【环球网科技综合报道】在智慧家庭领域，专利是衡量企业科技实力的重要指标。专利不仅能直观反映研发投入与创新节奏，更能体现企业对核心技术的掌 控力与前瞻性。如今行业竞争已从硬件比拼，转向人工智能、物联网驱动的生态协同，扎实的专利体系正是构建技术壁垒、保障用户体验、实现场景落地的 关键。因此，持续高质量的专利产出，也是企业长远引领赛道的核心所在。 这份行业共识，在最新发布的权威榜单中得到了直观印证。1月12日，IPRdaily发布了2025年全球智慧家庭发明专利排行榜（TOP 100）。在智能家电领域持 续深耕的海尔智家以4667件公开的专利申请领跑全球，稳稳拿下这份榜单的14连冠。 | 排名 | 申请人 | 专利数量/件 | | --- | --- | --- | | 1 | 海尔智家 | 4667 | | 2 | Samsung | 4039 | | 3 | IG | 3948 | | 4 | 格力 | 3816 | | 5 | 美的 | 3789 | | 6 | 海信 | 1726 | | 7 | Google | 1663 | | 8 | Panasonic | 1363 | | 9 | Apple | 1 ...

Core Insights - Haier has maintained its position as the world's largest home appliance brand by retail volume for 17 consecutive years, with significant growth in market share from 6.3% to 12.1% since 2009, demonstrating strong resilience and stability [1] - The company's growth is attributed to its smart home strategy, transitioning from merely selling appliances to providing a platform service ecosystem that enhances user experience through software-defined scenarios [1] Group 1: Performance and Strategy - Haier's global market share has seen a consistent increase, achieving five consecutive years of growth [1] - The "126" strategy focuses on user-centric innovation, establishing a smart home channel, two major platforms for customer engagement, and six core capabilities including globalization and digitalization [3][4] Group 2: Globalization and High-End Positioning - Haier's globalization involves enhancing capabilities across sales, marketing, service, logistics, procurement, R&D, and manufacturing, with successful product iterations tailored to local markets [4] - The high-end strategy is exemplified by successful product launches, such as the "Lazy Three-Tub Washing Machine," which achieved over 1 million units sold in three quarters [6] Group 3: Digitalization and Smart Technology - Haier aims for "extreme efficiency" through full-process digital transformation, improving operational efficiency and customer satisfaction with 80% of products delivered directly to users [6] - The company is advancing from product intelligence to scenario intelligence, integrating AI capabilities into home appliances for enhanced user interaction [7] Group 4: Ecosystem and Sustainability - Haier's smart home ecosystem connects over 66 million resources, providing comprehensive services across various life scenarios, including a new "people-car-home" ecosystem [9] - The company is committed to ESG principles, with initiatives aimed at achieving carbon neutrality by 2050 and offering energy-efficient products that exceed current standards [9]

Core Viewpoint - Haier Smart Home has received multiple industry recognitions at the National After-Sales Service Conference, affirming its service capabilities and standardization through a digital platform that extends its offline service system online and overseas [1][2] Group 1: Service System and Operational Performance - The digitalization of the service system has been recognized by the industry, enhancing user engagement and service response efficiency, which supports channel operation quality and brand reputation [2] - In Q3 2025, the company achieved revenue of 77.56 billion yuan, a year-on-year increase of 9.51%, maintaining a growth rate of 10.2% from H1 2025 [2] - Domestic business revenue in Q3 2025 grew by 10.8%, with air conditioning revenue increasing by over 30% [2] - Market share for Haier's air conditioners, refrigerators, and washing machines increased by 3.7, -0.3, and 2.8 percentage points year-on-year, respectively [2] - The strong performance in air conditioning is attributed to high temperatures in northern China and the company's traditional market advantages, alongside operational model reforms and digital marketing efforts [2] Group 2: Profitability and Financial Performance - In Q3 2025, the net profit attributable to shareholders was 5.34 billion yuan, a year-on-year increase of 12.7% [3] - The improvement in product structure and operational efficiency in Europe positively impacted profitability [3] - The expense ratios for sales, management, R&D, and financial costs were stable, with slight year-on-year changes [3] - The gross margin for Q3 2025 was 27.9%, up by 0.1 percentage points, driven by product upgrades and supply chain optimization [3] - Operating cash flow for Q3 2025 was 6.352 billion yuan, a year-on-year increase of 0.295 billion yuan, representing 1.2 times the net profit attributable to shareholders [3] Group 3: Future Outlook and Investment Recommendations - Future growth momentum is expected to extend, with potential benefits from a recovery in the U.S. market due to anticipated interest rate cuts [3] - The company is projected to achieve double-digit profit growth in 2026, with high profitability quality supporting shareholder returns [3] - The EPS forecasts for 2025, 2026, and 2027 have been slightly adjusted to 2.29, 2.52, and 2.78 yuan, respectively, with corresponding PE ratios of 11.6, 10.5, and 9.5 times [4] - A target price of 33.8 yuan has been set, corresponding to a 13.4 times PE for 2026, maintaining a "strong buy" rating [4]

