Core Viewpoint - The performance of major television manufacturers serves as a barometer for the television market trends, with significant declines in revenue and profit reported by companies like Konka, TCL, Hisense, and Skyworth in 2024 [2][3]. Financial Performance - Konka Group reported a revenue of approximately 11.1 billion yuan in 2024, a year-on-year decline of 37.73%, and a net profit attributable to shareholders of approximately -3.3 billion yuan, down 52.31% [2]. - Konka's television business generated revenue of 5.03 billion yuan, a year-on-year increase of 6.78%, accounting for about 45% of total revenue [3]. - TCL's large-size display business revenue increased by 23.6% to 60.11 billion HKD (approximately 56.64 billion yuan), while Skyworth's smart TV revenue was about 20.8 billion yuan, up nearly 10% [4]. Market Dynamics - The domestic television market is increasingly concentrated among leading brands, with TCL, Hisense, and Skyworth collectively holding a market share of 60.5%, up 3.9 percentage points year-on-year [4]. - Mini LED technology is becoming a key competitive area in the high-end television market, with sales of Mini LED TVs in China increasing by 520.4% year-on-year in Q1 2024 [5][6]. Export Challenges - The overseas market has become increasingly important for television manufacturers, with Konka expanding its overseas business by acquiring 23 new clients and establishing a presence in Sri Lanka [7]. - The overall export volume of televisions from mainland China is projected to reach 110.54 million units in 2024, a year-on-year increase of 11.4% [8]. - Tariffs are a significant concern for manufacturers, particularly in the North American market, with companies like Hisense and TCL establishing factories in Mexico to mitigate costs [8][9].

Core Viewpoint - The Mini LED TV market is expected to perform exceptionally well in 2024, driven by technological breakthroughs, policy support, and consumer upgrades, with sales projected to reach 6.75 million units, a year-on-year increase of 65% [1]. Group 1: Market Performance - The sales of large-sized Mini LED TVs in China are boosted by the government's subsidy program for replacing old appliances, leading to an upward revision of sales forecasts by 5.4% [1]. - By 2025, nearly 24 new Mini LED models have been launched by various brands, including Hisense, TCL, and Sony, indicating sustained market enthusiasm [1]. Group 2: Product Offerings - Major brands like Hisense and TCL are focusing on large-sized Mini LED TVs, with Hisense introducing multiple models up to 116 inches and TCL offering options up to 98 inches [5][7]. - The introduction of RGB Mini LED technology is gaining traction, with brands like Hisense and TCL showcasing their latest models at CES 2025, enhancing color accuracy and display quality [8][9]. Group 3: Future Outlook - The Mini LED TV market is anticipated to continue its growth trajectory, supported by technological advancements and decreasing production costs, which will enhance market competitiveness [11]. - National policies aimed at providing industry subsidies are expected to lower retail prices for Mini LED TVs, stimulating market demand [11].

1. 友邦保险(01299.HK)拟回购最高达16亿美元的股份。 2. 世茂集团(00813.HK)一季度累计合约销售总额约70.7亿元。 3. 富力地产(02777.HK)3月总销售收入共约11.9亿元，同比增长10.2%。 4. 紫金矿业(02899.HK)一季度归母净利润101.67亿元，同比增长62.39%。 5. 花旗集团增持中国人寿(02628.HK)约514.5万股，每股作价约12.83港元。 6. 中广核新能源(01811.HK)3月完成发电量1765.1吉瓦时，同比减少4.7%。 7. 众安在线(06060.HK)前三个月原保险保费收入约79.57亿元，同比增长12.29%。 8. 君实生物(01877.HK)主席熊俊认可公司长期投资价值，拟增持不低于1亿元的股份。 9. 如祺出行(09680.HK)联手高域科技战略合作，探索"飞行汽车+Robotaxi"智慧交通新场景。 10. 昭衍新药(06127.HK)可能因美国FDA拟取消单克隆抗体及其他药物的动物试验而导致股价异动。 11. 中国太保(02601.HK)：太平洋人寿保险一季度累计原保险保费收入1002.15亿元，同比增长9.3%。 ...

