Core Points - Haier Smart Home Co., Ltd. has received general authorization from its board to repurchase up to 10% of its issued H shares and 30% of its issued D shares [1] - The company will cancel the repurchased shares, leading to a corresponding reduction in its registered capital [1] - Creditors have the right to declare their claims starting from May 29, 2025, and must do so within specified timeframes [1][2] Summary by Sections Share Repurchase Authorization - The board of Haier Smart Home has been authorized to decide on the repurchase of up to 10% of the total issued H shares and 30% of the total issued D shares [1] - This decision was approved during the first D and H shareholders' meetings in May 2025 [1] Creditor Notification - Creditors can declare their claims from the announcement date, with a 30-day period for those receiving written notice and a 45-day period for others [1] - Claims must be supported by valid documentation proving the debt relationship [2] Claim Submission Process - Creditors must provide original and copies of relevant documents when declaring their claims [2] - Specific instructions are provided for both postal and fax submissions, including contact details and requirements for different types of creditors [2]

Core Points - Haier Smart Home Co., Ltd. will hold a performance briefing for the fiscal year 2024 and the first quarter of 2025 on June 4, 2025, from 15:00 to 16:00 [1][2] - The meeting will be conducted in an interactive online format via the Shanghai Stock Exchange Roadshow Center [2][3] - Key executives, including the Chairman, President, CFO, and Investor Relations Director, will participate in the meeting [2] Meeting Details - **Date and Time**: June 4, 2025, from 15:00 to 16:00 [1][2] - **Location**: Shanghai Stock Exchange Roadshow Center (website: https://roadshow.sseinfo.com/) [1][2] - **Participation Method**: Investors can log in to the Roadshow Center to participate and ask questions [2][3] Investor Engagement - Investors can submit questions via email (finance@haier.com) or through the Roadshow Center's pre-submission section until June 3, 2025, at 16:00 [1][3] - The company will address commonly asked questions during the briefing [2][3] Contact Information - **Department**: Securities Department of Haier Smart Home Co., Ltd. [3] - **Phone**: 0532-8893 1670 [3] - **Email**: finance@haier.com [3]

Group 1 - The 2025 FIFA Club World Cup is set to showcase Chinese elements, with notable participation from Chinese referee Fu Ming and player Zhou Tong, highlighting the growing influence of Chinese football [1] - Hisense will provide VAR technology support during the tournament, marking its continued involvement in major international sports events and showcasing China's display technology capabilities [1][2] - The integration of AI technology in sports viewing experiences is emphasized, with Hisense launching the AI Football Family Renewal Plan to enhance fan engagement and interaction [3] Group 2 - Hisense became the first official VAR display partner for the 2024 UEFA European Championship, demonstrating the rapid development and effectiveness of VAR technology in improving match officiating [2] - The 2024 UEFA European Championship saw VAR being triggered 26 times, with a significant reduction in average review time compared to the UEFA Champions League, enhancing the flow of the game [2] - Hisense has been involved in sports marketing for 17 years, focusing on deepening its engagement through technology and brand exposure, aiming to showcase Chinese brands on the global stage [2]

Core Viewpoint - Haier Smart Home Co., Ltd. held its first meeting of the 12th Board of Directors on May 28, 2025, where several key resolutions were passed regarding the election of board members and the appointment of executives [1][2][3][4]. Group 1: Board Elections - Li Huagang was elected as the Chairman of the Board, serving as the legal representative of the company for the term of the 12th Board [1]. - Gong Wei was elected as the Vice Chairman of the Board, with a term aligned with the 12th Board [2]. - Li Huagang was appointed as the Director of the Board's Strategic Committee, with other members including Wu Qi, Li Shipeng, Gong Wei, Qian Daqun, Kevin Nolan, and Wang Hua [2]. - Li Shipeng was elected as the Director of the Board's Nomination Committee, with members Wu Qi, Sun Danfeng, and Wang Keqin [2]. - Wang Keqin was appointed as the Director of the Board's Audit Committee, with members Yu Handu, Wang Hua, Wu Qi, and Li Shaohua [2][3]. Group 2: Executive Appointments - Li Huagang was appointed as the President of the company, with a term consistent with the 12th Board [3][4]. - The Board approved the appointment of several Vice Presidents and other senior executives, including James Qun Liu as Vice President responsible for capital market operations and company strategy [4]. - Sun Jiacheng was appointed as the Chief Financial Officer, with a term aligned with the 12th Board [4]. - Liu Xiaomei was appointed as the Board Secretary, and Liu Tao and Wu Zhixian were appointed as securities representatives for A and D shares, respectively [4].

