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) 確認 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； 表格類別： 股票 狀態： 新提交 公司名稱： 海爾智家股份有限公司 呈交日期： 2025年8月7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 A ...

Summary of Key Points from the Conference Call Industry Overview - The home appliance industry is experiencing significant growth potential in emerging markets, which account for 67% of the global population but only 32% of home appliance retail sales, indicating a substantial opportunity for growth [1][2][4] Core Insights and Arguments - **Emerging Market Growth**: Emerging markets are expected to be a key growth driver for the home appliance industry, with a notable increase in demand for air conditioners, refrigerators, and washing machines due to low penetration rates compared to developed countries [1][2][5] - **Air Conditioner Market**: The air conditioner market is growing rapidly, closely linked to GDP per capita. Countries with GDP per capita reaching $3,000 or $6,000 show significant increases in penetration rates [1][7] - **Export Recovery**: China's home appliance exports are gradually recovering from tariff impacts, with a notable increase in exports to Southeast Asia, Latin America, and the U.S. [1][8] - **Domestic Market Growth**: The domestic market is experiencing steady growth driven by the "trade-in for new" policy, with air conditioner shipments increasing by 8% and washing machines showing double-digit growth in the first five months of 2025 [1][9] Competitive Landscape - **Market Dynamics**: The competitive landscape is stabilizing, with Xiaomi's market share leveling off and major players like Midea and Gree adjusting their product structures [3][12] - **Small Appliances Growth**: The small appliance market, particularly for robotic vacuum cleaners and floor washers, continues to show high growth, with companies like Ecovacs reporting revenue and profit growth exceeding expectations [3][13] Investment Recommendations - **Focus on Dividend Stocks**: Investment strategies should focus on companies with strong dividend yields such as Gree, Midea, Haier, and Hisense, which have dividend rates exceeding 4% [3][15] - **Export Opportunities**: Companies in the export sector, particularly in small appliances and black electronics, are recommended for investment due to their growth potential in emerging markets and the U.S. [3][16][19] Additional Important Insights - **Impact of National Subsidies**: The national subsidy policy has led to structural growth in the domestic market, with significant price increases observed [1][9][14] - **Long-term Potential of Robotic Vacuums**: The robotic vacuum segment is viewed as a long-term growth area due to its strong growth potential and limited impact from domestic subsidy policies [3][17] - **Advantages of OEMs**: OEMs like New Bao and Dechang are positioned well in the global market due to scarce overseas production capacity, which enhances their competitiveness in exports to the U.S. [3][19]

Core Insights - Chinese home appliance brands face significant challenges entering the Italian market due to strong local brand loyalty and competition from established Korean brands. However, opportunities exist as evidenced by Haier's strong performance in the region [1] Market Performance - Haier washing machines ranked TOP2 in overall market share in Europe for the first half of 2025, achieving the highest sales volume and revenue among Chinese companies. In Italy, Haier led in both market share and growth rate, with Candy holding the top single-brand share and leading in dryer sales [1] Product Innovation - The Candy Pro Wash 700 washer-dryer set has become a local bestseller, featuring a 40% energy efficiency rating, 54% energy savings compared to traditional models, and 25% water savings. It utilizes Pro Active washing technology to remove 99% of everyday stains and includes an innovative XL soft drum to protect various fabric types [2] Brand Strategy - Haier has established a multi-brand strategy in Italy with Haier, Hoover, and Candy to cater to diverse consumer needs. The Haier X11 washing machine series exceeds European energy standards by 60% and features unique technologies that address common issues, contributing to a 15% increase in high-end market share [3] Local Engagement - Haier actively participates in local community initiatives, such as donating to charity laundry services, enhancing brand perception and engagement in Italy. The company also celebrated Candy's 80th anniversary with a pop-up event in Milan, attracting significant public interest [3] Operational Expansion - Haier has set up R&D centers in Italy and Germany, along with a manufacturing facility in Turkey, allowing for quicker response times and lower costs in the European market. This strategic positioning highlights the potential for Chinese companies to succeed in competitive environments through localized innovation and brand development [4]

智通财经APP讯，海尔智家(06690)发布公告，于2025年8月6日斥资252万元回购A股股份10万股，每股 回购价格为25.19-25.21元。 ...

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) 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 。 根據《主板上市規則》第13.25C條 / 《GEM上市規則》第17.27C條，我們在此確認，據我們所知所信，第一章節所述的每項股份發行或庫存股份出售或轉讓已獲發行人董事會正式授權批准，並遵 照所有適用上市規則、法律及其他監管規定進行，並在適用的情況下： (註7) (i) 上市發行人已收取其在是次股份發行或庫存股份出售或轉讓應得的全部款項； (viii) 有關債券、借貸股份、票據或公司債券的信託契約/平邊契據經已製備及簽署，有關詳情已送呈公司註冊處處長存檔（如法律如此規定）。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 ...