Core Insights - The fifth China International Consumer Products Expo (CICPE) is being held from April 13 to 18 in Hainan, featuring over 1,700 consumer enterprises and more than 4,100 brands from 71 countries and regions, showcasing emerging consumer sectors such as fashion, technology, health, and services [1][2] Group 1: Shenzhen Pavilion Highlights - The Shenzhen Pavilion, themed "Shenzhen Intelligent Manufacturing Global Sharing," showcases 15 well-known companies including BYD, DJI, and Honor, with over 100 exhibits demonstrating Shenzhen's technological and innovative capabilities [2][3] - The pavilion covers an area of 900 square meters, featuring more than 200 exhibits across key industries such as new energy vehicles, smart manufacturing, consumer electronics, fashion, and health [1][2] Group 2: AI Robotics and Smart Retail - AI robots are a key highlight at the expo, with Anno Robotics presenting three main products: an AI coffee art robot, an AI cocktail robot, and an AI ice cream robot, all targeting the ready-to-drink beverage market [3][4] - The AI coffee art robot allows consumers to customize their coffee preferences and produces drinks in an average of 90 seconds, while the cocktail robot can serve drinks in 45 seconds and the ice cream robot in 30 seconds [3] Group 3: Innovations in Consumer Technology - Yuntian Lifei, a first-time participant, showcases several consumer-oriented smart hardware products, including the first domestically produced AI pet and new AI audio glasses, emphasizing the integration of large models with hardware [5][6] - The AI audio glasses, developed in collaboration with Flash and LoHo, feature capabilities such as photography, video recording, voice interaction, and smart translation, positioning them as both a fashion item and a personal assistant [6]

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） 須予披露交易 投資協議 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 投資協議 於2025年4月11日，本公司間接非全資附屬公司深圳創維光伏與浙江愛旭太陽能及百色 市政府訂立投資協議，訂約方同意透過成立項目公司推行光伏項目。 根據投資協議條款，項目公司的初始註冊資本總額為人民幣900,000,000元。深圳創維 光伏將就項目公司的初始總註冊資本出資人民幣550,000,000元。浙江愛旭太陽能及百 色市政府將分別就項目公司的初始總註冊資本出資人民幣250,000,000元及人民幣 100,000,000元。 上市規則之涵義 由於投資協議項下擬進行之交易根據上市規則第14.07條計算之一項或多項適用百分比 率高於5%但低於25%，因此投資協議項下擬進行之交易構成本公司於上市規則第14章 項下之須予披露交易，並須遵守上 ...

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 （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年第一季度業績 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，已刊載了一份有關截至2025年3月31日止三個月 的第一季度未經審計業績報告之公告（「該公告」）。該公告已轉載於附件中。 本公司之股東及潛在投資者應注意，載於該公告內有關創維數字第一季度業績之財務資料未經 審計，中文完整版的創維數字202 ...

