Hisense V.T.(SH:600060) Xin Hua Cai Jing·2025-12-03 03:20Core Insights - The domestic consumer market is transitioning from scale growth to value upgrading, with quality and high-end products becoming the core demands of family consumption [1] - The emergence of new display technologies, particularly RGB-Mini LED, is reshaping the high-end television market and setting new technical standards [1] Market Performance - In the offline market for high-end televisions priced above 20,000 yuan, RGB-Mini LED televisions accounted for 43.68% of sales revenue and 48.73% of sales volume during the W40 to W47 period, indicating a strong market presence [4] - Hisense has a dominant position in the RGB-Mini LED segment, with a sales revenue share of 93.35% and a sales volume share of 95.67% [4] - In the ultra-large size market (above 25,000 yuan and 98 inches), Hisense maintains a strong advantage with online and offline sales volume shares of 90.93% and 99.04%, respectively [4] Technological Advancements - RGB-Mini LED technology offers significant advantages over traditional LCDs by using RGB light source chips, allowing for direct color output and enhanced picture quality [6] - The technology includes precise color control, leading to exponential improvements in picture quality and is viewed as a promising direction for LCD display technology over the next decade [7] Product Launches and Global Expansion - Hisense launched the world's first RGB-Mini LED television in March and has since introduced flagship models that have gained significant market traction [9] - By Q3 2025, Hisense's RGB-Mini LED televisions are expected to be available in over 20 countries, with a quarterly shipment growth exceeding 300% [9] - The anticipated global demand for high-end televisions, particularly during major events like the World Cup and gaming releases in 2026, is expected to further solidify Hisense's market leadership [9] Competitive Edge - Hisense's competitive advantage stems from continuous technological breakthroughs, including the introduction of advanced AI picture quality chips and new multi-crystal RGB-Mini LED light source chips [10] - These innovations enhance color accuracy and stability while reducing energy consumption by over 40% compared to QD-OLED, positioning Hisense as a leader in the high-end display market [10]