Guotai Junan released a research report saying that this year's AWE takes "AI technology, AI life" as the theme, combining visual technology with large models, not only AI glasses or AI toys and other new home appliances are released, but also found that when old products have passed the nested AI large model, the human-computer interaction ability has been greatly improved. On the basis of sweeping robots, floor scrubbers and other products, Roborock launched washing machines, and made its debut at AWE 2025. Leading home appliance enterprises actively lay out the robot growth track, and have a deep technical foundation and self-made ability to make parts, while opening the ceiling of traditional business, relying on the robotization of home appliances to help their own business upgrade to achieve optimal structure.

Guotai Junan's main views are as follows:

Trend 1: Emphasizing AI as a keyword, there are not only traditional product nested large models to improve human-computer interaction capabilities, but also small new products to iterate rapidly

With the theme of "AI technology, AI life", this year's AWE combines visual technology with large models, not only new categories of home appliances such as AI glasses or AI toys, but also finds that when old products pass the nested AI large model, the human-computer interaction ability has been greatly improved. For example, Haier's "AI Eye", Three-winged Bird HomeGPT smart home model, Hisense Xinghai model, TCL Fuxi AI model, Changhong Yunfan AI model, EZVIZ's blue ocean model, Fotile HealthyCookingGPT and Robam Appliances "God of Food" model, etc. At present, it is still in the early stage of product innovation, and it is expected that new breakthroughs can be achieved in the future.

Trend 2: The layout of large groups is becoming more and more comprehensive, and they are looking forward to the direction of robotization

Multi-category is already the basic ability of large enterprises,Gree launched a refrigeration range hood,Hisense launched a three-warehouse washing machine。 Black electric display technology is still further iterating. TCL/Hisense Video shows MiniLED/MicroLED/RGB-MiniLED display technology. TCL Vientiane partition MiniLED flagship model Q10L series and Hisense the world's largest 116-inch RGB-Mini LED TV will present a more shocking visual perception. Cleaning appliance brands have also chosen to exhibit new products across borders. Dreame has crossed the border from sweepers to the intelligent ecology of the whole house, and opened the strategic layout of the intelligent ecology of the whole house, exhibiting kitchen appliances, ice washers, air conditioners, water purifiers, etc., covering almost all household appliances.

Roborock also launched washing machines on the basis of sweeping robots, floor scrubbers and other products, and made its debut at AWE 2025. In addition, on March 18, Midea Group's humanoid robot prototype was exposed for the first time, this robot can complete a variety of actions such as handshake, heart-to-heart, dancing, screwing, etc., and can understand voice commands and complete corresponding operations according to instructions. Looking forward to the layout of various enterprises in the direction of robotics in the future.

Trend 3: Marketing strategy upgrade, professional managers IP

Traditional home appliance brands are accelerating their rejuvenation (such as Haier's president IP building). Brands generally pay more attention to the appearance of products. For example, Gree, a traditional home appliance faucet, continues to reflect ingenuity in terms of appearance, launching a rose pink air conditioner. Vantage also emphasizes the color of its water heaters.

Investment advice

Leading home appliance enterprises actively lay out the robot growth track, and have a deep technical foundation and self-made ability to make parts, while opening the ceiling of traditional business, relying on the robotization of home appliances to help their own business upgrade to achieve optimal structure. The leading company has a prototype of humanoid robot products, the leading position in the industrial robot market, the long-term growth logic is clearer, and the valuation system is expected to be reshaped.

Recommend Midea Group (000333.SZ), Robam Appliances (002508.SZ), Hisense Video (600060.SH), and Vantage (002035.SZ). AI+ continues to be hot, optimistic about smart home, wearable devices, AI companion toys and other sub-industries, and companies with high attention to the launch of new products will benefit more. Recommend Roborock (688169.SH), TCL Electronics (01070), Nine Company-WD (689009.SH), and EZVIZ Network (688475.SH).

Risk Warning

The pace of new product launches is less than expected, and the competition in the industry is intensifying.