Group 1 - The core viewpoint of the articles highlights Hisense's innovative refrigerator, which will be showcased at the 2026 CES as the official refrigerator for the 2026 World Cup, emphasizing AI interaction and full-scene connectivity [1][3] - Hisense's smart screen refrigerator is a key part of its World Cup co-branded series, aligning with CES's theme of "AI empowering consumer electronics" [3] - The refrigerator features advanced technologies such as vacuum preservation, AI control, and automatic ice-making, with the vacuum preservation technology evolving from version 1.0 to 4.0, utilizing a unique vacuum magnetic field preservation method [4] Group 2 - Hisense's vacuum preservation technology effectively inhibits food oxidation and bacterial growth, maintaining food freshness for up to 7 days [4] - The AI control system customizes storage environments for over 800 types of ingredients by adjusting temperature and vacuum levels [4] - Hisense refrigerators have achieved significant sales success in international markets, ranking first in sales in Canada, France, and Mexico, and maintaining top positions in Eastern European countries [5]

Group 1 - The 2026 CES in Las Vegas will showcase Hisense's upgraded RGB-Mini LED TVs, reinforcing its position as a pioneer and leader in this technology [1] - Hisense's RGB-Mini LED technology has led to a significant shift in the global industry landscape, prompting major competitors to follow suit [3] - Hisense holds over 90% market share in the high-end RGB-Mini LED TV segment, which has become the preferred choice for high-end users [3] Group 2 - At CES 2026, Hisense will present the evolution of its RGB-Mini LED TVs, supported by self-developed image quality chips and core technologies [5] - The event marks a critical turning point for AI in consumer electronics, transitioning from concept to practical application [5] - As an official sponsor of the 2026 World Cup, Hisense will showcase customized appliances that integrate AI and smart hardware, enhancing the viewing experience for global consumers [5]

Market Performance - The black home appliance sector increased by 2.2% on January 5, with Skyworth Digital leading the gains [1] - The Shanghai Composite Index closed at 4023.42, up 1.38%, while the Shenzhen Component Index closed at 13828.63, up 2.24% [1] Stock Performance - Skyworth Digital (000810) closed at 12.64, up 7.30% with a trading volume of 408,900 shares and a transaction value of 507 million yuan [1] - Other notable performers include: - ST Gauss (002848) at 9.43, up 5.01% [1] - Sichuan Changhong (600839) at 9.43, up 3.63% [1] - Cheny Intelligent (301578) at 34.73, up 2.81% [1] - XGIMI Technology (688696) at 114.54, up 2.74% [1] Capital Flow - The black home appliance sector saw a net inflow of 194 million yuan from institutional investors, while retail investors experienced a net outflow of 85.39 million yuan [1] - Detailed capital flow for key stocks includes: - Sichuan Changhong had a net inflow of 18.9 million yuan from institutional investors [2] - Skyworth Digital had a net inflow of 54.21 million yuan from institutional investors [2] - XGIMI Technology had a net inflow of 4.95 million yuan from institutional investors [2]

Group 1 - The 2026 CES will take place in Las Vegas, showcasing Hisense refrigerators as the official global sponsor for the World Cup, highlighting AI smart interaction and full-scene connectivity [1] - Hisense's smart screen refrigerator is a key part of its World Cup co-branded series, aligning with CES's core trend of "AI empowering consumer electronics" [3] - The refrigerator features a self-developed AI system that offers personalized recipe recommendations, making it user-friendly for novice cooks [3] Group 2 - Hisense focuses on user-centered design, emphasizing technologies like vacuum preservation, AI control, and automatic ice-making [3] - The vacuum preservation technology has evolved from version 1.0 to 4.0, with the vacuum magnetic preservation technology gaining wide user recognition [3] - The AI control system analyzes the storage needs of over 800 food ingredients, optimizing temperature and vacuum levels for customized preservation [3] Group 3 - The automatic ice-making function can produce ice in 60 minutes, featuring high antibacterial rates and a one-button smart cleaning function [3] - Hisense's participation in CES with AI technology and innovative products demonstrates its technical strength and deepens its global strategy, appealing to more overseas consumers [3]

Core Viewpoint - Hisense is set to showcase advancements in RGB-Mini LED technology at CES 2026, reinforcing its position as a leader and innovator in the high-end display market [1][3]. Group 1: Technology Advancements - Hisense will unveil an upgraded RGB-Mini LED television at CES 2026, aiming to maintain its competitive edge over Japanese and Korean brands in high-end display technology [1]. - The company made a significant leap in display technology by introducing the RGB-Mini LED television at CES 2025, transitioning from single "light control" to "light and color control" [3]. - The latest developments in RGB-Mini LED technology are expected to be a major highlight at CES 2026, showcasing Hisense's commitment to innovation [3]. Group 2: Market Position - Hisense holds over 90% market share in the RGB-Mini LED television segment, establishing itself as the leading brand in this category [3]. - The company has launched a diverse product lineup, including ultra-flagship UX, imaging flagship U7S Pro, and gaming flagship E8S series, catering to various consumer price segments from 10,000 to 100,000 yuan [3]. Group 3: Industry Trends - CES 2026 is anticipated to mark a pivotal shift for AI in consumer electronics, moving from "conceptual showcase" to "practical application" [5]. - As the official sponsor of the 2026 World Cup, Hisense plans to present customized home appliances that integrate AI and smart hardware, enhancing the viewing experience for global consumers [5].