Investment Rating - The report maintains a "Strong Buy" rating for Haier Smart Home (600690) [1] Core Insights - Haier Smart Home has received multiple industry recognitions for its digital service system, which extends its offline service capabilities online and overseas, enhancing service efficiency and standardization [1] - The company reported a revenue of 77.56 billion yuan in Q3 2025, reflecting a year-on-year growth of 9.51%, consistent with the 10.2% growth in H1 2025 [8] - The domestic business revenue grew by 10.8% year-on-year, with the air conditioning segment seeing over 30% growth in Q3 [8] - The company’s profitability improved, with a net profit of 5.34 billion yuan in Q3 2025, up 12.7% year-on-year [8] - The operating cash flow for Q3 2025 was 6.352 billion yuan, which is 1.2 times the net profit [8] - Future growth is expected to continue, with a projected double-digit profit growth in 2026, supported by improving demand in domestic and international markets [8] Financial Summary - Total revenue projections for 2024A, 2025E, 2026E, and 2027E are 285.981 billion, 309.930 billion, 328.665 billion, and 347.024 billion yuan respectively, with year-on-year growth rates of 9.4%, 8.4%, 6.0%, and 5.6% [3] - Net profit projections for the same years are 18.741 billion, 21.432 billion, 23.605 billion, and 26.101 billion yuan, with growth rates of 12.9%, 14.4%, 10.1%, and 10.6% respectively [3] - The target price is set at 33.8 yuan, with the current price at 26.54 yuan, indicating significant upside potential [4]

Core Insights - The WISE 2025 Business King Conference aims to anchor the future of Chinese business amidst uncertainty, focusing on the theme "The Scenery Here is Unique" [1][2] Consumer Behavior - Global consumer confidence is declining, but Chinese consumer confidence is improving, although their continuous consumption ability is hindered [4][8] - Chinese consumers are less focused on promotions and pricing, with experience becoming a key driver for consumption [4][10] - Different generations exhibit varying consumption behaviors, with Baby Boomers and Generation Y being the most willing to spend, while Generation Z and affluent Generation X are more cautious [4][12] Generational Insights - Baby Boomers (60+) are redefining aging, showing a willingness to try new products and use AI for shopping, with 83% open to AI assistance [13][14] - Generation X (45-59) is pragmatic and financially savvy, with 37% being budget-conscious and preferring local brands [16][19] - Generation Y (29-44) prioritizes experience over products, with 70% willing to pay for better experiences and 81% favoring quick delivery services [20][21] - Generation Z (18-28) is divided, with 31% eager to spend while 34% are financially constrained, focusing on products that resonate with their social circles [22][23] Market Opportunities - The aging population presents new business opportunities, as older consumers seek to enhance their quality of life and are open to innovative products [14][15] - Companies need to adapt their strategies to cater to the unique needs of different generations, emphasizing product quality, experience, and effective communication [23]

