青岛市崂山区香港东路 195 号 3 号楼 青岛上实中心 1401、1402、1403 单元 邮编：266071 电话：（86-532）6869-5000 北京市君合（青岛）律师事务所 关于海信视像科技股份有限公司 2024 年年度股东大会的法律意见书 致：海信视像科技股份有限公司 北京市君合（青岛）律师事务所（以下简称"本所"）受海信视像科技股份 有限公司（以下简称"贵公司"）的委托，根据《中华人民共和国公司法》（以下 简称"《公司法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）等法 律、法规、规章及《海信视像科技股份有限公司章程》（以下简称"《公司章程》"） 的有关规定，就贵公司 2024 年年度股东大会（以下简称"本次股东大会"）有关 事宜出具本法律意见书。 为出具本法律意见书，本所审查了贵公司提供的有关文件及其复印件，核对 了其中相关文件的原件，并取得贵公司向本所作出的如下保证：贵公司已向本所 提供了出具本法律意见书所必须的、真实、完整的原始书面材料、副本材料、复 印件或口头证言，不存在任何遗漏或隐瞒；其所提供的副本材料或复印件与正本 材料或原件完全一致，各文件的原件的效力在其有效期内均 ...

Group 1 - The core point of the announcement is the approval of the unlocking conditions for the first lock-up period of the 2024 employee stock ownership plan, which will expire on June 27, 2025, with a total of 9,860,272 shares eligible for unlocking [1][2] - The meeting was held on June 25, 2025, via communication, with all three supervisors present, and the resolutions made were in compliance with relevant laws and regulations [1] - The voting results for the proposal were 2 votes in favor, 0 votes against, and 0 abstentions, with supervisor Chen Caixia abstaining from the vote [1] Group 2 - The proposal does not require submission to the company's shareholders' meeting for approval [2] - Further details regarding the employee stock ownership plan and the unlocking conditions are available on the Shanghai Stock Exchange website [2]

Core Viewpoint - The announcement details the upcoming expiration of the first lock-up period for Hisense Visual Technology Co., Ltd.'s 2024 employee stock ownership plan, confirming that the conditions for unlocking shares have been met [1][10]. Summary by Sections Employee Stock Ownership Plan Approval and Implementation - The employee stock ownership plan was approved on March 11, 2024, allowing for the acquisition of up to 29.0938 million shares, representing 2.23% of the company's total share capital [1][2]. - The first temporary stock transfer was completed on May 8, 2024, with 11,596,000 shares transferred to the plan's account [2]. - By June 27, 2024, a total of 26,684,081 shares had been transferred, accounting for 2.04% of the total share capital [2]. Unlocking Conditions and Performance Assessment - The first lock-up period will end on June 27, 2025, with 9,860,272 shares eligible for unlocking based on performance assessments [3][10]. - The plan's duration is 48 months, with shares unlocking in three phases based on performance metrics [4][5]. - The company's net profit for the 2024 fiscal year was reported at approximately 2.365 billion yuan, a 39% increase from 2022, meeting the performance target for the first lock-up period [6]. Individual Performance Evaluation - Individual performance assessments determine the unlocking ratio, with 374 participants achieving performance grades of S/A/B, allowing for a 100% unlocking ratio [8]. - Participants with a grade of C will have a 70% unlocking ratio, while those with a grade of D will not unlock any shares [7][8]. Post-Lock-Up Period Arrangements - After the first lock-up period, the management committee will either sell the unlocked shares or transfer them to individual accounts for personal management [9]. - The plan will adhere to market trading rules and relevant regulations from the China Securities Regulatory Commission and the Shanghai Stock Exchange [9]. Board and Supervisory Committee Approval - The board and supervisory committee approved the unlocking conditions and performance results on June 25, 2025, confirming compliance with the plan's regulations [10][21].

证券代码：600060 证券简称：海信视像 公告编号： 2025-026 海信视像科技股份有限公司 关于2024年员工持股计划第一个锁定期即将届满 暨解锁条件成就的公告 二、关于本员工持股计划第一个锁定期解锁条件成就的说明 根据公司《2024 年员工持股计划》和《2024 年员工持股计划管理办法》相 关规定，本员工持股计划的存续期为 48 个月，所获标的股票分三期解锁，锁定 期分别为 12 个月、24 个月、36 个月，均自本员工持股计划草案经公司股东大会 审议通过且公司公告最后一笔标的股票过户至本员工持股计划名下之日起计算； 其中，第一个锁定期自本员工持股计划草案经公司股东大会审议通过且公司公告 最后一笔标的股票过户至本员工持股计划名下之日起的 12 个月后届满，届满后 可解锁股份数量为本员工持股计划所持标的股票总数的 40%。 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。 海信视像科技股份有限公司（以下简称"公司"）于 2025 年 6 月 25 日召开第 十届董事会第十四次会议和第十届监事会第十一次会议，审议通过了《关 ...

