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 而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Haier Smart Home Co., Ltd.* 海爾智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 2024年第三季度報告 本公告乃海爾智家股份有限公司（「本公司」）根據香港法例第571章《證券及期貨條例》 第XIVA部項下內幕消息條文及香港聯合交易所有限公司證券上市規則第13.09(2)條及 第13.10B作出。 本公司於2024年第三季度之財務數據乃根據中國企業會計準則編製並未經審計。合併 財務報表所載歸屬於母公司所有者的淨利潤及歸屬於母公司所有者權益與該等根據國 際財務報告準則編製的財務資料並無差異。 - 1 - 重要內容提示： 公司董事會、監事會及董事、監事、高級管理人員保證季度報告內容的真實、準確、完整，不存 在虛假記載、誤導性陳述或重大遺漏，並承擔個別和連帶的法律責任。 公司負責人、主管會計工作負責人及會計機構負責人（會計主管人員）保證季度報告中財務 ...

第十一届监事会第十二次会议决议公告 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 海尔智家股份有限公司(以下简称"公司")第十一届监事会第十二次会议于 2024 年 10 月 29 日上午在海尔科创生态园生态品牌中心中 118 会议室召开，会 议应到监事 3 人，实到监事 3 人，占公司监事总数的 100%，符合《公司章程》 规定的法定人数，公司高级管理人员列席了会议。会议通知于 2024 年 10 月 11 日以邮件形式发出，本次会议的通知和召开符合《公司法》与《公司章程》的规 定。会议由监事会主席刘大林先生主持。经与会监事审议，通过了以下议案： 一、审议通过《对<海尔智家股份有限公司 2024 年第三季度报告>审核意见 的报告》（表决结果：同意 3 票、反对 0 票、弃权 0 票） 股票代码：600690 股票简称：海尔智家 公告编号：临2024-039 海尔智家股份有限公司 根据《中华人民共和国证券法》的规定和《上市公司信息披露管理办法》以 及中国香港、德国等地的有关要求，我们作为公司的监事，在全面了解和审核公 司 2 ...

证券代码：600690 证券简称：海尔智家 公告编号：临 2024-041 海尔智家股份有限公司 关于召开 2024 年第一次临时股东大会的通知 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 一、 召开会议的基本情况 (一)股东大会类型和届次 2024 年第一次临时股东大会 (二)股东大会召集人：董事会 (三)投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合的 方式 股东大会召开日期：2024年12月20日 本次股东大会采用的网络投票系统：上海证券交易所股东大会网络投票 系统 拟出席本次临时股东大会的D股、H股股东参会事项，参见本公司于公 司境外信息披露平台（德国信息披露平台https://www.dgap.de/、香港联 交所网站https://www.hkexnews.hk）、德国联邦公报以及公司网站 http://smart-home.haier.com/en/ggyxw/，向D股股东、H股股东另行发出 的2024年第一次临时股东大会的通函等文件 (四)现场会议召开的日期、时间和地点 召 ...

