继上周五普跌后，今日（3.31）港股再现回调走势，科技股领衔跌幅榜，恒生科技ETF基金（513260）盘中跌2.01%，成交额已超5亿元，溢价率高达 0.34%，反映资金或持续乐观！资金近期逢跌增仓，近5日恒生科技ETF基金（513260）净流入超4.5亿元！ 两融资金亦重手增仓。仍以主流低费率的恒生科技ETF基金（513260）为例，基金最新融资余额超1.2亿元，刷新纳入两融标的以来新高！ 恒生科技ETF基金（513260）标的指数成分股多数回调：家电业绩公布，美的集团绩后逆市涨超4%，海尔智家绩后涨超1%。其他热门股普遍回调，小米集 团、阿里巴巴跌超3%，腾讯控股、中芯国际跌超2%，美团跌超1%。 消息面上，近期家电板块迎业绩利好。据美的集团28日晚间公布的年报，2024年净利润385.39亿元，同比增长14.3%。实现收入4091亿元，同比增长9.5%， 其中智能家居业务实现收入2695亿元，同比增长9.4%。此外，海尔智家27日发布了2024财年业绩。期内营业收入达2859.81亿元，同比增长4.29%；经营利润 达到202.2亿元，同比增长15.8%。归属于上市公司股东的净利润为187.4亿元，增长 ...

公司事件 海尔智家发布2024 年报：2024Q4 实现营收830.10 亿元，同比+9.88%，实现归属净利润35.87 亿元，同 比+3.96%，扣非净利润31.20 亿元，同比+0.52%；2024A 实现营收2859.81 亿元，同比+4.29%，归属净 利润187.41 亿元，同比+12.92%，扣非净利润178.05 亿元，同比+12.52%；拟每10 股派现9.65 元（含 税），总额89.97亿元（含税），分红率48%。公司拟于自3 月27 日起12 个月内以10-20 亿元回购股份， 价格不超40 元/股，对应当前股价约0.4-0.7 亿股，占总股本0.4%-0.8%。 国内表现强劲，海外稳健增长 2024Q4 海尔收入同比+10%，2024Q2/Q3 分别同比+0.1%/+0.5%，受益国内以旧换新政策及开利制冷并 表，公司Q4 主营提速明显。内销方面，据产业在线，海尔Q4 冰箱/洗衣机/空调出货量分别同比 +10%/+8%/+29%，政策拉动出货，产品结构好转，卡萨帝Q4 收入同比+30%，表现抢眼，全年零售 +12%。2024A 海尔海外收入同比+5%，其中H1/H2 分别同比+4%/ ...

Group 1: Institutional Research and Market Performance - Last week, from March 24 to 28, institutional research enthusiasm surged, with 150 listed companies disclosing research summaries by March 28, including companies like Sanhua Intelligent Control and Jinzai Food receiving over 100 institutional inquiries [1] - The performance of stocks under institutional research was generally poor, with only over 30% of companies achieving positive returns, while companies like Yizhi Magic Yam and Xiaogoods City saw increases of over 10% [1] - The chemical sector showed notable performance, with over 10 listed companies receiving institutional inquiries, particularly Yun Tianhua and Satellite Chemical, each hosting around 140 institutional visits [1] Group 2: Chemical Industry Insights - Yun Tianhua, primarily engaged in the phosphate industry, reported a cumulative increase of over 5% last week, with a maximum increase of 9% during the week, attributed to stable domestic market conditions for diammonium phosphate and rising prices for monoammonium phosphate due to sulfur price fluctuations and increased fertilizer demand [1][2] - The international phosphate fertilizer prices remain high due to cost support and tight supply-demand dynamics [1] - Yun Tianhua noted that last year's price increase for industrial-grade monoammonium phosphate was driven by increased planting areas and improved fertilization techniques, indicating a favorable market outlook for this product [2] Group 3: Fertilizer and Chemical Production - Cloud Map Holdings, focusing on compound fertilizers, indicated strong future demand for monoammonium phosphate, particularly in the industrial sector, supported by high upstream prices for phosphate rock and sulfur [3] - The company emphasized its control over raw material production capacity and plans for a 700,000-ton synthetic ammonia project to ensure stable supply and self-sufficiency in nitrogen fertilizer raw materials [4] Group 4: Engineering Machinery Market Outlook - Zoomlion Heavy Industry, after disclosing its financial report, received inquiries from 120 institutions, stating that the domestic engineering machinery market has declined for three consecutive years and is likely at the bottom, with expectations for gradual recovery by 2025 [8] - The company plans to accelerate international market expansion and develop high-margin products in sectors like earthmoving machinery and industrial vehicles, which will enhance its gross margin [9] Group 5: Agricultural Products and Food Processing - China’s largest agricultural and food processing company, Jinlongyu, expressed increasing confidence in the economic outlook, which is expected to boost consumer demand [10] - The company analyzed that the abundant soybean harvest in South America and increased domestic soybean reserves would mitigate the impact of tariffs on soybean supply, predicting overall business improvement across various sectors this year [11] Group 6: Home Appliance Industry Trends - TCL Smart Home indicated that the continuation of the "old-for-new" policy and export growth would support stable growth in the overall Chinese home appliance market [13] - The company plans to enhance its global market position through increased R&D investment, optimized product structure, and strengthened brand competitiveness [14]