第十届监事会第十一次会议决议公告 证券代码：600060 证券简称：海信视像 公告编号：2025-025 海信视像科技股份有限公司 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。 一、监事会会议召开情况 海信视像科技股份有限公司（以下简称"公司"）第十届监事会第十一次会 议（以下简称"会议"或"本次会议"）于2025年6月25日以通讯方式召开。本 次会议由监事会主席陈彩霞女士召集并主持，应出席监事3人，实际出席监事3 人。本次会议的召集和召开符合《中华人民共和国公司法》《海信视像科技股份 有限公司章程》等法律法规及相关文件的规定，形成的决议合法有效。 本次会议审议通过了《关于公司 2024 年员工持股计划第一个锁定期即将届 满暨解锁条件成就的议案》。 同意公司对 2024 年员工持股计划各持有人的绩效考核结果，公司 2024 年 员工持股计划第一个锁定期将于 2025 年 6 月 27 日届满，第一个锁定期的解锁 条件已经成就，符合解锁条件的股份数量为 9,860,272 股，该等事项符合公司 《2024 年员工持股计划》及《 ...

第十届董事会第十四次会议决议公告 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。 一、董事会会议召开情况 海信视像科技股份有限公司（以下简称"公司"）第十届董事会第十四次会 议（以下简称"会议"或"本次会议"）于2025年6月25日以通讯方式召开。本 次会议由董事长于芝涛先生召集并主持，应出席董事8人，实际出席董事8人。 会议的召集和召开符合《中华人民共和国公司法》《海信视像科技股份有限公司 章程》等法律法规及相关文件的规定，形成的决议合法有效。 二、董事会会议审议情况 本次会议审议通过了《关于公司 2024 年员工持股计划第一个锁定期即将届 满暨解锁条件成就的议案》。 证券代码：600060 证券简称：海信视像 公告编号： 2025-024 海信视像科技股份有限公司 本议案无需提交公司股东大会审议。 具体内容详见公司于本公告同日在上海证券交易所网站（www.sse.com.cn） 披露的《关于 2024 年员工持股计划第一个锁定期即将届满暨解锁条件成就的公 1 / 2 告》（公告编号：2025-026）。 特此公告。 海信视 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [3][6]. Core Insights - The company demonstrated strong performance during the 618 shopping festival, achieving a market share of 24% in sales volume and 29% in sales revenue, solidifying its leading position in the Chinese television market [10]. - The FIFA World Cup is expected to enhance mid-term growth through "technical cooperation and scene ecology," which will boost brand recognition and sales in both mature and emerging markets [10]. Financial Forecast and Investment Recommendations - The earnings per share (EPS) forecasts for 2025-2027 are adjusted to 1.95, 2.23, and 2.53 yuan respectively, with a target price of 29.25 yuan based on a 15x price-to-earnings ratio for 2025 [3][11]. - Projected revenue for 2025 is 64.33 billion yuan, with a year-on-year growth of 9.9% [5]. - The company is expected to achieve a net profit of 2.54 billion yuan in 2025, reflecting a 13.3% year-on-year increase [5]. Key Financial Metrics - Revenue growth rates are projected at 17.2% for 2023, 9.2% for 2024, and 9.9% for 2025 [5]. - The gross margin is expected to stabilize around 15.9% in 2025, with a net margin of 4.0% [5]. - The return on equity (ROE) is forecasted to increase from 11.5% in 2023 to 12.2% in 2025 [5]. Market Position and Competitive Advantage - The company leads in high-end technology, with a 30% sales volume and 32% sales revenue market share in MiniLED televisions [10]. - The company has a 42% sales volume and 49.6% sales revenue share in the 100-inch large screen market, reinforcing its competitive edge [10].

