海信家电_2025 年三季度初步点评_因中央空调和出口业务不及预期，但国内白色家电增长仍健康

29 October 2025 | 7:44AM CST Equity Research Hisense Home Appliances Group (000921.SZ): 3Q25 First Take: Miss due to central AC and exports, still healthy domestic white goods growth; Hisense Home Appliances reported below-expectation 3Q25 results post market close of Oct 28. Total revenue/net profit in 3Q25 was Rmb22,192mn/Rmb735mn, growing by +1%/-5% yoy, which was -4%/-16% vs. GSe. Management will hold an earnings call on Oct 29 afternoon. We expect investors to focus on: 1) the channel breakdown of 3Q25 ...