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 FF305 | 2. 股份分類 | 普通股 | 股份類別 H | | | 於香港聯交所上市 | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06690 | 說明 | 普通股- H股面值每股人民幣1元 (於香港聯交所上市) | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | | 事件 | | 已發行股份（不包括庫存股份）數 | 佔有關事件前的現有已發 目 | 行股份（不包括庫存股 份）數目百分比 (註3) | 庫存股份數目 | 每股發行/出售價 (註4) | | 已發行股份總數 | | 於下列日期開始時的結存(註1) | 2025年12月8日 | | 2,854,948,266 | | | 0 | | 2,854,948,266 | | 1) ...

Core Viewpoint - The air conditioning industry is undergoing a significant transformation, moving from a focus on temperature regulation to a more personalized experience that caters to individual comfort needs [3][4]. Group 1: Technological Innovations - Haier Air Conditioning won the first prize at the 34th National Building Materials and Home Furnishing Industry Annual Conference for its technology that allows a single air conditioner to emit two different temperature airflows simultaneously, addressing the issue of varying temperature preferences within the same household [3]. - The new technology enables the air conditioner to create two distinct temperature zones within a room, such as providing 26°C air in one area while delivering 28°C air in another, effectively solving the problem of individual temperature comfort [3][4]. - The air conditioning system can deliver comfortable airflow up to 16 meters away while maintaining a temperature difference of ±0.5°C throughout the room, alleviating common issues like uneven cooling and direct cold air blowing [4]. Group 2: Design and Efficiency - Haier has developed an intelligent design platform for its fans, which utilizes historical data to optimize the design of fan blades and airflow paths, resulting in quieter operation and reduced energy consumption [4]. - The new fan design significantly lowers operational noise and energy usage, translating complex algorithms into a user-friendly experience of quietness and energy efficiency [4]. Group 3: Industry Trends - The air conditioning industry is shifting its competitive focus from merely providing colder or more energy-efficient products to understanding and meeting the diverse needs of consumers [4][5]. - As most companies continue to compete on hardware specifications, Haier's approach emphasizes individual comfort, potentially serving as a catalyst for the next wave of industry transformation [5].

歌尔深耕智能硬件研制20余年，在声学、光学、微电子等领域拥有核心技术优势，并在智能制造领域持 续创新，为全球客户提供精密零组件与AI+智能整机从研发到量产的一站式服务。 围绕海尔集团智慧住居、大健康、数字经济三大业务板块布局，结合歌尔集团在精密零组件、智能硬件 以及智能制造等领域的经验沉淀和先进技术，双方将共同聚焦智能家电、工业互联网、新能源及人工智 能等领域，推动研发协同与成果转化，落地技术攻关项目，开展全场景务实合作，携手共筑智慧美好生 活。 具体到工业互联网与智能制造领域，新时达作为海尔生态的一员，将依托其在运动控制、工业机器人及 智能装备解决方案方面的技术积累，助力歌尔集团推进精密制造环节的智能化升级与工艺创新。目前， 新时达已在工业机器人、运动控制、具身智能场景探索等方面与歌尔展开合作。 【新华企业资讯12月16日】12月11日，海尔集团与歌尔集团正式签署战略合作协议，双方将聚焦智能家 电、工业互联网、新能源及人工智能等领域展开深度合作。海尔集团董事局主席、首席执行官周云杰， 歌尔集团董事长姜滨共同出席见证签约，并展开深入的交流与探讨。海尔集团副总裁、新时达董事长展 波，新时达总裁刘长文等一同出席了 ...

据香港交易所披露，贝莱德(BlackRock)对海尔智家股份有限公司-H股的多头持仓比例于2025年12月11 日从7.57%降至6.88%。 ...