Investment Rating - The industry investment rating is maintained as "Positive" [4] Core Viewpoints - Domestic appliance sales are expected to benefit from policy support, with the air conditioning peak season anticipated to see high temperatures and low inventory, making second-quarter demand promising [2] - The national subsidy policy is confirmed to continue, with a total of 300 billion yuan allocated for supporting the replacement of old appliances, ensuring sustained demand [6] - The market is witnessing a shift towards new consumption trends, with brands actively targeting younger demographics and innovating product offerings to capture new growth opportunities [6] Summary by Sections Investment Recommendations and Targets - Focus on quality white goods leaders benefiting from domestic policy continuation and overseas expansion, such as Midea Group (000333, not rated), Haier Smart Home (600690, Buy), and Hisense Home Appliances (000921, not rated) [2] - Attention to companies with potential in mature overseas markets and short-term supply chain advantages, including Hisense Visual (600060, Overweight) and Ousheng Electric (301187, Buy) [2] - Highlighting small appliance companies that may benefit from national subsidies and long-term demand for new appliance categories, such as Roborock Technology (688169, Buy) and Bear Electric (002959, Overweight) [2] - Monitoring kitchen appliance companies that are adjusting strategies and may expand overseas, including Boss Electric (002508, Buy) and Vatti Corporation (002035, not rated) [2] Market Dynamics - Recent retail data shows significant year-on-year growth in online sales for major appliance categories, indicating resilience in demand despite concerns over subsidy reductions [6] - The market is adapting to new consumer preferences, with brands leveraging innovative marketing strategies to engage younger consumers and explore new product categories [6]

为什么家电家居打新 呈现出非常明显的两极分化？ 2024年，海信曾推出了一款高端电视产品。这款产品被寄予厚望，但实际的销量并没有达到预期。 面对落差，海信内部多次开会复盘。一次会议上，海信视像营销副总经理孙建勋指出了一个尖锐问题：如果卖点展示不能精准解决用户痛点，即使参数再 高，也没有用。 特别是电商平台的新品销售，过去那种习以为常的展示参数策略，如今失效了。会议现场众人面面相觑，很多人还停留在旧经验中。 在复盘了去年高端新品的问题之后，海信重振旗鼓，今年推出又一款高端电视新品E8Q。这款产品创造了海信高端产品首发的纪录，在京东上线28小时就成 为百吋销售TOP1。客单价1万以上的高端电视，一天就实现1400台销售——这个全新的销售纪录远远超出了孙建勋的预期。 同一个品牌的两款新品，销售表现为何相去甚远？ 这是家电家居行业经历迷茫期的一个缩影。最近几年，智能化浪潮给家电家居行业带来的增长红利逐渐消退，很 多 家电家居 品牌在 新品销售上有些心有余 而力不足。 今年，沉寂已久的家电家居行业出现了久违的热闹，各个品牌都在推新品，但局面却是冰火两重天。一些品牌虽然推出了新品，整体表现并不尽如人意，甚 至让整个品牌陷 ...

Core Viewpoint - The article emphasizes the transformation of the global display industry, highlighting Hisense's significant market presence and technological advancements, particularly in the context of major sporting events like the 2025 Club World Cup [1][2]. Group 1: Market Growth and Trends - In 2024, the global TV market is projected to reach 208 million units, with a year-on-year growth of 3.48%, driven by major sporting events [1]. - Hisense's market share in the global display sector has surpassed 30%, with the company maintaining a strong position in the 100-inch TV segment, accounting for one in every two units shipped [1][4]. - The company attributes its growth to technological differentiation, large-screen and high-end product development, and a focus on smart and green technologies [4][5]. Group 2: Consumer Behavior and Market Dynamics - Hisense challenges the notion that television is becoming obsolete, citing a 56% increase in sales of a co-branded product and a 400% surge in shipments of 100-inch TVs [2][7]. - The company asserts that consumer viewing habits have evolved, with a preference for larger screens that enhance immersive experiences [6][7]. - The display industry is entering a phase of stock competition, where the focus has shifted from technical specifications to user scenarios and ecosystem value [2][6]. Group 3: Technological Innovations - Hisense has introduced the world's first RGB-Mini LED TV, which addresses challenges in color and brightness control, showcasing its commitment to R&D [4][22]. - The company is actively exploring applications for laser display technology in various environments, including automotive and healthcare, emphasizing energy efficiency and high-quality displays [9][10][12]. - Hisense has filed 2,806 patents related to laser display technology, positioning itself as a leader in the field [22][23]. Group 4: Future Outlook and Strategic Vision - The company envisions future TVs to be larger, smarter, and more versatile, with capabilities to meet diverse user needs beyond traditional viewing [19][20]. - Hisense is committed to green manufacturing, with a goal of achieving 100% renewable energy usage in its zero-carbon factory [24][26]. - The company aims to leverage its technological advancements and market strategies to close the gap with global competitors and ultimately become the market leader [27].