Hisense Kelon Electrical Holdings Company Limited Provides Earnings Guidance for the Third Quarter and Nine Months Ended September 30, 2017
October 13, 2017 at 10:16 am
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Hisense Kelon Electrical Holdings Company Limited provided earnings guidance for the third quarter and nine months ended September 30, 2017. For nine months, the company expects net profit attributable to the shareholders of the listed company to increase by 80%-110% (Profit: RMB 1,554 million - RMB 1,813 million) as compared to the corresponding period last year profit of RMB 863 million and expects basic earnings per share of approximately RMB 1.14 - RMB 1.33 compared to the corresponding period last year profit of RMB 0.63.
For the quarter, the company expects net profit attributable to the shareholders of the listed company to increase by 190%-275% (Profit: RMB 882 million - RMB 1,141 million) as compared to the corresponding period last year profit of RMB 304 million and expects basic earnings per share of approximately RMB 0.65 - RMB 0.84 compared to the corresponding period last year profit of RMB 0.22. The main reason for the growth in the Company's results was that the Company disposed the equity interest in Foshan City Shunde District Baohong Property Management Company Limited in the third quarter, resulting in a substantial increase in the non-recurring gains or losses. Furthermore, the house-hold air-conditioners business of the Company and the commercial air-conditioners business of Qingdao Hisense Hitachi Air-Conditioning Systems Co. Ltd. continued to maintain rapid growth, leading to improvement in the operating results of the Company.
HISENSE HOME APPLIANCES GROUP CO., LTD., formerly Hisense Kelon Electrical Holdings Co.,Ltd, is a China-based company principally engaged in the development, manufacture and distribution of home electric appliances. The Companyâs main products include barrel washing machines, rotary drum washing machines, on-hook air conditioners, cabinet air conditioners, side by side combination refrigerators, multi-door refrigerators, computer refrigerators and mechanical refrigerators, among others. The Company distributes its products under the brand names of Hisense, Ronshen and Kelon. The Company distributes its products in domestic market and to overseas markets.