刷到一条又一条"沉浸式冰箱收纳"的视频，不少人感叹：要是家里冰箱也能像博主家的那样就好 了。 人们对冰箱不再仅仅停留在"存放食物"的需求，而是更加关注健康、保鲜与智能体验。 8月22日播出的《海尔新声浪》冰箱专场，便以年轻大学生的视角切入，通过真实生活场景与创 意表达，呈现出消费者对冰箱的多样化需求，也让观众看到了海尔麦浪冰箱如何以科技解决生活 痛点。 这场"五进二"的晋级赛以"感味生活"为主题，选手通过视觉、味觉、听觉、触觉、嗅觉这"五 感"与观众对话，将海尔冰箱的核⼼科技功能转化为可感知、可共情、可传播的情感叙事。 01 谁来为冰箱发声？ 冰箱，从来不止是冰冷的生活工具，更像一个沉默的情感容器，承载着人类的温情与文明的印 记，塞满的不是冰箱而是父母对你的牵挂。 想必很多人都有这样的记忆：小时候家里那台老冰箱，用了许多年，即便早已到了报废的年 纪，却依旧被视为家庭的一员，谁也舍不得丢弃。 这台带着岁月痕迹的"老古董"，肚子里藏着的何止是冰镇的汽水与水果，那是一整个闪闪发光 的童年，更是长辈们未曾言说、却细水长流的爱。 可面对家中这台承载回忆的老冰箱，每个人心里大抵都藏着些复杂的滋味。 老人节俭惯了，剩饭剩菜 ...

Core Viewpoint - The "Read the Sea and Explore the World" charity summer camp, initiated by Hisense Refrigerator, has successfully supported nearly 500 students from mountainous areas over the past decade, expanding their horizons and providing educational opportunities [1][3]. Group 1: Project Overview - The charity summer camp project began in 2016, starting with the construction of the Beichuan Hisense Chenjiaba Primary School, and has since reached over 40 schools across more than 10 provinces including Sichuan, Yunnan, and Guizhou [3]. - The program follows the philosophy of "going out and inviting in," creating a bridge for public welfare between mountainous regions and coastal areas [3]. - The initiative has organized diverse classes combining "ocean exploration, technology experience, and cultural heritage," allowing students to gain broader knowledge [3]. Group 2: Impact and Future Plans - The project aims to open a window of understanding for children from mountainous areas, addressing their curiosity about the outside world [3]. - Among the first participants, 32 students have successfully entered university, showcasing the program's positive impact on their educational journeys [3]. - Hisense Refrigerator has signed a special cooperation agreement with the Law School of Qingdao University of Science and Technology to provide professional support for the protection of minors, enhancing the project's scope [3]. - The marketing president of Hisense Refrigerator emphasized that educational charity is a core direction for practicing ESG principles, with plans to gather more social forces to expand the reach of their public welfare initiatives [3].

Core Viewpoint - TCL Smart Home has filed a lawsuit against its subsidiary, Guangdong Oma Refrigerator Co., Ltd., seeking to invalidate certain provisions of the company's articles of association, which TCL believes restricts the legitimate rights of the controlling shareholder and is detrimental to the long-term development of Oma Refrigerator [1][5]. Group 1: Lawsuit Details - The lawsuit was submitted to the Zhongshan Second People's Court of Guangdong Province in June 2025 and has been accepted by the court [1][5]. - The specific provisions in question relate to the election and replacement of directors not representing employees, which require a special resolution when there is a change in the actual control of the listed company [1][5]. - The lawsuit does not involve any monetary claims and is currently in the preliminary stage, with no impact on the company's current or future profits [4][5]. Group 2: Parties Involved - The plaintiff in the case is TCL Smart Home, while the defendant is Guangdong Oma Refrigerator Co., Ltd. [6]. - The case is being handled by the Zhongshan Second People's Court of Guangdong Province [6].

Core Viewpoint - The new national standard for household refrigerators, effective from June 1, 2026, aims to enhance energy efficiency and practicality, significantly reducing energy consumption and increasing usable space in refrigerators [1][4][5]. Energy Efficiency Standards - The new energy efficiency labeling system categorizes refrigerators into five levels, with Level 1 being the most energy-efficient and representing international leading standards [2][3]. - The updated standards increase the energy consumption limits for each efficiency level by approximately 30% to 40%, allowing for significant energy savings for consumers [4]. Energy Savings Potential - A 500-liter refrigerator under the new standard will require 0.55 kWh/day, a 40% reduction from the current requirement of 0.92 kWh/day, leading to annual savings of about 135 kWh and approximately 68 yuan in electricity costs [4]. - With an estimated annual sales volume of 60 million refrigerators, the new standards could result in an annual energy saving of 13 billion kWh, equivalent to the power generation of the Three Gorges Dam for one and a half months [4]. Usable Space Improvement - The new standard introduces a volume utilization rate, allowing for a 10% to 30% increase in usable space within the same external dimensions of the refrigerator [5]. - For a 500-liter refrigerator, this could translate to an additional 50 to 100 liters of usable space, achieved through technological innovations in insulation materials and component miniaturization [5]. Smart Grid Interaction - The new standard includes provisions for smart grid signal response capabilities, enabling refrigerators to interact with the power grid [7]. - This feature allows refrigerators to adjust their operation based on grid load, potentially saving users over 5% on electricity costs while also alleviating pressure on the power grid [7]. Inclusion of Small Refrigerators - The new standard expands its scope to include small refrigerators, such as portable units with a capacity of 60 liters or less, which are increasingly popular [8]. - The inclusion of these small refrigerators in the energy management system is expected to accelerate energy-saving technology upgrades in the industry, leading to an estimated annual energy saving of 600 million kWh [8].

