0654 GMT - Haier Smart Home's 3Q performance could be weighed by weak demand in China's home-appliance industry, particularly the air-conditioner business, Citi analyst Xiaopo Wei says in a note. Pointing to the year-over-year decline in aircon shipments in August and the 13% year-over-year increase in its inventory at end-2Q, Citi expects channel destocking. It cuts its 2026, 2027 and 2028 net-profit estimates by 4%, 6% and 5%, respectively, and sales estimates by 4%, 4% and 6%, respectively. Citi lowers its A-share target to 25.30 Chinese yuan from 26.30 yuan and H-share target to 27.80 Hong Kong dollars from HK$28.90. It maintains a buy rating on both. Its Shanghai listed shares closed 1.04% higher at 20.42 yuan on Wednesday, while its Hang Seng listed shares are last down 1.4% at HK$19.79.