20100121_CLSA Access Day_Slide.pdf

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20100121_CLSA Access Day_Slide.pdf

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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