Core Viewpoint - The Shandong Provincial Market Supervision Administration has released the results of the provincial quality supervision sampling inspection for household electric washing machines for 2025, indicating compliance and non-compliance issues among various manufacturers [3][5]. Group 1: Inspection Results - A total of 30 batches of household electric washing machines were sampled, with 5 batches from the production stage and 25 from the sales stage [3]. - The inspection was conducted based on multiple national standards related to safety, noise limits, energy efficiency, and other performance criteria [4]. - One batch from Heze Jinba Trading Co., Ltd. was found non-compliant due to issues with stability and mechanical hazards, with the manufacturer, Henan Xinfly Smart Home Technology Co., Ltd., contesting the results but ultimately failing the re-inspection [5]. Group 2: Compliance Standards - The inspection adhered to standards such as GB 4706.1—2005 for general safety requirements, GB 4706.24—2008 for specific requirements for washing machines, and GB 12021.4—2013 for energy efficiency and water efficiency limits [4]. - Key inspection criteria included protection against electric shock, input power and current, leakage current, noise levels, and washing performance metrics [4]. Group 3: Manufacturer Details - The non-compliant product was identified as a washing machine model produced by Henan Xinfly Smart Home Technology Co., Ltd., with the specific model being XPB110-1 [6]. - The inspection results also included a summary table of compliant products from various manufacturers, including Qingdao Haier and Hisense, indicating a range of models and compliance statuses [6][7].

Core Viewpoint - The consumer sector experienced a significant rally on December 16, driven by supportive policies aimed at expanding domestic demand, which has been elevated to a strategic priority for the economy [1][4]. Group 1: Policy Support - The article emphasizes that expanding domestic demand is crucial for economic stability and security, and it is not merely a temporary measure but a strategic initiative [1]. - The National Development and Reform Commission highlighted the need to unleash consumer potential through various measures, including special actions to boost consumption and plans to increase residents' income [1][4]. - The Central Economic Work Conference has prioritized "maintaining demand as the main driver and building a strong domestic market" as a key task for the upcoming year, reflecting the government's commitment to boosting consumption [1]. Group 2: Market Dynamics - The consumer sector's attractiveness is underscored by its current low valuation after a prolonged adjustment period, indicating a significant technical rebound demand [3]. - For instance, the food and beverage sector has a current price-to-earnings (P/E) ratio of 20.8, with a percentile ranking of only 13.04%, compared to over 64 times at its peak in February 2021, highlighting its investment value [3]. - Major consumer companies like Kweichow Moutai, Midea Group, and Haier Smart Home reported year-on-year profit growth in the first three quarters, demonstrating strong operational resilience [3]. Group 3: Investment Opportunities - A number of consumer stocks are showing characteristics of a "golden pit," where stock prices have declined despite strong earnings growth, presenting potential investment opportunities [3]. - Examples include leading condiment company Haitian Flavoring, which saw its stock price drop over 18% while achieving a 10.54% increase in net profit, and TCL Technology, which experienced a 16% decline in stock price with an 18.45% rise in net profit [3]. - Other companies like Xiangyuan Cultural Tourism, Xueda Education, and Bear Electric also fit this profile, offering potential for value investors [3]. Group 4: Future Outlook - Recent initiatives by the Ministry of Commerce and financial regulators to expand and upgrade rural consumption, along with credit support, open new avenues for market expansion [4]. - Analysts expect that the focus on expanding domestic demand will lead to more specific policies in the future, enhancing investor confidence in the consumer sector [4]. - The outlook for traditional consumption is anticipated to improve, while new consumption trends may experience rotation, but overall, the consumer sector is expected to maintain sustainability underpinned by both policy and market fundamentals [4].

Core Points - The Shandong Provincial Market Supervision Administration announced the results of the provincial quality supervision sampling inspection for electric fans in 2025, with a total of 31 batches inspected [3][5] - The inspection covered production, sales, and online sales channels, with 1 batch from production, 20 from sales, and 10 from online sales [3] - The inspection was based on multiple national standards related to electromagnetic compatibility, safety, energy efficiency, and noise limits for household appliances [4] Inspection Results - One batch of electric fans sold by Qingdao Bolu Industrial and Trade Co., Ltd. failed to meet relevant standards, specifically in output air volume and energy efficiency [5] - The Shandong Provincial Market Supervision Administration has instructed relevant departments to handle the non-compliance results according to the Product Quality Law and related regulations [5] Standards and Regulations - The inspection adhered to various standards including GB 4343.1-2018, GB 4706.1-2005, and GB 12021.9-2021, which cover electromagnetic compatibility, safety requirements, and energy efficiency for electric fans [4] - Specific items tested included protection against electric shock, input power and current, heat generation, leakage current, stability, mechanical hazards, noise, and energy efficiency ratings [4]