Financial Performance - Revenue for the first three quarters of 2024 reached RMB 202.97 billion, a year-on-year increase of 2.2%[6] - Net profit attributable to shareholders for the first three quarters of 2024 was RMB 15.15 billion, up 15.3% year-on-year[6] - Gross profit margin for the first three quarters of 2024 was 30.8%, a slight increase of 0.1 percentage points compared to the same period in 2023[12] - Total operating revenue for the first three quarters of 2024 reached 202.97 billion yuan, an increase from 198.66 billion yuan in the same period of 2023[36] - Net profit for the first three quarters of 2024 was 15.44 billion yuan, up from 13.26 billion yuan in the same period of 2023[36] - Operating profit for the first three quarters of 2024 was 18.41 billion yuan, up from 16.21 billion yuan in the same period of 2023[36] - Haier Smart Home's net profit attributable to parent company shareholders reached RMB 15.15 billion, a year-on-year increase of 15.3%[37] - Haier Smart Home's revenue from sales of goods and services reached RMB 209.48 billion, a 3.1% increase year-on-year[38] - Haier Smart Home's basic earnings per share rose to RMB 1.64, a 16.3% increase from the previous year[37] - Haier Smart Home's comprehensive income attributable to parent company shareholders reached RMB 13.70 billion, a 4.5% year-on-year growth[37] - Revenue for the first three quarters of 2024 was 352.73 million yuan, a decrease from 546.67 million yuan in the same period of 2023[43] - Net profit for the period reached 559,808,949.88 RMB, a substantial increase from 22,002,127.19 RMB in the previous period[44] - Total comprehensive income for the period was 600,692,558.54 RMB, up from 44,338,167.18 RMB in the previous period[44] Expense Ratios and Efficiency - Sales expenses ratio for the first three quarters of 2024 was 14.2%, optimized by 0.5 percentage points year-on-year[13] - Management expenses ratio for the first three quarters of 2024 was 3.8%, optimized by 0.3 percentage points year-on-year[13] - Financial expenses ratio for the first three quarters of 2024 was 0.1%, up 0.1 percentage points year-on-year due to increased interest expenses overseas[13] - R&D expenses for the first three quarters of 2024 amounted to 8.13 billion yuan, slightly higher than 8.05 billion yuan in the same period of 2023[36] - Financial expenses showed a significant improvement, with a negative expense of 283.99 million yuan in the first three quarters of 2024, compared to a negative expense of 131.32 million yuan in the same period of 2023[43] Market and Business Expansion - South Asian market grew by over 30% in Q3 2024[10] - The company completed the acquisition of Carrier's commercial refrigeration business on October 1, 2024, aiming to expand B2B customized products and services[11] - The company launched the industry's first smart home appliance integration solution in July 2024, enhancing user experience in space utilization, aesthetics, and smart connectivity[7] Cash Flow and Financial Activities - Net cash flow from operating activities in the first three quarters of 2024 was RMB 13.876 billion, an increase of RMB 673 million compared to the same period in 2023, driven by higher operating profits and improved operational efficiency[16] - Net cash outflow from investing activities in the first three quarters of 2024 was RMB 12.060 billion, an increase of RMB 3.240 billion compared to the same period in 2023, mainly due to increased purchases of long-term fixed deposits and construction of fixed assets[16] - Net cash outflow from financing activities in the first three quarters of 2024 was RMB 8.776 billion, an increase of RMB 1.998 billion compared to the same period in 2023, primarily due to increased dividend payouts and higher interest expenses overseas[16] - The company's operating cash flow for the first three quarters of 2024 