According to a report published by CICC, Hisense Home Appliance's revenue for the first three quarters of this year was 67.014 billion yuan, down 6.3% year on year; net profit to mother was 1,849 billion yuan, down 34.2% year on year. Among them, revenue for the third quarter was 20.048 billion yuan, down 8.8% year on year; net profit to mother was 191 million yuan, down 74% year on year, lower than the forecast. According to the bank, poor performance expectations are mainly due to increased external pressure such as rising raw materials and shipping costs. Domestic demand has not recovered significantly, and product structure upgrades are progressing slightly slowly, putting pressure on the HVAC business profits. The bank lowered its 2026 and 2027 net profit forecasts by 33.6% and 31.2%, respectively, to $2,011 billion and $2,246 billion, respectively, to maintain the “outperforming industry” rating, and lowered the target price of H shares by 15.7% to HK$21.5, and the target price for A shares also decreased by 12.4% to $25.5.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.