Core Viewpoint - Hisense launched the world's largest and most advanced 116-inch RGB MiniLED TV in Dar es Salaam, Tanzania, showcasing its leadership in global technology and smart home solutions [1][2]. Group 1: Product Launch - The 116UX TV is the first large-sized television equipped with an RGB MiniLED backlight system, representing cutting-edge display technology [1]. - The TV features Hisense's seventh-generation self-developed image processing chip, Hi-View AI Engine X, which utilizes AI perception algorithms and 3D light color coordination to enhance color reproduction, brightness contrast, and energy efficiency [1]. Group 2: Strategic Goals - Hisense aims to become the number one home appliance brand in the Middle East and Africa by 2027, leveraging its advanced display and AI technologies to provide high-quality digital living experiences [1]. - The company emphasizes its commitment to long-term technological accumulation and continuous innovation to meet the needs of African users [1]. Group 3: Regional Development - Since entering the South African market in 1996, Hisense has established a manufacturing base in South Africa and plans to set up its first regional R&D center in Dubai by 2024 [2]. - Hisense's ConnectLife smart home platform integrates AI and IoT to enable interconnectivity among various home appliances, enhancing the smart living experience for African families [2]. Group 4: Corporate Philosophy - Hisense's approach in Africa focuses on a people-oriented strategy, emphasizing product quality, customer care, employee welfare, and social responsibility [2]. - The company aims to create shared value and benefit the Southern African society through its commitment to integrity and high-quality service [2].

Group 1 - Midea Group reported Q1 2025 revenue of 127.839 billion yuan, a year-on-year increase of 20.49%, and a net profit of 12.422 billion yuan, up 38% [4] - Midea's To B business continues to be a significant growth driver, with revenue from new energy and industrial technology reaching 11.1 billion yuan, a 45% increase year-on-year [4] - Haier Smart Home achieved Q1 2025 revenue of 79.12 billion yuan, a 10.06% year-on-year growth, and a net profit of 5.487 billion yuan, up 15.09% [5] Group 2 - Midea Group plans to spin off its subsidiary, Ande Intelligent Supply Chain Technology Co., Ltd., for a listing on the Hong Kong Stock Exchange [4] - Haier Smart Home's revenue from the Chinese market grew by 7.8%, with Casarte's revenue increasing by over 20% [5] - Haier Smart Home's gross margin improved by 0.1 percentage points to 25.4% in Q1 2025, with R&D expenses accounting for 4.2% of revenue [5] Group 3 - Haier Smart Home's new board candidates include Kevin Nolan, CEO of General Appliances, indicating a push towards globalization [6] - The company aims to expand its AI ecosystem investments, as reflected by the nomination of Wang Hua, co-founder of Innovation Works, as an independent director candidate [6]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [5]. Core Insights - The company has demonstrated stable growth in profitability, with a 13.81% year-on-year increase in revenue to 6.088 billion yuan and a 32.04% increase in net profit to 194 million yuan for the year 2024. The first quarter of 2025 also showed a 15.07% increase in revenue to 1.468 billion yuan and a 14.67% increase in net profit to 50 million yuan [2][5]. - The company's modified plastic business has seen a revenue increase of 15.39% to 5.936 billion yuan, accounting for 97.51% of total revenue, driven by increased sales volume [3]. - The company is focusing on high-value products such as long-chain nylon materials, PEEK, and PPS, with long-chain nylon revenue growing by 105.39% year-on-year, indicating a strategic shift towards emerging markets [4]. Financial Performance - The company’s revenue projections for 2025-2027 are 7.066 billion yuan, 8.335 billion yuan, and 10.081 billion yuan, respectively, with year-on-year growth rates of 16.08%, 17.95%, and 20.95% [5]. - The net profit forecasts for the same period are 250 million yuan, 318 million yuan, and 414 million yuan, with growth rates of 28.63%, 27.35%, and 30.13% [5]. - The company’s return on equity (ROE) is expected to improve from 10.69% in 2025 to 14.16% in 2027 [5]. Market Expansion - The company has successfully expanded into international markets, establishing a factory in Thailand and serving over 30 overseas clients, with overseas sales increasing by 178.39% year-on-year [3]. - The diversification into new fields such as consumer electronics and AI data servers is expected to create new growth opportunities [4].

Core Viewpoint - LG Electronics will terminate wireless firmware upgrades for its mobile devices on June 30, 2025, marking the end of its mobile phone services and support, following its exit from the smartphone market in 2021 [1][3]. Group 1: Company History and Market Position - LG Electronics began its mobile phone business in 1994 and became one of the top three global mobile brands in 2008, with a shipment volume of 100 million units that year [4]. - The company faced continuous losses in its mobile division starting from Q2 2015, accumulating losses of 5 trillion KRW (approximately 29.36 billion RMB) by Q4 2020, with a market share of only 1.5% [4]. Group 2: Transition and Future Focus - LG Electronics announced its exit from the smartphone market in April 2021, officially ceasing production and sales by July 31, 2021, due to long-term losses and intense market competition [3][4]. - The company is reallocating resources to growth areas such as electric vehicle components, smart home technology, artificial intelligence, and robotics as part of its transformation strategy [3]. Group 3: Current Business Performance - According to LG Electronics' 2024 financial report, the company achieved a record revenue of 87.73 trillion KRW (approximately 450.93 billion RMB) and an operating profit of 3.42 trillion KRW (approximately 17.57 billion RMB) [4]. - The home appliance division generated revenue of 33.2 trillion KRW (approximately 170.64 billion RMB), while the home entertainment division, including OLED TVs, generated 15.23 trillion KRW (approximately 78.28 billion RMB) [4]. Group 4: Market Share in Key Segments - In 2024, LG's OLED TV shipments reached 3.18 million units, capturing over 52.4% of the global market share [5]. - In the global power battery market for Q1 2024, LG Energy ranked third with a market share of 21.7%, following CATL and BYD [5].