was RMB 13.88 billion, up 5.1% compared to the same period last year[38] - The company's investment cash outflow increased significantly to RMB 26.29 billion, up 54.8% compared to the same period last year[38] - Haier Smart Home's cash and cash equivalents decreased by RMB 7.32 billion, ending the quarter at RMB 46.66 billion[39] - The company's financing cash outflow was RMB 16.51 billion, a 25.1% decrease compared to the same period last year[39] - Haier Smart Home's foreign exchange loss on cash and cash equivalents was RMB 360.33 million, compared to a gain of RMB 586.95 million in the same period last year[39] - The company's investment cash inflow increased by 74.3% year-on-year to RMB 14.23 billion[38] - Cash received from sales of goods and services was 543,255,059.97 RMB, compared to 70,907,378.37 RMB in the previous period[45] - Net cash flow from operating activities was 424,811,292.67 RMB, up from 70,858,288.97 RMB in the previous period[45] - Net cash flow from investing activities was -10,216,384,728.25 RMB, compared to -2,888,357,365.30 RMB in the previous period[45] - Net cash flow from financing activities was 5,333,714,837.88 RMB, down from 7,643,999,125.52 RMB in the previous period[45] - The ending balance of cash and cash equivalents was 3,143,605,422.18 RMB, compared to 10,580,713,772.20 RMB in the previous period[45] Asset and Liability Management - The company's total assets as of the end of Q3 2024 were RMB 256.13 billion, a 1.09% increase compared to the end of the previous year[4] - Accounts receivable and notes turnover days increased to 41.5 days in the first three quarters of 2024, up by 3.5 days compared to the end of 2023, mainly due to an increase in received notes[14] - Inventory turnover days improved to 78.3 days in the first three quarters of 2024, down by 3.6 days compared to the end of 2023, driven by effective inventory control and optimization[14] - Accounts payable and notes turnover days decreased to 136.8 days in the first three quarters of 2024, down by 0.8 days compared to the end of 2023, due to optimized payment policies[15] - Capital expenditures in the first three quarters of 2024 amounted to RMB 6.237 billion, with RMB 3.470 billion spent domestically and RMB 2.767 billion spent overseas, mainly on factory and equipment construction, property leasing, and IT infrastructure[17] - The asset-liability ratio at the end of Q3 2024 was 56.2%, a decrease of 2 percentage points compared to the end of 2023, driven by increased net profit and higher net assets[18] - The company's foreign exchange derivative transactions balance at the end of the reporting period was approximately USD 1.15 billion[26] - The company's entrusted wealth management balance at the end of the reporting period was 24.56 billion yuan, including 24.38 billion yuan from subsidiaries' idle funds and 0.18 billion yuan from employee stock ownership plan funds[27] - As of September 30, 2024, the company's monetary funds stood at 47,081,269,568.37 yuan, a decrease from 54,486,452,841.14 yuan at the end of 2023[33] - The company's trade receivables increased to 21,278,009,921.47 yuan as of September 30, 2024, compared to 20,268,099,436.43 yuan at the end of 2023[33] - Inventory decreased to 38,453,100,259.83 yuan as of September 30, 2024, from 39,524,006,616.33 yuan at the end of 2023[33] - The company's total current assets as of September 30, 2024, were 128,135,267,811.22 yuan, down from 132,620,484,091.53 yuan at the end of 2023[33] - Long-term equity investments increased to 26.43 billion yuan in Q3 2024, up from 25.55 billion yuan in the previous period[34] - Fixed assets stood at 29.76 billion yuan in Q3 2024, compared to 29.60 billion yuan in the previous period[34] - Total liabilities decreased to 143.97 billion yuan in Q3 2024 from 147.47 billion yuan in the previous period[35] - Owner's equity