Core Insights - The report highlights the rise of Chinese brands in the Southeast Asian market, driven by a young population, digital economy growth, and strategic investments [1][9][12] - By 2024, China's exports to Southeast Asia are projected to reach $587 billion, marking a 12% year-on-year increase, with ASEAN6 countries contributing significantly to this growth [1][9][31] Trade Evolution - The historical trade relationship between China and Southeast Asia has been strengthened by the Belt and Road Initiative, enhancing infrastructure connectivity and economic ties [19][24] - The ASEAN6 countries, which include Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, account for 95% of the region's GDP, making them attractive markets for Chinese brands [1][25] Market Opportunities - Southeast Asia's demographic advantage, with over 6.5 billion people and a median age of 31, presents significant growth potential for Chinese brands [14][52] - The region's digital economy is rapidly expanding, with a notable shift towards e-commerce and fintech, driven by a young, tech-savvy consumer base [12][52] Industry Focus - Chinese brands have established leadership in sectors such as electronics and electric vehicles, with companies like BYD and Xiaomi holding over 25% market share [2][15] - The home appliance sector has seen brands like Haier and Midea increase their market share from 9% in 2015 to 25% in 2024 through localization and premium positioning [2][15] Competitive Landscape - The competitive landscape in Southeast Asia is being reshaped as Chinese brands leverage innovation, efficiency, and localization strategies to challenge traditional competitors [3][10] - Existing companies must adapt quickly to the digital capabilities and pricing strategies of Chinese competitors to maintain market share [10][14] E-commerce and Cross-border Trade - The rise of cross-border e-commerce, facilitated by platforms like Lazada and Shopee, has transformed consumer behavior in Southeast Asia, allowing Chinese brands to penetrate the market effectively [46][47] - Despite progress, e-commerce penetration remains low in key markets like Malaysia, Thailand, and Vietnam, indicating untapped opportunities for growth [47][52]

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 证券代码：600690 证券简称：海尔智家 公告编号：临2025-066 海尔智家股份有限公司 关于2025年半年度利润分配方案调整每股分配比例的 公告 中國青島 2025年10月23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。 * ...

2025年A股股份回购实施：公司于2025年3月27日召开第十一届董事会第十 三次会议，审议通过了《海尔智家股份有限公司关于回购部分A股社会公众股份 方案的议案》，同意公司以集中竞价的方式使用自有资金或自筹资金回购部分公 司A股股份，回购价格为不超过人民币40元/股，拟回购总金额不超过人民币20亿 元且不低于10亿元，实施期限为自董事会审议通过回购股份方案之日起12个月内。 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、经股东会审议通过的2025年半年度利润分配方案 2025年10月16日，海尔智家股份有限公司（以下简称"公司"）召开2025年 第一次临时股东会审议通过了《海尔智家股份有限公司2025半年度利润分配预 案》，除回购账户内已回购股份外，公司拟向全体股东每10股派发现金红利人民 币2.69元（含税）。按利润分配预案披露的扣除当时回购账户内已回购股份 64,384,670 股 后 的 公 司 总 股 本 9,318,528,664 股 计 算 ， 分 红 金 额 共 计 人 民 币 2,506,684,210. ...

Core Viewpoint - Haier Smart Home announced an adjustment to its profit distribution plan for the first half of 2025, maintaining the cash dividend per share despite changes in the number of repurchased shares [1] Summary by Relevant Sections - **Profit Distribution Adjustment** - The original plan was to distribute a cash dividend of RMB 2.69 per 10 shares (tax included), totaling RMB 25.07 billion (tax included) [1] - Due to changes in the number of repurchased shares, the adjusted plan still maintains a cash dividend of RMB 2.69 per 10 shares (tax included) [1] - **Total Share Capital** - The total share capital eligible for profit distribution has been adjusted to 9.312 billion shares [1]

