智通财经APP讯，海信家电(00921)发布公告，于2025年5月27日至2025年10月13日期间，公司及公司的 附属公司空调营销公司、古洛尼公司及冰箱营销公司(作为认购方)订立金谷信托理财协议，以认购金谷 信托理财产品，认购金额为人民币17.39亿元。 ...

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産生或 因依賴該等內容而引致的任何損失承擔任何責任。 HISENSE HOME APPLIANCES GROUP CO., LTD. 董事會宣佈，於 2025 年 5 月 27 日至 2025 年 10 月 13 日期間，本公司及本公司的附屬公司 空調營銷公司、古洛尼公司及冰箱營銷公司（作為認購方）訂立金谷信託理財協議，以認 購金谷信託理財產品，認購金額為人民幣 1,739,000,000 元。 本集團使用自有閒置資金支付該等金谷信託理財協議下的認購金額。 每份金谷信託理財協議本身並不構成本公司根據上市規則第 14.06 條須予披露的交易。然 而，根據上市規則第 14.22 條，當該等金谷信託理財協議下的認購金額合併計算時，相關適 用百分比率（定義見上市規則）超過 5%但低於 25%。因此，該等金谷信託理財協議下的交 易按合併計算基準構成本公司的須予披露交易，並須遵守上市規則下的申報及公告規定。 背景 本公司第十二屆董事會 2025 年第一次會議以及 20 ...

海信家電集團股份有限公司 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 部份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。 HISENSE HOME APPLIANCES GROUP CO., LTD. 中國廣東省佛山市，2025年10月13日 於本公告日期，本公司的執行董事為高玉玲女士、賈少謙先生、于芝濤先生、方 雪玉女士及代慧忠先生；本公司的獨立非執行董事為李志剛先生、蔡榮星先生及 徐國君先生；及本公司的職工代表董事為殷必彤先生。 （在中華人民共和國註冊成立的股份有限公司） （股份代號：00921） 1 1. 審議批准本公司及其附屬公司截至2025年9月30日未經審計的第三季度業 績；及 2. 處理任何其他事項（如有）。 海信家電集團股份有限公司 董事長 高玉玲 公告 董事會會議通知 海信家電集團股份有限公司（「本公司」）董事會（「董事會」）茲通告謹定於2025 年10月28日（星期二）舉行董事會會議，以處理以下事項： 承董事會命 ...

Investment Rating - The report maintains a positive outlook on the home appliance sector, particularly focusing on white goods, with an emphasis on their undervalued status, high dividends, and stable growth potential [4]. Core Insights - The report highlights the impact of the fourth batch of government subsidies amounting to 69 billion yuan, aimed at promoting the replacement of old appliances, which is expected to stimulate demand in the home appliance market [10][68]. - The production and sales of major appliances such as air conditioners, refrigerators, and washing machines have shown mixed results, with a notable decline in production for October 2025 compared to the previous year [11][32]. - The report identifies three main investment themes: white goods benefiting from favorable real estate policies, export opportunities for companies with strong client orders, and the demand for core components driven by the overall market growth [4]. Summary by Sections Industry Dynamics - The home appliance sector's performance is closely tied to government policies, with the recent 690 billion yuan subsidy expected to enhance consumer purchasing power [10][68]. - October 2025 production for air conditioners, refrigerators, and washing machines is projected to decline by 9.9% compared to the previous year, indicating potential challenges in the market [11]. Sales Data - In August 2025, the air conditioning sector saw a production increase of 9.4% year-on-year, but total sales decreased by 1%, with domestic sales up by 1.2% and exports down by 4.2% [32]. - The refrigerator market experienced a production increase of 3.4% and a sales increase of 2.1%, with domestic sales rising by 5.9% while exports fell by 0.8% [36]. - The washing machine sector reported a production increase of 5.8% and a sales increase of 6.6%, with domestic sales slightly up by 0.6% and exports up by 12.1% [37]. Key Companies - The report notes that major companies such as Midea, Haier, and Gree are well-positioned to benefit from the favorable market conditions and government policies [4]. - Companies like Ousheng Electric and Dechang Co. are highlighted for their stable income growth driven by large client orders and expanding automotive parts businesses [4]. Component Market - The demand for core components is expected to rise due to the overall growth in the white goods sector, with companies like Huaxiang and Sanhua Intelligent Control being recommended for their competitive advantages [4].