increased to 112.16 billion yuan in Q3 2024, up from 105.91 billion yuan in the previous period[35] - Contract liabilities decreased to 3.53 billion yuan in Q3 2024 from 7.73 billion yuan in the previous period[34] - Total assets increased to 256.13 billion yuan in Q3 2024 from 253.38 billion yuan in the previous period[34] - Total assets increased to 102.88 billion yuan as of September 30, 2024, compared to 96.43 billion yuan at the end of 2023[41] - Total liabilities rose to 64.08 billion yuan as of September 30, 2024, from 50.55 billion yuan at the end of 2023[42] - Owner's equity decreased to 38.80 billion yuan as of September 30, 2024, from 45.88 billion yuan at the end of 2023[42] - Long-term equity investments increased to 61.20 billion yuan as of September 30, 2024, from 55.83 billion yuan at the end of 2023[41] - Current liabilities increased to 60.40 billion yuan as of September 30, 2024, from 46.34 billion yuan at the end of 2023[41] - Non-current liabilities decreased to 3.67 billion yuan as of September 30, 2024, from 4.21 billion yuan at the end of 2023[42] - Monetary funds decreased to 3.14 billion yuan as of September 30, 2024, from 7.58 billion yuan at the end of 2023[40] Employee Stock Ownership and Share Repurchase - The 2024 A-share and H-share employee stock ownership plans were completed, with 1,926 A-share holders receiving 11,195,104 shares and 30 H-share holders receiving 1,200,887 shares[28][29] - The 2023 A-share and H-share employee stock ownership plans saw 2,138 A-share holders receiving 7,927,583 shares and 30 H-share holders receiving 890,393 shares[30] - The company completed the cancellation of 54,051,559 repurchased A-shares, reducing the total share capital from 9,438,114,893 shares to 9,384,063,334 shares[31][32] Government Subsidies and Other Income - Government subsidies recognized in the current period amounted to RMB 213.42 million, with a cumulative amount of RMB 587.22 million from the beginning of the year to the end of the reporting period[20] - Interest income increased to 340,147,109.64 RMB, up from 201,787,158.84 RMB in the previous period[44] - Investment income rose significantly to 601,130,398.38 RMB, compared to 204,416,213.65 RMB in the previous period[44] Accounting and Reporting - The company did not apply new accounting standards or interpretations for the first time in 2024[47]

华泰联合证券有限责任公司 关于 海尔智家股份有限公司签署表决权委托协 议暨关联交易之独立财务顾问报告 独立财务顾问 签署日期：二〇二四年十月 释义 2、本财务顾问报告是在假设本次交易各方当事人均全面和及时履行本次交 易相关协议和声明或承诺的基础上出具； 3、本财务顾问报告不构成对上市公司的任何投资建议或意见，对投资者根 据本财务顾问报告作出的任何投资决策可能产生的风险，本独立财务顾问不承担 任何责任； 4、本独立财务顾问未委托或授权其他任何机构和个人提供未在本财务顾问 报告中列载的信息和对本财务顾问报告做任何解释或说明； 5、本独立财务顾问特别提请广大投资者认真阅读就本次交易事项披露的相 关公告，查阅有关文件。 2 在本报告中，除非文中另有所指，下列简称具有如下特定含义： | | 一般名词 | | | --- | --- | --- | | 公司、上市公司、海尔智家 | 指 | 海尔智家股份有限公司 | | 海尔集团 | 指 | 海尔集团公司，海尔智家实际控制人 | | 贯美公司 | 指 | 贯美（上海）企业管理有限公司，海尔智家控制的企 | | 业 | | | | 冰戟公司 | 指 | 冰戟（上海）企业管理 ...

股票代码：600690 股票简称：海尔智家 公告编号：临2024-038 海尔智家股份有限公司 内容详见与本公告同日刊登于上海证券交易所网站（www.sse.com.cn）的 《海尔智家股份有限公司 2024 年第三季度报告》。 第十一届董事会第十二次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 海尔智家股份有限公司（以下简称"公司"）第十一届董事会第十二次会议于 2024 年 10 月 29 日上午在青岛市海尔科创生态园生态品牌中心中 118 会议室召 开，应到董事 9 人，实到董事 9 人，其中董事李锦芬、吴琪以通讯方式参会，其 他董事现场参会，出席人数符合法律法规和《公司章程》的规定。本次会议通知 于 2024 年 10 月 11 日以电子邮件形式发出，公司监事和高级管理人员列席了会 议，会议的通知和召开符合《公司法》和《公司章程》的规定，会议由董事长李 华刚先生主持。经与会董事认真审议，审议通过了以下议案： 一、《海尔智家股份有限公司 2024 年第三季度报告》（表决结果：同意 9 票、反对 0 票、弃 ...

证券代码：600690 证券简称：海尔智家 编号：临 2024-040 海尔智家股份有限公司 关于签署表决权委托协议暨关联交易的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： - 1 - 概述：海尔智家股份有限公司（以下简称"公司"或"海尔智家"）全资子公司贯 美（上海）企业管理有限公司（以下简称"贯美公司"）直接持有优瑾（上海）企 业管理有限公司（以下简称"优瑾公司"）45%股权，公司关联方冰戟（上海）企 业管理有限公司（以下简称"冰戟公司"）直接持有优瑾公司 55%股权。2024 年 10 月 29 日，冰戟公司与贯美公司签署《表决权委托协议》，冰戟公司将其持有的 优瑾公司 55%股权对应表决权不可撤销地委托贯美公司行使（以下简称"本事 项"）。本事项完成后，贯美公司将实际控制优瑾公司 100%表决权比例，优瑾公 司控制的日日顺（上海）投资有限公司（以下简称"日日顺上海"）、日日顺供应 链科技股份有限公司（以下简称"日日顺"）及其控股子公司均将成为公司实际控 制的主体，优瑾公司、日日顺上海、日日顺及其 ...

