Skyworth Group Limited reported FY2025 revenue of RMB 70.32 billion, up 8.2 % year on year, driven by gains in Smart Household Appliances and New Energy operations. Group gross profit rose 2.3 % to RMB 9.01 billion, but gross margin slipped 0.7 percentage points to 12.8 % on higher raw-material costs and weakness in property-related services.
Profit for the year fell 27.8 % to RMB 837 million, while profit attributable to owners dropped 37.3 % to RMB 356 million. Basic and diluted EPS declined to RMB 17.79 cents from RMB 24.59 cents. The board recommended no final dividend.
Segment performance • Smart Household Appliances: revenue RMB 35.66 billion, +6.5 %. • Smart Systems Technology: RMB 8.52 billion, flat year on year. • New Energy: RMB 23.69 billion, +16.5 %, with cumulative installed PV capacity above 29.3 GW. • Modern Services & Others: RMB 2.62 billion, –8.5 %, hurt by a subdued property market and impairment provisions.
Geographic split Mainland China generated RMB 52.15 billion (+5.5 %), representing 74 % of total sales. Overseas revenue reached RMB 18.34 billion (+16.3 %), or 26 % of group revenue, with Asia ex-China accounting for 45 % of offshore sales, followed by the Americas (24 %), Europe (21 %) and Africa (9 %).
Cash flow & balance sheet Net cash from operations rebounded to RMB 2.26 billion (FY2024: –RMB 0.51 billion). Cash and cash equivalents were RMB 9.29 billion, up 11.3 %. Net current assets declined to RMB 8.78 billion, while total interest-bearing borrowings rose to RMB 19.51 billion, lifting the debt-to-equity ratio to 84.6 % (FY2024: 70.8 %).
Capital allocation During the year the company repurchased 342.21 million shares for approximately HKD 1.06 billion and cancelled them. No dividends were paid or proposed.
Post-balance-sheet event On 20 January 2026 the board announced a proposal to privatise the company via a share buy-back scheme of arrangement under Bermuda law and to distribute the company’s H-share holding in Shenzhen Skyworth Photovoltaic Technology Co., Ltd. to shareholders, which would result in Skyworth Group’s shares being delisted from the Hong Kong Stock Exchange, subject to satisfaction of specified conditions.
Outlook statements in the announcement highlight continued focus on AI-driven product innovation, expansion of new-energy operations and acceleration of global market penetration, while maintaining prudent financial management in a volatile macro-environment.
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