. The sales structure of online range hoods and stoves has been continuously upgraded, promoting a dual increase in the average price and gross profit margin of online channels.

3. Domestic Channel Development

(1) Seizing the Opportunities of the Nation’s“Two New”Policies to Lead Industrial and Consumption Upgrades

The Company has proactively responded to the government’s“trade-in”initiative by continuously upgrading its product mix. On one front, it has increased R&D investment in low-carbon, green and smart products, integrating carbon-reduction technologies into product design while focusing on energy efficiency improvements and accelerating the commercialization of green technologies. Concurrently, the Company has actively launched joint promotional campaigns with government/channels, offering consumer benefits through trade-in subsidies, package purchase discounts, and consumption voucher schemes. Driven by the“trade-in”policy, the Company has continuously achieved product mix upgrades. The installation completions of fresh air conditioner grew 83% year-on-year in the first half of the year. The Tresor premium product series delivered strong performance with revenue growing 48% year-on-year in the first half of 2025.

(2) Capturing Channel Touch Point Dividends to Transform Retail Model Driven by Data

The Company is committed to accelerating the integration of online and offline sales channels across its nationwide distribution network, seizing opportunities in diversified channel development, and driving continuous innovation in its omni-channel new retail ecosystem.

In terms of channel development, the Company’s self-operated channels maintained strategic focus, accelerated the coverage of its dual-channel sales network, enhanced capabilities in scenario-based experience, localised services, and brand trust building. In the first half of 2025, 1821 specialty stores were newly opened under self-operated channels, with revenue of specialty store increasing by 18% year-on-year; Emerging channels strengthened ecosystem collaboration with content-driven e-commerce platforms, achieving integrated traffic monetization and enhanced reach among high-net-worth individuals, thereby unlocking new growth drivers in existing markets. Notably, Douyin channel revenue surged 51% year-on-year in the first half of the year, while the assets of the 5A group, which was engaged in repurchasing and actively recommended products, increased by 82% year-on–year.

In terms of digital transformation of channels, it integrated local lifestyle services through traffic platforms such as Douyin, Meituan, and Gaode, enabling full-chain innovation in user interaction, transactions, and fulfillment. In addition, by advancing transformation initiatives in digital channels, digital stores, and digital marketing, it expedited the evolution of its retail model and enhanced channel operational efficiency, warehouse and delivery performance, as well as the return on marketing investments.

4. Overseas Markets for Home Appliances Business

During the Reporting Period, Hisense sponsored FIFA Club World Cup 2025 and capitalized on sports marketing to actively build five regional engines overseas and deepen localization efforts.

(1) Europe Region

During the Reporting Period, Hisense’s European Division fully leveraged the opportunity of the World Cup, continually refined the mid-to-high-end product portfolio, enhanced cost competitiveness, improved channel efficiency, and drove revenue growth of 22.7% year-on-year in the first half of the year. Specifically, the market share of refrigerators in

Europe Region from January to May 2025 increased by 1.75 points year-on-year. The European Air Conditioner R&D centre was successfully launched, with revenue of air-conditioner business in Europe increased by 34.5% year-on-year; washing machine revenue increased by 38.9% year-on-year.

(2) Americas Region

During the Reporting Period, leveraging the World Cup as a super IP, Hisense’s Americas region intensified its digital marketing efforts. Through initiatives such as the“KOL City Mission Challenge”, the Company enhanced its technology-driven brand image, strengthened the penetration of event-related benefits at the consumer level, and boosted sales conversion during the tournament. In the first half of 2025, the American Division achieved a year-on-year revenue growth of 26.2%. Among them, the revenue of home air- conditioner increased by 19.3% year-on-year; revenue from washing machines increased by 71% year-on-year; the revenue of central air-conditioner increased by 59% year-on-year.

(3) Middle East and Africa (MEA) Region

During the Reporting Period, leveraging the advantages of operations and R&D centers of the Middle East and Africa (MEA) Region, the Company continued to deepen its understanding of user needs, vigorously promoted high-end premium products, and fully utilized sponsorship rights for the World Cup and Real Madrid to further enhance the Hisense brand. In the first half of 2025, the MEA Division’s revenue increased by 22.8% year-on-year. Among them, household air-conditioner business launched the MEA R&D centre to quickly capture market changes, with revenue increased by 28.9% year-on-year, and light commercial appliance revenue increased by 20.1% year-on-year; Washing machine revenue increased by 21.7% year-on-year.

