Who is better, Hisense Home Appliances or Hisense Video?
On the evening of March 29th, Hisense, a listed company, issued financial reports. Hisense’s household appliances revenue was 85.6 billion yuan, and Hisense’s video revenue exceeded 53.6 billion yuan. Both companies’ revenues increased by ten digits. Among them, the net profit growth rate of Hisense’s home appliances is nearly 98%, and its profitability is good.
Specifically, Hisense’s household appliances HVAC revenue accounted for more than 45%, exceeding 38.6 billion yuan; Hisense’s video TV business revenue accounted for more than 77%, close to 41.3 billion yuan. As of the close of March 29th, Hisense Video closed at 23.91 yuan/share, an increase of 1.14%; Hisense home appliances closed at 30.42 yuan/share, up 1.91%.

Hisense’s household appliances revenue was 85.6 billion yuan, and HVAC revenue exceeded 38.6 billion yuan.
Hisense’s household appliances are mainly engaged in refrigerators, household air conditioners, central air conditioners, freezers, washing machines, kitchen appliances and other electrical products, as well as molds, automobile air conditioners and compressors. The company achieved an operating income of 85.6 billion yuan in 2023, a year-on-year increase of 15.5%; The net profit was 2.837 billion yuan, a year-on-year increase of 97.73%.
Hisense’s home appliance air conditioning business has brands such as Hitachi, York, Hisense and Kelon. In 2023, the company’s HVAC revenue was 38.652 billion yuan, up 12.04% year-on-year. Gross profit margin was 30.66%, up 2.73% year-on-year.
In 2023, the online and offline retail sales of household air conditioners increased by 41.4% and 14.3% respectively. The central air-conditioning business achieved a year-on-year increase of 9.3% in main business income, 20.5% in total profit and more than 20% in multi-line market share.
Hisense’s home appliances have ice washing brands such as Rongsheng and Hisense. In 2023, the company’s ice washing business revenue was 26.07 billion yuan, a year-on-year increase of 22.93%; Gross profit margin was 19.11%, up 1.58% year-on-year. Among them, the refrigerator business income increased by 18.7%.
Previously, Hisense Home Appliances acquired Japan’s Sanpower Company and entered the field of automobile air conditioning. During the reporting period, the income of automobile air conditioning compressor and comprehensive thermal management plate was 9.05 billion yuan.
The company upgraded Hisense Aijia APP and Smart Cloud Platform. In 2023, the number of home appliance users of Hisense Aijia Platform increased by 54% year-on-year, the number of monthly users of home appliances increased by 58% year-on-year, the intelligent experience of home appliances increased by 8% year-on-year, and the sales of domestic smart home appliances increased by more than 40%.
In 2023, Hisense’s overseas business revenue reached 27.92 billion yuan, up 12.3% year-on-year, and the proportion of Hisense’s own brand business has exceeded 80%. The company accelerated the channel layout, and the heat pump scale of central air conditioning business increased by 46% year-on-year; The market share of refrigerator business in Thailand in ASEAN region increased by 2.3 points year-on-year, and that in Malaysia increased by 3.1 points year-on-year.
The company has strengthened overseas localization, and refrigerators and kitchen and bathroom products in the smart home appliance industrial park in Monterrey, Mexico have entered the mass production stage, which has provided support for Hisense to further explore the North American market and accelerate the overseas industrial layout. In 2023, the overall revenue of Hisense’s all-category products increased by more than 20% year-on-year, among which Hisense’s brand revenue increased by more than 70%.
Hisense’s video revenue exceeded 53.6 billion yuan, and its TV revenue was nearly 41.3 billion yuan.
Hisense Video, which focuses on display business, achieved a total operating income of 53.616 billion yuan in 2023, a year-on-year increase of 17.22%; The net profit of returning to the mother was 2.096 billion yuan, a year-on-year increase of 24.82%.
In 2023, the company controlled Ganzhao Optoelectronics, and the shareholding ratio of Ganzhao Optoelectronics increased from 20.00% to 22.64%. Ganzhao Optoelectronics also turned losses into profits. In 2023, the company achieved main business income of 1.747 billion yuan, a year-on-year increase of 20.27%.
The trend of high-end and large-screen TV has been strengthened. In 2023, Hisense Video’s TV business revenue was 41.257 billion yuan, a year-on-year increase of 17.01%. The gross profit margin was 15.99%, a year-on-year decrease of 1.36 percentage points.
The global sales of the company’s 100-inch and above TVs increased by 152.68% year-on-year, and the sales increased by 115.88% year-on-year; China mainland sales increased by 266.34% and sales increased by 175.96%.
Hisense Video’s revenue from new display services including laser display, commercial display, virtual reality display, cloud service and chip business was 6.517 billion yuan, up 40.60% year-on-year; The gross profit margin was 31.68%, a year-on-year decrease of 6.54 percentage points.
During the reporting period, the company completed the research and development of AR split glasses; The main business income of the company’s newly displayed new business accounted for 13.47%, up 2.04 percentage points year-on-year.
The company’s laser display industry includes laser tv, intelligent projection, optical engine and commercial projection, as well as in-vehicle display business under development; During the reporting period, Qingdao Haifei New Materials Co., Ltd. was established to develop and produce screen diaphragms.
Focusing on Hisense, Toshiba and Vidda, the company implements an independent and collaborative hierarchical management mechanism, adheres to "independent brands going out to sea" and "high-end going out to sea", and continuously enhances its long-term overseas development capabilities.
In 2023, the income from the main business outside China was 24.747 billion yuan, a year-on-year increase of 20.45%; The company’s overseas main business income accounted for 51.14%, up 0.47 percentage points year-on-year.
In 2023, the market share of Hisense TV retail volume increased year-on-year in the United States, Canada, Mexico, Germany, Italy, Britain, France, Spain, Japan and other important markets. North America and Europe have become the first and second largest incremental markets for overseas income, both achieving high double-digit growth year-on-year.
Beijing News Shell Financial Reporter Chen Weicheng
Editor Wei Boya
Proofread Liu Jun


