Market Overview - The white goods sector increased by 0.83% on October 23, with Shenzhen Konka A leading the gains [1] - The Shanghai Composite Index closed at 3922.41, up 0.22%, while the Shenzhen Component Index closed at 13025.45, also up 0.22% [1] Stock Performance - Shenzhen Konka A (000016) closed at 5.56, up 3.35% with a trading volume of 1.31 million shares and a turnover of 736 million yuan [1] - TCL Smart Home (002668) closed at 9.90, up 1.64% with a trading volume of 135,300 shares and a turnover of 133 million yuan [1] - Midea Group (000333) closed at 74.89, up 1.37% with a trading volume of 347,600 shares and a turnover of 2.588 billion yuan [1] - Other notable performances include Snowman Electric (001387) up 1.08%, and Haier Smart Home (600690) up 0.59% [1] Capital Flow - The white goods sector experienced a net outflow of 141 million yuan from institutional investors, while retail investors saw a net inflow of 233 million yuan [1] - The detailed capital flow for individual stocks shows that TCL Smart Home had a net inflow of 12.34 million yuan from institutional investors, while Midea Group had a net inflow of 9.24 million yuan [2] - Conversely, Gree Electric (000651) faced a significant net outflow of 85.24 million yuan from institutional investors [2]

Group 1: Core Insights - The People's Bank of China and the State Administration of Foreign Exchange in Qingdao are advancing "technology finance" initiatives in alignment with national directives, focusing on enhancing mechanisms, credit supply, direct financing, and service capabilities [1][2][10] Group 2: Strengthening Policy Guidance - The primary task is to establish a technology finance system that aligns with high-quality development, creating a collaborative ecosystem involving government and financial institutions [2][3] - A "1+N" policy framework has been developed, involving 10 departments and 13 specific documents to guide technology finance development [2][3] Group 3: Enhancing Credit Supply - Structural monetary policy tools are being utilized to create a policy-driven technology finance product system, providing significant credit support to innovative enterprises [4][5] - By the end of September, 563 enterprises received loans totaling 6.68 billion yuan through technology innovation and technical transformation re-loans, leading the province in loan issuance [4] Group 4: Promoting Direct Financing - The introduction of a "technology board" in the bond market aims to facilitate the issuance of technology innovation bonds by various market participants [6][7] - As of September 2025, 10 technology innovation bonds were issued, raising 5.59 billion yuan, with significant participation from local enterprises [8][9] Group 5: Improving Financial Services - The establishment of specialized technology financial institutions is underway, with 15 branches already designated as technology finance specialty branches [10][11] - A comprehensive service system for technology enterprises has been created, covering over 20,000 companies and matching them with at least two key banks [11][12] Group 6: Enhancing Foreign Exchange Services - Pilot programs for cross-border financing have been initiated, increasing the facilitation limit for eligible enterprises from 5 million to 10 million USD [14] - By September 2025, 35 foreign debt registrations were completed, amounting to 126 million USD, reflecting the growing demand for cross-border financing among high-tech enterprises [14]

Core Insights - Qingdao's first private equity investment institution has been approved for a technology innovation bond registration quota of 300 million yuan, expanding the issuance of technology innovation bonds to cover all three types of entities in the city [1] Group 1: Technology Innovation Bonds - The People's Bank of China and the China Securities Regulatory Commission established the "technology board" system for the bond market, which supports the issuance of technology innovation bonds [1] - As of the end of September, two technology enterprises and two financial institutions in Qingdao have issued a total of 4.5 billion yuan in technology innovation bonds [1] Group 2: Qingdao Rural Commercial Bank - Qingdao Rural Commercial Bank successfully issued 1 billion yuan in technology innovation bonds on June 23, with an interest rate of 1.75% and a subscription multiple of 4.55, marking the first such bond for a local bank in Shandong province and nationwide for rural commercial banks [2] - The bank has a full license as a primary dealer in the open market and a market maker in the interbank bond market, allowing it to effectively connect policy supply with the needs of technology enterprises [2][3] Group 3: Fund Allocation - The funds raised from the bond issuance have been fully allocated, focusing on three main areas: core technology breakthroughs, results transformation for early-stage startups, and support for the growth of small and micro enterprises, with 97% of the funding directed towards small and micro enterprises [3] Group 4: Haier Smart Home - Haier's innovative product, the Leader three-tube lazy washing machine, has achieved over 200,000 units delivered within two months, supported by the company's emphasis on technology innovation and a competitive funding strategy [4] - The company has utilized technology innovation bonds to diversify its financing channels, which has provided strong support for balancing business development needs and costs [4][5] - Haier successfully issued medium-term notes of 2 billion yuan with a term of 3 years at an interest rate of 1.66%, demonstrating effective low-cost financing [6]

