Financial Sector - The banking sector continued its upward trend in the afternoon session, contributing positively to the FTSE China A50 Index [1] - China Life Insurance, China Pacific Insurance, and China Ping An reported market capitalizations of 385.19 billion, 351.05 billion, and 989.18 billion respectively, with trading volumes of 1.155 billion, 2.698 billion, and 1.079 billion [4] Alcohol Industry - Kweichow Moutai, Shanxi Fenjiu, and Wuliangye had market capitalizations of 1,786.68 billion, 210.10 billion, and 459.08 billion respectively, with trading volumes of 3.192 billion, 6.060 billion, and 1.760 billion [4] - Kweichow Moutai's stock price decreased by 4.66 (-0.33%), while Wuliangye increased by 1.12 (+0.65%) [4] Semiconductor Industry - Northern Huachuang, Haiguang Information, and Cambricon Technologies had market capitalizations of 220.29 billion, 249.45 billion, and 321.57 billion respectively, with trading volumes of 1.075 billion, 2.756 billion, and 2.048 billion [4] - Northern Huachuang's stock price fell by 7.35 (-1.22%) [4] Automotive Industry - BYD, Great Wall Motors, and Shanghai-Kunming High-Speed Railway had market capitalizations of 1,892.53 billion, 183.68 billion, and 281.32 billion respectively, with trading volumes of 3.509 billion, 0.627 billion, and 0.348 billion [4] - BYD's stock price decreased by 1.57 (-0.45%) [4] Energy Sector - COSCO Shipping Holdings, Sinopec, and China National Petroleum Corporation had market capitalizations of 716.56 billion, 1,650.85 billion, and 249.69 billion respectively, with trading volumes of 1.159 billion, 1.722 billion, and 1.019 billion [4] - Sinopec's stock price increased by 0.03 (+0.33%) [4] Coal Industry - Shaanxi Coal and Chemical Industry, China Shenhua Energy, and CATL had market capitalizations of 191.77 billion, 1,124.60 billion, and 775.67 billion respectively, with trading volumes of 3.014 billion, 0.922 billion, and 0.608 billion [4] - Shaanxi Coal's stock price decreased by 0.22 (-0.56%) [4] Food and Beverage Sector - China National Nuclear Power, Dongfang Fortune, and Haitian Flavoring had market capitalizations of 745.30 billion, 193.55 billion, and 343.42 billion respectively, with trading volumes of 1.574 billion, 0.521 billion, and 5.827 billion [5] - China National Nuclear Power's stock price decreased by 0.16 (-0.52%) [5] Consumer Electronics - Heng Rui Medicine, Industrial Fulian, and Luxshare Precision had market capitalizations of 355.01 billion, 421.40 billion, and 231.31 billion respectively, with trading volumes of 2.645 billion, 3.052 billion, and 2.100 billion [5] - Heng Rui's stock price increased by 0.32 (+1.53%) [5] Logistics Industry - Mindray Medical, SF Holding, and Wanhua Chemical had market capitalizations of 169.95 billion, 248.64 billion, and 286.88 billion respectively, with trading volumes of 1.343 billion, 0.896 billion, and 1.030 billion [5] - Mindray's stock price increased by 0.81 (+1.65%) [5] Telecommunications - Zijin Mining, China State Construction, and China Unicom had market capitalizations of 500.19 billion, 236.77 billion, and 164.76 billion respectively, with trading volumes of 2.515 billion, 0.784 billion, and 0.731 billion [5] - Zijin Mining's stock price decreased by 0.33 (-1.72%) [5]

金十图示：2025年06月16日（周一）富时中国A50指数成分股午盘收盘行情一览：银行股普涨、汽车整车板块领跌 富时中国A50指数连续 保险 账 中国人保 中国太保 中国平安 081 3803.26亿市值 3472.94亿市值 9855.38亿市值 14.94亿成交额 5.15亿成交额 5.27亿成交额 54.12 36.10 8.60 +0.19(+0.53%) -0.36(-0.66%) +0.10(+1.18%) 酸酒行业 贵州茅台 五粮液 山西汾酒 17760.63亿市值 2099.19亿市值 4565.94亿市值 39.48亿成交额 10.73亿成交额 21.62亿成交额 117.63 1413.84 172.07 -13.11(-0.92%) -1.49(-1.25%) +0.97(+0.57%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2207.27亿市值 2517.14亿市值 3204.56亿市值 14.65亿成交额 7.50亿成交额 16.77亿成交额 413.21 602.97 137.87 -1.93(-0.32%) +2.65(+0.65%) +0.81(+0.59%) 汽 ...

