Daily Investment Strategy
Daily focus：Haier Smart Home（6690）
Released its first-quarter report for 2025, showing that the company achieved an operating income of approximately RMB 79.118 billion, a year-on-year increase of 10.06%. The net profit attributable to shareholders of the listed company was approximately RMB 5.487 billion, an increase of 15.09%. After deducting non-recurring gains and losses, the net profit was RMB 5.364 billion, an increase of 15.61%. In the Chinese market, Haier Smart Home accelerated the transformation of its retail model through digital inventory and digital marketing reforms, improving inventory turnover and delivery efficiency, achieving a year-on-year revenue growth of 7.8%. In overseas markets, the company promoted product innovation through its global R&D platform, achieving a year-on-year increase of 12.6% in overseas revenue. Additionally, the report mentioned that the company continues to enhance its local supply chain capabilities, with products such as high-end BM refrigerators, standalone ovens, and stainless steel inner tank dishwashers being manufactured locally in the United States, which will help mitigate tariff impacts.
US Market Pullback Amid ISM Strength and FOMC Outlook
The US equity market concluded its longest winning streak since 2004 on Monday, with the S&P 500 declining by 0.64%, reflecting investor apprehension over renewed uncertainties surrounding the Trump administration’s tariff policies. Concurrently, the April ISM Services Purchasing Managers Index (PMI) unexpectedly rose to 51.6, surpassing market expectations and indicating sustained expansion in the service sector, supported by robust new order growth, which underscores the underlying resilience of the economy. Market attention has now shifted to the upcoming FOMC meeting later this week, where the Federal Reserve is widely anticipated to maintain the current interest rate stance while closely monitoring the economic impact of tariffs and signaling future monetary policy direction. Overall, despite short-term headwinds stemming from trade tensions and policy ambiguity, the solid economic data continue to provide a degree of support to the market.
Cheung Cho Shing, Joseph is a SFC licensed person accredited to KGI Group to carry on regulated activities (for details, please refer to:https://apps.sfc.hk/publicregWeb/indi/ACQ030/details). He and/or his associate do not have any financial interest in the recommended issuer or new listing applicant.
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