Industry Overview - The Chinese home appliance industry is undergoing a strategic transformation from scale-driven to value-driven amidst profound changes in global manufacturing [1] - The 2024 performance of the industry shows a stark contrast, with leading companies like Midea, Haier, and Hisense achieving revenue and profit growth, while Skyworth faces significant declines due to structural imbalances [1] Midea Group - Midea Group reported total revenue of 409.1 billion yuan in 2024, a year-on-year increase of 9.44%, and a net profit of 38.5 billion yuan, up 14.29%, marking a historical high [2][3] - The company’s cash flow from operating activities reached 60.5 billion yuan, 1.56 times its net profit, indicating strong profitability [2] - Midea has successfully established a dual-driven model of "smart home + commercial and industrial solutions," with ToB business revenue exceeding 100 billion yuan for the first time, reaching 104.5 billion yuan, a 6.9% increase [3][4] Haier Smart Home - Haier Smart Home achieved revenue of 285.98 billion yuan in 2024, a 4.29% increase, and a net profit of 18.74 billion yuan, up 12.92%, reflecting improved operational quality [5][6] - The Casarte brand continues to lead in the high-end market, with significant growth in revenue, particularly in the fourth quarter [6][7] - Haier's overseas revenue reached 143.81 billion yuan, a 5.43% increase, with emerging markets showing strong performance [7] Hisense Home Appliances - Hisense reported total revenue of 92.75 billion yuan in 2024, an 8.35% increase, and a net profit of 3.35 billion yuan, up 17.99%, showcasing strong profitability [8][9] - The company’s kitchen appliance segment grew by 72%, with significant advancements in product innovation [10] - Hisense's overseas revenue surpassed 35.6 billion yuan, a 28% increase, with a notable rise in market share in Europe and South Africa [11] Skyworth Group - Skyworth's total revenue for 2024 was 65.01 billion yuan, a decrease of 5.8%, with net profit dropping by 46.9% to 568 million yuan, indicating significant operational challenges [12][13] - The company remains heavily reliant on its smart home and photovoltaic businesses, which account for over 80% of total revenue [12][15] - The photovoltaic segment saw a revenue decline of 13.1%, attributed to market challenges and policy uncertainties [15][16] Future Outlook - The home appliance industry is experiencing structural changes, with leading companies strengthening competitive barriers through technological innovation and global expansion [17] - The integration of AI technology into home appliances is reshaping the competitive landscape, with significant market share growth expected for AI-enabled products [17] - The trend of increasing overseas revenue and brand output among leading companies indicates a shift from product export to brand export, with emerging markets becoming key growth drivers [17][18]

（图片来源：网络） 出品｜搜狐财经 作者｜李保铭 3月27日夜间，创维集团发布最新的2024年报，营收、公司股权持有人应占溢利双跌。 | | 智能家雷业务 (百万人民币) | 智能系統技術業務 | 新能源業務 | 現代版社主主社 及其他 | | | --- | --- | --- | --- | --- | --- | | 2024 | ~33,469 | 1>8,511 | 20,334 | 2,861 | 65,175 | | 2023 | 30,637 | 10,413 | 23,396 | 4,734 | 69,180 | | 同比 | 9.24% | -18.27% | -13.09% | -39.56% | -5.79% | 财报显示，2024年，创维集团总营业额为650.13亿元，同比下滑5.8%；公司股权持有人应占溢利为5.68亿元，同比下滑46.9%。 从三费情况来看，创维集团2024年销售及分销费用为37.49亿元，同比增长8.6%，一般及行政费用为18.07亿元，同比下滑5.93%，研发费用为20.86亿元，同 比下滑1.93%。 其中， 智能家电业务占大陆市场营业额的43.7%、智能系 ...

