Core Viewpoint - TCL Smart Home (002668) indicates that the rise in copper prices has not significantly impacted its operations due to the low proportion of copper in its raw materials [1] Group 1: Company Operations - The company reports that its raw material inventory and production operations are normal [1] - TCL maintains good relationships with its main raw material suppliers, which provides a scale advantage in procurement [1] Group 2: Market Strategy - The company plans to closely monitor market trends and implement measures such as technological improvements, production process optimization, and lean management to enhance its scale effect advantages [1] - These strategies aim to mitigate the impact of rising raw material prices [1]

Market Overview - The white goods sector experienced a decline of 0.14% on February 2, with the Shanghai Composite Index closing at 4015.75, down 2.48%, and the Shenzhen Component Index at 13824.35, down 2.69% [1] Individual Stock Performance - Aokema (600336) closed at 7.88, up 1.42% with a trading volume of 252,000 shares and a turnover of 202 million yuan - Midea Group (000333) closed at 77.85, up 0.34% with a trading volume of 345,900 shares and a turnover of 2.696 billion yuan - Gree Electric (000651) closed at 38.54, down 0.41% with a trading volume of 367,200 shares and a turnover of 1.424 billion yuan - Haier Smart Home (600690) closed at 25.00, down 0.44% with a trading volume of 471,000 shares and a turnover of 1.189 billion yuan - Deep Kangjia A (000016) led the decline, closing at 4.48, down 10.04% with a trading volume of 93,400 shares and a turnover of 41.824 million yuan [1] Capital Flow Analysis - The white goods sector saw a net inflow of 402 million yuan from institutional investors, while retail investors experienced a net outflow of 158 million yuan [1] - Midea Group had a net inflow of 508 million yuan from institutional investors, but a net outflow of 328 million yuan from retail investors [2] - Haier Smart Home recorded a net inflow of 29.328 million yuan from institutional investors, with a net outflow of 37.224 million yuan from retail investors [2] - Deep Kangjia A experienced a significant net outflow of 20.7661 million yuan from institutional investors, while retail investors had a net inflow of 15.3664 million yuan [2]

Core Viewpoint - TCL Smart Home is actively expanding its overseas production capacity to enhance its market share and support global expansion strategies [1] Group 1: Production Capacity - The company's production capacity is primarily located in Zhongshan and Hefei [1] - The first phase of the Thailand production base has been completed and is operational, expected to add a capacity of 300,000 units per year for refrigerators [1] - The second phase of the Thailand project is progressing, which is anticipated to add a capacity of 1.4 million units per year for refrigerators upon completion [1] Group 2: Market Expansion - The overseas capacity expansion will help consolidate and expand the company's market share in international markets [1] - The initiatives are aimed at meeting the demands of global market expansion and balancing potential tariff impacts [1] - The company's global strategy is expected to be further advanced through these overseas production efforts [1]

Core Viewpoint - The "Quality Return Dual Improvement" initiative launched by the Shenzhen Stock Exchange in February 2024 has garnered widespread response among listed companies, contributing to the stability of the capital market [1] Group 1: Company Participation and Performance - As of December 2025, 472 companies have released related action plans, with notable participation from consumer industry leaders such as Sanhua Intelligent Controls, Hisense Home Appliances, and TCL Smart Home [1] - Sanhua Intelligent Controls has achieved revenue growth from 160.21 billion yuan in 2021 to an estimated 279.47 billion yuan in 2024, with a compound annual growth rate (CAGR) of 20.38% and a projected net profit of 38.74 billion to 46.49 billion yuan for 2025, reflecting a year-on-year growth of 25% to 50% [3][4] - Hisense Home Appliances reported revenue growth from 741.15 billion yuan in 2022 to 927.46 billion yuan in 2024, with a CAGR of 11.87% and net profit increasing from 14.35 billion yuan to 33.48 billion yuan, achieving a CAGR of 52.74% [4] - TCL Smart Home's revenue grew from 78.43 billion yuan in 2022 to 183.61 billion yuan in 2024, with net profit rising from 4.24 billion yuan to 10.19 billion yuan [4] Group 2: Focus on Core Competencies - Companies are committed to focusing on their core businesses to enhance investor confidence, with Sanhua emphasizing its leadership in heat pump technology and automotive components [3] - Hisense is dedicated to providing smart home solutions and has established a global strategy centered on user experience and appliance intelligence [4] - TCL has been expanding its overseas market presence while advancing product sophistication and digital management [4] Group 3: Technological Innovation - Sanhua Intelligent Controls has increased its R&D investment to 7.05 billion yuan in the first half of 2025, accounting for 4.34% of its revenue, and holds 4,387 patents [5] - Hisense Home Appliances focuses on smart, healthy, and energy-efficient innovations, with multiple leading products in air conditioning and refrigeration [5] - TCL Smart Home has invested 5.17 billion yuan in R&D in the first three quarters of 2025, representing 3.61% of its revenue, and has over 2,000 patents [6] Group 4: Shareholder Returns - Sanhua Intelligent Controls plans to distribute approximately 9.32 billion yuan in cash dividends for the 2024 fiscal year and has repurchased shares worth about 3.03 billion yuan [6][7] - Hisense Home Appliances has conducted share buybacks totaling 5.54 billion yuan and has increased its cash dividend payout ratio from 30% to 50% of net profit, with significant increases in dividends over the past two years [8] - The consumer sector leaders are demonstrating a systematic approach to enhancing long-term competitiveness and contributing to a stable capital market through the "Quality Return Dual Improvement" initiative [8]