Core Insights - Haier is successfully attracting a younger consumer demographic, with a 3% increase in brand purchase rate among the 18-30 age group according to Kantar data for 2024 [1] - The launch of the "Little Red Flower" series has led to significant online engagement, achieving top rankings on platforms like Tmall and JD, and over 88 million views on Xiaohongshu [1][4] - Haier's strategy involves understanding and addressing the needs of younger consumers, balancing traditional brand strengths with modern demands [7] Product Innovation - The "Little Red Flower" series includes over ten product categories such as refrigerators, washing machines, and air conditioners, designed to meet the dual demands of convenience and sophistication for young consumers [4] - Innovative features include AI-driven smart management systems for food storage, automatic fabric care recognition in washing machines, and energy-efficient air conditioning that adapts to living environments [4][6] - The design philosophy emphasizes aesthetic appeal, utilizing a minimalist approach with a snow-white color scheme to integrate seamlessly into modern home decor [6] Market Positioning - Young consumers, particularly those born in the 1990s and Generation Z, represent 40% of the national consumption scale, making them a crucial target market for Haier [7] - Haier's engagement with younger audiences extends beyond products, as seen in collaborations like the "AI Home Manager" program, which tailors home solutions to diverse young lifestyles [7] - The brand's ability to merge traditional values of quality and service with contemporary consumer expectations positions Haier as a relevant player in the future market landscape [7]

来源：金融界 金融界消息 截至2025年8月6日收盘，海尔智家（600690）报收于25.23元，上涨0.8%，换手率0.55%， 成交量34.61万手，成交金额8.71亿元。 资金流向方面，今日主力资金净流入9848.83万元，占比成交额11.31%。其中，超大单净流入1.96亿 元、占成交额22.52%，大单净流出9757.50万元、占成交额11.21%，中单净流出流出5457.66万元、占成 交额6.27%，小单净流出4391.17万元、占成交额5.04%。 海尔智家最新一期业绩显示，截至2025一季报，公司营业总收入791.18亿元、同比增长10.06%，归属净 利润54.87亿元，同比增长15.09%，扣非净利润53.64亿元，同比增长15.61%，流动比率1.073、速动比率 0.762、资产负债率57.37%。 天眼查商业履历信息显示，海尔智家股份有限公司，成立于1994年，位于青岛市，是一家以从事电气机 械和器材制造业为主的企业。企业注册资本943811.4893万人民币，实缴资本943696.4893万人民币。公 司法定代表人为李华刚。 通过天眼查大数据分析，海尔智家股份有限公司共对外投资了 ...

Summary of Haier Smart Home Conference Call Company Overview - Haier Smart Home is a collective ownership company, not a state-owned enterprise, with a complex shareholding structure [4][8] - Founded by Zhang Ruimin, who emphasized quality and global brand development [4] Industry and Market Dynamics - The company operates in the home appliance industry, focusing on both domestic and international markets [2] - The U.S. real estate market recovery is expected to positively impact GEA's revenue, enhancing Haier's overall profitability [3][21] - Emerging markets, particularly India and Southeast Asia, are crucial for Haier's growth despite infrastructure challenges [19][20] Key Strategies - Haier employs a dual strategy of brand creation (e.g., Casarte) and brand acquisition to build a diversified brand matrix [2][5] - The "shock fish" strategy involves acquiring underperforming companies to integrate their capacity into Haier's operations [5][6] - To mitigate tariff risks, Haier has localized production and developed high-end product lines to reduce reliance on imports [7][24] Financial Performance and Growth - GEA holds a 25% market share in the U.S., but growth has plateaued [13] - Haier's air conditioning business has improved profitability through supply chain reforms and product innovation since 2021 [12] - High-end products priced above 8,000 yuan are seeing increased retail volume, indicating a shift towards premium offerings [12] Challenges and Risks - In Europe, Haier faces challenges due to local inflation and industrial decline, impacting profitability from acquired capacities [18] - The cyclical nature of the U.S. appliance market, influenced by new and existing home sales, poses risks to revenue stability [16] Investment Recommendations - Current low valuation of Haier's Hong Kong stock, at less than 11 times earnings, makes it a recommended investment, especially with potential U.S. market recovery [3][21] - The company is expected to maintain a strong return on equity (ROE) and has a robust dividend policy to support valuation stability [23] Additional Insights - Haier's new product categories, such as water heaters and HVAC systems, currently account for 10-15% of revenue but are expected to grow [15] - The company is actively exploring overseas expansion of its high-end brands, with Casarte already entering markets like Thailand and Europe [11]

智通财经APP讯，海尔智家(06690)发布公告，于2025年8月5日斥资125万元(人民币，下同)回购A股股份 5万股，每股回购价格为25元。 ...

Group 1 - The company Haier Smart Home (06690.HK) announced a share buyback on August 5, spending 1.25 million yuan to repurchase 50,000 A-shares [1]