China Net Technology, March 9th (Reporter Shan Zhengyu) Homa Electric recently released its 2022 annual financial report. During the reporting period, Homa Electric achieved operating income of 7.843 billion yuan, a year-on-year decrease of 22.52%; net profit attributable to shareholders of listed companies was 424 million yuan, a year-on-year increase of 630.18%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 4.26 100 million yuan, a year-on-year increase of 517.42%, turning losses into profits.

Source: Homa Electric’s 2022 financial report

In view of the good performance in 2022, Homa Electric stated in the report that first, although the overall business scale is greatly affected by the downturn in the European consumer market, breakthroughs have been made in the development of the Chinese market and the Asia-Pacific region. The second is that in 2022, the company has determined the strategic goal of focusing on the main business of refrigerators. While the product structure continues to be optimized, the proportion of high-end air-cooled refrigerators will increase, and operational efficiency will be improved.

The third is that all violations in the previous period have been rectified. In September 2022, the company’s controlling shareholder, TCL Home Appliances Group (hereinafter referred to as: TCL Home Appliances), took the initiative to assume the responsibility for repayment of the business’s historical hidden debt of about 300 million yuan. During the reporting period, the company made every effort to resolve all operating risks and debt crises caused by the historical business of the original financial technology sector.

According to public information, Omar Electric is the largest refrigerator ODM original design manufacturer in China, and the overall sales volume of refrigerators ranks fourth in the country. From 2009 to 2022, Omar Electric refrigerators ranked first in my country’s refrigerator exports for 14 consecutive years. But before that, Homa Electric’s performance fluctuated greatly, and it also suffered losses for two consecutive years in 2020 and 2021. The reason was mainly dragged down by the financial technology business, which lasted until 2021.

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In 2021, TCL Home Appliances will increase its stake in Homa Electric through judicial auctions and secondary market purchases. In May and July 2021, the controlling shareholder of Homa Electric was changed to TCL Home Appliances. As of March 9, the total market value of Omar Electric was 6.765 billion yuan.