Core Viewpoint - Haier Smart Home (600690) reported a revenue of RMB 156.469 billion for the six months ending June 30, 2025, representing a year-on-year increase of 10.2% [1] - The company has embraced digitalization and AI technology to enhance operational efficiency and resilience amid a challenging external environment [1] Group 1: Financial Performance - Adjusted operating profit reached RMB 13.2 billion, up 12.9% year-on-year [1] - Net profit attributable to shareholders was RMB 12.033 billion, an increase of 15.6% year-on-year [1] - Basic earnings per share were RMB 1.3, with a proposed dividend of RMB 2.69 per 10 shares [1] Group 2: Domestic Market Performance - Domestic market revenue grew by 8.8% during the reporting period [1] - The company launched innovative products such as the Haier Mairang refrigerator and Leader's lazy three-tub washing machine, which are leading industry trends [1] - The Casarte brand saw revenue growth exceeding 20%, while the Leader brand's revenue increased by over 15% [1] Group 3: International Market Performance - Overseas market revenue increased by 11.7% [2] - The company focused on high-end brand creation by localizing operations and enhancing product iteration and retail transformation [2] - Emerging markets showed significant growth: South Asia up 32%, Southeast Asia up 18%, and Middle East & Africa up 66% [2] Group 4: Profitability and Cost Management - Gross margin reached 26.4%, a 0.1 percentage point increase compared to the same period in 2024 [2] - The domestic market focused on extreme cost management, leading to improved gross margins [2] - The overseas market emphasized high-end brand strategies and optimized manufacturing efficiency through a digital procurement platform [2]

Summary of Haier's Conference Call Company Overview - **Company**: Haier Smart Home Co., Ltd. - **Industry**: Home Appliances Key Points and Arguments Market Performance and Challenges - Haier's overseas business accounts for over 50% of its revenue, primarily concentrated in the sluggish U.S. market, which is affected by a weak real estate market and price wars, leading to performance pressure [2][4] - In contrast, Midea benefits from its OEM business and inventory replenishment cycle, while Gree benefits from domestic subsidy policies, resulting in better fundamentals compared to Haier [2] - Haier's acquisition of GE has resulted in significant dollar-denominated debt, leading to high financial costs and a lower dividend yield compared to Midea and Gree by 1-2 percentage points, impacting its attractiveness to investors [2][5] ETF and Fund Dynamics - In the upcoming 2024 home appliance bull market, ETF holdings in Midea have significantly increased, while Haier has seen less passive fund interest due to its lower weight in major indices like CSI 300 and SSE 50 [2][6] - Midea's valuation is approximately 13 times earnings, while Haier is just above 11 times, creating a valuation gap of about 1.5 to 2 times, which affects Haier's performance [5] Long-term Competitive Strength - Haier maintains strong long-term competitiveness, benefiting from its international expansion and high-end product strategy, with its Casarte brand competing directly with foreign brands in the domestic market [2][10] - In the U.S. market, Haier has surpassed Whirlpool to become the leading home appliance company, achieving growth through an increased share of mid-to-high-end sub-brands [12] Future Growth Potential - The U.S. is entering a new interest rate cut cycle, which is expected to revive the real estate market, positively impacting downstream companies like Haier [3][13] - Haier's supply chain in North America is over 80%, making it well-positioned to benefit from changes in tariff policies [13] Financial and Valuation Concerns - Haier faces short-term challenges regarding dividend yield and valuation, but potential changes in fund flows and market sentiment could present buying opportunities for long-term investors [14][15] - The most significant factors influencing white goods stock prices in the coming years will be structural changes in fund flows rather than fundamental changes in the companies themselves [15] Conclusion - Haier's long-term growth prospects remain strong despite current challenges, with potential for recovery as market conditions improve and its competitive positioning strengthens in both domestic and international markets [10][14]

