海信视像科技股份有限公司 2024 年年度股东大会会议资料 二〇二五年六月 | | | | | | 海信视像科技股份有限公司 2024 年年度股东大会会议资料 海信视像科技股份有限公司 2024 年年度股东大会会议须知 为了维护全体股东的合法权利，确保股东大会的正常秩序和议事效率，保 证大会的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》《上市公司股东会规则》以及《海信视像科技股份有 限公司章程》（以下简称"《公司章程》"）等相关规定，海信视像科技股份有限 公司（以下简称"公司"），特制定 2024 年年度股东大会会议须知如下： 一、为保证股东大会的严肃性和正常秩序，切实维护与会股东及股东代理 人的合法权益，除出席会议的股东及股东代理人、公司董事、监事、高级管理 人员、见证律师及董事会邀请的人员外，公司有权依法拒绝其他无关人员进入 会场。 二 、出 席 会议 的股 东 及股 东 代理 人 须在现 场 会 议召 开前 半小 时 内 （13:30-14:00）到会议现场办理签到手续，并请按规定出示证券账户卡、身份证 明文件或法人单位证明、授权委托书等文件，经验证后领取 ...

海信视像科技股份有限公司 二〇二五年六月 海信视像科技股份有限公司 2024 年年度股 东大会会议资料 目 录 海信视像科技股份有限公司 2024 年年度股东大会会议资料 海信视像科技股份有限公司 为了维护全体股东的合法权利，确保股东大会的正常秩序和议事效率，保 证大会的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》《上市公司股东会规则》以及《海信视像科技股份有 限公司章程》（以下简称"《公司章程》"）等相关规定，海信视像科技股份有限 公司（以下简称"公司"），特制定 2024 年年度股东大会会议须知如下： 一、为保证股东大会的严肃性和正常秩序，切实维护与会股东及股东代理 人的合法权益，除出席会议的股东及股东代理人、公司董事、监事、高级管理 人员、见证律师及董事会邀请的人员外，公司有权依法拒绝其他无关人员进入 会场。 二、出席会议的股东及股东代理人须在现场会议召开前半小时内 （13:30-14:00）到会议现场办理签到手续，并请按规定出示证券账户卡、身份证 明文件或法人单位证明、授权委托书等文件，经验证后领取会议资料，方可出 席会议。会议开始后，由会议主持人宣布现 ...

海信视像科技股份有限公司 2024 年年度股东大会会议资料 二〇二五年六月 | | | | | | 海信视像科技股份有限公司 2024 年年度股东大会会议资料 海信视像科技股份有限公司 2024 年年度股东大会会议须知 为了维护全体股东的合法权利，确保股东大会的正常秩序和议事效率，保 证大会的顺利进行，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》《上市公司股东会规则》以及《海信视像科技股份有 限公司章程》（以下简称"《公司章程》"）等相关规定，海信视像科技股份有限 公司（以下简称"公司"），特制定 2024 年年度股东大会会议须知如下： 一、为保证股东大会的严肃性和正常秩序，切实维护与会股东及股东代理 人的合法权益，除出席会议的股东及股东代理人、公司董事、监事、高级管理 人员、见证律师及董事会邀请的人员外，公司有权依法拒绝其他无关人员进入 会场。 二 、出 席 会议 的股 东 及股 东 代理 人 须在现 场 会 议召 开前 半小 时 内 （13:30-14:00）到会议现场办理签到手续，并请按规定出示证券账户卡、身份证 明文件或法人单位证明、授权委托书等文件，经验证后领取 ...

Core Viewpoint - Hisense washing machines have pioneered the open sharing of core patent technologies in the industry, announcing the opening of 66 patents related to the three-tub washing machine to build a "technology sharing ecosystem" for better consumer experiences [1][3]. Group 1: Product Innovation - The newly launched "Cotton Candy Ultra Family Tub" series addresses installation space limitations and improves drying efficiency, optimizing stability and noise performance of multi-tub combinations [2]. - The flagship version is the world's first 4-in-1 heat pump washing and drying machine, featuring an integrated Zeus system that allows independent drying of all three tubs [2]. - The modular design of the flagship version supports various installation scenarios, allowing for stacking, separation, and embedded installation, thus blending seamlessly with home decor [2]. Group 2: Market Positioning - The Cotton Candy Ultra Family Tub series includes different versions to meet diverse consumer needs, such as the Light Enjoy version for pet owners with a 90% hair removal rate and the Youth version tailored for younger consumers with a focus on cost-effectiveness [3]. - Hisense washing machines aim to shift the industry from a "zero-sum competition" model to an ecosystem co-construction approach, encouraging collaborative innovation in the partitioned washing sector [3]. Group 3: Industry Impact - By opening up the three-tub core patent technology, Hisense washing machines challenge traditional technical barriers and promote a collaborative innovation model that can lead to the development of more disruptive products in the industry [3]. - The initiative is expected to enhance the overall quality of the washing machine industry, allowing more users to experience the benefits of partitioned washing technology [3].

