Industry Overview - The water purifier industry has shown significant growth since being included in the "national subsidy" program starting in early 2025, with retail sales reaching 6.37 billion yuan in Q1 2025, a year-on-year increase of 18.3%, and retail volume increasing by 6.9% [1][2] - The market for household water purifiers was relatively sluggish in the first eight months of the previous year, but the implementation of the "national subsidy" policy has rapidly returned the market to a growth trajectory [2] Market Trends - The focus of competition in the water purification industry is shifting towards enhancing product functionality, with an emphasis on health and smart features [1][2] - The demand for mineral water purifiers is emerging as a significant trend, with companies like Yunmi betting on this segment for their new product launches [2][3] Product Development - Yunmi's new product, the Kunlun 4 mineral water purifier, features a core component that purifies and mineralizes water, filtering out over 100 harmful substances while enriching it with six mineral elements [2] - The market share for online reverse osmosis (RO) mineral water purifiers reached 6.5% in 2024, up 2.8 percentage points year-on-year, while offline market share was 9%, up 4.2 percentage points [3] Future Outlook - The penetration rate of household water purification devices is still low, with approximately 31 units per 100 households, indicating significant growth potential in the market [4] - Yunmi plans to invest 3 billion yuan over the next decade to promote the transition to mineral water for household consumption [5]