Group 1 - Dangbei will participate in Amazon Italy's Prime Big Deal Days from October 4 to 10, 2025, offering discounts of up to €300 on popular projectors [2] - The Dangbei DBOX02, a flagship 4K ALPD laser projector, is now priced at €1,199, down from €1,499, with a bonus gift of a free stand valued at €89 [3] - The Dangbei DBOX02 Pro, featuring HDR10+ and advanced image processing, is available for €1,019, reduced from €1,299 [4] Group 2 - The Dangbei MP1 Max, a next-gen Tri-Laser + LED 4K projector, is now priced at €1,699, down from €1,899, emphasizing its color precision with 110% BT.2020 coverage [5] - Lightweight options include the Dangbei Atom, now €629 (down from €739), and the Dangbei Freedo, priced at €419 (down from €499), both designed for portability and outdoor use [6] - Entry-level projectors like the Dangbei N2-White and N2 mini are available for €179 and €185 respectively, targeting first-time buyers with user-friendly features [7] Group 3 - Dangbei is recognized as a premium smart entertainment provider specializing in projectors, trusted by over 200 million users globally [8]

Core Insights - Dangbei, a leader in smart projection technology, is participating in Amazon France's Prime Big Deal Days from October 4 to 10, 2025, offering discounts of up to €300 on various projector models [2][7] Product Offerings - **Biggest Savings**: The Dangbei DBOX02, a 4K ALPD laser projector with 2450 ISO lumens, is now priced at €1,199, down from €1,499, with a bonus gift of a free stand valued at €89 [3] - **Flagship Home Cinema Projectors**: - The Dangbei DBOX02 Pro, featuring 2000 ISO lumens and HDR10+, is now €1,019, reduced by €280 from €1,299 - The Dangbei MP1 Max, an advanced Tri-Laser + LED 4K projector with 3100 ISO lumens, is now €1,699, down by €200 from €1,899 [4] - **Portable & Everyday Options**: - The Dangbei Atom, an ultra-slim laser projector with 1200 ISO lumens, is now €629, saving €110 from €739 - The Dangbei Freedo, a battery-ready portable projector with 450 ISO lumens, is now €419, down by €80 from €499 [5] - **Entry-Level Projectors**: - The Dangbei N2-White, a compact projector with 400 ISO lumens, is now €179, saving €70 from €249 - The Dangbei N2 mini, a native 1080p projector, is now €185, down by €34 from €219 [6] Company Overview - Dangbei is recognized as a premium provider of smart entertainment solutions, specializing in home and portable projectors, and is trusted by over 200 million users globally [8]

Core Insights - Dangbei, a leader in smart projection technology, will participate in Amazon Italy's Prime Big Deal Days from October 4 to 10, 2025, offering discounts of up to €300 on various projector models [3]. Product Offerings - **Biggest Savings**: - Dangbei DBOX02, a 4K ALPD laser projector with 2450 ISO lumens, is now priced at €1,199, down from €1,499, with a bonus gift of a free stand valued at €89 [4]. - **Flagship Home Cinema Projectors**: - Dangbei DBOX02 Pro, a 4K laser projector with HDR10+ and advanced image processing, is now €1,019, reduced from €1,299 [5]. - Dangbei MP1 Max, featuring next-gen Tri-Laser + LED technology and 3100 ISO lumens, is now €1,699, down from €1,899 [5]. - **Lightweight & Portable Options**: - Dangbei Atom, an ultra-slim laser projector with 1200 ISO lumens, is now €629, reduced from €739 [6]. - Dangbei Freedo, a battery-ready portable projector with 450 ISO lumens, is now €419, down from €499 [6]. - **Entry-Level Projectors**: - Dangbei N2-White, a compact projector with 400 ISO lumens, is now €179, down from €249 [7]. - Dangbei N2 mini, a native 1080p projector, is now €185, reduced from €219 [7]. Availability - All deals are exclusively available at the Dangbei Store on Amazon.it [8]. Company Overview - Dangbei is a premium smart entertainment provider specializing in projectors, trusted by over 200 million users globally, combining advanced technology with user-friendly design for enhanced visual and audio experiences [9].

