A few days ago, Skyworth's set-top box business was finally formally separated from the group and opened its doors in A shares. This means that this profitable small box will help Skyworth Digital, which has always been committed to changing the structure of a single product, in the future, and will walk more steadily on the road to diversification.
This list of plans for a decade of dreams and dreams has also been regarded by the outside world as the founder of Huang Hongsheng's long-cherished wish. His ultimate goal is to send Skyworth Digital to the 100 billion club.
Sun Dongwen, president of Skyworth Group, said in an interview with the Times Weekly reporter that the set-top box is a market that will never disappear. "With the continuous development of set-top box technology, the shape of set-top boxes will become more and more abundant, and the stock market will not grow smaller and smaller, but will grow bigger and bigger."
Split box listing
A few days ago, Skyworth Digital Holdings Limited made an announcement regarding the spin-off of its set-top box business to the A-share market. According to the announcement, the newly added A shares of China Resources Jinhua have been issued to Shenzhen Skyworth-RGB and minority shareholders of Shenzhen Skyworth Digital Technology Co., Ltd., which accounted for 48.93% and 25.1% of the issued share capital of China Resources Jinhua respectively.
According to Skyworth’s earlier announcement, China Resources Jinhua issued 368 million shares to Skyworth Digital’s shareholders. The asset replacement transaction price for this round was determined to be approximately 530 million yuan, and Skyworth Digital’s Skyworth Digital TV set’s R&D, production and sales business is valued at RMB 3.5 billion. Yuan placed Huarun Jinhua. Among them, the difference of RMB2.96 billion between the placement of assets and the placement of assets was purchased by the company to all shareholders of Skyworth Digital. China Resources Jinhua will implement the payment at a transfer price of 8.06 yuan per A share.
The stock has landed on the Shenzhen Stock Exchange on September 26, 2014. Shenzhen Skyworth-RGB holds a total of 58.54% of the issued share capital.
According to public information, since its establishment in 2001, Skyworth Digital has become the largest digital set-top box manufacturer and distributor in China and ranks among the top five global manufacturers of set-top boxes.
According to the consolidated report released by Skyworth Digital, its net profit was 267 million, 303 million, and 366 million yuan from 2011 to 2013, with revenues of 2.962 billion, 3.408 billion, and 3.602 billion yuan, respectively. The forecast is also expected to increase by 12% to reach 4.031 billion yuan.
Yang Dongwen pointed out to reporters earlier that the split-up listing of Skyworth could create more financing platforms for enterprises to realize their future strategies. At the same time, they will use shares to incentivize the core team, which will help improve the company's governance structure and improve its management level.
Huang Hongsheng’s wish
In fact, Skyworth had long thought of splitting the set-top box business into the market. In 2004, Huang Hongsheng first proposed that the digital set-top box business could be listed as a premium asset in the future. However, this plan had to be put on hold with Huang Hongsheng in jail. In the past ten years, Skyworth Digital’s three-announcement announcement plans to dismantle the set-top box business in domestic A-share IPOs, but all ended in failure.
In August 2012, Huang Hongsheng returned to Skyworth after being sentenced to a full sentence and was hired as a consultant to the group. According to his consulting contract, he received an annual consultation fee of RMB 960,000. The younger brother Huang Peisheng has also been employed as the deputy general manager of the manufacturing department of the color TV business unit since August 9, 2012. This is considered to be the signal that the Huang family has regained control of Skyworth. In fact, Huang Hongsheng never left Skyworth, and his control and influence on Skyworth is clearly increasing.
After Huang Hongsheng’s return, Skyworth, which has been playing steadily, is facing a speed increase. At the same time, Skyworth Digital, which has been financing conservatively, has also started active capital operations. In Huang Shengsheng's planned Skyworth growth path, the future is to achieve Skyworth's digital, set-top box business, and LCD module's three-point listing. The ultimate goal is to send 10 billion-level Skyworth into the "100 billion club." Huang Hongsheng proposed to achieve sales targets of 50 billion yuan in 2015 and 100 billion yuan in 2020, including the expansion of white-power business, the separation of Skyworth numbers, Skyworth Guangxian listing and so on.
In the first half of this year, as the favorable policies for home appliances were withdrawn, the performance of the color TV industry was bleak. In order to reverse the performance dilemma, Skyworth will vigorously develop other businesses beyond color TV. Among them, the steady performance of the set-top box and the white goods business division compensated the negative growth of sales of some core business color TV divisions. Set-top boxes and white goods each contributed HK$4.162 billion and HK$2.532 billion in revenue.
However, from the point of view of overall operating income, the gap between Skyworth and several other traditional color TV manufacturers is not small. In the 2013 financial year ending at the end of March this year, Skyworth’s total revenue reached HK$39.48 billion. The TCL Group, led by Huang Dongsheng alumnus Li Dongsheng, achieved an annual revenue of 85.3 billion yuan last year. According to the results announced by Hisense Group, its 2013 annual revenue was 93.2 billion yuan, a substantial increase.
