证券代码：600690 证券简称：海尔智家 公告编号：临 2025-064 海尔智家股份有限公司 2025年第一次临时股东会、2025 年第二次 A 股/D 股/H 股类别股东会决议公告 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。 重要内容提示： （3）出席 2025 年第二次 D 股类别股东会情况： | 1、出席会议的股东和代理人人数 | 48 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 159,715,140 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份总 | 58.93 | | 数的比例（%） | | （4）出席 2025 年第二次 H 股类别股东会情况： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 10 月 16 日 (二)股东会召开的地点：青岛市崂山区海尔科创生态园谦园 B101 会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 年第一次临时股东会情况： （1）出席 202 ...

北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦律师事务所 关于海尔智家股份有限公司 2025 年第一次临时股东会、2025 年第二次 A 股类别 股东会、2025 年第二次 D 股类别股东会、2025 年第 二次 H 股类别股东会的 法律意见书 二〇二五年十月 北京市中伦律师事务所 关于海尔智家股份有限公司 2025 年第一次临时股东会、2025 年第二次 A 股类别股东会、2025 年第二次 D 股类别股东会、2025 年第二次 H 股类别股东会的法 律意见书 致：海尔智家股份有限公司 ...

格隆汇10月16日丨海尔智家(06690.HK)宣布，本公司谨订于2025年10月30日（星期四）举行董事会会 议，以考虑及批准（其中包括）本公司及其附属公司截至2025年9月30日止9个月的第三季度业绩及其发 布。 ...

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 董事會會議召開日期 承董事會命 海爾智家股份有限公司 董事長 李華剛 中國青島 2025年10月16日 於本公告日期，本公司執行董事為李華剛先生及Kevin Nolan先生；非執行董事為 宮偉先生、俞漢度先生、錢大群先生及李少華先生；獨立非執行董事為王克勤先 生、李世鵬先生、吳琪先生及汪華先生；及職工董事為孫丹鳳女士。 * 僅供識別 海爾智家股份有限公司（「本公司」）董事會（「董事會」）宣佈，本公司謹訂於2025年10 月30日（星期四）舉行董事會會議，以考慮及批准（其中包括）本公司及其附屬公司截 至2025年9月30日止9個月之第三季度業績及其發佈。 ...

Core Viewpoint - Haier's new washing machine, featuring a groundbreaking four-tub design, represents a significant innovation in the industry, moving beyond traditional competition focused on the number of tubs to a new standard of differentiated washing and care [1][3]. Group 1: Product Innovation - The "Fusion Washing and Care Home" integrates a 10KG washing tub, a 10KG drying tub, and two 1KG specialized washing tubs, allowing for simultaneous washing of different types of clothing, thus enhancing user convenience and care standards [3][5]. - The machine's design occupies only 0.36 square meters, demonstrating efficient use of space while providing comprehensive washing and drying capabilities for various fabric types [3]. Group 2: Technology and Performance - Haier employs original suspension vibration balancing technology, ensuring that the four tubs can operate simultaneously with a vibration amplitude controlled within 0.3mm, addressing common concerns about noise and stability [5]. - The washing tub utilizes AI direct drive technology for optimal cleaning performance, while the drying tub can dry 4KG of clothes in just 45 minutes, showcasing advanced efficiency [5]. Group 3: User Experience - The machine features a smart control interface that allows users to set different tasks for each tub simultaneously, enhancing usability and comfort with a 1.4-meter operational height [5][7]. - Haier's commitment to user experience is evident in its design choices, such as a unique drainage system that prevents cross-contamination of water, ensuring a tailored washing experience [7]. Group 4: Market Position and Impact - Haier has established itself as a leader in the multi-tub washing machine market, having pioneered innovations from dual to triple and now quadruple tub designs, consistently responding to evolving consumer needs [6][9]. - The company holds a 41.1% market share in the domestic market and has been the global sales leader for 16 consecutive years, reflecting its strong competitive position and brand recognition [9].