值得注意的是，海尔智家在技术创新方面也取得了显著成果。公司坚持自主研发，不断推出具有行业领 先水平的创新产品，如磁控冻鲜科技的冰箱、大筒径超薄技术的洗衣机等，赢得市场广泛好评。同时， 公司还积极布局智能家居领域，通过三翼鸟场景品牌，为用户提供定制化的智慧家庭解决方案，进一步 巩固了其在智慧家庭领域的领先地位。 在股东回报方面，海尔智家一直秉持着积极、开放、创新、专业的态度。此次拟定的每10股派发9.65元 的现金股利方案，不仅体现了公司对未来发展前景的乐观预期，也彰显了公司对股东价值的高度重视。 此外，公司还通过员工持股计划、股权激励等多种方式，进一步激发员工的积极性和创造力，为公司的 长远发展奠定坚实基础。 3月27日晚间，海尔智家（600690）股份有限公司（以下简称"海尔智家"，证券代码：600690）发布了 2024年年度报告。报告显示，2024年海尔智家实现营业收入2859.81亿元，同比增长4.29%；实现归母净 利润达到187.41亿元，同比增长12.92%；按中国会计准则下的扣除非经常性损益后的归母净利润达到 178.05亿元，同比增长12.52%。同时，海尔智家拟每10股派发现金红利9.65 ...

Core Viewpoint - Xiaomi is expanding its international presence by opening physical stores and promoting its product ecosystem, aiming to establish a significant retail footprint globally, particularly in East Asia and Southeast Asia [4][5][20]. Group 1: Expansion Strategy - Xiaomi has opened its first physical store, "Xiaomi Home," in Tokyo, Japan, with plans to open 5-10 more stores in Tokyo by the end of the year [2][4]. - The company aims to establish 10,000 "Xiaomi Home" stores worldwide by 2029, which is seen as a strategic move to create a global retail network [4]. - Xiaomi's strategy includes not only mobile phones but also home appliances and automotive retail, leveraging its successful domestic retail model for international markets [4][5]. Group 2: Market Penetration - Xiaomi's overseas revenue reached 153.3 billion yuan, accounting for 41.9% of total revenue by 2024 [4]. - The company is focusing on the East Asian and Southeast Asian markets, where there are significant opportunities in the home appliance sector [5][24]. - In Japan, Xiaomi's product offerings include over 160 items, primarily smartphones and small home appliances, with plans to introduce larger appliances like refrigerators and air conditioners later in the year [11][12]. Group 3: Competitive Landscape - Xiaomi faces strong competition in Japan from established brands like Apple, Sony, and Panasonic, which dominate the market [15][22]. - The company is leveraging its competitive advantages in product design and pricing to appeal to Japanese consumers, who are increasingly seeking value for money [15][21]. - In South Korea, Xiaomi's market share in smartphones is currently low, but it is focusing on small home appliances where it can fill a gap in the market [18][22]. Group 4: Future Outlook - Xiaomi plans to expand its automotive business internationally, with Europe as the first target market, aiming to integrate its "smart home" ecosystem with automotive offerings [25]. - The company is also looking to capitalize on the growing demand for smart home products in Southeast Asia, where the market is still in a consumption upgrade phase [24][25]. - Xiaomi's strategy includes educating younger consumers in Southeast Asia about its products, as the region presents a significant growth opportunity compared to more mature markets like Japan and Korea [25].

