Group 1 - Haier Smart Home has officially become a partner of the Italian Serie A, leveraging innovative technologies like Haier-Cam to enhance brand exposure and accelerate global high-end market expansion [1] - The company announced its 2026 strategy on February 8, focusing on a "user-centered technology ecosystem," and reported record revenue and profit for the first three quarters of 2025, with profit growth exceeding 10% for five consecutive years [1] - As of January 31, 2026, Haier has repurchased approximately 1.201 billion yuan worth of shares and plans to increase the dividend payout ratio to 50% for the 2025-2026 fiscal year [1] Group 2 - As of February 13, 2026, Haier's stock price closed at 25.70 yuan, with a daily decline of 0.73% and a trading volume of 688 million yuan, while the stock has seen a cumulative drop of 1.42% over the past five days [2] - The technical analysis indicates that the stock price is near a support level of 25.65 yuan, with a resistance level at 26.54 yuan [2] Group 3 - For the first nine months of 2025, Haier reported revenue of 234.054 billion yuan, a year-on-year increase of 15.31%, and a net profit attributable to shareholders of 17.373 billion yuan, up 14.64% year-on-year [3] - The company's gross margin slightly increased to 27.2%, and operating cash flow matched net profit at 17.491 billion yuan, indicating stable profit quality [3] - Over 50% of revenue came from overseas markets, with emerging markets in South Asia and the Middle East and Africa experiencing growth rates of 25% to 60% [3] Group 4 - On February 14, an analysis by Upward Capital based on Buffett's value investment criteria highlighted Haier's understandable business model and strong competitive advantages, although it noted concerns regarding low gross margins and high goodwill [4] - Beijing Xianlao Zaji reported that the company's price-to-earnings ratio (TTM) is approximately 10.4 times, at a historical low, with a comprehensive target price of 33.13 yuan, indicating an upside potential of 28.91% [4] - The growth drivers for the company are identified as high-end product offerings, overseas expansion, and policy benefits, with a forecasted net profit increase of 13.21% year-on-year for 2025 [4]

Core Viewpoint - New Times is leveraging its partnership with Haier to enhance asset management efficiency and strengthen core technological barriers while seizing opportunities in emerging markets [2] Group 1: Collaboration and Synergy - New Times is focusing on supply chain management, technological collaboration, market and channel expansion, and operational management to accelerate synergy effects [2] - Haier's capabilities in global supply chain, digital marketing, lean management, and brand resources are being utilized to support New Times [2]

Core Insights - The report emphasizes the importance of governance improvement and overseas expansion for leading companies in the home appliance industry, particularly in the white goods sector [2][11]. Group 1: White Goods - The governance improvements in leading white goods companies are expected to enhance market confidence in sustainable growth, which can lead to a higher valuation [16]. - Midea Group has experienced a significant valuation increase from a PE of 8x to over 20x due to governance reforms and market conditions, despite recent performance challenges [17]. - Haier Smart Home's privatization has led to a notable stock price increase, with a 59% rise following the announcement of its restructuring plan [22][23]. Group 2: Black Goods - Japanese brands like Sony and Samsung are facing significant challenges, with Sony's ET&S department reporting an 8.2% decline in revenue and a 22.6% drop in operating profit [47][49]. - Chinese brands are expected to continue gaining market share globally, with TCL Electronics forming a joint venture with Sony to enhance their market presence [48]. - The Mini LED segment is seeing increased penetration, with a 32.25% online market share, indicating a positive trend for domestic competition [50][56]. Group 3: Small Appliances - The robotic vacuum cleaner market has shown a 10% year-on-year increase in online sales, driven by a low base effect from the previous year and seasonal factors [7]. - The competitive landscape in the small appliance sector is improving, with leading brands like Ecovacs and Roborock increasing their market shares [7]. Group 4: Investment Recommendations - The report recommends investing in white goods companies like Midea Group, Haier Smart Home, Gree Electric, and Hisense Home Appliances due to their stable growth and high dividend yields [7]. - For black goods, TCL Electronics and Hisense Visual are highlighted as beneficiaries of product iteration and improved domestic competition [7]. - In the cleaning appliance sector, Ecovacs and Roborock are expected to see profit margin recovery in 2026, making them attractive investment options [7].

