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Q3 earnings beat with EPS up 4%, strong cash flow, and $230M in share buybacks.
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China unveils eight-agency action plan to boost smart homes with 250 billion yuan injection
China has launched an action plan to promote consumption of smart home products, aiming to increase the diversity of usage scenarios and expand the supply of high-quality goods. The plan was issued by eight government agencies, including the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Industry and Information Technology. It sets out seven major measures covering the expansion of high-quality smart home supply, improvement of the standards system, support for consumption, development of products suited to the elderly, organisation of recycling service chains for used household goods, optimisation of community services, and strengthening of financial and budgetary support. The plan also calls for supporting the retrofitting of homes for the elderly and the upgrading of old homes into smart homes. Under the 2026 trade-in policy for consumer goods, local governments have been given greater flexibility in designing subsidy programmes, with the central government planning to allocate 250 billion yuan, or 36.93 billion US dollars, from ultra-long special treasury bonds to support such projects nationwide.
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Interior Ministry proposes 75 billion baht loan for rooftop solar on 1.5 million households
The Ministry of Interior submitted its household rooftop solar installation programme for consideration by the committee vetting spending under the emergency loan decree yesterday, September 11, with Lavaron Sangsnit, permanent secretary of the Ministry of Finance, chairing the committee. Deputy Interior Minister Phonphir Souvannachavi said the programme will provide a subsidy of 50,000 baht per household for rooftop solar installation, covering 1.5 million households, up from an initial target of 1 million households, and is expected to use a credit line of up to 75 billion baht. On power purchases, no more than 5 kilowatts per household will be bought, after the electricity authority completes the switch to smart meters and two-way grid connections. Phonphir insisted the programme will involve no collusion or locking of specifications to favour any company, since it must go through the systems of the Provincial Electricity Authority and the Metropolitan Electricity Authority. Currently more than 2,300 companies are listed as certified installation specialists, and the electricity authority can handle roughly 300,000 to 400,000 rooftops itself, with private companies brought in to help install the rest.
SKYX Signs Merger With Deako to Combine Smart Home Platforms
SKYX Platforms has signed a merger agreement with American smart lighting maker Deako, aiming to lead the AI smart home, builder, and hotel markets. As consideration, SKYX will issue common stock equal to 18.46% of the company, totaling 25 million shares subject to up to a 2-year lockup/leak-out agreement with a Rule 10b5-1 trading plan. SKYX will also pay Deako's lender $4 million by closing and issue a note of $8.5 million, with $2.25 million paid in Q-1 2027 and the remaining $6.25 million in Q-4 2027. Post merger, current SKYX shareholders will own 84.4% of the company, while Deako's shareholders and lender collectively will own 15.6%. SKYX shares rose 5% to $1.47.