Di Yi Cai Jing·2026-01-28 07:31Core Viewpoint - The renewable energy business, including photovoltaic and energy storage, is gradually becoming a new growth point for leading companies that originated from the home appliance industry, but its scale and profitability still need improvement [1][3]. Group 1: Company Developments - Skyworth Group plans to delist and spin off its photovoltaic business, with expectations that its photovoltaic revenue will exceed that of its traditional TV business by 2025 [4]. - Midea Group has established a new energy division and launched its electric heavy truck charging pile business, aiming to integrate photovoltaic, energy storage, and charging solutions [5]. - TCL has begun investing in a new energy project to enhance its photovoltaic and battery business, following its acquisition of TCL Zhonghuan [6]. - Haier New Energy has secured over 1 billion yuan in Series B financing and aims to create an AI-driven energy internet ecosystem [6]. - Hisense Group is expanding its energy production and storage capabilities through acquisitions [7]. Group 2: Market Context and Challenges - The home appliance market is maturing, leading companies to pivot towards renewable energy as a "second growth curve" amid declining sales in traditional sectors [8]. - The Chinese home appliance retail market is projected to decline by 6.7% in 2026, highlighting the urgency for companies to diversify into renewable energy [8]. - The renewable energy sector is highly competitive, with companies facing challenges in profitability and market saturation [10][11]. Group 3: Future Outlook - Skyworth's future growth is expected to focus on overseas markets and energy storage solutions, with ongoing projects in Thailand and Italy [4]. - Midea's new energy business is projected to reach an annual revenue of around 10 billion yuan, but it still lags behind industry leaders [5]. - The competition in the energy storage market is shifting from hardware costs to operational capabilities, indicating that the next phase for home appliance companies in the renewable sector is just beginning [11].