This of course cannot but make Huang Hongsheng anxious, put forward the goal of sales of 100 billion yuan and personally promote the spin-off of the set-top box business. Industry sources pointed out that Huang Hongsheng's move is intended to increase the financing capacity of the STB business segment and increase the overall revenue of the entire Skyworth Group. However, whether it is a TV or a set-top box, it is now facing a fiercely competitive market.
Market still faces challenges
What are the prospects of Huang Hongsheng pushing the market for set-top box business? There is no consensus in the industry about the future of set-top boxes. Some people think that the set-top box is a transitional product. Since the smart TV products can already realize the built-in TV set-top box, the future set-top box will face elimination. Some people are very optimistic that the set-top box is the core of future living room entertainment and belongs to the Chaoyang industry. At the same time, rivals like LeTV and Xiaomi, from the Internet sector, have also concentrated their efforts on the box industry.
At the same time, the State Administration of Radio, Film and Television has been conducting high-pressure rectifications of Internet TV and Internet TV boxes for several months, issuing bans in order to require all types of third-party APPs in Internet TV terminal products to be removed from service or closed. There are still no signs of loosening.
Sun Dongwen, president of Skyworth Group, said in an interview with the Times Weekly reporter that the set-top box is a market that will never disappear. "With the continuous development of its set-top box technology, in addition to digital electronic set-top boxes and Internet set-top boxes, there will be various kinds of boxes such as game set-top boxes in the future, so this is a market that will never disappear. The stock market is not getting smaller and smaller, but The bigger and bigger."
According to the financial report, in 2013, the scale of Skyworth set-top boxes was 21.3 million units, with a growth rate of 26.7%, and the market accounted for the first place in the country. In addition, Skyworth set-top boxes achieved a turnover of 1.865 billion Hong Kong dollars overseas during the past year. In emerging markets, such as Southeast Asia, India and other regions, users are facing a large-scale digital transformation.
The data shows that in the next few years, the sales of domestic LCD TVs will still maintain the basic volume of 40 million to 50 million units per year, which will be the new carrier for the continued growth of digital set-top boxes.
According to industry sources, some remote rural areas in China still have a large market for set-top boxes. Most homes in the country use standard set-top boxes. They will also change to high-definition or even ultra-high definition TV set-top boxes in the future. Skyworth can upgrade its set-top boxes. Profit in the process. In the next five years, relying on the existing stock market and the TV market, which is still growing, the digital set-top box business is still full of opportunities.
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This list of plans for a decade of dreams and dreams has also been regarded by the outside world as the founder of Huang Hongsheng's long-cherished wish. His ultimate goal is to send Skyworth Digital to the 100 billion club.
Sun Dongwen, president of Skyworth Group, said in an interview with the Times Weekly reporter that the set-top box is a market that will never disappear. "With the continuous development of set-top box technology, the shape of set-top boxes will become more and more abundant, and the stock market will not grow smaller and smaller, but will grow bigger and bigger."
Split box listing
A few days ago, Skyworth Digital Holdings Limited made an announcement regarding the spin-off of its set-top box business to the A-share market. According to the announcement, the newly added A shares of China Resources Jinhua have been issued to Shenzhen Skyworth-RGB and minority shareholders of Shenzhen Skyworth Digital Technology Co., Ltd., which accounted for 48.93% and 25.1% of the issued share capital of China Resources Jinhua respectively.
According to Skyworth’s earlier announcement, China Resources Jinhua issued 368 million shares to Skyworth Digital’s shareholders. The asset replacement transaction price for this round was determined to be approximately 530 million yuan, and Skyworth Digital’s Skyworth Digital TV set’s R&D, production and sales business is valued at RMB 3.5 billion. Yuan placed Huarun Jinhua. Among them, the difference of RMB2.96 billion between the placement of assets and the placement of assets was purchased by the company to all shareholders of Skyworth Digital. China Resources Jinhua will implement the payment at a transfer price of 8.06 yuan per A share.
The stock has landed on the Shenzhen Stock Exchange on September 26, 2014. Shenzhen Skyworth-RGB holds a total of 58.54% of the issued share capital.
According to public information, since its establishment in 2001, Skyworth Digital has become the largest digital set-top box manufacturer and distributor in China and ranks among the top five global manufacturers of set-top boxes.
According to the consolidated report released by Skyworth Digital, its net profit was 267 million, 303 million, and 366 million yuan from 2011 to 2013, with revenues of 2.962 billion, 3.408 billion, and 3.602 billion yuan, respectively. The forecast is also expected to increase by 12% to reach 4.031 billion yuan.
Yang Dongwen pointed out to reporters earlier that the split-up listing of Skyworth could create more financing platforms for enterprises to realize their future strategies. At the same time, they will use shares to incentivize the core team, which will help improve the company's governance structure and improve its management level.