添可CEO冷泠：AI家电产品开发应遵循规律 当前，家电业积极拥抱人工智能，各大厂商竞相开发 AI家电产品。有关业内人士提醒，AI热潮涌 动之际，家电从业者更要科学理性，秉持用户思维、遵循客观规律进行AI家电产品开发，避免概念炒 作等短期行为。 "我认为，并非产品命名加上AI就是AI。"添可CEO冷泠提出，开发AI家电，首先应深入思考AI是 什么？到底能加持到产品中去做什么？解决用户什么样的痛点问题、带给用户什么样的体验？只有科学 回答上述问题，开发出成熟的产品，才能让用户真正接受，确保AI家电在市场上行稳致远。 根据添可对AI家电的基本理解，首先要有感知，能感知到用户想干什么；其次，一定要有思考判 断的逻辑推理能力；第三，要有执行能力，把用户的想法转变为执行。 在AWE2025上，添可展出重磅新品——具身烹饪大师"食万天工"，颇受观众关注。食万天工通过 联合豆包等行业领先大模型，共创"食万美味GPT"，实现了从"被动执行指令"到"主动理解意图"的跨越 式升级。用户只需通过自然语音交互，即可拥有AI定制菜谱；再结合"食万具身烹饪体"，能够全链仿生 大厨烹饪，从猛火灶头、10档控火到花式颠勺、8种调味，复刻大厨技 ...

Core Viewpoint - The article discusses the transformation of the home appliance industry towards AI integration, highlighting the shift from mere marketing gimmicks to practical applications of AI technology in products [4][8]. Group 1: AI Integration in Home Appliances - The current trend in "AI home appliances" can be summarized with two keywords: "scenario-based" and "non-intrusive" [4][5]. - Scenario-based AI applications allow appliances to monitor cooking states and provide real-time feedback, such as reminding users when to stir or adjust heat levels [4][11]. - Non-intrusive applications enable devices to operate independently without user intervention, such as smart locks that detect unusual activity and alert users [5][6]. Group 2: Innovations from Major Companies - Haier's "AI Eye" technology, showcased at the AWE 2025, integrates voice and visual recognition across various appliances, enhancing user experience by automating tasks like washing and cooking [10][11]. - Hisense's AI system covers air conditioning, laundry, and cooking, with innovations like adaptive sound and light adjustments based on user presence [17][19]. - Startups like MOVA are focusing on solving specific pain points, such as noise reduction in cleaning devices and intelligent floor cleaning solutions [20][22]. Group 3: Embodied Intelligence in Home Appliances - The concept of embodied intelligence is emerging in home appliances, with companies like Fotile showcasing robotic arms for cooking tasks [22][25]. - Haier is also exploring robotic arms for laundry, demonstrating potential for automation in household chores [26][30]. - The advancements in robotic technology indicate a future where embodied intelligence could become commonplace in home environments [31].

周云杰回复"安排"3天后，212集高清版《海尔兄弟》动画片短 暂上线又下线，本人更新视频回应"拍续集" 3月24日，212集高清版《海尔兄弟》动画片，在海尔周云杰抖音账号短暂上线，后又下线。 3天前的21日上午，海尔集团董事局主席、首席执行官周云杰发布了自己的第一条抖音视频。当时许多网友纷纷在评论区提建 议："周总，原版（海尔兄弟动画片）高清修复一下呗，想给我家小孩看。"周云杰在评论区回复网友表示："安排！" 海尔集团官网信息显示，自20世纪90年代初，海尔集团在发展的同时就不忘回报社会，尤其关注儿童最缺少的寓教于乐的精神 食粮，《海尔兄弟》就是专为儿童制作的一顿精美的精神食粮。《海尔兄弟》的制作历时8年、投资3000万元、画稿长度达1000 公里，是中国当时最长的动画片，曾获中国电视金鹰奖等荣誉，并被视为国产动画的里程碑。原版动画还曾登陆美国电视台， 成为首部海外签约的中国动画。 极目新闻记者注意到，上线的212集《海尔兄弟》动画片是最近三天连夜上传的，最晚一集是今天上午才上传。最后是今天早上 才全部显示出来，集数并未完全按顺序排列。 不过，24日上午9时许，记者看到212集动画片还在，约半小时后又不见了。 ...

