HK Stock Market Move | HAIER SMARTHOME (06690) rose more than 5% in morning trading; net profit for the first three quarters was nearly RMB15 billion; the company continued to expand its market share.

HAIER SMARTHOME (06690) rose more than 5% in morning trading. As of press time, it was up 5.17% at HK$19.92, with turnover of HK$335 million. On the news front, HAIER SMARTHOME released its results, reporting total operating revenue of RMB221.819 billion for the first three quarters and net profit attributable to shareholders of RMB14.999 billion. Sinolink released a research report stating that, according to AVC data, domestic home appliance retail sales fell 10% year-on-year in the third quarter, with demand under considerable pressure. However, the company continued to expand its share, with online and offline retail sales shares reaching 20.6% and 25.0% in 26Q1-Q3, up 2.9 pct and 1.7 pct year-on-year. It is worth noting that on October 27, HAIER SMARTHOME signed a strategic cooperation agreement with CAICT. The two parties will take "AI empowering the real economy, scenarios feeding back into technology" as the core theme, leverage their respective advantages in technology, industry, ecosystem, and market, and carry out joint research on core technologies, deep co-creation of industry scenarios, two-way empowerment of the supply chain, and collaborative building of industry standards.