Core Insights - The article emphasizes the importance of standards in driving industrial upgrades, guiding technological directions, and establishing global market influence, highlighting Haier Smart Home's leadership in the global home appliance industry [1] Group 1: Industry Leadership - Haier Smart Home has led the industry by participating in and dominating the formulation of 116 international standards and 840 national/industry standards, the highest in the sector [2] - The company is the only one globally to be part of both IEC IB and MSB management bodies and the only Chinese home appliance company to undertake the IEC technical committee secretariat [2] - Haier Smart Home has initiated several international standards, including the world's first international standard for refrigerator preservation and the first performance testing standard for multi-tub washing machines [2] Group 2: Technological Innovation - Continuous investment in technology innovation has been a cornerstone of Haier Smart Home's standard-setting capabilities, with R&D investment reaching 100 billion yuan since 2018 and 4.14% of revenue allocated to R&D in 2023 [3] - The company holds the top position in the industry for patents, with 2,208 public patent applications, leading the global smart home patent rankings for 13 consecutive years [3] Group 3: Globalization Strategy - Haier Smart Home has established a "10+N" global R&D system, leveraging an online HOPE platform that connects over 250,000 experts and 1 million R&D resources, enabling rapid response to diverse market needs [3] - The company's localized innovations, such as large-capacity refrigerators for European and American markets and energy-saving air conditioners for Southeast Asia, provide a solid foundation for regional and global standard formulation [3] Group 4: Standards as a Bridge - In the modern industrial system, standards serve as a bridge connecting user needs, technological innovation, and market rules, allowing Haier Smart Home to solidify its industry leadership while contributing to the global home appliance industry's development [3]

Group 1 - The core point of the article highlights the significant increase in sales for home appliance stocks in Hong Kong, with major companies like Midea Group, TCL Electronics, Hisense Home Appliances, and Haier Smart Home showing positive stock performance [1] - As of October 14, 2023, during JD.com's 11.11 shopping festival, orders for major categories including home appliances, mobile phones, and digital products saw over 70% year-on-year growth, indicating a strong market position for these sectors [1] - The upcoming Tmall Double 11 event, starting on October 15, 2023, is expected to offer substantial discounts, further driving consumer interest in large and small home appliances [1] Group 2 - Consumer purchasing intent for major home appliances (air conditioners, refrigerators, televisions) and upgraded small appliances (robot vacuums, projectors, high-end kitchen appliances) is notably strong during the Double 11 shopping festival, which is crucial for quarterly and annual revenue growth for appliance companies [1] - The stock performance of key players in the home appliance sector includes Midea Group up by 2.5%, TCL Electronics up by 1.12%, Hisense Home Appliances up by 1.08%, Haier Smart Home up by 1.07%, and JS Global Life up by 0.55% [1]

Summary of Key Points from Conference Call Records Industry Overview - The conference call discusses the **Chinese consumer market** and its various segments, including traditional, emerging, and technology-driven consumption trends [1][3][6][41]. Core Insights and Arguments - **Government Initiatives**: The Chinese government is prioritizing consumption stimulation through policies such as a subsidy program for replacing old products, with a budget of **300 billion** yuan for 2025, up from **150 billion** yuan in 2024 [3][4][41]. - **Consumer Trends**: Traditional consumption faces challenges due to declining birth rates and changing consumer attitudes, while emerging consumption benefits from demographic shifts and a focus on cost-effectiveness [6][41]. - **Technology Consumption Growth**: The technology sector is rapidly expanding, particularly in electronics and AI, with brands like **Roborock** and **Ecovacs** establishing a high-end presence in Western markets [6][8][41]. - **Globalization of Chinese Brands**: Chinese companies are effectively responding to tariff fluctuations by relocating production to Southeast Asia and enhancing global supply chains, with brands like **Midea**, **Haier**, and **TCL** achieving significant international market penetration [9][10][41]. - **Fast Fashion Competitiveness**: Chinese fast fashion brands are leveraging digital technologies in supply chains to enhance responsiveness, surpassing traditional Western competitors like **Zara** and **H&M** [11][41]. - **Cultural and Entertainment Products**: The international competitiveness of Chinese lifestyle and entertainment brands is increasing, exemplified by **Anta's** acquisition of **Amer Sports** and the success of **Pop Mart** in overseas markets [12][41]. Additional Important Insights - **Service Consumer Development**: The growth of service-oriented consumers is linked to open-mindedness rather than mere supply issues, with potential future support from government policies [7][41]. - **Outdoor Apparel Market**: The outdoor apparel market is experiencing rapid growth post-pandemic, driven by increased demand for outdoor activities and a shift towards health-conscious lifestyles [13][41]. - **Running as a New Consumption Trend**: The running segment is gaining popularity, particularly among the 35-45 age group, with brands like **HOKA** and **Asics** showing strong growth [14][15][41]. - **Textile Industry Dynamics**: The textile and apparel sector is seeing varied performance, with retail growth dependent on seasonal weather conditions and consumer demand [17][41]. - **Pet Food Industry Internationalization**: Chinese pet food companies are transitioning from product exports to capacity and brand exports, with significant investments in overseas production facilities [30][31][32][41]. - **Future of the Alcohol Industry**: The liquor industry may face short-term adjustments but is expected to recover in the long term, particularly with potential government support for service-oriented policies [36][41]. Investment Opportunities - **Consumer Sector**: Companies with low valuations and strong supply chains, such as **Qingdao Beer** and **Poly Food**, are highlighted as potential investment opportunities [39][41]. - **New Consumption Brands**: Brands in the new consumption space, particularly in beverages and innovative food products, are expected to perform well in the upcoming fiscal year [40][41]. - **Service Consumption Growth**: The new tea beverage sector is identified as a high-potential area, with expected double-digit growth in the coming years [24][25][41]. This summary encapsulates the key points discussed in the conference call, providing insights into the current state and future outlook of the Chinese consumer market and related industries.