Market Overview - The Hang Seng Index closed up 0.91%, reaching 23905.56 points, with a total trading volume of 233.1 billion HKD [1] - The Hang Seng Tech Index rose 1.72%, while the Hang Seng China Enterprises Index increased by 1.24% [1] - Market volatility may increase in April due to upcoming tariff issues and economic data releases, but the long-term outlook for Chinese assets remains positive [1] Blue-Chip Stocks Performance - CK Hutchison Holdings (00001) rebounded, closing up 4.16% at 45.05 HKD, contributing 7.98 points to the Hang Seng Index [2] - Haier Smart Home (06690) rose 6.02%, while Zijin Mining (02899) increased by 4.98% [2] - New Oriental Education (09901) fell 7.23%, negatively impacting the index [2] Sector Highlights Home Appliances - TCL Electronics (01070) surged 13.52% to 8.9 HKD, driven by strong earnings [3][4] - The home appliance sector saw significant sales growth, with nearly 9 million units sold under the trade-in program [4] - TCL reported a revenue of 99.322 billion HKD for 2024, a 25.7% increase, and a net profit of 1.759 billion HKD, up 136.6% [4] Non-Ferrous Metals - Luoyang Molybdenum (03993) rose 9.27% to 6.72 HKD, supported by rising copper prices [5] - International copper prices reached new highs, with COMEX copper futures hitting 5.1490 USD per pound [5] - Luoyang Molybdenum reported a revenue of 213.029 billion RMB, a 14.4% increase, and a net profit of 13.532 billion RMB, up 64% [6] New Energy Vehicles - New energy vehicle stocks saw gains, with Li Auto (02015) up 3.85% and XPeng Motors (09868) up 3.29% [6][7] - The retail market for passenger vehicles is projected to grow by 9.1% year-on-year in March, with new energy vehicles expected to reach 1 million units sold [7] Notable Stock Movements - Weichai Power (00856) saw a significant increase of 14.64% after reporting a revenue of 89.086 billion HKD, a 20.56% increase [8] - KANAT Optical (02276) rose 7.98%, benefiting from the growth of smart glasses in the AI+AR sector [9] - HAPO Pharmaceuticals (02142) gained 5.49% following a strategic partnership with AstraZeneca [10] - COSCO Shipping Holdings (01919) reported a revenue of 233.859 billion RMB, a 33.29% increase, and a net profit of 49.1 billion RMB, up 105.78% [11] - Brilliance China Automotive (01114) faced pressure, with a revenue decline of 2.3% and a net profit drop of 59.9% [12]

围绕用户的高品质生活需求，长虹还从众多生活场景展现AI技术带给消费者的贴心关怀。冰洗区 域，长虹美菱（000521）纯色系列新品高容全嵌冰箱——大白鲸冰箱， 60分钟即可AI急速制冰与超薄 平嵌的结构设计颇受观众关注。生活厨房区域，长虹厨卫携智能与美学一体的Al智慧集成烹饪中心和健 康的系统性"全屋热水&净饮"方案亮相。 智慧家居系统区域，长虹进一步展现了其家电协同服务的强大能力。长虹智慧家居系统以家电智控 和节能安全为核心，围绕家庭的个性化需求，整合了主动服务、节能、安全隐私和AI四大功能，为家 庭用户提供无感交互、全宅智能的解决方案。 长虹相关负责人表示，近年来，长虹通过与国际雪联顶级冰雪赛事合作，将"活力""时尚""洁 净""国际化"等内涵注入品牌印记。未来，长虹将继续以AI等创新科技为引擎，通过冰雪体育营销与中 国传统文化跨界塑造品牌张力，与全球用户共创智能时代美好生活新图景。 长虹家电全面AI化 近日，在上海举办的AWE2025上，长虹展示了家电全面AI化成果，以新产品、新科技、新场景、 新体验更好满足用户需求，拓展发展空间。 长虹电视发布首款治愈系AI TV——追光系列Q10Air，搭载了高定黑晶 ...