Core Viewpoint - The article highlights the exceptional gaming experience provided by the Hisense 100-inch E8S Pro television, emphasizing its immersive features and advanced technology that enhance gameplay enjoyment and visual quality [1][10]. Group 1: Immersive Gaming Experience - The 100-inch screen size significantly enhances the gaming experience by providing a broader field of view, allowing players to focus on gameplay without distractions [2]. - The television's large display facilitates group gaming sessions, creating a more interactive atmosphere among players [2]. Group 2: High Refresh Rate and Low Latency - The Hisense 100-inch E8S Pro features a native 4K 170Hz refresh rate, which can be upgraded to a variable refresh rate of 330Hz, offering more than double the frame information compared to standard 120Hz TVs [3][5]. - The ultra-low latency of 4.9ms and multiple HDMI 2.1 ports ensure seamless connectivity and real-time response during gameplay, enhancing the overall user experience [5]. Group 3: Superior Picture Quality - The television utilizes RGB-Mini LED technology, which prevents color distortion and achieves 100% BT.2020 ultra-wide color gamut, accurately reproducing over 97% of the visible spectrum [6][8]. - The AI picture quality chip H7 optimizes game scenes in real-time, enhancing dark details in shadowy areas while maintaining the overall atmosphere of the visuals [8]. Group 4: Emotional Connection and Value - The Hisense 100-inch E8S Pro is described as a "joy carrier," providing emotional relief and serving as a reward for hard work, making it a worthwhile investment for consumers seeking quality entertainment [10].

Group 1 - The CES 2026 will take place from January 6 to January 9, focusing on AI as it transitions into practical applications, marking the year as the beginning of AI technology integration and industrialization [2][9] - A total of 4,112 companies will participate in CES 2026, with major players like AMD, Lenovo, Hisense, and TCL showcasing innovations across various sectors, including chips, hardware, and vertical applications [2][3] - The event will highlight the integration of AI in various industries, including automotive and supply chains, demonstrating deep connections and applications across the entire industry chain [2][6] Group 2 - NVIDIA's CEO Jensen Huang will not deliver a keynote this year but will participate in discussions about AI's impact on consumer electronics and infrastructure [3][7] - AMD is expected to unveil its next-generation mobile processor, the Ryzen AI 400 series, featuring 12 Zen 5 cores and enhanced NPU capabilities [6][4] - Siemens' CEO will present advancements in industrial AI, showcasing how AI, digital twins, and automation are transforming manufacturing and infrastructure [6][9] Group 3 - The home appliance sector will see significant AI integration, with major companies like Hisense and TCL leading the charge in redefining the future of home electronics [10][11] - Hisense will introduce the world's first display technology upgraded to a "four-core architecture," along with a humanoid robot capable of multi-language interaction [10][11] - The cleaning appliance market, particularly robotic vacuums, is dominated by Chinese brands, while iRobot faces bankruptcy, highlighting a shift in market leadership [13][19] Group 4 - The CES 2026 will feature a strong presence of embodied intelligence products, with over 50% of exhibitors being Chinese companies, showcasing advancements in humanoid robots and smart assistants [20][22] - New AI-native devices, including AI glasses and AI headphones, will be introduced, indicating a shift towards AI as the next generation of consumer electronics [24][26] - The event will also host discussions on the future of technology, including topics like AI's role in industrial transformation and the commercialization of embodied intelligence [30][28]

