On January 28, five Shenzhen departments jointly issued the Shenzhen Three-Year Action Plan for Optimizing the Consumption Environment, 2026-2028. The plan lists vigorously promoting home furnishing consumption as an important item, and sets improving the smart home industry ecosystem and promoting adaptation between domestic chips and operating systems as core tasks. It proposes building smart home consumption experience centers, constructing a big home furnishing ecosystem, encouraging enterprises to adapt to domestic software and hardware, and promoting multi-category home furnishing products to connect with AI and create flagship products. It also calls for various home furnishing consumption promotion activities, encourages home renovation actions such as old-home decoration and age-friendly home upgrades, promotes deep integration of OpenHarmony plus whole-home intelligence, and builds display areas to create smart living spaces.

From the policy implementation path, the beneficiaries among whole-home intelligent chip enterprises are clear: connection-layer chips, main-control and central-control chips, and scenario-specific chips. The core drivers are domestic substitution plus AI scenario penetration. In the short term, local Shenzhen enterprises may receive pilot resources first. In the long term, enterprises with technical barriers, such as RISC-V architecture and edge computing, and ecosystem adaptation capabilities, such as Harmony compatibility, will stand out.

Leaguer Microelectronics (688589.SH): Shenzhen-based PLC leader and Harmony adaptation pioneer

As a leading Shenzhen-based PLC chip enterprise, its core technology requires no additional wiring and perfectly fits policy scenarios such as old-home renovation and age-friendly renovation. Its PLCP interconnected ecosystem products are deeply connected with OpenHarmony, covering three major fields: whole-home smart control, smart lighting, and energy management. The company focuses on the main line of AI plus PLCP integration. Its PLCP-Matter bridge solution can connect overseas home furnishing brand ecosystems such as Apple HomeKit and Samsung SmartThings, and can also access domestic smart home brand ecosystems such as Honor, Haier, Tmall Genie, and Xiaodu through direct gateway connection, matching the requirements for building an interconnected ecosystem of big home furnishing and good houses. At the same time, the company's PLCP intelligent solutions have been implemented on a large scale in hotels, homes, and other scenarios, and it is expected to prioritize local pilot resources in the future thanks to its regional advantages.

Allwinner Technology (300458.SZ): benchmark main-control chip provider and core player in AI scenarios

As a hidden champion in smart home SoC main-control chips, its chips have completed deep adaptation with OpenHarmony and support AI multimodal interaction such as voice and image recognition, precisely matching the policy requirement for comprehensive AI access by devices. In 2024, revenue grew 36.76 percent year on year, gross margin remained above 30 percent, and institutions such as Guolian An and China Asset Management held long-term positions. The company continues to benefit from the AI upgrade wave in smart home appliances.

Espressif Systems (688018.SH): connection chip leader with a leading global layout

As a core global supplier of Wi-Fi and Bluetooth connection chips, it is the connection hub for interoperability among whole-home smart devices. In 2024, revenue reached 2.007 billion yuan, up 40.04 percent year on year. The company is laying out Wi-Fi 6E and Wi-Fi 7. technologies to reduce connection latency and promote AI implementation on the edge, matching the policy direction of integrating digital consumption with smart homes.

Rockchip (603893.SH): core computing power for central control and a key institutional holding

As a major enterprise in the central-control chip field, its core RK3588 chip has strong edge computing capability, supports 8K video decoding and NPU computing acceleration, and can process multiple tasks simultaneously, providing core support for flagship smart home products. In the fourth quarter of 2025, it was held by institutions, with products such as the China CSI Artificial Intelligence Theme ETF holding a 1.92 percent stake. Its technical advantages are highly aligned with the trend of comprehensive AI access.

Source: Xinyang News Network