Core Viewpoint - The rise of "he economy" and increasing consumer spending among men have led to a significant growth in the demand for electric shavers in China, with retail volume and value experiencing substantial increases in 2023, although a market saturation is expected in 2024, resulting in a decline in both volume and value [1][12]. Market Overview - The electric shaver is a portable personal care device powered by electricity, designed for shaving without the need for water or shaving cream, making it convenient for quick use or travel [2]. - In 2023, the online retail volume of electric shavers in China reached 61.06 million units, a year-on-year increase of 49.62%, while retail value reached 9.4 billion yuan, up 22.08% [12]. - By 2024, the online retail volume is projected to decrease to 56.19 million units, a year-on-year decline of 7.98%, with retail value dropping to 8.6 billion yuan, down 8.51% [12]. Market Policies - The Chinese government has implemented various policies to support the development of the small appliance industry, including electric shavers, creating a favorable environment for market growth [5]. Industry Chain - The upstream of the electric shaver industry includes suppliers of materials like stainless steel, tungsten steel, plastics, and rubber, as well as components like motors and batteries. The midstream involves design, research, and production, while the downstream consists of sales channels such as supermarkets, specialty stores, and e-commerce platforms [8]. Consumer Demographics - The primary consumers of electric shavers in China are aged 18-30, accounting for over 50% of the market, followed by those aged 35-50 at approximately 37.9%. There is a notable increase in female consumers purchasing electric shavers for gifts or household use, now making up 40% of the market [10]. Competitive Landscape - The electric shaver market in China is divided into three categories: international high-end brands (e.g., Philips, Braun), domestic traditional brands (e.g., Feike, Superman), and emerging cross-border brands (e.g., Xiaomi, Skyworth) [16]. - The number of portable electric shaver brands in China reached 227 in 2024, a year-on-year increase of 43.67%, with model numbers increasing by 51.60% to 855 [18]. Company Analysis - **Feike Electric**: Focuses on personal care and kitchen appliances, with a revenue of 4.147 billion yuan in 2024, where personal care products accounted for 95.39% of total revenue [22]. - **Skyworth Group**: Engaged in various smart appliances, with a total revenue of 65.01 billion yuan in 2024 and a gross profit of 8.808 billion yuan, reflecting a gross margin of 13.55% [24]. Development Trends - The future of electric shavers is expected to be influenced by the proliferation of 5G technology and the Internet of Things, leading to smarter features and personalized designs that cater to the preferences of younger consumers [26].

Core Insights - The Chinese television market is experiencing a significant concentration of market share among domestic brands, with the top seven brands accounting for 92.6% of total shipments in Q1 2023, marking a historical high [1][2] Group 1: Market Performance - In Q1 2023, the total shipment volume of televisions in China reached 8.52 million units, a slight decrease of 0.6% year-on-year and an 8.9% decline compared to 2021 [1] - The top seven domestic brands, including Xiaomi, Hisense, TCL, Skyworth, Changhong, Haier, and Konka, shipped a total of 7.89 million units, representing a year-on-year growth of 2.5% [2] - Hisense and its sub-brand Vidda achieved nearly 2 million units in shipments, with a year-on-year growth of 13% [2] - TCL, including its sub-brands, saw a remarkable 37% increase in shipments, the highest growth rate in the industry [2] Group 2: Competitive Landscape - The competition among leading brands is intensifying, with the first-tier brands like Hisense and TCL maintaining strong growth, while the second-tier brands are facing pressure [3] - Huawei's shipments dropped over 50% due to internal adjustments, highlighting the need for improved sales performance post-adjustment [3] - Foreign brands like Sharp, Sony, Samsung, and Philips have seen their combined market share fall below 10%, indicating a significant decline [2][3] Group 3: Strategic Directions - Domestic brands are focusing on high-end market segments and expanding into commercial and automotive sectors, indicating a shift towards diversification [3][4] - Companies are investing in OLED and miniLED technologies and are entering vertical integration phases by expanding into display, operating systems, and chip industries [4] - As the domestic market becomes saturated, companies like Hisense and TCL are increasingly targeting international markets, with strategies aimed at significant overseas expansion [5][6]