Meeting Overview - The shareholder meeting was held on May 28, 2025, at Haier's R&D center in Qingdao [1] - A total of 2,049 A-share shareholders, 35 D-share shareholders, and 4 H-share shareholders attended the meeting [1] - A-share shareholders held 3,956,135,277 shares, accounting for 42.47% of the total shares [1] Voting Results - All resolutions presented at the meeting were approved without any objections [1][2] - The voting results showed that A-shares had a high approval rate of 99.9258%, D-shares 99.9352%, and H-shares 98.8970% [2][3] - The total votes cast amounted to 5,942,555,885, with an overall approval rate of 99.5993% [2] Shareholder Participation - A-shareholders represented the majority with 3,953,199,542 votes, while D-shareholders and H-shareholders contributed 115,883,081 and 1,873,473,262 votes respectively [2] - The participation rates for A, D, and H shares were 99.9253%, 99.9352%, and 98.8969% respectively [2][3] Resolutions Passed - The resolutions included the authorization to issue debt financing instruments and the general authorization for share buybacks [7][8] - The resolution for the company to repurchase up to 10% of its issued H shares was also approved with a 99.9329% approval rate [7] - The resolution for the company to repurchase up to 30% of its issued D shares was passed with a 99.6276% approval rate [7]

Report Industry Investment Rating - Not mentioned in the provided content Core Viewpoints - On Tuesday, the HC2510 contract decreased with increasing positions. The macro situation involves efforts in Europe and the US to avoid an escalation of the situation, and Germany hopes to avoid a tariff war. The supply - demand situation shows that the weekly hot - rolled coil production decreased by 63,000 tons for the second consecutive week, the capacity utilization rate fell below 80%, both factory and social inventories decreased, and the apparent demand decreased by 164,700 tons. On the raw material side, the second round of coke price cuts weakened cost support. Overall, the terminal demand for hot - rolled coils has strong resilience, but the black sector is weak, and there is a lack of confidence in the long - term. Technically, the 1 - hour MACD indicator of the HC2510 contract shows that DIFF and DEA are running below the 0 - axis. It is recommended to trade with a bearish bias in a volatile market and pay attention to risk control [2] Summary by Relevant Catalogs Futures Market - The closing price of the HC main contract is 3,111 yuan/ton, down 27 yuan; the position volume is 1,513,825 hands, up 42,818 hands; the net position of the top 20 in the HC contract is 121,272 hands, up 37,309 hands; the HC10 - 1 contract spread is - 9 yuan/ton, down 3 yuan; the HC warehouse receipt at the Shanghai Futures Exchange is 167,722 tons, down 13,109 tons; the HC2510 - RB2510 contract spread is 131 yuan/ton, down 3 yuan [2] 现货市场 - The price of 4.75 hot - rolled coils in Hangzhou is 3,220 yuan/ton, down 10 yuan; in Guangzhou is 3,260 yuan/ton, down 20 yuan; in Wuhan is 3,260 yuan/ton, down 10 yuan; in Tianjin is 3,150 yuan/ton, down 20 yuan. The basis of the HC main contract is 109 yuan/ton, up 17 yuan; the spread between Hangzhou hot - rolled coils and rebar is 100 yuan/ton, up 10 yuan [2] Upstream Situation - The price of 61.5% PB powder ore at Qingdao Port is 736 yuan/wet ton, down 13 yuan; the price of Hebei quasi - first - grade metallurgical coke is 1,450 yuan/ton, unchanged; the price of 6 - 8mm scrap steel in Tangshan is 2,225 yuan/ton, unchanged; the price of Hebei Q235 billet is 2,900 yuan/ton, down 20 yuan. The domestic iron ore port inventory is 139.8783 million tons, down 1.7826 million tons; the coke inventory of sample coking plants is 733,000 tons, up 80,500 tons; the coke inventory of sample steel mills is 6.609 million tons, down 26,200 tons; the Hebei billet inventory is 693,000 tons, down 52,100 tons [2] Industry Situation - The blast furnace operating rate of 247 steel mills is 83.67%, down 0.46 percentage points; the blast furnace capacity utilization rate is 91.3%, down 0.44 percentage points. The hot - rolled coil production of sample steel mills is 3.0568 million tons, down 63,000 tons; the capacity utilization rate of hot - rolled coils is 78.09%, down 1.60 percentage points. The hot - rolled coil factory inventory of sample steel mills is 769,200 tons, down 13,000 tons; the social inventory of hot - rolled coils in 33 cities is 2.6327 million tons, down 60,800 tons. The domestic crude steel production is 8.602 million tons, down 682,000 tons; the net export volume of steel is 994,000 tons, down 2,000 tons [2] Downstream Situation - The monthly automobile production is 2.6188 million vehicles, down 387,100 vehicles; the monthly automobile sales are 2.5896 million vehicles, down 325,900 vehicles. The monthly output of air conditioners is 30.833 million units, down 2.8789 million units; the monthly output of household refrigerators is 8.179 million units, down 1.2045 million units; the monthly output of household washing machines is 9.651 million units. In April, global new ship orders totaled 111 ships, 4.532855 million CGT, with Chinese shipyards receiving 55 ships, 2.601584 million CGT, accounting for 57.39% of the total [2] Industry News - On May 26, mainstream steel mills in Hebei and Tianjin proposed a second - round price cut for coke, with wet - quenched coke down 50 yuan/ton and dry - quenched coke down 55 yuan/ton, to be implemented at zero o'clock on May 28 [2]

