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01810 XIAOMI-W
RTNominal unchange19.520 0.000 (0.000%)
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10/12/2018 12:16

[I-bank focus]Skyworth sees keen competition in local market

[ET Net News Agency, 10 December 2018] Daiwa Research has recently hosted a post-1H
FY2019 results NDR for Skyworth Digital (00751). The company sees intensifying competition
in its domestic market from new entrants including Xiaomi (01810) and Huawei.
For its overseas expansion, Skyworth continues to follow a disciplined approach in
acquiring foreign TV brands. Skyworth also invests heavily in smart TVs (via Coocaa) to
drive its long-term growth.
Despite the turnaround in profitability in 1H FY2019 from a net loss in 1H FY2018, the
company believes its 1H FY2019 results have been negatively impacted by (1) stronger
competition in China, (2) depreciation of emerging market currencies which impacted its
overseas business, and (3) decline in margin of its domestic market due to rising online
product mix and rebates to retailers.
Daiwa currently does not rate Skyworth. (KL)

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