Core Insights - The development of zero-carbon parks is gaining historic momentum, supported by government policies aimed at promoting low-carbon transformation in industrial parks [2][3] - Currently, there are over 15,000 industrial parks in China, with only about 100 classified as zero-carbon parks, indicating significant growth potential in this sector [2][3] Policy Support - The recent notice from the National Development and Reform Commission, Ministry of Industry and Information Technology, and National Energy Administration outlines a plan to establish a number of zero-carbon parks, marking a concrete step towards achieving carbon neutrality [3] - The construction of zero-carbon parks is part of a broader strategy that includes virtual power plants and direct green electricity connections, emphasizing the importance of energy transition and industrial decarbonization [3] Industry Practices - Skyworth Photovoltaic has been a pioneer in zero-carbon park construction, with its zero-carbon smart park in Chuzhou, Anhui, integrating various business models and innovative technologies [4][14] - The park features a total installed capacity of over 6.5 MW for photovoltaic modules, utilizing multiple mounting technologies to optimize energy generation [4][8] Technological Innovations - The integration of photovoltaic carports and flexible mounting systems enhances energy efficiency and maximizes solar power generation [6][8] - Smart operation and maintenance practices, including drone inspections and intelligent cleaning robots, ensure the efficient operation of photovoltaic systems [9][11] Future Directions - The focus for zero-carbon parks will shift towards aggregating resources and implementing digital management systems to achieve collaborative efficiency [12][13] - The transition from dispersed development to a more integrated approach is essential for maximizing the lifecycle value of zero-carbon parks [12][13]

Core Viewpoint - The implementation of the Private Economy Promotion Law marks a significant transition for the private economy in China, moving from "policy protection" to "legal rights establishment" [1][2]. Group 1: Legislative Significance - The Private Economy Promotion Law consists of 9 chapters and 78 articles, focusing on fair competition, investment financing, technological innovation, operational regulation, service guarantees, and rights protection [2]. - This law is seen as a foundational legal framework for the development of the private economy, with a milestone significance in China's economic history [1][2]. Group 2: Impact on the Solar Industry - The law establishes a principle of equal competition, breaking down long-standing market entry barriers, which will shift solar project development from "ownership preference" to "capability priority" [2]. - It addresses the unique characteristics of the solar industry, such as large investment scale and long return periods, by designing a multi-level financing support system [2]. - The law encourages private enterprises to lead major technological breakthroughs, aligning with the trends of technological transformation in the solar industry [3]. Group 3: Innovation and Industry Upgrade - The solar industry is recognized as a typical representative of new productive forces, driven by technological innovation to transform the energy structure and upgrade the industry [3]. - The law supports private economic organizations in actively participating in technological innovation and building a modern industrial system [3]. Group 4: Challenges and Recommendations - The solar industry faces challenges such as vicious competition and profit decline, necessitating a legal foundation for restructuring competitive order [6]. - Recommendations include establishing capacity warning and admission standards, implementing technology grading linked to electricity pricing, and enhancing financial support and risk management [6][9]. - The law provides a legal environment for the solar industry to transition from "price wars" to "value competition," fostering a healthier and more sustainable development phase [7]. Group 5: Future Outlook - The solar industry is at a turning point from "barbaric growth" to "high-quality development," with the law facilitating a shift towards value-driven competition [7]. - The role of private enterprises is being fundamentally restructured, allowing them to become industry innovation leaders through policy empowerment and technological breakthroughs [8]. - The next five years are expected to bring deep transformations in the solar industry, driven by marketization, globalization, and intelligence, with private enterprises needing to focus on technological innovation and global layout [9][10].

Core Insights - Skyworth Solar has launched a strategic financial partnership with the Industrial and Commercial Bank of China (Thailand) and initiated a $500 million Asian Clean Energy Fund, marking a significant step in its expansion into Southeast Asia [1][11] - The company aims to leverage its technological capabilities and localized teams to accelerate the green energy transition in the region, positioning Thailand as a key hub for its operations [3][9] Group 1 - Skyworth Solar's cumulative installed capacity has reached 25 GW, with over 750,000 solar power stations built since its establishment in 2020 [9] - The company plans to achieve revenue of 10 billion Thai Baht in the next three years through localized EPC services, technological empowerment, and financial collaboration [9] - The partnership with the Industrial and Commercial Bank of China (Thailand) will focus on cross-border green finance, commercial solar solutions, and carbon-neutral banking systems [9][11] Group 2 - The event attracted over 160 key guests from financial institutions, energy associations, and major enterprises across Thailand and Southeast Asia, highlighting the importance of collaboration in the renewable energy sector [1] - Skyworth Group's Chairman Lin Jin emphasized the company's commitment to technology-driven growth and long-term strategies as it transitions from home appliances to renewable energy [5] - The collaboration with Tai Shan Capital is expected to unlock synergistic value and drive significant market growth in Southeast Asia's renewable energy sector [11][13]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 SKYWORTH GROUP LIMITED 創 維 集 團 有 限 公 司 董事會主席 （於百慕達註冊成立之有限公司） （股份代號：00751） 海外監管公告 創維數字股份有限公司 2025 年半年度業績預告 本公告乃由創維集團有限公司（「本公司」）之董事會（「董事會」）根據香港聯合 交易所有限公司證券上市規則（「上市規則」）第13.09(2)條及第13.10B條以及香 港法例第571章證券及期貨條例第XIVA部內幕消息條文（按上市規則所定義者） 而作出。 創維數字股份有限公司（「創維數字」，深圳證券代碼：000810）為一間於深圳證 券交易所A股上市公司及為本公司的一間非全資附屬公司，已公佈其2025年半年 度業績預告（「該公告」）。該公告已轉載於附件中。創維數字之具體財務數據將 於2025年半年度報告中詳細披露。 本公司之股東及潛在投資者應注意，該公告之中文版（公告編號：2025-029）已 於深 ...