Investment Rating - The report maintains an "Outperform" rating for the industry [7] Core Insights - The report highlights a significant increase in holiday travel and consumption, with an average of 3.04 billion people traveling daily from October 1 to 8, a year-on-year increase of 6.3% [3][11] - Domestic consumption is showing steady improvement, with average daily sales in related sectors increasing by 4.5% during the holiday period, driven by strong performance in digital products, jewelry, and cultural services [3][15] - The offline performance of the entertainment sector is robust, with a 39.5% year-on-year increase in audience numbers for live performances during the holiday [3][20] Summary by Sections Holiday Consumption Trends - The report notes a rise in domestic travel, with 8.88 billion domestic trips taken during the holiday, an increase of 1.23 billion trips compared to the previous year [11][12] - The average spending per person decreased by 13% despite the increase in total expenditure, which reached 809 billion yuan [11][12] Retail and E-commerce Performance - Key retail and catering enterprises saw a 2.7% year-on-year increase in sales during the holiday [19] - E-commerce platforms experienced a surge in sales of green organic foods (up 27.9%), smart home products (up 14.3%), and domestic fashion brands (up 14.1%) [19][20] Investment Recommendations - The report suggests focusing on several sectors for potential investment, including: 1. Major appliances benefiting from trade-in programs, recommending companies like Midea Group, Haier Smart Home, and Gree Electric [4][23] 2. The pet industry, which is expected to remain resilient, with recommendations for companies like Guai Bao Pet and Zhongchong Co [4][23] 3. Small appliances and branded apparel, which may see a rebound in demand, with recommendations for companies like Bear Electric and Anta Sports [4][23] 4. Electric two-wheelers, with a strong outlook for domestic sales improvement, recommending companies like Ninebot and Yadea [4][23] Global Market Opportunities - The report emphasizes the long-term theme of international expansion, recommending companies like Ecovacs and Roborock in the cleaning appliance sector, and Midea and Haier in the major appliance sector [5][24] - It also highlights the potential for motorcycle brands to increase their market share overseas, suggesting companies like Chunfeng Power and Longxin General [5][24] Market Data - The home appliance sector saw a slight decline of 0.4% this week, with specific segments showing varied performance: white goods up 0.8%, black goods down 0.3%, and kitchen appliances down 1.0% [25]

Core Insights - The white goods sector experienced a slight increase of 0.35% on October 10, with Whirlpool leading the gains [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Company Performance - Whirlpool (600983) closed at 10.45, up 2.25% with a trading volume of 36,800 lots and a transaction value of 38.186 million yuan [1] - TCL Smart Home (002668) closed at 9.81, up 1.34% with a trading volume of 160,700 lots and a transaction value of 157 million yuan [1] - Haier Smart Home (600690) closed at 25.66, up 0.86% with a trading volume of 570,100 lots and a transaction value of 146.7 million yuan [1] - Hisense Home Appliances (000921) closed at 25.92, up 0.74% with a trading volume of 150,300 lots and a transaction value of 391 million yuan [1] - Midea Group (000333) closed at 72.83, up 0.28% with a trading volume of 433,300 lots and a transaction value of 3.168 billion yuan [1] - Gree Electric Appliances (000651) closed at 40.41, up 0.07% with a trading volume of 609,600 lots and a transaction value of 2.470 billion yuan [1] Capital Flow - The white goods sector saw a net inflow of 238 million yuan from institutional investors, while retail investors experienced a net outflow of 104 million yuan [1] - Midea Group had a net inflow of 191 million yuan from institutional investors, while it faced a net outflow of 89.444 million yuan from retail investors [2] - Hisense Home Appliances recorded a net inflow of 31.2979 million yuan from institutional investors, with a net outflow of 27.4712 million yuan from retail investors [2] - Haier Smart Home had a net inflow of 15.373 million yuan from institutional investors, while retail investors saw a net outflow of 1.29868 million yuan [2]

Market Overview - The white goods sector increased by 0.44% on October 9, with Shenzhen Konka A leading the gains [1] - The Shanghai Composite Index closed at 3933.97, up 1.32%, while the Shenzhen Component Index closed at 13725.56, up 1.47% [1] Stock Performance - Shenzhen Konka A (000016) closed at 5.42, up 2.85% with a trading volume of 572,500 shares and a turnover of 311 million yuan [1] - Gree Electric (000651) closed at 40.38, up 1.66%, with a trading volume of 638,100 shares and a turnover of 2.543 billion yuan [1] - Other notable stocks include: - Aucma (600336) at 6.96, up 1.16% - Haier Smart Home (600690) at 25.44, up 0.43% - Midea Group (000333) at 72.63, down 0.04% [1] Capital Flow - The white goods sector experienced a net outflow of 427 million yuan from institutional investors and 165 million yuan from speculative funds, while retail investors saw a net inflow of 592 million yuan [1] - Detailed capital flow for key stocks includes: - Gree Electric: net outflow of 59.31 million yuan from institutional investors [2] - Hisense Home Appliances (000921): net inflow of 17.31 million yuan from institutional investors [2] - Aucma: net inflow of 16.23 million yuan from institutional investors [2] - Midea Group: significant net outflow of 443 million yuan from institutional investors [2]