Group 1: CES 2026 Overview - CES 2026 will take place from January 6 to January 9, 2026, in Las Vegas, showcasing the latest innovations in technology and serving as a window to predict future trends in the tech industry [2] - A total of 4,112 companies will participate, with China and the US being the main players, despite Apple's absence [2] - The central theme of CES 2026 will revolve around AI, transitioning into the stage of practical applications and integration across various industries, including consumer electronics and automotive sectors [2] Group 2: Key Company Highlights - Nvidia, AMD, and Intel are expected to showcase significant advancements in AI technology, with AMD's stock having risen over 75% in the past year [5] - AMD will unveil its next-generation mobile processor, the Ryzen AI 400 series, featuring 12 Zen 5 cores and enhanced NPU capabilities [5] - Intel will introduce the third-generation Core Ultra series processors, boasting a 50% performance improvement over the previous generation [5] Group 3: AI Integration in Consumer Electronics - AI is increasingly embedded in consumer electronics, with major home appliance companies demonstrating deep applications of AI to enhance product efficiency [9] - Hisense will launch the world's first upgraded display technology featuring a "four-core architecture" and AI image processing capabilities [9] - TCL will present a wide range of display products, including the world's first printed OLED screen for automotive displays [10] Group 4: Robotics and Smart Home Innovations - The robotics sector is seeing a surge in companies showcasing products capable of complex tasks, with a significant presence from Chinese firms at CES 2026 [19] - New products include flying vacuum cleaners and stair-climbing robots, indicating advancements in smart home technology [14][16] - Companies like Ecovacs and Roborock are expected to unveil new models in the cleaning appliance category, with Ecovacs CEO scheduled to give a keynote speech [12] Group 5: AI-Driven New Devices - CES 2026 will feature a variety of AI-native devices, including AI glasses and headphones, with numerous companies participating in this emerging market [23] - XREAL will showcase its latest AI glasses, while other firms will present innovative AR products [25] - Lightwear AI, a new wearable device, will be introduced, aiming to redefine human-computer interaction in the AI era [26] Group 6: Industry Discussions and Networking - TiMedia will host multiple roundtable discussions on topics such as AI's impact on industries and the commercialization of embodied intelligence [31] - A high-end networking event, "China Innovation Night," will take place, bringing together leaders from global tech brands and AI ecosystems [31] - The event will also feature the release of the "2026 CES Innovation List," recognizing outstanding achievements in technology and design [31]

Investment Rating - The report maintains an "Outperform" rating for the home appliance industry, specifically focusing on the Mini LED segment [2]. Core Insights - The Mini LED technology is positioned as a core driver of transformation in the black electrical appliance sector, with significant advancements in display technology and market penetration expected [16][17]. - The report highlights a shift in consumer preferences towards larger screen sizes and superior picture quality, which Mini LED technology addresses effectively [21][34]. - The competitive landscape is evolving, with domestic brands leveraging cost advantages and government subsidies to enhance market share both locally and internationally [6][49]. Summary by Sections 1. Mini LED as the Core Driver of Black Electrical Transformation - Mini LED technology represents the third generation of display technology, competing with OLED and other emerging technologies [18]. - The performance of Mini LED displays, particularly in brightness and longevity, positions it favorably against OLED, which excels in flexibility and contrast [21][22]. - The global sales of Mini LED TVs are projected to surpass those of OLED TVs for the first time in 2024, with a significant increase in market penetration expected [22][24]. 2. Building High Barriers in the Mini LED Supply Chain - The report discusses the optimization of the Mini LED backlight industry and the advantages of high-generation panel layouts, which strengthen the competitive position of domestic manufacturers [2.1][2.2]. - The cost of 65-inch Mini LED backlight modules is expected to decrease significantly from $150 in 2023 to a range of $80-100 by 2025, enhancing profitability for domestic suppliers [2.3]. - The report emphasizes the importance of the supply chain's evolution, with key players like 聚飞光电 and 京东方 showing strong revenue growth and margin improvements [2.4][54]. 3. Domestic Brands Expanding Internationally with Mini LED - Chinese brands are strategically entering high-value markets in the U.S. and Europe, capitalizing on the mismatch in supply and demand for high-end televisions [3.1][3.2]. - The report notes that the average size of televisions in China is expected to exceed the global average by 11.3 inches by 2025, indicating a strong trend towards larger displays [5]. - The competitive dynamics are shifting, with Chinese brands like TCL and Hisense aggressively expanding their presence in emerging markets while traditional Korean brands adopt a more conservative approach [5][6]. 4. Market Dynamics and Consumer Preferences - The report identifies a significant shift in consumer purchasing criteria, with an increasing focus on picture quality and size rather than just price [41]. - The penetration of Mini LED technology is driven by a cycle of price reduction and increased demand, which is expected to continue as production costs decrease [46][49]. - The sales data from 京东 indicates a substantial increase in the market share of Mini LED TVs, reflecting the successful implementation of competitive pricing strategies by brands like 小米 [46][49].

Core Insights - The living room is regaining its central role in home entertainment, with a shift towards larger screens for high-quality viewing experiences [1] - The 100-inch screen size is identified as a critical threshold, transforming the display into an "environment" rather than just a device [1] Technology and Innovation - Hisense has integrated advanced technology into its 100-inch E7Q television, featuring the AI-powered H6 chip that enhances picture quality through computational capabilities [2][4] - The AI chip allows for a significant increase in light control precision, achieving 16 times better control and dividing brightness levels into 16.77 million segments [4] Visual Performance - The E7Q television addresses common issues with large screens, such as glare and insufficient black levels, through its Black Crystal Pro screen, which has a reflectivity of only 1.8% [5] - The television boasts a peak brightness of 7000 nits and utilizes 4224 backlight zones for precise light control, enhancing the viewing experience in various lighting conditions [7] Audio Experience - The E7Q features a 2.1.2 sound system, tuned in collaboration with Devialet, providing immersive audio that complements the visual experience [8] Lifestyle and Market Positioning - Hisense positions the E7Q not just as a television but as a representation of a "no-compromise" lifestyle, aiming to bring the IMAX experience into homes [10]