Investment Rating - The report maintains a consistent sector preference, favoring sports brands, diversified retailers, dairy, beverages, and restaurants, while being less favorable towards apparel/footwear OEM, furniture, projectors, discretionary small kitchen appliances, jewelry, and non-super-premium spirits [11]. Core Insights - Consumption in China has shown signs of recovery, with retail sales growth improving to +4.6% year-over-year in 1Q25, and companies in the coverage reporting an average growth of 14% compared to 12% in 4Q24 [1]. - Despite the positive growth, companies remain cautious about the outlook due to ongoing volatility and external factors such as US-China tariff developments impacting consumer confidence [2][1]. - Margin performance in 1Q25 was mixed, with some companies benefiting from favorable raw material prices and cost control, while others faced risks from marketing investments and competition [1]. - Companies are generally maintaining disciplined pricing strategies and healthier inventory levels, although some categories like spirits and sportswear are experiencing challenges due to demand pressures [1]. - The impact of tariffs on earnings and consumer sentiment is significant, with companies cautious about the second half of 2025 amid uncertainties [2]. Summary by Sections Key Findings from 1Q25 Results - Retail sales growth improved to +4.6% year-over-year, with coverage companies reporting an average growth of 14% [1]. - Labor Day consumption growth accelerated, indicating a potential rebound in consumer spending [1]. Expectations for 2Q25 - Companies are cautious about the outlook for 2H25 due to tariff uncertainties, although those with market share gain opportunities may be more resilient [2]. Sector/Stock Preferences - Preferred sectors include sports brands, diversified retailers, dairy, beverages, and restaurants, while least preferred sectors include apparel/footwear OEM and furniture [11]. Macro Data Points - The report notes that macroeconomic data points are solid, but ongoing tariff developments and policy support need to be monitored [11]. Valuation Methodology - The report emphasizes the importance of understanding the valuation methodology and the potential risks associated with it [11].

Industry Overview - The projector industry has seen rapid development since 2016, driven by consumer-level penetration, new light source applications, and the expansion of online channels [1][17] - The COVID-19 pandemic significantly impacted the industry in 2020, causing fluctuations in shipment volumes [1][17] - As of 2023, the projector shipment volume in China is expected to grow annually, with an estimated total shipment of approximately 5.5 million units in 2024 and a projected 9.26 million units by 2028 [1][17] Market Structure - The projector market is primarily divided into home and commercial segments, with home projectors accounting for over 80% of the market share in 2024 [18] - The consumer base is becoming younger, leading to increased demand for smart home entertainment solutions [18] Industry Development History - The projector industry in China can be divided into three stages: the embryonic phase (1990-2000), the initial phase (2000-2010), and the rapid development phase (2010-present) [5] - The market for home projectors has grown significantly, with nearly 70% market share in 2022 [5] Industry Chain - The projector industry chain consists of three main segments: upstream (core components like chips and lenses), midstream (manufacturers), and downstream (end-user applications) [7][9] - Upstream suppliers include companies like Rockchip, Allwinner Technology, and Sony, while midstream manufacturers include companies like XGIMI and Fengmi [9] Key Companies - XGIMI Technology has established itself as a leading domestic brand, achieving full-chain self-research capabilities and strong sales performance [21][23] - Other notable companies in the industry include BenQ, Epson, Sony, and Panasonic, which dominate the commercial projector market [21] Market Trends - Online channels are becoming a significant sales avenue for projectors, shifting the consumer structure from B2B to B2C [27] - The consumer market is expected to continue growing, driven by the demand for high-quality home entertainment experiences [28] - New application scenarios, including automotive and AR/VR technologies, are emerging as growth points for the industry [30]