Core Insights - The event "2025 Global Launch Festival Smart Technology Launch Station" took place from November 21 to 23, showcasing a variety of smart technology products and creating an immersive consumer experience [1][14] - The event featured a combination of "display, sales, interaction, and experience," aiming to reshape consumer engagement with smart technology [1][14] Group 1: Event Overview - The event was co-hosted by the Beijing Municipal Bureau of Commerce and the Chaoyang District People's Government, held at JD MALL (Shuangjing) as the main venue and JD MALL (South Third Ring) as a secondary venue [1][11] - It aimed to stimulate market vitality by integrating pop-up and permanent retail experiences, creating a new consumption ecosystem [1][13] Group 2: Product Categories - The event showcased various categories including robots, smart home appliances, wearable devices, smart transportation, and AI learning tools, allowing consumers to experience the convenience and enjoyment brought by smart technology [3][5] - Notable products included humanoid robots from Yushu Technology, smart washing machines from Haier, and AI-enabled kitchen appliances from Casarte, highlighting innovations in home living [5][8] Group 3: Consumer Engagement - The interactive robot experience area was particularly popular, featuring performances and real-time interactions with the audience, effectively bridging the gap between advanced technology and everyday consumers [7][10] - The event utilized a seamless transition from "seeing" to "buying," enhancing consumer engagement through immersive experiences [10][14] Group 4: Promotional Strategies - The event implemented a "pop-up + permanent" model, creating a closed-loop of customer flow and consumption during the event [13] - Various promotional activities were offered, including limited-time gifts for store entry and exclusive offers for purchases, aimed at enhancing consumer participation [13]

Core Insights - The high-end home appliance market in Southeast Asia, traditionally dominated by Korean brands, is witnessing a shift with Haier washing machines emerging as a strong competitor, particularly in Thailand's ultra-high-end segment priced over 60,000 THB [1] - Haier's L+ series has gained rapid popularity, appealing to high-net-worth individuals who prioritize quality and lifestyle compatibility in their purchases [1][2] Target Audience - Haier's high-end washing machines are primarily purchased by affluent families seeking quality living, elite individuals focused on aesthetics and functionality, and spacious villa households with diverse needs [1] - These consumers value not only the product's appearance and performance but also its alignment with their lifestyle, such as the L+ series' minimalist design and specialized fabric care programs [1][2] Product Innovation - Haier washing machines have achieved breakthroughs in design, functionality, and smart experience, deeply integrating with local living scenarios [2] - The L+ series features an embedded design that complements high-end home aesthetics, while the innovative "dual-tub integrated design" reduces stacking height by 20 cm, enhancing space efficiency [2] - Key technological advancements include a 607mm drum diameter for handling large items, smart dispensing systems, and AI-driven quick wash and dry capabilities, catering to the specific needs of Southeast Asian consumers [2] Localization Strategy - Haier's success in the Southeast Asian high-end market is supported by a robust localization strategy, including product customization based on regional climate and washing habits [3] - The company has established a comprehensive local team to provide end-to-end service, enhancing customer satisfaction and driving word-of-mouth referrals [3] - Haier's washing machines have achieved the fastest growth in the high-end segment in Southeast Asia, leading among Chinese brands in Europe and maintaining market leadership in Australia for 15 consecutive years [3]

Core Insights - The article highlights the resurgence of Dong Yuhui as a leading live-streaming e-commerce host during the Double 11 shopping festival, achieving significant sales figures and adapting his business strategy to include higher-priced products and self-operated items [1][5][6]. Group 1: Sales Performance - From October 9 to October 31, the "With Hui" live-streaming room achieved cumulative sales exceeding 1.8 billion yuan [1]. - During the initial three days of the Double 11 event, Dong Yuhui's live-streaming sessions generated over 300 million yuan in sales, with a single session reaching a GMV of 190 million yuan, setting a record for Douyin's pre-sale period [1][5]. - The live-streaming room attracted over 70 million viewers from October 9 to 11, with sales surpassing 300 million yuan [5]. Group 2: Strategic Shifts - Dong Yuhui has shifted from a cultural persona to a more commercially focused identity, actively participating in the Double 11 promotions and extending his live-streaming sessions beyond the planned duration [1][4]. - Unlike previous years, he has chosen to promote higher-priced items such as home appliances and electronics instead of lower-priced consumer goods [4][6]. Group 3: Business Expansion - Dong Yuhui is diversifying his business by venturing into the cultural tourism sector, launching initiatives like "With Hui Travel" and hosting themed live-streaming events [7][8]. - The establishment of the "Lan Zhi Chun Xu" account focuses on culture, lifestyle, and travel, indicating a strategic move to enhance his personal brand and market reach [8]. Group 4: Product Development - The "With Hui" brand has begun offering self-operated products, including a canvas bag that sold 24,000 units, generating sales of 480,000 yuan [9]. - In October, a limited release of customized beef sold out within a minute, showcasing the brand's ability to create demand for unique products [10].