Core Viewpoint - Haier Smart Home (06690) announced a share buyback plan, indicating confidence in its stock value and future prospects [1] Group 1: Share Buyback Details - The company will spend €92,500 to repurchase 45,000 shares [1] - The buyback price per share is set between €2.02 and €2.08 [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 海爾智家股份有限公司 呈交日期： 2026年2月13日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | 於香港聯交所上市 | 否 | | | | 證券代號 (如上市) | 690D | 說明 | | 普通股- D股面值每股人民幣1元 (於法蘭克福證劵交易所上市) | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 ...

Core Viewpoint - Haier Smart Home's stock experienced a slight decline of 0.73% on February 13, with a trading volume of 688 million yuan and a market capitalization of 241.005 billion yuan [1]. Company Overview - Haier Group, founded in 1984, has expanded from producing refrigerators to a wide range of sectors including home appliances, IT, logistics, finance, real estate, and biopharmaceuticals, becoming a global leader in providing solutions for a better life [2]. - The company holds a 10.2% share of the global retail volume in 2014, maintaining its position as the world's largest home appliance brand for six consecutive years [2]. Shareholder Structure - The top ten circulating shareholders include Central Huijin Asset Management Co., Ltd. and China Securities Finance Corporation [3]. - Haier Wireless, a subsidiary focused on wireless charging, has participated in setting national industry standards for wireless energy transmission and has invested in Intel's wireless charging technology team [3]. Business Operations - Haier Smart Home's main business involves the research, production, and sales of home appliances, including refrigerators, kitchen appliances, air conditioners, washing machines, and smart home solutions [3][7]. - The revenue composition includes: refrigerators 27.17%, air conditioners 20.94%, washing machines 20.22%, kitchen appliances 13.10%, equipment and channel services 11.97%, water appliances 6.11%, and others 0.48% [7]. Financial Performance - For the period from January to September 2025, Haier Smart Home achieved a revenue of 234.054 billion yuan, representing a year-on-year growth of 15.31%, and a net profit attributable to shareholders of 17.373 billion yuan, up 14.64% year-on-year [7]. - The company has distributed a total of 48.662 billion yuan in dividends since its A-share listing, with 24.273 billion yuan distributed in the last three years [8]. Institutional Holdings - As of September 30, 2025, Hong Kong Central Clearing Limited is the fifth largest circulating shareholder with 361 million shares, a decrease of 89.039 million shares from the previous period [9]. - China Securities Finance Corporation is the sixth largest circulating shareholder with 183 million shares, unchanged from the previous period [9].

国家知识产权局信息显示，海尔智家股份有限公司取得一项名为"电梯调度方法、装置、电子设备及存 储介质"的专利，授权公告号CN116853913B，申请日期为2023年6月。 天眼查资料显示，青岛海尔空调电子有限公司，成立于1999年，位于青岛市，是一家以从事专用设备制 造业为主的企业。企业注册资本96709.088914万人民币。通过天眼查大数据分析，青岛海尔空调电子有 限公司共对外投资了15家企业，参与招投标项目4779次，财产线索方面有商标信息121条，专利信息 5000条，此外企业还拥有行政许可29个。 青岛海尔空调器有限总公司，成立于1996年，位于青岛市，是一家以从事电气机械和器材制造业为主的 企业。企业注册资本93638.162532万人民币。通过天眼查大数据分析，青岛海尔空调器有限总公司共对 外投资了20家企业，参与招投标项目4915次，财产线索方面有商标信息258条，专利信息5000条，此外 企业还拥有行政许可20个。 青岛海尔智能技术研发有限公司，成立于2014年，位于青岛市，是一家以从事研究和试验发展为主的企 业。企业注册资本13000万人民币。通过天眼查大数据分析，青岛海尔智能技术研发有限 ...