Core Viewpoint - The Shenzhen Stock Exchange has launched the "Quality and Return Dual Improvement" initiative to enhance the quality and investment value of listed companies, thereby strengthening the stability of the capital market [1] Group 1: Company Performance - By the end of 2025, 472 companies have released action plans focusing on core business, innovation, and investor returns [1] - Sanhua Intelligent Control Co., Ltd. (002050) expects a net profit of 3.874 billion to 4.649 billion yuan in 2025, representing a year-on-year growth of 25% to 50% [2] - Hisense Home Appliances (000921) achieved operating revenue of 71.533 billion yuan and a net profit of 2.812 billion yuan in the first three quarters of 2025 [2] - TCL Smart Home (002668) reported operating revenue of 14.346 billion yuan, a year-on-year increase of 2.87%, and a net profit of 977 million yuan, up 18.45% [3] Group 2: Technological Innovation - Sanhua Intelligent Control increased R&D investment to 705 million yuan in the first half of 2025, accounting for 4.34% of operating revenue [4] - TCL Smart Home invested 517 million yuan in R&D in the first three quarters of 2025, representing 3.61% of operating revenue [4] - Hisense Home Appliances focuses on technological innovation in smart, healthy, and energy-saving directions, establishing over 20 technology innovation platforms [5] Group 3: Investor Returns - Sanhua Intelligent Control plans to distribute a cash dividend of 932 million yuan for the 2024 fiscal year and has repurchased 7.1501 million shares for approximately 303 million yuan [7] - Hisense Home Appliances increased its cash dividend payout ratio from 30% to 50% of net profit in 2022, with cumulative dividends reaching 6.751 billion yuan over the past decade [8] - The practices of Sanhua Intelligent Control, Hisense Home Appliances, and TCL Smart Home serve as benchmarks for other companies in the Shenzhen market to enhance quality and returns [8]

Market Overview - The white goods sector experienced a decline of 0.43% on January 27, with Aucma leading the drop [1] - The Shanghai Composite Index closed at 4139.9, up 0.18%, while the Shenzhen Component Index closed at 14329.91, up 0.09% [1] Individual Stock Performance - Major stocks in the white goods sector showed varied performance, with the following notable changes: - Deep Kangjia A: Closed at 5.09, up 0.59% with a trading volume of 271,900 shares and a turnover of 137 million yuan [1] - Midea Group: Closed at 76.10, down 0.33% with a trading volume of 325,800 shares and a turnover of 2.494 billion yuan [1] - Gree Electric: Closed at 38.91, down 0.41% with a trading volume of 461,200 shares and a turnover of 1.803 billion yuan [1] - Aucma: Closed at 7.82, down 4.52% with a trading volume of 311,400 shares and a turnover of 243 million yuan [1] Capital Flow Analysis - The white goods sector saw a net outflow of 175 million yuan from institutional investors and 115 million yuan from retail investors, while retail investors had a net inflow of 290 million yuan [1] - Specific capital flows for key stocks include: - Haier Smart Home: Net outflow of 57.376 million yuan from institutional investors [2] - Aucma: Net inflow of 11.4137 million yuan from institutional investors [2] - Midea Group: Net outflow of 1.9489 million yuan from institutional investors [2]

Core Viewpoint - TCL Smart Home (002668) is involved in a legal dispute with Gao Rong Capital regarding equity transfer payments, with a recent court ruling requiring the company to pay 23.52 million yuan and associated late fees, potentially impacting profits by approximately 27 million yuan [1][7]. Group 1: Legal Proceedings - The recent court ruling mandates TCL Smart Home to pay Gao Rong Capital 23.52 million yuan plus late fees within ten days of the judgment becoming effective [1][7]. - The court dismissed other claims made by Gao Rong Capital in this case [1][7]. - In a separate case, TCL Smart Home, as the plaintiff, sought the return of 159 million yuan in equity transfer payments from Gao Rong Capital and Zhao Guodong, but the court upheld the previous ruling against the company [4][6]. Group 2: Financial Impact - If the recent ruling is upheld, TCL Smart Home estimates a reduction in profits by approximately 27 million yuan [1][7]. - The company reported a revenue of 14.346 billion yuan for the first three quarters of 2025, reflecting a year-on-year growth of 2.87%, and a net profit of 977 million yuan, which is an 18.45% increase year-on-year [7]. Group 3: Background Information - The disputes trace back to 2015 when Gao Rong Capital invested 20 million yuan in Zhongrongjin (now Beijing Haorong Technology Co., Ltd.), acquiring a 5% stake [5]. - Gao Rong Capital later sold a 51% stake in Zhongrongjin to Guangdong Aoma Electric Co., Ltd. (now TCL Smart Home) for 612 million yuan, with the value of the shares increasing nearly fivefold within five months [5].