Investment Rating - The report maintains a "Positive" investment rating for the home appliance industry, specifically recommending "Buy" for Hisense Visual and TCL Electronics [9]. Core Insights - The report highlights the impact of display technology iterations on the black electrical landscape and profitability, emphasizing that Chinese companies are well-positioned to enhance their profitability and global market share during the current Mini LED technology upgrade [3][6][7]. Summary by Sections Previous Display Technology Changes - The evolution of black electrical display technology is summarized as "CRT → Rear Projection → PDP → LCD (LED Backlight) → OLED → Mini/Micro-LED." Historically, Japanese companies dominated the global black electrical industry until the late 1990s, when Korean companies like Samsung and LG began to invest heavily in LCD technology, ultimately surpassing Japanese firms by 2006 [5][27][32]. Current Mini LED Upgrade Outlook - Mini LED is identified as the next major display technology, with global shipments expected to reach 6.2 million units in 2024, a 100% increase year-on-year, capturing 2.9% of the market share. In China, Mini LED TV sales are projected to reach 5.56 million units, accounting for 18.0% of the overall TV market [6][7]. Investment Recommendations - The report suggests capitalizing on structural upgrades and profitability improvements among leading black electrical companies. It notes that the ongoing shift of panel production capacity to China, combined with continuous investment in Mini LED technology by companies like TCL and Hisense, supports the sustainable enhancement of profitability and market share for Chinese black electrical enterprises [7][9].

Investment Rating - The report suggests a focus on the home appliance sector, indicating a strong certainty in domestic demand growth and potential for export growth in emerging markets [7][40]. Core Insights - The adjustment of national subsidy policies aims to optimize resource allocation and enhance fund efficiency, guiding the industry towards high-quality development [3][14]. - The subsidy model is shifting from a "universal" approach to "precise control," with a pilot "quota allocation" model in Jiangsu expected to become a national standard [3][16]. - The current funding disbursement mechanism may transition from a pre-allocation based on reimbursement ratios to a "total pre-allocation" system, improving cash flow for enterprises [3][16]. - Online supervision is being strengthened to reduce arbitrage opportunities, with regions like Guangdong and Shanghai tightening cross-regional subsidies [3][16]. - The price system is expected to stabilize, with leading brands likely to initiate structural price increases as subsidy limits are imposed, leading to a more rational competitive environment [3][17]. Market and Sector Tracking - The Shanghai and Shenzhen 300 Index increased by 0.88%, while the Shenwan Home Appliance Index decreased by 1.4% [4][18]. - Key stock performers included Springlight Technology (+28.64%), Beilingsong (+21.17%), and Hesheng New Materials (+15.81%), while Midea Group (-4.25%), Hisense Visual (-3.98%), and Boss Electric (-3.74%) saw declines [4][18]. - Raw material prices showed a mixed trend, with copper prices up by 1.45% and aluminum prices down by 0.80% during the week [21][23]. Real Estate Data Tracking - In April 2025, the cumulative area of new residential construction was 131,639.8 thousand square meters, down 22.6% year-on-year [5][32]. - The cumulative area of residential construction was 4,319,367.5 thousand square meters, down 10.1% year-on-year [5][32]. Investment Recommendations - The report recommends focusing on three main lines: 1) Capitalizing on domestic demand and subsidy policies, particularly in the white goods sector [7][40]. 2) Investing in the black goods sector, which continues to show structural upgrade logic [7][40]. 3) Targeting the cleaning appliance segment, which remains promising in terms of growth [7][40].