在营销层面海尔印尼也持续深化本土融合，其通过赞助深受印尼国民喜爱的羽毛球赛事活动，有效提升 品牌亲和力与影响力。同时，深度绑定Atlanta等本土强势渠道，并不断完善分销网络，使高端产品触达 更多目标消费者。 全球化与高端化的精准战略定位以及全链条协同能力，已转化为亮眼的市场业绩，目前，AQUA印尼成 为当地中资品牌第一。随着"麦浪"套系的推出，海尔印尼正进一步填补当地高端市场空白，引领当地生 活品质升级，也推动自身创造新的引领。 印度尼西亚市场极具特殊性与复杂性。其岛屿众多、电力不均、气候炎热、穆斯林文化深厚，对品牌的 本土化能力要求极高。海尔印尼依托全球化、高端化战略以及"研发、制造、营销"等全球十大能力，围 绕本土用户需求进行针对性创新。本次发布的麦浪套系高端新品正是该战略的重要成果体现，其空调、 洗衣机、冰箱等品类均实现了精准适配：低功率AI控温空调适应有限的电力环境，既节能省电又能以 最大限度输出冷量，为用户提供最大程度的舒适体验。洗衣机Hijab头巾清洗模式，为穆斯林女性解决 头巾洗护难题。冰箱搭载深冷速冻技术，应对热带气候下的食材保鲜挑战。这些创新为当地家庭带来全 方位的高端生活解决方案。 海尔 ...

Core Viewpoint - The delivery process is crucial for user reputation in the smart home era, and Haier Smart Home has enhanced the delivery experience through a digital upgrade in its app, introducing a "real-time logistics tracking" feature [1][3]. Group 1: Digital Upgrade and User Experience - The new feature breaks traditional logistics information barriers, allowing users to view the real-time location, travel trajectory, and estimated arrival time of delivery vehicles on a map, similar to tracking food delivery [3]. - This "full visibility" service significantly alleviates user anxiety during the waiting period [4]. - Users gain autonomy over their time management, enabling them to self-modify appointment times in the app without repeatedly calling service centers, and they can also expedite requests [4]. Group 2: Impact and Statistics - The feature has benefited over 400,000 users, improving delivery success rates and enhancing the service experience during the delivery process [4]. - The end of delivery marks the beginning of service, as the Haier Smart Home app empowers the entire logistics process with visualization, reshaping the "first mile" of the service chain [4]. - This initiative respects user time costs and represents a solid step towards the implementation of a comprehensive smart home service system [4].

Core Insights - Haier Smart Home successfully integrated traditional cultural elements with modern AI technology through a unique couplet collection activity during the Spring Festival [1][4] Group 1: Event Overview - The couplet collection activity was launched on January 30 and concluded on February 6, attracting numerous smart home users to participate [1] - The activity encouraged users to express their wishes and experiences related to smart living through creative couplets, generating significant engagement on social media platforms like Weibo and WeChat [2] Group 2: User Engagement - Users showcased their creativity by composing couplets that reflect the essence of smart homes, such as "Robot sweeps away old dust, Sunrise opens a new day" and "One key connects thousands of families' joy" [2] - The participation of notable figures, such as calligrapher Qing Shen, who expressed his appreciation for smart living through his couplet, highlights the cultural significance of the event [3] Group 3: Smart Living Solutions - The couplets illustrated various smart home features, including AI voice interaction that recognizes local dialects, AI safety technology in gas stoves, and AI food management systems that monitor freshness [4] - Haier Smart Home aims to provide comprehensive solutions for smart appliances, smart homes, and smart living, emphasizing the importance of user interaction in creating a better living experience [4]