Core Points - Qingdao City has allocated 12.95 million yuan for 78 standardization projects in 2024, supporting 44 enterprises and institutions [1] - The projects include the development of international, national, and industry standards, with significant contributions from leading companies in various sectors [1][2] - The city aims to enhance its standardization efforts to support high-quality development in innovative industries [1][3] Group 1: Standardization Projects - 78 standardization projects received funding, including 2 international standards, 26 national standards, and 17 industry standards [1] - Key companies involved in international standard development include Haier Group, Haier Cloud, CRRC Qingdao Sifang, and Hisense Group [1][2] - The city has seen a 25% annual growth in the number of national standards led or participated in by local enterprises since 2021 [3] Group 2: Emerging and Advantageous Industries - In emerging industries, Hisense Vision Technology and Qingdao Spry Energy Technology are leading the development of national standards [2] - In advantageous industries, Haier Group and Qingdao Beer Co. are involved in international and national standard development for home appliances and beverages [2] - Qingdao Port Group is also contributing to national standards in automation and smart green port technologies [2] Group 3: Future Standards and Financial Support - Qingdao City is pursuing breakthroughs in future industries with new national standards being developed by companies like CETC Si Yi Technology [2] - Since 2021, the city has provided 70.98 million yuan in financial support for 2,148 standardization projects, significantly boosting participation [3] - The local government plans to continue promoting standardization as a key driver for innovation and economic development [3]

此次荣获两项大奖，得益于海尔空调推出的全屋AI健康空气解决方案。该方案以用户需求为核心，通 过AI技术实现从空调单品智能到全屋智慧空气管理的升级，贯彻国家"好房子"政策，为不同户型、不同 需求的用户提供个性化的健康空气体验。 2025年10月16日，第四届中国人居健康大会在北京成功召开，海尔空调携手中国建材市场协会、中国健 康管理协会、九牧、千年舟等多家领军企业发起的健康家产业创新联盟正式成立。会上，海尔空调凭借 在健康空气领域的卓越表现，成功入选"2025健康人居十大品牌"，并斩获2025年度全屋AI健康空气解决 方案科技创新卓越奖。 该解决方案展现出三大技术亮点。在系统创新方面，行业首创的全自研多末端五恒系统，整合冷暖控 温、新风控湿及智控三大子系统，从恒温、恒湿、恒氧、恒静、恒净五大维度实现对全屋空气的精准控 制。同时，"多末端"设计适配多种装修方案，动静分区技术提升50％升降温速度，为用户打造更个性 化、更舒适的健康空气环境。 海尔空调此次获奖，不仅体现了其在技术创新方面的领先实力，更展现了企业推动行业高质量发展的决 心。围绕"全屋AI智慧健康空气专家"的战略，海尔空调正以实际行动助力"好房子、好空气 ...

Core Insights - Qingdao is leveraging the rehabilitation industry as a breakthrough to cultivate a globally influential life and health industry cluster, supported by various policies aimed at addressing population aging and promoting "Healthy China" initiatives [1][3][15] - The city has implemented action plans and regulations to enhance the rehabilitation industry, facilitating innovation across the entire value chain [1][15] Group 1: Rehabilitation University - The Rehabilitation University, one of only eight new research-oriented universities in the country, has received comprehensive policy support from Qingdao in land supply, funding, and talent recruitment [4][7] - The university focuses on basic and cutting-edge scientific research, aiming to cultivate top innovative talents and explore innovative paradigms in rehabilitation higher education [4][7] - It has been granted over 300 research projects, including 74 from the National Natural Science Foundation, and has published more than 2,000 journal papers, becoming a key intellectual engine for the "China Rehabilitation Bay" initiative [7][15] Group 2: Product Experience Center - The Qingdao Rehabilitation Aids and Elderly Care Technology Innovation Product Experience Center, a 600-square-meter exhibition hall, showcases the integration of technology and industry under policy guidance [8][15] - This center, developed in collaboration with 28 companies including Haier, offers a comprehensive smart elderly care solution covering various aspects of elderly living [8][15] Group 3: Social Welfare Center - The Qingdao Economic and Technological Development Zone Social Welfare Center serves as a model for smart elderly care, integrating medical resources seamlessly into daily life [12][15] - Equipped with advanced medical devices and a remote consultation platform, the center enhances the professionalism and timeliness of medical services for the elderly [13][15] - The center has developed a comprehensive talent training system to supply high-quality nursing professionals, creating a replicable "Qingdao model" for smart elderly care [15]