Core Viewpoint - Funai Electric Co., Ltd. is planning to transfer part of its television business to China's Skyworth Group, which is expected to enhance Skyworth's competitiveness in the Japanese market [1][3][4] Group 1: Business Transfer Details - Skyworth is set to take over Funai's North American market operations, primarily responsible for selling Philips-branded televisions [1] - Skyworth will rehire employees from Funai's subsidiary in Japan that handles repairs for Funai-branded televisions, aiming to boost sales of home appliances in Japan [1] - Skyworth will also procure necessary spare parts for television repairs from Funai [1] Group 2: Market Context and Challenges - Reports indicate that Funai is attempting to transfer its AV business within Japan to Skyworth, but progress has been slow [3] - The Japanese television market is seeing increasing influence from Chinese companies like Hisense, which could significantly enhance Skyworth's competitive position if it successfully acquires Funai's Japanese operations [4]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 創維集團有限公司 呈交日期： 2025年6月17日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00751 | 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存 ...

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公告乃根據並為符合香港聯合交易所有限公司證券上市規則、收購守則及股份 回購守則而編製，並不構成要約購買或招攬要約出售或認購任何證券或邀請訂立 協議以作出任何該等事宜，亦並非旨在邀請要約購買、出售或認購任何證券。 SKYWORTH GROUP LIMITED 創 維 集 團 有 限 公 司 （ 於 百 慕 達 註 冊 成 立 之 有 限 公 司 ） （股份代號：00751） 中信里昂證券有限公司 代表創維集團有限公司 提出現金要約 按每股股份港幣3.11元 回購最多達350,000,000股股份完成 本公司之獨家財務顧問 茲提述(i)創維集團有限公司（「本公司」）日期為2025年4月28日有關（ 其中包括 ）要 約 之 要約 文 件（「要 約文 件」）； 及(ii) 本 公 司日 期 為 2025 年6 月6 日 有關（ 其 中 包 括 ...

Core Viewpoint - The photovoltaic industry in China has evolved from a subsidy-dependent technology to a mainstream energy solution, with companies like Skyworth Group leading the charge in distributed solar energy applications [1][3]. Industry Development - The Chinese photovoltaic industry has seen significant growth, with distributed solar installations accounting for over 65% of new capacity since the subsidy reduction in 2021 [3]. - The cost of solar components has decreased from 4 yuan/W to 1.5 yuan/W, and there are now over 700,000 household solar power stations across the country [3]. Company Strategy - Skyworth Group aims to establish its new energy business as a "second growth curve," leveraging its extensive dealer network from its home appliance business [3]. - Revenue from Skyworth's new energy business is projected to grow from 4.113 billion yuan in 2021 to 20.334 billion yuan in 2024 [3]. Business Ecosystem - Skyworth Group integrates its home appliance, photovoltaic, and automotive electronics businesses to create a cohesive ecosystem focused on new energy and smart technology [3][4]. - The company promotes smart energy solutions for households, enabling self-sufficiency in energy and efficient power management [3]. Innovation and Collaboration - To enhance its photovoltaic business, Skyworth has established cross-departmental coordination and increased R&D investments, including the development of universal energy management chips [4]. - The company has created a unified data platform to support innovative services in the new energy sector [4]. Market Expansion - Skyworth's photovoltaic division has capitalized on the rapid growth of distributed solar energy, particularly following the government's pilot programs in 676 counties [5]. - The "Universal Photovoltaics" concept aims to make solar energy accessible, allowing homeowners to install systems with zero upfront costs through financing agreements [5]. Future Plans - Over the next five years, Skyworth plans to implement three major transformations: technological advancements, scenario transitions, and ecological shifts, aiming for a tax contribution of 20 billion yuan [7]. - The company is also focusing on international expansion, transitioning from product export to a dual strategy of "technology export + localized ecology" [7][8]. Global Strategy - Skyworth's overseas brand, Solavita, is leveraging the group's manufacturing strengths to establish a global sales network for photovoltaic products [8]. - The company is actively developing construction contracting services in key international markets, including Germany, Italy, and Thailand, to drive its global growth [8].