Core Viewpoint - Hisense Home Appliances has experienced a decline in stock price and significant changes in shareholder structure, indicating potential challenges in the market and investor sentiment [1][2][3]. Stock Performance - The stock price of Hisense Home Appliances has dropped by 7.81% year-to-date, with a recent decline of 6.56% over the last five trading days [2]. - As of October 9, the stock was trading at 25.51 CNY per share, with a market capitalization of 35.328 billion CNY [1]. Financial Performance - For the first half of 2025, Hisense Home Appliances reported a revenue of 49.34 billion CNY, reflecting a year-on-year growth of 1.44%, and a net profit attributable to shareholders of 2.077 billion CNY, up by 3.01% [2]. Business Overview - Hisense Home Appliances, established in April 1997 and listed in July 1999, is primarily engaged in the manufacturing and sales of refrigerators, air conditioners, and home appliances [2]. - The company's main revenue sources are: HVAC (48.02%), washing machines (31.20%), and other segments (20.78%) [2]. Shareholder Structure - As of June 30, 2025, the number of shareholders increased by 27.22% to 41,200, with an average of 0 shares per shareholder [2]. - The top circulating shareholder, Hong Kong Central Clearing Limited, reduced its holdings by 20.65 million shares [3].

下面根据"2025年佛山企业100强"，简单介绍一下。今年榜单入围门槛为31.34亿元，营业收入总额达到 16690.5亿元，同比增长2.22%。研发投入总计324.65亿元，研发强度（研发费用/营业收入）为2.70%， 同比提升0.68个百分点 佛山，地处珠三角腹地，是粤港澳大湾区重要节点城市。去年GDP达到1.34万亿元、稳坐广东经济第三 城的位置。坚持制造业当家，是全国第四个规上工业总产值突破3万亿元的城市，形成了装备制造、泛 家居两大万亿级产业集群。 位列第三的海信家电，前身是成立于1984年的科龙电器，2006年被海信集团收购，主要研发、制造和销 售冰箱、家用空调、中央空调、冷柜、洗衣机、厨房电器等电器产品，汽车空调压缩机及综合热管理系 统，拥有"Hisense""Ronshen"等八大品牌。 去年实现营收927.46亿元，净利润33.48亿元，同比分别增长8.35%和17.99%。暖空空调产品是重要支 柱，收入同比增加4.22%至402.84亿元，占比超过四成。其中，中央空调国内多联机市场份额超过 20%，稳居第一。冰箱零售额同比上升21%，市占率增加0.8个百分点，位居行业第二。值得一提的是， ...

内容概况：家电维修涵盖了各类家电产品的维护与修理，从传统的电视机、洗衣机，到现代的冰箱、空 调以及新兴的智能家居设备。近年来，随着家电产品在社会中的广泛使用和消费者对产品耐用性、可靠 性要求的不断提高，家电维修已逐渐发展成为不可或缺的重要服务领域。在居民收入持续增长的推动 下，人们对家电的性能和使用体验提出了更高期望，而家电行业整体进入存量市场阶段，进一步为家电 维修带来了巨大的市场需求和广阔的发展空间。家电维修行业目前处于稳步发展阶段，市场需求持续增 长。数据显示，2016-2024年中国家电维修行业市场规模从2351亿元增长至3990亿元，年复合增长率为 6.8%。未来，随着人们生活水平的提高和家电产品的更新换代，家电维修行业的前景将更加广阔。尤 其是在智能家居、物联网等新兴技术的推动下，家电维修行业将迎来更多的发展机遇。 相关上市企业：美的集团（000333）、海尔智家（600690）、格力电器（000651）、小米集团-W （01810）、海信家电（000921）、四川长虹（600839）、奥克斯国际（02080）、创维集团 （00751）、TCL科技（000100）、老板电器（002508）、苏泊尔 ...