Core Viewpoint - The Chinese television market is experiencing a downturn, with a 2.1% year-on-year decline in May's shipment volume, despite the early start of the 618 shopping festival on May 13, 2025, which is the longest in history [1][3] Market Performance - In May, the total shipment volume of televisions in China was 2.83 million units, marking a continuous decline for two months [1] - Cumulative shipments from January to May reached 14.035 million units, showing a slight increase of 1.7% year-on-year, primarily supported by strong performance in the first quarter [1] Brand Analysis - The top eight television brands in May collectively shipped 2.7 million units, a slight decrease of 0.9% year-on-year, with market concentration rising to 95.4% [4] - TCL, Hisense, and Skyworth, the traditional top three brands, shipped a total of 1.66 million units, down 2.4%, holding a market share of 58.7% [4] - Xiaomi's shipments increased by 9.1% to 600,000 units, raising its market share to 21.2% [4] - Changhong, Haier, and Konka combined shipped 340,000 units, down 4.2%, with a market share of 12.0% [4] Market Trends - The cautious inventory preparation by brands for the 618 shopping festival has further suppressed shipment momentum [3] - The upcoming expiration of the home appliance replacement subsidy policy is expected to stimulate consumer purchases during the 618 period [4] - The market is undergoing a significant reshuffle, with oversupply, weak demand, and competition from substitutes leading to a "survival of the fittest" scenario [7] Competitive Landscape - Xiaomi's growth is attributed to its high cost-performance strategy and ecosystem synergy, making it a standout performer in a cooling market [5] - TCL is expected to maintain its leading position, having shipped nearly 2.6 million units from January to April, with a year-on-year growth of 20.2% [6] - Konka faces severe challenges, having dropped to eighth place and experiencing significant declines due to management changes affecting operational continuity [6]

证券代码：600060 证券简称：海信视像 公告编号：2025-023 海信视像科技股份有限公司 关于为子公司提供担保的进展公告 重要内容提示： 一、担保情况概述 2024 年 12 月 6 日，公司第十届董事会第八次会议审议通过《关于公司及子公 司 2025 年度担保额度预计的议案》，同意基于相关子公司经营发展需要及经营资 金需求，2025 年度，公司为 TVS REGZA 株式会社提供不超过 130 亿日元（含本 数）的担保，额度内可循环使用；公司控股子公司乾照光电为其全资子公司厦门 乾照光电科技有限公司、扬州乾照光电有限公司、江西乾照、江西乾照半导体科 技有限公司提供不超过 18 亿元人民币（含 18 亿元，不含项目贷）的担保，额度 内可循环使用。上述额度的有效期为 2025 年 1 月 1 日至 2025 年 12 月 31 日。2024 1 / 4 被担保人：江西乾照光电有限公司（以下简称"江西乾照"），为海信视像 科技股份有限公司（以下简称"公司"）控股子公司厦门乾照光电股份有 限公司（以下简称"乾照光电"）的全资子公司。 本次担保金额及实际担保余额：（1）本次乾照光电为江西乾照提供 1 项最 高 ...

证券代码：600060 证券简称：海信视像 公告编号：2025-022 海信视像科技股份有限公司 关于召开2024年年度股东大会的通知 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： 股东大会召开日期：2025年6月27日 网络投票系统：上海证券交易所股东大会网络投票系统 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 一、召开会议的基本情况 （一）股东大会类型和届次 2024年年度股东大会 （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 （四）现场会议召开的日期、时间和地点 召开的日期时间：2025 年 6 月 27 日 14 点 00 分 召开地点：山东省青岛市崂山区香港东路 88 号海信国际中心 A 座公司会议 室 （五）网络投票的系统、起止日期和投票时间。 网络投票起止时间：自2025 年 6 月 27 日 至2025 年 6 月 27 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当 ...

Core Viewpoint - The television market is experiencing a price war, particularly in the 32-inch segment, with prices dropping to around 500 yuan, but there are notable differences between online and offline sales channels [2][3][11]. Group 1: Market Trends - The online television market is expected to see significant growth during the 618 shopping festival, with sales projected to reach 5.44 billion yuan, a 22% increase year-on-year [3]. - The average price of televisions online is expected to rise to 3,664 yuan, a 14% increase, while offline prices are projected to be 7,194 yuan, up 7.5% [3]. - The 32-inch television segment is seeing intense competition, with many manufacturers launching models priced around 400-500 yuan [16][22]. Group 2: Price Dynamics - Several brands have introduced 32-inch televisions at low prices, such as Philips at 424 yuan and TCL at 509 yuan after subsidies [4][5]. - The price drop in the 32-inch segment is attributed to a combination of national subsidies and a focus on inventory clearance strategies by manufacturers [11][14]. - The cost structure of televisions shows that panel prices significantly influence retail prices, with panel costs accounting for 52% of total costs [12]. Group 3: Consumer Behavior - Offline consumers tend to prioritize picture quality and the ability to see the product in person, contrasting with online consumers who focus more on price [9][10]. - There is a growing trend towards larger televisions, with consumers increasingly opting for high-end products rather than just low-priced options [23][24]. Group 4: Company Performance - Companies like TCL and Hisense have reported revenue growth despite low profit margins, with TCL's revenue reaching 99.32 billion HKD, a 25.7% increase [19]. - Konka, however, has faced significant losses, with a revenue decline of 37.73% and a net loss of 3.296 billion yuan, attributed to intensified market competition [21]. - The overall profitability of television manufacturers remains low, with many operating at margins below 20% [17][18].