Investment Rating - The investment rating for Haier Smart Home is "Outperform the Market" [1]. Core Views - Haier Smart Home is the leading global brand in large home appliances, with a product range that includes refrigerators, washing machines, air conditioners, and water heaters. The company has established seven major appliance brands globally, including Haier, Casarte, GE Appliances, Fisher&Paykel, and AQUA. As of 2023, overseas revenue accounted for 52% of total revenue, showcasing its leadership in the international market [1]. Revenue and Profit Growth - From 2010 to 2023, the company's revenue grew at a compound annual growth rate (CAGR) of 11% to reach 261.4 billion yuan, while net profit attributable to shareholders increased at a CAGR of 17% to 16.6 billion yuan. In North America, Haier's market share in large appliances has risen to first place, with the North American appliance market retail size reaching 120.7 billion USD in 2023, growing at a CAGR of 5.4% from 2013 to 2023 [1][2]. Regional Market Insights - **North America**: The market is mature with steady growth. Haier's market share in major appliance categories remains strong, with expectations of revenue growth of 28% in the region by 2023 [1]. - **Europe**: The market is fragmented, but Haier's revenue is growing rapidly. The European appliance market retail size reached 116.2 billion USD in 2023, with a CAGR of 1.4% from 2013 to 2023. Haier's market share in Europe reached 8.9% in 2023, with significant growth potential [1]. - **Australia and New Zealand**: The market is competitive, with Haier's market share at 15% in 2023. Future revenue is expected to grow by 31% [1]. - **Japan**: The market is characterized by declining volumes but increasing prices. Haier's market share in Japan is close to 8%, with expectations of a 49% revenue increase by 2023 [1]. - **Southeast Asia and South Asia**: The market is in a growth phase, with Haier's market share at 8.4% in 2023. Revenue is projected to exceed 40 billion yuan, representing a 163% growth potential [1]. - **Middle East and Africa, Latin America**: The market is fragmented with low market share for Haier, but significant growth potential exists, with expected revenue increases of 162% and 271% respectively [1]. Financial Forecasts - The company is expected to achieve net profits of 18.9 billion yuan, 21.4 billion yuan, and 24 billion yuan for the years 2024, 2025, and 2026 respectively, reflecting growth rates of 14%, 12.9%, and 12.3% [2]. The reasonable valuation range is estimated at 34.76 to 38.10 yuan, indicating a premium of 13% to 24% over the current stock price [1].

海尔智家 20240926 摘要 • 以旧换新政策在湖北等地实施效果显著，零售端销售额增长超过 20%，部 分卡萨帝门店销售额增长甚至达到 100%。 • 以旧换新政策推动了客单价提升，冰箱、洗衣机和彩电产品的平均客单价 提升至约 8,000 元，高端空调表现也更为突出。 • 以旧换新政策对空调品类影响最大，补贴金额占比约 40%，但随着夏季结 束，重心将转向冰箱和洗衣机等品类。 • 海尔智家积极增加国内外产能，预计空调行业至少还有 60-80%的上涨空 间，以满足未来长期稳定增长的需求。 • 经过八九月份活动落地后，渠道库存压力得到显著释放，市场态势已出现 拐点，公司整体库存控制在两个月左右，是一个健康水平。 • 今年空调出口增长约 30%，新兴市场如印度和东南亚地区夏季气温创下历 史新高，直接提振了空调需求。 Q&A 近期以旧换新政策在湖北等地的实施效果如何？具体表现在哪些方面？ 自 8 月 10 日以旧换新政策在湖北落地以来，根据内部治理调研，已实施该政策 的省市如湖北、四川、重庆和云南等地的零售端销售额增长超过 20%。例如，在 湖北一些准备充分、宣传到位的卡萨帝门店，从 8 月 10 日至 27 日 ...