Core Viewpoint - The article emphasizes the critical importance of supply chains in the context of geopolitical tensions and trade policies, particularly focusing on the need for Chinese companies to adapt their supply chain strategies to navigate new challenges and opportunities in global markets [4][7][10]. Group 1: Supply Chain Dynamics - The U.S. Customs has implemented a new "origin verification system" to prevent transshipment trade and tax evasion, requiring importers to provide detailed supply chain documentation [4]. - Many Chinese manufacturing companies are accelerating their overseas expansion to diversify and localize production in response to changing trade policies [4][10]. - The concept of "supply chain security" has become a priority, replacing the previous focus on cost and efficiency [6][7]. Group 2: Global Supply Chain Trends - The migration of supply chains is largely driven by external geopolitical pressures, with companies feeling compelled to relocate production to avoid tariffs and trade barriers [10][11]. - The competition for supply chain dominance is intensifying, with countries like Vietnam and India emerging as alternative manufacturing hubs [13][20]. - The article highlights that while some production is moving away from China, many Chinese companies are still involved in global supply chains, often maintaining ties with their original manufacturing bases [21][22]. Group 3: Strategic Recommendations - Chinese companies should enhance their autonomy within supply chains and focus on building strong relationships with supply chain partners to ensure stability and resilience [7][12]. - The article suggests that companies need to adapt to local supply chain networks and avoid over-reliance on "Chinese speed" in global operations [36][38]. - Mergers and acquisitions are presented as effective strategies for Chinese companies to enter and integrate into foreign markets [41][44]. Group 4: Challenges and Opportunities - The article discusses the challenges posed by rising labor costs and regulatory environments in foreign markets, which may hinder the competitiveness of Chinese firms [16][17]. - It also notes that while supply chain migration is a reality, it presents opportunities for Chinese companies to innovate and find new profit margins abroad [39][50]. - The need for a strategic approach to supply chain management is emphasized, particularly in light of the ongoing trade tensions and the evolving global economic landscape [49][51].

Core Viewpoint - The legal opinion letter from Beijing DHH Law Firm confirms that Hisense Home Appliances Group Co., Ltd. has obtained the necessary approvals for the repurchase and cancellation of part of its A-share restricted stock, in accordance with relevant laws and regulations [1][7]. Group 1: Approval and Authorization - The company has completed the necessary approval and authorization procedures for the repurchase and cancellation of restricted stocks, including resolutions from the board of directors, supervisory board, and shareholders' meetings [2][3][4]. - Independent non-executive directors have provided their consent and independent opinions regarding the related proposals [5][6]. Group 2: Repurchase and Cancellation Details - The repurchase is due to one incentive object leaving the company and 16 others having their positions adjusted, leading to a total of 393,600 shares being repurchased and canceled [7][8]. - The repurchase price for the restricted stocks is set at 5.157 yuan per share, and the total number of shares represents 1.55% of the total granted under the 2022 A-share incentive plan and 0.03% of the total share capital before cancellation [7][8]. Group 3: Implementation of Repurchase - The company has announced the repurchase on December 14, 2024, and confirmed that no creditors have requested debt repayment or guarantees within 45 days of the announcement [9]. - The repurchase has been verified by an accounting firm, and the necessary applications for cancellation have been submitted to the relevant authorities [9].

Group 1 - The company Hisense Home Appliances (000921) announced the repurchase and cancellation of 393,600 restricted shares, which accounts for 1.55% of the total restricted stock granted in 2022 [1] - The repurchased shares represent approximately 0.03% of the company's total share capital before the cancellation, with a repurchase price of 5.16 yuan per share [1] - A total of 17 incentive recipients were involved in this repurchase, with the total amount for the repurchase being 2.0298 million yuan [1] Group 2 - The cancellation of the shares has been completed on May 23, 2025, at the Shenzhen branch of China Securities Depository and Clearing Co., Ltd [1] - Following the cancellation, the company's total share capital remains unchanged at 1.386 billion shares [1]

Group 1 - The Fourth China-Central and Eastern European Countries Expo and International Consumer Goods Expo was held in Ningbo, Zhejiang Province from May 22 to 25, focusing on deepening economic and trade cooperation and promoting cultural exchanges [1] - The Guangdong delegation included over 140 representatives from nearly 70 enterprises and trade associations, aiming to help Guangdong enterprises expand domestic and international markets [1] - The Guangdong Pavilion showcased over 100 innovative products from more than 30 leading companies, covering strategic emerging fields such as smart manufacturing, electronic information, home appliances, and new energy vehicles [1] Group 2 - A special exhibition area for the "Guangdong Foreign Trade Transformation and Upgrading Base (Dongfeng Small Appliances)" was set up, demonstrating the integration of industrial clusters and cross-border e-commerce ecosystems [1] - During the expo, over 30 retail, e-commerce platforms, and import-export trade buyers were organized to visit and procure, enriching procurement channels and expanding market share [1] - On May 22, a Guangdong-Zhejiang (Ningbo) economic and trade exchange event attracted nearly 150 representatives from key enterprises and trade associations, showcasing industry development prospects and local business environments [2]