Core Viewpoint - The investigation reveals that many refrigerator brands claim to have "pesticide removal" functions, but the actual product descriptions often emphasize "high-efficiency sterilization," leading to consumer confusion [1][2]. Group 1: Product Claims and Consumer Confusion - Approximately 80% of refrigerators priced between 10,000 to 20,000 yuan claim to have pesticide removal capabilities, with some lower-priced models also making similar claims [1]. - A specific model priced at 18,999 yuan claims to remove over 90% of pesticide residues and has a stated sterilization rate of 99.999% for bacteria and viruses, yet no verification reports were provided when requested [1]. - The product description on the brand's official website focuses on the removal of bacteria and viruses, without mentioning the pesticide removal feature [1]. Group 2: Industry Standards and Verification - There is a lack of unified technical standards and testing certifications for the "pesticide removal" function in the refrigerator industry, as revealed by a manager from a major appliance chain [2]. - Customer service representatives from two online flagship stores confirmed that the core functions of the refrigerators are "high-efficiency sterilization" and "deodorization," explicitly stating that they do not possess pesticide removal capabilities [2]. Group 3: Expert Recommendations - An expert from the Chinese Academy of Agricultural Sciences suggests that consumers can effectively remove surface pesticide residues by rinsing fruits and vegetables with running water and soaking them for about 30 minutes [3].

Group 1 - The board of directors of Changhong Meiling Co., Ltd. approved the investment of 877.05 million RMB for the construction of the Hefei Changhong Smart Home Appliance Industrial Park project to enhance the production capacity of large-capacity refrigerators and improve smart manufacturing levels [1][2] - The project aims to create a flexible, intelligent, and green smart home appliance industrial park, aligning with the company's long-term strategic development needs [1][2] - The investment exceeds 10% of the company's latest audited net assets, requiring approval from the shareholders' meeting [2] Group 2 - The board approved the application for a maximum credit limit of 120 million RMB from China Merchants Bank for a one-year term, covering various financing products [3] - The board also approved credit applications from multiple banks, including 700 million RMB from CITIC Bank, 500 million RMB from Huaxia Bank, 400 million RMB from Jiujiang Bank, 670 million RMB from Bank of China, 1 billion RMB from China Everbright Bank, and 550 million RMB from Shanghai Pudong Development Bank, all with a one-year term [4][5][6] - All credit applications were unanimously approved by the board with 9 votes in favor and no opposition [2][3][4][5][6]

Summary of TCL Smart Home Conference Call Industry and Company Overview - The conference call focuses on TCL Smart Home, a leading player in the refrigerator OEM market, with an export share of approximately 25% to 30% in China [4] - The company is experiencing significant growth in emerging markets, where the low penetration rate of refrigerators presents substantial growth potential [7] Key Insights and Arguments - **Underestimated Overseas Business**: TCL's overseas business, particularly in Europe, is undervalued. Despite challenges in maintaining high export rates in 2024, the likelihood of negative growth in refrigerator exports to Europe is low due to insufficient industrial production in Europe and increased reliance on Chinese refrigerators [2][5] - **Emerging Markets as Growth Drivers**: The low refrigerator penetration in emerging markets, coupled with economic development and rising purchasing power, is expected to drive demand for home appliances, becoming a crucial factor for future performance [7] - **Ouma Refrigerator Growth**: Ouma's growth is attributed to the shift from OEM to self-branded orders and the competitive edge of Chinese brands in emerging markets, filling local gaps [2][8] - **Tariff Challenges in the U.S.**: TCL faces significant tariff-related cost challenges in the U.S. market, where production costs are notably higher than in other regions. However, the company's revenue from the U.S. is relatively low, minimizing the overall impact on financial performance [4][9] - **Verification of Expectations**: Key indicators for verifying TCL's performance expectations include customs data and company results. Continued stability or growth in Europe and emerging markets, along with sustained outperformance in company results, will support current conclusions [10] Financial Projections - **Profit Forecast**: TCL is projected to achieve a profit of approximately 1.15 billion yuan in 2025, with a current valuation of less than 10 times earnings, indicating potential for further stock price appreciation [2][11] - **Market Conditions**: Short-term industry competition and cost pressures may rise, particularly if U.S. production capacity remains underutilized and Chinese overcapacity leads to deflation, potentially impacting European operations [3][11] Additional Important Points - **European Market Dynamics**: The European market has seen a recovery in energy prices, but industrial production confidence remains low, which may affect future performance [5][6] - **Competitive Landscape**: The competitive landscape in emerging markets is shifting, with Chinese brands gaining strength and reducing reliance on local manufacturers for production [8] This summary encapsulates the critical insights from the TCL Smart Home conference call, highlighting the company's strategic positioning, market challenges, and growth opportunities.