中资品牌面临质价比突围与本土化挑战 目前，在东盟三国中呈现日资品牌、中资品牌和美资品牌三足鼎立态势。其中，大金在三国市场均展现 出强大的渠道管理能力，通过"价格管控+项目保护+客户分层"三大策略构建竞争壁垒。技术层面，大 金以VRF多联机为核心竞争力，通过本地化适配（如高温环境改造）和专利标准主导，维持产品溢价。 三菱重工则聚焦高端细分市场，在泰国和印尼的医院、政府项目中通过"参数锁标"（如定制风管长度） 排除竞品，工程直营占比60%，技术团队占员工总数85%，强化专业场景解决方案能力。 □ 本报记者 王 洋 记者注意到，上述东盟三国商用空调市场呈现出"市场处于快速成长期""轻商占比超过50%""零售和制 造业领域增速更快"和"渠道为王"四大特征。即，与家用空调规模相比，商用空调市场中位数为70%， 远超中国市场，显示出巨大的增长潜力；轻型商用空调在市场中占比超过50%，中资品牌的性价比优势 将得到释放，有望在这一细分市场中获得更多份额；零售行业和制造业的增速更快，为中资品牌带来了 更多的增长空间，特别是在这些行业的定制化需求方面；日资品牌在渠道建设方面占据先机，中资品牌 亟待深入开发，通过加强渠道建设和市场 ...

Group 1 - The State Intellectual Property Office of China has published a patent application by Qingdao Haier Air Conditioning Co., Ltd., Qingdao Haier Air Conditioning Electronics Co., Ltd., and Haier Smart Home Co., Ltd. for a "Temperature Control Method, Device, Equipment, Medium, and Program Product" [1] - The patent application, filed on February 2025, pertains to smart home technology, specifically a method for temperature control that detects environmental information such as air temperature, humidity, wind speed, and radiation temperature to determine user comfort temperature [1] - The method involves determining control parameters for multiple control loads based on environmental information and user-set target temperature, executing the method repeatedly until user comfort temperature equals the target temperature [1] Group 2 - Qingdao Haier Air Conditioning Co., Ltd. was established in 1996, located in Qingdao, with a registered capital of 9,363.8162532 million RMB, and has invested in 19 companies and participated in 3,043 bidding projects [2] - Qingdao Haier Air Conditioning Electronics Co., Ltd. was founded in 1999, also located in Qingdao, with a registered capital of 9,670.9088914 million RMB, having invested in 15 companies and participated in 4,235 bidding projects [2] - Haier Smart Home Co., Ltd. was established in 1994, located in Qingdao, with a registered capital of 94,381.14893 million RMB, having invested in 58 companies and participated in 1,658 bidding projects [2]

Core Viewpoint - The article discusses the 16th Investor Relations Management Forum held by the Securities Times, where the winners of the Tianma Awards for outstanding investor relations management were announced, highlighting the importance of effective communication between listed companies and their investors [1][2]. Group 1: Tianma Awards Overview - The Tianma Awards, organized by the Securities Times, focus on enhancing the investor relations management standards of listed companies and recognizing those that excel in this area [2]. - This year's awards included six categories: Best Investor Relations Management, Outstanding Secretary Award, Excellent Team Award, Shareholder Return Award, Innovative Practice Award, and Hong Kong Listed Company Investor Relations Management Award [2]. Group 2: Award Winners - A list of companies that received awards includes notable names such as BYD (002594), Mindray Medical (300760), and Yunnan Copper (000878) among others [3][4][5][6][8][10][12][18][19]. - The awards recognize both individual contributions, such as outstanding secretaries, and collective efforts from teams within these companies [8][18]. Group 3: Importance of Investor Relations - Effective investor relations are crucial for companies to showcase their investment value and maintain strong relationships with shareholders [2]. - The recognition of companies through awards like the Tianma Awards serves to encourage best practices in investor relations across the industry [2].

Group 1 - The core viewpoint of the article highlights Haier Smart Home's recognition as the "2025 ESG Model Enterprise" due to its comprehensive green development model and social value practices [1] - The company implements a "6-Green" strategy that covers the entire supply chain, transforming ESG concepts into tangible consumer experiences [3][4] - Haier Smart Home has established strict "green rules" for suppliers, prioritizing energy-efficient and environmentally friendly materials in procurement [3] Group 2 - In product design, Haier Smart Home has introduced energy-efficient appliances, such as the Mai Lang refrigerator, which consumes less than 1 kWh per day, and the Leader washing machine, which has become a top seller [4] - The company has built the largest home appliance recycling network in China, recovering nearly 8 million old appliances in 2024, and participates in recycling initiatives in Europe and the US [6] - Haier Smart Home's ESG practices extend to global social responsibility, including building over 400 Hope Schools in China and donating energy-efficient air conditioners in Thailand [6] Group 3 - The company promotes transparency in governance, with public executive compensation, traceable supply chain carbon emissions, and real-time updates on environmental data [6] - Haier Smart Home aims to make ESG principles a part of everyday life, continuing to innovate in sustainable development [6]

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) 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6月13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 。 FF305 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； (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）。 第一章節註釋： 若股份曾以超過一個每股價格發 ...