Huang Hongsheng’s wish
In fact, Skyworth had long thought of splitting the set-top box business into the market. In 2004, Huang Hongsheng first proposed that the digital set-top box business could be listed as a premium asset in the future. However, this plan had to be put on hold with Huang Hongsheng in jail. In the past ten years, Skyworth Digital’s three-announcement announcement plans to dismantle the set-top box business in domestic A-share IPOs, but all ended in failure.
In August 2012, Huang Hongsheng returned to Skyworth after being sentenced to a full sentence and was hired as a consultant to the group. According to his consulting contract, he received an annual consultation fee of RMB 960,000. The younger brother Huang Peisheng has also been employed as the deputy general manager of the manufacturing department of the color TV business unit since August 9, 2012. This is considered to be the signal that the Huang family has regained control of Skyworth. In fact, Huang Hongsheng never left Skyworth, and his control and influence on Skyworth is clearly increasing.
After Huang Hongsheng’s return, Skyworth, which has been playing steadily, is facing a speed increase. At the same time, Skyworth Digital, which has been financing conservatively, has also started active capital operations. In Huang Shengsheng's planned Skyworth growth path, the future is to achieve Skyworth's digital, set-top box business, and LCD module's three-point listing. The ultimate goal is to send 10 billion-level Skyworth into the "100 billion club." Huang Hongsheng proposed to achieve sales targets of 50 billion yuan in 2015 and 100 billion yuan in 2020, including the expansion of white-power business, the separation of Skyworth numbers, Skyworth Guangxian listing and so on.
In the first half of this year, as the favorable policies for home appliances were withdrawn, the performance of the color TV industry was bleak. In order to reverse the performance dilemma, Skyworth will vigorously develop other businesses beyond color TV. Among them, the steady performance of the set-top box and the white goods business division compensated the negative growth of sales of some core business color TV divisions. Set-top boxes and white goods each contributed HK$4.162 billion and HK$2.532 billion in revenue.
However, from the point of view of overall operating income, the gap between Skyworth and several other traditional color TV manufacturers is not small. In the 2013 financial year ending at the end of March this year, Skyworth’s total revenue reached HK$39.48 billion. The TCL Group, led by Huang Dongsheng alumnus Li Dongsheng, achieved an annual revenue of 85.3 billion yuan last year. According to the results announced by Hisense Group, its 2013 annual revenue was 93.2 billion yuan, a substantial increase.
This of course cannot but make Huang Hongsheng anxious, put forward the goal of sales of 100 billion yuan and personally promote the spin-off of the set-top box business. Industry sources pointed out that Huang Hongsheng's move is intended to increase the financing capacity of the STB business segment and increase the overall revenue of the entire Skyworth Group. However, whether it is a TV or a set-top box, it is now facing a fiercely competitive market.
Market still faces challenges
What are the prospects of Huang Hongsheng pushing the market for set-top box business? There is no consensus in the industry about the future of set-top boxes. Some people think that the set-top box is a transitional product. Since the smart TV products can already realize the built-in TV set-top box, the future set-top box will face elimination. Some people are very optimistic that the set-top box is the core of future living room entertainment and belongs to the Chaoyang industry. At the same time, rivals like LeTV and Xiaomi, from the Internet sector, have also concentrated their efforts on the box industry.
At the same time, the State Administration of Radio, Film and Television has been conducting high-pressure rectifications of Internet TV and Internet TV boxes for several months, issuing bans in order to require all types of third-party APPs in Internet TV terminal products to be removed from service or closed. There are still no signs of loosening.
Sun Dongwen, president of Skyworth Group, said in an interview with the Times Weekly reporter that the set-top box is a market that will never disappear. "With the continuous development of its set-top box technology, in addition to digital electronic set-top boxes and Internet set-top boxes, there will be various kinds of boxes such as game set-top boxes in the future, so this is a market that will never disappear. The stock market is not getting smaller and smaller, but The bigger and bigger."
According to the financial report, in 2013, the scale of Skyworth set-top boxes was 21.3 million units, with a growth rate of 26.7%, and the market accounted for the first place in the country. In addition, Skyworth set-top boxes achieved a turnover of 1.865 billion Hong Kong dollars overseas during the past year. In emerging markets, such as Southeast Asia, India and other regions, users are facing a large-scale digital transformation.
The data shows that in the next few years, the sales of domestic LCD TVs will still maintain the basic volume of 40 million to 50 million units per year, which will be the new carrier for the continued growth of digital set-top boxes.
According to industry sources, some remote rural areas in China still have a large market for set-top boxes. Most homes in the country use standard set-top boxes. They will also change to high-definition or even ultra-high definition TV set-top boxes in the future. Skyworth can upgrade its set-top boxes. Profit in the process. In the next five years, relying on the existing stock market and the TV market, which is still growing, the digital set-top box business is still full of opportunities.
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