智能家居行业双周报：政策引航AI+消费，助推智家行业发展

Investment Rating - The report gives a "Recommended" rating for the smart home industry [4][28]. Core Insights - The smart home industry is experiencing a development opportunity driven by technological innovation and supportive government policies. The integration of IoT, AI, machine learning, and big data is expanding the application boundaries and interaction depth of smart home devices. The fusion of generative AI with edge products is leading to a leap from single-device intelligence to system intelligence, creating a solid technological foundation for high-value innovative products and services [4][27][28]. Summary by Sections Market Review - In the past two weeks (February 2, 2025 - February 14, 2025), the Shanghai Composite Index rose by 2.96%, the Shenzhen Component Index by 5.84%, and the ChiNext Index by 7.34%. The smart home index increased by 6.72%, outperforming the Shanghai Composite by 3.77 percentage points and the Shenzhen Component by 0.88 percentage points, but underperforming the ChiNext by 0.62 percentage points. Year-to-date (January 1, 2025 - February 14, 2025), the smart home index rose by 9.87%, outperforming the Shanghai Composite by 10.02 percentage points [10][12][13]. Industry Policy Tracking - The Ministry of Commerce and five other departments issued a notice regarding the "renewal" of home decoration and kitchen and bathroom renovations for 2025, with local governments releasing implementation details. The State Council's executive meeting emphasized support for new consumption, promoting "AI + consumption" and health consumption [3][15][16]. Industry News Tracking - Amazon plans to unveil an upgraded version of Alexa on February 26, 2025. Apple is developing a home lamp-style robot. The company "居然智家" has integrated DeepSeek across its platforms to accelerate AI model development. Haier Group announced its ecosystem models are now connected to DeepSeek, and Hisense has become the first TV brand to integrate DeepSeek [4][17][20][22][24]. Investment Recommendations - The report suggests that the smart home industry is poised for rapid growth due to continuous technological innovation and strong government policy support. The "AI + consumption" model is expected to stimulate consumer potential and enhance the market, with smart homes being a significant beneficiary [4][27][28].