Industry Overview - The domestic consumption market is transitioning from scale growth to value upgrading, with quality and high-end products becoming the core demands of household consumption [1] - New display technologies, particularly RGB-Mini LED, are emerging strongly this year, reshaping the high-end television market and setting new technical standards [1] Market Data - In the offline market for 85-inch televisions priced above 20,000 yuan, RGB-Mini LED televisions accounted for 43.68% of sales revenue and 48.73% of sales volume during the W40 to W47 period, indicating a significant market presence [1] - This data suggests that for every two high-end large-screen televisions sold, one is an RGB-Mini LED product, establishing its position as a mainstream high-end television format [1] Company Performance - Hisense demonstrates a dominant leadership in the RGB-Mini LED television segment, with an overall sales volume share of 95.67% and a sales revenue share of 93.35% during the W40 to W47 period [2] - In the ultra-large size market (above 98 inches and priced over 25,000 yuan), Hisense maintains a strong advantage, with both online and offline sales volume shares exceeding 90% [2] Technological Innovation - Hisense's RGB-Mini LED technology features significant advancements, utilizing RGB three-color light-emitting chips for direct color output, which enhances color precision and overall picture quality [2][3] - The company has introduced the "King Bomb Dual Chip" technology, which includes the H7 AI picture quality chip and a new generation of multi-crystal RGB-Mini LED chips, improving stability and energy efficiency while enhancing picture quality [3] Product Launches - Hisense launched the world's first RGB-Mini LED television, UX, in March, marking the beginning of a native color revolution [3] - The flagship models E8S Pro and U7S Pro, released in September, have accelerated the adoption of RGB-Mini LED technology, with E8S Pro topping e-commerce sales charts and U7S Pro quickly entering the top 20 best-selling models in offline channels [3]

Core Insights - The domestic consumer market is transitioning from scale growth to value upgrading, with quality and high-end products becoming the core demands of family consumption [1] - The emergence of new display technologies, particularly RGB-Mini LED, is reshaping the high-end television market and setting new technical standards [1] Market Performance - In the offline market for high-end televisions priced above 20,000 yuan, RGB-Mini LED televisions accounted for 43.68% of sales revenue and 48.73% of sales volume during the W40 to W47 period, indicating a strong market presence [4] - Hisense has a dominant position in the RGB-Mini LED segment, with a sales revenue share of 93.35% and a sales volume share of 95.67% [4] - In the ultra-large size market (above 25,000 yuan and 98 inches), Hisense maintains a strong advantage with online and offline sales volume shares of 90.93% and 99.04%, respectively [4] Technological Advancements - RGB-Mini LED technology offers significant advantages over traditional LCDs by using RGB light source chips, allowing for direct color output and enhanced picture quality [6] - The technology includes precise color control, leading to exponential improvements in picture quality and is viewed as a promising direction for LCD display technology over the next decade [7] Product Launches and Global Expansion - Hisense launched the world's first RGB-Mini LED television in March and has since introduced flagship models that have gained significant market traction [9] - By Q3 2025, Hisense's RGB-Mini LED televisions are expected to be available in over 20 countries, with a quarterly shipment growth exceeding 300% [9] - The anticipated global demand for high-end televisions, particularly during major events like the World Cup and gaming releases in 2026, is expected to further solidify Hisense's market leadership [9] Competitive Edge - Hisense's competitive advantage stems from continuous technological breakthroughs, including the introduction of advanced AI picture quality chips and new multi-crystal RGB-Mini LED light source chips [10] - These innovations enhance color accuracy and stability while reducing energy consumption by over 40% compared to QD-OLED, positioning Hisense as a leader in the high-end display market [10]