Hisense, a prominent name in global consumer electronics and home appliances, has announced a significant achievement as its overseas business revenue surpassed $12.2 billion USD in the fiscal year 2023. This milestone was celebrated during the company’s 55th-anniversary event, where Hisense also outlined ambitious goals for the future.
Over the past five years, Hisense has expanded its global presence significantly, attributed to breakthroughs in its technological foundations. The acquisition of SanDen Corporation and the development of advanced AI picture quality chips have played crucial roles in this growth, allowing the company to tap into new markets and enhance its technological capabilities. Since 2019, Hisense’s overseas revenue has more than doubled, contributing to the Group’s total revenue of over $28.7 billion USD in 2023.
During the anniversary celebration, Hisense Group Chairman Mr. Jia Shaoqian delivered a keynote address titled “Faithful as in the Beginning, Creating the Future.” In his speech, he introduced the company’s future goals, which include establishing a high-quality development model leveraging industrial clusters, transitioning towards green and low-carbon operations, and transforming from a China-centric to a truly global management model. Additionally, he highlighted the aim of establishing Hisense as a world-class enterprise and global brand.
“We continue to strengthen our core competitiveness in technology and products, leverage our strong appeal in cross-cultural integration, and enhance our global competitiveness in building a brand matrix,” Mr. Jia emphasised. “Hisense will persist in developing our own brands, aiming for the high-end market in resolutely striving to become world-class!”
Focusing on innovation, Hisense dedicates approximately 5% of its annual revenue to research and development, with 30% of that investment directed towards pre-research initiatives. By prioritising user needs and customer satisfaction, the company ensures its products and technologies create value for consumers.
Hisense has established a robust global infrastructure, consisting of 36 industrial parks and production bases, 30 R&D centres, and 64 overseas offices. This extensive “5+1” network covers key regions, including Europe, the Americas, ASEAN, the Middle East, Africa, and China. To drive further growth, Hisense is accelerating its manufacturing footprint globally. The company is establishing new production facilities in Africa and enhancing localisation of production and research capabilities in ASEAN and Latin America. This strategic expansion aims to improve customer service and strengthen Hisense’s competitive position worldwide.
Looking ahead, Hisense envisions building a “Century-old Company” and is committed to improving corporate governance. By benchmarking against global best practices, fostering board diversity, and implementing a more robust governance structure, the company aims to enhance its operational effectiveness and expedite its journey towards becoming a world-class enterprise.
As Hisense continues to thrive and adapt to the ever-changing global market, its commitment to innovation and quality positions the company favourably for the future.
