Investment Rating - The investment rating for Haier Smart Home is "Buy" (maintained) [2] Core Insights - Haier Smart Home's Q3 performance exceeded expectations, with total revenue of 234.05 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 10%. The net profit attributable to shareholders reached 17.37 billion yuan, up 15% year-on-year [7] - The company continues to enhance operational efficiency, achieving a gross margin of 27.2% in the first three quarters, a slight increase of 0.1 percentage points year-on-year. Operating cash flow also improved, with a net cash flow of 17.49 billion yuan, up 21% [7] - The report maintains profit forecasts for 2025-2027, expecting net profits of 21.55 billion, 24.78 billion, and 28.50 billion yuan respectively, with a consistent growth rate of 15% [7] Financial Data and Profit Forecast - Total revenue projections for Haier Smart Home are as follows: - 2025E: 305.13 billion yuan - 2026E: 323.38 billion yuan - 2027E: 341.89 billion yuan - Net profit forecasts are: - 2025E: 21.55 billion yuan - 2026E: 24.78 billion yuan - 2027E: 28.50 billion yuan - The expected earnings per share (EPS) for 2025E is 2.30 yuan, with a projected PE ratio of 12 [6][9]

海尔智家（600690）(06690)发布公告，2025年10月当月，公司未实施A股(下同)股份回购;本次回购实施 起始日(2025年4月7日)至2025年10月底，公司已累计回购股份4048.25万股，占公司总股本的比例为 0.431%，购买的最高价为26.64元/股、最低价为23.60元/股，支付的金额为10.17亿元。 ...

Core Viewpoint - Haier Smart Home (06690) announced that it has not implemented A-share buybacks in October 2025, with a total of 40.48 million shares repurchased from April 7, 2025, to the end of October 2025, accounting for 0.431% of the total share capital [1] Summary by Relevant Sections - **Share Buyback Details** - The company has repurchased a total of 40.48 million shares, representing 0.431% of its total share capital [1] - The highest purchase price was 26.64 CNY per share, while the lowest was 23.60 CNY per share [1] - The total amount spent on the buyback was 1.017 billion CNY [1]

Core Insights - The article highlights the strong performance of Haier air conditioners during the Double 11 shopping festival, with multiple products topping sales charts on major platforms like JD and Tmall [1][2] - A significant factor contributing to this success is a 20-day user testing campaign that generated 14.9 billion impressions and attracted 8.43 million participants, enhancing consumer trust in Haier's AI air conditioning technology [1][2] Product Performance - Haier's Mai Lang Comfort Wind air conditioner achieved top rankings in both JD's "Quality Air Conditioner List" and "Comfort Wind Trend List," while also securing the top spot in Tmall's "New Air Conditioner List" [1][2] - Other notable products include the Haier Little Red Flower energy-saving air conditioner, which ranked second in the "Healthy Wind Trend List" on JD, and the Haier Mai Lang Comfort Wind Pro, which also performed well on Tmall [2] Product Features - Haier's product lineup addresses diverse consumer needs, such as the Casarte Lingguang concealed air conditioner designed to blend seamlessly with home decor [6] - The Mai Lang Sleep New Wind air conditioner offers silent operation for a peaceful environment, while the Haier Yunxi air conditioner can operate effectively in extreme temperatures, providing heating at -35°C and cooling at 70°C [8] - The Casarte Galaxy central air conditioner provides comprehensive air management for large homes, and the Haier Warm Sun Pro central heating system offers energy-efficient winter heating solutions [10] Seasonal Transition - As the cooling season ends, the focus shifts to winter heating, with Haier's products designed to meet winter heating demands, such as the Yunxi air conditioner that addresses low-temperature heating challenges [13] - The Warm Sun Pro central heating system combines air conditioning and floor heating, ensuring even temperature distribution and energy savings [13] - Haier's commitment to innovation and user-centric design positions it well for continued growth in the heating season, with a comprehensive product matrix aimed at enhancing user comfort [13]

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 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條由海爾智家股份 有限公司作出。 以下公告的中文版本已於上海證券交易所網站(www.sse.com.cn)刊登，僅供參閱。 特此公告。 承董事會命 海爾智家股份有限公司 董事長 李華剛 中國青島 2025年10月31日 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。 * 僅供識別 北京市中伦律师事务所 关于海尔智家股份有限公司 差异化分红事项的 专项法律意见 2025 年 10 月 1 北京市中伦律师事务所 关于海尔智家 ...