Market Position and Growth - Haier Smart Home Co., Ltd. has maintained its position as the global leader in major appliance retail for 15 consecutive years, with significant market presence in over 160 countries[2]. - The company reported a continuous top position in global retail sales of refrigeration and laundry appliances for 16 and 15 years respectively[2]. - The company is actively expanding its market presence and product offerings, focusing on smart home solutions to meet diverse consumer needs[2]. - The management discussion highlights future growth prospects and performance guidance, focusing on expanding market share in emerging regions[2]. - The company plans to continue expanding its market presence and investing in new technologies[18]. - The company completed the acquisition of 100% equity in Zhengzhou Haiyong New Enterprise Management Co., Ltd. for approximately RMB 25 million in December 2023, using the merger accounting method[30]. - The company completed the acquisition of Electrolux South Africa, enhancing its strategic deployment in the African market[140]. Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 135,621 million, an increase of 3.8% from RMB 131,616 million in the same period of 2023[11]. - Gross profit for the same period was RMB 40,784 million, up from RMB 39,216 million, reflecting a gross margin improvement[11]. - Net profit attributable to the company's owners was RMB 10,420 million, a significant increase of 16.2% compared to RMB 8,963 million in the prior year[12]. - Basic earnings per share increased to RMB 1.13 from RMB 0.96, representing a growth of 17.7%[12]. - Total comprehensive income for the period was RMB 10,272 million, compared to RMB 9,180 million in the previous year, marking a 11.9% increase[11]. - For the six months ended June 30, 2024, the company reported a pre-tax profit of RMB 12,739 million, an increase of 14.6% compared to RMB 11,114 million for the same period in 2023[21]. - The company reported a total comprehensive income of RMB 108,584 million for the period[19]. - The company’s interest income increased to RMB 798 million from RMB 411 million, reflecting a growth of 94% year-over-year[21]. Assets and Liabilities - Non-current assets totaled RMB 127,733 million as of June 30, 2024, up from RMB 120,759 million at the end of 2023[14]. - Current assets amounted to RMB 134,517 million, an increase from RMB 132,621 million at the end of 2023[14]. - Total liabilities increased to RMB 153,666 million from RMB 144,468 million, indicating a rise in financial obligations[15]. - The company's net asset value was RMB 108,584 million, up from RMB 105,912 million, reflecting a solid equity position[15]. - Total equity reached RMB 105,912 million, an increase of 10,607 million compared to the previous period[19]. - The group’s interest-bearing borrowings amounted to RMB 30,067 million as of June 30, 2024, compared to RMB 28,396 million as of December 31, 2023, reflecting an increase of approximately 5.89%[92]. Cash Flow and Investments - The net cash generated from operating activities was RMB 7,818 million, compared to RMB 6,790 million in the same period last year, representing an increase of 15.1%[22]. - The company experienced a net cash outflow from investing activities of RMB 7,334 million, compared to RMB 4,333 million in the previous year, indicating a significant increase in investment expenditures[22]. - The company reported a decrease in financing cash flow net amounting to RMB (191) million, compared to RMB (1,269) million in the previous year, indicating improved financing management[22]. - The group acquired properties, plants, and equipment amounting to RMB 3,052 million for the six months ended June 30, 2024, compared to RMB 2,845 million for the same period in 2023[79]. Segment Performance - The segment revenue from the refrigerator and freezer business was RMB 41.128 billion, showing a growth from RMB 40.405 billion in the previous year, while the air energy solution segment generated RMB 29.235 billion, up from RMB 28.176 billion[37][39]. - The company reported segment performance with the home food preservation and cooking solutions generating a profit of RMB 3.539 billion, while the home laundry solutions segment reported a profit of RMB 3.090 billion[37]. - Revenue from the home food preservation and cooking solutions segment, specifically refrigerators/freezers, increased by 1.8% to RMB 41,128 million from RMB 40,405 million in the previous year[191]. - Revenue from air energy solutions, particularly air conditioning, rose by 3.8% to RMB 29,235 million from RMB 28,176 million in the previous year[193]. - Revenue from the home laundry solutions segment, specifically washing machines, increased by 5.0% to RMB 29,737 million from RMB 28,314 million in the previous year[194]. Innovation and Product Development - Haier's smart home solutions are supported by the Haier Smart Home Experience Cloud platform, integrating various smart appliances and user scenarios[2]. - The company emphasizes its commitment to sustainability and innovation in product development, aligning with global trends in smart home technology[2]. - The company continues to invest in research and development to advance its product lines and maintain competitive advantage in the appliance market[2]. - The company launched a new generation of dishwashers in North America, investing USD 118 million to upgrade production lines[128]. - The company introduced innovative products such as the Casa Di refrigerator series, achieving a 98% year-on-year sales growth in the first half of 2024[124]. Market Trends and Challenges - The overall white goods market in China saw a retail value decline of 6.2% in the first half of 2024, with a volume drop of 2.4%[164]. - The company faces risks from macroeconomic slowdown, which could negatively impact market demand for durable consumer goods[181]. - The company aims to enhance profitability through product upgrades, local supply chain layout, and digital transformation across all processes[180]. - The company will manage inventory levels to avoid excess stock and lost sales opportunities, regularly assessing inventory impairment[183].