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。 中信里昂證券有限公司 代表創維集團有限公司 提出有條件現金要約 按每股股份港幣3.11元 回購最多達350,000,000股股份 及 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） – 1 – 董 事 會 宣 佈 中 信 里 昂 證 券 有 限 公 司 將 代 表 本 公 司 提 出 要 約 ， 在 該 條 件 的 規 限 下 ， 按 每 股 股 份 港 幣 3 . 1 1 元 的 價 格 回 購 並 註 銷 最 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 65,013 million, a decrease of 5.8% compared to RMB 69,031 million in 2023[4] - Gross profit for the same period was RMB 8,808 million, down 6.3% from RMB 9,402 million in the previous year[4] - Net profit attributable to equity holders of the company decreased by 46.9% to RMB 568 million from RMB 1,069 million in 2023[4] - The company's profit before tax decreased to RMB 1,738 million in 2024 from RMB 2,323 million in 2023, representing a decline of approximately 25.1%[9] - The group's profit for the year was RMB 1,160 million, representing a decline of 34.3% year-on-year, with an overall gross margin of 13.5%, down by 0.1 percentage points[50] Dividends - The company did not recommend the distribution of a final dividend for the year ended December 31, 2024, compared to a final dividend of 5 HK cents per share in 2023[4] - The company did not declare any interim dividends for the year ending December 31, 2024, compared to a final dividend of HKD 0.05 per share totaling approximately RMB 111 million for 2023[8][36] - The board of directors does not recommend a final dividend for the reporting year to retain cash for the company's development and corporate planning[103] Assets and Liabilities - Total assets as of December 31, 2024, amounted to RMB 49,722 million, an increase from RMB 46,677 million in 2023[7] - Current liabilities increased to RMB 37,334 million in 2024 from RMB 35,428 million in 2023[8] - The company's cash and cash equivalents decreased to RMB 8,348 million from RMB 9,114 million in the previous year[7] - The net asset value of the company increased to RMB 23,138 million in 2024 from RMB 22,757 million in 2023[8] - Trade receivables and notes receivable increased to RMB 13,334 million in 2024 from RMB 11,467 million in 2023, representing a growth of 16.3%[40] - The total receivables balance as of December 31, 2024, is RMB 19,588 million, up from RMB 17,580 million in 2023, indicating an increase of 11.4%[40] - The company's trade payables increased to RMB 12,883 million in 2024 from RMB 11,531 million in 2023, marking a rise of 11.7%[45] - The debt-to-equity ratio rose to 70.5% as of December 31, 2024, compared to 67.3% in the previous year[82] Revenue Breakdown - Total revenue for the year ending December 31, 2024, reached RMB 65,013 million, with a breakdown of RMB 33,407 million from smart appliances, RMB 8,495 million from smart systems, and RMB 20,270 million from new energy business[19] - The revenue from customer contracts for smart appliances was RMB 30,637 million, while smart systems generated RMB 10,383 million, and new energy business contributed RMB 23,396 million for the year ending December 31, 2023[20] - Revenue from mainland China accounted for RMB 49,251 million, down from RMB 53,677 million in 2023, indicating a decline of approximately 8.9%[28] - Revenue from overseas markets was RMB 15,762 million, accounting for 24.2% of the total revenue, an increase of RMB 408 million or 2.7% from RMB 15,354 million in the previous year[53] Research and Development - Research and development expenses for the year were RMB 2,086 million, slightly down from RMB 2,127 million in 2023[5] - The company is investing in research and development for new technologies in smart home systems and renewable energy solutions[23] - The company has made significant advancements in R&D, focusing on technologies such as AI quality chips and sound tracking algorithms, which have strengthened its market position in high-end TVs[58] Operational Efficiency - The company anticipates a continued focus on enhancing operational efficiency and exploring potential mergers and acquisitions to drive growth[23] - The company has optimized its operational strategies in response to market changes, including resource allocation and inventory structure adjustments[50] - The company has successfully expanded its online and offline sales channels, enhancing operational efficiency and user service levels through digital tools[59] Market Strategy - The company plans to expand its market presence in both domestic and international markets, focusing on smart appliances and new energy solutions[23] - The company is actively expanding its photovoltaic business into overseas markets, including Germany, Italy, and Thailand, positioning itself as a leader in sustainable development[72] - The company is focusing on optimizing global resource allocation and deepening international cooperation to accelerate its overseas business expansion, with a strategy to establish localized teams in different countries[94] Employee and Corporate Governance - The company emphasizes employee welfare and training, implementing performance-based compensation policies and long-term incentive plans to motivate and reward outstanding employees[90] - The company has maintained compliance with corporate governance codes and standards throughout the reporting year[96][97] - The company’s audit committee has reviewed the accounting standards and practices adopted by the group and discussed financial reporting matters for the reporting year[99]