SKYWORTH GRP LTD UNSP/ADR - SWDHY STOCK NEWS

SKYWORTH (SKW) wows CES 2024 with cutting-edge outdoor TV innovations, showcasing the Clarus S1 4K UHD Full Sun Mini-LED TV and upcoming PS1 Partial Sun, both featuring Google TV. With over 30 years of technological leadership, SKYWORTH aims for global expansion and solidifies its position as the preferred choice for 400 million families.

On January 5, 2023, SKYWORTH unveiled its groundbreaking S1 Outdoor Google TV at CES 2023 in Las Vegas. This innovative product boasts a peak brightness of 3,000 nits and utilizes a 1,400+ Mini LED full-array backlight, ensuring superior performance even in bright sunlight. The S1 supports Dolby Vision and HDR10, and features a robust 8-speaker system with Dolby Atmos. SKYWORTH also highlighted the Coolita OS, which offers advanced media capabilities. Notably, overseas sales of OLED TVs surged over 20% year-over-year in 2022, with substantial growth in larger TV sizes.

SKYWORTH announces the launch of the Clarus Outdoor Google TV, the first of its kind designed for outdoor use, set to be available for pre-order starting Jan. 1, 2023. This innovative TV features over 1400 Mini LED backlighting, achieving peak brightness of 3000 nits, outperforming competitors in direct sunlight. Its 8-speaker system offers immersive sound with Dolby Atmos technology. Additionally, the Clarus TV is engineered for durability, being waterproof, dust-proof, and resistant to extreme temperatures, making it ideal for outdoor environments.

On March 31, 2021, SKYWORTH launched the SKYWORTH W82, the world's first mass-produced transformable OLED TV, and the SKYWORTH W92, the industry's first 8K OLED 120Hz TV with Audio Glass Sound technology. The W82 features a flexible screen allowing for curvature adjustments and a 4K 120Hz OLED display, priced at approximately USD 4,575. Meanwhile, the W92 boasts 8K resolution and innovative audio technology, priced around USD 30,499. Both models aim to enhance the home entertainment experience and demonstrate SKYWORTH's commitment to technological advancements in the TV industry.

Skyworth Group Co. Ltd. reported strong financial results for the first half of 2020, with a turnover of 15.98 billion yuan (approx. US$2.33 billion) and a gross profit of 3.09 billion yuan (approx. US$451 million), translating to a gross profit margin of 19.3%. Profits before and after non-controlling interests rose by 64.66% and 116.02%, reaching 573 million yuan and 391 million yuan respectively. The multimedia business generated 9.39 billion yuan (approx. US$1.37 billion), with internet services seeing a 34.6% increase due to the pandemic-driven demand.