Core Viewpoint - The Shandong Provincial Market Supervision Administration announced the results of the provincial quality supervision sampling inspection for household gas stoves in 2025, revealing that one batch of products failed to meet relevant standards, specifically regarding combustion conditions [3]. Group 1: Inspection Results - A total of 90 batches of household gas stoves were sampled, with 80 from sales channels and 10 from online sales [3]. - The inspection was conducted based on standards such as GB 16410-2020 and GB 30720-2014, focusing on parameters like gas tightness, thermal load, combustion conditions, and efficiency [3]. - One batch from Linqu Haoyu Kitchen and Bath Store was found non-compliant, specifically failing on combustion conditions [3]. Group 2: Compliance and Actions - The Shandong Provincial Market Supervision Administration has mandated relevant market supervision departments to handle the non-compliant products according to the Product Quality Law and related regulations [3]. - The inspection results include a summary table of both compliant and non-compliant products, detailing the names, manufacturers, and inspection outcomes [4][5].

Core Insights - Zhou Yunjie, chairman of Haier Group, unexpectedly became a popular entrepreneur in 2025, gaining over one million followers across platforms in less than a year, transforming Haier's image among younger consumers [2][3] - His rise to fame was not due to marketing strategies but rather an accidental photo with another well-known entrepreneur, which sparked public curiosity and discussion [3][4] Group 1: Zhou Yunjie's Approach - Zhou Yunjie's content strategy is characterized by authenticity and simplicity, avoiding elaborate marketing tactics and instead focusing on real-life scenarios and user engagement [4][6] - He directly interacts with users, responding to comments and suggestions, which has led to successful product innovations like the "three-tub washing machine" and the remastering of the "Haier Brothers" animation [4][5] Group 2: Brand and User Engagement - Zhou emphasizes that his goal is not to build a personal brand but to elevate Haier's products and services, showcasing a strategic focus on long-term brand value rather than short-term personal fame [6][8] - The engagement strategy has resulted in a significant increase in brand favorability and a surge in younger user demographics, with Haier's WeChat index reportedly increasing by 15 times after Zhou's rise [8][9] Group 3: Entrepreneurial Philosophy - Zhou Yunjie's success reflects a shift in the perception of entrepreneurs, moving from individual heroism to a focus on listening to and addressing user needs [10][11] - His approach contrasts with other entrepreneurs who may struggle with maintaining their public personas, highlighting a preference for action over rhetoric in building trust and credibility [9][10]

Core Viewpoint - The ongoing debate over "aluminum replacing copper" in the air conditioning industry has intensified following comments from Gree Electric's chairman, Dong Mingzhu, emphasizing that aluminum has not yet reached the technical standards necessary to replace copper [1][7]. Group 1: Industry Standards and Developments - The China Refrigeration Society released a group standard for aluminum tube fin heat exchangers on December 11, 2023, with major manufacturers like Gree, Midea, Haier, Xiaomi, Hisense, TCL, and Aux participating in the standardization process [1][8]. - A new round of discussions on national standards for heat exchangers is expected to take place in January 2026 [1][8]. Group 2: Industry Disagreements - Several air conditioning companies, including Haier, Midea, and Xiaomi, have joined a self-regulatory agreement to promote aluminum heat exchangers while avoiding false claims and enhancing consumer trust [2][8]. - Gree has not joined this agreement, with Dong Mingzhu stating that the company will consider aluminum only when it can fully replace copper [2][9]. Group 3: Economic Factors - The debate over "aluminum replacing copper" has persisted for over a decade, often reignited by fluctuations in copper prices, which have recently reached historical highs, with LME copper prices exceeding $11,461 per ton [3][9]. - The copper-aluminum price ratio has remained between 2.5 and 4.5 since the supply-side reforms of 2017-2018, with the current ratio at 3.8 as of November 2025 [3][10]. Group 4: Technical Considerations - Concerns regarding aluminum's inferior thermal conductivity, strength, and corrosion resistance compared to copper have been raised, suggesting that using aluminum could negatively impact the lifespan and reliability of air conditioning units [3][6]. - The application of aluminum in refrigerators has progressed more rapidly, with aluminum accounting for nearly 90% of the cooling systems, while air conditioning remains more complex due to varying operational conditions [5][11]. Group 5: Policy Support - The Chinese government has elevated the "aluminum replacing copper" initiative to a policy level, with a plan issued in March 2025 to promote aluminum consumption in various sectors, including home appliances [4][10].