Investment Rating - The report maintains a "Positive" investment rating for the home appliance industry, indicating an expectation of returns exceeding the market benchmark by more than 5% [5]. Core Insights - Domestic home appliance sales are expected to benefit from policy support, with the air conditioning peak season anticipated to see high temperatures and low inventory, making the second quarter demand promising. Changes in national subsidy methods are expected to have limited disruption [3][8]. - The online retail performance in May was strong, with significant year-on-year growth in various categories, including a 31.7% increase in TV sales and a 46.0% increase in air conditioning sales [8]. - The report highlights the potential for emerging markets in exports, while concerns regarding exports to the U.S. due to global capacity layout are deemed manageable. The reshaping of the global supply chain presents new opportunities [3][8]. Summary by Sections Domestic Market Performance - In May, online retail sales for home appliances showed impressive growth, with air conditioning sales up 46.0% year-on-year and cumulative growth of 26.9% from January to May [8]. - The average price of air conditioning units decreased slightly by 0.7% in May, but the report predicts that price declines are nearing an end as the peak season approaches [8]. Policy and Subsidy Impact - The report discusses changes in national subsidy methods, suggesting that the new approach will likely alleviate price competition among mid-to-low-end brands. The expected shift to a dual-channel distribution for subsidies is anticipated to maintain consumer spending [8]. Investment Recommendations - The report recommends focusing on quality white goods leaders that benefit from domestic policy continuation and are actively expanding overseas, such as Midea Group and Haier Smart Home [3]. - It also suggests monitoring companies that are likely to benefit from the reshaping of market shares in mature overseas markets, such as Hisense Visual Technology and Ousheng Electric [3].

Group 1 - Haier launched the new brand Haier care at the 2025 Shanghai International Elderly Care, Aids, and Rehabilitation Medical Expo, focusing on the silver economy [1] - The introduction of Haier care is seen as a necessary choice for the company's development, aiming to become a leading global provider of smart elderly care solutions [1] - The aging population is creating challenges in traditional elderly care, such as staff shortages and resource misallocation, which AI technology can help address [1] Group 2 - Haier's brand vision is to create the leading elderly care brand in China, emphasizing continuous user interaction and product innovation [2] - The brand story video showcased real-life stories to illustrate the core concept of "C-A-R-E" [2] - Haier aims to be a significant force in advancing China's elderly care industry [2]

Core Viewpoint - Haier has launched its first smart blood pressure monitor, the M8, during the Shanghai Old Expo, marking a significant milestone in its home healthcare segment, which has achieved cumulative shipments of 5 million units [2] Group 1: Product Features and Innovations - The M8 blood pressure monitor features the Haier V-sense cardiovascular health monitoring system, which allows for early monitoring and alerts for potential cardiovascular issues [2] - The device integrates multiple functionalities, including vital sign monitoring, environmental sensing, smart alarms, and medication reminders, along with a magnetic storage design for seamless integration with Haier's smart home ecosystem [2][3] - User data collected by the M8 will be stored in the Haier Smart Home app and can be synchronized across various devices, enabling a comprehensive and intelligent chronic disease management platform [3] Group 2: Market Potential and Growth - The global home healthcare device market is projected to reach $58.3 billion in 2024, with a year-on-year growth of 23.5%, and is expected to exceed $100 billion by 2028, with a compound annual growth rate of 22.3% [5] - Haier aims to achieve a growth rate of approximately 30% in the blood pressure monitor segment, with aspirations to rank among the top three global brands [5] Group 3: Challenges and Compliance - The integration of smart features into medical devices faces challenges due to compliance requirements, as each new feature necessitates re-certification, leading to longer development cycles and higher costs [5] - Current market competitors, particularly in Japan, have slower product iteration rates, presenting an opportunity for Haier to capitalize on its innovative approach [5] Group 4: Future Developments - Future iterations of Haier's blood pressure monitors are expected to include functionalities for monitoring blood sugar and blood oxygen levels, enhancing the device's capabilities [3] - The company is focusing on AI health management, IoT integration, and data-driven services to accelerate its presence in the smart healthcare market [5][6]