Group 1 - Cambricon expects to achieve an annual revenue of 5 billion to 7 billion yuan in 2025 [3] - Guolian Minsheng plans to establish a 1.22 billion yuan fund in collaboration with Guolian Life, focusing on new productivity and smart technology investments [4] - Chipone is planning to acquire equity in Chipwise Semiconductor Technology and will suspend trading for up to 10 trading days [5] - Dongxin shares will suspend trading for up to 3 trading days due to abnormal stock trading fluctuations [6] - Zhonghuan Hailu is planning a change in company control, leading to a suspension of trading for up to 2 trading days [7] - Jinghe Integrated plans to issue H-shares and list on the Hong Kong Stock Exchange, pending shareholder and regulatory approvals [9] Group 2 - SMIC reported a 35.6% year-on-year increase in net profit for the first half of the year, with revenue of 4.456 billion USD, up 22% [10] - Northern Huachuang achieved a net profit of 3.208 billion yuan in the first half of the year, a 14.97% increase, with revenue of 16.142 billion yuan, up 29.51% [11] - Gree Electric reported a net profit of 14.412 billion yuan, a 1.95% increase, with revenue of 97.325 billion yuan, down 2.46% [12] - Wancheng Group's net profit surged by 50,358% to 472 million yuan, with revenue of 22.583 billion yuan, up 106.89% [13] - ZTE Corporation's net profit decreased by 11.77% to 5.058 billion yuan, with revenue of 71.553 billion yuan, up 14.51% [14] - Longxin Bochuang's net profit increased by 1,121.21% to 168 million yuan, with revenue of 1.2 billion yuan, up 59.54% [15] - SF Holding reported a net profit of 5.738 billion yuan, a 19.37% increase, with revenue of 146.858 billion yuan, up 9.26% [16] - CITIC Securities achieved a net profit of 13.719 billion yuan, a 29.80% increase, with revenue of 33.039 billion yuan, up 20.44% [18] - Liou Co. turned a profit with a net profit of 478 million yuan, compared to a loss in the previous year, with revenue of 9.635 billion yuan, down 9.62% [19] - Guolian Minsheng's net profit skyrocketed by 1,185.19% to 1.127 billion yuan, with revenue of 4.011 billion yuan, up 269.40% [20] - Zhongke Shuguang's net profit increased by 29.39% to 729 million yuan, with revenue of 5.85 billion yuan, up 2.41% [21] - Lingzhi Software's net profit surged by 1,002% to 112 million yuan, with revenue of 516 million yuan, down 3.04% [22] - Huasheng Tiancheng turned a profit with a net profit of 140 million yuan, compared to a loss in the previous year, with revenue of 2.262 billion yuan, up 5.11% [23] - China Galaxy reported a net profit of 6.488 billion yuan, a 47.86% increase, with revenue of 13.747 billion yuan, up 37.71% [24] - Huahong's net profit decreased by 71.95% to 74.315 million yuan, with revenue of 8.018 billion yuan, up 19.09% [25] - XGIMI's net profit increased by 2,062% to 88.662 million yuan, with revenue of 1.626 billion yuan, up 1.63% [26] - Zhongjin Gold reported a net profit of 2.695 billion yuan, a 54.64% increase, with revenue of 35.067 billion yuan, up 22.90% [27] - Zhongwei Company achieved a net profit increase of 37% to 706 million yuan, with revenue of 4.961 billion yuan, up 43.88% [28] Group 3 - Aojie Technology's shareholder Alibaba Network plans to reduce its stake by up to 3% [32] - Hengsheng Energy's actual controller plans to reduce its stake by up to 2% [33] - Jinghua New Materials' controlling shareholder plans to reduce its stake by up to 3.01% [34] - Chunzong Technology's multiple shareholders plan to reduce their stake by up to 2% [35]

公告 關於變更回購股份用途並註銷的公告 本公告乃海爾智家股份有限公司（「公司」、「本公司」）董事會（「董事會」）根據香港法 例第571章《證券及期貨條例》第XIVA部及香港聯合交易所有限公司證券上市規則 第13.09(2)(a)條及第13.10B條作出。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Haier Smart Home Co., Ltd.* 海爾智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 茲提述本公司日期為2022年3月30日的公告，內容有關（其中包括）董事會同意本公 司回購部分A股社會公眾股股份，用於實施本公司股權激勵╱員工持股計劃。 本公司於2025年8月28日召開第十二屆董事會第二次會議，會議審議通過了《海爾智 家股份有限公司關於變更部分回購股份用途並註銷的議案》，本公司擬對2022年度 回購計劃（定義見下文）回購專用證券賬戶中的1,472,684股A股用途進行變更，將 – 1 – 「用於股 ...