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 海尔智家股份有限公司 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條由海爾智家股份 有限公司作出。 以下公告的中文版本已於上海證券交易所網站(www.sse.com.cn)刊登，僅供參閱。 特此公告。 承董事會命 海爾智家股份有限公司 董事長 李華剛 中國青島 2025年10月31日 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。 * 僅供識別 证券代码：600690 证券简称：海尔智家 公告编号：临 2025-068 上述回购符合相关法律法规规定及公司回购股份方 ...

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 以下公告的中文版本已於上海證券交易所網站(www.sse.com.cn)刊登，僅供參閱。 特此公告。 承董事會命 海爾智家股份有限公司 董事長 李華剛 中國青島 2025年10月31日 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。 （於中華人民共和國註冊成立之股份有限公司） 股份代號：6690 * 僅供識別 海外監管公告 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.10B條由海爾智家股份 有限公司作出。 证券代码：600690 证券简称：海尔智家 公告编号：临2025-067 本次利润分配方案经海尔智家股份有限公司（简称"公司"、"本公司"）2 ...

Core Insights - The article highlights the strong performance of Haier air conditioners during the Double 11 shopping festival, with multiple products topping sales charts on major platforms like JD and Tmall [1][3] - A significant factor contributing to this success is a 20-day user testing campaign that generated 14.9 billion impressions and attracted 8.43 million participants, enhancing consumer trust in Haier's AI air conditioning technology [1][3] Product Performance - Haier's Mai Lang Comfort Wind air conditioner achieved top rankings in both JD's "Quality Air Conditioner List" and "Comfort Wind Trend List," while also securing the top spot in Tmall's "New Air Conditioner List" [3] - The Haier Little Red Flower energy-saving air conditioner ranked second in the "Healthy Wind Trend List," showcasing its "one-click AI energy-saving" feature [3] - The Haier Mai Lang Comfort Wind Pro also performed well, recognized for its precise sensing capabilities [3] Awards and Recognition - Various Haier products received awards at the closing ceremony, reflecting the brand's ability to meet diverse consumer needs: - The Casarte Lingguang Concealed Air Conditioner won the "Home Design Award" for its aesthetic integration into home decor [6] - The Mai Lang Sleep Fresh Air Conditioner was awarded the "Sleep Guardian Award" for its quiet operation [8] - The Haier Yunxi Air Conditioner received the "Extreme Weather Award" for its performance in harsh conditions [8] - The Leader Lazy Fresh Air Conditioner was recognized for its "One-Click AI Management" feature [8] - The Casarte Galaxy Central Air Conditioner won the "Whole House Air Management Award" for its comprehensive air management capabilities [10] - The Haier Warm Sun Pro Central Heating Air Conditioner was awarded the "Warm Living Award" for its energy-efficient heating solutions [10] Seasonal Transition and Future Outlook - As the cooling season ends, Haier is focusing on its heating products to maintain growth during the winter season, addressing common consumer concerns about low-temperature heating [13] - The Haier Yunxi Air Conditioner can operate effectively in extreme cold, while the Warm Sun Pro combines air conditioning and heating for a balanced temperature [13] - The Casarte Galaxy II Central Air Conditioner offers precise temperature control and air quality features, addressing indoor air quality issues during winter [13] - Haier's comprehensive product lineup is positioned to drive growth in the upcoming heating season, emphasizing continuous innovation based on user needs [13]

Core Viewpoint - Haier Smart Home announced that it did not implement A-share share repurchase in October 2025 [2] Summary by Category - **Company Announcement** - Haier Smart Home released a notice on October 31, stating that no A-share share repurchase was conducted in October 2025 [2]

Core Viewpoint - Haier Smart Home announced a cash dividend of 0.2692 yuan per share (before tax) for the first half of 2025, with the record date set for November 6, 2025, and the ex-dividend date on November 7, 2025 [1] Summary by Category - **Dividend Announcement** - The company will distribute a cash dividend of 0.2692 yuan per share (including tax) for the first half of 2025 [1] - The record date for shareholders to receive the dividend is November 6, 2025 [1] - The ex-dividend date is set for November 7, 2025 [1]