(Yicai) April 9 -- Skyworth Group plans to spin off several of its subsidiaries for listing, according to the founder and substantial shareholder of the Chinese home appliance giant.

Skyworth's white goods, photovoltaic, smart television operating systems, and other business units will likely become independent to list both in the Chinese mainland and offshore, Huang Hongsheng told Yicai in an interview yesterday.

So far, only Skyworth Digital, the company's set-top box business unit, is listed in the Chinese mainland market.

Solar, battery, and new energy vehicles have become the three new growth engines for Chinese exports, with domestic demand also continuing to rise, Huang noted.

Skyworth's revenue rose 29 percent to CNY69 billion (USD9.5 billion) last year from the previous one, with revenue from the new energy business nearly doubling to CNY23.4 billion, according to the Shenzhen-based company's latest earnings report. Skyworth aims to achieve an annual revenue of CNY100 billion (USD13.8 billion) by 2025, Huang said.

Huang told Yicai that he dedicates 80 percent of his time to the NEV business and 20 percent to the home appliance business. But Skyworth's NEV brand is under Skywell New Energy Vehicles Group, an independent firm also founded by Huang.

Skyworth's PV business has a very low gross profit margin, and the NEV business is still at a loss. The development of these two aims at establishing an ecosystem for people, vehicles, and homes, Huang pointed out.

"I believe that the PV industry will enter an era of low profitability," said Huang. In the future, Skyworth's solar business will adopt a strategy of small profits but large sales, he added.

Only two companies in China's NEV industry are profitable, which are BYD and Li Auto, Huang noted. Even though Skyworth's NEV business is not profitable, it has one of the smallest losses in the industry, he claimed.

Skyworth's NEV brand plans to launch a luxury sedan, the Skyhome, next year or the following one, mainly targeting overseas markets.

Editor: Futura Costaglione