Core Viewpoint - Haier Smart Home's stock increased by 1.19% with a trading volume of 1.69 billion yuan and a market capitalization of 238.45 billion yuan [1] Group 1: Company Overview - Haier Group, founded in 1984, has expanded from producing refrigerators to a wide range of sectors including home appliances, IT, logistics, finance, real estate, and biopharmaceuticals, becoming a global leader in providing solutions for a better life [2] - The company holds a 10.2% share of the global retail volume in 2014, maintaining its position as the world's largest home appliance brand for six consecutive years [2] - Haier Smart Home's main business includes the research, production, and sales of home appliances such as refrigerators, kitchen appliances, air conditioners, washing machines, and water appliances, along with providing comprehensive smart home solutions [4][8] Group 2: Financial Performance - For the first half of 2025, Haier Smart Home achieved a revenue of 156.49 billion yuan, representing a year-on-year growth of 15.39%, and a net profit attributable to shareholders of 12.03 billion yuan, up 15.48% year-on-year [8] - The company's revenue composition includes refrigerators (27.17%), air conditioners (20.94%), washing machines (20.22%), kitchen appliances (13.10%), and water appliances (6.11%) [8] - Haier Smart Home has distributed a total of 46.155 billion yuan in dividends since its A-share listing, with 21.766 billion yuan distributed in the last three years [9] Group 3: Shareholder Structure - Among the top ten circulating shareholders, Central Huijin Asset Management and China Securities Finance Corporation are included [3] - As of June 30, 2025, the number of shareholders reached 207,500, an increase of 9.97% from the previous period [8] - Hong Kong Central Clearing Limited is the fifth-largest circulating shareholder, holding 450 million shares, a decrease of 131 million shares from the previous period [9]

Core Insights - A-share listed companies are experiencing a surge in stock buybacks, with 17 companies announcing buyback progress on October 14 alone [1] - From January 1 to October 14, 2023, 1,374 A-share companies have executed buybacks, totaling over 11.25 billion yuan in repurchased shares [1] - The trend of "cancellation buybacks" is gaining attention, driven by policy guidance and market logic [2] Group 1: Buyback Trends - 1374 A-share listed companies have repurchased over 11.25 billion shares, amounting to 112.596 billion yuan [1] - 13 companies have repurchased over 1 billion yuan, with Midea Group leading at 6.769 billion yuan [1] - The number of companies disclosing buyback plans and implementing them is increasing, indicating a growing trend [1] Group 2: Policy Support - The People's Bank of China has optimized stock buyback financing policies, reducing the self-funding ratio from 30% to 10% and extending loan terms from 1 year to 3 years [2] - A total of 750 companies or major shareholders have accessed buyback financing, amounting to approximately 151.854 billion yuan [3] - The merger of financing tools aims to enhance flexibility and efficiency in utilizing policy funds [3] Group 3: Market Impact - The stock buyback financing has provided low-cost capital to companies, boosting investor confidence and market attention [3] - The ongoing support for buybacks is expected to evolve from a temporary measure to a more permanent mechanism, stabilizing the market [3]