Core Viewpoint - Hisense has become the first official VAR display partner for the 2025 FIFA Club World Cup, marking a significant milestone for Chinese display technology on the global sports stage, supported by its 56.71% market share in the 100-inch TV segment as of Q1 2025 [1]. Group 1: Technological Innovation - Hisense has pioneered RGB three-dimensional color control technology, surpassing traditional backlight methods, and has set new benchmarks in DCI-P3 color gamut coverage and peak brightness [3]. - The company has established a comprehensive technology matrix that includes Mini LED, laser TVs, and MicroLED, allowing for modular customization and a wide range of products [3]. Group 2: User Experience Enhancement - Hisense aims to not only manufacture 100-inch TVs but also to provide the best picture quality and user experience, leading to significant sales growth in markets like Germany through localized product strategies [8]. - The company has integrated AI technology to enhance viewing experiences, such as real-time optimization for sports and improved visual angles for movie enthusiasts [8]. Group 3: Global Presence and Strategy - Hisense's global reach is evidenced by its technology support for the FIFA event in Miami, laser TV experience zones in Dubai, and high-end ULED X series in Paris, showcasing its "R&D-manufacturing-marketing" global system [11]. - The company has transformed the perception of 100-inch TVs from luxury items to standard configurations in 310,000 households globally, reflecting a significant shift in consumer behavior and industrial innovation [13].

Core Viewpoint - The strategic partnership between Hisense Group and Midea Group marks a significant shift from competition to collaboration, driven by the opportunities presented by the AI era and global technological innovations [2][6]. Group 1: Strategic Cooperation - Hisense and Midea will engage in comprehensive strategic cooperation across multiple fields, including AI applications, advanced global manufacturing, and smart logistics [3][4]. - The collaboration aims to leverage resource sharing, mutual benefits, and collaborative innovation to enhance user experience and empower ecosystem partners [4][6]. Group 2: Market Context and Rationale - The partnership is seen as a response to the rapid advancements in global innovation technologies, particularly in AIGC, which present new opportunities for the home appliance industry [6]. - Both companies will focus on digitalization and AI application platform development, enhancing operational capabilities and integrating AI across various business scenarios [6][9]. Group 3: Financial Performance and R&D Investment - In 2024, Hisense Group reported a revenue of 215.3 billion yuan, a 6.5% increase year-on-year, with overseas revenue accounting for 46.3% of total revenue [9]. - Midea Group's revenue for the same year reached 409.08 billion yuan, reflecting a 9.47% growth, with overseas market revenue constituting 41.52% of total revenue [9]. - Combined, both companies' revenues exceeded 620 billion yuan, with total R&D investments surpassing 26.2 billion yuan [10].