Guoxin Securities releases Haier Smart Home research report: Business will experience fluctuations in Q4 2025, and dividend plans will gradually increase.

Jingyan AI Express: On April 7, Guosen Securities released a research report saying it gives Haier Smart Home (600690.SH, latest price: 20.75 yuan) a “Outperform” rating. The rating rationale mainly includes: 1) full-year performance shows steady growth, with some operating pressure in the fourth quarter; 2) emerging markets continue to run at high levels of optimism, with the fourth quarter weighed down by domestic sales; 3) growth across various categories remains steady, with multi-brand performance standing out; 4) the 2025 Q4 gross margin was significantly pressured, and one-off expense items affected earnings. Risk warning: industry competition intensifies; raw material prices rise sharply; industry demand recovery falls short of expectations.

Jingyan Headlines (nbdtoutiao)——Major U.S. data has been released; the Fed’s rate cuts this year are up in the air! Will it switch to rate hikes? Goldman Sachs gives four reasons: “Chances are very small.”

(Reporter Wang Xiaobo)

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