Core Insights - Zhejiang Province's Economic and Information Technology Department announced the first batch of typical cases of AI empowering the manufacturing industry for 2025, with Boss Electric (002508) being selected for its "Shishen" model that enhances the entire cooking chain [1] - This recognition follows Boss Electric's previous accolades, including being named a typical case for AI-enabled new industrialization by the Ministry of Industry and Information Technology and being part of the first national pilot project for high-quality data set construction in the kitchen appliance industry [1] - The company's "vertical large model + scenario intelligent body" AI application paradigm has become a benchmark for both Zhejiang Province and the nation, providing a replicable path for intelligent transformation in the industry [1] Company Innovations - Boss Electric has developed a comprehensive cooking solution centered around the "Shishen" large model, leveraging 46 years of accumulated cooking data [2] - The AI cooking model integrates natural language processing, knowledge graphs, and personalized recommendation algorithms, enabling functions such as meal planning, recipe teaching, cooking guidance, and product inquiries [2] - As of now, the "Shishen" model has served 5.4 million users, with 386,000 active users and a satisfaction rate of 92%, contributing to a digital kitchen appliance sales revenue exceeding 3 billion yuan, a year-on-year increase of 57.2% [2] AI Empowerment in Operations - On the enterprise side, Boss Electric has developed four intelligent agents: an AI R&D assistant, AI customer service, AI technician, and AI supply chain optimizer, enhancing various operational aspects [2] - The AI R&D assistant integrates knowledge retrieval and semantic understanding to build a standard R&D database, while AI customer service and technician roles utilize natural language processing for customer inquiries and fault diagnosis [2] - The supply chain and production processes have also been AI-enabled, employing self-tuning algorithms for 90-day demand forecasting and inventory optimization, alongside real-time data collection from equipment sensors for predictive maintenance [2] Industry Impact - The innovative practices of Boss Electric in AI empowerment are expected to serve as a reference model for other manufacturing enterprises undergoing intelligent transformation, accelerating the formation of new productive forces and promoting high-quality industrial development [3]

Core Viewpoint - In 2024, the Chinese kitchen appliance industry faces challenges and opportunities due to intense competition and changes in policies and technology, with Robam Appliances reporting significant financial performance and maintaining a high dividend payout [1] Financial Performance - Robam Appliances reported a revenue of 11.213 billion yuan and a net profit of 1.577 billion yuan for 2024, continuing its commitment to high dividend payouts, totaling 6.376 billion yuan since its listing [1] Market Position - Robam Appliances leads the market with a 32.06% offline and 21.41% online sales share in the range hood segment, and a 31.73% offline and 19.81% online share in gas stoves, both ranking first in the industry [4] - The company’s dual product set of range hoods and gas stoves has an online sales share of 26.89%, also the highest in the industry [4] - The Robam Double Ultra-Thin series has a dominant market share in the high-end range hood market [4] Product Performance - In the full kitchen appliance category, Robam's embedded steam and baking machine has a 27.7% offline sales share, while dishwashers achieved a sales volume share of 20.65% and a sales revenue share of 18.25% [4] - The S1 Plus Lite dishwasher saw a year-on-year sales increase of 87%, becoming a top-selling product in the domestic market [4] - The integrated stove has a 39.5% offline sales share, and gas water heaters experienced a 35% year-on-year sales growth [4] - The desktop range hood became the top-selling product on Tmall by the end of 2024 [4] Policy Impact - The implementation of the national subsidy policy has strengthened Robam's industry-leading position, with the top 10 home appliance brands' retail concentration rising to 82.8%, a 2% increase year-on-year [5] - Robam Appliances achieved a 108% growth rate in KA channels within three months of the subsidy policy's launch, becoming one of the biggest beneficiaries [5] Brand Strategy - The company employs a "Robam + Mingqi" dual-brand strategy to tap into lower-tier markets, with the Mingqi brand achieving a 21.92% year-on-year retail revenue growth and a 40.77% increase in retail volume [5] - The top-side dual-suction range hood ranks first in the 1500-1999 yuan price segment [5] Technological Innovation - Robam has transitioned into a "full-chain cooking solution provider" through the "Shishen" AI model, which has registered over 4.28 million users since its launch in December 2024, with a monthly active user count of 386,000 as of March 2025 [5] International Expansion - Robam Appliances is focusing on the North American market, having established a subsidiary in the U.S. and exceeding 100 sales points in the region [6] - The company is also entering the commercial kitchen market, which is nearing a scale of 100 billion yuan, with low brand concentration [6] - Leveraging its years of kitchen appliance R&D experience and AIoT technology, Robam aims to reduce operational costs for restaurant businesses, creating new growth channels [6]

4月29日披露的最新财报显示，高端厨电领导品牌老板电器在2024年实现稳健增长。2024年公司实现营收 112.13亿元，归母净利润15.77亿元。 从营收和利润规模上看，老板电器继续稳居国内厨电上市公司第一名。2024年，老板电器一方面"逆风前 行" 在吸油烟机、燃气灶、线上厨电套餐等多个品类市场份额位居行业第一， 进一步稳固龙头地位。 另一方面，老板电器 主动拥抱AI变革进行"逆周期进化"，以求穿越周期。 老板电器能够逆周期实现稳健 业绩，与其在2024年开启"AI+转型元年"密不可分，正全面由传统家电制造业品牌向"烹饪全链路整体解 决方案提供商"进化。 深究最新发布的财报，也不难发现老板电器最新浮现的增长动力。老板电器在2024年首次进入商用厨房 市场。商用厨房市场规模已近千亿，但品牌集中度极低，头部企业仅占1%市场份额，呈现"大市场、小品 牌"特点。老板电器聚焦智能化商用厨电为餐饮客户降低经营成本，有望在这个 细分市场上实现高增长， 为公司打造新增长曲线。 2024财年老板电器继续坚持分红，每10股派发现金红利5元。老板电器自上市以来累计分红63.76亿元（含 2024年度分红），超过其总募资金额的6 ...

Core Insights - The article discusses the launch of the new AI cooking model "Shishen" by Boss Electric, which aligns with the Chinese government's initiative to promote "AI + consumption" [1][2] - The cooking sector is identified as a high-frequency, essential area with significant potential for AI applications, driven by increasing consumer demand for convenience, health, and personalized cooking experiences [1] Group 1: Company Initiatives - Boss Electric is actively responding to national policies by implementing vertical AI models in the complex cooking domain, aiming to explore a new high-growth consumption track [1] - The "Shishen" model integrates a knowledge base of 2TB, combining public and private data along with 46 years of cooking expertise from Boss Electric, and is designed to assist users in recipe recommendations and meal planning [1][2] Group 2: Product Features - The "Shishen" model not only aids in cooking but also enhances cultural and emotional experiences by sharing culinary stories and nutritional knowledge, adapting recommendations based on cultural contexts [2] - The product leverages Boss Electric's extensive data on Chinese cooking and user behavior, allowing it to control multiple kitchen appliances for more complex cooking tasks [2] Group 3: Industry Perspective - The development of "Shishen" is seen as a significant leap from "single-point intelligence" to "scene intelligence," contributing to the growth of AI in food-related consumption [2] - The integration of vertical AI models with real cooking scenarios is expected to solidify the foundation for hardware implementation in the cooking industry [2]