(4) Asia-Pacific Region

During the Reporting Period, Hisense restructured its brand value in Asia-Pacific Region, strengthened the construction of channels, accelerated the iteration of mid-to-high-end products such as over $1,000 refrigerators, air conditioners with functions such as self-cleaning and WiFi, and drum washing machines, and promoted customized solutions to consumers. In the first half of 2025, the Asia-Pacific Region’s revenue increased by 14.5% year-on-year. Among them, household air-conditioner and light commercial appliance revenue increased by 12.3% year-on-year, and washing machine revenue increased by 9% year-on-year.

(5) ASEAN Region

The ASEAN region focused on core product categories, expanded the chain network, improved the efficiency of the retail system, and increased resources to promote mid-to-high-end products such as side-by-side and multi-door refrigerators, washer-dryers, and fresh air conditioners. In the first half of 2025, the sales volume of side-by-side refrigerators increased by 46% year-on-year; the washing machine business continuously upgraded the running water washing technology, thereby achieving a 55% year-on-year revenue growth. The air conditioner business has been continuously making efforts in

professional channels and brand building, with its self-owned brand revenue accounting for over 80%. The central air conditioner business revenue increased by 26% year-on-year.

5. Automotive Air Conditioner Compressor and Integrated Thermal Management System Business

Under the global energy transition and automotive intelligence trend, facing intensified price competition among automakers as well as geopolitical and exchange rate fluctuations, Sanden Company aimed to achieve performance improvement by focusing on the new energy sector and providing efficient, energy-saving, and reliable thermal management solutions, continuously serving global automotive customers. In the first half of 2025, Sanden Company represented a year-on-year revenue growth of 3%.

(1) Significant breakthroughs were made in both traditional and new energy businesses by fully leveraging the global collaboration mechanism.

In the first half of 2025, Sanden Company obtained new franchises RMB6.9 billion, laying a solid foundation for the continuous and stable growth of subsequent orders. Meanwhile, Sanden Company attached great importance to R&D investment, driving the Company to achieve industry leadership in new-generation compressor, natural refrigerant integrated units and others, and enabling rapid improvement in its revenue structure within the next few years.

Sanden actively expanded its global market through measures such as front-end marketing technology. In China, Sanden successfully secured new customers and received orders for new products such as ECH, while accelerating collaborative innovation with key customers in new product technologies, particularly in areas like new refrigerants ITMS and advanced HVAC systems. In Europe, Sanden expanded and deepened its collaboration with European strategic partners, leveraging its strengths in mechanical compressors to secure orders for mechanical compressors on strategic customers' main platforms, thereby solidifying its industry position. In the Americas, Sanden secured orders for electric compressors from key customers, continuing to expand its new energy business footprint.In Japan, Sanden deepened collaboration with key customers on new product technology development, securing orders for its flagship electric compressor platform.

(2) Continue to promote cost reduction and efficiency improvement, enhance asset operation efficiency, strengthen capital management, and restore independent and autonomous operational capabilities.

In the face of increasingly fierce competition in the automotive parts market, Sanden Company made great strides in cost optimisation in the first half of the year, continuing to implement measures to improve manufacturing and management efficiency. It also significantly improved personnel and operational efficiency through organisational and process optimisation, functional integration, and the divestiture of low value-added businesses. Concurrently, Sanden Company strengthened management of fixed asset investments and operating cash flows, optimised existing fixed assets to enhance their utilisation efficiency, conducted thorough and prudent assessments of fixed asset investment projects, improved operating cash flows by reducing inventory and accounts receivable levels, gradually reduced reliance on external borrowing and guaranteed loans, and implemented necessary counter-guarantee measures.

Organisational structure optimisation would increase operating costs in the short term, but in the long term, structural optimisation and efficiency improvements would effectively enhance the company's long-term competitiveness, gradually improve its profitability, improve its debt structure, and bring about sustained development for the company.



Source: Hisense HA (00921) Interim Results Announcement