20100121_CLSA Access Day_Slide.pdf

下载文档 降价啦

22
0
约1.63万字
约 35页
2017-04-09 发布于江苏
举报
版权申诉
保障服务

20100121_CLSA Access Day_Slide.pdf

1、本文档共35页，可阅读全部内容。
2、有哪些信誉好的足球投注网站（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。
3、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
4、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。

20100121_CLSA Access Day_Slide

1CLSA HK/ China Access Day 21 January 2010 2Forward Looking Statement This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results of operations and businesses of Skyworth. 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. 3Solid Achievements in 1H 2009/10 Historic Results Turnover 36% Gross Profit Margin 4.1 pp Expenses Rate 2.1 pp Profit 530% ROE 23% Leading Position No. 1 LCD TV market share in China (20%*) Overseas TV turnaround Overseas digital set top box double revenue, GP% 7.8pp LCD module turnover 25.6% * Source : Displysearch Oct 2009 4China TV 83.7% (75.6%) Overseas ODM TV 6.2% (13.7%) HK$ 10.0bn 35.7% Digital Set-top box 8.2% (8.6%) Others 1.9%(2.1%) * Revenue Breakdown by Products 1H2009 (1H2008) 90% Revenue Generated in China Market under Brand * Others include property rental, LCD module, precision molding and car electronics 5Gross Profit Margin Growth 11.7% 7.8pp12.5%20.3%ODM Set-top Box Group Sep 09 Sep 08 Change pp Mar 09 22.7% 18.6% 4.1pp 20.3% China TV 23.4% 20.4% 3.0pp 22.5% Overseas ODM TV 4.8% 2.5% 2.3pp 4.4% China Set-top Box 33.8% 35.4% 1.6pp 34.7% ? China TV: Pioneer, well differentiated and market received icon models, flexible sales strategies and upstream strategic partnerships ? Digital STB: Blended GP 27.6%, launching full high definition box with higher ASP in China; more orders to cable operators in overseas ? Overseas TV: Turnaround, more strategic LCD TV OEM customers 6Segmental Profit by Business Segments 9 13 27 29 116 137 -2 9 194 647 344 835 -5 95 19 5 29 5 39 5 49 5 59 5 69 5 79 5 89 5 Property Holding O