TCL Smart Home(SZ:002668)2025-07-18 10:34Group 1: Financial Performance - In Q1 2025, the company achieved revenue of 4.6 billion CNY, a year-on-year increase of 9.58%, marking nine consecutive quarters of positive growth [2] - The net profit attributable to shareholders reached 302 million CNY, up 33.98% year-on-year, with 15 consecutive quarters of double-digit growth [2] - The net cash flow from operating activities was 578 million CNY, reflecting a year-on-year growth of 33.33% [2] Group 2: Global Expansion Strategy - The company aims to become a global leader in smart home appliances, focusing on AI-driven products and global market expansion [2] - Plans to establish a new production base in Southeast Asia, with an expected additional capacity of 1 to 1.4 million units per year [3] - The strategy includes increasing market share in emerging and mid-to-high-end markets through international exhibitions and sports marketing [2] Group 3: Brand and Sales Strategy - The sales contribution from the self-owned brand platform is currently less than 20%, primarily leveraging existing channels for maximizing efficiency [4] - The company is focused on enhancing product quality and R&D capabilities, with no immediate plans to change the sales channel model [4] Group 4: Dividend and Shareholder Value - The company has not declared dividends due to negative retained earnings, but plans to reward investors once conditions are met [5] - The company acknowledges investor expectations and aims to enhance shareholder value through continuous improvement in profitability [5] Group 5: Business Development - The company currently specializes in refrigerators, freezers, and washing machines, with no plans to expand into air conditioning at this time [6] - Future business development will continue to align with the AI smart home appliance direction [6] Group 6: Stakeholder Engagement - The decision not to repurchase shares from minority shareholders of Oma Refrigerator is based on the belief that maintaining current equity arrangements will effectively motivate management and benefit all stakeholders [7]