Core Viewpoint - The article summarizes key announcements from various listed companies in the Shanghai and Shenzhen stock markets, providing insights into their financial performance and strategic plans for investors [2]. Company Announcements - Cambrian expects to achieve an annual revenue of 5 billion to 7 billion yuan in 2025, highlighting the management's preliminary forecast without constituting a commitment to investors [3]. - Guolian Minsheng plans to establish a 1.22 billion yuan fund in collaboration with Guolian Life Insurance, focusing on investments in new productivity and smart technology sectors [4]. - Chipone Technology is planning to acquire equity in Chipwise Semiconductor Technology, leading to a temporary suspension of its stock trading [5][6]. - Dongxin Technology's stock will be suspended for up to three trading days due to abnormal trading fluctuations [7]. - Zhonghuan Hailu is undergoing a potential change in control, resulting in a stock suspension for up to two trading days [8]. - Jinghe Integrated plans to issue H-shares and list on the Hong Kong Stock Exchange, pending shareholder and regulatory approvals [9]. Financial Performance - SMIC reported a 22% increase in revenue to 4.456 billion USD and a 35.6% rise in net profit to 320 million USD for the first half of the year [10]. - Northern Huachuang achieved a 29.51% increase in revenue to 16.142 billion yuan and a 14.97% rise in net profit to 3.208 billion yuan [11]. - Gree Electric's revenue decreased by 2.46% to 97.325 billion yuan, while net profit grew by 1.95% to 14.412 billion yuan [12]. - Wancheng Group reported a staggering 50358.8% increase in net profit to 472 million yuan, with revenue up 106.89% to 22.583 billion yuan [13]. - ZTE Corporation's net profit fell by 11.77% to 5.058 billion yuan, despite a 14.51% increase in revenue to 71.553 billion yuan [14]. - Longxin Bochuang's net profit surged by 1121.21% to 168 million yuan, with revenue increasing by 59.54% to 1.2 billion yuan [15]. - SF Holding's revenue grew by 9.26% to 146.858 billion yuan, with net profit increasing by 19.37% to 5.738 billion yuan [16]. - CITIC Securities reported a 29.80% increase in net profit to 13.719 billion yuan, with revenue up 20.44% to 33.039 billion yuan [18]. - Liou Co. turned a profit with a net profit of 478 million yuan, compared to a loss in the previous year [19][20]. - Guolian Minsheng's net profit skyrocketed by 1185.19% to 1.127 billion yuan, with revenue increasing by 269.40% to 4.011 billion yuan [21]. - Zhongke Shuguang's net profit rose by 29.39% to 729 million yuan, with revenue up 2.41% to 5.85 billion yuan [22]. - Lingzhi Software's net profit increased by 1002.2% to 112 million yuan, despite a slight revenue decline [23]. - Huasheng Tiancheng returned to profitability with a net profit of 140 million yuan, compared to a loss in the previous year [24]. - China Galaxy's net profit grew by 47.86% to 6.488 billion yuan, with revenue increasing by 37.71% to 13.747 billion yuan [25]. - Huahong's net profit fell by 71.95% to 74.315 million yuan, despite a revenue increase of 19.09% [26]. - XGIMI Technology's net profit surged by 2062.34% to 88.662 million yuan, with revenue up 1.63% [27]. - Zhongjin Gold's net profit increased by 54.64% to 2.695 billion yuan, with revenue rising by 22.90% to 35.067 billion yuan [28]. - Zhongwei Company reported a 36.62% increase in net profit to 706 million yuan, with revenue up 43.88% [29]. - Tianpu Company reported a net profit decline of 16.08% to 11.298 million yuan, with revenue down 3.44% [30]. - Haier Smart Home's net profit increased by 15.59% to 12.033 billion yuan, with revenue up 10.22% to 156.494 billion yuan [31]. Shareholding Changes - Aojie Technology's shareholder Alibaba Network plans to reduce its stake by up to 3% [32]. - Hengsheng Energy's actual controller plans to reduce its stake by up to 2% [33][34]. - Jinghua New Materials' controlling shareholder plans to reduce its stake by up to 3.01% [35]. - Chunzong Technology's multiple shareholders plan to reduce their stake by up to 2% [36].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何 部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Haier Smart Home Co., Ltd.* 海爾智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 關連交易 收購目標公司股權 董事會欣然宣佈，為滿足本公司全資附屬公司海爾開利業務發展的需要，2025年 8月28日，海爾開利與海爾集團附屬公司海爾產業發展訂立股權轉讓協議，據 此，海爾開利同意收購而海爾產業發展同意出售海雲聯100%股權。 過去十二個月內，除已公告交易外，本公司附屬公司青島海爾智能家電科技有限 公司向海爾集團的附屬公司青島海逸文華商業管理有限公司增資，取得其 95.56%股權（「前次交易」）。 於本公告日期，由於海爾集團直接及間接持有本公司投票權約34%，故海爾集團 為本公司的控股股東，海爾集團及其附屬公司海爾產業發展因此成為本公司的關 連人士。因此，已公告交易、前次交易及股權轉讓協議項下擬進行之交易構成香 港上市規則第十四A章下的關連交易。 – ...

