HK Stock Market Move | Hisense Home Appliances Group (00921) fell nearly 6%, with third-quarter net profit attributable to shareholders decreasing by 5.4% year-on-year. External sales are under short-term pressure.

Hisense Home Appliances Group (00921) fell nearly 6%, dropping 5.75% to 22.62 Hong Kong dollars as of the press release, with a trading volume of 1.03 billion Hong Kong dollars. On the news front, Hisense Home Appliances Group released its performance for the first three quarters, achieving operating income of 71.5327 billion yuan, a year-on-year increase of 1.35%; net profit attributable to shareholders of listed companies was 2.8118 billion yuan, a year-on-year increase of 0.67%. Looking at the third quarter alone, the company achieved revenue of 22.19 billion yuan, an increase of 1.16% year-on-year; achieving net profit attributable to shareholders of 7.4 billion yuan, a decrease of 5.4% year-on-year. Huatai believes that the performance is mainly affected by the weak performance of central air conditioning and fluctuations in exports, leading to pressure on revenue and net profit in Q3. Industrial pointed out that the performance of the 25Q3 categories was mixed, with domestic sales relatively stable and exports under short-term pressure. According to industry online statistics, the sales of Hisense multi-split air conditioners in 25M7-8 increased by 2.1% year-on-year (domestic sales increased by 2.7% year-on-year, exports decreased by 3.1% year-on-year), the sales of Hisense home air conditioners in 25Q3 increased by 4.7% year-on-year (domestic sales increased by 40.7% year-on-year, exports decreased by 19.8% year-on-year), and the sales of Hisense refrigerators in 25M7-8 increased by 3.4% year-on-year (domestic sales increased by 25.9% year-on-year, exports decreased by 7.6% year-on-year). Overall, it is expected that the company's domestic sales performance in 25Q3 will be relatively stable, with home appliances performing better than central air conditioning, while exports will be under short-term pressure.