Core Viewpoint - Haier Smart Home has demonstrated resilience in overseas markets despite ongoing global uncertainties, as evidenced by its third-quarter report for 2025, which shows significant revenue and profit growth [1] Financial Performance - For the first three quarters of 2025, Haier Smart Home reported revenue of 234.05 billion yuan and a net profit attributable to shareholders of 17.37 billion yuan, representing year-on-year growth of 10% and 14.7% respectively [1] - Overseas market revenue grew by 10.5% year-on-year, outperforming the industry average [1] Market Performance - North America showed stable operations, while market share in Europe expanded steadily [1] - Southeast Asia experienced growth exceeding 15%, South Asia over 25%, and the Middle East and Africa over 60% [1] Localization Strategy - Haier Smart Home has implemented a differentiated product strategy tailored to local market demands, enhancing its high-end product line in North America through GE Appliances [1] - In Europe, the company introduced energy-efficient products that exceed local energy standards, addressing regional energy cost concerns [1] Service Localization - The company has advanced its "four networks integration" strategy (logistics, information, service, and marketing networks) to improve local market responsiveness and service efficiency [2] - In Europe, Haier Smart Home optimized its logistics network, resulting in increased retail market share for refrigerators and washing machines in key markets [2] Supply Chain Localization - Haier Smart Home has adopted a diversified global supply chain strategy, enhancing local supply chain management [2] - The company increased production capacity in North America and launched a new air conditioning manufacturing base in Thailand, which is set to produce 6 million units annually [2] Industry Trends - The home appliance industry is shifting from a "contract manufacturing + shipping" model to a "local supply + long-term operation" model [2] - The adaptability of companies, organizational capabilities, and long-term strategic abilities will become critical evaluation metrics in the new phase of the industry [2]

Core Insights - Haier washing machines hold a market share of 41.1% in the domestic market and have been the global sales leader for 16 consecutive years, according to GfK and Euromonitor International data [1][3]. Group 1: Innovation and Product Development - Haier's innovation journey is driven by user needs, starting with the launch of the world's first mini fully automatic washing machine in 1997, which achieved sales of 110,000 units in just one month [3]. - The introduction of the dual-power washing machine in 2002 addressed long-standing issues with traditional washing machines, contributing to Haier's global sales leadership [3]. - In 2015, Haier launched the world's first dual-drum washing machine, marking a significant technological advancement in the industry [3]. Group 2: Technological Leadership - Haier has established itself as a leader in the IoT era, holding 6,313 global invention patents and participating in the formulation of 99 international standards [5]. - The company operates 10 major R&D centers and over 150 certified laboratories globally, employing more than 2,800 R&D engineers [5]. - Haier's innovative rhythm includes leading, reserving, pre-researching, and exploring future technologies, supported by 24 smart factories worldwide [5]. Group 3: New Product Launches - In July 2023, Haier introduced the world's first four-drum washing machine, designed to meet the diverse needs of modern households [6]. - The "Fusion Washing and Care" product integrates various functionalities, including quiet operation and aesthetic design, positioning itself as a "home AI washing center" [6][8]. Group 4: Key Features of New Products - The new washing machine features "suspension vibration intelligent balance technology" for stable operation, utilizing a unique structure and AI algorithms for real-time adjustments [8]. - It incorporates "AI human sensing" technology, allowing for automatic activation and voice command capabilities, enhancing user interaction [8]. - The design allows for seamless integration into kitchen cabinetry, addressing space constraints and simplifying installation with a streamlined water and power system [8]. Group 5: Future Outlook - Haier aims to continue innovating in the multi-drum washing machine category and has played a key role in establishing international standards for this product type [10]. - The company is committed to deepening user engagement and creating enhanced washing experiences through ongoing technological advancements [10].