证券代码:002668 证券简称:TCL智家 == 公告编号:2026-002 广东 TCL 智慧家申股份有限公司 关于公司与高榕资本的股权转让纠纷 暨重大诉讼的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚 假记载、误导性陈述或重大遗漏。 特别提示: 案件一:公司为原告,高榕资本及赵国栋为被告,公司请求判令高榕资本返 还股权转让款本金及利息158,581,174.51元,请求判令赵国栋承担连带责任。2025 年 12月 30 日,公司收到广东高院二审判决:驳回公司上诉请求,维持原判。案 件一不会对公司本期利润或期后利润产生影响。 案件二:公司为被告,高榕资本为原告,高榕资本请求判令公司支付剩余股 权转让款及滞纳金 55,048,515.06元。近日,公司收到南山法院一审判决:公司 于判决生效十日内向高榕资本支付股权转让款 23,519,980.80 元及滞纳金,驳回 高榕资本其他诉讼请求。若案件二一审判决生效,初步估算预计减少公司利润约 2,700 万元。 一、诉讼的基本情况 (一) 事实情况 2015 年 3 月,赵国栋成为中融金(北京)科技有限公司（已更名为"北京 题融科技有 ...

Market Overview - The white goods sector experienced a slight decline of 0.09% on January 22, with Deep Konka A leading the drop [1] - The Shanghai Composite Index closed at 4122.58, up 0.14%, while the Shenzhen Component Index closed at 14327.05, up 0.5% [1] Individual Stock Performance - Aokema (600336) saw a significant increase of 7.46%, closing at 8.64 with a trading volume of 529,300 shares and a turnover of 452 million yuan [1] - Whirlpool (600983) and Xueqi Electric (001387) also reported modest gains of 1.11% and 1.08%, respectively [1] - Gree Electric (000651) and Hisense Home Appliances (000921) had minimal changes, with Gree Electric up 0.20% and Hisense up 0.12% [1] - Midea Group (000333) experienced a slight decline of 0.37%, closing at 77.49 with a trading volume of 344,000 shares and a turnover of 2.673 billion yuan [1] Capital Flow Analysis - The white goods sector saw a net inflow of 514 million yuan from institutional investors, while retail investors contributed a net inflow of 41.26 million yuan [1] - However, speculative funds experienced a net outflow of 555 million yuan [1] Detailed Capital Flow for Key Stocks - Midea Group had a net inflow of 47.4 million yuan from institutional investors, but a net outflow of 48.3 million yuan from speculative funds [2] - Gree Electric reported a net inflow of 74.51 million yuan from institutional investors, with a net outflow of 101 million yuan from speculative funds [2] - Haier Smart Home (600690) had a net inflow of 47.07 million yuan from institutional investors, while retail investors saw a net outflow of 60.53 million yuan [2] - Deep Konka A experienced a net outflow of 32.93 million yuan from institutional investors, but a net inflow of 24.88 million yuan from retail investors [2]

Core Viewpoint - The white goods sector experienced a rise of 1.72% on January 20, led by Whirlpool, while the overall market indices showed slight declines [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 4113.65, down 0.01% [1]. - The Shenzhen Component Index closed at 14155.63, down 0.97% [1]. - The white goods sector saw a net inflow of 844 million yuan from main funds, while retail investors experienced a net outflow of 378 million yuan [1]. Group 2: Individual Stock Performance - Whirlpool (600983) closed at 10.91 yuan, up 3.02%, with a trading volume of 108,100 hands and a transaction value of 116 million yuan [1]. - Gree Electric (000651) closed at 41.28 yuan, up 1.85%, with a trading volume of 906,400 hands and a transaction value of 3.72 billion yuan [1]. - Midea Group (000333) closed at 79.00 yuan, up 1.78%, with a trading volume of 455,400 hands and a transaction value of 3.58 billion yuan [1]. - Haier Smart Home (600690) closed at 26.38 yuan, up 1.70%, with a trading volume of 654,200 hands and a transaction value of 1.71 billion yuan [1]. - Hisense Home Appliances (000921) closed at 24.87 yuan, up 0.85%, with a trading volume of 142,900 hands and a transaction value of 355 million yuan [1]. Group 3: Fund Flow Analysis - Gree Electric saw a main fund net inflow of 4.26 billion yuan, while retail investors had a net outflow of 2.02 billion yuan [2]. - Midea Group had a main fund net inflow of 4.05 billion yuan, with retail investors experiencing a net outflow of 793.78 million yuan [2]. - Haier Smart Home recorded a main fund net inflow of 1.16 billion yuan, while retail investors had a net outflow of 1.58 billion yuan [2]. - Hisense Home Appliances faced a net outflow of 441.9 million yuan from main funds, but retail investors had a net inflow of 258.89 million yuan [2].