EF001 於本公告日期，本公司執行董事為李華剛先生及Kevin Nolan先生；非執行董事為宮偉先生、俞漢度先生、錢大群先生及李少華先 生；獨立非執行董事為王克勤先生、李世鵬先生、吳琪先生及汪華先生；及職工董事為孫丹鳳女士。 其他信息 第 1 頁 共 2 頁 v 1.1.1 EF001 在實施權益分派的股權登記日前公司總股本發生變動的，擬維持分配總額不變，相應調整每股分配比例。 免責聲明 發行人董事 | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 海爾智家股份有限公司 | | 股份代號 | 06690 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月之中期股息 | | 公告日期 | 2025年8月28日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不會就本公告全部或任何部份內容 而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 Haier Smart Home Co., Ltd.* 海爾智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 截至2025年6月30日止六個月之 中期業績公告 | 財務摘要 | | | | | --- | --- | --- | --- | | | 截至6月30日止六個月 | | | | | 2025年 | 2024年 | 變動 | | | 人民幣百萬元 | 人民幣百萬元 | % | | | （未經審核） | （未經審核） | | | | | （經重列） | | | 收入 | 156,469 | 141,981 | 10.2 | | 毛利 | 41,240 | 37,284 | 10.6 | | 經調整經營利潤（定義見下文） | 13,200 | 11,689 | 12.9 | | 期內溢利 | 12,485 | 10,774 | 15.9 | | 應佔： | | | | ...

《海尔新声浪》空调场神反转，选手神仙打架，评委现场加码！网友笑疯："太好看了！我就爱看这种戏 剧性名场面！" 这就是8月26日播出的《海尔新声浪》空调专场。以"无形亦有形，AI上好空气"为主题，五位选手轮番上 阵，把海尔空调的五大"形状"——智能、舒适、稳定、节能、健康——演绎成情景剧、音乐剧、脱口秀、 京剧与模拟解说，让"好空气"的科技变成了观众眼前鲜活的故事。 这场比赛的评委阵容豪华： 海尔智家空调产业营销总监雷洪亮， 知名辩手陈铭和凤凰卫视主持人万俊。 有人熟悉产品细节，有人逻辑犀利善于点拨，有人从传播角度发现亮点。三种视角碰撞，让点评又专业又 有看头。 01 从"沙东"到吉林，热浪里的海尔 提起山东，大家第一反应往往是"最爱考公的省份"。在大众眼里，山东人似乎对"稳定"有着天生的 执着。 在《海尔新声浪》中，来自山东的选手付爱民分享了自己的故事。他坦言没少被家人叮嘱"争取早日 考上公务员"，但他却不以为然，并幽默回应说要回家啃老，只要父母工资稳定，全家就都稳定了。 而这个夏天，付爱民对"稳定"一词有了全新的理解。让他态度发生转变的，正是一台"特别稳定"的 海尔云溪空调。 这款空调搭载了"凉芯桥科技3. ...

Core Viewpoint - The company's performance growth is driven by both domestic and international markets, with significant contributions from the "old-for-new" appliance policy in China and double-digit growth in emerging markets [1][4]. Financial Performance - In the first half of 2025, the company achieved revenue of 156.49 billion yuan, a year-on-year increase of 10.2% - The net profit attributable to the parent company was 12.03 billion yuan, up 15.6% year-on-year - The operating cash flow reached 11.14 billion yuan, reflecting a 32.2% increase [1][3]. Domestic Market Growth - Domestic market revenue grew by 8.8%, showcasing stability amid fierce competition - The high-end brand Casarte saw revenue growth exceeding 20%, maintaining a leading position in the premium market - The Leader brand also performed well, with revenue growth over 15%, successfully targeting younger consumers [4][5]. International Market Expansion - International revenue increased by 11.7%, with emerging markets showing remarkable performance - South Asia experienced a growth of 33%, Southeast Asia 18%, and the Middle East and Africa 65% [4][6]. Digital Transformation and Innovation - The company is advancing digital transformation projects, leading to over 100% growth in retail sales through the POP channel and nearly 50% growth in e-commerce revenue - The AI-driven demand insight system improved SKU combination efficiency by 13% [4][7]. Product and Service Development - The company is focusing on smart home strategies, launching integrated solutions under the "Three Wings Bird" brand - Collaborations with partners like Boloni to develop complete kitchen appliance solutions and the introduction of AI technologies in products enhance user experience and product value [7][6]. Global Manufacturing and Distribution - The company has established a global presence with over 10+N innovation ecosystems, 163 manufacturing centers, and 126 marketing centers, covering nearly 230,000 sales points - This extensive global layout provides a buffer against geopolitical risks and tariff policy changes [6][5].